Corn_Reaper

Corn_Reaper Updated 

Bitcoin is potentially forming a head and shoulders, in which case we should meet heavy resistance at the larger trend line resistance then fall below support of the ascending channel to print the neckline. We currently have hidden bearish divergence on the 1H chart so expecting a drop soon. This should coincide with a 138.2 fib extension from the $4488 swing...

Corn_Reaper

In my last update yesterday I mentioned that we broke above a significant trend resistance of the overall drop. The larger trend line is now holding well as support. The 1H bearish divergence played out when the price dropped to $4177 at the larger trendline support (I mentioned we would drop to $4150-$4180 and then resume the uptrend after a 38.1 fib...

Corn_Reaper Updated 

After breaking out from the $4k resistance, I mentioned in my previous post that I had lost confidence in a full wave up to my $4600 target since we had that hidden bearish divergence on the 4H. There was also a slight resemblance to the fractal on 25/26 November when the bull flag failed and headed down to print a higher low at $3684. We've now printed a higher...

Corn_Reaper Updated 

Bitcoin just broke out of the larger descending channel which i mentioned was possible in my last post update considering the bullish divergence we had on the 4H. The break never had much conviction nor the momentum for a sustained volume spike, which probably means we haven't tapped into the liquidity of the actual bottom just yet and should resume the downtrend...

Corn_Reaper Updated 

I just realised that the move from the $4529 high on 24 November to the $3657.60 low yesterday was met with a retracement to above the 68.1 fib yesterday after reaching my $4200 target. This should provide enough momentum for a continuation of the downtrend move to at least the 161.80 fib retracement level (from the $4529 high) which sets my revised target to...

Corn_Reaper Updated 

Following on from my previous post, we reached the $4200 target as expected and now there is hidden bearish divergence on the hourly chart. MACD and StochRSI are also starting to turn. Price has been following a broader descending channel since the price started crashing over a week ago and is sitting right at the channel resistance. Expecting another wave down...

Corn_Reaper Updated 

BTCUSD is forming a bullish descending wedge and oscillators are extremely oversold again so I'm expecting a move back towards the $4k before a resumption of the downtrend to the $3400 region. Bitcoin found bottom support for the downtrend on 20 November so I'm expecting a move back to this trend line support at the bottom of the wedge around $3660 before a bounce...

Corn_Reaper Updated 

There has been gradually declining volume since bitcoin started the bounce routine so in the short term, I don't expect price to rise beyond the $4770 (618 fib) - $4900 (786 fib) resistance area which coincides with the resistance of the ascending channel which price has been respecting since the start of the recent bounces a couple of days ago and which is busy...

Corn_Reaper Updated 

Morning All, Bitcoin has been following a channel since the drastic fall from $6480 and is now showing bullish divergence on the 4H RSI and if you look at the daily, RSI(14) is sitting at around 10-11 which is exceptionally oversold in this extended trend. MACD is starting to looking for a cross to the upside, StochRSI is oversold and price has just tested the...

Corn_Reaper Updated 

After failing to break up from an inverse head & shoulders as well as various wedges and triangles, it's safe to say that there won't be a terminal shakeout from these levels and the bears have the upper hand for now. Bitcoin fell out of market structure and wasn't able to rise back above the uptrend which we had been following since June so I believe we will now...

Corn_Reaper Updated 

Bitcoin has strong RSI bullish divergence on the 4H chart. RSI was at its lowest extended level since January 2015 on the daily and is still currently oversold on all time frames up to the 1D chart. MACD is looking bullish and expecting a cross to the upside. There should be a move up to the $6k resistance at 0.618 fib which has been a behemouth support level...

Corn_Reaper Updated 

Bitcoin fell to new lows as I'm sure everyone frantically knows and my previous trade was stopped out. In hindsight I should not have been using Bitfinex charts. The discrepancy between exchanges makes for inaccurate TA so I'll be sticking to Coinbase for my market direction until there's parity again. Not all bad news though, we may have had the capitulation we...

Corn_Reaper Updated 

Bitcoin dropped to the bottom of the falling wedge and experienced a strong bounce from $6160 support. Wait for break above wedge resistance to enter trade. StochRSI approaching oversold and price is fast approaching the wedge apex for a breakout before the end of November. Bitcoin has been garnering higher lows since June and has found strong support on the...

Corn_Reaper

Bitcoin has experienced 2 halving events since its inception in 2008, the first on 28 November 2012 and the most recent halving event on 9 July 2016, whereby mining rewards are reduced by 50%. Each one of these events has been preceded with a strong uptrend in the months leading up to the event and each of these events experienced a significant rally for the...

Corn_Reaper Updated 

Bitcoin (Bitfinex) found a little bit of momentum, forming higher lows and higher highs within an ascending channel on the 4H chart since 31 October. BTCUSD did fall out of the channel this morning and is currently within a small descending broadening wedge, however, StochRSI is oversold and RSI is fast approaching oversold on the 4H so I don't suspect a drop...

Corn_Reaper

Bitcoin BTCUSD (Bitstamp): Comparison between the 2014/2015 bear market and the bear market today to identify similarities and to plot a forecast for the months ahead leading up to the next halvening around May 2020 using Fibonacci retracement and significant levels of support and resistance within 2 main channels on the weekly chart. Both bear markets have...

Corn_Reaper Updated 

NASBTC looking good after a strong bounce from support of the bullish symmetrical triangle. There is a small chance that this formation is a bearish pennant continuation pattern, however, looking at the 1D chart, price has had a strong bounce from triangle support, StochRSI is oversold and MACD shows potential for an upwards crossover. There is also bullish...

Corn_Reaper

VeChain priming for breakout from a bullish falling wedge on the 1D chart. Price is right at the apex and there is bullish divergence on the 4 hour chart (see yellow arrows in pic below). RSI and stochastic are also oversold on the higher time frames. Using fibonnaci retracement, VET/BTC should first target 0.00000186 at 0.5 fib so maybe take a small partial...