Nights Watch by Afrikoin

[Afrikoin]

Due for a mild correction?



(BITCOIN PRICE INDEX $1,190.74)

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[windjc]

I call this playing toy.

This is me trying to figure out how the complex correction at $162 might have been.

It was clearly NOT an impulsive 1 2 3 4 5 wave up. So it must have been a correction.

This would be a leading diagonal A. that would possibly put as in wave 1 on a higher degree and possibly the down to come would be wave 2, then mega mega wave 3.

But we will only know this at $650

Most of the times, the end of a bearish correction is not at the lowest point of where the market went.

If this is not an impulsive move up, are you really denying that crypto is in a bull market?

It's good to see the bears are still hoping, that strengthens the claim of the bull. The only time where one needs to be really wary is when everybody is convinced that all is rosy.

The target I shared is based on support resistance levels on the weekly chart.

There is very strong support at $650.

I shared a chart some pages back if you had bothered to look

Chart was by Joel on a bitcoin Price analysis article on bitcoin magazine

The problem I have with this is the following. ETH and BTC are basically inverse. If BTC goes down 40%, and we are still in a crypto bull market, ETH may double or triple again. Then you have ETH at a HIGHER market cap than bitcoin.

Is that REALLY going to happen, right now in 2017?

[Afrikoin]

[Afrikoin]

[Afrikoin]

[Afrikoin]

[Globb0]

Thanks for sharing these. I really do find them all very interesting.

[Afrikoin]

OPTION 1

Here is one play out i am looking at.

The current down move retraces 50%, making the zig zag formation we have been on the A

the B would be the 50% retracement

Followed by a 5 wave impulsive move up

so i would looking for a wave 1 -2 immediately after a low is found ($1100 - $1060)

Similar to what happened late last year /earlier this year (IN blue)

[Afrikoin]

Option 2

This also retraces 50%

but it does not bounce off the 50% fib and back up, instead, it continues on down

it would be similar to the rise from $945 to $1120 back in mid - March

aand, it falls in 5 impulsive waves down.

Only at $1060 - $1100 can we conclusively say whether we are going more down or up to $1300s, $1350 and break past it (an irregular B wave)

[Afrikoin]

Tone Vayes

[Afrikoin]

"The choppy conditions have intensified over the past 24 hours..."

https://twitter.com/BullBearAnalyst/status/852908965591732224

[Afrikoin]

Via gregory maxwell

 I do not support the BIP 148 UASF

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/014152.html

[FiendCoin]

Is 800 still on the table and what chance do you see for it?

[Afrikoin]

source: https://twitter.com/BitcoinGuruWS/status/852910888457719808

#Bitcoin forming another bearish reversal (we had a rising wedge earlier), watching closely this H&S target $1050

[Tzupy]

source: https://twitter.com/BitcoinGuruWS/status/852910888457719808

#Bitcoin forming another bearish reversal (we had a rising wedge earlier), watching closely this H&S target $1050

Yeah, that's what I am expecting too. If strong support will be found there, we should recover and later this year break 2000$.
OTOH, if some terrible news will lead to support failure, it could mean a new bear market and sub 300$ ( bears can dream... ).

[Afrikoin]

Today's daily bitcoin chart - http://imgur.com/a/P9XyP

Still leaning bearish given the divergences in indicators as well as cross exchange spot price divergences. Finex has been leading the market direction and by now its pretty clear that the buying is forced as opposed to organic (due to Finex customers being unable withdraw USD).

There are a finite amount of people on Finex that can head to the exit however, so sooner or later the buying power will loose its steam (if it hasn't already).

On the sidelines for now but will likely head short bitcoin if price cant hold above $1200 through the next 24-48 hours & long Eth.

source: https://www.reddit.com/r/BitcoinMarkets/comments/65afwu/daily_discussion_friday_april_14_2017/dg9m5zl/

[Afrikoin]

[Afrikoin]

joel

4h Follow-Through: BTC, ETH, DASH Ep. 13

TLDR: target leaning bearish on BTC $1100 - $1060

Expect bitcoin to continue down

https://www.youtube.com/watch?v=758JlvzzC5o

[Wexlike]

http://www.zerohedge.com/news/2017-04-14/one-trade-changed-400-years-history-just-four-hours

First official(?) trade using the Bitcoin(?) blockchain. The 4 hours transaction time would at least correlate with a low transaction fee.  

It’s a whole new way for business to get done. In a few short years, most international trade will be conducted through a blockchain… just like most of the world’s communication is done via email.

But the blockchain won’t only change trade… Think about real estate. Real estate transactions have been done basically the same way since the Middle Ages. It’s a cumbersome, paperwork-heavy process that takes months.

In a few years, the blockchain will allow you to qualify for a loan, conduct a title search, and close on a house in a single day… It’s not that far off.

It’s not every day you get to see a life-changing trend happen right before your eyes.

In a few short years, the word “blockchain” will be as commonplace as email. And it will spawn entire new industries.

What to Do Next
Barclays has proven the blockchain works to conduct business… and it won’t take long before this technology becomes widespread. Remember, email took off just two years after its first use.

But here’s the thing… The technology is run using cryptocurrencies such as Bitcoin. I’ve written extensively about how you can use cryptocurrencies to protect your wealth and privacy… but they also act as “shares” in the burgeoning blockchain industry.

[Afrikoin]

bitcoin