orangemango

orangemango

We have seen quite some bearish sentiment out there. With the last rally bitcoin came back up quite good, but I still think the bottom is not in. Using the elliott waves, I would say that this is wave 4 and I expect it to go down again, though I am not sure if wave 4 is finished yet. Wave 3 is known to be the longest and there we have seen the big drop so this...

orangemango

After a long uptrend of many years we exited the uptrend channel and event went under the 200 MA. This year started with a rally back to this level, but now it seems like that we flipped support into resistance. More downside is expected

orangemango

What a nice breakout on BTC following some altcoin breakouts (especially LTC was leading the field). Signals that lead to this breakout: * BTC left the downtrending channel * An ascending triangle pattern formed * RSI bullish divergence * Volume getting lower and lower. Low volume is often an indicator for a breakout (either down or up) Next things to look...

orangemango

If BTC continues to respect the current uptrend we have good chances to go up to 6900. This idea is very experimental and uses the 0.618 and 1.618 to determine the price movement of an uptrend and the corrections. I am very curious how this plays out. It would be a very clean uptrend if it works out.

orangemango

In times of a clearly downtrending market always remember the big picture in what we are in. We had fast and wild ride down since the 5.Sep, so a bounce could easily happen. After that I except it to go down again and at some point reach the bigger timeframe trendline. This idea was inspired by @TheCryptoFam and is very similiar. Thanks.

orangemango Updated 

In the last two weeks Bitcoin was stuck in the trading range from 5800 to 6600. Yesterday the bulls made a big move and broke the heavy resistance at 6600. Because this resistance was very strong, I expect a continuation of this breakout. So the next level to watch is 7200. A break below 6500 would invalidate the bullish view and the situation must be reevaluated....

orangemango

BTC did bounce on the 0.618 fib retracement level. This is also where it meets the previous trend line where it broke out on the 23.07.2018. Because there is a lack of volume on this bounce I expect it go down a bit lower. Then we must see if big volume is coming in. Be prepared.

orangemango

What will ETH do? 1) Stay inside the channel, this would probably cause a comeback of the alts. 2) Break to the downside, this would cause more pain for eth and probably the other alts

orangemango Updated 

We are right at the next resistence. There is horizontal resistence and trend line resistence here. On the daily the RSI is at the same level as the last rally end of april (24th April). The 4h does not look good, we have a higher price but the RSI is lower than after the pump (17th July). If we are able to consolidate here this would be very bullish. For now the...

orangemango Updated 

After the big move over more than 10% it is good to see that BTC consolidates now. We also see that this move perfectly touched the box. Now it is time to be patient and wait if BTC forms a bull flag. The volume is declining, so that is a good sign for now. If the price goes lower than 7200 then this bull flag is invalidated and then we may go lower. Trade at...

orangemango Updated 

Last week we went down again, but the downward moved stopped at the levels of the right shoulder and now we are going up again. So the inverse H&S could play out. The level between 6.7 and 6.8k must be watched carefully. If we fail to break through that level we go down again, and probably to new lows. If not, we get a nice rally to the top of the downtrending...

orangemango Updated 

We are moving inside a downtrend channel. The last reversal was with good volume and the current pullback is healthy. During July I expect some more upside. Trade at your own risk. Trade wisely. Disclaimer: I am pretty new to trading and try to improve my skills by documenting my decisions.