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Author Topic: The king is about to wake up.  (Read 526 times)
soxxx
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September 24, 2019, 06:13:21 AM
 #21

Still feeling bullish about this triangle. Grin
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September 24, 2019, 08:05:01 AM
 #22

Still feeling bullish about this triangle. Grin

Same. Just watch out for a classic head-hake first. Shorts are rising but still unimpressive, and longs keep piling on. Bulls don't seem ready to break out either. I wouldn't be surprised to see a shakeout like this first before snapping back up like a rubber band:


http://thepatternsite.com/st.html

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September 25, 2019, 10:37:30 AM
 #23

Still feeling bullish about this triangle. Grin
If it is bitcoin, I have always been bullish about the coin, because prior to now, I have never expected the price to have stabilized around $9k and $10k, I still don’t know the factor that led bitcoin out of the bullish market that is not strong enough to lead other coins out of the bearish market, from my statement here, it shows that I am only bullish about bitcoin and altcoin is still a little bit doubtful as I really don’t know the fate of altcoins.

There have been so many factors that ought to have assisted in bringing them out of their bearish market, even recently when a factor unknown to us tried to bring them out, they still plunged back to their red lane. it is only the king of crypto that has really tried for us this year as I never thought that we could have even reached this stage, if I was to tell you what I foresee for September before the increase, it was $6000.

 
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September 30, 2019, 01:02:14 AM
 #24

Not trying to scare anyone, but the chart looks terrible





I do not see bitcoin anywhere but 6k after this break out and the 5SMA crossing the 20SMA on the weekly, to me I see two scenarios as of now.

1-Drop to 6k and consolidate there for a while before going to ATH
2-Enter a bear market for another year or so , re-test 3k make  a double bottom and then start another bull cycle.


These two scenarios are invalidated if the price does close again above 20SMA on the weekly.


another more concerning view can be found on the monthly chart, the monthly candle will close today and these three black crows are very scary




As far as day trading is concerned, it's now safer to short the market , a retrace to the 20SMA and 5SMA area (9300$-9600$) on the weekly chart will be a good chance to short/sell bitcoin , until the chart tells us otherwise.

Stay calm, don't panic just follow the chart.

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September 30, 2019, 07:02:26 AM
 #25


As far as day trading is concerned, it's now safer to short the market ,


Or better to buy as much of the dip as your savings/salary can allow, and HODL in my opinion. Surely it's the superior strategy to make superior returns?

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September 30, 2019, 08:00:43 AM
 #26

As far as day trading is concerned, it's now safer to short the market ,

Or better to buy as much of the dip as your savings/salary can allow, and HODL in my opinion. Surely it's the superior strategy to make superior returns?

Buy the dip where? Here? $6,000? It makes a pretty big difference. You could possibly get 20-30% more coins by waiting. Much more if we're actually entering another bear market.....

I agree with him that it seems like "sell the bounce" time. $9,000s or a wick above $10K if we're lucky.
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September 30, 2019, 08:27:05 AM
 #27

As far as day trading is concerned, it's now safer to short the market ,

Or better to buy as much of the dip as your savings/salary can allow, and HODL in my opinion. Surely it's the superior strategy to make superior returns?

Buy the dip where? Here? $6,000? It makes a pretty big difference. You could possibly get 20-30% more coins by waiting. Much more if we're actually entering another bear market.....


Now. The strategy is to do dollar cost averaging while it goes down. But tough HODLING ahead, your patience WILL be tested.

Quote

I agree with him that it seems like "sell the bounce" time. $9,000s or a wick above $10K if we're lucky.


Zoom out.


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October 05, 2019, 07:52:25 PM
 #28

another more concerning view can be found on the monthly chart, the monthly candle will close today and these three black crows are very scary

I was looking at the monthly chart this morning and thought of your post. There are sort of three black crows, although it's difficult to describe them as long-bodied candlesticks.

More importantly, what about the three white soldiers that came directly before?



I think we need more evidence to declare a bear market. In fact, it still looks like a bull flag at logarithmic scale.

Worst case, I think the market will capitulate to the 0.705-0.786 area before bouncing back to the $9,000s in similar fashion to the 2018 crash. Then the market will decide between bull or bear for the long term.

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October 05, 2019, 09:32:49 PM
 #29

I was looking at the monthly chart this morning and thought of your post. There are sort of three black crows, although it's difficult to describe them as long-bodied candlesticks.

More importantly, what about the three white soldiers that came directly before?


I am not sure how do you use the three candle set-up, but to me I only take it seriously when it shows reversal of trend direction, the three white soldiers you show in your chart were present in a natural trend direction (up) so they are kind of irrelevant, the real three white soldiers were the candles of Feb,March and April , and they worked out very well, the market went up more than 150% after April candle closed, these three black crows I am pointing out has every characteristic that determines a trend reversal

1-They came up after about a movement of 315% to the upside
2-The wicks show strong rejection to the down side
3-RSI was very close to critical a resistance on the monthly (67)

and by the way, the best way to use the three set-up candle is along side with RSI , at least based on my personal experience.


Do you remmeber my topic (ichimoku cloud says 3100$ is the cheapest bitcoin will ever be) ?

I have been taking the cloud very seriously, and guess where we at now?



According to history, we must test the top of the cloud before making any higher highs, and guess where at is ?6500$ , does that match your Fib 0.705?

The cloud also tells another story , it says , bear/sideways market till 11/11/2019 , this is based on the fact that until we pass the ichimoku resistance, there should no movement to the upside, check 2016 you will get a better clue.

Again out of all these analysis, I still stand by the 20SMA on the weekly , and I still take this as a bear market until it's broken to the upside.

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October 05, 2019, 10:18:21 PM
Merited by mikeywith (1)
 #30

I was looking at the monthly chart this morning and thought of your post. There are sort of three black crows, although it's difficult to describe them as long-bodied candlesticks.

More importantly, what about the three white soldiers that came directly before?

I am not sure how do you use the three candle set-up, but to me I only take it seriously when it shows reversal of trend direction, the three white soldiers you show in your chart were present in a natural trend direction (up) so they are kind of irrelevant, the real three white soldiers were the candles of Feb,March and April , and they worked out very well, the market went up more than 150% after April candle closed, these three black crows I am pointing out has every characteristic that determines a trend reversal

Three white soldiers is not simply three green candles in a row. Long-bodied candles are vital to the definition. So is the requirement to close above the previous candle's high. In both cases, this wasn't seen until April.

Likewise, the July and August candles are clearly dojis, the opposite of long-bodied candles. The August candle also did not exceed the low of July, another reasons it's technically not three black crows.

https://www.investopedia.com/terms/t/three_white_soldiers.asp
https://www.investopedia.com/terms/t/three_black_crows.asp

Again out of all these analysis, I still stand by the 20SMA on the weekly , and I still take this as a bear market until it's broken to the upside.

Definitely cause for concern, but there's too little historic data to be confident about that.

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October 08, 2019, 03:15:11 PM
 #31

Although this is better than spreading FUD but hopefully that your chart and presumption are correct because i used to see this kind of speculation before but it did not happen as desired making us to be disappointed again. So hopefully this time is for real.
It is not all speculations in the market that comes from a genuine analysis, when you see someone that really predicted genuinely, you will know because those one do predict with breakdown of the analysis that they do and when you see someone who is just predicting based on instinct, it is also easy to know them because they are the type that just speaks value without actually backing it up with any analysis which I can tell you that majority of the people that we have in the market are all speculating based on instincts which is why we see that majority of them is actually not very much accurate and some of them don't even happen at all.

I don't just listen much to speculation, I just watch out of fundamentals that will still keep me in the loop about the development of Bitcoin.




.




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October 26, 2019, 04:06:20 AM
 #32

It woke up finally  Grin Wink
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October 27, 2019, 06:48:14 AM
 #33

Now it just needs to get out of bed  Grin

 
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October 27, 2019, 09:46:25 AM
 #34

I am not sure how do you use the three candle set-up, but to me I only take it seriously when it shows reversal of trend direction, the three white soldiers you show in your chart were present in a natural trend direction (up) so they are kind of irrelevant, the real three white soldiers were the candles of Feb,March and April , and they worked out very well, the market went up more than 150% after April candle closed, these three black crows I am pointing out has every characteristic that determines a trend reversal

1-They came up after about a movement of 315% to the upside
2-The wicks show strong rejection to the down side
3-RSI was very close to critical a resistance on the monthly (67)

and by the way, the best way to use the three set-up candle is along side with RSI , at least based on my personal experience.

I have been taking the cloud very seriously, and guess where we at now?



According to history, we must test the top of the cloud before making any higher highs, and guess where at is ?6500$ , does that match your Fib 0.705?

The cloud also tells another story , it says , bear/sideways market till 11/11/2019 , this is based on the fact that until we pass the ichimoku resistance, there should no movement to the upside, check 2016 you will get a better clue.

Again out of all these analysis, I still stand by the 20SMA on the weekly , and I still take this as a bear market until it's broken to the upside.

@mikeywith, you should continue to give us your TA prediction, it's a good thing to see some perspectives regarding market charts .
Since bitcoin has a bullish movement two days ago, what do you think about the next movement? will it still drop to $6500 or so? or bitcoin will reach over $10K by next month 11/11/2019?

 
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October 27, 2019, 10:14:08 AM
 #35

According to history, we must test the top of the cloud before making any higher highs, and guess where at is ?6500$ , does that match your Fib 0.705?

The cloud also tells another story , it says , bear/sideways market till 11/11/2019 , this is based on the fact that until we pass the ichimoku resistance, there should no movement to the upside, check 2016 you will get a better clue.

Again out of all these analysis, I still stand by the 20SMA on the weekly , and I still take this as a bear market until it's broken to the upside.

@mikeywith, you should continue to give us your TA prediction, it's a good thing to see some perspectives regarding market charts .
Since bitcoin has a bullish movement two days ago, what do you think about the next movement? will it still drop to $6500 or so? or bitcoin will reach over $10K by next month 11/11/2019?

I actually thought the last analysis wasn't too silly, and I was also expecting 6500 really, even if it wasn't going to affect how I'd be doing my bitcoin buys (I'm a faithful dollar-cost averager trucking along happily).

But I suppose history isn't proven wrong even with the past 2 days of happenings? As in, major bottom signalled before short squeeze?

TA should still be unchanged too, especially now we see pullbacks so quick after 10k.

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