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Bitcoin AND the Libra Hearings! This will indicate the future.While some are saying that these declines are corrections, others say its a bear market.. but, I say it has a lot to do with the recent threats of cryptocurrency regulations and the Facebook Libra hearings. Keep an eye out, because Libra was put on pause until Facebook can be grilled about Libra. Libra isn't the issue, but regulations are. Just like stock markets decline on Fed Minutes, earnings, jobs reports... the crypto market is also awaiting these hearings. I suggest to get out of the markets until there is a clear decision made on Libra and proposed regulations. If Libra gets the green light, get in, because the entire crypto market will definitely rise back up. If they decide to ban Libra, and regulate.. for SURE we'll see new lows. If you're out of the market, you'll be safe. Let's hope the Financial Senate Committee. Unfortunately, the first day of the hearings weren't great as headlines read "Senators aren’t sold on Facebook’s Libra project".
COINBASE:BTCUSD
by WorldEconomics
1
Bitcoin, where is the end of correction?Just as my last update mentioned, bitcoin correction is near, but I don't anticipate the final high price can reach ~ 14000. After FOMO from crowd, the price soar like a crazy cat, but now we also see the correction after FOMO. There is an important question: where is the end of this correction? I'd like to guess the correction bottom from several aspect for your references. Correction percentage: Let's have a look at the history correction percentages for bitcoin in bull market: From : 25.Aug.2015 to 11.Nov.2015, price soar from 198 to 502, and then correction to 294, Correction percentage: 68% From : 16.Jan.2016 to 02.Aug.2016, price soar from 352 to 778, and then correction to 465, correction percentage: 73% From : 2.Aug.2016 to 11.Jan.2017, price soar from 465 to 1140, and then correction to 751, correction percentage: 57% From : 12.Jan.2017 to 25.Mar.2017, price soar form 751 to 1298, and then correction to 891, correction percentage: 74% From : 25.Mar.2017 to 16.June.2017, price soar from 891 to 2980, and then correction to 1830, correction percentage: 55% From : 16.July.2017 to 14.Sep.2017, price soar from 1830 to 4979, and then correction to 2972, correction percentage: 63% From : 15.Sep.2017 to 12.Nov.2017, price soar from 2972 to 7888, and then correction to 5555, correction percentage: 47% As you can see, the correction range in , average correction percentage is ~ 62%. This number is very close the fib number. So my predict is ~ 7300 with 62% retracement. And from the history, we can observe is that almost every retracement percentage is more than 50%, so 8600 is the price level that we may expect break at the first stage. and then 7300, and then even more retracement with 70%, price ~ 6500, which is very close the current weekly MA 20. but I don't think this price level can be touch in this time of correction. First target ~ 8600 Second target ~ 7300 Third target ~ 6500 And then, the question is how to trade? If you're a long term holder, buy bitcoin periodically after price break ~9000. if you're a short term trader, follow me, I will try my best to update the latest TA info. My investment plan: I have two type of investment into crypto: long term holding and short term contract trading. For the long term part: 1/3 fund buy ~ 8600, 1/3 buy ~ 7400, 1/3 prepare for the potential drop below 7000. Watching closely for the daily RSI, if it touch or near 30, I will buy some of my fund immediately. For the short term contract trading. since I'm holding the short from ~12000, and I'm still hold all of short contract, in the end of this week, I will consider to hold or close depends on the TA.
Short
by HuPan
1
Enough to go onIt's been a quiet year, not for lack of attention, but either nothing material has changed, or the information hasn't been indicative. Short term - going down. Medium term - range bound. Long term - $13,000 will be the new floor. $13,000 USD has turned out to be a key level. It's a 1/3 FIb retracement off the ATH, and the current Fib. retracements off of $13K match up very will with other trending supports - $10k, $9k, $7.5K, $6K and $4.5K. I"m giving even odds that we tickle $7,500 before year end, and likely before September. Don't see us going much below that, except for maybe a brief visit to $6K, and it's unlikely to touch $4,500. So of my BTC purchasing power, I'm putting 10% at 9,5, 20% at 7,5, 50% at $6,5 and leaving 20% uncommitted. I don't think we'll touch a lot of the bottom, but we're going down before we go back up.
BITFINEX:BTCUSDEducation
by BigDataBarista
LTCBTC zoomed outLeaving this mostly up to self-interpretation. Looks like LTCBTC is building some support on the lower blue trendline after collapse in the last few hours. There's a longer term trendline below that still that could act as support, though I hope we don't go that low, nor do I think we will. If we close this weekly candle above .11 that could be slightly bullish for me, but we're still below significant EMAs that only took a matter of hours. Speaking of EMAs, the 50w and 200w EMA have been getting closer recently, but there has not been any gold cross yet, which means that the 200 could reject passage of the 50 above it, being somewhat bearish. After all is said and done, now is a better time to buy than a few days ago.
by jbutler7
MONSI, WHAT HAPPENS NEXT? - people as me.What up guys! Let's get straight into it: We see a clearly bearish flag on the 4-hourly-BTC-chart that formed the last weeks (orange). Normally we would expect a correction after a bear flag, however a bullish pennant started forming in that bear flag, which is in fact a pretty bullish sign. Also by looking at the MACD, which is about to cross, we see another bullish sign in the short-term. Though seeing a short-term uptrend, there are a lot of resistance levels to stop the optimism (red zone). By looking a the upward opportunities for BTC we also should look at the 50-MA as a strong support line in case of a move downwards. If the bullish pennant breaks, a short term correction to the 50-MA and even lower to 8070$ (green line of FIB) is highly possible. As always, just invest what your willing to lose. Peace out! Monsi
BITFINEX:BTCUSD
by Monsi