DJI aka Dow Jones Index has been sliding south for the last 7 days, but considering that it has been going up for last few months it is not surprising to see this kind of pullback. Now the issue becomes, will this index keep having losses till it collapses to the abyss or this magic line is going to save the trend and push the bulls up to the moon as they say?...
DISCLAIMER : Take at your own risk . Past results does not reflect future results. Please use PROPER MONEY MANAGEMENT. IF IN DOUBT, GET OUT.
Daily TF: Daily Trend is an UPTREND and is above 50 MA. Previous Day Candle is Spinning Top, Market is in tug of war, no clear indication of where it will go. Daily Fib indicates that it hit...
If bulls starts to play, this could achieve an objective price around 1.43 in next weeks.
Indicators can be useful to understand the movement:
RSI14: 50.21 RSI21: 45.79
VOL is also low
EMA 20 is getting closer to EMA25, but not enough.
Both low with a good chance to go up.
This is not an investment advice of any type.
All have been said in the previous posts.
The most crucial area is the Magenta Elipse that I called the Big Baller Trade Area where the Bulls or the Bears will lost their Shit!
It's just between the 0.5 and 0.382 Fib Retracement of the last uptrend.
From that Big Baller Area, both targets of Macro Higher High or Macro Lower Low can be seen.
Are you going to...
Technicals: Price has made a strong push to the upside and is currently retesting the zone it's pushed through recently. This in my opinion is an exhaustion. Price is just waiting for a re-injection of BUY pressure before heading to the upside.
These are some of the variations that bitcoin may choose to follow. So far it has chosen the most bullish path. There are 2-3 additional targets for wave 3:
1. x3.62 *Wave 1: 7250-7450
2. x4.25 *Wave 1: 8000 (also a psychological resistance)
3. x4.62 *Wave 1: 8350-8450
Since the intermediate wave 5 is maximally extended to 2.62, this means that most likely the...
Bulls have really tried hard to get out this trading zone... but obviously the bears control the market and the bulls running out of steam.
I really think its time to go down to lower levels. first stop 0.65 area.
This chart is a simple overlay of BTCUSDSHORTS (Blue) vs. BTCUSDLONGS (Red). It's obvious - since the end of 2017 BTCUSD the overall Bullish/Bearish conviction has changed from bullish to bearish. The lower highs at the bullish side indicating a loss of bullish conviction. On the bearish side, higher lows are showing more and more bearish conviction.
Inspired by @excavo's support and resistance channels.
I believe we have completed the ABCDE retracement, comparable to the same pattern formed during April's lows and subsequent break out.
Price could find support at 8200 - 8100, and begin a new upward rally.
Lets go Bulls!
*Not financial advice
Another critical level for Bitcoin as it is "trapped"!
It remains yet to be seen whether #BTC will break out of it's shell for a midterm reversal or will bears bury it into the ground?
We have all seen a lot of bull-bear battle going on with these insane spikey "pump-n-dump" and I also suspect there is a lot of manipulation underlying some of this in addition to...
EURJPY battling to break the 127% extension. looking for trendline break to open up a potential retracement to 118.50. Will drop down to 60 min chart to look for short opportunities if we see a trendline break.