LTC looks like it could be forming a diamond bottom.
Zooming out immediately makes me ignore that for continued downsie to the LTCM19 Expiry, however BullBearFilter is showing possible long signla and stoch is turning up.
Moving averages and pointing down on the daily but only just so that could change
then factor in the LTC halving not too far away
Good day Traders,
Bitcoin has a number of bullish signals for the short term, however, we are probably still printing a large bear flag, consolidating before 1 last bounce and then we resume the downtrend. Within the flag, we have a diamond bottom pattern playing out, with added resistance coming from our daily SMA50, and added support coming from the weekly...
Hello - a quick update on Bitcoin.
This can be wishful thinking, but it does seem like, that as of today (28.01.2019) Bitcoin broke the diamond formation and can strive lower. This means that it will be possible to short it after the breakout is confirmed.
Nevertheless, this market is manipulated and there can be short squeezes, which, in my opinion, can happen...
Good day Traders
Bitcoin seems to be following the H&S pattern from my previous post, and currently printing the right shoulder, as well as a potential bottom diamond pattern, which could break in either direction since it's both a reversal and a continuation pattern.
We still have major trend line resistance going back from our ATH and we're sitting right at...
Reviewing today´s market moves, it turned out there´s a slight chance we might finish wave 5 (?) with the help of a currently forming
reversal Diamond Bottom. We should keep an eye out. It could shoot us back up to where we came from yesterday and today and most importantly back above the weekly EMA200.
If this resolves bearish or in further sidemoves, I don´t...
The diamond bottom is in for Bitcoin -0.49% if the bold turquoise trendline holds.
Long above 6400, target 7000, stop 6180.
Everyone is waiting for sub 6K to buy in and lots of shorts might get trapped so I can see plenty of people underwater.
It would be a classic move by bitcoin -0.49% to turn up from here.
RSI and MACD showing bullish divergence, sellers...
Yesterday’s analysis: Rally should take us to the bottom of the triangle and the 128 day MA - around $7,600. Then pullback to $6,200. From there I expect us to find a base and rally back to $10,000. If you missed it I would highly recommend checking out the Bitcoin Bubble Comparison that was posted yesterday.
Patterns: higher low/diamond bottom. Inverse h&s with...
Here is the current view on BTC that I am monitoring.
We really had a fight right now between Bullish and Bearish patterns.
- Inverse Head & Shoulders in formation (Target $7,900 area)
- Possible Diamond bottom
- Downward break out of the falling wedge
- Trend line rejection on the Daily at key $6,800 level
- RSI too high to have...
Bitcoins price development formed a quite accurate shaped diamond bottom.
The bottom diamond pattern has shown an excellent performance compared to wedges and triangles.
The Fibonacci retracement I use in the chart is not based upon the price, but on the expected performance of the pattern.
This might be calculated as following. Measure the price range...
The market could do anything at any time.
consider your bullish and your bearish scenarios and plan accordingly
RED AND YELLOW DOODLES AREN'T ACCURATE THEY'RE JUST A GENERAL IDEA
FIND YOUR OWN LEVELS
If you need help finding them feel free to ask
(full disclosure - personally i'm still bullish BUT that's just me.)
I'm thinking that we fail to break the outlined resistance level and see a diamond bottom breakdown to the next level of support.
The breakdown may feature a throwback to the area of market structure, which would be the ideal level to enter a short position.
Bulkowski outlines that the Diamond Bottom performs at a rank of 1 out of 21 in breakdowns. (To be...
BTC about to make a major move. Being pushed down by the Jupiter-Uranus opposition beginning around 5/5 and ending 5/15.
We could see the major pump or a leveraged, stop hunt liquidation wick before a major pump up.
We have a few celestial events coming up.
Mars enters retrograde zone - unfavorable or could be a trend reversal sign.
Hello Friends and welcome to an updated analysis on Bitcoin. At this point we have touched our Diamond Bottom Target twice. This is where if trading this pattern I'd take profit. The primary reason for this is the Ascending Wedge (orange with blue lines) or Rising Wedge as some call it. I originally thought we were forming an ascending triange but alas it has...
I'll be quick here, I'm happy to explain anything on the chart so comment a question if you have one. Pretty clear from the chart, but we have a descending wedge that finished with the rare but highly reliable, I'm talking 81% Price Target Accuracy reliable, The Diamond Bottom. The fib retracement from March 5th to April 1st supports the Price projections of the...
A short analysis tonight on the 4-hour chart for the short-term of Litecoin.
As you can see, LTCUSD fought to stay in the falling wedge and today has been forming a clear bottom diamond pattern.
When a bottom diamond pattern is formed, the currency regain its previous value before the last bearish trend. In this case, we are in the falling wedge,...