Get started

XBTCAD

BTC/CAD - Stick To Your Vision - Buy Low!!BTC did exactly as my analysis predicted - we have traced the right side of the H&S and will need to go a bit lower before the current pattern is done. Many if you probably bought some BTC between 9500 and 9600 - its been banding between these prices for a large part of the pattern. This is not a bad long position price. If you have been patiently waiting for the right side to trace all the way down to start buying - I recommend you wait a little longer - at least wait until around 8900 - any spike in the meantime will be temporary and we will correct back down. There is a ton of buy pressure in the 6000's and beyond. I have always believed we will bottom in the 8000's again before we move back up to 12k. We are really close to some of my target prices. I've waited since May 29th to see this pattern play out. Once we hit my first target price I will release another chart showing whats going to happen next. My recommendation if you are in the cash is to split it up into a few "chunks". Money management is key to surviving these volatile times. My first buy will be at the bottom of this pattern ($8900) - I am predicting that the bearish trend will continue until we touch the low 8000's - so I am holding back. At the end of the H&S pattern there is a very good chance we could see a small rally - but unless it breaks above 9700 I wouldnt think much of it. Stay patient and wait for the targets! Money management is important - your crypto budget should have at least 20% for Alt coins - this could help you grow your btc holdings even more. The projects I think are offer the most value and upside are LTC, XRP, ETH, EOS, SC, DGB, XLM and XMR. Be patient - Stick to your BTC projections - if you aren't confident - find a trade you are confident with! Most people never regret missing losing - they only regret missing winning - theres little difference between the two other than outcome. There is always a new entry and exit point - stick your vision - if you miss is this time you'll get in on the next pattern.
by rgeddes
BTC/CAD Analysis - Target Buy Price!I noticed today nobody has been charting the BTC/CAD pair regularly. The problem with the BTC/CAD pair is that it doesnt "convert" perfectly from USD to CAD and depending on the exchange you are using you might experience volume problems when buying or selling. That being said we are looking at a play of about $1000 CAD. BTC is set to slide to around the $6500 USD mark as it completes the head and shoulders pattern it has been tracing for the last number of days. The best way to play the BTC/CAD pair is to look at the pairings for other currencies and infer from there. The CAD/USD exchange is unlikely to dramatically change - so we can use the USD graph as a secondary resource and predict that BTC will in fact go down in CDN. My target is $8400 CDN - this doesn't imply that it will not drop any further after it reaches this point. Technical Analysis has its limits in this regard - what happens after this pattern completes and it hits it target is anybodies guess. History seems to repeat itself with BTC - so I expect once we hit the "bottom" of this pattern we will quickly jump back up to 10k. This could be a quick play or we might continue moving sideways or down for some time.
by rgeddes