BITCOIN: Buy order at 9700 USD Filled…

…but still I think BTC can touch the 9400 USD support since there is still margin on the RSI to reach an oversold condition…

As I said yesterday, every drop of the market is now an opportunity for the accumulation during Bull Trends.

I have filled one of my Buy Orders at 9700 USD and it seems that BITCOIN found some support at 9660 USD, just a little below and above what I considered as the end of the A-B-C correction at 9400USD…

Volume on the 4h chart seems willing to recover also so the correction may be done, however it is not yet confirmed…

I would like to see the resistance of 11300 broken in order to get the final confirmation.

Enjoy!

@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

BTC – 02 June

 

I’m not going to write you a BTC post today, I’ve already written everything that I wanted to.

I’m just going to re-show you things in case you missed them.

This post is a loosely related to my Bitcoin post (“Let’s talk BTC”) from last Friday.

But what this post is closely related to is my Twitter feed. A note to the new and a reminder to the old: I don’t blog about everything, especially short-term price movements in crypto, metals, stock market indices etc. – but I often mention them on Twitter. I therefore advise you to follow me at: https://twitter.com/brain_bit, you know; that link at the bottom of my blog posts which you always ignore ?

No I’m kidding, I’m sure you remembered to follow ol’ Bit Brain, in which case I’m sure you’ve seen all of this before:

You saw on the weekend when I spoke about the possibility of a drop to about $10k:

 

You saw the BTC/Gold correlation (for those who still need proof that BTC is becoming a very important Store-of-Value):

 

You saw yesterday when I used diagonal Fib levels (which I still don’t see ANY other analysts using) to predict the next bottom at $9700 (today).

 

You saw how this also ties in with the last BTC market cycle (whether or not that will later prove to be relevant).

 

You saw BTC turn exactly where I predicted this morning:

 

Let’s just take another zoomed-in look at that candle wick, my Fib levels, my long-term trendline and my prediction arrow:

 

Seen better lately?

Mini-Discussion:

Ignore my narcissistic personality, that’s just Bit Brain being Bit Brain. The POINT is, I do give information on Twitter which may sometimes prove to be useful.

As mentioned in the last Tweet, I do think that BTC may have finished dropping for now, but it will take a break North of $11100 (above the 0.236 diagonal Fib) to confirm that. Being diagonal Fib levels, that figure increases daily. if I am wrong and BTC does drop below $9700, then the next support lies at $9000. Failing that, the mid-$7000s are on the cards.

A bullish Q2 to 2019 has introduced a large number of new weak hands to the market. This period of flux is caused by the weak hands shaking out while the more experienced and intelligent money buys up the BTC that the weak hands dump. It’s all part of the cycle and I welcome it. The more small dips we have, the stronger BTC can climb and the longer the bulls can run without crashing.

 

Yours in crypto

Bit Brain

All Tweets from https://twitter.com/brain_bit
All charts made by Bit Brain with TradingView

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





LTC technical analysis

LTC seen from the temporality of 1W we can observe the movement of elliot waves that has been following the price to perfection during its course, currently, the price is doing the correction of wave number four, we know that in the corrections the candles form an ABC pattern during their descent, therefore, taking into account that pattern and the support of level 61 fibonacci, the price should go down to 92 where we would have our point C, in the chart above I have indicated through a horizontal blue color the area where the price should come to then continue with the fifth wave of impulse, to complete the drawing we see in the image above we would have a structure called: diagonal leading, this type of structures make a movement ABC, these points I have traced in the graph in red, point B must come near our point four of (EW) and continue with the point C impulse, I have placed in the nearest resistance located in the 272, the price could correct and continue rising more, however, this point would be a good target.

LTC seen from the temporality of 1D we can see how the price is forming the classic ABC pattern of correction, the previous candle has broken an important fibonacci support in the 125, the current candle is testing it as resistance, the price should not have problems to continue lowering, if the price closes above that level and confirms us, we would have an invalidation and wait to see the direction the price will follow, for now I’m still short.

In conclusion, it is very possible that we have a new buying opportunity below 100 dollars with a target set at 272, LTC in 1W you can notice a cup & handle in formation within the major figure, therefore, LTC turns out to be a good investment in the long term.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

Bitcoin at New Local Lows! Where to Now?

The weekly chart closed yesterday with a nasty reversal candle. Today, as expected, we’re seeing follow through.

Screen Shot 2019-07-01 at 12.37.13 PM.png

Bitcoin has now broken below the 0.5 fib. It’s tested $10K, with a nice bounce. If you scaled that, congrats! It does look like bitcoin will make a second attempt to break $10,000. If $10,000 does break, price may quickly fall to $9,400.

Screen Shot 2019-07-01 at 12.36.10 PM.png

In today’s video I discuss where price may be heading next, key areas to watch, possible targets and so much more. I’ll also answer your questions near the end. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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BITCOIN: Every drop is an opportunity

Is the Bull market finished yet? do you think it will go further lower?

It may be go lower but personally I am sure we are in the initiation of the Bull market.

This correction was expected since long already and it is part of the accumulation process. We also have seen the Market reaching 400 Billion recently so we know the potential is there… remember that at the ATH on January 2018 we double that amount…

I am observing carefully the lower line on below chart:

It is, in my opinion, a consistent support (9400 USD) on which rebound can happens but also I think that any level below 10K will be a good entry point.

If the Market is bullish this is the way to sail the waves, however, always do your own assessment and get your own conclusions.

Enjoy!

@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

Index to Crypto with Bit Brain – Edition 2019/4

 

These Index posts always seem to build up content without me noticing it, I turn around and “BOOM!”, somehow I’m a month behind with them again! Let’s try to rectify that shall we?

As usual, I’ll start with the links to the previous “Index” posts. Bookmarking this post will therefore give you access to all of the very best posts which I have ever written!

Previous Index posts:

Index to Crypto with Bit Brain – Edition 2019/3 is the most recent Index, it was published on 10 May. It contains advice on how formally or informally to style your crypto business, precious metals information, how to buy high priced cryptos and still score, some very serious discussions about Private Blockchains and also about how you think you’re ready for decentralisation – but aren’t. Of course there is a lot more too.

Index to Crypto with Bit Brain – Edition 2019/2 was published in early April. In it you will find some posts about what I have been buying in 2019, the long overdue Part 3 of my “Diversification” series, some alternative exchanges worth looking at (rather important with Binance only semi-usable at the moment), a post about how to keep your crypto life anonymous and several other posts which have already proven to be prophetic.

Index to Crypto with Bit Brain – Edition 2019/1 contains links to some fantastic posts such as the series “No Kevin, Bitcoin will NOT bite the dust” where I debunk an argument against Bitcoin, I showed how I called the end of the bear in January and I revisited the old topic of Bitcoin ETFs. The three part (with an unofficial fourth part) series “Ripple – we need to talk” tells Ripple investors all the information that they really need to know about their pseudo-crypto. You can also find a pretty good article about ICOs and the BitTorrent Token rolled into one – probably a good read for any prospective BTT or ICO investors.

Index to crypto with Bit Brain – Edition VII – 2018 is the annual index which contains links to all of my other indices. In this Index you will also find some of my finest posts of late 2018 such as musings about DEXs, the vital Crypto Laws of Bit Brain – a must for any investor, you’ll see how to keep your crypto correspondence private, there are posts about great crypto projects like CargoX, Binance, THEKEY and UTrust and I talk about the dreaded Capitulation.

 

 

As usual I’m leaving out most of the price related and similar posts, they have little historical value and are not worth indexing; what’s left is the good stuff – and boy have we had some good Bit Brain posts lately!

Index to the latest posts:

Trustworthy Crypto Information Many exchanges lie about their trading volume. Wash trading is rampant. I often see estimates which state that 80-90% of crypto trading is wash trading. CoinGecko is doing something about it with its “Trust Score”. They are my favourite coin tracking site for this and many other reasons. Read this post, or see for yourself at https://www.coingecko.com/en

A Stable of Binance Coins – General musings Binance’s own Stablecoins: What are they? What do they mean for crypto?

The Future of Privacy Coins What do you know about Privacy Coins? What do you know about the FUTURE of Privacy Coins? This is important information for the wise crypto investor…

Crypto East vs West This is why you follow me – this is the kind of holistic, global, crypto, politics, warfare, futurist economic outlook that you simply can’t get anywhere else! This, ladies and gentlemen, is what Bit Brain does best.

Altcoin Buying Masterplan (it’s working…) I don’t tell you the names of coins to buy, I tell you the TYPES of coins to buy. Better than any altcoin investing advice you’ll find elsewhere!

Crypto Top 20 – in one paragraph apiece Just what the heading suggests – Bit Brain’s take on the crypto names you hear the most: The Good, the Bad and the Ripple. (I’m hilarious.)

Lets talk about: Facebook’s “Libra” Bookmark it; you’re going to need to refer back to it! Probably the best perspective of Libra that you’ll ever read.

Precious Metal Run Metals move a lot slower than crypto does. For that reason this TA based post gets a place in the Index. Still very relevant.

NEO news I don’t speak about NEO enough. People are still ignoring what is simply the best crypto out there. I make a very small effort to steer them towards the correct path.

 

 

SERIES

There is normally a series or two in these posts, and this post is no exception. From a writer’s perspective series posts are probably my favourite things to write. The format allows me to expand on more than what regular blog posts do.  I put a bit of extra effort into my series posts, and I’m particularly pleased with the result of my recent efforts. If you read none of my other posts, then read these:

DECENTRALISED VICTORIES:

The decentralised world is having very meaningful victories, not just in crypto, but in the whole mentality of the Western world. There IS hope! We will see great changes within our lifetimes – these posts not only tell you why, they also point out the first major decentralising changes which are already underway.

Decentralised Victories – Part 1: Introduction and the problem of Money

Decentralised Victories – Part 2: The problem of Power

Decentralised Victories – Part 3: Recent Decentralised Victories and Conclusion

THE BITCOIN HALVING EVENT

Halving events are surrounded by speculation and opinions – no facts. Litecoin is demonstrating that at the moment. Bit Brain gives you the facts.

The Bitcoin Halving Event – Part 1 

The Bitcoin Halving Event – Part 2

 

 

That brings the first half of 2019 to a close – all neatly wrapped up in four Index posts. Take a look at some old posts, much of what I write is designed to remain relevant for years, decades even. There are some very good posts tucked away in my various Indices, and I’m not just saying that because I wrote them.

 

Yours in crypto

Bit Brain

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





The Bitcoin Weekly Chart is Signaling a Reversal Lower

I’ve been keeping an eye on the weekly chart of Bitcoin and some other big cap coins.  Starting this week they all looked a bit extended and I was 50/50 on whether price would push higher.

For a while price did, but with the sell off in recent days you can see price is digesting the prior move (or maybe purging).

A Bigger Picture

Looking at this weekly chart of Bitcoin we see what is a huge reversal type candle that will be formed unless we get a sick rally in the next 8 hours.

That upper wick is one of the biggest I have seen and shows sellers came in hard above the 11,500 area, which ironically was my upside profit target when BTC pushed above 10k.

It’s hard for me to get long when seeing this type of price action on the larger timeframe.

There was a rule that I was taught often back when I was a full-time equities trader.

  • Larger Time Frames Dominate
Conclusion

This is not to say price cannot go higher in the near-term.  In fact price could rally 1k or more points and still technically not breach the reversal candle.

It is a warning signal though – that price has a higher probability of moving lower before it moves higher over the next week.

I’m trying to decide if I want to lighten my BTC position or not to be honest.

Bitcoin Drops! Bear Trap? Start of a Larger Correction?

In yesterday’s update, I told you bitcoin looked ready to make a larger move. Since that time, we’ve seen it drop over $1,000. Price found some support at the ascending support line we’ve discussed.

Screen Shot 2019-06-30 at 10.15.21 AM.png

Zooming out on the weekly chart, we can see we’re still trading above the upper Bollinger band. I’d like to see this week’s candle close above $11,500 later today. That would denote a major break above the prior resistance set back in January/February of 2018, which would likely signal continuation to the upside. As of now price has dropped below $11,500, trading at $11,100 on Coinbase.

Screen Shot 2019-06-30 at 10.17.21 AM.png

In today’s video I discuss, where price may go from here, traps to avoid, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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Classic Example of When NOT TO BUY a Cryptocurrency

When the price of a coin is pushing ever higher people get excited and want in on the action.  I suppose that is when the FOMO kicks in.

Vertical Line Equals Do Not Buy

The example for today happens to be ChainLink (LINK) which has ripped higher for several reasons, one of which is just being listed on Coinbase the other day.

Here is the chart from 10 hours ago – wow look at it go.  I better get in it’s going straight to 10 right!?!

Here is a chart from the time of this post:

And that is why you don’t buy a coins that has gone vertical in price appreciation.

Buy the dips and sell the rips!

Is Bitcoin About to Breakout?

Bitcoin continues to consolidate within a tighter range. It looks like price may make a larger move over the next 24 hours. Daily volume remains healthy, but has dropped over the last 2 days.

Screen Shot 2019-06-29 at 6.49.40 PM.png

In today’s video we’ll discuss where bitcoin’s next move may be, key areas to watch and so much more. I’ll also answer your direct questions after my analysis, which ends at the 14:40 mark in the video. If you’re not interested in hearing me address various comments and questions, you can stop the video there. I hope you find this helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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