BTCCNY
BTC Climbing the ladderAfter much consideration i do not believe we are entering a Bear trend for BTC.
Going back to fundimentals there really isnt any legitimate reason to revert this trend to bearish. Network is growing, Google analytics suggest that their is a backlog of demand, world wide adoption is increasing and a scaling roadmap is increasingly clearer as to what underlying challenges need to be overcome.
The recent sell off in my mind was a function of where we have come from this year i.e. profit taking and risk managment. Its inevitable that the uptrend was unsustainable at the previous rate in a more developed market.
In this chart i propose one of two ways we will head past £3k and onwards toward $4k (which is what i believe fair value for the asset today)
The fib level from the lows of 2017 to highs last week suggest an extention to $4k is possible before the end of the year.
We will either retest the lows of last week and resume the upward channel we have been in for the last month, or we will simple resum our asecent from here.
Without a black swan event... I just cant see any reason for a bear market and i still believe we are correcting upwards to fair value which is now futher enhanced now from an increasingly strengthened Cryto asset class.
Bitcoin - Last Gasps of a Dying ManI know, "IT'S NOT THE TOP YOU IDIOT!", but here I go anyway lol. Easy for me to say that this is a top, being that i'm not invested either way but IMO I do have a unclouded and unbiased judgement
So I'm looking at the 15500 level as a level where shorters shorted - that level is weak and needs to be run. 16200 level looks like a good level to reduce your longs right down or shut up shop completely. Fomo could take it up to OTE around 17700. After this i think we will see the next level around 9000 yuan reached pretty quickly where I will need to re-evaluate, but should see a bounce there
I recon this last pullback will hold for a long time. I'll be joining the long term HODLers when we get sub 5000 yuan.
Stay safe out there and remember greed will bite you in the ass eventually!
Possible break upwards coming out of falling wedgeSteady accumulation means upward moves incoming. Look at my last 2 charts on EMC2. Good luck.
BITCOIN 10K ON OCTOBER 9Bitcoin has proven once again its highly repetitive nature. Whilst many people have called for the death of Bitcoin over the past few years, it has simply done what it always does and that is repeat. Many people have missed this by not looking at the bigger picture. Bitcoin has just played out over the past 3 years and is continuing to play out what happened during 2013 only on a larger time frame and has already begun the launch higher. Most importantly this coincides with the infamous Bitcoin 235 day cycle. This cycle was derived from the early days of bitcoin trading where each of the first four major tops from all time highs fell exactly 235 days apart. Since the bear market that began in 2014 the 235 day cycle could no longer coincide with new all time high tops but instead continued to top with bull runs that happened in the lead up and to this day has yet to be proven wrong. The next 235 day cycle tops on October 9.
Expect chaos on the way up. Expect candles over $1000 from high to low. Expect inexperienced traders to be wiped out along the way. There is no safe entry price or safe stop loss only a target of $10k on October 9. Bookmark this chart.
FCT - Welcome to the Future of Data StorageFactom, the giant decentralised and immutable database is about to pump. Protected from manipulation and ignoring interpretation, it will be a big player in the crypto world for many years to come.
Data storage, record keeping and big data are important parts of the future.
Entry: 0.0054 - 0.0063.
TP1: 0.0087.
TP2: 0.014.
TP3: 0.0225.
Stop-loss: 0.0052.
Risk/Reward: 2.59:1.
Please like and follow if you agree with this idea.
Good luck!
Disclaimer: As usual, this is not a perfect prediction. Don't put all of your money into it. If you don't know how much to put, you can learn how to hedge properly by using common sense and a search engine. I will be posting some updates as I have been doing in my previous posts, but if you want live updates, check out my signature and join my Telegram Group.
STR - Time to Get on Board the SpaceshipStellar, Ripples cousin, is ready for another take off. The spaceship was getting some fractal and geometric fuel. Now that this process is completed, we're ready to go to the stars and beyond. Andromeda is awaiting for us.
Entry: 2000 - 2500.
TP1: 5200.
Stop-loss: 1800.
R/R: 1:16.
Song for the ride: www.youtube.com
Please like and follow if you agree with this idea.
Good luck!
Disclaimer: As usual, this is not a perfect prediction. Don't put all of your money into it. If you don't know how much to put, you can learn how to hedge properly by using common sense and a search engine. I will be posting some updates as I have been doing in my previous posts, but if you want live updates, check out my signature and join my Telegram Group.
XRP - A Journey to #1 in MarketCapBitcoin is still growing but competition is getting tighter and tougher with the triplet Ripple, Stellar and BitShares. Drapple is here to take XRP to Andromeda and beat Bitcoin along the way. Bankster will take the lead, at least temporarily.
Entry: 18000 - 21000.
TP1: 34000.
TP2: 40000.
Stop-loss: 17000.
R/R: 1:20.
Song for the ride: y2u.be
Please like and follow if you agree with this idea.
Good luck!
Disclaimer: As usual, this is not a perfect prediction. Don't put all of your money into it. If you don't know how much to put, you can learn how to hedge properly by using common sense and a search engine. I will be posting some updates as I have been doing in my previous posts, but if you want live updates, check out my signature and join my Telegram Group.