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Bitcoin Action TimeSince the beginning of March, Bitcoin has formed a descending triangle pattern, where each new wave down becomes smaller and takes longer. Lets have a closer look; FIRST WAVE: Lasted 30 Days ≈ 45% Lost SECOND WAVE: Lasted 50 Days ≈ 40% Lost THIRD WAVE: Still ongoing - foretasted length is 70 Days ≈ 30% Lost The forecasted length has been calculated with the Fibonacci Time Zone indicator, applied through the high and low of the past two waves down. Cycle 3 and 8 indicate on the timeframe between the 2nd and 7th of October, which could be the end of the current cycle. If that is the case, some strong price action to be expected in the beginning of October 2018. Of course the outcome is not clear, and that is why it is important to watch the Bitcoin price during that period of time. Break above the 200 Moving Average could be an indication of the trend reversal, but break below the key support at $6k might result in a further decline towards $5-4k area.
BITFINEX:BTCUSD
by CryptoPAMM
1
Riple: XRPUSD Class emerges like cream risesXRPUSD Bitfinex Trading Ripple One Alt stands out amid the little bloodbath we see across all others, pretty much. And it's Ripple. Just cruising, man. The dog that didn't bark if you know your Sherlock Holmes. This gives us an almighty clue. No damn sellers. Even whilst others crumble, holders here stand firm. So any buying from here will create a squeeze on already unavailable 'stock' . So if you want to be long, this is still the one. Look to buy on any dips. Different Feeds Bitfinex feed is way more whippy than Kraken. Look how smooth Kraken was at the the spike low on Bitfinex here (left). We would havegot whipped out of any longs sensibly hung out at 0.6369 on Bitfinex - but although we'd have paid a higher price at Kraken (at 6776 at least) the lack of whipsaw would have held the trade and we'd still be long even now, compared to losing money by getting stopped out by the whipsaw on Bitfinex (and then seeing the bet go right 15 minutes later, the worst kind of loss for any trader to stomach, been there, got at least 100 T shirts too). Then, on the second decline after the spike on this chart, see how far back Ripple comes here comapred to Kraken...Bitfinex comes right back down to the low/entry point again, whereas on kraken it's smoother again, and the next low is a lot higher here. So if we want to go fishing at low values and can handle spikes lower then the best place to hang out the buy order is Bitfinex, with cheeky bids at double bottoms - they may get struck and they may not. But you'll never know without trying it at those points of maximum pressure across crypto markets.
KRAKEN:XRPUSDLong
by sumastardon
1
Hanging Man for ACTACT testing previous resistance, and this time it is coming on hardly any volume in relation to its daily average. The most recent decline had noticeable volume to go with it, and there seems to be nothing behind the ascent to keep price pushing any higher from here. With hanging man patterns - I look for a sell stop 1 penny below the low of the day and go for a straight 1 to 1 Risk/Reward given the high success rate but also realizing this is a counter trend trade. Stop loss 1 penny above the high of the day.
AShort
by JoeHayes