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Updated traditional market (SPX) normalised Bitcoin (XBT) ChartNow that a new somewhat trending market structure is starting to form after the recent "blackswan" triggered dump correlated to the tradition markets, here's a re-look at the SPX normalised Bitcoin chart to look out for bullish decoupling in a time where the traditional market remains bearish. In summary, for BTC to switch into a bullish "decoupling" phase wrt to the traditional market, the ratio needs to at least break up above the Ichicloud and finds support; at least that is where I will set my buy in point (at around 2.36, and then stop-loss at below 2.09 after). See initial look and discussions on this experimental analysis attempt:
BITMEX:XBT
by cybernetwork
BTCUSD 7Mar20: Bullish/Bearish ScenariosBullish: Coming down to 8732 USD and bouncing off, establishing a higher local low? Bearish: Dropping back down to the 50% Fib level @ 8507 USD, and probably will then retest 8732 USD before failing and falling deeper down. Present course of action?: Wait & watch for next move. Price likely to drop lower first for both cases. Set stop-loss for bearish case (@ ca. 8675 USD) with the aid of the RCVI Stop-Limit Selector Script. Fresh PRISM Signals' Buy signal triggered (suggesting an underlying positive acceleration of the momentum increase). However, need to wait for Cyber Ensemble for technical confirmation -- which actually recently signaled a sell instead. Clear bullish signs of accumulation present. However, the actual PRISM acceleration/jerk oscillators look weak. Significant low reversal earlier triggered on FUSIONGAPS V5 Continued from:
BITSTAMP:BTCUSD
by cybernetwork
BTC: "Buy" signal on my Cyber Ensemble script triggered. BUT..BTC have finally now tested strong support zone between 8.5-8.6k USD. ------ Also appear to have found support above the 61.8% Fib retrace. A bounce looks possible on the short term, but won't be too bullish. PRISM Momentum is rising again, while PRISM's primary oscillator indicates oversold condition. Price needs to recover back above blue zone again and be supported by it (and hold), for me to feel truly bullish again in the mid-term again (i.e. within the next week or two); for now, I'm playing it cautiously @ ca. 9633 USD Or at least, it needs to pierce back above the 78.6% Fib-retrace level, and through the Ichimoku Cloud ({Cybernetwork} settings) and be supported by it, putting it back within the descending channel again @ ca. 9450 USD. This will prevent the 50/200 DMA death cross from occurring. There's a possibility for price to fall even lower after a more probable weak recovery (i.e. anything below 9450 USD), to drop further down to 8k USD (or an even more bearish scenario, down to 38.2% Fib-retrace level at 7745 USD) so I'm preparing for that scenario as well. On the 1D chart, it simply looks like a retest on the 61.8% Fib-retrace level and testing the green Ichicloud for the first time. Provided that the 1D Ichicloud does not flip negative, and price doesn't go significant below 8475 USD, and appear to be rejected by the 8.5k USD level, I will remain cautiously bullish into the longer term (i.e. next mth or two). ============= My short term prediction for the price to first bounce off above 9 and 9.5k USD, or at least move relatively sideways didn't work out. Price went straight to my mid-to-long term target around 8.5-8.6k USD -- showing that market is exhausted for now, and I won't be expecting a parabolic run up again anytime soon, as well as highlighting the need to set sensible stop-limits to protect your funds and limit risk no matter how bullish/bearish one may "feel" about the market. Looks like the market needs time to consolidate and stabilize first. See previous analysis: and
GEMINI:BTCUSD
by cybernetwork
Possible downward channel ETH is now in. 228 USD target?Looks like price will want to bounce up again in the shorter term, and even eventually go down to 215-228 USD @ the 61.8% Fib-ext level. Speculation: ETH possibly making its way up after hitting 61.8% level to overcome resistance -- to signal a pump much higher after completing a bull-flag formation. Acceleration is trending upwards into the positive now, which is expected to pull Momentum higher again. As usual, highly dependent on BTC chart too. Buy Signal triggered on PRISM Signals on the 1hr timeframe. Will wait for it to be triggered on the 3hrly time frame (where there's better confluence) for confirmation. See prior analysis:
GEMINI:ETHUSDShort
by cybernetwork
BTC now tested and supported by bottom of channel.Clearer signs of a positive change in momentum. Price moved further down from ca. 9500 USD support, divergent from Cyber Ensemble buy signal. Will wait for it to be confirmed for 2-3 more candles and as previously mentioned: " Will wait for (the blue buy signal on) PRISM Signal to trigger as well perhaps, then relook at the chart and PRISM oscillators, before if a breakout higher is imminent or will price more likely break down lower infact. " Also as before mentioned, there's a chance for it to go relatively sideways down to 8600-8500 USD first before recovering -- so need to wait for confirmation before making any move.
GEMINI:BTCUSD
by cybernetwork
ETH more likely to fall back down?Cyber Ensemble sell signal triggered on the 3hrly. BTC also looking weak atm: However still need to wait for the breakup/down for confirmation and look at the macro timeframes. IMO shorter timeframes doesn't predict price movement towards the end of a consolidation that well. 1D chart bullish in the longer term, but looks like it wants to come down to revisit 216-228 USD first. i.e. could set 50% of the trading pool to catch a break up, and the other 50% to catch a break down at appropriate levels. See previous analysis:
GEMINI:ETHUSD
by cybernetwork
ELASTOS (ELA:BTC) is still conforming to the ascending channel.ELASTOS (ELABTC) is still conforming to the ascending channel (Note: Log-scale). Possibility of ca. 100% gain (similar to the ICX breakout) if it is able to pierce and hold above 0.000269 BTC? Need to continue to monitor. High risk, but potential high reward. Continued analysis from: Need careful risk management and protecting profits so far (I'm using my own script "Volatility {RCVI} Stop-Limit Selector") to decide suitable stop limits.
E
by cybernetwork
BTC (less speculative) longer-term analysis [UPDATE]BTC have successfully pierced the 10159 USD resistance, and is expected to head gradually towards 11764 USD (by 27Feb20? presently confined within an ascending channel), if it is able to pierce that level, then there's a potential to seeing a parabolic rise to 20k USD. The next higher level will be at 14102 and 17058 USD, but those are relatively weak resistance levels. Follow-up analysis from: 3D Chart: Weekly Chart:
GEMINI:BTCUSDLong
by cybernetwork
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