Skip to main content

Bitcoin: Awaiting Long Entry Below 9000ish


SMA100 forms the top resistance, which is with time growing and becoming a mammoth target.

SMA200 holds; median line of the set pitch form i.e. 0.5 also holds and aligns with SMA200.

In coming 20hrs, SMA200 support may get retested (@8860). MACD is still entering the buying zone.

Bearish continuation until a rebound above 8860. If breached, very likely, next test will be 6k previously called as provisional bottom.


A closeup view of the chart. Notice that we are still away from the subjective fib time zone prediction, which is about 4bars/16hr away for a swing or change in trend. Typically, this fib time zone extension has been helping to time the price swing in short-term trading. We shall discard this when it becomes unpredictable.


Comments

  1. Crypto ShortMarch 9, 2018 at 11:42 AM

    While this entry is still on waiting, see my next post on timing a Bitcoin swing event.

    ReplyDelete

Post a Comment

Popular posts from this blog

Bitcoin (March 18-30): Integrated Gann Fan Analysis & Trades

https://invst.ly/6-gn0 In this chart you can clearly see how the time & price are related when the fall happens in early Gann angles (1/8 to 1/2) & then the price pulls back as a bear flag & then takes time until it reaches the Gann 1/1 (45deg angle). That severs as a resistance and the price moves along this line until it completes the correction cycle i.e. ABC. Then the price breaks out and results in a swing i.e. bull run since it is over 45 degrees & chances are greater that BTC will either move sideways or do a bull run. Based on this, I decided to go long.
Post a Comment
Read more

Timing a Bitcoin Event

Here are some screenshots for timing a bitcoin event: I used Fibonacci Time Zone to predict a price swing. As the time stretches, the prediction may go less certain since news, trends, and market holds change, a point where you throw away the old trend curve and place a new one as per new set trend. Note:  Fibonacci time prediction is only used to locate a time with +/- relative error for a price swing. It doesn't tell what type of swing do you expect. That should be done by balancing  this observation with other technical parameters. Proven Bitcoin Major Trend Reversal (1D) Here are my predictions for timing BTC swings. The image below is a capture of March 7 event where a major price swing may happen. See the subsequent chart for confirmation & what happens next. Tip: To look at these charts, follow the vertical blue lines, which point a major price swing around (+/-1 day). As the time progresses, the error increases. Minor Trend Reversal ...
1 comment
Read more

Bitcoin Arrives at the Next Swing Zone (Oct 18): A Major Move with 6 Months Long Trend Ahead

Throughout the year, I have been following just one Fibonacci time zone prediction that worked very well. Whenever BTC arrived closer to these zones, something has to happen for some reasons: (a) Previous trend was losing steam (b) Extended cosolidation June 24 was the best example though when BTC closed below support (6K) & recovered in the following day. Thus, the swing zone prediction worked very well and the declining trend put a rally that gave significant profits. The rally failed an till Oct 18, the zone held the support & never closed above 6135 (on GDAX). If you see my previous analysis, whenever BTC lands on the support, I kept on finding evidences of volume/momentum divergences. What do we see now is that BTC holds the support with regular and hidden divergences against the volume and momentum indicators. Recent events, drop on Oct 11 to 6135 & breakout on Oct 15 of 6800 both turned fake. Here is a chart annotating the four fake drops, which held the ...
Post a Comment
Read more