... to the price point target shown no later than February 27, 2018. Could be much sooner. Time will tell.
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I would get in now. My opinion:
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I could NOT delete the post
We COULD go down more according to the 90m, 180m and 360m
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The 90m and 180n indicate ore potential downside.
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If we go up to only $2800 to $2900 and sit for a bit, it's a likely possibility it goes down again. Most certainly if it does not go to $2800, we could come down some more before heading upside again.
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Odds are "high," in my opinion, we stay within this channel. Again, my opinion.
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I did not realize I was NOT in "log" scale. I prefer log scale for the majority of my TA. Now, that BCH is in "log" scale, I can see us reaching the 1.618 FIB extension by January 21, 2018.
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I'm HONESTLY not sure if that channel I drew will hold up or not. Looking at the 60m, we may still have more downside incoming. So, if you're waiting for a potential dip further down, you just might get it.
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It could simply be another retest of the previous local bottom we had at $2,655 on Polo. Not sure.
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The 60m TF for GDAX looks like we're coming up as well:
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Excuse me, that was the 30m TF to the far right. Here is the 30m in the middle and 60m to the far right. Look at the green line below 20% turning upside and the red line about to touch the green line coming up; which indicates upside is next:
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Also, the ghost (grey) was exhausted to the downside [Because it was well below 20% at a little under 0.0%]. So, that too was a good indication of upside move was definitely coming.
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What still concerns me a bit is the 240m (4h) to the far right. There's a possibility we may have more downside pressure for a while (12 to 24 hours) before considering reversal to the upside. The 60m is only a small window of the larger picture that's seen in the 240m TF.
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By the way, just because we have indicator of more downside pressure in the 240m (4h); THAT DOES NOT MEAN we are destined to come down further. It can simply mean that if lower TF's look bullish while the 240m TF looks bearish still, that we may only go sideways within a trading range for a while before heading upside.
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The blue LSMA in the 240m is getting ever closer to 20% to indicate we're approaching an end to this downward pressure. We still have a while of more downward pressure though.
The 120m gray ghost line is well below 20% and trying to round off and move upward; which would indicate downward pressure is "approaching" exhaustion but the blue LSMA as high as it is makes me believe we still have a while yet before the downward pressure is completed. Reminder, just because we have downward pressure does not necessarily mean the local low price point will go even lower.
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BY THE WAY, the Blue LSMA in the 240m TF does NOT HAVE TO come down to 20% or lower. If it did so, it only means it's likely to be a safer trade with the knowledge of upside move should more than likely be underway.
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I added Godmode Indicator [2nd from the top in the list of multiple Godmode Indicators] to the very top of this chart. The reason I did this was to show you there is not much difference with it than my Phoenix 1.118 just below it.
Keep in mind, I went to "Format" and changed the "Inputs" for Godmode to 9, 6 and 3 and changed the boldness of each line to make them thicker in "Style." I also changed the color of the "Caution" dots from yellow to royal blue to make them stand out more on a white background.
I also clicked the plus (+) symbol [top left inside Godmode indicator] and added LSMA (Liquid Square Moving Average); THEN went to it's "Format" and then "Inputs" and changed the "Input" to 32. I also changed it's color to royal blue and made the LSMA line THICKER.
Once I did this, you should see there is very little difference between it and my Phoenix 1.118 indicator.
I shared this with those interested in using Godmode Indicator. If you decide to add this indicator to your charts, you will begin to slowly grasp (understand) what I'm referring to when I mention different colored lines and their location within a percentage range. The "percent" value is located to the far right inside Godmode.
Here's a publication to teach one a BASIC understanding on HOW to use Godmode indicator WITH THE INPUTS I SELECTED; NOT THE DEFAULT INPUTS.
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Forgot to include the chart where I added Godmode at the top. Here it is:
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This is a post to share something to Godmode Users:
When we were in a BULL trend and having dips, there were several coins (pairs) that IF I waited until the Blue LSMA got to 20% or lower, I would end up missing entry because it would turn up before 20% WHEN USING THE 4h and 6h TF's.
Here is the 4h (240m) TF to provide as an example: NOTICE the blue circles I placed DURING A BULL TREND where the blue LSMA did NOT go all the way down to 20% or lower before turning back upside and one missed a re-entry at a low price if they were waiting for the blue LSMA to get to 20%. The RED CIRCLE shows where it did go down to 20% and lower BECAUSE WE ARE IN A TEMPORARY BEAR TREND.
I "assumed" we might continue the same and it not go down to 20% or lower before turning up. I was wrong. So, I WILL MAKE SURE to pay attention to this in the future in regards to THE TREND to have a BETTER IDEA as to whether we have found bottom yet on a pair before making re-entry.
I thought this was an important "find" for those using Godmode indicator with the inputs I suggested and with the added LSMA to Godmode and changing its inputs to what I recommended.
So, those of you who made entry around $2,600 and not $2,400 here on Poloniex; my apologies if you missed the lower entry at $2,400 based off my TA. I personally don't believe you have to be worried about it not coming back up because I believe it will.
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The above chart was the 4h (240m) TF for BCH. BELOW is the 6h (360m) TF:
Posting this for Godmode Users:
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Thought I would share my thoughts on the markets using Wyckoff in this publication; rather than creating a new publication. I don't want to create a stir with those who may look at me as a "Conspiracy Theorist."
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One more comment in blue text bubble regarding 2016:
Simply wanted throw a bone to everyone about something on Litecoin...
Check out this website and the copyright on the site is 2018: litepay.us
You will notice a dropdown tab to click for "card" and another for "Accept Litecoin."
I believe they're getting geared up to release some big news for 2018. You better get some Litecoin while it's still cheap. That's my opinion.
I'm NOT creating a new chart on this announcing LONG position on it yet. Only those who have actually subscribed to my channel and navigate here are getting wind of this information.
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Current local price action on Polo looks like this may be our local BOTTOM. The blue LSMA in the 60m is well below 20% and close to turning back upside:
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Looks like it's about to go up AGAIN. All of this continued dumping has me wondering if whales are using all of their FREE BCH to fund their pump of XRP and STELLAR. I said that to say this: We "could" go down one more time after this move up before we stand a chance of STAYING up above $2600.
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4 minutes remaining on the current 30m Candle. We should go up within the next 10 minutes to 1 hour 30 minutes in my opinion.
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If you have seen my recent BTCUSD predictions, it's possible BCH can do similar. Meaning, it could go down to a range of $1,600 to $1,900. Not certain of this though. I sold mine.
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I'm posting this message in a couple more of my publications than just this one. So, if you get multiple notifications, it's the same message being posted:
It certainly looks tied to Bitcoin. He keeps calling for Bitocoin to go down so I assume BCH is also going to go down with it in the short term. He also offloaded his BCH days ago. There were multiple opportunities to offload BCH and get into (Ripple or RaiBlocks), wish I would have taken one of those instead of watching this slow ride down. I assume we won't get anything good until the next pump.
Correct. Load up on some TRON (TRX), ADA, PPT, SALT... My opinion.... These are long term holds for me.
CrytoCurt
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Regarding the Blue LSMA in GOD mode, which time interval is the best to look at to determine an entry point? I noticed it changes positions up and down the scales as change the time intervals between 30m, 15m, 5m, 3m, even 1m.
Correct... it will change. The lower TF's are used more for scalping when the volume is there to justify scalping [BUT NOT ON MARGIN]. The lower TF's are also used for more precise entry and/or exit WHEN you see the blue LSMA in the higher TF's approaching 80% and higher OR 20% and lower.
The green line and ghost line are used in ANY TF to get an idea of when a particular move is approaching exhaustion and about to reverse. However, the lower TF's you go, it's likely at times to see the Blue LSMA hang out above the 80% mark for a while during a perma-bull move OR it can hang out at the 20% or lower during a perma-bear move. Especially, if you're looking at the 5m and lower TF's.
If you looked at a 240m TF [for example] you don't see very many waves as it moves up or down. You see smaller waves in smaller TF's. You might call those waves "Stair Stepping" [Whether they be steps going up or steps going down]. You can choose to trade those steps [Using the 5m TF as a compass in conjunction with the 15m TF]. However, you have to keep in mind which direction those stair steps are going. Are they going UP or DOWN. THAT"S WHEN it's a good idea to use the 240m and 360m to get a better idea of whether we have a bull trend or bear trend.
Jour
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Hi, THX, I like your explanations; They always have sense
I just noticed something with Godmode when using the 4h and/or 6h TF's to know when we found bottom on a pair during a temporary bear trend. The update is above.
Jour
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@ProwdClown, THX, I think that we are close to the bottom (time frame)
Yes sir, I believe "more than likely" we found bottom and we are now simply waiting for the downside pressure to subside and sentiment (demand) to increase to overcome supply again.