Xbteur
Bitcoin cup and handle quick chartWe are at the 50% retracement line. We are near the bottom of the wedge and we are near the end. I think all in all things are gonna go up from here and it will break the upper boundry and shoot up.
BTC The countdown is nearing.XBTEUR hit 0.236, ready for a bounce in the regions of 0.618/0.786.
My target is €385 however it could drop as far as €377 in order for it to bounce off the trendline. This is also a 0.382 retracement line from the low in march and the high in April.
BTC | The final countdown.Big dump from 3015 and now retracing that dump, it'll retest the structure, fail and drop.
Once it begins to drop, depending on market sentiment it could floor to 2800 or bounce at 2850 support.
After ~2 days consolidation from the point it hits, it will fly up to resistance and test for the third time with a breakthrough.
Shorting the bounce then longing the bottom.
XBTEUR: Republishing with weekly viewIn my last Bitcoin chart, I covered the monthly developments in the Kraken XBTEUR pair.
Currently we're one week away from the end of the year, and closer to get more clues about the recent developments in price action.
After this week's close, I'll be able to determine the direction in the short term, and after the monthly/yearly close, I'll have a much clearer picture of the main trend's progress.
On demand from one of my followers, I used weekly bars and overlaid them with the MTPC indicator, since it provides us with an 'inside scoop' on the monthly price action while the bars are developing.
Right now, Rgmov is in a strong uptrend in the weekly and next week is decision week for Bitcoin.
If we don't see price move past 457.02001 in one week, it'll be of moderately high probability to see BTC price slump and head a bit lower in the intermediate term.
I'll update this one when relevant.
Cheers,
Ivan Labrie.
BTCCNY: Bitcoin's following stocksI expect to see a bit more of a selloff in BTCCNY.
The options expirations we had on Friday/Saturday implies no downside protection, and clearly the market already started to react to the record amount of puts that expire in the 1800-1900 region for the S&P500.
BTCCNY has been following the stocks' direction since July 2015, which is interesting, and comes right after the LTC 'pump' and the suspicion that chinese investors were using BTC as a means to escape regulatory controls and move money offshore. Price action justifies this line of thought, clearly.
This decline is a retracement in a larger monthly uptrend. You can check the related ideas for my larger picture view of the rally and targets, and also check out the signal I gave to my group today below:
Contact me if interested in getting timely alerts for all the BTC trade setups that we cover.
Cheers,
Ivan Labrie.
XBTEUR: Bitcoin's monthly signalsIn this monthly chart I have outlined the different support and resistance levels on the monthly chart for Kraken.
I'm using this pair, since it appears to have real volume data and a more legit price action so to speak, unlike that of other exchanges with wash volume , rogue market maker activity and whatnot.
The target for the first monthly signal has been long reached, and part of that trade could be closed there (as signaled by the chart). I had shared monthly longs to capture this movement before, but for btccny1.00% at btcchina and also bitstamp .
Currently the trend is up and we have more and more evidence of continued strength.
As long as price is supported above 324-354, it'll be more and more probable to see further continuation.
I will update this chart when we get a new monthly long signal, with a defined entry, exit and stop loss.
Potential targets are on chart and also the target for the currently active trend in pink.
If interested, I'm running a Bitcoin trading signals group, contact me for more information to join.
Cheers,
Ivan.
BTCUSD/BTCCNY: Intermediate term trend signalThis chart presents trend signals for 8 Bitcoin exchanges, using the daily chart.
If price were to move to the entries on chart before the daily close, it'll be a very high probability trade, considering the recent failure to move up, more than once, and the increased volume present on the profile distribution.
Good luck if taking any of these trades, and remember to check out my private group information.
See my twitter page for more info on how to join: ivan_labrie (first tweet).
Cheers,
Ivan Labrie
P.S.: The long term outlook won't change unless price moves under 1548 in Okcoin, keep that in mind, so I will be going long in a separate account as well. I'll update the chart after the daily close.
