mytorc

mytorc Updated 

Short osculating correction down to $6560 before resumption of bull run to next all time high around $8000 where it again touches the top of the 2017 bullish channel (shown in blue here). So: LONG immediate term (trading bearish channel swings) SHORT short term down to $6560. LONG medium term up to $8000.

mytorc Updated 

Up or down hard to tell - mixed signals. BTC above bearish trendline - but only barely - rise lacks momentum but remains stubbornly bullish so it could continue. However, all previous major consolidations have always bottomed out at the bottom of the main up channel - which this one has yet to do. Plus bearish divergence persists on 4H - so a retest of $3000...

mytorc Updated 

Probably a small drop further yet - but bullish RSI divergence now evident on 4hr and shorter time-frame charts. Current bottom nearing? Followed by small rise and after that who knows further correction of the daily and weekly chart still possible prior to next major bull run - best stay sharp...

mytorc

On the 45 min or shorter time frame charts RSI shows pronounced negative reversal indicating support at EUR 3450 to be retested and may not hold? BTCUSD charts however don't show this - so the picture seems unclear. Any thoughts anyone?

mytorc

Not sure that BTCUSD is out of the woods yet and ready for its next target of $4500+ RSI appears to be struggling - a lot of movement for relatively small price gains and consequently divergence already beginning to show against some previous highs (albeit still limited). LONG if price breaks the upper bound of the orange downward channel AND is confirmed by...

mytorc

Further to my earlier chart (see Related ideas) On the 4hr chart price makes higher low while RSI makes lower low = bullish trend correction Therefore resumption of strong bull run likely soon?

mytorc

BTCUSD seems to love following channels and repeating patterns - so here's an idea combining both A bearish break below the orange channel and sustained below the outer grey channel would indicate early failure Otherwise possible steep rise to $6000+ after the orange channel hits the outer grey bullish prevailing trend channel (around $4200). Just as it did on Aug 2nd...

mytorc

Strong RSI divergence on the 1hr chart indicating likely reversal of this short term price correction. If so and past pasterns repeat then perhaps one more leg down first before the reversal kicks in Which would bring price near to the bottom of the green channel around $3850

mytorc

The 4hr RSI has made a lower low and price a higher low Does this indicate likely bullish trend resumption or will the correction continue down to the bottom of the middle (green) upward channel as it did on Aug 2nd - this time around EUR $3200 (or on BTCUSD to around $3850)?

mytorc

Price fluctuations appear contained within a bullish triangle culminating on Aug 1st On this basis think its unlikely price will fall much below $2600 - though the chance to top up with cheaper coins would be welcome! After Aug 1st who knows? But if fundamentals stay sound then the prevailing trend remains bullish - reinforced by relieved anxiety price could...

mytorc

Charts (3hrs and shorter) showing apparent bullish RSI divergence. Is the bottom in already?

mytorc Updated 

If identified price and RSI fractals repeats price drops to 2530 then 2330 expected.