BitcoinLong
BTC - I brought you the juice, now here is your bagel
Updated
Good afternoon all,
On my previous chart I accurately predicted the top at the .618-.65 level and sold at these levels.
I have re-bought in at $9,025, and I'm expecting range trading and consolidation over the next couple of days.
Key Notes:
1) We need to start trading above the 0.5 of the latest bearish impulse, this needs to happen within the next 24 hours if we are to maintain bullish momentum. If I am correct, we will establish a range zone between the 0.5 and the .618 going into the weekend.
2) We have an upcoming 20 EMA daily crossing of the 50, this is significant, the last time this crossing was close, it was rejected and we double topped and went back into a double bottom.
3) If this crossing is rejected again, I anticipate that is a false breakout, we will tumble back into the triangle / trendline, and we will most likely see new lows.
4) I'd like to see RSI catch support on what was previously resistance for 62 days.
Timeframe:
1) I anticipate a range bound market going into the weekend.
2) I expect a bullish break of the .65 this Friday(less likely), or Monday(more likely), with the ultimate target of $11,700.
Bullish Targets:
1) $9853 0.65 fib, needs to break
2) Next target after would take us to $11,700
Bearish Targets:
1) If we have rejection of the daily 20-50 EMA crossing, I would anticipate (at the very least) a re-test of the downtrend line in the $7800 range.
*It's important to note that, if we have rejection, this was a false breakout, and we will more than likely see new lows for bitcoin over the coming month.*
As always, if this chart receives 15 likes, I will continue to update it. Additionally, if you find my informational useful, please support me by hitting the follow button.
On my previous chart I accurately predicted the top at the .618-.65 level and sold at these levels.
I have re-bought in at $9,025, and I'm expecting range trading and consolidation over the next couple of days.
Key Notes:
1) We need to start trading above the 0.5 of the latest bearish impulse, this needs to happen within the next 24 hours if we are to maintain bullish momentum. If I am correct, we will establish a range zone between the 0.5 and the .618 going into the weekend.
2) We have an upcoming 20 EMA daily crossing of the 50, this is significant, the last time this crossing was close, it was rejected and we double topped and went back into a double bottom.
3) If this crossing is rejected again, I anticipate that is a false breakout, we will tumble back into the triangle / trendline, and we will most likely see new lows.
4) I'd like to see RSI catch support on what was previously resistance for 62 days.
Timeframe:
1) I anticipate a range bound market going into the weekend.
2) I expect a bullish break of the .65 this Friday(less likely), or Monday(more likely), with the ultimate target of $11,700.
Bullish Targets:
1) $9853 0.65 fib, needs to break
2) Next target after would take us to $11,700
Bearish Targets:
1) If we have rejection of the daily 20-50 EMA crossing, I would anticipate (at the very least) a re-test of the downtrend line in the $7800 range.
*It's important to note that, if we have rejection, this was a false breakout, and we will more than likely see new lows for bitcoin over the coming month.*
As always, if this chart receives 15 likes, I will continue to update it. Additionally, if you find my informational useful, please support me by hitting the follow button.
Note
Closed my position for few hundred dollar profit @ 9140. Looking to see how 9k holds / daily candle close.Note
We doubled bottom on the RSI, and caught support at the 50 EMA on the 4hour. In this process we have also printed a bear flag, I would bet that the next 6 hours will determine the future of BTC for at least the next month.If we flag down, the target is 7800, this would then cause a 20-50 EMA crossing rejection, which would cascade into a sell off, and most likely a false breakout.
If the RSI double bottom holds true, and 4 hr 50 EMA support holds, then we should look to trade back up into the 9s' by the daily candle close.
Note
As anticipated, we've made it back into the 9s, we need to now range above the 0.5 and consolidate for a second launch at the .65.Let's see if we can stay up here and keep it going. So far, it's behaving as expected.
Note
Streaming live answering all your questions for a bit @ twitch.tv/cryptocrewNote
BTC is acting as expected, we're in a range bound market, and my target for a .65 test / break for Monday looks to be on track.Streaming live @ twitch.tv/cryptocrew and answering all your technical / forex related questions.
Note
I've sold my positions in NEO (slight 2.20% profit), consolidated into BTC, and then sold into USD/T, we have bearish divergence on the hourly.Interestingly enough, the VFI does not show divergence, so it will be interesting to see how this plays out.
Ultimately, with it struggling at the 0.65, and the bearish divergence, I decided to take profits from my buys @ $8900. I will monitor where to re-buy, or, ultimately, it came down to the 0.65 fib resistance and the bearish divergence, verse the VFI indicator.
Currently streaming live answering any and all questions @ twitch.tv/cryptocrew
Note
Currently streaming live going over what's going to happen with BTC today @ twitch.tv/cryptocrewNote
Good morning everyone,Sorry I did not update sooner, I wanted to see this develop.
My timeframe of $9853 with the run beginning last night did not work out, we had the large move as anticipated, but it was a downward move (obviously).
Bearish Key Notes:
1) On the daily Chart the 20 EMA still has the potential to cross the 200, this will act as rocket fuel and propel the asset upwards; conversely, if it rejects, it will propel it downwards.
2) We formed a sort of 'crappy' looking bear flag, I'd take it with a grain of salt, however, we challenged the 0.65 of the latest *bullish* impulse, and the optimal buy zone(green box), and failed, this is a very bearish development.
3) RSI rejected going bullish yesterday, which caused this sell off (as a large move had to happen yesterday one way or the other).
Bullish Key Notes:
1) RSI is trending upwards, I've marked the path with an arrow, pay close attention to this detail if your in the market.
2) We are at a reversal zone, if this asset drifts lower, bulls can still turn it around; however, I warn that we must not go much lower than $8600 or face a chain reaction of potential powerful rejections which will cause a further selloff.
3) We appear to have a bearish crossover rejection on the hourly MACD
Overall position:
I am currently in - and long - however whether I remain in the market will determine on the market actions today. If I see another rejection of the 0.65, I will exit the market. There needs to be a sharp upwards retrace, if the bulls intent on keeping a run going, I do not feel that we can continue trading in this zone any longer, and we must exit it one way or the other.
Note
Just an FYI, I have exited roughly half of my position at a roughly 100 dollar loss total. I'll let the other half rideand see if the bounce is legit.Note
I exited the remaining half of my position at 9081 at a slight profit.We're currently about to retrace on the RSI, and we're at the top of the resistance channel, will let the market decide where it's going.
Total loss on the trade roughly 0.40%
Once it develops I'll look into re-buying, for now, I want to see of the 8972-9000 level will hold, and if so I shall re-buy in.
Note
Additionally, streaming live @ twitch.tv/cryptocrew discussing btcNote
This is still a no trade and I'm on the sidelines, we're currently sitting at resistance on RSI, bearish crossover on daily, and wedged into a triangle on 4 hour.Buy zones:
Conservative:
9450 with high volume break up
8625
Aggressive:
Triangle break @ 9250 with volume
8980-9022
Note
We had our high volume break at 9450, grats on those who could enter, myself I could not today as I was working, be mindful to take profits here if we continue to stall at the .618 as if we do, it would be a double top and a long ways down.Note
Lots of divergences, stalled at .65, might be a re-trace day, bullish momentum will be maintained if 9350-9500 can hold.Currently no trade for me, will be up early in the AM to evaluate at that point.
Note
Still no trade until:A) Bullish break of .65 @ 9853 - Targetting $10200 minimum
B) Retrace into lower zones
Trade closed manually
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