GTWCA-40 | Tedious Consolidation Of Bitcoin!

gandalfthewhite (48)in #cryptocurrency • 6 years ago (edited)

& again, my dearest friends

It is the Gandalf The White – writing about btc and ada.

BTC

The consolidation is going on. Maybe bitcoin will break through the triangle this time. Once again, we can only wait. As you guys already know btc should just go for the 10,000$ but therefor xbt presumably will need a couple more weeks (I'd say around six weeks).
Btc is worth around 6.5k$ - increase by ~500. The graph is below the Ichimoku Cloud. Logically it is below the important 0.618 Fibonacci zone.
Tradingview chart - XBT/USD, daily, Kraken - one month ago:

^{Click on any image for a bigger version of it}
Three weeks ago:

Two weeks ago:

Last week:

Today:

Explanation:
You can see the price scale at the right (orange number pictures the current price), time scale at the bottom (trading volume right above it), seven new candles, two green "support" lines, red dashed resistance line, two yellow lines forming the descending triangle, black horizontal 618 Fibonacci line and lastly the Ichimoku Cloud (red shaded area) with its lines (turquoise, blue and orange). The others ain't important right now.
And yes, I know, I've simply "copied" some parts for this explanation from my #gtwca number 30, kind of.

Furthermore, the cloud is still getting smaller - color change, please. The support is holding too - hopefully continues to.

ADA

Oh my gandalf, this coin just won't stop bleeding. It dropped again and reached a new all time low. Another time, you can buy now or wait a few more weeks. Safety first, I think.
Ada is worth around 0.06$ - decreased by 0.01. Of course the graph is under the cloud.

Wow, 40 weeks now since my first #gtwca. Soon a whole year. As long as some people like my #gtwca s and my followers don't stop following me I will continue posting these quite time-consuming technical analysis'. 'Fortunately', some of my followers are real loyal friends [leastwise about ten, I believe haha - I have about 300 followers (since ca. two months) and get around ten upvotes per post; that's pretty funny somehow, not even 5%]. So I'm very happy and thankful for those few awesome Steemit friends.
And as all of you guys probably already know: I really do not need to do this. Only sharing my tas because I want to help you achieve financial freedom like I did. Some of you may/should already know a bit about Elliott Waves, Ichimoku Cloud and the very helpful Fibonacci levels...
These bearish times are quite hard times, moreover pretty tedious. For example, if you didn't short the market it's all about waiting - keyword: patience -, of course there exist other strategies too. Anyway, do not freak out and simply remain calm. Bitcoin still has huge potential (like many other alternative coins) and is very likely to go "to the moon". It simply ain't sure when - hopefully in the upcoming quarter of 2018.
Nevertheless, I thought this coin is going to be way more bullish than it actually showed us the last months. Eg. at the beginning of the year I was of the opinion it soon will go up again to around 10k - a couple price fluctuations but generally stay around 10k - after touching the 6k mark. Well, it did not but I've written several times about that topic, so there's no need for repetition, I guess. The correction lasted way longer and maybe still ain't over but I absolutely hope we did it.
Whatever, special big thanks to my active brothers: @solominer (/ @freedomcoin) and @culgin.
And of course thx to all the others, recent steady upvoters (last three posts): @steem-oracle and @vietthuy - @sbi7 lol (thx to @steem-oracle).
And as always, if you have a question simply comment and I will reply to you my dearest friends! (: