The price dropped from the 9K highs to find support at the 61.8% Fibonacci retracement level around $7500.
The directional index lines did cross but on falling momentum. This is a picture of a bearish correction in an overall bullish market, so the support on the price chart should hold and so far it has bounced.
The RSI also dropped, but still remains well...
W1 - Price is still in the zone of a triple cycle ending up with resistance, we have a possible double top. We may now look for a correction in the form of two waves or a range.
As long as the last top holds, we may look for a retrace to happen towards the 50% retrace zone.
D1 - Second false break with divergence. Band to band movement.
H4 - Triple cycle, the...
Details in the chart.
Look up the Money Flow Index indicator if you're not familiar with it. It's a very effective indicator on the daily chart - basically combines RSI and Volume.
Expected Price action of this ~35% correction is outlined roughly in magenta color, along with the expected MFI movement. Target of correction is around the $6,000...
It seems like we are testing resistance levels now and if we dont break through we might fall back down and retest support at 7500. if we break the support we have one more support until we have completed our short term 30% correction. Let me know your thoughts.
It’s a fact that trading is not a simple task and need cautious moves especially when it comes to high volatile markets such as developing market structures like cryptocurrency market. Even though such markets seems very risky to predict it’s also a known fact that when you are trading considering different technical analysis studies and fundamental news...
Price movement to the upside was quite strong and pin formed is small; Timing and location of the pin is very good.
First (T1) continuation of (red) sideways is expected and than (T2) possible lower low; could be new ABC move to the downside.
Sure BTT is one of the undermined or else abandoned crypto assets at current situation. It showed it can give a good profits in the future recenetly and surely the team doesn't simply kept sitting. They must be doing a lot of jobs to make it better since it do really have the opportunity to become one of the most highly effective use cases of the...
Bitcoin is exactly heading towards the level we predicted on our last update on a correction. We will update a more detailed look out in short time.
For now MACD and RSI looking very bearish and we might as well go to test the 7000 USD if trend continue as it trending now.
Hope you are enjoying our TA forecasts and that hope you did take all the...
DAX has a nice rally today. Could be the end now, with a pivot point forming on the 4H EMA200.
We are in a downtrend channel, and 11500 is a key level that has to be retested !
Let's see, Powell and the FED announce might push the price higher, so manage your risks
Since we have been asked by many of our followers to give yet another update on BTT here is what the charts are saying.
It seems BTT is still in favor of the bulls and didn't confirm a start of downward trend or correction.
- EMA still below the price which indicates that we are still in an uptrend.
- Trend channel still in progress and didn't...
Looking at the bigger picture on USDJPY, I am expecting to see a rally over the coming months which should see price reach 118 comfortably and possibly as high as 120. From that point I will be waiting for a reversal to confirm where there will be a significant move to the downside being the second impulse after the correction is complete.