BTC looks like it bottomed out or is at least close. I dont think we will see it drop much lower. Recent movement looks bullish to me.
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Hi all!
Quick thoughts.
Kucoin - Daily Chart
Looks like it broke a level of support, that it has held and ranged from for the last month. 150sats is now a new level of support. Looks like it will be a strong support.
On the daily chart, not seeing any bullish divergance on the RSI. It is very oversold but could stay there for a little while (week). Has not been this oversold since Sep last year.
We do have a downward wedge pattern, which tend to break to the upside but ultimately it is a wait and see. Should see something happen within a weeks time.
I expect to see a bounce off the 150sat and then a retest of the higher purple line and hopefully a break. It is getting squeezed into a corner, so am expecting a break out off this trend that has been playing out for a while.
It could then continue sideways and make a newer smaller downward wedge until the whole market is ready to reverse.
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Iām no expert on this stuff but looking at the btcusd shorts daily chart, weāre due a 40% drop in price over the next 30 days taking us down to around $2160 per btc.
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I would agree with that assessment. I believe weāll see a small bump when iOS and cloud mining release and stay rather stagnant until Mobile World Congress 19 in Barcelona. I donāt see any major moves either way until then.
@phnx yes, that is very possible over the next month. As much as it pains me to say it, I almost hope for it. It will signal the capitulation event everyone seems to be expecting (which means it may never actually come). Either way, we are either in the slow recovery/accumulation zone now, or we will be in the next 45 daysā¦I donāt really care when, I just want to see some higher lows and highs soon before everyone one both in and out of crypto simply give up. The whales can drive the prices down all they wantā¦but sooner or later they will be playing the game by themselves.
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https://youtu.be/ivWdOztDkv4 is a very interesting about a 4 year cycle btc goes through. According to this Bob Loukas weāre in the final stages of quarterly pull back and will now go through a 3 year growth stage. I worked out that in the next 3 years, if the charts stick to this 4 year cycle, btc will x 90 on the final bottom price. So I think btc will bottom at $2160 x 90 = $194,400 is supposed to be the price of btx 3 years from nowā¦ I donāt really believe it but Iāve even reduce the growth potential by 30%.
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Iāve seen the 4 year cycle info and I generally agree with what you are saying. I differ on the bottom price IF we do dip under 3k because SO many people are expecting it now. The smart money that actually move this market typically do the opposite of what people expect. Thatās how they make their money.
As far as ETN, I pulled a fibinachi retracement from the spike we had back in September and we broke the .618 and are now headed toward the popular .786 level, which is 152 sats. 162 is acting as a strong support right now but we also have a pretty strong support at 150. So for us to break under that 150-152 level will require a pretty massive sell off by a couple whales to be sustained. Iām pretty confident calling 150 the potential bottom for ETN.
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Iām a huge ETN believer and holder, but I always question myself if this is the best or worst investment I ever madeā¦Time will tell 
I decided to sold all my altcoins and just stayed with ETN, thatās how much I vision this project for success.
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I would lean toward the best decision. I have a fairly diverse portfolio but no other project comes close to the potential of ETN (except one that I donāt want to advertise on ETNās boards). About 75% of my total crypto investment is in ETN and Iāve put a lot more money in than I ever though I would. Like you, I truly believe. If it all goes to hellā¦well, then Iāll just have to cry and beg my wife not to leave me ;p
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Haha same here bro. Good luck to us lol
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Ditto!
Im pretty screwed, haha. No screw for me then.
Btc can also grow us high on the same time.
When you look at it, it seems like Etn is timing deals and big right around when the cycle should turnā¦ with alot upcoming fuel next 12months. Or 3years if you like.
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Haha same here. I think weāve got a good chance of our wives sticking around and being pretty happy in the next few years.
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Hope, all is well. Hope, ETN stored in cryptopia are not affectedā¦
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The silver lining to this is the dumpers funds are stuck too
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Biggest problem is trying to fix the āholeā.
Not to mention theyve got a page full of really piised off customers.
The damage thats done is more than the hack itself.
I got onto the CEO of MandalaEx whos offered to help em fix it.Last I heard the hacers coins ard locked in Binance
Might be another one to harrass for a listing.
Although some of these exchanges are ERC-20 s only.
Hope that helps.
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Here is a comparison between BTC and Gold markets. What do you think?
The post is here: https://www.tradingview.com/chart/BTCUSD/yupo6TGS-Bitcoin-The-Silence-is-Deafening/
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It seems pretty similar but keep in mind that gold reflects almost 25 years while BTC only 1yr.
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Itās been a couple days since Iāve posted a chart of any kind because, wellā¦itās been either boring, or slightly depressing so I took the two year old approach and pretended it wasnāt there thinking the troubles might go away.
But Iām happy to say I bring semi good news with some hope for an upswing! Iāll post a couple charts from Kucoin on different time scales to show supporting evidence of a potential bounce coming.
Hereās the 1 hour chart:
We do have a bullish divergence on the 1 hour with a rising RSI and declining support line. We are also approaching a historically key fibinachi bounce line of .786. For those that donāt know what that means, it means we have retraced 78.6% from the last swing low to the swing high. For whatever reason, the .786 is historically where we see bounces. We also have some very good support at the 150 sat rangeā¦at least we did in the past. So IF we break the .786 (and I honestly am not sure we will), I am fairly confident 150 will be the bottom. After that, itās a harsh drop to 84 sats with a very quick pitstop at 110 sats. Soā¦hereās to hoping we bounce!
If we look at the 8 hour chart you will see we are VERY oversold on the RSI and are starting a bounce up off a line that weāve used as a bounce point multiple times over the last four months:
Keep your chin up folksā¦we just need to keep breathing a little longer. MWC19 is right around the corner!
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I picked up this one for you to pick to pieces!!
Its not my charting but you probably know whose it is!
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That chart is hard to physically read , but yes I do agree wth what Iām seeing visually. He has the falling wedge as I do, I just didnāt point them out on my last post. I didnāt even bring up the MACD as I donāt use that indicator often. But the forecasting on the MACD with the blue overlapping the red would be SUPER bullish at these levels.
All the tools are indicating a turn aroundā¦whether or not it actually happens remains to be seen. But if I had more spare funds, Iād be betting we see a bounceā¦the number of red candles on the daily for the past 16 days (13 out of the 16 days) is simply crazy. Thatās like going to a roulette wheel at a casino and seeing the ball land on a red number 90% of the time. Law of averages have to kick in at some pointā¦that may not have been the best analogy, but itās the best one I could come up with revolving around odds.
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Yes unfortunately hard to read.
I same inclination on the visuals.
I agree with you totally.
Its happening
Soooon!!
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