RSibayan

RSibayan Updated 

Hello Friends, Bitcoin continues to respect the supporting trend line of this ascending broadening wedge.  If this plays out to the end, the target price will be all the way up to $10,800-ish.  If Bitcoin decides to fill the CME Futures Gap and replicate a vicious red wick back on the 17th of May, we might see this wick reach the $7,144-ish level.  If we get a...

RSibayan Updated 

Hello Friends, It appears that the sun may still be shining on the crypto world. Bitcoin has now formed a bullish ascending broadening wedge. But remember, Bitcoin will always surprise us with any type of movement, UPWARDS, DOWNWARDS, and even just SIDEWAYS for days or even weeks on end. The takeaway from this message is to always be watchful of what Bitcoin...

RSibayan

Good morning, just got up and guess what I was presented with... a cup of coffee. Here's just a crazy idea on the 15 min chart. If this plays out and it goes up, our targets are... Target #1 will be $8,185 Target #2 will be $8,330 When it falls, we'll be back to the bottom of the cup at $7,745 Place your stops at the appropriate levels. Happy Trading

RSibayan

Hello Friends, Double espresso anyone? Bitcoin might be replicating the first completed cup and handle pattern (bullish pattern). If this plays out, target price will be at $9,150-ish. Don't forget that we are still in a rising wedge pattern (BEARISH pattern). A drop might just follow after the pump following the completion of the cup and handle chart...

RSibayan

Hi Friends, Just wanted to share my views and ideas here. Thanks for taking the time to read this publication. Yesterday, I plotted potential pathways Bitcoin might take. Bitcoin has broken through the resistance line and appears to be taking the third path. Here's yesterday's chart: When price retraces to the resistance line of the falling broadening wedge...

RSibayan Updated 

Hi Friends, Had some time in my hands here just waiting on Bitcoin to just do something and ended up plotting these pathways where Bitcoin may potentially traverse. 2 paths are pointing to the upwards and 2 are pointing to the downwards. What's your vote, Path #1, Path #2, Path #3 or Path #4. I still have this rising wedge chart pattern laid out on my chart,...

RSibayan Updated 

Hello Friends, Bitcoin's pump up to the $8,940 level has created a ceiling for an ascending wedge. If Bitcoin plays out this pattern, we're seeing a drop to the base of the wedge around $6,625, revisiting the steep dip of price back on the 16th of May. This will then prolong the climb back up to $9,000 and higher. The positive side of this will be the ability to...

RSibayan Updated 

Here's an idea, just one potential scenario of how this bullish trend may still continue to look like. The retracement everyone is expecting will soon come to fruition, but no one knows when. It appears that Bitcoin is currently in an accumulation phase at the $7,500. If the market structure will not be broken at $7,250 then the upward trend will continue. If...

RSibayan

Hello friends, Here's an idea you may or may not agree, nevertheless, it's just a possibility. Every wise trader looks at every possible scenario possible when diving into any market. So here's just one potential scenario... It appears that we are in an accumulation phase preparing for the jump to the next level of about $11,650-ish. The parabolic curve does...

RSibayan

At the time of this writing and publishing, Bitcoin has reached it's first stop over which is at the 0.236 Fib retracement level, which is a 15% retracement and is poised to continue dropping. Fibonacci Retracement Levels: 15% retracement at the 0.236 Fib level 24% retracement at 0.382 Fib level 32% retracement at 0.5 Fib level 40% retracement at 0.618 Fib...

RSibayan

I've brought out the Fib Ret tool to determine the levels for dollar cost averaging in for Bitcoin. More chances to buy Bitcoin before the next bull run. Bitcoin now has retraced 15% to the 0.236 Fib level. Potential bottom will be 40% retracement at the 0.618 level ($5,050). When we reach 50% retracement, at the 0.786 level, there will be a greater chance we'll...

RSibayan

A breakout may just push Bitcoin to the 6th Base at the 2.618 Fib level and retrace to 2.5 Fib level. Stoch RSI momentum is shifted to the upwards on this 4 hourly chart. $9,437.30 red line coincides with the retracement of the 2018 bear market at the 0.618 Fib level and may be the resistance for this parabolic move of bitcoin which may be the end point for this...

RSibayan

Brought out the Fib Ret tool and the point of origin is from $3356 up to top of the 2nd base of the parabolic curve which is at $5650. Base 4 has camped out at the 1.618 for a short while after it retraced from the 1.786 level. Price then continued to push up and reached the 2.0 fib level. At this moment, Bitcoin appears to be pushing upwards. If Bitcoin chooses...

RSibayan

Bitcoin bulls may leave a huge gash on the bears as they gore their way through. The price will rise faster and faster as it passed the 3rd stage of the huge parabolic curve. Price tends to double from the end-point of the 1st base to the end-point of the 3rd base up towards the top of the curve. Target price appears to coincide with the Fib ring at $6,800 if this...

RSibayan

Trend is your friend until the end. Bitcoin now in a very very tight spot and the direction where it's headed is obviously upwards. Short term forecast appears to be a break out and target price is at the next Fib ring ($6,800). Although, Bitcoin always has the tendency to surprise everyone and may always choose to go the other way. So, place your stops at the...

RSibayan

Healthy retracement is forecasted in the short term for Bitcoin. If it plays out, the drop will be towards the red rectangular area, target area is $5,565 which is the base of the wedge. The other potential scenario is that Bitcoin will break out from the resistance line up towards $6,430, although with low probability. Place your stops at appropriate...

RSibayan

Price action on Bitcoin has formed a repeating pattern since it pumped up early April 2019. If it plays out the same pattern, price may potentially reach $6,200 if it rebounds from the support line at $5,300. Other scenarios may turn out that the price may push higher than the resistance line or price may drop lower than the support line of the rising broadening...

RSibayan

The pit is deep and the bottom is nowhere in sight. We continue to descend in the next week or two, and possibly a great big breakout to the $2K or $1K levels to start the year 2019. Great big opportunities ahead to accumulate BTC.