Topic: Bitcoin Price Update for September 14, 2016 (Read 422 times)
it's definitely a possibility to see bitcoin prices overshoot in the first attempt to challenge the ATH
Weekly chart with 2nd and 3rd screenshot shows predictive candles shooting up and tumbling back down while neural trend is pink line.
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Bitcoin Price Update for September 14, 2016
Market Commentary (BTC):
Not too much to comment on regarding price action this morning seeing as though the market remains stuck in this 600 - 610 $ near term trading range. Despite the fact that the charts look pretty good from a shorter term perspective, the longer term technicals are still exhibiting some extended conditions which could use further correcting. Having said that, we continue to want to be buyers of dips down into our ProTrade zones considering all signs are still pointing to this being a bull market consolidation.
Moving on to said charts, today we take a look at the near term setup via the 4-hour below. We can see that over the past month or so the market has been inclined to be bullish, even though we had a washout last late last weekend. Notice that price was traversing along an old uptrend line that when broken sent price back down to sub-600 $ levels (albeit only for a brief period), although this was to be expected given momentum was overbought and divergent. Also notice that SCMR is trying desperately to paint a confirmed upside reversal following last weekend's dump, but has yet to do so while candles continue to come in mixed and neutral.
As far as momentum and volume are concerned, we are still getting mixed signals from many different indicators which is a sign to us that the market is not ready to breakout or breakdown just yet. We can see that Willy and RSI are in much healthier positions than they were in last week, however they still have some room to run to the downside. Additionally, PPO remains bullish for the time being although the Stochastic is already almost officially overbought, and the 9/18 EMA cross looks to be bottoming while the 200 SMA remains in an uptrend following a reversal to the upside. Finally, the A/D line somehow continues to press higher despite the recent choppy conditions and mixed trading volumes which tells us that players are still accumulating here, however there is still a huge volume profile PoC centered around the 590 $ level so we would not be surprised to see a revisit of these lower levels prior to a longer term resolution.
Overall we remain fairly bullish considering we are still in the VST ProTrade with a target up around 620 $, however we want to keep a tight leash on this trade in case price action turns against us leading up to OKC futures settlement late tomorrow night. If a selloff materializes then we can get out with a small profit and try to reload down in the more favorable 575 $ area, but if not we are ready to hold the VST PT as long as the market has its upside bias. Longer term we remain outright bullish which means we will continue to be strong holders of our MT position off of 480 $.
GLGT!
https://www.bullbearanalytics.com/free-reports/bitcoin-price-report-for-september-14-2016
Nice explaining about the prediction of bitcoin's price, do you have plan for updating on this thread for next time? I think you must make updating daily, weekly or monthly. And i think there are many people who make updating at here. Market Commentary (BTC):
Not too much to comment on regarding price action this morning seeing as though the market remains stuck in this 600 - 610 $ near term trading range. Despite the fact that the charts look pretty good from a shorter term perspective, the longer term technicals are still exhibiting some extended conditions which could use further correcting. Having said that, we continue to want to be buyers of dips down into our ProTrade zones considering all signs are still pointing to this being a bull market consolidation.
Moving on to said charts, today we take a look at the near term setup via the 4-hour below. We can see that over the past month or so the market has been inclined to be bullish, even though we had a washout last late last weekend. Notice that price was traversing along an old uptrend line that when broken sent price back down to sub-600 $ levels (albeit only for a brief period), although this was to be expected given momentum was overbought and divergent. Also notice that SCMR is trying desperately to paint a confirmed upside reversal following last weekend's dump, but has yet to do so while candles continue to come in mixed and neutral.
As far as momentum and volume are concerned, we are still getting mixed signals from many different indicators which is a sign to us that the market is not ready to breakout or breakdown just yet. We can see that Willy and RSI are in much healthier positions than they were in last week, however they still have some room to run to the downside. Additionally, PPO remains bullish for the time being although the Stochastic is already almost officially overbought, and the 9/18 EMA cross looks to be bottoming while the 200 SMA remains in an uptrend following a reversal to the upside. Finally, the A/D line somehow continues to press higher despite the recent choppy conditions and mixed trading volumes which tells us that players are still accumulating here, however there is still a huge volume profile PoC centered around the 590 $ level so we would not be surprised to see a revisit of these lower levels prior to a longer term resolution.
Overall we remain fairly bullish considering we are still in the VST ProTrade with a target up around 620 $, however we want to keep a tight leash on this trade in case price action turns against us leading up to OKC futures settlement late tomorrow night. If a selloff materializes then we can get out with a small profit and try to reload down in the more favorable 575 $ area, but if not we are ready to hold the VST PT as long as the market has its upside bias. Longer term we remain outright bullish which means we will continue to be strong holders of our MT position off of 480 $.
GLGT!
https://www.bullbearanalytics.com/free-reports/bitcoin-price-report-for-september-14-2016
Bitcoin Price Update for September 14, 2016
Market Commentary (BTC):
Not too much to comment on regarding price action this morning seeing as though the market remains stuck in this 600 - 610 $ near term trading range. Despite the fact that the charts look pretty good from a shorter term perspective, the longer term technicals are still exhibiting some extended conditions which could use further correcting. Having said that, we continue to want to be buyers of dips down into our ProTrade zones considering all signs are still pointing to this being a bull market consolidation.
Moving on to said charts, today we take a look at the near term setup via the 4-hour below. We can see that over the past month or so the market has been inclined to be bullish, even though we had a washout last late last weekend. Notice that price was traversing along an old uptrend line that when broken sent price back down to sub-600 $ levels (albeit only for a brief period), although this was to be expected given momentum was overbought and divergent. Also notice that SCMR is trying desperately to paint a confirmed upside reversal following last weekend's dump, but has yet to do so while candles continue to come in mixed and neutral.
As far as momentum and volume are concerned, we are still getting mixed signals from many different indicators which is a sign to us that the market is not ready to breakout or breakdown just yet. We can see that Willy and RSI are in much healthier positions than they were in last week, however they still have some room to run to the downside. Additionally, PPO remains bullish for the time being although the Stochastic is already almost officially overbought, and the 9/18 EMA cross looks to be bottoming while the 200 SMA remains in an uptrend following a reversal to the upside. Finally, the A/D line somehow continues to press higher despite the recent choppy conditions and mixed trading volumes which tells us that players are still accumulating here, however there is still a huge volume profile PoC centered around the 590 $ level so we would not be surprised to see a revisit of these lower levels prior to a longer term resolution.
Overall we remain fairly bullish considering we are still in the VST ProTrade with a target up around 620 $, however we want to keep a tight leash on this trade in case price action turns against us leading up to OKC futures settlement late tomorrow night. If a selloff materializes then we can get out with a small profit and try to reload down in the more favorable 575 $ area, but if not we are ready to hold the VST PT as long as the market has its upside bias. Longer term we remain outright bullish which means we will continue to be strong holders of our MT position off of 480 $.
GLGT!
https://www.bullbearanalytics.com/free-reports/bitcoin-price-report-for-september-14-2016
Market Commentary (BTC):
Not too much to comment on regarding price action this morning seeing as though the market remains stuck in this 600 - 610 $ near term trading range. Despite the fact that the charts look pretty good from a shorter term perspective, the longer term technicals are still exhibiting some extended conditions which could use further correcting. Having said that, we continue to want to be buyers of dips down into our ProTrade zones considering all signs are still pointing to this being a bull market consolidation.
Moving on to said charts, today we take a look at the near term setup via the 4-hour below. We can see that over the past month or so the market has been inclined to be bullish, even though we had a washout last late last weekend. Notice that price was traversing along an old uptrend line that when broken sent price back down to sub-600 $ levels (albeit only for a brief period), although this was to be expected given momentum was overbought and divergent. Also notice that SCMR is trying desperately to paint a confirmed upside reversal following last weekend's dump, but has yet to do so while candles continue to come in mixed and neutral.
As far as momentum and volume are concerned, we are still getting mixed signals from many different indicators which is a sign to us that the market is not ready to breakout or breakdown just yet. We can see that Willy and RSI are in much healthier positions than they were in last week, however they still have some room to run to the downside. Additionally, PPO remains bullish for the time being although the Stochastic is already almost officially overbought, and the 9/18 EMA cross looks to be bottoming while the 200 SMA remains in an uptrend following a reversal to the upside. Finally, the A/D line somehow continues to press higher despite the recent choppy conditions and mixed trading volumes which tells us that players are still accumulating here, however there is still a huge volume profile PoC centered around the 590 $ level so we would not be surprised to see a revisit of these lower levels prior to a longer term resolution.
Overall we remain fairly bullish considering we are still in the VST ProTrade with a target up around 620 $, however we want to keep a tight leash on this trade in case price action turns against us leading up to OKC futures settlement late tomorrow night. If a selloff materializes then we can get out with a small profit and try to reload down in the more favorable 575 $ area, but if not we are ready to hold the VST PT as long as the market has its upside bias. Longer term we remain outright bullish which means we will continue to be strong holders of our MT position off of 480 $.
GLGT!
https://www.bullbearanalytics.com/free-reports/bitcoin-price-report-for-september-14-2016
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