PnF TA

[macsga]

We're in a very decisive point regarding USD/BTC pair. The trend -as always- will decide if we cross 400 within the next 24h or head back to 320 area. You may want to look for China opening within the next couple of hours, I have a feeling that the negative rates from Japan won't make their situation regarding CNY devaluation better...

[klee]

Breaking 365 now will take us in a bear market according to one of my daily charts.

The other daily chart (more long term one) is becomes bearish at 320.

But we may bounce for good here because in the first chart we hit the main bullish support and in the second we have a bullish support here too (though it's main bullish support is in the 321-335 area).

These are TRENDlines though (45 degree lines), we have horizontal support as always too.

Though below 320 longs are not recommended.

383$ would be the first bear blood.

[klee]

I am long $BTC here with a stop at 357$.

Long term long (investing).

Not suggesting anything.

My analysis though says it is a very good entry point and we have a pretty close stop (I will sell manual in a higher price of 357 if I can, in case this goes bad).

Bitfinex prices.

Breaking 365 now will take us in a bear market according to one of my daily charts.

The other daily chart (more long term one) is becomes bearish at 320.

But we may bounce for good here because in the first chart we hit the main bullish support and in the second we have a bullish support here too (though it's main bullish support is in the 321-335 area).

These are TRENDlines though (45 degree lines), we have horizontal support as always too.

Though below 320 longs are not recommended.

383$ would be the first bear blood.

Bitfinex 1D HL 1%x3

[klee]

Triple top break!

It took some more drama but it happened as expected.

Bitfinex 1D HL 1%x3



This support now is very strong, it was tested almost 3 times.

Price Objective (horizontal count) is 410.

[klee]

Key here are 3 things:

1) Higher lows
2) Bounce in the main bullish support
3) Triple top break


All these makes it a very strong signal.

[Gillette]

Triple top break!

It took some more drama but it happened as expected.

Bitfinex 1D HL 1%x3



This support now is very strong, it was tested almost 3 times.

Price Objective (horizontal count) is 410.

I was sure you would update the prediction after this bump

I think it`s time to go up!

[klee]

Triple top break!

It took some more drama but it happened as expected.

Bitfinex 1D HL 1%x3



This support now is very strong, it was tested almost 3 times.

Price Objective (horizontal count) is 410.

I was sure you would update the prediction after this bump

I think it`s time to go up!

I would do the same if it was a sell, because it would be a very strong signal too.

Actually I advised my subscribers to be 100% alert because either way we would have a very strong signal.

I was long but I had a stop at 365 (trendline violation) and I would have shorted in case of a breakdown.

[Okurkabinladin]

Any updates? Did we break down are are we still locked in triangle?

[Wexlike]

Just look at his latest PnF chart, support was at 371$ but it broke through. But I think in his 1 day timeframe it doesn't invalidate the chart, depending when the day closed.

[klee]

Hey guys, apologies but it is tough to keep up at weekends (family comes first).

Long story short all is good.

Bitfinex is so illiquid and hysterical that it managed to break the bullish support of the 1%x3 1D HL but did not give a sell.

China is holding it like a king though and now we have the daily charts getting squeezed (triangle) between the very strong main bullish supports and the bearish resistances that kept building up.

394 395 very strong buy (edit: catapult).

2625 is the relevant price in BTCChina, 2700+ moon.

[klee]

For the record, the catapult is only in Bitfinex (noise?).

2625 is an ascending triple top break in BTCChina though.

Huobi data not available due to worst API ever, OKCoin too much noise.

BTCChina is my pick (both for data and for trading) for various reasons in general.

In the daily charts I will probably start using Coindesk's index soon (both for USD & CNY).

A lot of changes optimisations will happen at CryptXO, this market is full of little secrets, you have to look at the market from many PoVs (for example we have a very strong support & resistance in a certain Bitstamp PnF setup which are like walls since the last ATH and 155 low).

[8up]

thx for your updates. appreciate it very much.

[klee]

Just wanted to clarify that currently I am not more bullish than bearish (the situation can turn very bad if we don't hit the above targets).

The first post today was to answer about the consequences from the big dump at Bitfinex (because I saw a triple top break there as a good buying opportunity).

It will be tough to break 2900 again, but IMO 2625, 2700 and 2870 are the key price targets.

[hdbuck]

imho, plenty of time to 'test' new supports because FBI does not have more coins to sell. 

[macsga]

imho, plenty of time to 'test' new supports because FBI does not have more coins to sell. 

They wouldn't sell it on the exchanges anyway; and certainly those who bought them wouldn't sell them either. Except you're referring to something else, I don't know about.

[hdbuck]

imho, plenty of time to 'test' new supports because FBI does not have more coins to sell. 

They wouldn't sell it on the exchanges anyway; and certainly those who bought them wouldn't sell them either. Except you're referring to something else, I don't know about.

FBI inflating btc price prior to auction of theirs.

[macsga]

imho, plenty of time to 'test' new supports because FBI does not have more coins to sell. 

They wouldn't sell it on the exchanges anyway; and certainly those who bought them wouldn't sell them either. Except you're referring to something else, I don't know about.

FBI inflating btc price prior to auction of theirs.

Could be true, but seriously doubt it. If I was running such an op I'd go for 1000$ coins.

[RyNinDaCleM]

imho, plenty of time to 'test' new supports because FBI does not have more coins to sell. 

They wouldn't sell it on the exchanges anyway; and certainly those who bought them wouldn't sell them either. Except you're referring to something else, I don't know about.

FBI inflating btc price prior to auction of theirs.

Could be true, but seriously doubt it. If I was running such an op I'd go for 1000$ coins.

It would cost more than they'd get for the auctioned coins, then they would have 100k more to get rid of.

[hdbuck]

imho, plenty of time to 'test' new supports because FBI does not have more coins to sell.  

They wouldn't sell it on the exchanges anyway; and certainly those who bought them wouldn't sell them either. Except you're referring to something else, I don't know about.

FBI inflating btc price prior to auction of theirs.

Could be true, but seriously doubt it. If I was running such an op I'd go for 1000$ coins.

It would cost more than they'd get for the auctioned coins, then they would have 100k more to get rid of.

I'm not sure about the maths behind this, average order books are rather thin in my view, and algo bots could easily move the markets at an even lesser cost.

If MK did it... why not FBI?

[macsga]

imho, plenty of time to 'test' new supports because FBI does not have more coins to sell.  

They wouldn't sell it on the exchanges anyway; and certainly those who bought them wouldn't sell them either. Except you're referring to something else, I don't know about.

FBI inflating btc price prior to auction of theirs.

Could be true, but seriously doubt it. If I was running such an op I'd go for 1000$ coins.

It would cost more than they'd get for the auctioned coins, then they would have 100k more to get rid of.

I'm not sure about the maths behind this, average order books are rather thin in my view, and algo bots could easily move the markets at an even lesser cost.

If MK did it... why not FBI?

+1
Since (nearly) nothing is on the ledger, they can draw dinosaurs and no one will understand anything...