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BITCOIN 10K ON OCTOBER 9Bitcoin has proven once again its highly repetitive nature. Whilst many people have called for the death of Bitcoin over the past few years, it has simply done what it always does and that is repeat. Many people have missed this by not looking at the bigger picture. Bitcoin has just played out over the past 3 years and is continuing to play out what happened during 2013 only on a larger time frame and has already begun the launch higher. Most importantly this coincides with the infamous Bitcoin 235 day cycle. This cycle was derived from the early days of bitcoin trading where each of the first four major tops from all time highs fell exactly 235 days apart. Since the bear market that began in 2014 the 235 day cycle could no longer coincide with new all time high tops but instead continued to top with bull runs that happened in the lead up and to this day has yet to be proven wrong. The next 235 day cycle tops on October 9. Expect chaos on the way up. Expect candles over $1000 from high to low. Expect inexperienced traders to be wiped out along the way. There is no safe entry price or safe stop loss only a target of $10k on October 9. Bookmark this chart.
MLong
by STIADAYSOFPAST
23
Bitcoin uptrend might be about to end.The market seems to be experiencing a flood of new investors mostly "Get rich fast" kind of people. I think we are about to begin a downtrend or at least sideways trend for the upcoming months, Set to begin in 2017, August. Toping around 2000$ in the end of march. If this goes above 2100, then we have fib extensions at 2565$ and 2923 for possible tops. Shorting bitcoin with all this irrational buying is dangerous, but if you must then stop loss should be put around 2020-2040$. Above this price with much force will invalidate the short intended here.. Any questions or inquiry please comment below. Be safe.
BITSTAMP:BTCUSDShort
by lomaxrex
2
BTCUSD Short-Term Update: More Downside AheadIn my last post I anticipated the test of 1820-30 area to clarify short-term wave count. The price didn't reach 1820, putting a top @1815. As far as trading is concerned, I suggested going short on the brake of the pitchfork (you can see the label on this chart). This strategy worked well, as price slid from 1760 to 1682, where it found support @62% Fib. The chart is becoming increasingly bearish, and the wave count suggests more downside pressure to mount.
BITSTAMP:BTCUSD
by Nickonomics
BTCUSD Short-Term Update: Ambiguous Wave StructureUnfortunately, my last post was blocked due to ads rules. It called for more upside above 1800 based on impulsive nature of the advance from 1601 to 1747. At this moment the price is likely to test 1830 level, and this area may be very important because its test could determine whether the market makes new all-time high or not. The difficulty is that we can't be certain whether the decline from 1892 to 1601 is a motive wave (setting new trend down) or a Double Zigzag Wave (4) of higher degree, which means absolute highs are yet to be set. The daily chart looks like this: Bottom line: We need to see the test of 1820-30 area to clarify short-term wave count. All important price levels are drawn on the chart.
BITSTAMP:BTCUSD
by Nickonomics
1
BTCUSD: Main Trend UpdateMy last update contained a short-term Triangle pattern setup with target area 1670-1689. The strategy I suggested was going long just above Wave D of Triangle with a stop-loss near Wave E bottom. Everything went quite smoothly with prices breaking to $1720-s highs. Now it's time to switch to a longer-term chart and assess the trend pattern. According to my wave model, the price is still in Wave 3. Fibo ratios and no divergence RSI pattern support this idea. There are 2 resistance areas where this wave could end. Intraday chart looks like this: __ Video update: goo.gl (Russian)
BITSTAMP:BTCUSD
by Nickonomics
2
BTC WEEKLY CHART: "The Panic Zone" We've been HoodWinkelvossedIn the event you are unaware: www.theverge.com How much havoc can a pair of twins create in their lifetime? First they unleashed Zuckerberg on the world, got pissy about it, and now this. Then there is the SEC trying to protect us from ourselves. What right do they have to even pass judgement? The answers lay somewhere in the "Panic Zone". (channelling Rod Serling). Serious trend break. I warned you all a week ago. Then I warned you again. This market funk is not over. There will be a pull back to the secondary trend and then a test of that too. We might get all the way down to $800 where the major 2 year trend is. Meanwhile expect a lot of yo-yo bouncing. This is good stuff. We need a pull back handle to form on that giant cup formation. Kind of like compacting a coiled spring. The target launch for the Bitcoin hyper breakout, THE COSMIC EVENT, is now established. A breakout above $1340 is the launch point. The SEC and the PBoC are not capable of stopping this. I have talked about "when" in previous releases of "The Panic Zone". I haven't talked about the Bitcoin market PANIC ZONE in quite a while. It starts at the $560. I've noted this on the chart but you probably thought it was my trademark. It's the zone where all the Adrenalin/Testosterone infested 15 year olds can't take the pain anymore and throw in the towel to create a capitulation bottom. A break through the first layer, $475 to $560, ignites the PANIC and the bottom target becomes $330. We're a great distance from this but I though I would just point it out to be thorough. The last capitulation bottom was at $130 from a $1200 top. Who says it can't happen again. I'm keeping my gunpowder dry. Probably will use some of it at $900 and a lot more of it at $800.
BITFINEX:BTCUSDShort
by investigator
2
Can a Wolfe Wave Topple The Almighty Bitcoin? Of Course It Can.Hello Traders, If you followed my previous Bitcoin Chart you saw the two high probability targets get hit. Just as the model is able to provide price targets, it is also able to tell us where it will go after the bull run is over. The main indicator of a move down is the Wolfe Wave highlighted in this chart. Combining this with the proprietary forecasting model, I am able to provide you with the following scenario: 1010.07, 930.34, 812.99, and 750.94 all remain high probability targets. What happens from there will determine the bottom half of this chart. If price breaks the key support level of 750.94 look for the gray dashed lines to act as levels of support. My ultimate bearish target for Bitcoin is 231.81. If you are not familiar with the Wolfe Wave, I highly recommend visiting wolfewave.com to have a fundamental understanding of the pattern. I will also provide an educational post highlighting the rules of a Wolfe Wave...soon. Feel free to comment, like, and share this idea. If you have a chart that tells a different story, please feel free to share with a chart. Best, Chartistry
BITSTAMP:BTCUSDShort
by GWaves
16
BTC WEEKLY CHART: "The Panic Zone" All that glitters is not goldNew all time highs and gold parity. I want to give my hottie a new BTC chain necklace so I went to the local artisan. They said wat? The best that I could do was pay for a new gold chain in BTC. So is BTC as good as gold? I wanted to get this latest version of the weekly chart out on display to make some comments. There is no evidence to suggest this rally, now 7 weeks old, will last. There is no volume. The angle is too vertical. It could be the result of panic in EU land. I pointed out some reasons in previous comments. It doesn't appear to be solidly China related. I invite comment. There are actually 3 rallies going on simultaneously. I have marked each. The fundamental over 2 year rally marked with the solid red trend line. The 20 week rally marked with a dotted red trend line and the current 7 week rally marked with a dotted red trend line. None are showing a break in the trend. A break in the 7 week trend will be a dramatic event. Price could pull back 25% to the 20 week trend line. When? Soon, maybe. Be cautious. Take down some profit for a rainy day and enjoy the ride.
BITFINEX:BTCUSD
by investigator
7