DeWit

DeWit

Bitcoin is sitting on critical support. 1) There is bearish divergence on the daily chart and on the 4hr chart RSI. 2) On balance volume confirming bullish top is reached. 3) MACD slowing turning bearish also. My prediction = after sitting on support, Bitcoin will break downwards. Buy in levels based on Fibonacci but wait for confirmation. Prices could go as...

DeWit Updated 

Ethereum is consolidating nicely in a symmetric triangle. The triangle is confirmed by the RSI indicator. Break-out will happen in about 1.5 months. So there is enough time to buy a lot more ethereum before all skyrockets. Short term: Short - retrace about to commence with the retrace of bitcoin (and stock markets). Buy in at: 0.022 Long term: try to buy as...

DeWit

Addendum to previous post - Having more information now, it is starting to look like a triangle zigzag pattern, which usually defines a fourth elliott wave! The target of 15.4k per bitcoin thus still holds, but we have to wait a little longer. -We have started our 3rd abc wave downward -Triangle pattern confirmed by the RSI momentum

DeWit

After a schoolbook ABC correction: -Retracement up unto 0.382 fibonacci level -B wave being 50% of A wave -C wave being 123.6% A wave -CCI touching upon -100 Our final excess wave will touch upon 15.4k . This will will cause a diverging momentum (looking at RSI). Will give an update once this happens. Buy in: 9.8k Sell Target = 13.9k -- 16.2k Stop loss =...

DeWit

Ethereum is condolidating nicely and about to break its zigzag upwards. Next target: 0.043.

DeWit

Looking at our buy in range, we just missed the bottom! It went lower than anticipated, but finding the true bottom is something you shouldnt worry about. Looking at what the new year could bring us, we see 5k targets. We now had a perfect first 5-wave Elliott impulse wave, following fibonacci's levels to the decimel. An ABC correction wave (in which we reside...

DeWit

First looking at the context on the weekly chart, RSI shows Bitcoin to be oversold, comparable to the momentum seen at the end of the 2015 crash. Looking at the daily chart it gets even worse, no other time in history was bitcoin more oversold than it is today. Where does that leaves us now? Bitcoin has been ranging for the last couple of months before breaking...

DeWit

All indicators point towards an upcoming decline in the bitcoin price. -Price reached resistance levels. -RSI shows price divergence. -OBV shows volume flowing out of Bitcoin whilst the prices are still increasing. -MACD is neutral.

DeWit Updated 

Verge is exploding once more. The cause is an announcement to be made on April 17th. The golden rule of announcements calls: Buy the rumour, sell the news. Technical indicators on the 4 hour chart: - Bullish MACD - Bullish OBV, confirming buying volume - Overbought RSI I am showing the 30 minute chart because Verge is now consolidating in a perfect triangular...

DeWit Updated 

Tron is gaining traction again! After being dead for almost 2.5 months, TRX is attracting the bulls. Indicators: - It broke the red downward trend. - MACD is turning bullish. - RSI reached its low and is now showing bulls buying from the weaker hands. - OBV is showing the upward movement is accompanied with buying volume! All in all, TRX is looking good. Since I...

DeWit

Updated Wavecount. Since my previous wavecount for bitcoin was incorrect, I present an updated wavecount. Using Elliott wave theory is very subjective. Making mistakes is not the issue, everyone does. The most important aspect in trading is that you correct yourself and learn from your mistakes. Bitcoin seems to have entered its third wave down. Resistance is...

DeWit Updated 

Based on Elliott and Fibonacci only. A quick update on bitcoin's price prediction. Last post I mentioned wave 3 would go towards 6300$. This has not happened. Wave 3 was slow and only reached the 1.236 Fibonacci extension of wave 1. We are currently in correction wave 4, which could go as high as 8500$. Wave 5 is expected to bring BTC's price down to at least...

DeWit Updated 

Giving you an update to our previous bitcoin price prediction, in which we discussed how bitcoin might be entering its fifth ((5) time scale) and final momentum wave down. Looking at the bitcoin price right now, it seems to be that the correction wave 2 has ended, showing us a beautiful zigzag pattern ((a)(b)(c)). Even though timing might be off, the prediction...

DeWit

Bitcoin seems to be in its final and fifth wave down. Since this is no longer a correction, but a bearish downwards momentum, the fifth wave of the Elliott wave principle in combination with fibonacci, dictate that the bitcoin price could go as low as 3k. -At this point, the RSI is oversold, a retracement will happen in the upcoming days (also based on...

DeWit Updated 

Possible pump and dump incoming. Heavy increase of volume in the ZClassic coin. The coin died after its fork two weeks ago. This smells like the beginning of huge pump and dump. RSI shows us that the coin is desperate for a retracement, let's wait for it and try to profit from this rapid increase. (Price already pumped 125%!, Pump could already be over, so lets...

DeWit

Bitcoin just recently broke the downward resistance channel and many are now calling for bitcoin to go to its next all time high! To me, the charts are telling a different story. -Breaking of the resistance trend line has to be one of the weakest moves I have ever seen, pure market manipulation at its finest. -We have an ascending wedge, accompanied with a...

DeWit Updated 

Bitcoin just broke 2 main support lines and is heading towards the 8.5k! MACD and RSI both show room for further price decline. However, the day is still long, if the price can close above 10.6k, we might have a chance of reaching 14k after all. However, at the moment it is looking very bearish.

DeWit Updated 

I have been looking at this coin for quite some time now. It is known to be the Ethereum of China and has been growing steadily for the past few weeks. RSI = Looking at the RSI, one can see that the coin is close to being oversold. It has passed levels of previous retracements. MACD = The MACD is showing how the retracement is slowely coming to an end, already...