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BTGUSD

BTGUSD $525? Elliot Wave AnalysisBullish Indicators: -Strong support at 61.8% retracement level, bouncing off twice with it being higher RSI on the second test with 29 RSI first touch and 36 RSI second touch -Solid entry point on stochastics; it is about to break the 20 level -Trading at the bottom of RSI and stochastic support -Bullish MACD divergence on 1h candles Price Target 525 Stop Loss 250 Descending triangle correction with ABCDE filled out - I drew it another way as well with only 3 ABC's completed, so it may have 2 more ABC waves ahead before move up I thought the correction looked like a flat at first but I decided against it considering it didn't retrace nearly as much as it should if it was one. Not only that, but the correction after wouldn't be a 5-wave. Please leave any feedback in the comments and PM me if you have any questions, I can't reply to comments due to recent moderation action
BLong
by gelnd
4
BTGUSD: Back in the next Buy Zone on next pull-backBTGUSD Update Buy on next Pull-Back Not a good last call here. BTG did bounce from that old parallel but it only reached 313, well short of target at 320 before failing - badly. Stops were tight here so small loss, thankfully. Imagine if no stop...how bad would you be feeling now? With a stop we have at least avoided the pain that goes with a position that's sliding away from you, stops you from playing other Alts and wastes emotional energy and drains the spirit. Bad call, but it could have been REALLY bad. Look at that failure - once it loses the parallel it does that thing...comes back looking for support at the top of the nearest structure to its left. If cannot find it, it then comes back to the bottom of that same structure. Which brings us back to now...BTG is now a speccy buy at 254-248 range - better if it stops at 254 but could spike to 248. Stops on buys at 254 need to stay either very tight under 252 or under 248. Initial resistance lies at 269...needs to clamber back above here and hold for a move back to 282..it's bouncing now as this is written...and is already back at 269 (up 15 points or 5% in 10 minutes! Damn...watch to see if it holds up off 261 now on the next pull-back and then go long here - stops below 254 for move to 281where it becomes a sell again
BLong
by sumastardon
1
BTGUSD Back in the buy zone againBTGUSD Was banned for 24 hours for posting a text wall yesterday so was unable to update this - which was a pity because that little continuation pattern running down the parallel when we left it was so well defined, just backing and filling - it needed a new line over the highs as it ran down the parallel to redefine the perfect trigger for beakout... and when it came it was excellent quality, big green bear engulfing candle, again, all the things we want to see when trading a breakout. Not allowed to get to this to update, the trigger here was left at 308 for a move up to 320 minimum...in fact it shot though here and spiked into the top parallel over a 3 hour period at 339 ...from al ow at 280 to a high at 339 in 6 hours - 20% in 6 hours! Unbelievable what these can do in such a short space of time. Now it's a buy again on any dips back to 300 - it should rally to 320 minimum again and more likely to test the same larger parallel at around 330 now that it hit earlier today before coming off again
BLong
by sumastardon
Bitcoin Forks Shifting Gear And giving important signalsWe are now seeing a shift from bitcoin to bitcoin cash in bitcoin gold This has now important Ramifications. We are reaching a terminating pattern on the right time cycle is for bitcoin. I call this pattern "A struggle street pattern" We also see time and Price marrying up. The market is struggling to go higher in the short-term and certain Elliott wave patterns which you can see In this chart are unfolding This is all textbook Bryce Gilmore work - the gentleman that Larry Pasavento credits with teaching him the butterfly pattern. You really need to tighten your stop losses up As this is my 1st post the chart system doesn't seem To be allowing me to publish my charts may be I willwork this out later
BITFINEX:BTCUSD
by David_Hunt_Profithunters
LONG New to this analysis thing, comments please. BTG/USDHi everyone, New to this, this is something I came up with from looking at the charts. Good possibility I could be way off. But I think I see a couple things forming here. Time will tell. Pink line is the rough trend line I think this coin could follow. ultimately having a large break out at the top blue line. This coin seems to be tracking pretty close to Bitcoin cash 14.10% as well. Let me know if i'm way off or if anyone agrees with me.
BLong
by BigRed300
10
Ready For A Nice Cuppa??! BTG BCH THIS IS NOT TRADING ADVICEReady For A Nice Cuppa??! BTGUSD BCHUSD THIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE OR INVESTMENT Usually sheeple can't see the wood for the trees 3 month view BTGUSD BCHUSD My portfolio splits now approaching parity HODL BTGUSD BCHUSD THIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE OR INVESTMENT #cashening Bitcoin Cash Is Bitcoin BTGUSD Is Bitcoin
B
by Doc-al-Citadel
BTGUSD Neutral to bearish - next buy pointsBTGUSD Update Neutral to bearish near term Left this awaiting a successful break of the parallel to the upside having bought again around 290-288 - but the break was dud at 303 first resistance with a couple of tiny pin bars (like BCH, too) showing rejection....over about 3 hours so giving loads of time to see the top/resistance forming and therefore close out with meagre 5% profit (on top of 15 to 25% profits already banked on BTG this week alone - was banned for 12 hours last night so no updates for mistakenly uploading an LTC chart to gold chat room by mistake: Nazis in the gold room, beware) So now BTG is falling away down the parallel, not hot but not too cold either, like BCH right now. Ideally this will fall lower still, to 270 and could spike down to 262. Look to accumulate in this range with stops left below 252. Break Points Any break below 254 would be very bearish, opening the way for a good short back to 222-217 range (reverse here) A break above 308 is needed now (unlikely in near term) to trigger a long up to 320. More as this develops.
B
by sumastardon
1
BTGUSD Next Buy PointsBTGUSD Next Buy Points Well it got to 304, not as quickly as anticipated, taking a whole 20 hours or so to reach the upper parallel/target for a 34 point win in a tricky market, 2 points hy of the target, but the hit on the parallel was so good I'm claiming this one as a victory, imperfectly perfect, is all. So the next buy point here is around current values down to 287 with stops at 284, next below here will be 272 again if we see it. And the place to a to these will be on a break above the parallel...this will free BTG up to fly much higher if we see it and must be followed (usual drill on a breakout). If it can manage we have a realy good weekend in store here.
BLong
by sumastardon
1
BTGUSD Coming into the first support/buy zoneBTGUSD Worth waiting for: now coming into the first suport zone at 274-261. Put anorder in at 263 with stop about 10 points lower. Or at 270 but think it should spike down to 261 - that entire 13 point zone is full of whipsaw and pin bars, even to 10 points lower, so the stop needs to be at least 249.It should get a bounce to 319-330 area. And plan B in febrile markets: If 261 gives way this is coming all the way back to the twin dynamics shown on the chart at least and potentially to 157-150 major support. If this happens it becomes a short again with stops above 274. Then will have to see how it behaves at the parallels, may bounce and then fail. Excellent, it means a retest of the lows, easier to hit it at 157-150, if we happen to see it. Remember anything can can happen. It's way wilder than the wildest the West ever was. We just hit buttons instead of triggers. And way faster too! Say that one quickly.
BShort
by sumastardon
5
BTGUSD Neutral but with Bearish undertone below 319BTGUSD Price action has been negative on BTG over the last few hours. It's broken important support at 319 and has since made a rally back up to the old support at 330 where it remains vulnerable. The break below 319 is worrying for bulls and the rally back to old support equally worrying for bears who have corrrectly shorted on the signal, a break below 319. The stop on the short should have been just above the entry level by a couple of points so will have created a small but annoying loss. It still looks vulnerablke from here though - the only way of escape from a mauling from the bears now is to break above 330 resistance line and then bust the dynamic/upper parallel, use 330 as support on the next pull- back and we have a long trade triggered back to 390 minimum and more likely to 419 and then 480. And for the bears to win out from here all that has to happen is for BTG to fail at 330 and then lose 319 support again and it will then start to fall away on lack of buyers. So it's negative under 319 and will likely put up a big fight at this level. So it's neutral above 319 and below 330 but with a bearish undertone whilst unable to find buyers enough to beat 330. A very difficult call at this point: it could go either way...no big hint of rejection or red candles enmerging from 330 yet but no worthwile green candles either. It's neutral again for now. Bullish over 330 on a suceessful retest and particularly when the upper parallel is broken on the updside and bearish when 319 gives way and then acts as resistance on the next retest from below. A wait and watch here. Do not be tired by waiting.
B
by sumastardon
BTGUSD Back in the Buy ZoneBTGUSD Update This has been a good reliable short once the dynamic support gave way, as per comment from Monday. Now it's back in the buy zone so shorts get closed out and reversed long with stops under 318. Short term target is the falling dynamic around 350 where some day traders will reverse once more for another short with stops above the dynamic. Pin bars of rejection off this line shows it's still strong. Price will then need to break above this line and hold on any retest to trigger the next long from here. On the downside major support lies close by at 319. Any failure to hold here over the coming days would be extremely bearish for BTG signalling another good shorting opportunity back to 260 at least, and potentially all the way back to 156.
BLong
by sumastardon
BTGUSD steady whilst it holds the trend lineBTGUSD BITCOIN GOLD DOLLAR The rally today is thin and grindingly dull, but it's steady. Better to be long with a stop under the little uptrend for the day than flat. But if at any point the day's supporting line is broken it will likely force price down 25 to 30 points to 340-330 range where it becomes a buy once more. This thing has already lost the protection of the bigger trend line which is now acting as resistance. It's not nearly as good looking as BCHUSD, but so long as the this new dynamic holds up it cannot be shorted, only bought, with stops below the parallel until the pattern changes and tells us to reverse.
BLong
by sumastardon