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Bitcoin technical analysis

  • #6,161
  • Jan 11, 2018 4:24am Jan 11, 2018 4:24am
Again very dangerous situation. If 13000 wont hold, it will be something big. Crooks from wallstreet will push prices on futures to ~5000, and in spring, then goldman and others will build their own software to trade BTC, they will load up full. And now little guys will sufferm as always.
  • #6,162
  • Jan 11, 2018 4:27am Jan 11, 2018 4:27am
Quoting James0205
{quote} Noticed the bullish divergence. I'm waiting for price to breakout above 13.3k~13.9k range.
It is preferable to buy on ...

statistical excesses
(return to the mean)

upon confirmation of a breakline (m30)

P.S.
(entry into Fibonacci ...
... pullback: entry, sl, TP)
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,163
  • Jan 11, 2018 4:28am Jan 11, 2018 4:28am
Just added my short position. This will touch down the lower trend line in a matter of time.
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Practice Makes Perfect
  • #6,164
  • Jan 11, 2018 4:55am Jan 11, 2018 4:55am
Quoting mag00
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
I do not know if there is a correlation between Dax and Bitcoin ...

If so ... the Dax ... I think we are in the second leg of corrective wave 4(b5)

P.S.
waiting for the b5 : 1+2+3co+4+5 = (a propulsive wave) and ...
the C waves: a(c) + b(c) + c(c)

An AbC correction:
a(a) + b(a) + c(a) + b1 + b2 + b3co + b4 + b5 + a(c) + b(c) + c(c)

Inside 4th wave (Composed 3rd wave's: 12345 bull market)
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,165
  • Edited 5:20am Jan 11, 2018 4:58am | Edited 5:20am
Quoting mag00
{quote} I do not know if there is a correlation between Dax and Bitcoin ... If so ... the Dax ... I think we are in the second leg of corrective wave 4(b5) P.S. waiting for the b5 : 1+2+3co+4+5 = (a propulsive wave) and ... the C waves: a(c) + b(c) + c(c) An AbC correction: a(a) + b(a) + c(a) + b1 + b2 + b3co + b4 + b5 + a(c) + b(c) + c(c) Inside 4th wave (Composed 3rd wave's: 12345 bull market)
If so ... (if the analysis is correct)

a little 'down,
then double maximum and ...


P.S.
... then it takes the lows = AbC correction
... in the days to follow
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,166
  • Jan 11, 2018 5:53am Jan 11, 2018 5:53am
I think we continue up from here! Korea FUD will blow over by tomorrow!
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  • #6,167
  • Edited 8:27am Jan 11, 2018 7:46am | Edited 8:27am
Quoting James0205
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
Closed longs @ 13.6k. Gonna wait and see what happens. I'm kinda expecting it to go above 14k

Edit: anyone noticed the hidden bullish divergence on Daily chart?
Live to fight another day
  • #6,168
  • Jan 11, 2018 9:34am Jan 11, 2018 9:34am
https://www.tradingview.com/x/Vjza24xe/

https://www.tradingview.com/x/nRDAoGA5/

Rising channel still in place
I used to be indecisive but now I'm not so sure...
  • #6,169
  • Jan 11, 2018 12:06pm Jan 11, 2018 12:06pm
Ok, very expierenced trader just told me be careful with shorts, now big boys are accumulating long positions. They couldnt get in at 17000, so tehy lowered price to take BTC from startled crowd. So he said to take longs below 13500.
  • #6,170
  • Jan 11, 2018 12:18pm Jan 11, 2018 12:18pm
Quoting vaidas7777
Ok, very expierenced trader just told me be careful with shorts, now big boys are accumulating long positions. They couldnt get in at 17000, so tehy lowered price to take BTC from startled crowd. So he said to take longs below 13500.
How did they lower the price if they couldn't get in?
  • #6,171
  • Jan 11, 2018 12:33pm Jan 11, 2018 12:33pm
they need flat to accumulate, not big candles on daily chart
  • #6,172
  • Jan 11, 2018 12:47pm Jan 11, 2018 12:47pm
Quoting vaidas7777
they need flat to accumulate, not big candles on daily chart
So did the big boys have a significant Bitcoin holding at lower prices? If so, why not unload it even lower and accumulate cheaper?

The volume is pretty low on the futures market so very doubtful short sellers have had any impact.

The price is derived from the unregulated exchanges. Since they're almost all closed for new registrations, it looks like money is draining out of the crypto market. Almost $120 Billion in a week looking at coinmarketcap.com
  • #6,173
  • Jan 11, 2018 12:57pm Jan 11, 2018 12:57pm
Big boys want to load now, and ride to 20000. Look also at fundamentals, cnbc and fox business promoting again btc, ameritrade ceo, jimie dimon, very liitle chance for bear market

In my picture, yeah, lets ride down, but... you see what somebody wants to show for you... Sell your stuff.. But I will take long only when price will break channel, even my friend knows better.
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  • #6,174
  • Jan 11, 2018 3:22pm Jan 11, 2018 3:22pm
Quoting vaidas7777
Big boys want to load now, and ride to 20000. Look also at fundamentals, cnbc and fox business promoting again btc, ameritrade ceo, jimie dimon, very liitle chance for bear market In my picture, yeah, lets ride down, but... you see what somebody wants to show for you... Sell your stuff.. But I will take long only when price will break channel, even my friend knows better. {image}
I agree with the fundamentals but not at these prices. I need Bitcoin to find some solid longer term support, not a 2 hour channel breakout.

Now I may be wrong and we go to the moon from here, but I'm looking to invest at value (ie - support), and not chase momentum.
  • #6,175
  • Jan 11, 2018 5:42pm Jan 11, 2018 5:42pm
Quoting James0205
{quote} Closed longs @ 13.6k. Gonna wait and see what happens. I'm kinda expecting it to go above 14k Edit: anyone noticed the hidden bullish divergence on Daily chart?
Printed 14.2k and went down again after that as expected. Now where will the price go? Looks scary for the bulls the way I'm seeing it
Live to fight another day
  • #6,176
  • Jan 11, 2018 7:27pm Jan 11, 2018 7:27pm
i think BTC will still be going down but i don't know about ETh though. Any opinion on it?
  • #6,177
  • Jan 12, 2018 1:44am Jan 12, 2018 1:44am
Unusually quiet day for bitcoin. Or is the calm before the storm?
Live to fight another day
  • #6,178
  • Jan 12, 2018 2:25am Jan 12, 2018 2:25am
Quoting James0205
Unusually quiet day for bitcoin. Or is the calm before the storm?
I feel its quiet before the storm. It might race up to 16K or 17K today.
  • #6,179
  • Jan 12, 2018 2:37am Jan 12, 2018 2:37am
Quoting honesttrader
{quote} I feel its quiet before the storm. It might race up to 16K or 17K today.
U have open longs currently? Or just waiting to enter? I have shorts open but hedged against more longs. Hmm..
Live to fight another day
  • #6,180
  • Jan 12, 2018 3:30am Jan 12, 2018 3:30am
I am stretching my imagination too far...? time will tell. IMHO, Potential bullish deep crab in the making
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It is not over until I win
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