i.imgur.com One has to have a ultrabullish bitcoin chart in their portfolio. Cover all bases they say.
Just something for myself to check on later. Btc has had some positive news regarding Segregated witness and Lighting network is said to be making progress good also. These two together, in my eyes, would end the need for current divide between the two communities in bitcoin. Can't forget the halving that is coming either! Not much thought has been put into TA in...
Indicators: - SMI is starting to bottom out and moving up. See the yellow circles. This is happening above negative area which is promising. - Fibonacci line of 50% has been broken from top to local bottom which is suggesting that next we will test the 61% fib at 0.03679 next. - Also on bigger Fibonacci setup from start of the rally to all time high, we almost...
If RSI fails to hold here this could get really ugly. Next ichimoku support is at 0.025071 currently and next would be top of the clould at 0.011923, but we do have 61% fib line at 0.015477 before that.
Making the chart again in ETH/XBT this time instead of ETH/EUR. We might be looking at a classic example of elliot wave theory. Interesting to see how this plays out.
61% and 50% lines touched and bounced off from nicely. We seem to have found ourselves in a downward channel though. If eth would be to break it we could see new highs of 16.3 e possibly if not just a double top.
261% extension perfectly touched. Expecting more downwards.
Some profit taking will perhaps take place here, maybe lines 50% and 61% will be tested like the previous correction.
Used some key fib lines for predicting possible turning points in ethereums rise. I'm a noob, so just a random scribbling still. Considering the very potential technology behind ethereum, I could see this thing going very high in the future. Holding might be the best option, or trading in high TF if you're not experienced for better gains. Why bullish?: -...
Just something to come back to in the future and have a cry or laughter.