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BTC (Bitcoin) short term forecast

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Jan 17, 2018.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi everybody,

    as you were asking a lot, why we ignore BTC in our analysis. I've decided to put here short-term technical forecast for BTC. It is interesting how popular this topic will be. So, please - make comments and put your own view on BTC perspectives.

    BTC_Daily_17_01_18.
     
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  2. yorkey181

    yorkey181 Recruit

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    Thanks very much for this Sive. Been watching these patterns develop on several cryptocurrencies and wondering how much the newness of the crypto market and lack of longer term data impacts on their reliability? Also seems to be more sentiment than fundamentals driving this... so I wonder it that alone might push it even lower than what you've marked on the chart?

    As you say, very interesting to watch it all play out. My brokers terms aren't good for cryptos, so can't see the value in trying to trade the intermediate moves, but a long term buy at the bottom is very appealing!

    Thanks again for wall your efforts here!
     
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  3. Vlado

    Vlado Recruit

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    Thanks for report,I think digital carency is a future,bitcoin is the new version of global market [gold]
     
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  4. oficiuljuridic

    oficiuljuridic Recruit

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    Hello Sive,
    I have identified a perfect Buy 222 Gartley on BTCUSD daily chart with D point (point where to buy) at 8199.90. What do you think about chances to work this pattern? I atached the chart.
     

    Attached Files:

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  5. megabizland

    megabizland Private

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    So, according to you, bitcoin will go deep into $7000 per coin? Hmm interesting...will keep this in mind. Thanks Sive
     
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  6. oportunis

    oportunis Private, 1st Class

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    BTC is driven by sentiment more than by technical pattern. News from Asia pushed it lower. The same was last year, almost the same week China released anti crypto statement and it dumped. It looks more like a manipulation to get cheap BTC. Check the history of BTC in January: https://ibb.co/eLqTRm
     
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  7. Brett Reynolds

    Brett Reynolds Sergeant Major

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    I have, like everyone else been tracking Bitcoin for a while. The gains made over last 2017 were just unreal! It was inevitable that there would be a 'correction'..sooner or later! It was interested to note that Bitcoin 'peaked' on the 18th of December with a 'Gap Up' and 'Doji' on the Daily chart! That same week..Gold really started to Rally.
    I will be watching the Technical levels on Bitcoin now to see if i can buy 'low'! I watched an interesting You-tube' video about the new Software protocols that will make Bitcoin transactions even faster and more open! A Lot faster. Something called 'Hashgraph' & 'Gossip Protocol'! It will eliminate the huge electricity server requirements that are needed to 'mine' Bitcoin! I think it's very possible Bitcoin and other Crypto are the future. Bitcoin could reach $50000 within the next 5 yrs.! ;-)
     
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  8. Butcherfx

    Butcherfx Private, 1st Class

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    Big support stands between 7500-8000 zone. Price may go below zone but i dont expect a close price in weekly bars.

    BTC weekly.JPG
     
  9. Butcherfx

    Butcherfx Private, 1st Class

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    Hello Brett

    Agree with you . Hashgraph looks interesting. i expect bitcoin to reach 30k in five months..
     
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  10. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Well, yes there is OP target. But, drop was very fast. Usually when market accelerates to OP, there are not bad chances that it should go to XOP. That's why I expect another leg down.

    Well, any asset is driven by sentiment :rolleyes: The major question - where sentiment itself comes from. And it comes from fundamental. In fact, China's limit on Bitcoin - this is not sentiment, this is fundamental news, or even political.
    My view on BTC - it will blow. Bloc chain will be used in other spheres, but crypto currency will be either put under regulation (freely or forcely by CIA) or collapse. I don't want to say that it will happen very soon, may be 2-3 years, but changes will come.
     

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