The $5000 barrier

3 set 2017

Zooming out to the daily chart makes we wonder if it will take a while to crack the $5000 barrier. Psychologically it is a very significant number: Half way to $10000, a very nice round number.

Using correlations with random charts is not TA, but this one makes my superstitious brain wonder: twitter.com/JamieSaettele/status/904062293230669824

4 set 2017

Nota

Now BTC has touched the long term uptrend line.

4 set 2017

Nota

These drops are habit now?

6 set 2017

Nota

Let's see if this fractal plays out over the next days:

7 set 2017

Nota

We reached $4630 and bounced. BTC is currently testing support at $4480.

7 set 2017

Nota

Seems to form a wedge. Currently, I expect another push to $4700 and then a dip to $4300.

8 set 2017

Nota

Looks like the bottom is in. ETH has broken out of the downtrend, so BTC should follow soon.

13 set 2017

Nota

RSI divergence is a sign of reversal.

15 set 2017

Nota

I guess ETH just really needed that bounce at $200. Amazing reversal. And just like that BTC looks quite bullish again.

15 set 2017

Nota

That bullish wedge kinda realized, but lost too much steam.

16 set 2017

Nota

$3400 still looks likely.

17 set 2017

Nota

Did not reach $3400, but maybe another downswing comes. Meanwhile it forms a bullish wedge on a larger timeframe.

17 set 2017

Nota

Some chinese whale bought a big amount of BTC in OKCoin and started a little rally. Still, the volume is not enough for a big rally. It turned our wedge in a bull flag, though. That bull flag should retrace to $3400.

18 set 2017

Nota

Back over $4000. Half way to $5000 from $3000 three days ago.

19 set 2017

Nota

Currently forming another bull flag. After a third impulse, we often see a larger correction.

20 set 2017

Nota

Oy, that breakout failed. Time to decide, Bitcoin.

21 set 2017

Nota

Bitcoin rejected at the downtrend line, so the downtrend continues.



That $5000 barrier is far far away now.

23 set 2017

Nota

ETH has closed above its downtrend line, but BTC is still below.

25 set 2017

Nota

Breakout. Has the downtrend officially ended? I would like to see more volume.

28 set 2017

Nota

BTC seems to be due for a correction now.

However, ETH looks due for another push and they correlate...

29 set 2017

Nota

A bounce at $4000 it pretty important. If support breaks there, we might drop a lot lower.

30 set 2017

Nota

To break through $4400 will probably some serious volume.

3 ott 2017

Nota

BTC needs some upwards push soon or we have ended that uptrend.

5 ott 2017

Nota

At this point it looks totally ambiguous to me.

9 ott 2017

Nota

The market realized that Bitcoin Gold and Segway2x hardforks are coming. People imagine a similar win like with Bitcoin Cash and everybody buys BTC. People even dump their alts. This could lead well beyond $5000.

12 ott 2017

Nota

Above $5000. I expect $6000 this week.