In the words of Alan Greenspan, you know the rumpled old geezer that speaks in rhymes, said something about irrational exuberance in the markets, I will invoke those same words. BEWARE OF IRRATIONAL EXUBERANCE in the bitcoin market. What's causing this straight up spike in price? The China devaluation of the Yuan, the India currency confiscation, and here's a...
Man, What a year :D I love it when we have to chart bitcoin in monthly. Market is currently overbought however in trending market one does not look at oscillators, but until crossing and holding above previous ATH we are still in range. I don't see any divergence in MACD and price so far and that's a good sign for continuation of the current uptrend :) Happy New Year.
Interesting to look at the market conditions in terms of established alt coins and Ethereum. It's no surprise that Ethereum is heavily weighted in the crypto-markets and has had an impact on mostly all coins that share an exchange with it. When Ethereum was added to BTC-e it was introduced into a small, select group of well established alt coins such as LTC,...
We are seeing a bit of bullish momentum in LTC today. Right now the weekly StochRSI is at the floor, the weekly BBs are tight, and price is coiled nicely at the tip of a triangle. Combine this with a Supermoon, and we could have a big move in store (If you believe in that kind stuff). Since I am inherently bullish by nature, I am long. In any case, regardless of...
Go back and read my previous published idea. I pointed out there is a huge difference between the Chinese Yuan/BTC chart and the BTCUSD chart. I thought I should show you the difference and speculate where this will end. First the previous devaluation the volume was very small relative to what's going on this time around. That's because the Chinese insiders...
Just an observation.
Plenty of trend line support has taken hold. A big cat moved in on Bitfinex today and pounced on some cheap coin. This is the first positive movement since the hack. It all started when Bitfinex turned on the green light to use BFX tokens as collateral for margin trades. Both BFX value went up as BTC got a boost. The time line is heading for a nodal point...
Describe what you think and why.
I'm not convinced that BTCUSD has finished shaking everyone out before it continues trend, it may not dip so low but I think it will dip below 540. Same goes for LTCUSD but 3.335 would be a hard stop for the litecoin. With LTCUSD retaining its value and BTCUSD losing more value, LTCBTC pair will likely return to mean approximately the same price it was before...
In the event you were infatuated by BREXIT the big news was the opportunistic Chinese took the opportunity to devalue the Yuan on the same day. Under intense journalistic distraction, no one accused the Chinese of currency manipulation. This event makes it extremely clear that BTC can be used to foretell big FOREX moves. It foretold the giant Rand devaluation...
Bitcoin has formed a large Cup with handle. To complete the shape, it is necessary to reach a level of 464. Level 464 is equal to 50% of the height of the Cup.
Idea 1 Inverted Head and Shoulders breaks up and fully retraces the dump invalidating the downtrend movement showing strength. Idea 2 Inverted Head and Shoulders breaks down continuing downward pressure and finding support ~3800+ and continues uptrend. Idea 3 Inverted Head and Shoulders breaks down continuing downward pressure, finds support ~3800 and...
I'll go out on a limb here and predict that Bitcoin may break above $800 within 48 hours, then hover around that area for the next 30-45 days. Alternately, I think we may break above $800, then fall back to the $660 area and hover there for the next couple weeks before we proceed to launch and seeing a new ATH of $1800 by Aug 1st 2016. #ALL-IN-FTW