BTCCNY shortBTCCNY - short, trade 2, feb 27.
Stops: (1st - 2884,76; 2nd - 2924,20)
TPs: (1st - 2809; 2nd - 2766; 3rd - 2726)
Okcoin
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.
LTC: update (19-feb-2016)18cny possible soon,
if not, to 30cny in any case,
then bullish rally continuation or
the last correction to 8cny before going up
Another classic HS ? :-)Details at chart. Right shoulder and head are pretty similar.
Important moment probably incoming - test of trendline.
BTCCNY: Resuming the monthly uptrend? - Minimal downside riskBitcoin has been in a monthly uptrend for some time, but still hasn't reached the target.
Currently the weekly chart had given signs of a potential decline, but said decline is now failing to confirm the downside, giving way to a potential long trade.
I'll be looking to enter longs by the weekly close, aiming for a 58% to 100% upside, risking more or less 20% from my entry. Currently there is a possibility to trigger a weekly time at mode uptrend continuation signal, which would suggest price could reach 3720, or even 5097 in 9 weeks or less.
My group will be entering this and the potential uptrend continuation trades today, and we will continue to exploit this juncture if we get confirmation of monthly uptrend resumption. Currently, price has to move above 2955 to give way for further upside, but I think it's highly likely that this happens in the near short term.
For more information on joining my private trading group or if interested in mentoring, contact me via pm here, skype or QQ.
Good luck!
Ivan Labrie.
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.
BTC: In case my last bear analysis doesn't be Zooming in my last weekly chart to day-timeframe it is possible a triangle formation to complete the "b" wave. If we are into a bull trend since january then this correction should break down to continue a bullish rally thereafter. BUT if we were still into the bear market it would be very possible to see the price below 1500cny. Anyway in both cases it seems we could touch 1500cny, even 1350cny to make double bottom ;) In the other hand the RSI has a primary bear div in day-timeframe. Thanks for your reading ;)
By the way my last analysis is not yet invalidated.
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?
BTCUSD Run stops then onto next stopLooking for BTC to move down a bit into this mitigation block. Would also be a good move to run stops.
From here we could see a move to the Daily bearish OB at 430, which also more or less lines up with the longer term trendline in red.
I've trimmed some of my position at 408 avg. Also had a look at TTSI which peaked at 55%, this is dangerzone in my book if it is combined with resistance on a 4HR TF or higher.
DAILY PREDICTION BTCCNYThe daily's looking nasty here. $390 has been rejected on U.S. exchanges which has negated the possibility that enough momentum exists to push to and beyond $400. Looking to add on a break of 2520 cny1.05% as well as support denoted by the thick orange line.
Pseudo Analytical Indicators: New moon and Chinese New Years converge tomorrow, the 8th.
BTCCNY OKCoin.CN Monthly Pivot BreakAssuming we break the Monthly Pivot around 2620 and we stay above it, we can expect significant upside movement into the 4h order blocks.
Ultimate target would be monthly R1 level around 2900s, with a long term triangle break-up.
Following that, we can expect a retrace into the top of the triangle area to retest that breakout, and then we can see if its gonna push past the R1 and move into STRATOSPHERE
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!
BTCCNY: Update - Pending downsideIn this chart I demonstrate how BTCCNY is correlated to equities. My previous analysis resulted in a powerful short setup which hit the target. Currently we're in a short trade, after closing out longs we had opened near the lows a couple days ago.
I anticipate more sellers coming into this pair, as well as in the stock indexes, so it's wise to be positioned on the short side for the coming weeks.
There's a deadline for price to hit my first target, which should be achieved by February 7th or earlier, as well as potential for an extended decline reaching all the way down to my second target at 1399.01.
In the short term, short sellers can book partial profits on a retest of the recent weekly low.
For more information contact me privately, I'm running a Bitcoin, Stocks and Forex trading group, as well as offering a promotion for people who opt for coaching sessions which is valid until January 31st.
Cheers,
Ivan Labrie.
BTCUSD3M Possible stophunt prior to move higherThis is what I'm looking at for BTCUSD3M on OKcoin.
We have the area 360-365 which is a +OB, nice confluence with FIB OTE.
We recently made two pretty much equal lows.We should have liquidity below, people who got in at +-360 and moved there stops below these recent lows are an easy target for the MM/woodchipper. If we hit this area and trade away from it agressively it's a very bullish sign.
Stall there and break 359 would mean looking for the next targets downwards imo.
Feedback welcome.
BTC - Next step to 50% fib.The rejection at 2560 cny (also 0.618fib retracement) is really interesting for a short signal. The currently printing ping should confirm the bearish trend and give us another leg down.
2300 cny has several interesting support potentials.
-0.5 fib
- Pitchfork channel support from both forks.
-Trend line support
If we bounce at 2300 we could see finally some bullish momentum to at least the top of the inner pitchfork possibly the upper trend line.
If we slice right through 2300 the next critical support should be around 2000 cny.
if you enter a short position your stop has to be above 2600 cny. I would suggest a tight stop above the daily high in case we magically start pumping.
Because overall we are still in a choppy kinda range like you can see on my related weekly chart.
Good Luck! :)
BTC - Bigger picture weekly - Levels to work withBTCCNY
The picture we are plotting currently reminds me of the 2014 run after the big decline.
People still expect Bitcoin to moon over night which causes a lot of fomo especially because many Bitcoin investors are very inexperienced traders and tend to overshoot.
Where will Bitcoin go? We don't know yet. There are more or less clear lines. But for now Bitcoin is very choppy in a slight downtrend. Overall Neutral.
If Bitcoin wants to stay at an healthy trend it has to stay in the range of the Pitchfork I pictured.
Unexpected big news can of course change the hole situation and make Bitcoin shoot throw everything in both directions pretty fast.
With the still ongoing civil war about the Blocksize limit which isn't showing any significant development still today I would keep a slightly bearish sentiment overall. The 2000 CNY level should be a major and significant support you should watch very closely if it gets approached.
In the End Bitcoin is a very high risk asset with a lot of emotions and hope driving it.
Therefor: Never fomo trade / chase if you don't feel sure about your trade. Especially if you are on leverage.
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?
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!
Bull and bear scenario for Bitcon Major Consolidation has been taking place in the form of this triangle. Soon BTC will break out. Right now I am leaning about 50/50 each way. Given Bitcoins volatility when it does break out of consolidation the move could be huge.
Reaffirming short from Dec 20, more trouble ahead for BTCAs I stated on 12/20, it was pretty much impossible for BTC to not sink further and significantly. Though it did have a short rebound for X-mas that was destined to be short lived. BTC is only down 7.25% since I made my prediction but with what the 3 hour through 2 week indicators show is trouble. The shorter 4 and 6 hour indicators show a reversal underway following this slight recovery. The one and two day MACDs have still not bottomed out; and worst of all, the 1week and 2week MACDs are looking like they've peaked. This would be their first downward movements since Aug/Sept when we were at 1500CNY/235USD. The StochRSI at 1week is showing its first downward cross since the early Nov. drop as well I would NOT take this lightly.
I'm still optimistic in the medium-term and I'd be very surprised if prices got anywhere near that low, but January could get really cold, really fast. If you are still in BTC I would have your alarms set and be ready to trade or at least hedge with a put option or two. If you are out, just don't get back in too quickly, it can be tempting to see the 2-hour MACD/RSI going positive and panic-buy, but I'd advise against it. 1 day indicators should be able to show us the way when it is time to return.
