Bitcoin overdue for a move up, here's why:
1. Looking at the long term weekly log chart, one can see that we are currently moving toward the bottom of the downtrend channel. It is very likely we bounce off the bottom of that channel.
2. RSI is in the toilet, the only times in the past where it was this low were excellent times to go long.
3. Elliott wave theory...
Hello,
We have a big dilemma in hands. XBT has strong solid support at 3K because it's a known price talked about by almost everyone in the crypto-space. Seeing the fig retracement placed at the beggining of this huge drop, we can see we have broken many of the support levels.
The red lines signify the bearish wedge we are located at right now with a strong...
The orange lines are all the same, they show the angle of decent in our recent crashes.
The yellow lines are all the same, they show the angle of descent of freefalls during those crashes.
Will the market correction (aka "crash") drop us back to the previous set of trend lines, around the $200 - $220 range?
Would you say I'm crazy if I told you I wouldn't be...
TVC:DJI Winter is coming....
Classic Double Top with RSI Divergence. We have just closed below the 8 EMA on the monthly chart. We are in a extended trend on the 7th wave and a failed 9th wave. I will be looking for shorting opportunities on the weekly and daily charts. Panic is going to set in and the media is going to love it. This is the set up for the...
The blue line is most probable. Since no recession, the red line is very unlikely and the orange line is also unlikely. The green line seems to be losing probability fast.
I've presented a cross comparison between the S&P 500, the 10-2 Treasury Yield Spread, and the FED Funds Rate. The yield curve has been effective at predicting recessions in the past. I think the next will be no different.
There is a lot of fear at the present moment that we may be on the verge of a market crash. We have seen a large correction that is likely...
Today is another depressing day in Crypto headlines. The founder of ethereum says 2017 rise was due to hype , leading some to likely draw an inference that such things will not happen.
South Korea announced plans to tax crypto-currency. Here is where I get aggravated.:
IF you got involved in Crypto thinking you could make money in a fashion similar to traditional...
The decision of the Brexit Referendum resulted in the key price level of 1.43 to be broken in 2016.
This support turned into resistance and the price successfully rejected the price in the beginning of the year.
A nice short opportunity presents itself: Wait for the weekly candle to close below 1.2730
First Take Profit 1.2509 (0.786 FIB retracement level) ...
-Bitcoin is crashing slower than expected; (uncorrect time frame)
-Bear market might last longer than expected;
-Crucial support was crucial, Bitcoin rested above it and retested it way more than i would have expected;
-Once support broke Btc immediately dived, to form a bear flag around 5400;
-Then Btc went to the 3.500 and bounced;
-The time frame was not...
If we close today above 4200 mark, we will get a strong buying candle on Daily timeframe , which confirms the Morning Star Reversal Candlestick Pattern.
Also, we have a double bottom playing out. Strong buying signals which tells us we might see a bounce on Bitcoin price between 5000 and 6000 levels.
Hope this idea will inspire some of you !
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Kindly,
Phil
All FAANGs look similar - bad. I as said in previous Oil analysis IMO a global market recession begins. It take some time and mayby one more leg up on stock market. Here is great example - Apple which loses strength and soon trend will be bearish. As I warned You against bitcoin, now I give you a signal before the "experts" notice it. Untill this time all of use...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Bitcoin is crashing and continues on doing the same !!
BITFINEX:BTCUSD is down by more then 80% this year!!. We are looking for another significant drop to the @3000 level, thats another 25% wow!
From my experience stay on the sidelines or short sell!!
Follow your Trading plan, remained disciplined and keep...
This past week I have been haunted by visions of catastrophic red candles on the $btc charts. Like bottoming out at 1400-1600. The final shakeout. Beyond oversold. So traumatic it detonates an all-out bull run that makes Tom Lee the luckiest fortune teller of the season, or at least gives him a an ego boost he doesn't need.
At this point I don't really care if...
With an extremely weak black friday turnout this year and an already bearish move these last 7 weeks, I expect SPY to take a further move bearish next week.
