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Bitcoin technical analysis

  • #6,141
  • Jan 10, 2018 4:06am Jan 10, 2018 4:06am
even after breaking through 16000, Bitcoin couldn't continue this movement
  • #6,142
  • Jan 10, 2018 5:24am Jan 10, 2018 5:24am
Quoting karasinga
{quote} IN my humble opinion {image}
I re-entered with 2 new longs @ 134xx and 135xx. Targeting 145xx and 146xx. Let's see.

Price @ time of posting : 137xx
Live to fight another day
  • #6,143
  • Jan 10, 2018 8:35am Jan 10, 2018 8:35am
Quoting James0205
{quote} I re-entered with 2 new longs @ 134xx and 135xx. Targeting 145xx and 146xx. Let's see. Price @ time of posting : 137xx
your trades might be profitable but I prefer not fighting the trend. "...make trend your friend...". we might see 12k print anytime. best wishes
It is not over until I win
  • #6,144
  • Jan 10, 2018 10:02am Jan 10, 2018 10:02am
Quoting karasinga
{quote} your trades might be profitable but I prefer not fighting the trend. "...make trend your friend...". we might see 12k print anytime. best wishes
y do u feel that it will come down to 12K? why not 16K from 14.6K?
  • #6,145
  • Jan 10, 2018 11:17am Jan 10, 2018 11:17am
It's still overbought and really needs to find proper support which is down at $8,000 - $5,000.

That could take another couple of months.
  • #6,146
  • Jan 10, 2018 11:41am Jan 10, 2018 11:41am
Quoting C-12
It's still overbought and really needs to find proper support which is down at $8,000 - $5,000. That could take another couple of months.
I agree, mean while a lot of the newbie speculators are so burnt and will not return
  • #6,147
  • Jan 10, 2018 12:02pm Jan 10, 2018 12:02pm
Quoting Coffeebuff
{quote} I agree, mean while a lot of the newbie speculators are so burnt and will not return
Yeah, the entire crypto market needs a good flush out and a fresh accumulation cycle to form. It needs to go off radar for a while.

Almost everyone I know has been pumping it, even people who have no clue about trading or the financial markets.

Look at the monthly silver chart. That's what I'd like to see the weekly Bitcoin daily chart look like in a few months.
  • #6,148
  • Jan 10, 2018 4:00pm Jan 10, 2018 4:00pm
Quoting C-12
{quote} Yeah, the entire crypto market needs a good flush out and a fresh accumulation cycle to form. It needs to go off radar for a while. Almost everyone I know has been pumping it, even people who have no clue about trading or the financial markets. Look at the monthly silver chart. That's what I'd like to see the weekly Bitcoin daily chart look like in a few months.
We are defiantly on the same page there and I have not gone in for a close look yet, just for brain food I would though, are there brokers offering demo accounts that list all these newbies, you are in London, my home town is ChCh, I see the is a new flourishing business there which is in the middle of all this, small world isn't it.
  • #6,149
  • Jan 10, 2018 5:18pm Jan 10, 2018 5:18pm
Quoting James0205
{quote} I re-entered with 2 new longs @ 134xx and 135xx. Targeting 145xx and 146xx. Let's see. Price @ time of posting : 137xx
Targets printed. Staying at the sidelines once again.

@ Karasinga, I'm not against the trend, I'm simply swing trading it, I'm still waiting for this wave to print 12k or lower but I don't think it will yet without some correction after it just broke the 13k mark.

P/S is it going to happen soon? today and tomorrow will be important IMHO.
Live to fight another day
  • #6,150
  • Jan 10, 2018 9:32pm Jan 10, 2018 9:32pm
-7% early drop in Asian Session.. scary for the bulls
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 92 KB
Practice Makes Perfect
  • #6,151
  • Jan 10, 2018 10:25pm Jan 10, 2018 10:25pm
reason for bitcoins fall https://www.forexfactory.com/news.php?do=news&id=729309
  • #6,152
  • Jan 10, 2018 10:37pm Jan 10, 2018 10:37pm
min target done... a little retrace maybe or 12,000 today and 10,400 some other day.
Attached Image (click to enlarge)
Click to Enlarge Name: btc minimal tgt.png Size: 22 KB
Nothing stands in the way of a person's will -THE MYSTICS
  • #6,153
  • Jan 11, 2018 2:12am Jan 11, 2018 2:12am
After breaking down to 12.5k, I'm in again on the long. Not too sure whether the week's lowest had been printed, I was actually expected it to break 12k down to 11.xk. In case the week's lowest already printed, we might see a bull charge to possibly 17k as what our Elliot guru, Mag00 is waiting? @Mag00
Live to fight another day
  • #6,154
  • Edited 4:22am Jan 11, 2018 2:45am | Edited 4:22am
Thinking of waves means ...
thinking of a (trading)plan
(entry, sl=be, TP)


Otherwise it is preferable to enter on divergences (break of trendlines) or ...
on statistical excesses ...


P.S.
(on market confirmation ...)
in h4
there is a break of ma200
a blue arrow
no divergence from 60 bars
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,155
  • Jan 11, 2018 3:12am Jan 11, 2018 3:12am
Quoting mag00
Thinking of waves means ... thinking of a plane (entry, sl=be, TP) Otherwise it is preferable to enter on divergences (break of trendlines) or ... on statistical excesses ... P.S. (on market confirmation ...) in h4 there is a break of ma200
What would be your TP now? its 13575
  • #6,156
  • Jan 11, 2018 3:16am Jan 11, 2018 3:16am
Quoting mag00
Thinking of waves means ... thinking of a plane (entry, sl=be, TP) Otherwise it is preferable to enter on divergences (break of trendlines) or ... on statistical excesses ... P.S. (on market confirmation ...) in h4 there is a break of ma200 a blue arrow no divergence from 60 bars
So the question now is.. is it going to rebound after breaking ma200?
Live to fight another day
  • #6,157
  • Jan 11, 2018 3:25am Jan 11, 2018 3:25am
Quoting mag00
Thinking of waves means ... thinking of a plane (entry, sl=be, TP) Otherwise it is preferable to enter on divergences (break of trendlines) or ... on statistical excesses ... P.S. (on market confirmation ...) in h4 there is a break of ma200 a blue arrow no divergence from 60 bars
All depends on the timeframe where you operate ...
... and what strategy do you ... use
(plan on the major, enter the minor)

P.S.
otherwise ...
breaklines,
divergences and
excesses
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,158
  • Jan 11, 2018 3:28am Jan 11, 2018 3:28am
Quoting mag00
{quote} All depends on the timeframe where you operate ... ... and what strategy do you ... use (plan on the major, enter the minor) P.S. otherwise ... breaklines, divergences and excesses
Btc (m30)

this is an example of what ...
the market offers ...

P.S.
otherwise ...
breaklines,
divergences and
excesses
Attached Image (click to enlarge)
Click to Enlarge Name: Btc (m30).png Size: 54 KB
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,159
  • Jan 11, 2018 3:32am Jan 11, 2018 3:32am
Quoting mag00
{quote} Btc (m30) this is an example of what ... the market offers ... P.S. otherwise ... breaklines, divergences and excesses {image}
I expect more blue arrows
(after the red ones)
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,160
  • Jan 11, 2018 4:22am Jan 11, 2018 4:22am
Quoting mag00
{quote} Btc (m30) this is an example of what ... the market offers ... P.S. otherwise ... breaklines, divergences and excesses {image}
Noticed the bullish divergence. I'm waiting for price to breakout above 13.3k~13.9k range.
Live to fight another day
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