BITCOIN: iHS triggered?

Just a couple of days ago I was writing a post about an interesting pattern in formation. It was an Inverted Head and Shoulder pattern and I told it has the potential to allow a continuation trend upwards with a target of 14500 USD.

The following was the pattern I was talking about:

And what we can see right now is that after breaking the neckline at 11760 USD the volume is increasing consistently:



Those two higher bars at the volume of the 4 Hour chart may indicate an acceleration of the price action and so it is what is exactly occurring. A good example of one of the most succeed patterns in TA, in this case it is acting as a continuation pattern on a Bullish Scenario.

The target of this pattern points right now towards a new High of the year around 14500 USD, will see how close BITCOIN will be from that level in some hours from now.

As usual, pay attention to the chart and anticipate the move in order to get the most from it.

@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.

BITCOIN: interesting Pattern…

…the one that we can see on BITCOIN chart right now and, in general, in mostly all the crypto market nowadays…

It is the famous Inverted Head and Shoulders pattern which used to anticipate a change on the price action, in this case upwards.

These kind of pattern often are identified as reversal patterns despite they could also indicate a continuation patterns as well.

What I don’t like at all is that the volume does not look to support the positive direction of the price according to that pattern so, I am afraid we are going to wait some time in order to see if BTC has enough power to cross the neckline.

The inclined neckline shows that 12000 USD can be a good entry point if the volume increases since it will confirm the end of the correction and the resume of the uptrend. If so, the target according to this pattern would indicate a rise around 14500 USD.

As usual, pay attention to the chart and anticipate the move in order to get the most from it.

@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.

BITCOIN: first STEEMLEO post and some resistance at 11300USD

I have received the LEO token airdrop, corresponding equally to amount of staked PAL tokens I have today so, 1176 PAL = 1176 LEO , that’s amazing because STEEMLEO is one of the first tribes/communities created on top of STEEM in order for “investors to talk about anything and everything related to investing.”… and I have to join YES or YES this community for sure so, I hope @timm members would do the same… as well as @cryptopassion , @ew-and-patterns , @bitbrain , @workin2005 …

So, from now on I will get paid in PAL tokens and LEO tokens besides STEEM.

If you want more information about go and read this post and join the community! It is time to make STEEM blockchain greater!!!

Also you have further and extensive information here.

Regarding BITCOIN…

As I said yesterday in my post, it is very likely that the correction is finished but still we have to confirm the breakage of the 11300 USD resistance which is acting as expected since it was also a historical resistance in the past.

The things will be clearer If BITCOIN then overpasses the 12300 USD level ( B symbol on the chart) however I am not totally confident, the volume is doing some hesitating changes and RSI is clearly not oversold so I am keeping my buying order at 9400 USD placed 4 days ago just in case.

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.

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.

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.

BITCOIN: No more historical resistance till…

…13000 USD?

In my opinion, it is clear that there are no major news explaining clearly why the Cryptomarket is suddenly behaving so bullish.

May be the final entrance of the Financial Institutions, can be the lately announcement of Facebook and its Libra coin, which I doubt it is currently moving the strings now but for sure it is giving some FOMO out there, can be also the good news coming from Russia, see “Russian Ministry of Finance Considers Allowing Cryptocurrency Trading” or perhaps the ones coming from Bank of America’s CEO on regards or getting a “Cashless Society” or a combination

Consolidation is more likely now…

Excellent week in general for the crypto market, more in particular for BITCOIN with 15% up in a week and ZCASH which is now up 37% in the 7 Days time frame, absolutely outstanding also…People sat that possibly institutions are bringing new money, which I hope it is happening, also the hype FACEBOOK LIBRA coin may affect as well despite is too early…However, I always look at the Total crypto Market chart as a whole and what I see now is that, even if we are going up day by day lately, some consolidation period is more likely to happen

BITCOIN: Two important levels to watch out

Despite the correction seems to be done, I am not satisfied at all on regards what we can see on the 4hour-chart of BTC/USD.Certainly, BTC bottomed around 7400 USD while I was expecting 7300 USD as a good entry point (see my post of 3 days ago) but the trading volume does not differ so much from the last days and even if we are upwards, this variable seems to be stagnant nowadays… You can see how different it was when we were seeing BTC growing on early May…

However, the Volume is one of the factors to take into account

BITCOIN: Expected correction on-going

Still trying to understand what is causing the drop on the market these days?

I quit already from searching the reasons long time ago, I am only stick to the Psychological aspect of the market…news supporting the different scenarios often comes later on…

For “common mortals” as we are, it is really difficult to anticipate your next move based only in news and rumors, actually what usually happens is that rumors and news come in a weirdly and sudden manner and they are only reachable in a first chance for only a few…

Normally, when you read about a rumor, the rise or

BITCOIN: Bull Flag Broken, UP!

Finally, seems that the last wave has started moving upwards with a consistent increase in volume.

Target for this movement can reach, in my opinion, 9400 USD since I am expecting a good jump here…

However, we are witnessing the end of a few 5th type waves, leading to the completion of a major one (I)…

The likelihood of experimenting a normal “Pull Back” is now much higher, this pull back would build the 2nd wave, which, for the moment, whiteout nothing the nature and power can have a good ground at 7600 USD…

But first, let’s enjoy the RISING!!!

@toofasteddie

*Disclaimer: This is just my