Kelly_John

Kelly_John

Disclaimer: This is not financial advice. I am not a statistician. I am not a trading/investing expert. I am a wildlife biologist. This is just a regurgitation of my research, thoughts, and opinions, along with my attempt at having fun with numbers to create an incredibly speculative model for Bitcoin’s future price action. Hang in there folks, this is a long one....

Kelly_John

Bitcoin is currently holding at the intersection of two important channel lines, as well as the 38.2% Fibonacci retracement of last month's bullish movement. (Happy August!) There is strong support here in the 7300-7500 range, as shown by the volume profile. Bitcoin is positioned atop the 200 SMA on the 12 hour chart, the 100 SMA on the daily chart, and it has...

Kelly_John Updated 

After a month of turbulent selling, Bitcoin is finally nearing strong support levels that could reverse the crypto market. The 130 day moving average, with which Bitcoin has had a predictable relationship, has been retested after nearly five months of parabolic growth. A logarithmic trend line and the 61.8 fibonacci zone have been reached. Long trades can be...

Kelly_John Updated 

XRP is priming for another rally to new highs despite less than ideal news from Coinbase. www.zdnet.com Potential targets include the 61.8 extension of the previous run, $3.78, and the 38.2 and 61.8 extensions of the most recent run, $4.50 and $5.20 respectively. Wait for breakout above $3 or set stop below $2.40

Kelly_John Updated 

QTUM/BTC has formed a bullish flag/cup and handle pattern over the last several days. Profit target is the 0.0053-0.0061 level.

Kelly_John

As I've studied the BTC chart, I've begun to believe that a retest of 8000-9000 USD is likely before the bull run continues. The verticality of this last retracement further indicates that the bears aren't done with Bitcoin yet. Nothing has been confirmed yet, but I would be cautious until there are strong bullish signals again. Support at 8700 and 9000 USD.

Kelly_John Updated 

What a retracement! BTC has sold off over 25% since its all time high at $19,900. The market is still looking bearish, but we are approaching strong support that could create a reversal. Buy orders should be placed at the 2 month trend line around 13,300-13,500. There is the possibility of a panic capitulation beyond the trend line to 12,500. This is a strong...

Kelly_John Updated 

Look at that retracement! Bitcoin has sold off over 25% from its all time high at $19,900. The market is still bearish, but it is quickly approaching support that may reverse it. Buy orders can be placed at 13,300-13,500 where the two month trendline will provide support. The next support is at 12,700. Watch for reversal signals in price, indicators (RSI, Stoch,...

Kelly_John Updated 

Bitcoin is showing signs of a market reversal. Bearish reversal in the overbought RSI and MACD histogram indicate that the market is overbought and is preparing to consolidate. Support is at the 12 SMA, 23.6% fib retracement at $15250, 38.2% fib retracement at $12,400, and the trend line drawn above.

Kelly_John Updated 

Bitcoin has been in a strong bull run since the last swing low at 5300. For the past 22 days, it has followed a 6 day cycle. In each cycle, Bitcoin has risen and fallen to a trend line in a parabolic pattern. We are in cycle four. A retracement to the trend line at the end of this cycle would bring us exactly to the 23.6% retracement, which is at a major...

Kelly_John

Latest Bitcoin Cash run has been followed by a flag formation. Expect breakout between November 27-29. There are three ways to enter the market. Buy if the market enters the 1450-1525 fibonacci range, taps the uptrend line, or when it breaks above 1635. Target prices are 2014 and 2165. Place stops below 50% retracement of 1450.

Kelly_John Updated 

Bitcoin's bearish divergence, short term double top, exhausted RSI, and bearish candlestick symbols all indicate an imminent correction. The first support it will hit is the previous high of 6200. Although this could hold, I believe a more likely target is 5000. This was the ATH of the previous wave, and the 61.8% fibonacci retracement of the previous closing low...

Kelly_John Updated 

As traders and investors moved on to new crypto-attractions, Ethereum has steadily been forming a wedge pattern. Either Ethereum will break out from the shorter term wedge by Thanksgiving Day or will continue filling the larger wedge drawn above. In the latter case, We may not see a run until February 2018. If it reaches the 161.8% fibonacci extention, Ethereum...

Kelly_John Updated 

Let's take a look at Bitcoin. It has been near the top of its logarithmic channel for two weeks now, steadily climbing a rising wedge. It has tapped the 161.8% fibonacci extention of the early summer wave for the first time. 6400 will be a strong resistance. If it breaks BOTH the 161.8 fibonacci extension and the uper boundary of the rising wedge, Bitcoin could...

Kelly_John

Bitcoin continues to remain in a logarithmic channel. I made a simple chart showing important even numbers and when they will intersect the channel. The soonest Bitcoin will reach $10,000, assuming it stays within the channel, is by Christmas of this year. The latest is next April.

Kelly_John Updated 

After a hefty sell-off, Litecoin has reached the bottom of a horizontal channel. If the sine pattern continues, Litecoin should double by the end of September. The RSI has reached the oversold zone and the bottom of it's sinuous oscillation, signaling a price reversal as well. Buy around 0.01 BTC and sell at 0.021

Kelly_John Updated 

These are the scribblings of my ideas and analyses. By finding patterns from previous selloffs and pinpointing where the indicators indicate things should happen, I laid out my vision of Bitcoin's path. These are my thoughts. How do you interpret Bitcoin's chart?

Kelly_John Updated 

The bullish divergence on the RSI and the indicator's oversold state indicate that Bitcoin Cash will enter an uptrend soon. Two likely targets are the top of its inner channel, and the top of its larger downward channel, 650 and 720 USD respectively. Watch for reversal signs to sell.