Forecast and levels for Cryptocurrencies - page 20

Chris Mukengeshayi
1703
Chris Mukengeshayi  
Is this week the down fall of Bitcoin?
Sergey Golubev
Moderator
113718
Sergey Golubev  
Chris Mukengeshayi:
Is this week the down fall of Bitcoin?

Bitcoin is on breakdown for now for daily timeframe (bearish breakdown), and it is the correction within the bullish for weekly timeframe.
And it is correction (local downtrend within the general uptrend) too in long-term situation (monthly timeframe).



Chris Mukengeshayi
1703
Chris Mukengeshayi  
Sergey Golubev:

Bitcoin is on breakdown for now for daily timeframe (bearish breakdown), and it is the correction within the bullish for weekly timeframe.
And it is correction (local downtrend within the general uptrend) too in long-term situation (monthly timeframe).



Do you think it will open room for the $ 1200.00 or $1800.00 if it ever break below the $ 5 600.00 or the $ 5 400.00

Sergey Golubev
Moderator
113718
Sergey Golubev  

5,870 and 5,000 are the key levels.
yes, the situation may be changed if the price breaks 5,870 and especially 5,000: the price will have new support levels to be below 5,000.
but anyway - I do not think it will soon be opened room for 1,200.00 or 1,800.

I think, the first we should monitor D1 timeframe: the bearish breakdown should be stopped and the ranging movement should be started, and we will see the levels after that to watch.

So, it is too early to say about 1,800 now: first of all - the price should break 5,000 level to below on close daily bar, and on close weekly bar after that. 

Sergey Golubev
Moderator
113718
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2018.03.31 07:50

Crypto News - Bitcoin may finally be reaching the bottom of its bear run (based on the article)


  • "To cryptocurrency enthusiasts, this might come as a welcome hypothesis—with Bitcoin hitting a 50-day low today at $6,630 USD—though Godbole indicates that it's probably going to get worse before it gets better, speculating that BTC will fall in the $6,600-$6,000 range over the weekend."
  • "BTC tends to reverse course every time the relative strength index (RSI) drops to or below 30.00, according to historical data.... As of writing, the relative strength index is close to that mark, at 32.00."

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The chart was made on weekly 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:


Chris Mukengeshayi
1703
Chris Mukengeshayi  
Sergey Golubev:

5,870 and 5,000 are the key levels.
yes, the situation may be changed if the price breaks 5,870 and especially 5,000: the price will have new support levels to be below 5,000.
but anyway - I do not think it will soon be opened room for 1,200.00 or 1,800.

I think, the first we should monitor D1 timeframe: the bearish breakdown should be stopped and the ranging movement should be started, and we will see the levels after that to watch.

So, it is too early to say about 1,800 now: first of all - the price should break 5,000 level to below on close daily bar, and on close weekly bar after that. 

You are very correct.

Marco vd Heijden
Moderator
12526
Marco vd Heijden  

Well it bounced off @ 7K for the 4th time.

You would have to remember that in order to pump and dump, price has to go back up.

Otherwise without a pump there can't be any dump so this is a necessary part of the mechanism. 

Sergey Golubev
Moderator
113718
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2018.04.07 11:09

Crypto News - Bitcoin daily bearish breakdown to be continuing; 6,598 is the key (based on the article)

Bitcoin/USD daily Ichimoku chart

  • "A Wall Street analyst has reportedly predicted a massive selling of cryptocurrencies to U.S. dollars in the lead up to the mid-April tax filing deadline in the United States. Thomas Lee, head of research at Fundstrat Global Advisors, estimates that U.S. households likely owe $25 billion in capital gains taxes for their cryptocurrency holdings. This is in addition to crypto exchanges, which are liable to pay income taxes."
  • "The crypto markets reported near 50 percent losses across Q1 2018. It was the worst first quarter performances for Bitcoin and Ethereum. However, anyone who capitalized on the crypto market boom in December 2017, when Bitcoin hit the record price of close to $20,000, will need to pay capital gains tax on their earnings."

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The chart was made on weekly 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:


Sergey Golubev
Moderator
113718
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2018.04.13 10:51

Crypto News - Bitcoin: rally within the daily bearish (based on the article)

Bitcoin/USD chart by MT5

  • "Bitcoin: Retail trader data shows 72.0% of traders are net-long with the ratio of traders long to short at 2.57 to 1. The number of traders net-long is 5.3% lower than yesterday and 4.0% lower from last week, while the number of traders net-short is 4.9% higher than yesterday and 7.4% 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. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Bitcoin price trend may soon reverse higher despite the fact traders remain net-long."

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The chart was made on weekly 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:


Chris Mukengeshayi
1703
Chris Mukengeshayi  
Sergey Golubev:

Mr Sergey, regarding post #199 

Where do you read or how do you determine the net-long and net-short percentages of traders's positions?