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The Opportunity Trough of BitcoinBitcoin has seen much more FUD and sell side action than I have anticipated. The news of Twitter, Facebook, and Google banning cryptocurrency related ads has many investors worried about bitcoins future as a global currency. Yes, social media sites banning cryptocurrency advertisements is bad for the industry, but the ad block does not affect bitcoins fundamental values. If anything, the fundamentals of bitcoin have improved. The blockchain is not clogged, transactions are faster, and the lightning network is on its way. When markets are down, ignore the FUD and focus on the fundamentals. As we wait, anticipating a Bitcoin ETF or Future, bitcoin is at a huge discount, or what I like to call the opportunity trough. I doubt that bitcoin will pass the 0.236 fib level. There is too much hype around the industry compared to last year. As the stock market corrects (which it most likely will, read my Medium article on it) the money in the stock market will need to go somewhere, if an ETF is put in place I think a good portion of the funds will be put into Bitcoin. Lets see if im right or not! Thanks, Colm
BITFINEX:BTCUSDLong
by CryptoColm
BTC's fifth Elliott wave countI tried to count potential Elliott waves up to the final price range that according to this variation should be in the 2800-3200 $ zone. According to the count and fibonacci levels, we could see 6300-6700 zone as target no. 1, 4850-5050 zone as target no. 2 and, of course, 2800-3200 as the final target. It might take months to wrap up the slowest fifth wave, but this is just an exercise in analyzing bear market development. There is another option, that with yesterday's dip we've finished first wave of the new bull cycle. It's really mixed signal territory at the moment.
BITFINEX:BTCUSDShort
by OrionInTheSky
2
[BTC/USD] WATCH OUT FOR $7,900 DIP!! + & LONG TERM ANALYSIS!Hello Traders! Here we have BTC/USD. According to my TA we might be seeing a price drop to $7,900 within the next few weeks, and for the love of god, to all the people asking me what the best long term investment is, just buy bitcoin. Altcoins are for hardcore speculators that are risk tolerant. Bitcoin is the most conserative and risk averse when it comes to cryptocurrencies. When people first get into crypto the first coin they buy is bitcoin because it's the face of crypto. Which means the demand will continually rise driving the price up. So just take a LONG position in bitcoin and your investment grow. Most of these altcoins are just being pumped and dumped anyways. According to my analysis SHORT term Bitcoin will DROP to $7900-$8100 levels in the next couple of weeks. (2018/02/28) LONG term forcast you might be seeing a %200++ return this year. As always this is my trade opinion. Do your own research and never risk more then you can afford to loose! Feel free to ask me questions and or comment your thoughts and ideas. Patience is the key; You wait, you WIN! Please do not forget to like and follow. Lets see what happens! Best of lucks to all!
BITSTAMP:BTCUSD
by Gibmoses
1
LTC/USD Another Pivot PointDuring last Thursday's TA I had mentioned that we were at a pivotal point. The appearance of an inverse Head & Shoulders was formed, but we were also at the top of the "new" downtrend channel (pink lines) from post Litecoin cash upswing. In that TA, mentioned that we would need to clear $189 to confirm breakout...and that didn't happen. Also mentioned that...if that didn't happen that there was a high possibility of a continued drop in the down channel. That did happen. The decisions are never easy. We broke below the December ATH resistance line around 177-175, below the down channel mid point line (red) and we're now hovering at the Dec ATH .786 Fib line around 165. This is not a bad place to DCA a small stack since we've spent most of the time in the upper half of the downtrend channel. A bounce from this spot could take us back to the 182 level; but definitely save some room in case the dip continues and takes LTC down to the bottom of the channel $146-147 range. If we bounce from the fib, upside potential to $184-185. If we continue to the bottom of the channel, we would hope for a bounce back to 175 range with hope of a breakout. FWIW, on March 30, 2017 there was 18% breakout day which many believe was the beginning of the great bull run of 2017. I'm seriously hoping for a long price reversal soon. I personally believe in cryptocurrency, and I believe in Litecoin. It's not been easy over the past 3 months, so form your own opinions as to whether you want to invest/trade in this volatile space. As always, this is only an opinion. Do your own research, and invest at your own risk.
COINBASE:LTCUSD
by GeorgeChart
A QUICK LESSON ON BEAR FLAGS! Hey guys, just wanted to post this quick educational analysis of what a bear flag looks like and how to calculate the measured move. Pretty straightforward from the chart, but if you have any questions feel free to comment. Also, this bear flag ties in with my other idea that is linked below in case you want to see how it plays along with the current situation. As always, this is for educational purposes only, please LIKE if this has helped you!
COINBASE:BTCUSDEducation
by CredibleCrypto
BTC HEADED TO 6K! GET READY FOR THE CARNAGE!!!Hey guys, in my last idea I posted that I would post a new idea with an alternate wave count since the last idea was invalided due to price action. Here is the new idea. There are quite a few other reasons besides the wave count that make me very confident in this idea, but this idea will mainly focus on the wave count. I may post updates highlighting some of the other reasons I believe we see a sharp drop if I get the time. As always, this idea is for educational purposes only and should not be taken as financial advice. NEVER trade solely based on someone else's opinion. Use these ideas to validate your own! On the chart here we can see a 5 wave impulse followed by a sharp drop which I believe to be a Wave 2 retracement of our first impulse up. Note this wave count assumes the correction from 20k ENDED at the 6k lows we reached and that this is the start of a fresh bull cycle with 5 large impulse waves (that will take us to new ATH's). Currently, I believe we are at the peak of our B wave in this simple ABC correction. Note that the pink trendline is coming from our ATH and second highest peak, so it is a very strong resistance level that we are testing at the moment. The first red horizontal line is our conservative target which would give our Wave C (of the ABC down) a length equal to 61.8% of Wave A. The second target gives our Wave C a length equivalent to 100% of Wave A. NOTE the third target IS NOT POSSIBLE WITH THIS WAVE COUNT, but I have placed it there because if we do go below the last low of around 6k, it means the correction from 20k has not ended and the 3k level target comes into play. As always, feel free to ask questions in the comments and give this idea a LIKE if you think it was useful!
COINBASE:BTCUSDShort
by CredibleCrypto
2
BTC DIP INCOMING!!! Headed to SUB 11K before next push UP!Here we have a clear rising wedge on the 4 hourly, and at time of writing we have just forced ourselves back into it after breaking down a bit earlier. HOWEVER, assuming this is a leading diagonal in terms of EW, and we are on the fifth and final subwave up of a larger Wave 1 impulse move, we should see a nice dip any moment now. Please note though, we may go as high as 11.7-11.8k before the dip begins. Furthermore, we can see we have broken down from a rising wedge in RSI on the 4 hourly, and we have even backtested the breakdown and failed to recover, showing we are headed lower. If this is a leading diagonal Wave 1, then Wave 2 should follow, and green targets have been marked with horizontal lines to show possible ends to this dip. They are based on the 38%, 50% and 61.8% fib retracements of this last bullish wave up (assuming we hit 11.7k before the actual dip begins). Targets will be updated once the dip begins! After this dip, the longer term trend is still up and we should see 12-13k shortly after. Wave 3 will follow this dip, and it is known to be the longest and strongest, so the best is yet to come for this run! ***THIS IS NOT FINANCIAL ADVICE, SOLELY MY OPINION. DO YOUR OWN RESEARCH BEFORE MAKING ANY TRADES***
COINBASE:BTCUSDShort
by CredibleCrypto
2
Bitcoin BTCUSD Still Positive - Continue to Buy DipsBitcoin Friday Update Next Buy Point Today Bitcoin duly broke higher from 10600 and we followed that break. Overnight Bitcoin has made a high at 11189, climbing three rungs higher on this particular ladder to reach 3 points below the the next line of resistance at 11192. Day traders are closing out here and looking to get long again from lower down towards the 10888 line and potentially as low as 10681 if 10888 cannot hold up this morning. But Bitcoin must hold up at 10681 at lowest today for the bulls to remain in overall control from here. A break (not spike) below this level will tip Bitcoin into a near term negative pattern and day traders will to short more aggressively if this were to happen. But so far the overall pattern is still bullish. If still long from 10600 break higher yesterday can stay long but raise stop to under 10870 and if struck look to buy again around 10681 with stops 50 or so lower. Look to add once 11192-11200 range has been broken above looking for completion of this rally to the target at 11790. Close out just below here and some day traders may consider reversing from this point if touched later, depending on how it behaves when it gets there. More as the move develops. * For updates in real-time plase check top left of main page Yesterday: Bitcoin Coinbase Chart Next Buy Point Bitcoin has spent the last 24 hours or so hammering out a continuation pattern not too far from the recent highs. It hasn't collapsed from here, though, which has to be a positive signal, so far. It's now probing the upper parallel at 10600 and trying to break higher. To stay positive from here it has to make this break. If we see it we can follow with stops under the upper parallel by 50 points or so when broken. Otherwise, in absence of a break higher and Bitcoin spends more time in this consolidation pattern we will look for an entry from lower down later
BITFINEX:BTCUSDLong
by sumastardon
4
NEO need to DIG a little DEEPERRule of thumb for jumping down trend line is that it must go back and stomp on the line. By this it guarantee that it will not go back down there again. Neo tested the red trend, orange trend, blue trend, but he did not cleanly pass the baby blue trend and couldn't stomp on top of it. Now Neo is punished and he must stomp on top of the purple trend. The white resistance line is not going to save him for long, it didn't succeed in the previous 2 times. That said, I'm not selling a penny of this coin will get more during the dip. Do your own research, NEO is absolutely the best altcoin now. I will never compare any crypto to BITCOIN. There is no "The Next Bitcoin". Bitcoin is and always "THE FIRST ONE". Have Fun.
by JTN-BTC
BTC To Bounce at 9.2k For FINAL Push UP! Then...LOOK OUT BELOW!Based on my EW count we are nearing the end of the 4th Wave down of this 5 Wave impulse (Blue Lines). Wave C is coming to an end and we are looking for it to end at approximately $9160. Ending here would make Wave C (of the ABC correction that Wave 4 is made up of) .618 the length of Wave A, and we know that Wave C and Wave A tend to relate to each other with a fib ratio (such as .618). Furthermore, if we look within our Wave C and count the subwaves (Pink Lines) we can see that this Wave C is also made up of another smaller ABC correction, and ending at $9160 would also make this smaller Wave C .618 of the smaller Wave A (both drawn with Pink Lines). For educational purposes only, entering a trade here would give us a very good risk to reward ratio. We would place a stop-loss at $9050 (going below about $9090 would invalidate this count as our Wave 4 would overlap Wave 1 high point) and enter long between now ($9300) and $9160. Upside is huge as our Wave 5 is likely to be extended since our Wave 1 and Wave 3 were not extended. This extension can take us to 13k or higher levels giving us a 1:10 (or higher) risk to reward ratio. Wave 5 targets will be determined once Wave 4 ends (unless of course the idea is invalidated). Finally, after this Wave 5 ends we can expect a larger correction that takes us to sub 9k levels (Hence the "LOOK OUT BELOW!" part). Ideally we want to exit the trade as close to the end of Wave 5 as we can and re-enter at sub 9k levels. ***PLEASE NOTE, THIS IDEA IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH***
COINBASE:BTCUSDLong
by CredibleCrypto