A very important update on bitcoin! I would have posted this much sooner, but as murphy's law would have it, just as everything reached the neckline, and the turned back towards the downside, my computer's hard drive failed and the day prior to that I broke the lcd screen on my phone essentially locking me out of my crypto accounts. Phone took 2 days to fix, but...
With price at all time lows and a pattern emerging looking like an Adam and Eve bottom , the risk to reward has a lot of potential (considering price won't move to 0) with the risk being low and the potential rewards to be rather outlandish considering the position in the market.
The fib tool is using a method I've come up with using the positive powers of two...
Daily chart on left highlights Adam and Eve reversal pattern (A&E). With A&E reversal pattern we need the bottoms to be more or less at the same level for it to be valid. On the ICX/BTC chart it is a little stretch to call it the same level, but on ICX/USD it fits nicely. A&E reversal has a V shaped bottom (adam) followed by a rounded U shape bottom (eve),...
When things are feeling bleak, remember to zoom out.
On the daily chart things still look pretty bullish.
We made an attempt to break through 10k (a big psychological resistance) which was also the neckline on an inverse head and shoulders bottom. Which didn't quite make it. I don't think this has invalidated it, it just needs another go, and BTC frequently...
On the daily chart, there is a large, active, double bottom bullish reversal pattern known as the Adam and Eve.
The shape of the pattern typically has two distinct valleys that differ in shape and together hold a descending volume profile.
The traditional long entry occurs after pattern completion on the breach of horizontal resistance with high volume at...
I am not saying you should buy XEM, but i recently did. I think the risk to reward is great, because XEM is still around 0.786 fib line (200% till previous ATH). Also Adam&eve/cupandhandle formed, breakout expected.
This is not financial advice.
If you have any feedback or remarks, please feel free to comment below.
Peace and trade safe!
Hi guys,
A short analysis on the short-term on the hour chart for ETHUSD. H&S failed on the right should, the pattern is not valid.
As you can see, we are testing the 2nd Fibonacci up support level [ $674 ], if we break that support with a great green candle, the Adam&Eve double bottom will be confirmed and the potential bullish move could reach $690 again, that...
If BTC does cool its jets and pull back soon, we can still look to the 8.3-8.6k region for strong fib/price structure support and a continuation of the Adam & Eve pattern upward. However if it maintains its current momentum and the bulls defend all sell-offs, BTC is looking at 10k and higher sooner than later. Either way, always good to keep probable scenarios in...
