A_Cryptastic_Mind

Bitcoin adventures - long or short?

BITSTAMP:BTCUSD   Bitcoin / Đô la
Time to go back to the basics and apply the KISS principle. Bitcoin             is having great adventures again, but what can we expect going forward - just a quick 5 - hopefully educational - cents to complement other authors' analysis.

Here above a relatively basic chart on the daily tells us a couple of things:
--> The MACD is nearing quite the bullish cross. Every time this happened in the past, a nice gain followed.
--> The RSI is generally aligned with the MACD, it shows us relatively clear confirmations of the buy signals. Also in this case.
--> CCI is not shown but is in line with the RSI (currently quite strongly in the oversold region)
--> We are at the lower end of the Bollinger bands (but note that the lower boundary of the band is still in a negative trend)

So... The daily chart ALMOST tells us to buy (not yet, but we are close). BUT: important remark: we also have to look at the weekly chart, and... that one tells us a different story! The MACD there is currently closing quite the death cross, and we are just above the half line of the Bollinger bands , which would imply more room to fall is not impossible.

In general, I would assume that this could more or less be translated into: some more blood, then a nice upward recovery, and then some more blood. Also look at how the Fibonnaccis interact in this story. On the daily, the 50% level was tested yesterday. Today, we see a test of the 61,8% level. Probably the most prudent way would be to start accumulating a position gradually, taking advantage of any further dips (or if the trend starts to show us clearer skies, on the dips in the upward channel), but remain somewhat at the sidelines, keeping dry powder. Especially for the ones intending to hold for some time.

Note that this is by no means to be considered as formal investment advice
Bình luận: Would be great if someone could complement this with a good old EWT (Elliot Wave Theory) analysis!
Bình luận: Death cross in the MACD weekly:
snapshot
Bình luận: Still waiting for the buy signal, but closing in on the daily with regard to MACD bullish cross :)
Fully Agree with your point of death cross and RSI on weekly chart. I is clearly indicating bearish signs
snapshot
Phản hồi
@Crypto-King, great!
Phản hồi
For the ones looking for a way to gain money on the down trend, don't hesitate to look at Sean's analysis either (love the way he uses the Gann square projections)

Phản hồi
A_Cryptastic_Mind A_Cryptastic_Mind
@SEAN_VENGAN - hope you don't mind me making publicity for your analysis :-D
Phản hồi
Btw - link to my previous post on BTC
Phản hồi
For the ones interested, I also liked this author's analysis:
(or how the Fibonnaccis interplay! :-) )
Phản hồi
Tiếng Việt
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
日本語
한국어
简体中文
繁體中文
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng biểu đồ Điều khoản sử dụng Người điều hành Giải pháp Website & Môi giới Widgets Thư viện biểu đồ chứng khoán Yêu cầu tính năng Blog & Tin tức Hỏi đáp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh hồ sơ Tài khoản và Tính phí Tickets Hỗ trợ của tôi Liên hệ hỗ trợ Các ý tưởng đã xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất