BTC/USD - Further Correction Before Resuming Uptrend??

8 janv. 2018

I'm bullish on BTC, but believe we will see further correction to the 12-11K range (possible lower) before retesting 18K and above areas.

On the 3HR chart and below, price action has moved below the 200 EMAs signaling to me downward pressure.

If we break 14-13.5K area and get a close on the 4HR or daily, that should signal another leg down. I'll be monitoring to see how this plays out.

Full disclosure, i picked up some BTC this morning on the spike to 14,000. Look to enter again if we go lower.

9 janv. 2018

Transaction en cours

So it's just about 9PM here in SoCal. We are still below the 200EMA on the 1HR, 45M, 30M, and 15min. We've broken to the upside on the 2HR, so will need to see if that holds and can gets the lower time frame back above the 200EMA.

I for one think will get a some action north, but will continue down to the 14-13.5K range by morning. Personally, i'm looking for that move to 12-11K range.

So here is a random thought i had this evening while walking my dogs. Which in a way kind of supports my thought on BTC moving a bit more south.

So going into the close of 2017, crypto was BIG news which as we all know resulted in tons of new investors and new money coming into the market. We can see this by many exchanges putting a hold on new accounts.

So for those that did get in (and i'm sure there where a ton) that FOMO was over powering and they were just looking to buy buy buy. Many likely got in on BTC (only crypto they were aware of) at the top before the corrections we've been seeing. So now all those folks are likely sitting negative to scare to get out with out any money to buy in at lower prices.

The point being... with all that new money now in negative they are in positions where can't buy without selling at a lost to re-enter. Those who have been in are taking profits and looking for better re-entry prices. This is limiting the buying pressure to really push back north. My guess is that institutional money to are looking at better pricing and while 15K is not a bad (IMO), but 12-10K would be that much better.

I know random... and probably doesn't make a ton of sense?

May the profits be with you!

9 janv. 2018

Note

9 janv. 2018

Note

Price is below 200EMA on 3HR Chart and below.

We are testing a push below on the 4HR and if we close below, i believe we'll see a move down into a support zone formed 12/22 through 12/30 of 2017.

I think current price is a great buy, but think we can also see more downward movement to the 12K range.

Think about cost dollar average when entering, so if you buy now, don't use up all your capital... save a little for a possible buy in lower. You'll think yourself later.

10 janv. 2018

Transaction en cours

4HR - Price action has moved below 200EMA
And we are below on 3,2,1HRs, 45,30,15min charts.



Testing support level now

10 janv. 2018

Note

I mistakenly cleared all my drawings on my chart, so i'll need to update that later.

however, i did toss on two trendlines, which price action continues to respect.

On the 4HR, price action is testing the 200EMA, so will need a sustained break here for upward momentum. However, I think we need a clear break of close on the daily above 15,200 to see price really move north.

I'm actually expecting price to move 13,200 possibly 12,500 over the next day or two.

11 janv. 2018

Transaction en cours

So we hit my expected move down to $13,200 and missed my 12,500 call by $300 on the current candle forming, as i write this update.

I still expect price to move lower , as of the time i'm writing this update. I think we'll see a move to 12k tonight and over the next day or so we might possibly see 10,800-10,500.

Nothing is ever exact in trading, but i expect we see the 11-10 range before we see that 19-20k again.

11 janv. 2018

Transaction en cours

Chart for the write up above.

17 janv. 2018

Transaction en cours

What a day it's been on BTC. We've moved down and through my call on a range of 10,800 - 10,500 on BTC from Jan 10th.

Based on what i'm seeing at the moment, i believe we'll see another slight move down 9K and below into my zone on the chart labeled as weekly .786, which aligns with a fib extension into this zone. MAs on all charts and indicating further move down and to be honest, i would not be surprised to see a bump down below 8k. At these price and certainly any price lower... it's time to buy buy buy :)

I personally don't don't trade BTC in general, as most of my positions are in Alt coins, but i do what the chart. if i had to say, we'll probably see a bottoming out around 8k, see some consolidation (accumulation of positions) and then a move back up from this level.

17 janv. 2018

Note

Chart for the previous update