BTCEUR
Newb prediction: €60k Euros ATH within two weeks.Is there a trend in the correction? During the two previous events where BTC hovered at a support level, both events lasted approximately 7 days and then BTC took off for another run, if there is a pattern we may see one more day with BTC struggling to get past the resistance level of €50k euros but by the 23rd March with luck BTC may return to recent velocity and potentially hitting a new world breaking ATH of €60k euros before mid April.
Supports for the next big BTC correctionSo last few days dropping down could be seen as test where the support line would be, so that about 45000euro and did not fall down further and next big dip would also not fall beyond that. The timing of the next dip really depends how fast we are going to hit that red line, but most 25 days upwards trend happened for the last two dips, most likely this time would be the same and see the start of the dip happening on March 25th and lowest it could drop be 45000euro which is around 54370usd.
Elliot Waves Complete Guide | Chapter 3.4 - "Barrier/Expanded"Hello Traders. Welcome to Chapter 3.4, where we talk further about two more different types of triangles - the Barrier and Expanded triangle. In the previous chapter we talked about the running flat and contracting triangle, but for these two, they are essentially the same but different overall shape! Most importantly, these are very common patterns within the realm of technical analysis and these textbook patterns also have Elliot Wave patterns within these common patterns. So, as you can see, if you can memorize the simple patterns, then you can start applying more advanced theories on top of them!
Chapter 3 Glossary:
3.1 Zig-Zag Waves
3.2 Flat Correction , Expanded Flat
3.3 Running Flat, Contracting Triangle
3.4 Barrier Triangle, Expanded Triangle
3.5 Double-Three
3.6 Triple-Three
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Barrier Triangle
The only difference from the contracting triangle is that the line BD or ACE is horizontal. This is actually a very common pattern we see used daily by traders - the "ascending triangle". The other one goes towards a horizontal line, so a Barrier Triangle is a variation of the contracting pattern. A barrier triangle has the same characteristics as a contracting triangle except that waves B and D end at essentially the same level.
Expanded Triangle
Most rules are the same as for contracting triangles, with these minor differences (make sure to memorize these as well!):
- Waves C, D, and E each move beyond the end of the previous same-directional subwave (the result is that going forward in time, a line connecting the ends of waves B and D diverges from a line connecting the ends of waves A and C.)
In the next chapter we will be going over the double three, and finally the triple three as a conclusion to chapter 3.
Make sure to read review all of my previous chapters. It will start to get more advanced!
BITCOIN FAKE OUT DOUBLE TOP!This looks like we might have our weekly double top fake out.
Volume decreasing as price moves higher.
Historical analogue points to bear market.
Price has gone parabolic, parabolic moves NEVER last.
If we keep breaking lower the area to buy back in is 15-20k range where a weekly inverse head and shoulders should form.
BTCUSDT Updatethe yellow line, is a support line for bitcoin which can let bitcoin to go higher, if it doesn't support bitcoin from here, we can expect to see a fall to the green support line.
BTC could reach €50,000 Euros as predicted in the next 48 hours.Just a quick followup on a previous chart which shows velocity has stayed constant since the recent dip and €50k is incoming. Support line is getting squeezed BTC about to break this.
BTC IN CUP AND HANDLE AND ASCENDING TRIANGLEbtc is potentially in a cup and handle and therefore in a ascending triangle too with a target of 61k euros
BITCOIN DOUBLE TOP (WARNING)Bitcoin is rallying on low volume, extremely low volume in fact. This is a clear divergence between price and what is actually going on.
Like I said previously I believe we will see 15K this year.
Yes we can create a fakeout of the highs, yes we can remain at these high levels for the rest of the month but at some point when price starts to turn and everyone starts to run for the door price will crash fairly quickly.
Human nature does not change Ninjas!
The way is up! No bearish signals so far.BTC/EUR looks bullish. Nice cloud forming as we speak and BTC found its support besides the great growth today. I expect BTC to hit 58K USD very soon and will analyze the next support line then.
Something big about to happen?Really simple.
Exit point at 52k USD and breakout.
US Senate just approved last Saturday a package of 1,9Trillion dollars. Happened just like expected and previously commented.
www.bloomberg.com
So a lot of money will start circulating...
Bounce or crashAt 40800 - 40500 we either get a bounce and that be last time we will see this low prices or it crashes down.
If it dips under it we can expect a crashing more over several days to hit its correction.
BTCEUR - short term prediction - Weekly updateBTC stays bullish and confirm my prediction of last week. We are seeing higher highs and higher lows to signify a growth in the price even if not at the fast pace at which BTC have made us accustomed to in the last months. This almost sideways trading is good to create a strong support level in the range 41 to 43 thousands. the next resistance appear to be around 44/45K but should be easily achievable if the sell off have really stopped as it seems. overall the upward trend is continuing and we will see soon BTC at 50K EUR.
BITCOIN - HEAD AND SHOULDER PATTERNBITCOIN is seeing a very bearish pattern playing out - HEAD AND SHOULDERS! This pattern is shared with many other altcoins, alongside bitcoin forming a head and shoulder pattern on the 4-hour chart the overall market direction is pointing downward!
I believe we will see downward movement for the remainder of the month before we head back up nearing the later half of the month - could be a great opportunity to load up on some cheaper coins!
As always let me know your thoughts
''Buy Big Sell BIGGER'' - MegaWhale
BTC - IF IT FOLLOWS 2017 BTC - IF IT FOLLOWS 2017
- Somehow all the support and resistance lines match!!!!!! This cannot be a coincidance
Let me know what you think
''Buy Big Sell BIGGER'' - MegaWhale
BTC - CLASSIC BULLISH PENNANT FORMATIONPennant formation possible - to confirm this we need a bounce on the lower trend support line and $45,000, we can then expect a move upward to the top channel resistance located at 65k in the next week.
I always say this - but zoom out!!! If you want to find the movements over daily periods you need to look at larger time Frame charts!
Bitcoin is still bullish!! Unless we break below $45,000
''Buy Big Sell BIGGER'' - MegaWhale
Updated prediction after recent correction. BTC still bullish As we see with each drop, some bad news started with Elon Must saying the price of BTC and ETH was too high. On the next day both the BBC and Bill Gates said on separation occasions that they were anti BTC due to environmental issues. Yet more and more banks diving in with now Citi Group suggesting BTC could become the future global currency, with luck we move to the next ATH within the next two weeks.
BITCOIN DIVERGENCE POINTS TO BEAR MARKETAnother observation happening on the weekly right now. Price is rallying on fumes (low volume), unless some high volume comes in soon this could get nasty.
Like I previously mentioned weekly double top or weekly fakeout double top are still possible and is what we want to see.
Target is 15k-20k where we will create a weekly inverse head and shoulders pattern before breaking higher to around 400k.
Pi cycle indicator closing in on cross?The pi cycle indicator crossing has correctly predicted the last three BTC tops within 3 days of those tops. At the beginning of Jan, the two indicator lines (green, gold) were $6.7k apart, on Feb 1 they were $4.5k apart, and now they are only $2.08k apart, as can be seen in the graph. Fortunately, they have begun to move more in parallel due to BTC's recent drop. However, a steep rise in BTC price (like tonight) would cause the lines to re-accelerate this gap closing at the prior pace of roughly $80/day. This rate would cause a crossing in roughly 25 days and a potential top in 28 days. I'm very long and watching this indicator closely because it's been so dam accurate in the past.
