PnF TA

[macsga]

Klee don't be so angry.  It doesn't fit to you.

Deep down in his heart he's a mean angry bear...




 

[1715641739]

1715641739

[1715641739]

1715641739

[klee]

Klee don't be so angry.  It doesn't fit to you.

Deep down in his heart he's a mean angry bear...




 

Bear for the ghost that Bitcoin became of it's real self.

[ask]

Klee don't be so angry.  It doesn't fit to you.

Bulls make me angry because they are just talking but you are right!

Have to calm down despite I think this is very crucial timing for Bitcoin.

I really hope that price will go down.  Under 350$ at least.  All these longs should be tested and many of them squeezed.

Bitcoin needs blood.

[klee]

Klee don't be so angry.  It doesn't fit to you.

Bulls make me angry because they are just talking but you are right!

Have to calm down despite I think this is very crucial timing for Bitcoin.

I really hope that price will go down.  Under 350$ at least.  All these longs should be tested and many of them squeezed.

Bitcoin needs blood.

This.
Easy money eh? Not gonna happen people....

[klee]

http://fortune.com/2016/05/15/leaderless-blockchain-vc-fund/
http://www.wsj.com/articles/chiefless-company-rakes-in-more-than-100-million-1463399393

[macsga]

Props to be given where they belong: Congrats Klee for predicting 2hrs ago the ETH pump.

[klee]

Props to be given where they belong: Congrats Klee for predicting 2hrs ago the ETH pump.

The news was the catalyst - I was expecting it because it hit (and reconfirmed) a very strong support:






Am I the first one who have noticed (a couple of weeks ago) how it is the same pattern as in BTC & LTC?

[klee]

BTW, I interpret from my charts (there is always room for subjectivity in TA, even in PnF) that Toddcoin will go South.

Worst case scenario 262, best case 390.

No idea where it will stop.

Bear trend (short/medium/long term) if 350-

[T.Stuart]

Been lurking a while. Always appreciated your stuff Klee.

Have to say though, your out-of-character outbursts yesterday speak volumes mostly about your own position. I already guessed you are partly banking on the inverse price relationship between BTC / ETH.

They have also made me feel more bullish about BTC than I've felt in a while. Although I should say my previous bullish timing on Bitcoin was... off the mark, to say the least.

I reckon there may now be room for both BTC and ETH to grow in parallel. The inverse price relationship is a tenuous phenomenon not based on anything fundamental.

[klee]

Been lurking a while. Always appreciated your stuff Klee.

Have to say though, your out-of-character outbursts yesterday speak volumes mostly about your own position. I already guessed you are partly banking on the inverse price relationship between BTC / ETH.

They have also made me feel more bullish about BTC than I've felt in a while. Although I should say my previous bullish timing on Bitcoin was... off the mark, to say the least.

I reckon there may now be room for both BTC and ETH to grow in parallel. The inverse price relationship is a tenuous phenomenon not based on anything fundamental.

My outburst was exactly because the ideal is BTCUSD to rally while ALTBTC rallies too!

If BTC dooms it will cause me an enormous amount of stress even if ETHUSD rallies.

It is because I saw BTC topped while ETH bottomed that made me take this position in the first place though.

3000 is a distribution area, whales alone will not break it, we need massive volume from everyday people.
I don't see this to be honest.

Finally, I got very emotional for BTC because IMO a failure here, combined with the halving, can be far more devastating than most think...

[RyNinDaCleM]

Been lurking a while. Always appreciated your stuff Klee.

Have to say though, your out-of-character outbursts yesterday speak volumes mostly about your own position. I already guessed you are partly banking on the inverse price relationship between BTC / ETH.

They have also made me feel more bullish about BTC than I've felt in a while. Although I should say my previous bullish timing on Bitcoin was... off the mark, to say the least.

I reckon there may now be room for both BTC and ETH to grow in parallel. The inverse price relationship is a tenuous phenomenon not based on anything fundamental.

My outburst was exactly because the ideal is BTCUSD to rally while ALTBTC rallies too!

If BTC dooms it will cause me an enormous amount of stress even if ETHUSD rallies.

It is because I saw BTC topped while ETH bottomed that made me take this position in the first place though.

3000 is a distribution area, whales alone will not break it, we need massive volume from everyday people.
I don't see this to be honest.

Finally, I got very emotional for BTC because IMO a failure here, combined with the halving, can be far more devastating than most think...

I think the inverse relationship between eth and btc is a strong correlation for now. Alts will parallel btc when btc hits a true bull market, and imo, only after significant gains are achieved in btc. This is due to veteran crypto holders moving into btc during the bull run and thereby suppressing eth (and alts in general) initially. Then, when the rally is well ingrained, and the price is out of reach in late comers minds, they pour into alts, triggering the flip on correlation and alts rally in parallel. This is what happened with ltc in 2013 and to lesser extent, other alts like namecoin and such.
I have fully mirrored my BTC trades with my eth trades for the last few months, and with the exception of a few trades, it has worked out as well as some FX correlations. I will continue to make trades like this for the foreseeable future as I still do not believe this is the bull run

edit: I think the inverse correlation is simply whales capitalizing on the slosh of the markets right now. Btc up, sell eth to gain on BTC rises. Dump BTC and enter to catch ETH rises. Rinse and repeat.

[klee]

Been lurking a while. Always appreciated your stuff Klee.

Have to say though, your out-of-character outbursts yesterday speak volumes mostly about your own position. I already guessed you are partly banking on the inverse price relationship between BTC / ETH.

They have also made me feel more bullish about BTC than I've felt in a while. Although I should say my previous bullish timing on Bitcoin was... off the mark, to say the least.

I reckon there may now be room for both BTC and ETH to grow in parallel. The inverse price relationship is a tenuous phenomenon not based on anything fundamental.

My outburst was exactly because the ideal is BTCUSD to rally while ALTBTC rallies too!

If BTC dooms it will cause me an enormous amount of stress even if ETHUSD rallies.

It is because I saw BTC topped while ETH bottomed that made me take this position in the first place though.

3000 is a distribution area, whales alone will not break it, we need massive volume from everyday people.
I don't see this to be honest.

Finally, I got very emotional for BTC because IMO a failure here, combined with the halving, can be far more devastating than most think...

I think the inverse relationship between eth and btc is a strong correlation for now. Alts will parallel btc when btc hits a true bull market, and imo, only after significant gains are achieved in btc. This is due to veteran crypto holders moving into btc during the bull run and thereby suppressing eth (and alts in general) initially. Then, when the rally is well ingrained, and the price is out of reach in late comers minds, they pour into alts, triggering the flip on correlation and alts rally in parallel. This is what happened with ltc in 2013 and to lesser extent, other alts like namecoin and such.
I have fully mirrored my BTC trades with my eth trades for the last few months, and with the exception of a few trades, it has worked out as well as some FX correlations. I will continue to make trades like this for the foreseeable future as I still do not believe this is the bull run

Agree in all!

Actually now the killer pair is LTCETH!

[macsga]

Been lurking a while. Always appreciated your stuff Klee.

Have to say though, your out-of-character outbursts yesterday speak volumes mostly about your own position. I already guessed you are partly banking on the inverse price relationship between BTC / ETH.

They have also made me feel more bullish about BTC than I've felt in a while. Although I should say my previous bullish timing on Bitcoin was... off the mark, to say the least.

I reckon there may now be room for both BTC and ETH to grow in parallel. The inverse price relationship is a tenuous phenomenon not based on anything fundamental.

My outburst was exactly because the ideal is BTCUSD to rally while ALTBTC rallies too!

If BTC dooms it will cause me an enormous amount of stress even if ETHUSD rallies.

It is because I saw BTC topped while ETH bottomed that made me take this position in the first place though.

3000 is a distribution area, whales alone will not break it, we need massive volume from everyday people.
I don't see this to be honest.

Finally, I got very emotional for BTC because IMO a failure here, combined with the halving, can be far more devastating than most think...

I think the inverse relationship between eth and btc is a strong correlation for now. Alts will parallel btc when btc hits a true bull market, and imo, only after significant gains are achieved in btc. This is due to veteran crypto holders moving into btc during the bull run and thereby suppressing eth (and alts in general) initially. Then, when the rally is well ingrained, and the price is out of reach in late comers minds, they pour into alts, triggering the flip on correlation and alts rally in parallel. This is what happened with ltc in 2013 and to lesser extent, other alts like namecoin and such.
I have fully mirrored my BTC trades with my eth trades for the last few months, and with the exception of a few trades, it has worked out as well as some FX correlations. I will continue to make trades like this for the foreseeable future as I still do not believe this is the bull run

Agree in all!

Actually now the killer pair is LTCETH!

+1 from me.
Thanks for sharing your thoughts.
@Klee: yes, LTC is a nice alternative to ETH when the later is down and ETH is a nice alternative to LTC when LTC is down. Unfortunately, this requires 24/7 in front of a computer which at the moment is a luxury I don't have...

[klee]

https://www.tradingview.com/chart/BTCCNY/MXPZGI2X-CryptXO-Analysis-for-Huobi-BTCCNY/

[T.Stuart]

Perhaps, rather than grow together... they can go down together. 

In the case of a genuine BTC dump, it seems too good to be true that ETH will oblige by going up.

Rather, given a relative lack of liquidity for ETH > fiat and the significance of the BTC dump, ETH holders will cash out to an asset that is already going down in value... and make it go down more.

It's either that or hold on to your ETH as a true believer / wait for proper fiat markets to build up steam.

[klee]

When the market quickly (eg <8h) rejects a dump, we are ready for halving FOMO!

Every dump gets weaker (this seems to be the case so far) and it will take many Toddcoins to dump in order to 'destroy' the halving hype.

The chart I posted above is unchanged (support held so far).

Too bored to post in more detail but long term holders should sell at 2600.

If we keep the support in the previous post, things are still bullish medium term too .

Short term traders should buy here with a stop at 2940.

I don't like shorting so don't expect much advise from me in this, I suppose a stop at 3040 is very wise to have.


Regarding ETH, avoid buying here and only enter if we break ATH. You can short with a stop at 320 (not recommended because ALL Ethereum charts turned full bullish except the weekly close!).
Here is the 15m CLOSE:






LTC is a buy at 84-86, sell if it closes below 84- for 1h+ (violating the green lines will not be good):

[klee]

Perhaps, rather than grow together... they can go down together. 

In the case of a genuine BTC dump, it seems too good to be true that ETH will oblige by going up.

Rather, given a relative lack of liquidity for ETH > fiat and the significance of the BTC dump, ETH holders will cash out to an asset that is already going down in value... and make it go down more.

It's either that or hold on to your ETH as a true believer / wait for proper fiat markets to build up steam.

In this case shorting ETH will be the ultimate fiat making machine!

[klee]

https://www.tradingview.com/chart/DGBBTC/F8wokkLN-DIGIBYTE-bottomed/

[klee]

https://www.tradingview.com/chart/BTCCNY/MXPZGI2X-CryptXO-Analysis-for-Huobi-BTCCNY/

John Bollinger says pretty much the same (bear tarp):

https://twitter.com/bbands/status/733350214103236608

"Re $BTCUSD BB Squeeze: The pattern in %b suggests some more weakness, then I'll be looking for a Head Fake."

http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies:bollinger_band_squee#the_head_fake

So I suppose a flash crash even at 2850-2875 is possible and closing 15m 2900+

We'll see...

[klee]

Both methods (BB, P&F) match for the targets!