K155MY4R53

K155MY4R53 Updated 

I know I'm not the first person to point out this relationship but I think it warrants another mention following the price action that we've been seeing. Following our breakdown from 8500 USD, we entered a downtrend. 7500 USD acted strong support and we went on to bounce off it ~3 times. Now, I think the fourth bounce would have been fatal for the bulls as it...

K155MY4R53 Updated 

After about 6 months in the doldrums, the bulls have recently broken critical long term resistance and can look forward to the greener pastures on the horizon. There's a rising wedge to navigate in the short term and there's a good chance we'll need to test the support at 5,755USD. However, looking beyond that, I think we're going to see some medium to long term...

K155MY4R53

Indicators confirm the breakdown and the target is reinforced by the downward channel that we appear to be in.

K155MY4R53

Have we been here before? I overlayed the fractal of the 2013-2014 peak to see if there was any resemblance and there is some. Looking at the RSI, we seem to have crouching bear and hidden bull, which is quite confusing. The RSI does seem to be in a downtrend though and so I wouldn't be surprised if we made some meaty retracements in the medium term. In the...

K155MY4R53

I just came across this in passing and thought that I'd make a quick idea out of it. The chart is fairly self explanatory. All that I would note is that the pattern hasn't been confirmed yet but could be worth keeping your eye out for.

K155MY4R53

I'm not going to make a call either way on this one but we should be able to clearly see the choice that is made within the next few days. The price has returned to that orange resistance trendline that forced it out of its purple channel late last year. On the RSI, we can see that the orange resistance trendline is potentially going to be broken. Failing that, a...

K155MY4R53

First decent pattern I've been able to spot for a while in Buttcoin. Indicators are winding up, ready for some action. The target is an initial suggestion but I'll be looking to move it further down if the price picks up bearish momentum.

K155MY4R53

Recently, we seem to repeating the same old pattern of bouncing off a new low before easing back towards it and breaking it. The green fractal is the daily and each fractal includes the prior descent and the subsequent new low reached. You can see where the red and yellow fractals have come from and the purple fractal is the one that we're currently playing out....

K155MY4R53

The descending triangle in my last publish broke down as expected and now we've rallied to just below the nuclear resistance that took the bears over a fortnight to break when it was support. Price seems to be getting rejected as expected and there's a double top and bear divs on lower time scales. Indicators look like they're topping out as well. A nice tight...

K155MY4R53

I used the wrong trendlines when I first published this triangle. Proof that I'm not just reneging on my previous forecast can be found in the chart before it, which shows that I did expect the price to break the trendline that has now been broken. I've also decided to give a more zoomed in view of what to expect as well as trying to make clear what I'm seeing in...

K155MY4R53

My previous forecast seems to be playing out well and this is what the end result will look like on a longer timeframe. It's fairly simple: we appear to be in a sort of descending triangle and I think we're going to fall out of the bottom in a big way. The region of support that we're sitting on is incredibly strong and has fended off numerous attempts at a break...

K155MY4R53

Here's the script. Been drawing it for about ten minutes and it's already being followed so you know it's 100% accurate. Seriously though, inverse maddies, short squeezes, dumps on rallies, fake ups...this zone is just rinse and repeat and it won't stop until we leave it. Personally, I'm don't think I'm going to be taking any positions until we leave this range....

K155MY4R53

I haven't been publishing lately because this area has been incredibly difficult to navigate with short sqeezes, fakeouts and everything else that makes Bitcoin Bitcoin. Therefore, I've had a look at some of the longer timeframes and the story is interesting. As you can see here, there is some serious convergence of indicators. We've been hovering around this...

K155MY4R53

Update: This one didn't pan out as expected. I spotted the bull div on the 4H only after publishing this and so that was ignorance on my part. Ideally, a dynamic stop-loss would be set on that purple trendline. A long position on the break of that would have made you a nice quick profit. I hope you all had a profitable Christmas and best wishes for the New Year....

K155MY4R53

Update: This trade worked out perfectly and netted a lovely 100CNY drop (-4.56%). Of course, you could have held on for much greater profits. With the original trade, however, just multiply the percentage drop by your preferred magnitude of leverage and you have your percentage profit; with 20x, this trade roughly doubled your money. Holding on until the bottom...

K155MY4R53

I don't think nearly enough selling has happened since breaking out of the mid-term channel. Some good support around 343usd (Bitfinex) has led to a pennant forming and I think the bounce will turn out to be a dead cat that wants to fall further. Indicators are winding up for the move as well. Let's wait and see.

K155MY4R53

The price is currently 374.26 USD/BTC on Bitstamp. The dump two days ago caused the RSI to drop another level but yesterday's recovery took it just just high enough to give the impression of a sound recovery. Again, today is critical. Momentum is right at the top of its converging channel and RSI is leaning on that already broken support. Unless there's a breakout...

K155MY4R53

Yesterday's action caused the second RSI gradient to be broken. I think today will be important in deciding whether the price bounces back or just has a breather before taking the plunge.