ibankbitcoins

ibankbitcoins

We were down 4 days in a row, by Friday, the selloff slowed and dips were bought. Taking a look at the daily chart, we are still above major support and above rising trendline bitcoin daily chart/supports If price can consolidate and stay above major support and trendlines, it is bullish. I will be buying the dips. If we falter, I expect another retrace to 250...

ibankbitcoins

I am not good at picking tops. I don't usually try to call it because I don't trade it. However, I believe we are close to a short term top. Sentiment is euphoric on LTC right now. So euphoric that this forum's discussion have been derailed by LTC in the last two days. Top traders on LTC futs are at 66% or higher, that is unheard of in BTC land....

ibankbitcoins

Bullish, target 310 or so. Holding my long from 248: ibankbitcoins.com I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, www.twitter.com

ibankbitcoins

Still holding long from 248: ibankbitcoins.com I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, www.twitter.com Time-stamped trading performance: ibankbitcoins.com

ibankbitcoins

Bitcoin price has been climbing for 5 days including 2 over the weekend. Bitcoin movement tend to stall over the weekend and any real movement is pretty rare. As you can see, we are hitting the descending trendlines. I want to bring attention of what happens when the market is up 5 consecutive days in a row. I've covered a while back on bitcoin price backtest...

ibankbitcoins

As of today, we can clearly see a bear flag forming on the daily. This is bearish and a continuation pattern. Take a look at the bear flag pattern, also check out the bull flag trading pattern which is better explained. As a trend following trader, I am short and I will continue to follow the trend religiously. I do not know if bears have enough selling pressure...

ibankbitcoins

I don't draw many trendlines, I think we will are due for a bounce. Just a bounce, not a trend reversal. I think 1440 is a reasonable target in the next few days. Again, the trend is down. Remember I did an analysis where BTC market was up 5 days in a row? What happened was a short pullback before continuing to climb to 300, 15% gain. This downtrend printed 5...

ibankbitcoins

The charts doesn't look good for bears, market just recently broke out of the triangle on the 4 hour bar. More confirmation is needed, a higher high or a daily close is bullish. While I am long, I keep my technical analysis objective. We broke out of a downward trendline, while it is not bullish yet, short term downtrend in price is likely to be over. We may chop...

ibankbitcoins

PART1 here: ibankbitcoins.com So what do you guys think? Leave a comment below. My English isn’t great, but I hope the point I am trying to convey make sense. Feel free to check my bitcoin trading blog for live trades and charting. www.ibankbitcoins.com My twitter at @ibankbitcoins

ibankbitcoins

As long as it stays above the yellow and green trendline. I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, www.twitter.com

ibankbitcoins

I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, www.twitter.com

ibankbitcoins

Yesterday was the fucking appetizer, today is the main dump. This is because we briefly breached the triangle supporting trendline yesterday. We will face a new wave of selling from those who sees the triangle breakdown on the daily close. Looks like this one is just dump, and not dump and pump. I do live trades and bitcoin market analysis daily. Follow me on my...

ibankbitcoins

Looking at the 4hr bitcoin chart, the bulls failed to make new intraday high. Each rally is faced with more selling. In addition, I talked about the Eiffel tower pattern that happened when the market went absolutely wild. This is the eiffel tower guide: For my own trading, I haven't traded much just watching this rollercoaster play out. I have been scalping...

ibankbitcoins

Here is the 6month chart of gold vs bitcoin. As you can see, its pretty correlated on a day to day basis. Gold is getting crushed by the strengthening of the dollar because the Fed's announcement of NO QE4 has sparked huge interest in dollars. Many traders have pointed this correlation out in the past. In fact, many holders put their weights as equals! While I...

ibankbitcoins

Market retested the lower support at 1950-2000 on relatively low volume over the weekend; the liquidity was absolutely shit on Halloween day. I was outside (obviously) glancing at the orderbook, 3 points on bitfinex had a bid/ask order of 50 on both sides. I suspect market makers and bots are pushing down prices during this period of time. I am saying this not...

ibankbitcoins

Market broke down from the bear flag yesterday. Currently, it is selling off. I believe we won't be stopping here because there is no prior support at this area. I've highlighted where the market will go. This is in my opinion a strong support area which also coincide with the 2000 CNY round number. I expect a bounce here, but I wouldn't trade it with such a...

ibankbitcoins

Market is currently very choppy with low volumes. We are at pretty strong support at 2120CNY/340USD. This is also the level that rallied higher after repeated pullbacks from the last major bottom. Many asked me why I bought at 340 instead of say 350 or 330 a few days ago. Twitter at 340: twitter.com Now, it is entirely possible we are inside of a bear flag...

ibankbitcoins

From a technical analysis point of view, we stopped right at the previous red support I drew a while back. In addition, previous pullback was also around this area. I think we will chop around this area before continuing. Trend is down so I say we go lower, but I will be on my toes in the case we reverse. Do you guys prefer I do short updates from time to time or...