C+H is usually a sign of bullish continuation and NOT at the end of a downtrend. However, this still may play out as a C+H would. Reversal/Continuation patterns do rarely emerge in reverse. Long @ break of 0.764 fib
BBands set to (30) Triangles also represent a squeeze on the BBands The past two squeezes of this magnitude have hit either R3 or S3. My expectation is that this breakout will do the same. Although admittedly, the pivot math is greatly altered due to the BFX hack selloff, so therefore the S3 pivot at 2270CNY may be a little low, but does fall within previous...
Current Possible Long Entry Pending on Bitcoin High Probability Long Entry Checklist 1. Get Ready - Resistance Failure 2. Get Set - 50EMA crosses over 200EMA 3. GO! - Bids on 'Support Test' of 200EMA Stops = candle close above/below 200EMA Close/Targets = trade by trade basis - usually consists of candle/chart patterns such as double tops/bottoms or Head &...
BBands on traditional markets are default set at 20 and per John Bollinger, he found this to be the best setting. This gives the bands a 20 day SMA, thus capturing a month of trading. 9 to 5 trading, 5 days a week, 20 days/month However, Bitcoin may require a change of this setting to 30 because it is traded 24/7. 24/7 trading, 30 days/month. Chart is annotated...
A close inside the cloud (through resistance) is a very bullish indicator. A close above the $51 neckline in the cloud would give me further confidence that price would propel to $60 w/a pit stop around $54. ~$67 would be the ultimate bull target based on the flat kumo. Cloud taken together with MACD , RSI , and stoch , Technicals collectively is mixed. MACD...
Potential adam and eve bottom with an entry in the cloud makes a 1.22 level very likely. Wait for price entry in cloud above 1.147 for a high probability trade.
I have no experience with this pattern, will be interesting to see if it comes to fruition. Long at 3500 horizontal as well
Potential three drives pattern. Should be fairly obviously as breakout of previous top occurs. End result being a pullback to around $600
Potential H+S forming. I've annotated this because I've noticed some knowledge gaps in the community in identifying a H+S pattern. Hope it helps. Staying out until settlement tonight. Will be watching pattern over the next week and volume in particular. Is low volume due to 1/4ly contract open or just the bull trend taking a breather?
All wording taken from stockcharts.com id=chart_school:chart_analysis:chart_patterns:ascending_triangle_continuation I just placed everything on the chart for people to read. This is an undeniable bullish picture.
Price broke large triangle but another double top pullback won't be supported by the cloud. Long remains the play until a double top forms.
Price in cloud = no trade zone. Wait for price to break cloud to go short or long. This will most likely be a short as bitcoin is poised to break upwards.
Supply glut and TA say down. Possible inverted head and shoulders may save a retest of lows. If so, expect a ~$66 target.
Long term technicals showing short signals on all cloud parameters Price below cloud Lagging span below price and cloud (almost) bearish kumo twist The problem with shorting at the current price is the 'C-Clamp formation' of tenkan and kijun which basically says that price needs to catch up with the equilibrium point or that equilibrium needs to catch up...
This is a 12H Bitfinex chart showing a potential reversal of bearish momentum with a weak Bullish TK cross under the cloud. We have had several Bullish TK crosses under the cloud since August 2014 with only one materializing into strong bull momentum (buy signal) above the cloud. Also of note, we seem to have firmly rejected the Kijun resistance around $232 and...
Here is a 6h OKC futures cloud chart. There is a potential long entry zone should LTC price not drop below the index. There is also a bullish kumo twist trying to print, should the uptrend continue. Should price breach the bottom of the cloud, there is a likelihood of price breaching the top of the cloud. I've labeled my resistance levels with probability of price...
This is the 4H cloud on OKC futures. I labeled the potential long entry based on Rob Booker's cloud method (for more see the Cloud and Exit post). Unfortunately, price broke out through the cloud before I had a chance to publish. I have labeled upcoming resistance levels with my arbitrary near term prediction. The current price levels at the time of this post had...
Another potential break up based on thin cloud resistance which ends at about 8AM EST. Bull targets would be $215/220/230.