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Jacobcanfield

Where Will $BTC Go??? ~ 7.5k? ~ $BTC$BTC Forming a nice wedge. The very strong support at 10k makes me believe that this is the reversal. Refer to my previous charts. But where will it go? I see a big reversal in play, breaking underneath the 200 MA and entering a bear market. Ive marked off the S/R lines where I think will be most prominent. The GREY lines are previous S/R and the labelled trend lines are the 38% and 50% Fibonacci retracement of the entire initial wave. Once it breaks downwards out of this wedge. (And Passed the 200MA!!!) I believe it will crash down to 8.6k ish, show some movement around this area. And then possibly down to 7.5K. In my previous charts i mention it could fall to 6,5K which would be the GOLDEN POCKET Fib Range. But considering this is the ABC Correction waves, I don't think it will retrace back down that far. As the first correction wave of the Elliott formation doesn't usually retrace passed 50%. Long Term View:
Short
by Acemoisan
2
$BTC REVERSAL ~ 6000!? ~$BTC Is currently testing some very long term resistance at the top of the triangle trend line, along with $ETH. This trend line has shown as some pretty serious resistance in the past. I am not saying that it will not break upwards through the trend line, but it is pretty unlikely right now. I will still be posting stop losses and possible buy ins, if $BTC does decide to break through this resistance line (which i find unlikely due to the low volume). In this case i expect it to be a pretty harsh reversal, and we can easily see the points where price will find support on the way down. (The Horizontal Lines in White) On a closer time frame you can see more specifically where the price may end up. And they happen to line up PERFECTLY with all of the Fibonacci levels of the big wave. As you can see based on the horizontal lines across the entire chart, there will be obvious movement around these Fibonacci areas. Including the 38% and 50% retracement level, the 62% (Golden Pocket), and possibly, if it doesn't reverse by then, the 78% levels all the way down to 6k!! Which has also been serious support in the past. This could be the next and last low. If we are looking at fractals, the last wave that started at the bottom of the trend and hit the top ended up retracing down to the GOLDEN POCKET!! (61.8% - 65%) This tends to be strong S/R a lot of the time. A long with the Fibonacci levels, the 200 and 50 MA seem to line up quite well with where the price could end up/show resistance. The moving averages are always a good place to watch, and is a good place to watch for closing. And possible trend reversal. As of right now we are above a Golden Cross and in an uptrend above the moving averages. The only thing that would show signs of a downtrend are if the price decides to push past the GOLDEN POCKET Fib level and fall down to 6k. I think we will see a possible bull side reversal around 7.5K which happens to be the 38% Fib level. This is just what i assume for now. I will obviously be watching very closely and reacting and possible changing my positions.
Short
by Acemoisan
$XRP IN CHANNEL ~ BULLISH MOVE INC? ~$XRP has been in a channel for months now. But it has recently been in a nasty bear trend under the 200MA. If it is able to break above this MA it is bound to hit the top of the channel once again at about $0.28. I will not be getting into any position yet. I will be watching 4hr for pattern formations, and i will be looking for a good entry, hopefully into a long if the positioning looks right. The $0.28 mark has been amazing support in the past so we can expect at least some, and it this case most likely pretty hard resistance.
by Acemoisan
2
$ETH HAS A LITTLE MORE TO GO ~ 5% ~ 4HRWill be taking profit (closing long) at the resistance line. Expecting dip back down to triangle after this. Where I will be picking up more. Ive been watching the 50-200 MA very closely on $ETH and $BTC and the "Death Cross" has been denied which is a very bullish sign, for now. $ETH has broken out of the symmetrical triangle but not quite finished its impulse move. Triangles tend to have a breakout the same size as the initial triangle wave. (Refer to the dotted lines) And im expecting $ETH to hit the HTF triangle support (Top Solid blue Line) which could be another 5% to around $245 - $250. That's where I will take my final profit, i have already taken out a portion. Im expecting a decent retracement after it reaches the resistance.
Long
by Acemoisan
BTC BULLISH TO 10K ~ Breakout of Symmetrical Triangle ~As of right now $BTC is still in the triangle formation while $ETH has broken upward. This is a symmetricall triangle so im expecting a breakout in the upward direction, in the same way the trend was moving. Ive been watching the 50MA and 200MA very closely especially on the 4hr and 1D, and the Bearish Cross has been denied thus far. This is a great bullish sign and it could keep the trend moving in a bullish direction. Im expecting a test and possible break of 10k, just so that it can retest resistance at the top of the daily trend line. And ill be watching closely and reacting in the meantime
Long
by Acemoisan
ETH UPWARD MOVE ~ $245Hey figured I would post this trade. I've been watching $BTC and $ETH and both have been forming a nice symmetrical triangle for days now. Symmetrical triangles are known for being continuous patterns therefore breaks out in the direction the trend was moving. It confirmed that in this case and it broke upward. Im expecting $240 - $250 range to lock in profits. Which is the hard resistance on the 1D time frame. I am expecting both of these to fall within a couple weeks but it needs to test the resistance of the triangle on the 1D charts. (I will have that screenshot attached) 1Day Triangle. Prices reaching for resistance ~
Long
by Acemoisan
1
$BTC RETRACEMENT BACK DOWN TO TRENDLINEExpecting $BTC to retrace to the previous trendline/Golden Pocket at $75xx BTC Has been under HUGE resistance with this trendline, forming lower lows and lower highs. There was a little rally and an attempt to break the 200 MA but it tested and failed. With that rally we had im expecting some retracement and im thinking its going right back down to the trendline and is now going to form support there. A retracement back down to the trendline (Around $7500) is very probable because 9/10 times resistance becomes support and vice-versa. This trendline also happens to be exactly at the 61.8% Fib Range or the "Golden Pocket" where a lot of assets find S/R. Additionally I have been a big fan of Elliott Waves and the impulse waves have come to an end with the 5th wave testing the 200ma. I believe the correction waves will lead us straight to the trendline to form support and the Golden Pocket Fib Range.
Short
by Acemoisan
$BITCOIN. WHICH WAY WILL IT BREAK?!?Considering this is a triangle and most of the time triangles are continuation I can see why people think it's going to break up. But after a big rally that we had to get us to 10k we need some relief. You can see that tension is building with the converging of the MA's and the increased pressure with Volume. I believe it's going to breakout downwards. Because if it does so, it will break down and find support at the "Golden Pocket" / 68% Fib Range. Which is also exactly where the 200 MA rests on the 1D. TLDR. I believe it will break downwards out of the big triangle that's been forming. So that it can find support at the 68% Fib level. And touch the 200ma one more time before the impulse waves continue. But I believe we will see 8k before we see 12k.
by Acemoisan
2
$XRP IN CHANNEL! MOVING AVERAGES ABOUT TO CROSS WATCH THE MOVING AVERAGES CLOSELY. DROPPED LAST TIME THIS HAPPENED! XRP in a nice channel for easy small profits in the meantime. I wanted to address the 50 MA that is about to pass the 200 ma. Last time this happened you could see tension building with volume and the closing of the pattern. This time around it will do the same thing and not quite cross one another and drop (first green box) or they will cross and we will see a big impulse move upward.
by Acemoisan
CNBC Bitcoin Indicator Gives An Insane 95% Accuracy For Bitcoin.Hey guys, my first chart was deleted for adding my social media profile links at the bottom, so I'm re-uploading this one. I was #1 in Trading View for a while. Hopefully I didn't violate anything on this one...? ----------------------------------- I'm sure that you've heard that CNBC is a good contraindicator, well I decided to put it to the test. After back testing what I like to call the "CNBC Bitcoin -0.78% Indicator," it is giving us a clear buy signal in this new range. Almost every single bullish tweet we've seen has been at the top of nearly every single rally, giving us a very strong sell signal. With every bearish tweet we see, it has been a clear indicator of a short reversal and end of a rally. #1 - 90% return. #2 - 26% return. #3, #4 #5 - 34% return. With every bearish tweet, we typically see on average a 30% return. In the last week, we've seen 3 bearish tweets from Twitter, which gives us a clear indication to go long here. Based on our 30% average returns, we should see a strong rally back to the $8500 area, where we will then wait for more bullish or bearish tweets to let us know which way we are going. I believe this is a perfect reflection of the emotions of average traders and investors, which is why it's such an effective strategy. I'll be updating this more as we move forward to see how this trend continues. After I posted the chart, I received over 1.1k likes on Twitter and CNBC even sent out a tweet saying "This tweet is neither bullish nor bearish." I then received a call this morning FROM CNBC for potentially coming on their show. Thanks for the lover and support. Will post more soon!
BITFINEX:BTCUSDLong
by jacobcanfield
162