Potential bullish signal?The same pattern was able to be identified in the last correction which lasted about 2 months before it finally got a bullish breakout, still waiting for a high confidence bullish breakout.
Btcusd4h
BTCUSD Upcoming MOMO? *Bring Your Charts*I think the Corrective phase on BTCUSD is over, and we are currently in M-wave 3. (Long-Term View)
I think BTCUSD might continue & bottom out creating an Irregular Flat Corrective pattern near $4000 - then continue. (Short-Term View)
If you guys have charts you would like to provide for an alternate view on things I would appreciate it!
BTCUSD History Repeats Itself? *Very Cool Find*Check out these two moves on BTCUSD .
The correlations between these are insanely accurate.
This is beginning to look more bullish guys.
Interesting Find On BTCUSD *Controversial*Despite all the news that came out on BTCUSD ; the overall Trend is still looking Bullish.
The Trendlines starting the end of May + Fibonacci + VWAP is pointing towards strength, but there are still a few minor Road Bumps before we go higher on the lower time frame.
I will be posting up lower TF charts.
BTCUSDPart 2 BITCOIN
As promised, my second part Bitcoin with TR 2 - 4800-5000.
We see that we have here Classic Elliott wave 12345, as in a book. In combination with Fibonacci levels.
TO BE CONTINUED.
First chart attached below.
Rise in Price to 3000 resistanceMinor pullbacks seem to have to occur for such higher price, meanwhile price is rising as I see Traders Dynamic Index (indicator window) pattern occur again.
Bitcoin bearish cypherIt seems that a bearish cypher is forming. So long till 1180-1190 and then short
EMA200 now acts as resistanceI should stress, this is not a trade I'm executing!
Now that I've said that, after a precipitous decline Bitcoin finally experienced a dead cat bounce of note. After all the technical damage done it seems unlikely it will suddenly rally hard from here and volumes on this bounce seem to support this.
As I said before, I'm not opening this trade but rather waiting for a bottom. If a rally is to be sustained at a bare minimum we would need to see some consolidation until the first rising (orange) trend line is met. From my perspective though, Bitcoin operates heavily on panic and at least on a four hour timeframe I don't think we've seen that yet. Perhaps it is amateur of me to discount China markets however purely from a USD standpoint the Bitfinex margin rate is ~3:1. Based on this those who opened margin trades at this recent top face liquidation below $800 and this supports the thesis this longer term (ie. 4H) bounce is short closing from higher opens. Time will tell if I'm right and if so we will either see flatlining (consolidation) or a final push down to a panic zone below $800 at which point all hell will break loose as margin calls start piling on each other.
