BITCOIN PREDICATION AND FORECAST, BTC PRICE ACTION - 10 APRIL 2019

fieldsofgold (41)in #money • 5 years ago

10 APRIL 2019 | Darcy K. Butcher, MA, Journalist | Pacific Rim International

No one knows for sure if we've seen the bottom of the market. If Bitcoin catapulted it was indeed a non-traditional bottom. This is why many doubt the bottom is actually in. If we did see the bottom and we are indeed back in a Bull Market then targets with the next 2-4 weeks may be more robust. Of course volume confirmation would be needed and there is always a possibility of breaking back down to lower levels and even new lower lows. Depending on charts and exchanges exact data is variable across the board. For instance many charts in programs like Trading View include weekend data. Trading bots influence the market and wash trading makes it difficult to get exact information on all exchanged. Tailor numbers to your exact trading exchange platform.

FORMATIONS FILLING OUT ON TA

Momentum on Bullish Pulse has been hugging this level and seems to have more juice left
This current move up, It may not be a Bull Market but rather a rally
$5100 - $5125 is a local, small time frame stop
$4900 short term back test possible
$5300 is major resistance
Sell off/take profit on the first past of $5300 would be expected
8- Hour Stoch down and weak
12-Hour RSI and Stoch is coming down
Bullish accumulation ongoing as down wicks being bought up well
Ascending Triangle Pattern is seen here
Monthly signal (end of April) that closes Bullish would move into mid $6000's

GRAYSCALE BITCOIN TRUST

Need to see higher high (an alert here is good practice)

DAILY

Upper trend line being tested
$5200 - $5335 Range
Divergence on the RSI, local top not confirmed though

LOWER TIME FRAMES

Signaling possible upside

HIGHER TIME FRAMES

Some Caution is advisable
These are the areas traders can get trapped in
Without increased volume BTC can spend months going sideways

CME

Obvious gap $5050 area
Premium on Price Action right now

DELTA VORTEX

Orange signal

The momentum on this impulse wave up is holding Bullish for now. The LT Delta Vortex indicator, developed by a mathematician, is giving an initial warning signal. Further follow of confirmation on this signal would represent a sell signal. Using a trading trailing stop loss lower and then lower may be used in conjunction with this signal. There has been a warning then sell signature with this indicator before weeks before a major consolidation.

BULLISH OUTLOOK IN PLAY

What we know is that BTC is at a key level and has passed and is above many moving averages. Without a push back above the moving averages on higher time frames an immense drop could occur. This is what makes this area difficult to ascertain.

This last impulse move was very powerful
Bitcoin will likely push towards $6,000 experiencing resistance along the way
CME report record trade volume in April, same with Cumberland's OTC desk
Binance is reporting an all time high number for orders executed in recent days (more than Jan 2018)

FEAR AND GREED INDEX

LITECOIN

A pull back to $70-75 would be accumulation for many
Looking tired on many indicators
Sell signal given on $90 level for many

ETHEREUM

Looks different than many coins
The break out trend line has been defended
$174.50 - $183.00 Range
$191 -$220 Bull Range
$162 Bear Range for Buy Back/Accumulation and bounce

BITCOIN CASH

Will shoot well past $500 and consolidate back down to $350

Tip Wallet - Contribute to Darcy's work here:
RVN: RSoGtGuYYwNL8L7hYZEZNU6gHi92AQ6bWB
BTC: 17ensjJ2gaKfNfaZhzU7cEtJmV1Govtqq
LTC: LPKiZK65DFCoVQu7RAAizK1cCj4C9qcAHg
BNB: 0x2a19200dec8b815035960ad703e03a3f7796bbfd

Darcy K. Butcher, MA. BA Print & Photo Journalism
Writer, Print and Photo Journalist, Blockchain Educator
I am interested in cryptocurrency as a social, cultural, financial point of view.

For educational purposes only. This is not financial advice. DYOR
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