BlogHide Resteemsyoup (51)in bitcoin • 5 years agoI gambled and I lostOf course I know that holding leveraged positions is risky and I thought I had a pretty large safety margin. Yeah well, not good enough for a coronacrash it turned out. I´m out. No more trading…youp (51)in bitcoin • 5 years agoWave ii bottom in sightWe are approaching the weekly parabolic support line which leads to over 100k in September 2021. Also, the bitcoin market cap chart is approaching its weekly support line. And the weekly…youp (51)in elliott • 5 years agoTrying to label Elliott wave iiThe wave ii correction started a bit slow, but has been picking up steem lately. On Bitfinex, today, we printed a low of $8555; which is already in our Fibonacci target area, which means it…youp (51)in bitcoin • 5 years agoWave 2 target: somewhere between $8k and $9kFinally, wave 1 seems to have topped. Wave v decided to extend itself from 9650 to 10500, almost a 1000$. It's impossible to predict how this wave 2 correction will unfold. There is of course the…youp (51)in bitcoin • 5 years agoAnother try to call the wave 1 topA quick update. I was too early in calling the top and that's not the first time. Maybe now we're there as at least we've seen a good move down today. But, this is bitcoin and you cannot be certain…youp (51)in bitcoin • 5 years agoWave 1 is complete, corrective wave 2 is nextThe move up is looking very five wave-ish. Not just on bitcoin, but also on the total crypto market and the Huobi10 Has it completed? The Renko chart has reached the previous October…youp (51)in bitcoin • 5 years agoFrontrunning the S2F modelThe breakout out of the correction seems confirmed. Please note that we are above the weekly 21 SMA, 21 EMA and 21 WMA, which tend to contain the weekly trend; as can be easily seen in the above…youp (51)in bitcoin • 5 years agoThe bull market is back!Above a chart of the total crypto market. We've found support on an important level in November and December and have now broken through the down sloping trend line from these lows in impulsive…youp (51)in bitcoin • 5 years agoLitecoin is movingLitecoin seems to be breaking out! And, looking at the weekly chart, it's about time. Just 4 days ago, there was news describing the largest capitulation of litecoin miners during the second…youp (51)in bitcoin • 5 years agoI'm moderately bearishYes, we are pushing against the red neckline of a head and shoulders reversed pattern. And yes, if we break this neckline with force then $9k is our next target. And yes, then we'll then have also…youp (51)in bitcoin • 5 years agoNot out of the woods yetWe had a nice move up yesterday, but I don't think we're out of the woods yet. Elliott wave wise this is the third leg of a correction in a downtrend with a Fibonacci target somewhere between $8000…youp (51)in bitcoin • 5 years agoBitcoin futures & options, some thoughtsThe crypto markets are very quiet this time of year. So, let's take an excursion into exploring bitcoin options & futures as there are some differences with trading options on bitcoin as opposed to…youp (51)in bitcoin • 5 years agoA new low in DecemberThis week we've seen another important bottom in December as prices decided to drop just below the November deep. On my parabolic chart above, which has a target of 100k$ in September 2021, we've…youp (51)in bitcoin • 5 years agoThe On-Balance Volume IndicatorThere are those who believe that volume precedes price. Joseph Granville was one of them and he developed the on-balance volume indicator to measure volume flows. For instance, the so-called smart…youp (51)in bitcoin • 5 years agoThe December EffectImportant tops and bottoms for bitcoin tend to occur in or around December. In fact, only the 2011 and 2019 tops manifested themselves in June. All the other major tops and bottoms were mostly in…youp (51)in bitcoin • 5 years ago"...the price of any commodity tends to gravitate towards the production cost...", Satoshi NakamotoWell, if the purpose of this drop is to scare the bulls, they've succeeded. Some are even questioning if the move up from early 2019 is actually an impulse. They argue for the December 2018 bottom…youp (51)in bitcoin • 5 years agoWave 3 progressing, part VThis is going down too fast now. I think I need to relabel as above, or something like it. The October impulse has become encircled wave x and we're no longer in a correction of that impulse but…youp (51)in bitcoin • 5 years agoWave 3 progressing, part IVSevere pressure by the bears is put on the price of bitcoin. I had expected the 61.8% retracement level to provide decent support, but we're now testing the 78.6% Fibonacci support level at just…youp (51)in bitcoin • 5 years agoWave 3 progressing, part IIIThe situation is pretty clear. We have made a impulse up (from the October 23 low to the October 26 top) and are now correcting that impulse in a falling wedge: a pattern which is very close to…youp (51)in bitcoin • 5 years agoWave 3 progressing, part IIWithin the larger wave 3, we have completed encircled wave i and are about to complete encircled wave ii. Looking at the 3-hour chart, there is some more room to the downside, as we are still…
