btc parabolic broken? Parabolic trend thats been intact for years has broken. (expected it cant go on forever) temporary correction?
Parabolic
Bitcoin maintaining parabolic trend along with a bullish pennantBitcoin has been forming increasingly steep trend channels, producing it's parabolic ascension in price. It show's no sign yet of breaking this ascending curve pattern. It is now forming a bullish pennant pattern after retracing 61.8% on it's last impulsive move. I would expect Bitcoin price to break up out of this pattern and continue to trend up in it's latest channel.
If it were to break down further, it would need to find support on top of the previous resistance of channel 2, indicated in blue, in order to preserve it's parabolic market structure. If it breaks below, back into the previous trend channel, we'll need to reassess the parabolic curve.
ETH prices about to CRASH!!!Over the past few weeks, we have seen the price of ETH go parabolic. Anytime the price goes parabolic, the price will always experience a substantial correction. The question is not whether it will crash - it definitely will crash - but when is the peak. There are several signs that this is the top.
1. Bearish Divergence on MACD and RSI
The prices are rising higher, but the histogram and the RSI fail to increase. This means the trend is losing momentum; the price just isn't increasing as fast previous upticks (when you zoom in and look at the last 20 or so candles). It could indicate that there isn't enough future buyers to sustain the same price growth. And without enough buyers, the price plummets.
2. Rising Wedge Forming
In the last day and a half, the price has been forming a rising wedge. The prices seem to be squeezed in an upward triangle (purple lines). Although the prices are rising, the resistance line is rising slower than the support line, indicating that the bulls are struggling to push the price higher since the prices are climbing slower and slower. The bears have shown strong resistance and will soon take over once the support line breaks.
3. 5 Elliott Waves completed
Uptrends tend to travel upwards in 5 waves. 3 of the waves go up (impulse wave), and 2 of the waves go down (corrective wave). Waves 1, 3, and 5 are impulse waves, while waves 2 and 4 are corrective waves. Each impulse wave can be divided into 5 subwaves. After the five waves a correction occurs, the price usually retraces between 38.2% to 61.8% of the 5 waves combined. The percentages come from Fibonacci ratios that commonly occur in nature (and in the prices).
I have drawn out the Elliott Waves, and ETH just completed or is almost done the five waves. Note that subwave 3 was extended.That means we will retrace 38.2% to 61.8% or down to the $650 to $950 range.
We have also completed the 5 sub-subwaves within the 5 subwave.
What if this analysis is wrong?
We are never certain in trading, and I could wrong. Perhaps, Ethereum will experience only a minuscule correction before skyrocketing to the moon. It may develop an extended fifth wave. That is why I set stop losses. However, with these signs, I think that a crash is the most probable course of action. In trading, we trade based on probability, not certainty. Most similar setups in the past have led to a crash. *cough* Bitcoin to $20,000 *cough* Litecoin to $330 *cough*
Conclusion
A temporary top for Ethereum is definitely near. If Ethereum doesn't drop within the next day or so, it will eventually collaspe in the following days. The price has simply gone up too quickly too fast. It's better to not be greedy and buy back during the dips.
For daring and adventurous traders, I have outlined a short setup with the target and the stop. Please note that this is very risky as we are still in the uptrend for the time being.
SYS holds potential for explosive parabolic gainI have been watching SYS for nearly a year, assessing its technicals and fundamentals. The iron is hot.
Chart shows many chances for notable gains provided to traders through 2017. For long term investors, it has been, and continues to be a lucrative hold. Current technicals and fundamentals look positive.
Technicals
The red resistance line established through 2017 has been broken as of late December
A convergence of support exists at current level
Marked increase in volume average
When BTC began its new rise early October, SYS demonstrated resilience beyond many other cryptos (but of course continued to display its own kind of inherent volatility). It finally gave-in a bit in early December during BTC's parabolic move, but not for long at all. It began a reversal ~Dec 14th which broke long term resistance.
Target: 22k sats
Fundamentals
Syscoin project has been in existence since 2014, has a well-established development team. Their product is functioning, and is updated and expanded regularly. They have a good history of delivering on their roadmap, including the first functioning decentralized marketplace entirely on blockchain.
Upcoming deliverables include:
Masternodes: Ability for transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k/3k masternodes, etc). Return on investment is promising. In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility during sideways times as holding will be incentivized.
Blockmarket Web: This brings their existing decentralized marketplace to the web, enabling ease of use without downloading a wallet or waiting for sync.
Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in near future which will further compound the degree of anonymity provided.
Integrated crypto exchange utilizing Flypme and Changelly (Exchange back and forth between 20+ cryptos, including SYS, directly within wallet)
Instant Send: Send and receive transactions instantly. Similar sending capability as DASH, but a step beyond: A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.
Rebranding currently underway, and the promise of a significant marketing campaign to be launched leading up to Core 2 release.
Over 1 million SKUs to be added to Blockmarket through their Merchant Pilot Program (NDAs in place as to who these merchants are).
Ethereum Virtual Machine: Will run ethereum contracts much cheaper and faster at a fraction of the Ethereum gas price.
Syscoin's parent company, Blockchain Foundry, plans to soon go public as an IPO on a Canadian stock exchange. The company objective is to promote full use of Syscoin as a DApp platform by providing blockchain solutions to businesses, organizations and institutions. As such, the Syscoin team tends to avoid hype or other questionable activity common in this market, because they must pass a certain level of scrutiny to be accepted on a Canadian stock exchange.
I could actually add more points to the fundamentals, but I'm tired.... anyway, the fundamentals are good as you can see.
Enjoy, and trade/invest responsibly! You are responsible for your own trading decisions!
What if...?I will stop doing proper TA until this bull run is over...I mean really over coz we've been mislead looking short term and comparing to actual crypto global market cap but we know the big monies justed got started flowing in. leaving a lot of potantial for this market cap to grow.
Now if you check LTC and ETH biggest bull run in 2017 you will notice price multiplied by +/-60 in 2/3 months depends where you take it from... Here is what happens should we apply it to XRP... and it is not that crazy as some would believe. Food for thoughts
EOS breakout upcoming!EOS is backed by some good technology and thus has huge potential for the future. Today I'm looking at short and long term. What you can see, is that both short and long term are looking great. Nice triangle on short term, backed with a very strong parabolic support line on the long term. I will keep you up to date for price target.
Humaniq 28-12-2018: Parabolic growth curveI dont know much about this coin fundamentally and Bitcoin seems to be very weak right now as every possible pattern it can make will end up being bearish this and next week.
Alts will drop if BTC drops or if it moons, so ur better of not holding any alt coins. HOWEVER I wouldnt sell HMQ right away, stop loss it beneath support but dont sell it yet.
Base 4 and the upper target (Base 5) arent there yet.
Take every alt coin prediction with a grain of salt next week.
BTC Parabolic realized with Sinus Function Midtime Target 7000$Idea from Peter Brandt, the Bitcoin -1.05% (BTC/XBT) is rising in parabolic function, so i try to use the sinus function and fit the parabolic gradient to the chart.
Maybe this Experiment works, otherwise i have hopefully found a way to save my chart´s in public without to must buy the Pro Version of Tradingview.
@Tradingview Creator, maybe it is possible to sell in the future a student version, would be great.
Every feedback is welcome, i see every advice as a possibility to get better.
Twitter:
Dipl_Ing2k17
PeterLBrandt
₿TC Filling Positons & Keeping a 27k By New Years TargetI am filling my positions throughout this area with stops set at $10,900, this is Bitfinex BITFINEX:BTCUSD so adjust your own markets as I do accordingly. Use proper risk management always, I set my stops and don't touch them once price action begins , if the stop hits and then rebounds I don't FOMO, I simply relax and look for my next entry.
4 hour BITFINEX:BTCUSD
If the Daily closes below 11,125 I expect a test of 10k, BITFINEX:BTCUSD if we break that then hard fall to the Ichimoku cloud (Senkou) top. We did cross the Kijun-sen (Base Line in pink) so I do expect some quick dips creating some nice bid positions in the bottom of my range.
I am not adjusting my year end target for $27,000, if we break down below 11k again and close on the daily then I will take a look at readjusting my target.
Since parabolic trends seem to have suddenly been discovered by some new day traders here is our accurate trend for perspective. Big range there, support could be adjusted to reflect the last rise but I never updated it because a correction was badly needed.
I posted this on twitter but not TradingView when I saw the drop coming:
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These are extremely dangerous conditions if you do not know what you are doing with leverage, I highly recommend to stay away from leverage if you have under a year of day trading experience. Even then I am using low leverage due to higher volatility, don't get greedy and enjoy the ride whichever direction we break, look how far we have come, I have a pinned tweet showing a video of price action from 2012, my message with it still applies. I am not stressed, quite the opposite. Corrections are good, and truthfully..... this is nothing, ₿itcoin has seen way worse .
twitter.com
Playing this song below on repeat for awhile ;)
www.youtube.com
Neo: Big Bull Move ComingCheck my previous post to see longer term target on Neo. We have finished our ABCDE correction essentially. Also broken out the channel. We will Neo pass ATH in early 2017. What are your thoughts?
Trade with care.
Hard Fork is planned to execute on December 28thSpoke to the Founder Jaap today on LinkedIn. All going ahead as planned. Watching for parabolic rise. 1:1 with bitcoin.
BTC Long TermI think we have some more upward movement before bubble is burst, one last big parabolic run up before the big correction :)
Not sure where the top will be or where it will correct too
Update: Mayer Multiple ReversionThis is an update to a previous post noting the resemblance of the Mayer Multiple breakout to the trend in early 2013. Unfortunately, that post and several others were apparently in violation of TradingView rules because I had linked to my twitter account and emails.
Anyways, since then the multiple has reverted back to the 2SD line. I'm increasingly convinced that technical analysis fails to predict where we go from here because of complex social and political factors. Still, it's interesting to note the resemblance, and the indicator is a good way to keep track of the parabolic trend.
Cardano Doubles in Price since Breakout - 12-18-2017Cardano ($ADA) has gone parabolic and to the moon! Price has more than doubled since the breakout on 12/16. As new all time highs are made, it is very difficult to predict a short term target as there is not any history or pullbacks to adequately project this. Therefore, I have used the 4 hour chart and the pullback from Sunday to project a target of 3069 Satoshis, based on an equi-distant move of the height of the triangle. This target does coincide with the outer Bollinger Band (2.5x STD DEV) and so I feel it is as good a target as any.
If you like this post, please click the Like button, tell your friends, and re-Tweet!
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
Parabolic Curve broken at 10k and new Parabolic trend formed.
Prior Trend dating back more than 2 years was broken when we broke 10k early, a new one is forming, this current one showing in the main idea could just as easily be broken because I like to see a solid pattern play out before charting a new Parabolic.
ETH trend channel and parabolic I think with all this new money pouring into crypto ETH could break up the resistance trend line like BTC did and go parabolic!
Parabolic BTC for XmasJust toying around with a 7-day repeating pattern with exp. growth. Fun thought!
Bitcoin returns to parabolic trendNine days ago I fiddled with some red lines and thought about a return to parabolic pricegrowth of Bitcoin. The next days might return the price to the parabolic increase - while CBoE futures join the system and we wait for the big one: the CME, possibly breaking out on the upside once again. Target: 25000 USD? Why? Because we like 'round' numbers, especially 25% of 100k. Comments?
BTC/USD quick analysis and projection
BTC has been in the spotlight with its recent parabolic movement. Using trend analysis we have a short 24 hour break to the upside making new ATH on Coinbase/Gdax at roughly $19,726. Forming a consolidation pattern that is desperately needed. Fibonnacci retracement has support at $14,075 that needs to hold to stay in pattern. This is also a buy entry level to add to current long BTC/USD position.
If .618 Fibonnacci retracement level/support level holds it is also a potential buy entry for opening new BTC/USD long position with a target of $21,843.
StochRSI is oversold but there is very little volume coming in so caution is warranted for opening new BTC/USD long positions. Look for extra confirmations of continuing support at that level or price channel holding/uptrend forming with higher lows and higher highs.
Let me know what you think!
More to come :) Thank you!
Parabolic Support line IOTAAfter a big decrease in value of IOTA, it looks like it's growing again. If it continues like this, I think IOTA will reach a new peak.
