The Litepresence Report on Cryptocurrency

If it drifts down and bounces off $330 by Thanksgiving then I am thinking this might be the tail end of the last corrective wave. My outlook for the next 4 months is very bullish. Just going based off the simplest charts on the log scale, I think everyone will be expecting a significant rally or a bubble. Could end up being a self-fulfilling prophecy
 
Crashland said:
If it drifts down and bounces off $330 by Thanksgiving then I am thinking this might be the tail end of the last corrective wave. My outlook for the next 4 months is very bullish. Just going based off the simplest charts on the log scale, I think everyone will be expecting a significant rally or a bubble. Could end up being a self-fulfilling prophecy
Click to expand...

I just have this feeling someone like the Feds are manipulating btc at the moment to keep it volatile. Of course the Feds have unlimited resources from your bank account and mine to keep btc as low as possible. I'm hoping for a rally myself, but time will tell.
 
well defined descending triangle on the daily chart. Bearish outlook in the short medium term very tentative long term support exists at the bottom of the triangle around 370ish on bitstamp which coincides with the much larger descending triangle pattern from the AtH.

this correction is far from over IMO. You've got little to no support under 370 so I expect a quick ride back down to the 100% retrace on the medium term counter trend launch pad of around 310 level and a possible bounce from there.

340's mid next week

and start off December around 310ish with a set up to make a run at the 260 coming out party peek by the beginning of the year.

I think we retest that 275 print from the first week of Oct. in the beginning of the year. I also think that doesn't hold up and we get down in the mid to low 250's 1st quarter 2015.

*Edit* I think we really need to dip below 200 for the correction to have run it's full course and really test this market.
 
here is a nice picture for you. Book it :)

BzFRguR.jpg
 
muh_roads said:
Yeah we have a triple bottom.

I think newbitech is correct, but there still may be an up wave in play before that happens.
Click to expand...

Triple bottom? Where? You know those things aren't confirmed until they break the neckline, right?

Here's my latest chart. Good buying opportunity in the $350s, just not sure how far up it will go. $415 could be retested.

https://www.tradingview.com/v/fGGUeUjV/
 
PaulConventionWV said:
Triple bottom? Where? You know those things aren't confirmed until they break the neckline, right?

Here's my latest chart. Good buying opportunity in the $350s, just not sure how far up it will go. $415 could be retested.

https://www.tradingview.com/v/fGGUeUjV/
Click to expand...

Yeah my comment became old news within hours...lol This is getting pretty volatile again for sure.

Sorry I follow Bitfinex now instead of Bitstamp. They seem to lead in USD volume. I don't trade there, just follow since they seem to be the 2nd market mover "predictor" if you follow the macd waves on 1m. The one everyone follows seems to be OKCoin CNY. China owns 60% of the BTC, supposedly. After following macd trends on the 1m I've noticed you can stay ahead of the Chinese market if something big is about to move.

I'm not trading it. Just taking notes.

On Bitfinex 4H it bounced once, then 2nd bottom was almost the same as the first...mid 360 range. It looked like there was going to be a 3rd bottom in the same spot last night but then it broke thru to where we are now.

BTW, you aren't the only chartist out there that is saying this is bullish. :) People are calling this a Wolfe Waves Pattern?

Nice updates on Tradingview. I'm following.
 
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muh_roads said:
Yeah my comment became old news within hours...lol This is getting pretty volatile again for sure.

Sorry I follow Bitfinex now instead of Bitstamp. They seem to lead in USD volume. I don't trade there, just follow since they seem to be the 2nd market mover "predictor" if you follow the macd waves on 1m. The one everyone follows seems to be OKCoin CNY. China owns 60% of the BTC, supposedly. After following macd trends on the 1m I've noticed you can stay ahead of the Chinese market if something big is about to move.

I'm not trading it. Just taking notes.

On Bitfinex 4H it bounced once, then 2nd bottom was almost the same as the first...mid 360 range. It looked like there was going to be a 3rd bottom in the same spot last night but then it broke thru to where we are now.

BTW, you aren't the only chartist out there that is saying this is bullish. :) People are calling this a Wolfe Waves Pattern?

Nice updates on Tradingview. I'm following.
Click to expand...

Thanks. I never use the 1m time frame, though. There's just way too much noise.
 
RonPaulIsGreat said:
I predict it will go up or down in the near term with a high probably of going down or up in the mid to long term.
Click to expand...

That one has my head spinning. That I do know, there is a high probability of going up or down in the near future. Just which direction is what I would love to know :))))
 
Dianne said:
That one has my head spinning. That I do know, there is a high probability of going up or down in the near future. Just which direction is what I would love to know :))))
Click to expand...

I don't believe in short term trading unless trading *is* your job, because if it isn't your job, then there are others who do make it their job and will do it better than you. I try not to give people short-term advice, but at this point I would say for people looking to enter and currently have no bitcoins, the current valuation looks very attractive with a long term horizon. In my opinion, it is very unlikely for the value of bitcoin in 5 years to be anywhere in the range $10-$700 -- I think it is very likely to either catastrophically collapse, or more than double in that timeframe, in which case it could be worth more than a few multiples of what it is now. It's like buying a stock option. But whatever you do, if you are speculating in bitcoin, know your plan in advance and never panic-sell or panic-buy
 
Crashland said:
I don't believe in short term trading unless trading *is* your job, because if it isn't your job, then there are others who do make it their job and will do it better than you. I try not to give people short-term advice, but at this point I would say for people looking to enter and currently have no bitcoins, the current valuation looks very attractive with a long term horizon. In my opinion, it is very unlikely for the value of bitcoin in 5 years to be anywhere in the range $10-$700 -- I think it is very likely to either catastrophically collapse, or more than double in that timeframe, in which case it could be worth more than a few multiples of what it is now. It's like buying a stock option. But whatever you do, if you are speculating in bitcoin, know your plan in advance and never panic-sell or panic-buy
Click to expand...

Yeah only look at the 4H chart, IMO. Maybe the 15M if you are trying to get in and can sorta get a feel for the up/down macd waves.

prediction...
Whales are eating stop losses. We touched 340's...I'm wondering if we'll bounce here to 370's before falling back again...
 
Crashland said:
I don't believe in short term trading unless trading *is* your job, because if it isn't your job, then there are others who do make it their job and will do it better than you. I try not to give people short-term advice, but at this point I would say for people looking to enter and currently have no bitcoins, the current valuation looks very attractive with a long term horizon. In my opinion, it is very unlikely for the value of bitcoin in 5 years to be anywhere in the range $10-$700 -- I think it is very likely to either catastrophically collapse, or more than double in that timeframe, in which case it could be worth more than a few multiples of what it is now. It's like buying a stock option. But whatever you do, if you are speculating in bitcoin, know your plan in advance and never panic-sell or panic-buy
Click to expand...

You're right about the panic buying/selling. That is what really cost me dearly over the past year :(( .
 
Hello, it's been a long time. Been running some TA services. Here is what I suspect:

http://www.coinstreetnews.com/2014/11/bitcoin-btc-nov-18-2014/

basically a scoop up into a distribution wave in early december and then down to 224ish. I picked the flash crash and general bottom based on a unique indicator. I think feb 27, and aug 25th will provide interesting results. I think the 27 could be BTC bouncing out of the depression phase into a rally. August 25th might me the DOW, S&P top so many have been waiting for.

I always mean to come here more, but i always run out of time. hit me up on the website or twitter some time.
https://twitter.com/djthistle01

cheers.
 
Dianne said:
That one has my head spinning. That I do know, there is a high probability of going up or down in the near future. Just which direction is what I would love to know :))))
Click to expand...

My vote is up right now. Black Friday coming up, BTC auction on Dec. 4th. Could confirm a new bull market. This would not be a bad place to buy longer term.
 
PaulConventionWV said:
My vote is up right now. Black Friday coming up, BTC auction on Dec. 4th. Could confirm a new bull market. This would not be a bad place to buy longer term.
Click to expand...

Do you think we might see high $200's before the bull market takes off? I was wondering if peeps would be selling for Christmas cash and the btc auction would flood the market a little?
 
Dianne said:
Do you think we might see high $200's before the bull market takes off? I was wondering if peeps would be selling for Christmas cash and the btc auction would flood the market a little?
Click to expand...

I think the probability of that happening is becoming less and less. The long term uptrend line is already in that region right now and we are convincingly breaking through the long-term downtrend as we speak, as I show here:

https://www.tradingview.com/v/Naj51Awa/

Also, I haven't put this in an idea yet, but as you know I use lunar cycles as an indicator sometimes. I noted how the three full supermoons this summer, which are normally bullish, had no effect on the price, meaning the downtrend would continue for quite some time, which it did. After that, the moons seemed to fall back into sync again, full moon up, new moon down, but this latest new moon seems to have had no effect on the price, which leads me to think that the bull market could last quite a bit longer. Look for parabolic moves. If it starts going up really, really fast, then that's when you should sell. Don't buy on a parabolic up unless you know what you're doing. If we get to the point where we're breaking all-time highs, then it's really anybody's guess where we turn around. Volume is the best indicator in that situation and I'll try to let you know if I think it's a good time to sell, but for now, I think we're going up.

Remember, though, trading is a risky business and this is not investment advice. I'm just letting you know what I think.
 
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