Huobi
Out of new triangle soon? Here's the target inv HS out :)All details at chart. Simple and clear, just trade.
3-steps dump fractal + 2 trendlines. Voodoo?Details at chart...
If this pattern will repeat itself... ...this chart can be interesting one.
Good luck!
BTCCNY shortBTCCNY - short, trade 2, feb 27.
Stops: (1st - 2884,76; 2nd - 2924,20)
TPs: (1st - 2809; 2nd - 2766; 3rd - 2726)
BTC target: 2884 cnyDetails at chart. Target is last high.
Above 2884 cny we see pretty tight potential consolidation place.
Staying above 2884 cny for longer than few days is very bullish for me (but potential sideway with chops).
2800cny should establish as a new floor if trend is really bullish.
Another classic HS ? :-)Details at chart. Right shoulder and head are pretty similar.
Important moment probably incoming - test of trendline.
Out of HS and down? shortterm bear chartAll details at chart.
Not shorting this but sold.
BTW. Cannot publish 5m chart but 5m chart is better to see this obv HS pattern.
Bitcoin Next Move Outlook for the second half of FebruaryOn February 7 we started to break indecision which lasted from the end of January. Now its finally confirmed that Bitcoin price will rise, at least for some time from now. RSI is still low around 60 on higher timeframes above H4. Uptrend is confirmed by quick breaking resistance levels which are subsequently confirmed from the upper side and price climbs by this steps up and up.
Last week we also see rallye on different altcoinf such as ETH, MAID, XMR, and many others. However it soon turn out that all this false hope will end in tears. ETH will never make higher high and my prediction is that by the end of February it will decline back to price where it was and in the future ETH price will inevitably comes to almost zero....
CNY is depreciating and thus bitcoin price will go up.
However there exists some tiny possibility that price rose only to decline even more - now on H4 and H2 and H1 we can see divergence between price and RSI however taking into account all other fundamentals and TA this very probably prove to be wrong what on the other hand only even more confirm the uptrend and make uptrend even stronger and thus the final price which we are heading to will be even higher.
My current prediction is that we are heading to $450 level or above. Perhaps we can just see new price canal which is established between $360 and $460 with occasional price flashes more up or down depending on price pumps which occur on different exchanges.
Very probably we reach $460 or CNY 3000 soon. I think now we are making another CNY 500 up from previous decline CNY 500 (which made a triangle which high was CNY 500).
I am very bullish on Bitcoin long term and my short term predictions turned bullish as well. Unfortunately I sold most of my Bitcoins and now I must buy them back again so I am byuing on decline and selling on tops.
happy trading
Let me know what do you think in comments below :) How much profitable trades did you make?
Possible Scenario - Falling WedgeThis is starting to look like one massive falling wedge, for which Bitcoin is famous for. Although it is a bullish pattern, the last one we found ourselves in during the summer of 2015, failed miserably (with a Bitfinex stop run below $200). This time around I tend to be an optimist, expecting a great buying opportunity between $300 - $320. Of course I assume there will be a significant amount of chop and and squeezing within this wedge.
Good luck!
Bitcoin Next Move Outlook for week commencing february 1stHello guys whats up? Another analysis is here for you. Look at that nice green and red candles making new lows day by day. They are so strong and sharp. When does it end? Next week or a week after? When comes that day when we fall at the very bottom and price turns north? Desperate time desperate measures. Despite we all love that shiny Bitcoin we must sell it. Yes sell it all which almost bring tears to my eyes but it is only because we want to buy more bitcoins at the bottom from weak hands.
Now Bitcoin again touched downtrend line and it will decline sharply to the bottom line. First and weak resistance is at $370 stronger resistance is at $317 which will very probably be at the very bottom and offers reasonable point for buying bitcoin. However on some exchanges price could drop lower, maybe on Bitstamp or Bitfinex we can go as low as $299. Maximum possible decline during this decline could be $282 but it might b just an unexpected candle shadow on OKcoin or Bitstamp. From $320 price will recover and goes back to $370. However its not clear whether price decline more. Once it breaks downtrend line we can expect strong uptrend which is aimed at $600 with resistance at $400 and $500. Dont forget to use leverage it can multiply your profits but be carefull. Kids dont try leverage it home but only under adult supervision. Thumbs up !! :) and let me know what do you think in comments below :) How much profitable trades did you make?
Bouncing Bitcoin heading to $500Bitcoin is making a triangle now. Also on H4 Head & Shoulders is visible. Due to divergence on Weekly to daily chart between MACD and RSI and price chart it must fall down. But not deep, just to the next SR which is about $320 or $315. From that it rebounces back to $400 and $500. Halving is knocking on the door and price will make it to $2000 this time
Prepare for a big moveLooks like we are in another infamous Bitcoin triangle. We had a nice short squeeze to $465, followed by a brutal long squeeze into the $350s. I suspect once this triangle resolves we should get a juicy move out of it. Personally I am leaning (and hoping) for a push to the downside. Simply looking at the Open Interest levels, I just don't see us having the buying power to make new highs. But hey ... this is Bitcoin, and anything is possible.
Good luck!
If BTC can't break 2951, then history will repeat.Red lines = everytime MACD (11,24,11) divergence has gone below -10 after being up > +10. As you can plainly see, it's pretty rare that the 1 day MACD is unreliable with these parameters. This recent fall has tried and failed multiple times to get past the 2951CNY mark. If we use 11/10 as a guide BTC would be going down 20% to around 2330---however I'm at least a little more optimistic that it will, at worst, bounce on the 2450 (or maybe simply 2500) fibonacci support line before climbing back up.
Bear in mind (no pun intended) that the 1 week MACD is due for a drop though, meaning things could get perilous real fast.
Is this what is happening with Bitcoin?I suspect we are witnessing a massive inflow of South African Rand into Bitcoin, which becomes quite evident in the above chart. The Rand has already reached record lows against the US dollar, and could show further weakness. Although I am expecting a pullback in BTC eventually, this bullish trend could continue for some time.
For further info watch the following CME youtube report: www.youtube.com
BTCUSD/BTCCNY: Intermediate term trend signalThis chart presents trend signals for 8 Bitcoin exchanges, using the daily chart.
If price were to move to the entries on chart before the daily close, it'll be a very high probability trade, considering the recent failure to move up, more than once, and the increased volume present on the profile distribution.
Good luck if taking any of these trades, and remember to check out my private group information.
See my twitter page for more info on how to join: ivan_labrie (first tweet).
Cheers,
Ivan Labrie
P.S.: The long term outlook won't change unless price moves under 1548 in Okcoin, keep that in mind, so I will be going long in a separate account as well. I'll update the chart after the daily close.
Fakeouts, hourly 200 ema, 3rd structure and apex of new triangleAll details at chart.
My sentiment is still bearish/sideways.
Apex of new triangle is about to end soon.
Expecting bigger move soon... ...or boring sideways.
Fakeout then Breakdown? Eu BTC terrorists FUD?Details at chart.
Looks like we're going down from triangle with nice fakeout 18th.
If price won't come back above triangle upper trendline soon, targets would be at .618-1 fibo retrace.
If breakdown is not fake, upper triangle trendline should act now like a resistance.
Chart suggesting SHORT sentiment but it can go back up soon or go sideways without any clear trend.
Anyway some FUD about terrorists and BTC is typical short information especially after mini bubble 500$, weak bounces and many sideways days.
Good luck!
Abc now? Finex made a breakout but Okcoin is not.
Expecting correction soon. Targets at trendlines and fibo levels.
100 and 200 hourly EMA following trendlines.
If 5 is top and C will end at trendline around 320$, big HS can be formed (1-5abc as a head)
BITCOIN December ForcastAfter the dump from the smaller triangle we have entered the larger triangle again. (same top area, different bottom area)
We can see some existing bullish orderbooks and insititutional investment present around key support levels on the way down as was saw when we dumped to 2060, the price immediately got shot back and then pumped on the MSFT news.
Right now we have 2 options and an inter triangle trading range (which might proove profitable or not depending if we break the triangle or continue the pattern, so far is is looking that we're hovering over the bottom of the triangle)
If we break the bottom support level, we might see a spike back to the low 2000-2060 range before we see how much the orderbook will be bought up
If we break upwards we have 2 key lines that we will bounce on 2280-2340 which is the range of the previous triangle and then again on the way around 2420-2450 which is the previous 4h pivot point
Somewhere along 365-390 we also have the very big bear downtrend line from December 2013. That plus current support are making a large descending wedge which technically means that the price should pump. Given the fact that we've went this far into the wedge, the breakout price is actually quite close (we broke it when we pumped in NOV)
So in my opinion the plays are like this
1) You can trade the triangle but i dont recommend it at all, as it can break down
2) Buy if it breaks triangle on the top, and keep adding to it if it breaks the big bear trendline (make sure you have a few Daily candles done not just a wick which happend in NOV)
3)Sell if it breaks on the downside but keep a close eye on it and keep your position controlled. The end of the wedge is relatively close so we could theoretically break out of the pattern at any time and break it fast (like MSFT breakout was) which was also a large Stop Hunt(tm))
Some people most notably DanV and a few others are poiting that the true bottom of the wedge will be around 250. I am not as PRO in Elliot waves as they are, but that might happen or it might now, but you have to keep this in mind.
Also keep in mind that if we do break $275, and if we break $262 (which weas the high of the prev pump) then its gonna be blood in the street, etc etc.
Regards
