As you can see we have busted up out of the bull flag and thus also upward out of the bear flag as well...I have posted 2 price targets for a bull flag breakout one that considers the pole of the flg to be just one of the green candles a price point we've already reched...and then another prie point in case the entire bull flags pole was also the long green...
Was able to ride the upward bounce off of the fib after it wicked below jsut enough to trigger my limit buy...I don't anticipate the bears are done yet though...especially since the upcoming 1day chart death cross is still seeming like an inevitability in the coming days. Now that I ahd a successful limit buy triggered I qwill likely put another top loss a few...
Nothing to do but short...and maybe reassess when to go long again based on how price reacts at the blue fib line....not a bad idea to set a limit buy way below that, while keeping an eye on how far we dip below the psychological support of 8,000. THis could very well be the results of whales stop loss hunting. So be on the ookout for any sudden boosts of bull...
Now that we've closed 2 candles below the 50 MA it's looking like probability favors the short game over the long game. Usually we wait for 3 or 5 closes below the 50MA to confirm we are back in a sellers market first so this current 4hr candle is very important....if it closes below odds are good we have more downside to follow. A short at that time would not be...
We plummeted and after we started to go below the 50% green fib line that was officially creating a new lower low/lower high which is often a signal to short. Had youd one so and follwoed it all the way down to the 50MA you would have come out quite a bit ahead. I would mark this idea as a short if it was being updated at that point...but now we have been already...
Ever since we confirmed the last bear flag breakout the price action was sent down and has tested the 50MA multiple times on the last couple candles....but has only wicked below it maintaining very strong support....however as you can see the projected drop target from the bear flag breakout has not yet been met....what's more we are now essentially forming...
Here, I am using a 4H LTC/BTC chart to estimate the length of a potential downtrend, beginning at this point in time. If the trend holds, I see a turnaround & buying opportunity at the point of confluence between the trend-line and major VPVR support @ 0.017 BTC in early April.
Support analysis of both, the previous parabolic move as well as the current slow decline, show areas of support aligning along with impending doom. Currently holding 0.382 Fibonacci, the area below is vulnerable up until the Trend line . At this point an expected rise from the Golden cross approaching within hours (200MA crossing below the 50MA, indicating short...
Exciting to see we have confirmed the breakout of the wedge....wedge breakouts tend to have very reliable projected target prices and this one goes all the way to $10335. I have updated my chart to show which fib lines, trendlines, and moving averages can act as support or resistance along the way. The only EMA I have on the chart currently is the T-Line...simply...
This idea is following the same pattern as my previous XRP idea. If the lagging span of the Ichimoku cloud pierces the thin cloud above then we would have a clear buy signal. Futhermore the VWAP has crossed the 50 MA quite aggressively.
While XRP remains predominantly bearish, we have a few signals here that could indicate a short-term uptrend to our previous resistance (red-dotted line). We have pierced the Ichimoku cloud and the VWAP (pink line) has crossed over the 50 MA (blue line). If the lagging span of the Ichimoku cloud (black line circled in yellow) pierces the Ichimoku cloud then we...
The stock is trading below 50 day moving average. Failed to breakout. The technical bottom is 15.25 dollar. When bullish on the stock buy more on that level. Short term the stock can decline more.
Spotted a Head and Shoulders pattern on the 4 hr chart BTCUSD. The neckline of the H&S pattern crosses close to the 50 day MA. Can we expect a short term downtrend if the trend crosses these levels? Leave your thoughts below. If you have any comments/questions please let me know.
Cheers.
