BTC triangle and bump and run patternVolume is coming up and BTC has broke both the inside bar pattern and symmetrical triangle.
So far resistance at 10000 is holding.
Next levels of support/potential lows are at 8300 and 7500--sounds low but both levels would be consistent with rate of decline BTC has been experiencing lately.
We are also at a critical point in a bump and run pattern (below)...another leg down would put us in the run phase.
Gdax
BTC, bear trend holdingOverview:
Short-term bear trend in the context of a longer-term bull trend.
Resistance @ 13000-13500
Support @ 10000
Symmetrical triangle (continuation signal) + falling volume.
Inside bar setup w/ false break (blue rectangle)
Keep an eye on which way the price breaks--above or below the triangle and inside bars.
Remember that we are in a bear trend. Trades counter to the trend are certainly possible...just more risky. BTC has a lot to prove before we can say that the bear-trend is no longer in valid.
Projected Bull Run Based on Recurring Price Action - BitcoinAs can be seen in the blue box on the left, following the December 21st dump, a head and shoulders pattern formed which lead to another sell-off. After the sell-off, a bull run began (1-5) that lasted almost a week before more substantial sell-off occurred. The recent dump that occurred on the 15th of January has given rise to remarkably similar price action as depicted in the blue box to the right. Price activity is also now beginning to look similar to the price activity in late December that turned out to be the beginning of the 1 week bull run. I have sketched out what may occur if a similar bull run plays out over the next few days: After a brief drop in price to around 10,400K (2), bitcoin would break the regression line (dotted line) and stall at around 12K (3). Bitcoin would then drop to test the regression line as new support (4) before making a final run to test the resistance line that has formed from the 17th of December (5).
The most attractive buying opportunities occur at 2 and 4: Buying at around 10,400k with a stop loss a bit below 10k (2) and buying at the retest of the regression line with a stop loss a bit below the regression line (4). However, since there is no guarantee that a bull run similar to the one that occurred at the end of December will play out, buying at 2 is riskier. If price does bounce at around 10,400k and stall shortly above the regression line, then purchasing at the retest of the regression line would be the more attractive option for cautious traders, as the outlined bull scenario will have been given more time to prove itself. The drawback, of course, is that you miss out on a larger portion of the run.
This is my perspective on what I see as potentially happening over the course of the next few days. Price action may not play out as it did during the brief bull run that started at the end of last year, or even if it does, some event may hinder this scenario from playing out fully. Fundamental analysis is important. CME futures contracts expires on the 26 of January, for instance.
Note: I used an Elliot wave tool to sketch out the bull scenario, but I did this only to highlight price action in a way that presents the information clearly - both visually and in writing. I didn't count waves or make sure that wave counts follow conventional rules, this is not an Elliot wave analysis of price action.
Bitcoin BTC - The ride isn't over...Full Disclosure: I am in no way offering any investment advice in any form. I am not a professional. Some of my terms/wording may not make sense or follow the trading "lingo" standards. If there's something I've missed or incorrect about, please let me know. That way, I can learn from it. My technical analysis falls towards inline of a hobby and should be meant to be taken with a grain of salt.
Everyone is saying the bear trend is over and now were at the start of a bull run. I just don't see that based on my TA's. Historically, I've always seen 5 waves of movements involving large price changes in Bitcoin. Both the long and short wave trend all falls into Wave 3. It looks like we're on the rebound towards Wave 4 before the final correction will occur at Wave 5. Of course, all this speculation gets thrown out the window if this uptrend continues past the 50 day EMA. If that should happen, I'll re-evaluate and update my position as well. For now, it seems this is nothing but a waiting game.
Bitcoin BTC - Wave 4 Reach - Long OpportunityFULL DISCLOSURE: This should not be interpreted as investment advice. I am not a professional and any input relating to my trend analysis is done on a hobbyist level. Please take any assumptions that I make with a grain of salt.
As I previously mentioned in my last published idea , it seems like the BTC market has reached Wave 4 and is now following the trend towards Wave5 where consolidation may occur. This would present an ideal buy in/long opportunity if it hits anywhere near the 200 day EMA range or if it breaks below the previous support.
ETHUSD Providing Opportunity for the Next Week5 Step Elliott Wave 12.10.17 to 1.13.18 followed by what will be an ABC Elliott Retracement forming a cypher pattern that depicts the following...
-AB Leg, hitting pitstops/resistance at $1,000 and $1,100 before stalling at $1,250 and falling into the BC Leg
-Just remember that the BC Leg is SUPPOSED to drop dramatically in order to grow us to new levels, strong hands are needed and don't panic sell... if anything, look for C to hit at either the $800 or at worst, the $650 mark. What a great opportunity to grab some discounted ETHUSD and ride it up the next uptrend
-Remember that there will be some speed bumps along our journey back up towards the ATH as we follow this cypher pattern= $1000, $1100, $1200 and $1380... If we hit $650 at the fib ret 786 then expect to climb back to $1200 before major resistance... If we hit $800 at the fib ret 618 and where our A Leg ended at, then we should expect a climb up to $1380 with major resistance as we fight to surpass the ATH
*This is in no way financial/investment advice. This is purely for educational purposes only.*
Why possible breakout soon?Fundamentals
-gdax will resume bitcoincash trade for EU costumers.
- Market short term sentiment is turning bullish again (slowly)
Technical
- Long period of consolidation inside the channel (2200;2700)
- 1 breakout, but Korea fake news killed the momentum.
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Any contribution will be welcome!
BCCBTC - BitcoinCash/Bitcoin Coinbase EU & GDAX Price PredictionI applied Fibonacci Retracement to the Elliott Waves (which all follow the rule to my knowledge), with Wave 5 being the exception as I predicted that with that last time BCC got listed on Coinbase. The support and resistance is calculated from the behaviour of the coin in the last few weeks. The timing is based of an average of a-lot, and I mean a-lot, of Fibonacci Time Zones, along with the times that Coinbase EU & GDAX will list BCC.
BTC: 17Jy8drNeGP5QgUfFSa4ZxxiEGpAgywtZe
ETH: 0xb2401351b54db536e827f1809a3c01d0187ecdda
LTC: LTaXgLiBwgGapqisnnVMe6bmW6XqhNcTve
BCC/BCH: 17Jy8drNeGP5QgUfFSa4ZxxiEGpAgywtZe
LTCUSD Reversal Heading to $300LTCUSD saw a break out from its consolidation and resistance near the $250 level, a higher low near the $230 support will confirm a Bullish reversal and we will start heading to price targets at $285 and $325. A breakdown from $230 can lead to $190-200 levels which are more attractive entry levels for long positions. The market will dictate if now is the time for reversal, patience is key here, buying the break of $250 can also be a profitable strategy.
LTC is back at it again! Correlation chart 4HLTC is climbing it's way back up from bottoming out. Let's see if it can make a new ATH. There is a fundamental / possible rumor in play that it could be implemented as a payment option for facebook. Zuck has came out and said that he is looking into implementing crypto and Charlie Lee has sold all his LTC so he can not have financial ties to the project, but he still supports it. It is looking strong here. Do your own research and this is not advice to take any position.
BTC Reversal Heading to 17KBTCUSD has had a consolidation breakout getting turned around at the low $15k range. A higher low here will confirm the bullish reversal and set BTC for upward movement. 14400 is providing a local support, a convincing break of $15000-15400 will show strength for future price action. Buy orders at 14500 carry some risk as the market is still deciding whether or not a higher low will be made. Buying the strong break of $15-15.3k is a profitable strategy.
BTC: Bitcoin's downtrend line, Bearish unless broken.Bitcoin have been under this down trendline for couple of weeks , any increase in the price is a bulltrap unless other wise is proven (meaning unless this trendline is not broken, Bitcoin is bearish)
Always keep an eye, if you want to ride these daily waves make sure to set a sell loss just in case the price drops back down.
~DCFreak