Forecast and levels for Cryptocurrencies - page 11

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Sergey Golubev, 2018.01.16 17:28

Ethereum Daily - bullish ranging within the levels for the possible correction to be started; 998 is the key (based on the article)

Daily price is located far above Ichimoku cloud in the bullish area of the chart: the price is on ranging within 1,380 resistance level for the bullish trend to be continuing and 998 support level for the secondary correction to be started.


  • "Ethereum is in danger of breaking the trend-line from December if today’s sell-off remains as is, or deepens. There is minor support at 965.18, but the level of bigger interest is the December 19 high at 863. Below there we will then have to turn to the trend-line from November in the mid-700s."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 

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Sergey Golubev, 2018.01.16 17:21

Litecoin Daily - testing 193 support for the bearish reversal (based on the article)

Daily price is on possible breakdown which may be started if the price breaks 193 support level together with the descending triangle pattern to below. If yes so the bearish breakdown will be started with 174 nearest daily bearish target to re-enter.


  • "Litecoin is probing support, with a slight breach below the 200-level taking place this morning. It would mark a lower-low if it does hold below, and the spike-low at 173.68 would be up next as support."
  • "A break below both levels could lead to a much larger decline. A hold of support through today will still keep life in Litecoin, but it will need to quickly turn higher if it is to maintain a neutral to bullish technical backdrop (keep a descending wedge still in play)."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 

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Sergey Golubev, 2018.01.16 17:15

Bitcoin Daily - breakdown with the bearish reversal; 12,355 is the key (based on the article)

Daily price is on breakdown with the possible bearish reversal: the price is breaking 12,355 support level to below for the breakdown to be continuing with the bearish reversal to be started.


  • "This morning we are seeing a sizable drop in cryptocurrency-land, with double-digit percentage declines taking place across the board. Bitcoin is in real danger of breaking critical support by way of a slope extending higher from May and horizontal levels. The slope dating back to May is viewed as rather significant given its influence on several occasions since, most recently in November. While it has always been a form of resistance, once it was broken it became a source of support."
  • "The May slope along with price levels during December make the ~11700/150 price zone an important one. Hold and Bitcoin lives to fight another day, possibly building the descending wedge we discussed last week. Break, and the trend-line from July in the low 10000s and worse (maybe much worse) come into play."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 

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Sergey Golubev, 2018.01.17 19:11

Cryptocurrency News - breakdown with the daily bearish reversal 

Daily price is breaking 9,951 support to below for the breakdown with the bearish reversal to be continuing.

1. Bitcoin In Free-fall On Regulation Worries
Bitcoin and other major cryptocurrencies extended their sharp fall from Tuesday into Wednesday morning on prevailing concerns of South Korea and China, the two leading crypto markets, planning severe crackdown on the digital currency market. 

2. Bitconnect Platform Shuts Up Shop Causing Coin To Tank 90%
Controversial cryptocurrency Bitconnect Coin, which was suspected of being a Ponzi scheme, announced that it is shutting down its lending and exchange platform. 

3. Two Blockchain ETFs To Hit Market
The investing world will be presented with two new products on Wednesday that try to cash in on the blockchain technology that underlies Bitcoin. Reality Shares Inc. and Amplify Investments LLC are launching their Exchange-Traded Funds, or ETFs, focused on investing in companies that lead in the research and development of blockchain and invest in the technology to generate revenue. 

4. T. Boone Pickens Says Cryptocurrencies A Real Turnoff
American oil tycoon and financier T. Boone Pickens is not at all enthusiastic about cryptocurrencies. The reason is the term itself. "At 89, anything with the word "crypt" in it is a real turnoff for me," the 89-year old famed Texas corporate raider said, in a reply to a question on his Twitter account.

5. Telegram Plans $1.2 Bln ICO For Native Currency
Private messaging app Telegram is planning a $1.2-billion Initial Coin Offering or ICO to develop a blockchain to combat bitcoin and ethereum. A private token sale in February is expected to raise around $600 million, which will be the largest of its kind. 

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 

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Sergey Golubev, 2018.01.18 18:48

Ripple Daily - bounced from key support to above for the bullish trend to be continuing (based on the article)

Daily price was bounced from 0.847 support level to above for the possible bullish trend to be continuing. The price is still located above ichimoku cloud in the bullish area of the chart with the ranging within the levels.


  • "XRP has moved into the top five cryptocurrencies by market capitalization on CoinMarketCap amid their dramatic rise over the last year. The San Francisco-based Ripple was founded in 2012 as a provider for a real-time payment processing system that is based on a blockchain or a public distributed ledger which validates transactions on consensus. While Bitcoin is a digital currency based on the blockchain, Ripple is a real-time payment settlement network with a virtual currency that works on an enterprise blockchain that claims to have more than 100 customers across the globe, including American Express, Santander and UBS."
  • "Unlike Bitcoin, Ripple is not created using proof-of-work or mining in datacenters using massive amounts of electricity. Instead, each XRP pre-exists in the network and hence are able to reach network consensus faster. The total supply of XRP coins is just under 100 billion that were created at inception."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 

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Sergey Golubev, 2018.01.19 13:21

Cryptocurrency News - daily bullish reversal to be started or just a ranging within the levels? 

Daily price was bounced from 8,771 new support level to above for the low W1 level to be testing at 12,935 for the bullish reversal to be started.


1. South Korea Could Shutdown All Cryptocurrency Exchanges: Watchdog
Choi Jong-ku, chairman of South Korea's Financial Services Commission, told lawmakers on Thursday that the government is considering shutting down all cryptocurrency exchanges and not just those that violate law, the Yonhap news agency reported.

2. SEC Says Significant Investor Protection Issues Linked To Bitcoin ETFs
The Securities Exchange Commission has asked investment fund trade groups to address 'significant investor protection issues' linked to cryptocurrencies before exchange-traded-funds, that invest directly in bitcoin and its rivals or has significant exposure to them, can be launched.

3. Bitcoin Use Under Scanner In Indonesian Island, Bali
Indonesia's central bank, which issued a stern warning against the use of cryptocurrencies this month, have engaged a team to probe the trading in such currencies in the island of Bali, a popular tourist destination.

4. NYSE Parent, Blockstream Partner To Launch Crypto Data Feed
Intercontinental Exchange, Inc., the parent company of the New York Stock Exchange, has partnered with Blockstream, which deals in blockchain technologies and financial cryptography, to launch the Cryptocurrency Data Feed.

5. LightInTheBox Establishes Blockchain Technology Research Lab
LightInTheBox Holding, a US-listed Chinese online retail firm, opened a blockchain technology research lab to develop blockchain technology platforms and applications.

6. Visa CEO Says Not To Process Cryotocurrency Transactions
Bitcoin is not real money, and Visa will not process any transactions that are cryptocurrency-based, the credit card giant's CEO Alfred Kelly told CNBC. 

7. Experts Say Bitcoin Bubble Is Bursting, Value To Fall Further
As Bitcoin suddenly reversed its path to downward from a peak, a leading team of economists predicted that the digital currency has all the hallmarks of a classic speculative bubble, and that it is bursting.

8. Belarus Legalizes Cryptocurrency In A Special Economic Zone
Belarus has made cryptocurrency operations legal in a special economic zone in the country, which has a special tax and legal regime.

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 

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Sergey Golubev, 2018.01.19 20:04

Nobel Laureate Shiller Predicts Total Collapse For Bitcoin (based on the article)


  • Bitcoin may "totally collapse" though it may linger for a century, Nobel Laureate Robert Shiller said, who equaled it to the Tulip mania.
  • "[Bitcoin] might totally collapse and be forgotten and I think that's a good likely outcome but it could linger on for a good long time, it could be here in 100 years," the Yale University professor told CNBC in an interview in Davos, Switzerland.
  • Shiller, who was the joint winner of the 2013 Nobel Prize for economics, pointed out that bitcoin has no value at all "unless there is some common consensus that it has value."

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The chart was made on W1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


 
Sergey Golubev:


bitcoin will burst but there is very little chances

 

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Sergey Golubev, 2018.01.23 09:52

Bitcoin - testing 10,083/8,771 support levels for the daily bearish breakdown to be continuing (based on the article)

Daily price broke Ichimoku cloud to below to be reversed to the primary bearish market condition: the price is on testing with support levels at 10,083 and 8,771 to below for the bearish breakdown to be continuing.


  • "Retail trader data shows 76.0% of traders are net-long with the ratio of traders long to short at 3.16 to 1. The number of traders net-long is 1.9% higher than yesterday and 5.3% higher from last week, while the number of traders net-short is 0.6% higher than yesterday and 21.9% higher from last week."
  • "We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Bitcoin trading bias."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:


 

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Sergey Golubev, 2018.01.23 11:14

Bitcoin - weekly bullish ranging waiting for direction (based on the article)

The weekly price is above Ichimoku cloud for the bullish ranging within the following support/resistance levels:

  • 19,485 resistance level located in the bullish trend to be continuing if broken, and
  • 8,771 support level located in the beginning of the secondary correction to be started.

Most likely scenario for the rest of January and whole the February: weekly bullish ranging within the levels.


  • "Recent downside price rotation in Bitcoin has caused quite a bit of concern for Crypto traders and investors. This recent breakdown move represented a failure of continued strength and has, and still is, testing critical support for a bottom. There are many external factors that are driving the demand and price for Bitcoin currently. The most recent news is that Crypto ETFs may run into some regulatory issues and that fears of a continued government crackdown may crash prices. Demand is still strong from believers in Blockchain and Cryptos, though, and we believe this contraction in price may continue for a few months."
  • "As Bitcoin continues to find its roots in economic function, the Blockchain technology continues to be validated and adopted by many. The CryptoCoins themselves may become more valuable as a trading instrument as well as a futures instrument. When the ETFs hit the markets, we believe BlockChain and Cryptos will become well entrenched in society and will establish a base valuation (of sorts)."
  • "In the meantime, be prepared for some wild volatility and rotation. The lower support levels, as shown on this chart, are key to the upside potential of Bitcoin. If that level is broken, then we could see a dramatic collapse in price to test the $4000 level. Until then, we are within an $8k~10k rotational range that will continue to tighten as the Pennant formation constricts. It should make for a wild ride – either way."

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Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:

All about BrainTrading system for MT5:


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