The $5000 barrier

3 wrz 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 wrz 2017

Uwaga

Now BTC has touched the long term uptrend line.

4 wrz 2017

Uwaga

These drops are habit now?

6 wrz 2017

Uwaga

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

7 wrz 2017

Uwaga

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

7 wrz 2017

Uwaga

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

8 wrz 2017

Uwaga

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

13 wrz 2017

Uwaga

RSI divergence is a sign of reversal.

15 wrz 2017

Uwaga

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

15 wrz 2017

Uwaga

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

16 wrz 2017

Uwaga

$3400 still looks likely.

17 wrz 2017

Uwaga

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

17 wrz 2017

Uwaga

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 wrz 2017

Uwaga

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

19 wrz 2017

Uwaga

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

20 wrz 2017

Uwaga

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

21 wrz 2017

Uwaga

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



That $5000 barrier is far far away now.

23 wrz 2017

Uwaga

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

25 wrz 2017

Uwaga

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

28 wrz 2017

Uwaga

BTC seems to be due for a correction now.

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

29 wrz 2017

Uwaga

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

30 wrz 2017

Uwaga

To break through $4400 will probably some serious volume.

3 paź 2017

Uwaga

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

5 paź 2017

Uwaga

At this point it looks totally ambiguous to me.

9 paź 2017

Uwaga

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 paź 2017

Uwaga

Above $5000. I expect $6000 this week.