BTC 50-56k, are we here again already? Everyone is asking the question, which way this time? Will this hurt as much as it did the last three times? Will we have a double peak like BTC had in 2013? Currently I'm leaning 70%/30% long.
The purpose of smart money is to accumulate dumb money, and distribute it to themselves, so we should always do our analysis with...
Important things to note:
We have not gotten our 50MA test yet.
Price coming to another decision.
Long wicks tells us price will move up temporarily.
A break from temporary trendline will signal fall to lower price level.
1.91 price level will be hit hit price falls, 1.71 might be hit.
Chinese Govt hates BTC (we already knew that)
Important Dates to Take Note...
The next move for BTC could make or break. If the support line of this rising channel holds the next test, this could be a good entry point for a LONG trade. If BTC falls through this support that would probably lead us below 30k BTC price. If this would be the case that breakout down would be a profitable entry for a SHORT trade.
we broke trendline because of BTC correction, let's see if we can close above the trendline, then a bullish scenario retesting resistance is more likely.
TP1: resistance @ .26
TP2: 50% fib @ .28
TP1: yearly open @ .22
TP2: monthly demand @ .20
TP3: support @ .19
an important point. for if btc breaks daily pivot or resistance here. it reclaims weekly L3 which would target weekly H3.. which also is the monthly H3 which would put it back in its structure for decision on continuing higher for a new month
Despite the huge volumes, we have observed forces pushing the market down. Here the technical analysis is just a confirmation of what obviously happen in the real world, no bias.
The market has responded to the volumes multiple pushes with clear candle sticks announcing that the probability to see the price going down is very high and won't stop yet.
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We observed that after a long run down the market have found some power to stop the fall.
The market now moves in a range. We observed that the tops are lowering while the bottoms are increasing and doing...
Comex Gold Futures and GDX, corresponding gold ETF, both took a dive on Tuesday morning. Crude Oil plunged another 14% in early trading creating a need for cash to cover losses. With FOMC rate and economic policy decisions due on Wednesday and ECB on Thursday, volatility is on the rise for the rest of the week. Gold is holding support at $1705 with potential to...
Will the bulls continue or will the bears win?
Noontheless if bears continue to push us down I don't think they have won the battle. Let's see what happens next week.
I want to see break of 10600. As mentioned in my videos before.
Looks like a pennant trying to break up/down...
Usually a pennant is a continuation pattern (Much stronger then a symmetrical triangle), if bulls get enough volume, the might be able to turn things up, but I see very low buying power, and thus I thing we will continue down...
Thus Below 9400 we are going to continue the break towards the 9100...
but if the bulls...
ZRX has withstand all the FUD, and corrected in quite a technical way.
It is surely at a crossing point, and it could be decisive.
It has held clearly longtime to an ascending trendline drawn from the start.
It could eventually shoot up from here too, but if it fails... that should be a total wipe out.
Similar to Stellar.. but better
The next 3-4 weeks are going to change the long-term trend direction of the "S&P 500". The equity index is now at the edge of the edge of staying within the uptrend or starting a bear market.
On Monday, April 2, 2018 most of the European stock markets were closed and bears used this situation to drag the "S&P 500" strongly lower that day. On Tuesday, April 3 the...