Topic: Analysis - page 220. (Read 941582 times)
If this (from coinsight.org) is correct, I don't know, but looks legit:
I made a comparison of the current bid and ask sums on Bistamp and Huobi, with the ones during the second half of September 2014.
The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
Where do you see Huobi's total bid sum? Only if you sign up?The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
I usually use coinigy but it doesn't show the full depth chart for Huobi and OKcoin...
How come Huobi is not shown in the markets on coinmarketcap?
http://coinmarketcap.com/currencies/bitcoin/#markets
I made a comparison of the current bid and ask sums on Bistamp and Huobi, with the ones during the second half of September 2014.
The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
Where do you see Huobi's total bid sum? Only if you sign up?The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
I usually use coinigy but it doesn't show the full depth chart for Huobi and OKcoin...
I made a comparison of the current bid and ask sums on Bistamp and Huobi, with the ones during the second half of September 2014.
The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
Analysis is the way to keep our mind pleased with forced results. Since the mind is not so easily pleased, so does the analysis continue.
Any idiot drawing a line can see it will be $250. Follow the major support line. Stop using fancy bs - nobody gives a shit about it anyway, so it wont work.
A bit of nasty speculation for you all...
Bitcoin hits $200 in January
Bitcoin hits $200 in January
And why would this be nasty? I would call a 200$ bottom on the bullish side.
However, very short term a small uptrend is possible, even a fake breakout.
A bit of nasty speculation for you all...
Bitcoin hits $200 in January
Bitcoin hits $200 in January
I guess Masterluc will not show up until the price finally reaches sub-200.
Thanks for the feedback RyNinDaCleM, appreciated.
So, if I understand your remarks (please tell me if I summarized it wrong), you pointed 2 things :
- from EW rules my first C target ($300) is incorrect cause wave 5 of smaller degree, labelled (5), should at least go as far as (3)
- from EW rules my second C target (testing again $278 or ultimately $257) is correct - still - my "ultimately" is (from your experience) not correct since C can end up in between III (old ATH) and IV ($85 but lowest point inside this wave is $45). For different reasons I don't see 257 a possible breakable level but thanks for providing a classical initial target ; I didn't know about this.
Now I can see your yellow (5). All the labels were stacked up on top of each other so it made it difficult to see. That is where the first remark came from. And I should clarify, C is always 5 waves, and always follows impulse rules except if it's an ending diagonal which is still 5 waves in the form of 5 zigzags as you have drawn. So that is valid.
The second remark was more in response to the green note you made on the chart. Maybe I misunderstood it and you weren't saying that it can't go below $259, just that it shouldn't due to fibo targets/trend lines/structures.
Wave-5 does not need to make a new low. This is called truncation and it happens, especially in Bitcoin.
Your counts are fine, I just had to stretch them a bit to see what labels were there.
Feels like we need to test 300-305 again. But the honeybadger does as it pleases.
where is the master
Frantically getting rid of his Rubles.
So majority feels its gonna go south?
The $300~ support level has been tested several times in the past few months (since ~september) and such support appears to be very strong. Breaching this level will probably result in further price declines of at least $40-$50 in the near term
I think 300 is pretty strong too, but different EW counts leads to suppose a breach to 275 is also probable.
Here is a chart of mine, using EW (I'm beginner in EW analysis so feel free to criticize and give feedback) :
- check https://www.tradingview.com/v/5KWjIxbQ/ for details and more explanations
Wave-C is always an impulse, meaning 5 waves and standard impulse rules apply.
As you have your chart labeled with the pink (III), the (IV) actually can drop below the green iii according to the typical retracement of an impulsive wave. After a fifth wave is complete, the correction usually ends in the territory of the 4th wave of one smaller degree. In this case, somewhere between $259 (stamp wave-iii high) and $45 (stamp wave-iv low). It isn't an absolute rule, but it should be expected as an initial target. Since the April high is the 3 to Decembers 5, that is where to look for a bottom.
Thanks for the feedback RyNinDaCleM, appreciated.
So, if I understand your remarks (please tell me if I summarized it wrong), you pointed 2 things :
- from EW rules my first C target ($300) is incorrect cause wave 5 of smaller degree, labelled (5), should at least go as far as (3)
- from EW rules my second C target (testing again $278 or ultimately $257) is correct - still - my "ultimately" is (from your experience) not correct since C can end up in between III (old ATH) and IV ($85 but lowest point inside this wave is $45). For different reasons I don't see 257 a possible breakable level but thanks for providing a classical initial target ; I didn't know about this.
The $300~ support level has been tested several times in the past few months (since ~september) and such support appears to be very strong. Breaching this level will probably result in further price declines of at least $40-$50 in the near term
I think 300 is pretty strong too, but different EW counts leads to suppose a breach to 275 is also probable.
Here is a chart of mine, using EW (I'm beginner in EW analysis so feel free to criticize and give feedback) :
- check https://www.tradingview.com/v/5KWjIxbQ/ for details and more explanations
Wave-C is always an impulse, meaning 5 waves and standard impulse rules apply.
As you have your chart labeled with the pink (III), the (IV) actually can drop below the green iii according to the typical retracement of an impulsive wave. After a fifth wave is complete, the correction usually ends in the territory of the 4th wave of one smaller degree. In this case, somewhere between $259 (stamp wave-iii high) and $45 (stamp wave-iv low). It isn't an absolute rule, but it should be expected as an initial target. Since the April high is the 3 to Decembers 5, that is where to look for a bottom.
The $300~ support level has been tested several times in the past few months (since ~september) and such support appears to be very strong. Breaching this level will probably result in further price declines of at least $40-$50 in the near term
I think 300 is pretty strong too, but different EW counts leads to suppose a breach to 275 is also probable.
Here is a chart of mine, using EW (I'm beginner in EW analysis so feel free to criticize and give feedback) :
- check https://www.tradingview.com/v/5KWjIxbQ/ for details and more explanations
The bid side has recovered somewhat, 6h PSAR has flipped to bullish, but 15 min MACD looks bearish.
A quadruple top, yikes. Will there be another dump before a strong rebound, that is the question?
A quadruple top, yikes. Will there be another dump before a strong rebound, that is the question?
Does a classic double top usually happen before a crash, and a triple top happen before a rally?
Does a quadruple top have significance in TA?
A triple top is also bearish. Breaking support at 305$ would trigger a large dump.
AFAIK there is no quadruple top in TA. But if a breakout succeeds after this, it would look bullish.
I interpret the quadruple top as a temporary inability to break resistance, this can change tomorrow.
China still looking somewhat bullish, but with bearish divergences in small time frames.
MFI and SRSI are slowly descending from the overbought area, IMO this uptrend lost momentum.
To confirm upcoming correction, I look for 6h PSAR to flip in China (it did temporarily flip on Bitstmap at the 2k dump).
MFI and SRSI are slowly descending from the overbought area, IMO this uptrend lost momentum.
To confirm upcoming correction, I look for 6h PSAR to flip in China (it did temporarily flip on Bitstmap at the 2k dump).
strange we are going up leading up to the bitcoin bowl i guess
The bid side has recovered somewhat, 6h PSAR has flipped to bullish, but 15 min MACD looks bearish.
A quadruple top, yikes. Will there be another dump before a strong rebound, that is the question?
A quadruple top, yikes. Will there be another dump before a strong rebound, that is the question?
Does a classic double top usually happen before a crash, and a triple top happen before a rally?
Does a quadruple top have significance in TA?
A triple top is also bearish. Breaking support at 305$ would trigger a large dump.
AFAIK there is no quadruple top in TA. But if a breakout succeeds after this, it would look bullish.
I interpret the quadruple top as a temporary inability to break resistance, this can change tomorrow.
The bid side has recovered somewhat, 6h PSAR has flipped to bullish, but 15 min MACD looks bearish.
A quadruple top, yikes. Will there be another dump before a strong rebound, that is the question?
A quadruple top, yikes. Will there be another dump before a strong rebound, that is the question?
Does a classic double top usually happen before a crash, and a triple top happen before a rally?
Does a quadruple top have significance in TA?
Jump to: