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: The Golden Ratio

The price movement of BTC has several highs and lows. Timing the future is often unrealistic and many investors, who don't know math very well, stay away from a technical analysis. Often they totally ignore the power that such analysis may bring. Here is an example of BTC from Dec 2017 to March 2018. BTC is in fact following the golden ratio. If we would have known this before, we would be have been trading more effectively than we did in past. You can recreate such a map in your platform and then trace ahead the expected swings. I would advice to consider 5-10% error always due to news. As soon as this golden rule is broken like 15% error, you don't trade with this. While I am waiting for a breakout at 11.8, I thought to share this idea. Crypto Short
Post a Comment
Read more

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

Bitcoin at 6K - Fourth time and again Price-Volume Aren't in Sync

This is the fourth time bitcoin is touching the 6K and has developed a near 5800 bottom. The price had a free-fall from 8500. However, when it came down to the 6K support, it behaved like it is close to a gravitational pull. Instead, it slows down. Take a look at the price and volume actions. Especially, the OBV and PVT. Both hold a key when it comes to the reversal pattern recoginition. When every one is bearish, you need to look at some out-of-box tools or utilities that can help you in defining a position. When we touch the support 4th time, it simply means that the support is weak. However, this doesn't mean that a rally cannot begin. Every one expects the bitcoin to reach 2K so that it comes a good buy. Ask yourself, will you buy it? Most probably not. Here is a capture of some key divergences: Regular Bullish Divergence against RSI OBV - Hidden Bullish Divergence Regular Bullish Divergence against PVT With these divergences in-hand one should think about accumul...
Post a Comment
Read more