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Been very busy and its been a while since I posted. Apologies for that and thanks to all of you who keep up the good work.
In two minds here, which is a typical predicament with trading.
The 15th October spike that popped through the top of the long term triangle has been seen by some as a bear flag, and I can see their point, but for me there is more ...
Most likely will have a big come up to fake out bulls, true bottom is still yet to come. Partially because of main institutional investors still being hesitant to fully enter the game.
Lowest Bottom Possible: $5,250
High Before Bear Run : $6,350-6,400
Just my take :)
This is my vision on XRP if the bulls can overtake the bears in the coming weeks.
On the daily XRP is forming a bull flag with an ascending triangle and it's been finding support on the 200 daily. If it is to break out we will probably go above the previous high.
Now volume is important to give it momentum, xRapid adoption or speculation might cause ...
After months of studies (still learning everyday), here is my first ever post of a crypto technical analysis.
Any constructive feedback is welcome!
Fourth press up to the line, pushback for a series of lower highs over past week. Bull trap. Expect correction to continue sharply soon.
This post for education only, does not constitute investment advice, trade at your own risk; good luck!
Two danger signals on 15 min Bitcoin chart. Gravestone Doji, Long legged doji and bearish sell signal. Sell Bitcoin. Bull Trap.
Current short term situation looks like the bear flag has been invalidated. With a 1D close above and test of the top trend, it is a safe bet that BTC is going to take another leg up to $71XX or possibly even extend to $78XX. Alts should follow as long as BTC doesn't move too fast. However, we are still in a bear market so we must remain cautious.
If my theory ...
A lot of altcoins are going up which is a good sign for the market to recover. We have got a lot of good news about Bitcoin these days but do not be FOMO. It only looks like another bull trap. Do not fall for it. The volume of Bitcoin is absolutely weak and does not show any sign of an upcoming bull market.
We would better wait for better signs as Bitcoin is ...
See chart. Minor retracement with clear wedge formation- ascending triangle before a further break down. Not enough bulls to fill Friday's gap.
Im not an advisor this is not advice, just fun education post, good luck!
Doubtful SPX 0.32% can fill Friday's gap. Curving over now after a tiny subminuette 5 wave reactive bull impulse.
Expect lower by day's end and a break sometime this week.
I'm not an investement advisor this post is for education only, good luck!
Price is rising today but is it a bull trap?
Read full analysis here:
Bestimate projection for Dow going into August, tied with October for weakest month of the year.
Coming off a strong rally in July, odds favor more volatility.
Dow appears to be in a corrective, reactionary wave cycle: 'A' wave from first top 07/26 ran down to the flash crash Thursday 08/02 (Label 'W' of WXY reaction).
Notice labels for larger primary trend are ...
After Tuesday's short squeeze a lot of us got stopped out and irritated bears are wondering; "WTH is it DOING?!"
After I calmed down a bit, licked my wounds and smoothed out my fur, took a hard look at the chart. Then shorted again today.
Pattern now unfolding looks a heckofalot like May's behavior after the runup three months back. Now Tues looks like a ...
You can see that T5 is a confluence/intersection zone for 3 pitchfork channels, a green horizontal resistance line, D1 EMA 200 and RSI Bands. We're overbought on all TFs, not just the daily, maxed out on RSI Bands, so the only way is down. We will consolidate/move sideways for a few days until the futures expire (between 7500-7800), then have a some sort of a ...
Just a reminder, be careful as this could be a major bull trap and the start of 2018 capitulation. All this crazy pumping from nowhere could lead to a drop to 4K as in 2014 Bear Market Capitulation.
We had the same type of D1 death cross, have breached D1 EMA100 and are now testing W1 EMA50, also have D1 RSI oversold and could not break the triangle bottom.
I am scaling into a short position here on BTC as we have 3 major resistance levels all converging between 7.6k - 7.8k. We have the 100 MA, the previous trendline that failed to support the price and the top of the dead cat bounce.
Longs proceed with caution..
Observing how previous bubbles have popped, I don't think we're just quite done with the overall bearish trend of BTC yet.
Taking into considering the movement and Fibo lines, I believe BTC has to reach the 5000 dollar mark before fully recovering.
Going long right now and not having the patience to wait out the trap could mean losses.