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Projected Bull Run Based on Recurring Price Action - BitcoinAs can be seen in the blue box on the left, following the December 21st dump, a head and shoulders pattern formed which lead to another sell-off. After the sell-off, a bull run began (1-5) that lasted almost a week before more substantial sell-off occurred. The recent dump that occurred on the 15th of January has given rise to remarkably similar price action as depicted in the blue box to the right. Price activity is also now beginning to look similar to the price activity in late December that turned out to be the beginning of the 1 week bull run. I have sketched out what may occur if a similar bull run plays out over the next few days: After a brief drop in price to around 10,400K (2), bitcoin would break the regression line (dotted line) and stall at around 12K (3). Bitcoin would then drop to test the regression line as new support (4) before making a final run to test the resistance line that has formed from the 17th of December (5). The most attractive buying opportunities occur at 2 and 4: Buying at around 10,400k with a stop loss a bit below 10k (2) and buying at the retest of the regression line with a stop loss a bit below the regression line (4). However, since there is no guarantee that a bull run similar to the one that occurred at the end of December will play out, buying at 2 is riskier. If price does bounce at around 10,400k and stall shortly above the regression line, then purchasing at the retest of the regression line would be the more attractive option for cautious traders, as the outlined bull scenario will have been given more time to prove itself. The drawback, of course, is that you miss out on a larger portion of the run. This is my perspective on what I see as potentially happening over the course of the next few days. Price action may not play out as it did during the brief bull run that started at the end of last year, or even if it does, some event may hinder this scenario from playing out fully. Fundamental analysis is important. CME futures contracts expires on the 26 of January, for instance. Note: I used an Elliot wave tool to sketch out the bull scenario, but I did this only to highlight price action in a way that presents the information clearly - both visually and in writing. I didn't count waves or make sure that wave counts follow conventional rules, this is not an Elliot wave analysis of price action.
COINBASE:BTCUSDLong
by TheChartmergeny
2
WABI - Still Below Full Potential!WABI been very strong ever since ICO was launched! It is promising project with promising future. Here are some highlighters: -> Working product, already used in stores and mobile phone app -> 2018 is going to be used building partnerships and marketing -> Market cap is only 1/3 of it's competitor #WaltonChain -> Great stuff coming in 2018 TA stuff The price has been very loyal to it's longer term uptrend line and is forming Ascending Channel which is offering a new trading opportunities in short and mid term. Quick rejection from .382 fib level is one of the evidence that there is still potential for growth. Indecisive candles are helping us to determine our next move. When the price reversed from the bottom and started to form indecisive candles, we are able to draw support and resistance levels which are helping us to navigate through of indecisiveness. The current setup is indicating bullish momentum. But it is important to wait and see the formation of each candle and break out signal. Price is hovering at the moment above MA100 level and strong support area. Buy orders should be set above of recent swing high and above 0.0003 level with confirmed break out signal. Stop-loss order at 0.00024 level. For this trade the main targets are at 0.00038 and 0.0004 levels with a longer term target in the grey box area. If the averages crosses it is recommended to wait patiently and seek new trading opportunity from the lower levels. Note this is a longer term trade! If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :) Happy trading! Things to Remember: Stop-loss orders are strongly recommended. Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back. Do your homework before investing. Yarr
WLong
by yarr
1
Gartley and Cypher Pattern on 4HR XRPBTCThis may be wishful thinking since I still haven't got into Ripple on this "crash" (Correction) but we may be forming a gartley/cypher pattern on the 4 hr chart. We are forming similar patterns on ETH and BTC on the 4 hr chart. I still think we're due for another correction. If you look at BTC, ETH, XRP on a daily chart, it appears to me that we have not completely corrected. Just my thoughts and hopes so that I can buy more when it gets to these levels. Let me know your thoughts!
by dcardona1
3