Crypto Short

End of Feb 2018 Bitcoin showed a remarkable recovery since the beginning of Feb 2018. Yesterday's post focused on the rising limb of the on-going trend starting from the 1st week of Feb. Today, I will focus on upcoming resistance level i.e. 11000 and the formation of cup and handle pattern. The key resistance i.e. 11000 was breached only once whereas, 10800 resistance was touched several times. A strong and comprehensive break out is a must to consider the current trend as bullish. This will confirm the EMA cross overs as well that I indicated earlier. This is only possible if the current observation, posted yesterday, remains valid i.e. a cup and a handle pattern. As indicated yesterday - the price targets such as a bearish momentum on this scale - 10300 has to be breached significantly below the set Fib 0.786 level & the price has to trade around 10500 or 10600, which was the case through out the day.  Now we only need to confirm whether BTC will breach thr...

Feb 27, 2018 Update Finding Rhythm Bitcoin is finding its rhythm, which has not yet been lost. Importantly, it is at the verge of a major break through since Feb 24, 2018. Although it has broken through Fib 0.786 level on 1H chart and still holds around it. MACD on 25/50hr scale remains higher and people might be interested to short at this level and see Fib 0.618, which is apparent at this moment. MACD and STOCH-RSI at a short-term scale as well as on a week scale suggest a pullback.  Apparently the cross at TEMA/EMA 720H suggests the continuation of a narrow bullish cycle while the distance between these to is enlarging. Key Patterns 1H - Engulfing bearish and Doji Star Possible Trade Hourly RSI 61.419, STOCHRSI is oversold, & William %R is overbought. EMA200 remains 10104 whereas EMA50 remains at 10315. Short Range: 10700 - 10300 (SL Fib R3 10860) Long Range: 10700 - 11769 (Fib 1.0) Verdict Perhaps one should refrain from trading and entering...

The R-S Junction Bitcoin has seen several lower highs and lower lows during the continuation of the current bearish market since Dec 17. Future prediction is a pain in crypto market. However, we have seen some cases in past, which may assist in predicting the future of BTC. Here is another way to look at between ATH and ATL since Dec 17 and forecast the future. I define the R-S junction as a point where the resistance and support meet together and a new deflection in trend happens. Historical anchor points: S1a - First major support level @5422 S1b - Second support level @9202 R1a - ATH1; First major resistance level @19888 R1a - ATH2; Second major resistance level @17285 The junction that has been seen between Feb 21-22 clearly shows a trend reversal to bearish market. Should the market set another long-term Bearish Trend, we need to see MA/EMA cross-over. The cross-over of Feb 21 clearly indicates a trend reversal and the establishment of a bullish cycle . Th...