Prices formed an impulse to the downside and then moved up after a serious stop hunt, or rather rejection caused by the buyers, who came in and pushed prices higher. This was evidenced by the correctional structure (rising wedge pattern). Price is currently moving downwards after it retested the support turned resistance of the rising wedge pattern. On the 4-hour...
Following the parabolic rise of BTC to 8300, we are in for a correction. The NVT Signal is showing Epic overbought proportions and the last rise was stopped by the NVT trendline. Next move is down to correct the overbought signal.
What is your level for this correction ?
0.618 drop from top to 5260USD
0.69 drop from top to 4900USD
Failing to rise above the channel BTC has now established with the current rally, this dog's breakfast of a chart looks forward to an optimistic correction sometime in around a week's time. In the meantime there seems to be little reason for BTC to dip below the channel, but given the ripples of volatility the next week may present good trading opportunities as...
Celr will probably correct a little before going up again for new heights.
I would wait around those support lines for entry and enjoy the ride up
Also if we're looking at our support lines those could be the turning points for the ABC correction waves,
And being supported on the 0.5 and 0.65 fib lines.
My strategy would be something like:
Bitcoin is in a correctional momentum for now and created a bearish engulfing candle stick. A close below the red line will confirm a correction towards the next support first at around 7038 USD and after that 6500 USD.
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The price for gold is moving in a downtrend, making lower highs and lower lows. Price just made a bear flag pattern, and broke out of it. We should probably see a continuation to the downside since the correction has seemingly ended. If this setup is validated, prices should rock-bottom to the 1270 area. Remember, always take your profits earlier when they come.
We have been made attentive to an epic overbought NVT Signal indicator.
Depending on how you position the trend line, the NVT Signal is crossing the trend line, announcing the correction.
Do you have a rational analysis that supports a rebound on the NVT trend line and another bull leg for BTC ?
This stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline, forming a series of lower highs and lower...