PnF TA

[klee]

I for one am really uneasy about the price right now, I feel like its a good buy opportunity, the best buy opportunity in a while actually, but at the same time I'm not sure there is enough buy support to even hold $200.  I wonder if we break $200, it could be another long fall from there.  Or, if some strong buying happens, we could be in for a run up.  I feel like we're right on the edge and could go wither way.

So why would now be a good buy, and what reasons (actual reasons, not just "because were going to the moon") are there for the price to stabilize and continue upward?

IMO don't try to catch a falling knife, especially as the XT vs Core drama is not over.

That said, a buy from 125 down to 50 is a very good buy because there will be almost certainly a bounce at least to 150. Especially if the drama is over (which of course will make it almost impossible to fall below 100$ and probably will send us above 240s).

If the drama is over, above 235 is a certain buy.

With or without drama, all in above 285.

Just don't be greedy to trade the 160-235 chop. Wait patiently for better opportunity.

Good choice is a short between 228-232 with a stop at 234.

I sold off what I had today just before the spike in the last hour. Don't regret it yet, I feel a crash is more likely right now. If this doesn't happen in the next few weeks, I'll keep these figures in mind so I don't get left behind before a major rally.

https://bitcoinwisdom.com/markets/bitstamp/btcusd , 2 or 4h

I think we will go up to 230-235 and then fall back in the 202-205 area. Then a W formation and a breakout above 235.

[klee]

interesting double top signals now on finex BTCUSD,2,3, HL as well as finex BTCUSD,4,3, HL - I would be careful.

a subjective question is on box size as well as the parametrization of close or high low - do we have enough quality here to discuss this open minded?

I think HL is the better parameter for cryptos - but I am not sure on the high part of it.

What timeframe? I see nothing on 1d*  

For BTC, HL is preferable for medium/short term traders. CLOSE better for long term traders and/or investors. CLOSE is very useful for riciculously high volatility (as in BFX recently) and to have it always open for seeing a better view of the trend (HL may be on Os while CLOSE still on X column).

In alts I prefer CLOSE and 2% log scale because of the insane volatility.

PM me your skype...

*In 2 box HL, double top breakout is 234, 4 box 256...

[nakaone]

interesting double top signals now on finex BTCUSD,2,3, HL as well as finex BTCUSD,4,3, HL - I would be careful.

a subjective question is on box size as well as the parametrization of close or high low - do we have enough quality here to discuss this open minded?

I think HL is the better parameter for cryptos - but I am not sure on the high part of it.

What timeframe? I see nothing on 1d*  

For BTC, HL is preferable for medium/short term traders. CLOSE better for long term traders and/or investors. CLOSE is very useful for riciculously high volatility (as in BFX recently) and to have it always open for seeing a better view of the trend (HL may be on Os while CLOSE still on X column).

In alts I prefer CLOSE and 2% log scale because of the insane volatility.

PM me your skype...

*In 2 box HL, double top breakout is 234, 4 box 256...

timeframe was 1 hour - do you have a reason for chosing a day as a timeframe?

pmed you

[klee]

interesting double top signals now on finex BTCUSD,2,3, HL as well as finex BTCUSD,4,3, HL - I would be careful.

a subjective question is on box size as well as the parametrization of close or high low - do we have enough quality here to discuss this open minded?

I think HL is the better parameter for cryptos - but I am not sure on the high part of it.

What timeframe? I see nothing on 1d*  

For BTC, HL is preferable for medium/short term traders. CLOSE better for long term traders and/or investors. CLOSE is very useful for riciculously high volatility (as in BFX recently) and to have it always open for seeing a better view of the trend (HL may be on Os while CLOSE still on X column).

In alts I prefer CLOSE and 2% log scale because of the insane volatility.

PM me your skype...

*In 2 box HL, double top breakout is 234, 4 box 256...

timeframe was 1 hour - do you have a reason for chosing a day as a timeframe?

pmed you

1h is very sensitive - more reward but more false signals. Original P&F was 1d CLOSE. I don't pay TradingView so I only have 1d timeframe available. If I could I would use 4h & 8h HL charts too.

[klee]

As predicted by our 2$ box chart, BTC found resistance at 228:




Did not manage to short it because of the BFX issues. I am still traped there so until I go I am looking at BFX charts too.

[meh32123]

So we are going down now?

[Wexlike]

229 @ bitfinex

[klee]

So we are going down now?

Not necessarily - we may breakout above resistance (234) - I see it strong so I don't think shorting here is wise, better to wait for 234 to go long up to 245-260 area.

[klee]

I will be travelling and busy settling back at my base until Monday, so pardon my absence here and/or slow PM responses...

[klee]

Bought LTC at 3$ - plan is to double at 6$. Cross fingers...

[meh32123]

All the way up to $6 ?

Based on what did you make this decision?

[klee]

All the way up to $6 ?

Based on what did you make this decision?

I think if we don't have a sell the news dump (seems we did not), medium/long term it will retest 7$

[klee]

Next stop 254-258:



Or epic fail here (unlikely).

[klee]

There is also the 242-244 resistance but I think it will be violated in the  2$ box HL.

In the 4$ box resistance is 244-248:

[Fakhoury]

Klee, so $200 will not be tested again, in other words, no more dips ?

[klee]

Klee, so $200 will not be tested again, in other words, no more dips ?

I don't know, still overall trend is bearish. It may fall back to 200 if it fails somewhere between 240-285.

Bullish above 285.

[klee]

Some draft ETH & XMR P&F action here:

https://docs.google.com/spreadsheets/d/1PTYtkbVDZUSDWx9tGhR_FmfX_Rovqa_sx3hs7Nl6kYQ/edit?usp=sharing

[meh32123]

LTC plan failed?

[klee]

LTC plan failed?

Not yet, will sell if we break 2.5 and/or close below 2.75

[klee]

BTC failed to breakout, it could end 3 ways:

1)Fall into the support (200+) and bounce
2)Double bottom break <198
3)Reverse and triple top break (that applies as a possible scenario after 1 too)