The NVT indicator is anticipating a down move in BTC.
We can observe that the recent drop to 3400 has triggered the break of the NVT Trendline that we were monitoring for the last days.
That signal is anticipating a near retest of BTC bottoms around 3100 area.
If the test of the lows would fail, then we'd focus on the harmonic targets that sit below 3k area....
Today I'm bringing an interesting study of the BTC bottoming.
We'll zoom out to weekly chart to compare the potential bottoming of BTC through the perspective of NVT indicator .
If we draw the descending trendline that was broken after bottoming in 2015, we see that it was tagged twice and got rejected. And the bottom took place between these rejections.
At this...
Today's BTC drop move is very welcomed from a technical perspective because it adds some clarity to the picture.
I have activated a couple of Daily scenarios to be monitored.
First one (orange arrows) would give us some bullish market structure drawing a bottom at around 3400 (Binance).
The second one (teal arrows) assumes a deeper correction back to 2800...
I never expected a drop this far/this quickly and have felt the pain looking for a bottom too soon; but here we are. With prices closing on the weekly below Sep '16 - June '17 Support (43.x), I see potential for a continued grind down as prices are right back in the eye of the 2015/2016 storm. IF... prices close a weekly bar below 41.38, then I believe we may...
Here you go pedes, right in front of your eyes, let the magic (whale) show begin!
Merry Christmas, and a joyous/wealthy 2019 to all you good boys and girls. The greedy who are waiting for sub $3,000 to buy in (90% of retail traders) will get lumps of coal and short squeezed.
Your's Truly
-racethehair
The last leg of Bitcoin bear markets are normally the most volatile and short-lived.
I am expecting a major reversal pattern like an Inverse Head & Shoulder to form ending the bear market and bringing fort the next bull run!
the smart money is likely preparing for the impending opening of the floodgates at bottom.
Quick update.
We broke all support levels discussed in earlier post and I will continue to remain patient but must admit, I am feeling at least a temporary bottom is approaching here. I'm looking for any signs of bull life and they almost showed it earlier with the initial low of $3650 and a bounce to $4000 but failed to follow through from there and now we are...
Chart self-explains. Could sure get lower but behavior suggests a bottom retest may be in at 24421. Wait on 4hr to confirm it.
Could get a strong lift into December off these lows to form a right shoulder before the bears really tear into it. Unpredictable now.
Just an idea not trading advice- trade at your own risk! GLTA!
For those who has been around awhile you remember last year between august and september we went up to 5k back down to 3k then never looked back to 20k.
I have to put a lot of weight on these levels as being important support levels but a sign that we maybe nearing the end of this bear market at least for price action is concerned. Time I think all depends how we...
Disney reports earnings today. The chart has been in a bottoming formation since April of 2018 as this company had a business contraction in 2015. The stock is below its all-time high. The bottom is on the short term within a Trading Range of 30-point dimension. Weekly Chart of DIS shows the trading range. The stock is postured to attempt a breakout of the trading...
Nearly there. Probably another rough day or two to get crushed down to support and complete the Zig-Zag correction (WXY). Elliott ABC wave near support.
Expect a hammer Doji, a deep spike with reaction lift. Maybe Tues/Weds. Who knows, utterly unpredictable atm. Spy might get down to 253. Nas- who knows?!
If index breaks and closes below the blue pivot support...
This is a bottoming formation that has been in a platform pattern after completion of the bottom in July. Shift of sentiment occurred in April. Quiet accumulation patterns are present from May through early July but are not present at this time. The stock had some down days but remained within the range of this platform. HFT gap potential if earnings surprise.
Fibo 0.62 retrace from Mar/Apr lows to the Sep high intersects lower support trendline at 24750. Lower is possible, but... just sayin'.
See Chart: res ipse loquitur.
The downdraft should stop and pivot somewhere between the two support lines in chart. Should. Might.
Expect a 0.50 retrace up from the pivot before next move.
Expect another flashcrash to test the...
We’re at the end of an eleven month pattern where Bitcoin has continued to disappoint and shed bullish sentiment.
I expect the chart is self explanatory. The lower highs and higher lows will meet each other this holiday season and, with that, cause Bitcoin to learn what it is and how it will be for the next six to twenty six months.
There is no insight I could...
That's an update of my initial idea (can be found below), which looks a little more in depth using the VPVR (Volume Profile Indicator). Based on the analyses there can be clearly seen that the current levels are crucial for the price of BTC and a strong move is expected very soon (probably even tomorrow - the SEC decision on the BTC ETF approval). As a result, a...
Hello all,
I'm trying to analyse several bottom formations of different asset classes in order to find key take-aways that could be useful for the BTCUSD bottom formation.
On my profile page you can find the BTCUSD analysis based on the same principles.
The Dow Jones bottom formation after 2008 financial crisis:
- Top 200 MA: 13 300
- Bottom 200MA: 8 300...
