As expected, our trendline held. We bounced: Trendline continues to hold support. A good sign. Bullish pendant pattern forming. Also bullish. Here's what I expect from Bitcoin according to our charts: 1) Break $2980 before Aug 1 and then come back down and bounce off it and up after. 2) Bounce around in here for a few more days before breaking up and...
Well, here is the confirmation that I personally have been waiting for. Bitcoin is now back into my Bullish GREEN Channel. This is where I go long again. Not only have we entered back into the sweet, sweet pastures of GREENland but several additional HUGE indicators help to confirm that this move should last and land us in our next target area of...
Bitcoin is on a tear! These bulls don't want to rest. There will not be many more chances while we consolidate slightly here to hop on this train for a mad ride up to $4000 plus. However, if we do rest in the next couple days, look to buy at any price between now (currently $3446) down to $3146 and in the next 3-6 days. Consolidation won't last longer than this....
As stated in my last post, the bulls just do not want to rest. Bitcoin is still in the hype driven stage of the gartner hype cycle: www.google.com This makes is hard to get in a good price. While many are claiming Bitcoin has reached target on their charts, or that Bitcoin is due for consolidation (which is true), or that Bitcoin bears should have entered their...
It is definitely harder to predict price patterns on these brand new coins, but Ima give it a try. Here we see Fib from low to high. You'll also see some trendlines that have started to form and support levels I've drawn. So, let's make heads and tails of this. Fib. is self-explanatory. I've drawn it from around the low to around the high of this coin. First...
The move up happened as anticipated hours after my last post on Litecoin. We recently hit $50 resistance and ran out of steam. You could've sold there if you were watching or had your trade triggers placed. We have and are now consolidating a bit and will continue to follow BTC before pushing higher. Over the next day or two I expect more sideways movement and...
In the last post, about a week ago, I indicated that Litecoin appeared to be coiling. This is a contracting pattern that occurs prior to a big move. It can also be referred to as a symmetrical triangle pattern. Further indications include a contracting Bollinger Band and decreasing volume. I was not sure then which way we'd move, just like I am not sure now...
Litecoin remains in our bullish channel. However, it continues to sink lower and lower towards the bottom. We've managed to break below our middle Bollinger Band and our 50 MA. As we near the bottom of our Bollinger range, we are also approaching a $38 support level. Since the $38 support and the bottom Bollinger intersect at this point, if we travel down here in...
I just want to take a quick minute to remind everyone that the previous trendline for which I drew the bottom of our bullish channel (GREEN) still remains significant despite the fact that it was already broken three times (down on the 10th, up on the 20th, and down again on the 25th). That being said, I am not saying that we'll enter back into the channel...
The market decided that they were not comfortable with the price we were at yesterday. If you follow my post, you'll remember how often I talk about the bottom trendline of my GREEN channel. It is significant. Still is. Once we entered back into the channel, I bought BTCUSD again. I updated my trailing stops often to follow the bottom of my GREEN channel...
This chart's pretty easy. After falling through our $50 support and then through an even stronger $46ish support we went all the way down to the bottom of our Bollinger Band. Bounced there. Made it back over our 50 MA and then used that as a resting place for about a week. This then helped lift us through an intersecting middle Bollinger Band and $46 resistance....
We currently rest at our $2670 support which intersects with the bottom of our channel. Could we see a weekend bounce to $2980? I think this is a good possibility. We shall soon find out. Happy trading!
BIP 91 looks to be locked-in now. As hypothesized in my last post, this has given us enough boost to push our way through some MAJOR resistance points. Bitcoin's behavior here is extremely bullish! At the time of this writing, BTC is currently wrestling with resistance at $2599. Once through, it's on up to $2670 or the bottom of our bullish GREEN channel,...
As I analyze my chart and concur chart signs with price, time, and news, I must conclude that Bitcoin has the most probable chance to break out and UP by Sunday. Here's my case: 1) BIP 91 lock-in. We got 80.5% this morning. See www.xbt.eu 2) Two more days until activation. This puts us at Friday. Markets move to the far East around this timeframe. 3) Symmetrical...
In my last post, I completely overlooked the news of BIP 91. Therefore, my short call became null and void. Being away from my desk for almost a week caused me to miss this important news. As of this morning, BIP 91 was signaled by 66% of the miners. This is huge. Only 80% is needed and if locked in, will help prevent a fork. Only 14% more support is needed to...
I am not a short term trader, but I do see an excellent shorting opportunity here for Bitcoin traders. Our previous support (upward sloping red trendline) has come back into play. What was once support will now act as resistance. And in this kind of uncertainty, right here ($2150) is an excellent opportunity for short term traders to sell Bitcoin! Target back down...
Rookie mistake folks. I jumped the gun. In fact, if you read my last few posts, you'll observe that I had this suspicion. I was too impulsive with my Litecoin buy and bought all in at $50. I should have exercised sound discipline as all good traders do and simply started my buy in at this price point. If I would have dollar cost averaged in from there to where we...
A few things I'd like to point out on this messy chart: ----- First, I started my Fib retracement at a different date on this chart. Most, will start at Mar. 25th. That's fine. However, I chose to start mine at $1111 for several reasons: 1) $1111 is around the avg. price point on the daily for the few months leading up to our big pop in price. 2) When starting...
