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Bitcoingold

BTGUSD $525? Elliot Wave AnalysisBullish Indicators: -Strong support at 61.8% retracement level, bouncing off twice with it being higher RSI on the second test with 29 RSI first touch and 36 RSI second touch -Solid entry point on stochastics; it is about to break the 20 level -Trading at the bottom of RSI and stochastic support -Bullish MACD divergence on 1h candles Price Target 525 Stop Loss 250 Descending triangle correction with ABCDE filled out - I drew it another way as well with only 3 ABC's completed, so it may have 2 more ABC waves ahead before move up I thought the correction looked like a flat at first but I decided against it considering it didn't retrace nearly as much as it should if it was one. Not only that, but the correction after wouldn't be a 5-wave. Please leave any feedback in the comments and PM me if you have any questions, I can't reply to comments due to recent moderation action
BLong
by gelnd
4
Bitcoin Cash - What if Today is the Day the Dragon is Slain?Bitcoin Cash has had a bit of a bullish run the last few days. That being said, we all know about possible Dragonslaying and Cashening scenarios. But, when are they? Where could they be? Many things are hard to decipher and hard to see. Bitcoin Legacy just had its difficulty adjustment. 18% up to a new all time high. There's a lot to talk about, more than I can talk about here. You can check out my Yours blog in my signature if you want a deep dive into the analysis of the situation today. Please keep in mind today's Yours is fundamental/situational analysis and not a trade structure. Regarding price action, Cash is actually doing pretty well considering all the Tethered mania around IOTA and Bitcoin Legacy. We are in a descending channel formed by the downtrend line from the previous $1720 double top and the recent two lows. Price action is starting to form a potential bottoming/reversal pattern, even though it's at the bottom of the Kumo. We still trade slightly below the 0.382 retracement, but considering the nature and origin of yesterday's price action, along with the $200 difference in trading value between Finex and Korea, you have to evaluate things within the context of the situation at hand. Willy21 shows very oversold on both averages and selling momentum appears to be tapering off. Bitcoin Legacy may be at a top after dropping $600 in an hour. So, how to trade? The reality is that long entries should happen on a breakout of the local downtrend line at $1560. You must wait for a 1H+ candle to close above this trendline as confirmation for a safe trade. This resistance must be broken through and it's also the densest volume profile area. What we're looking for is the $1600 mark to transform into a resistance-becomes-support situation. Fundamentally, you should not invest in coins because they're pumping. You should not invest in coins because of Cashening or Dragonslayer situations, either. You should invest in coins because of fundamentals, and the reality is that Bitcoin Cash has one of the strongest, brightest, and best organic and natural communities in all of crypto. Possibly the best and most legit natural community. What does this mean? This means that growth in your investment is not reliant on conspiracies or manipulation. Instead, it's reliant on achieving the organic, critical masss from merchant and human adoption. It's something spreading like wildfire, faster than most people can see. By the time they see the smoke, there will already be fire. When there's fire, Bitcoin Cash will never see a four digit number starting with "1" again. Regarding Bitmex holdings, Bitmex only has about 13,500 Bitcoin Cash in their holdings, as they weren't that big August 1. Xapo dumped nearly 100,000 yesterday. Bitmex has not moved their coins yet. What's curious about this is _why_, and I discuss that in my Yours article. Come and join the Bitcoin Cash Fund community chat and get involved chat.thebitcoincash.fund == Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party: (dafoh.org)
BLong
by RiversAndMountains
232
Bitcoin Cash - #3 in Market Cap and Volume for a ReasonIn light of recent TradingView censorship, the majority of this post will be on my Yours (in my signature). The post is more verbose and has some images that I can't post here anyways. There will also be an optional trade structure/plan for those interested, as we do have ourselves an opportunity for a long trade. Check out my Yours (in my signature) for the rest of the post. Follow me on Twitter (in my profile) as updates arise. The boys at Yours also recently integrated TradingView ideas, so show them some love and I'll have the post there up in about 5 minutes after publishing this. == Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party: (dafoh.org)
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by RiversAndMountains
49
Bitcoin Cash - Strong Hands and Long-Term Focus AdvisedIn light of TradingView locking pretty much all of my posts, the majority of what I say will go on my Yours blog, in my signature below. Content in the body of the TradingView post will remain sparse. Follow me there if you want to read more. Regardless of all the noise on Twitter and Reddit and Discords/Telegram/Slacks the last few days about "Bcash" this, and Roger Ver that, don't lose sight of what Bitcoin Cash is: a community-activated hard fork of Bitcoin to solve both the high transaction fees and slow confirmation times caused by the 1MB block cap and the infiltration and subversion of Bitcoin Legacy by Blockstream, who is entirely backed by a group of really nice guys like Axa and Mastercard et al. You know, a really similar group to the "big money" that's coming to Bitcoin Legacy that you're somehow supposed to benefit from, even though you're the source of profit on their winning trades. Give yourself an education on how Bitcoin Cash came to be, and make a decision for yourselves as to what you want to do with the future: www.reddit.com Right now, as far as BCH price action goes, there is nothing bullish to discuss. We trade at the support line of the Kumo on the 1H chart. Tenkan-Sen has crossed well under Kijun-Sen, and all oscillators are showing no signs of reversal. What does have some signs of good news is that we are in an immediate falling wedge pattern, which does often reverse at the bottom, break out, and lead to a new run. We are also inside of a larger ascending triangle, where upwards breakouts often happen, and towards big gains. That being said, we have no bullish indicators that this is going to happen, so we look for bounces and reversal patterns in the key $1400-$1420 zone. If we do not receive a bounce at this area, the next chance is $1320. Anything further than that on any sustained time scale will confirm a very bearish trend reversal. Bitcoin Cash is a coin that you should be holding based on your belief in the long-term fundamentals of the coin, where it came from, where it's going, and what its community is trying to achieve. If you don't believe in its fundamentals, sell now and move on to something else. == Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party: (dafoh.org)
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by RiversAndMountains
141
BTGUSD $488+ After Correction? Elliot Wave AnalysisPreface - don't enter long now, at the price of posting, this is a long idea at ~320-296 Why I think this: Short-term bearish indicators -Bearish RSI divergence on shorter candle lengths (blue line on RSI graph) -Bearish MACD divergence seen on longer candle lengths (4h for example) -RSI showing a lower low for each lower low, showing a likely continuation short-term (white line on RSI graph) -This is showing a likely at least a retest of the previous support at the 50% Fibonacci retracement. Longer-term bullish indicators -Super strong volume on breakout of consolidation phase -Strong RSI on longer candles lengths (again, seen on 4h) from high to high showing a continuation after correction which is also shown short-term on longer candles like 4h where low to low it's reaching lower RSI) Please leave any feedback/comments below. If I don't reply feel free to PM me (I have been having trouble responding to people in my comments for whatever reason)
BLong
by gelnd
1