Forecast and levels for Cryptocurrencies - page 15

Sergey Golubev
Moderator
109906
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2018.02.15 09:15

Crypto News - BTC/USD daily rally to be started; 13,000 is the key for the daily bullish reversal (based on the article)

Bitcoin daily chart by Metatrader 5

  • "Bitcoin seems to have completed yet another high-low cycle over recent months, with the cryptocurrency falling precipitously from an all-time high just shy of $20,000 in mid-December 2017 to under $6,000 earlier this month, before recovering to around $9,000 currently. While interest in Bitcoin has definitely fallen from the peak levels seen late last year, we estimate that the Bitcoin still warrants a price of around $10,000 based on our interactive Bitcoin Price Estimator using the average activity level for year-to-date 2018 as the inputs. This represents a figure about 15% higher than the current Bitcoin price."
  • "Accordingly, a key starting point in trying to value a cryptocurrency is to try and gauge how “visible” that cryptocurrency is. Now, there are several factors that affect visibility, like marketing & PR efforts undertaken, number of exchanges the cryptocurrency is listed on, and even the media hype surrounding the cryptocurrency. But at the end of the day, if more people use a particular cryptocurrency, it is bound to be valued higher – a notion supported by Metcalfe’s Law. Additionally, if two cryptocurrencies have similar number of users, but the volume of transactions carried out in Cryptocurrency A is well above that for Cryptocurrency B, then Cryptocurrency A should be valued higher."
  • "We believe the recovery in Bitcoin prices over the last few days could mark the beginning of a fresh rally in the cryptocurrency – fueled by a steady increase in the number of users as well as transaction volume each month this year. Our analysis forecasts an average increase of about 8% each month in the number of unique addresses over the rest of the year, accompanied by a roughly 10% increase in transaction volume each month over this period. This indicates a potential price in excess of $25,000 by the end of the year – representing a gain of almost 200% over the next ten months. Of course the price depends on much more than these fundamental factors, so we will have to wait and see how the currency performs."

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Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

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Same systems for MT4/MT5:

The beginning

  1. ASCTrend system, the beginning, part #1
  2. ASCTrend system, the beginning, part #2
  3. ASCTrend system, the beginning, part #3
  4. ASCTrend system, the beginning, part #4 
  5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
  6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After

  1. The main AscTrend thread is this one.
  2. Asctrend indicator in depth 
  3. ASCTREND SYSTEM summary (good EAs included) 
  4. Brainwashing system/AscTrend system (MT5) - the thread  

Sergey Golubev
Moderator
109906
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2018.02.16 08:41

Crypto News - Litecoin: daily bullish reversal; 234 is the key (based on the article)

litecoin daily chart

  • "Litecoin lit up the board with a 30%+ gain yesterday, and tacking some more on today. On Monday, we made note of key reversals in the cryptocurrency sector, and that they likely pointed to higher prices, but the rally has exceeded short-term expectations."
  • "The break above 210 has the 257/270-area in focus, and if the rally really gains steam resistance beyond that area doesn’t clock in until over 300. At the moment, buying into the up-move doesn’t hold the best risk/reward, but momentum favors longs until we see a strong reversal in this week’s surge."

==========

Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

==========

Same systems for MT4/MT5:

The beginning

  1. ASCTrend system, the beginning, part #1
  2. ASCTrend system, the beginning, part #2
  3. ASCTrend system, the beginning, part #3
  4. ASCTrend system, the beginning, part #4 
  5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
  6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread

After

  1. The main AscTrend thread is this one.
  2. Asctrend indicator in depth 
  3. ASCTREND SYSTEM summary (good EAs included) 
  4. Brainwashing system/AscTrend system (MT5) - the thread  

Chris Mukengeshayi
1544
Chris Mukengeshayi  
Sergey Golubev:

Mr Sergey, I would like to ask you, what are you point of view in regard to Dash and Bitcoin? will they still carries with the uptrend?

Will Dash reach the $ 800.00 ?

Will Bitcoin reach the $ 13 000.00 ? 

Sergey Golubev
Moderator
109906
Sergey Golubev  
Chris Mukengeshayi:

Mr Sergey, I would like to ask you, what are you point of view in regard to Dash and Bitcoin? will they still carries with the uptrend?

Will Dash reach the $ 800.00 ?

Will Bitcoin reach the $ 13 000.00 ? 

If we look at the daily timeframe for BTC/USD so the price is below Ichimoku cloud (it means: the price is on bearish area of the chart).
The rally as a secondary trend was started (rally = local uptrend within the global downtrend).
If the price breaks 12,832/13,791 levels to above on close daily bar so the daily reversal to the bullish trend will be started (good to open buy order).


Sergey Golubev
Moderator
109906
Sergey Golubev  

if we look at weekly timeframe (up to the June this year) so the price is on bullish area of the chart with the secondary correction to be started (correction = local downtrend within the global bullish trend).

The the weekly bearish reversal levels are very far from the market price. It means that if everything will be going like that so there is no any probability for the bitcoin to be reversal to the bearish trend in tge medium term situation (up to June this year for example).


Sergey Golubev
Moderator
109906
Sergey Golubev  
By the way, the price for BTC/USD is still on strong uptrend in the long-term situation up to the edn of this year for example.
Because the correction just started this month for this MN1 timeframe.

So, nothing special for bitcoin ... floating within the levels waiting for some "very good news" or some "very bad news" ... 
Sergey Golubev
Moderator
109906
Sergey Golubev  
And it is very similar situation with Dash (DSH/USD)
Chris Mukengeshayi
1544
Chris Mukengeshayi  
Sergey Golubev:

If we look at the daily timeframe for BTC/USD so the price is below Ichimoku cloud (it means: the price is on bearish area of the chart).
The rally as a secondary trend was started (rally = local uptrend within the global downtrend).
If the price breaks 12,832/13,791 levels to above on close daily bar so the daily reversal to the bullish trend will be started (good to open buy order).


Sergey Golubev:

if we look at weekly timeframe (up to the June this year) so the price is on bullish area of the chart with the secondary correction to be started (correction = local downtrend within the global bullish trend).

The the weekly bearish reversal levels are very far from the market price. It means that if everything will be going like that so there is no any probability for the bitcoin to be reversal to the bearish trend in tge medium term situation (up to June this year for example).


Thank you very much for your good point of view, I really appreciate as it brought good light to my view in regard to the Bitcoin and the Dash market.

Chris Mukengeshayi
1544
Chris Mukengeshayi  
Sergey Golubev:
By the way, the price for BTC/USD is still on strong uptrend in the long-term situation up to the edn of this year for example.
Because the correction just started this month for this MN1 timeframe.

So, nothing special for bitcoin ... floating within the levels waiting for some "very good news" or some "very bad news" ... 
Sergey Golubev:
And it is very similar situation with Dash (DSH/USD)

Wow thank you very much, so that mean I can still hold my long positions which I had open last weeks :-) :-), thank you very much.

Sergey Golubev
Moderator
109906
Sergey Golubev  

Interesting correlation found - between BTC/USD or LTC/USD and USD/CAD/
We know that canadian dollar is correlated with Crude Oil so there is some idea that this it is correlated with cryptocurrencies as well (just a raw idea sorry):

correlation