Price action, volume, it all looks quite good to me... the problem is, bid side is depleting rapidly (stamp and finex), which makes me wonder how long this one will last.
Any thoughts on that, luc?
I don't have idea what is "bid side" in TA. |
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Seriously - Bitcoin is at top of a weekly bollinger band. If it stay here for few days - new short term bubble will start.
We need to break the Bollinger band, or we will just see a Bollinger bounce and head back down to the middle. I said earlier, with current weekly BB configuration it will likely to expand rather than to be an unbreakable wall. |
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Seriously - Bitcoin is at top of a weekly bollinger band. If it stay here for few days - new short term bubble will start.
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Luc, what do you predict the next ATH to be ?
Big. 1200 may be compared to final ATH in final wave like 31.2 compared to 1200. But it should be in up to 7-10 years. |
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masterluc, what do you think of DanV's alternate count that still calls for a lower low to complete the eight wave cycle properly? Well I don't except, but think it has smaller odds because all my time projections had been passed. His count will require 2-4 years of revisiting lows and trying to break out. That is too much time for wave two I think. Additionally I have one more "iron" indicator now - weekly sma200, which is appeared not too much time ago. And I don't think it will surrender. If it will then we will see bear epoch. |
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3 (Weekly sma20)
2 (Daily sma200)
1 (Log trendline)
... and lift off, Bitcoin the worlds first digital currency starts to its historical wave three to be in next comming years!
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On breakout of current log downtrend I will consider this count to be activated (historical III running). You all know what means elliott wave number 3... 
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You all talk here about paper gold... Like it is real gold, while it is not.
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But never seen before weekly ma200 is not gonna surrender  |
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But keep in mind there are two major resistances ahead - daily ma200 and log trend line   |
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I think this is bullish. For the 1st time since almost year price got into weeklly bb positive zone  |
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Greece will not leave (nor get kicked out of) EU yet.
But IF that WOULD happen, I expect that Euro will also get hurt a lot. And not only me will expect that.
The result will be that Bitcoin and USD will gain quite some %.
USD may get a gain OR Bitcoin may get. But not both at a time - they are opposite. |
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I agree that previous 150 bottom looks like completed zigzag correction.
But while weekly sma20, daily sma200 and long term trendline resides upside - it is bearish trend.
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SMA200 not broken, long term log trend not broken.
Just got emergency alert from my FX broker. 29 June greece will likely to default, extreme EURUSD and other pairs volatility and lack of liquidity expected.
I seat and think what it may mean to bitcoin. It is on verge of trendline. Will it break it up or will it collapse?
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ma200 is here, correction overdue. And if it is, there are new hidden divergences.  |
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The undertones here sound bullish.
Undertones are confusing. From one side I see great harm for further bearish development with this impulse. From other I don't believe it will just blow up daily 200 sma (and log downtrend somewhere there) from 1st strike, while sma is near. |
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So here is another field full of resistances - fighting for breakout.
If the breakout of log downtrend is confirmed, could it become one possible scenario that the price reach the upper weekly BB and back to weekly sma20 for a long silence period? Weekly bands are tiny and flat enough for price to expand them (in either way). They are neither falling or rising - they are flat. Falling upper band usually very strong resistance (or rising bottom band is support) for price and it bounces back to sma20. It was those days, but today's picture is different. It doesn't mean band is not resistance at all. It is more ready to expand than earlier. |
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Price reminded to drop and tries to return to escape channel  Also it attempts to return to positive weekly bb range  Daily 200 sma is here  So here is another field full of resistances - fighting for breakout. |
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