Here's a quick look at our current Bitcoin scenario from a Wyckoff perspective.. The Wyckoff accumulation event suggested here is a nearly textbook case example. The market seems to be reverberating from a large amount of strategic accumulation!
I might suggest that our 'must hold' level for this bullish scenario is the shaded area between $3700 and $3800....
Past two areas that neared the uptrend line dropped around -2.85% in the week prior to a trend reversal.
We are at that same point as we speak.
Looking for a reversal here based on the weekly timeframe. Ideally, we finally break about the 1360 area.
After many days of painfully watching and waiting I almost traded back in last night.... happy for the waiting now
Feel more confident after the trend is fully completed and we can move onto a period of stability.
This is my first post and I'm my views should not be taken as a vision of the future but I'll finish this and all future posts with history (and...
DXY Dollar Index
DXY has rallied from lowest blue line (just out in fact, but
close, considering how far it has fallen now) and rallied to the
next line pretty much spot-on. So it's now vulnerable again at
this point....it has to push up through this next line right here
at 89.42 and hold above here for the dollar to go up any more
and therefore for EUR and...
On the descending line are the prices that were barrier and stop for the BTC to follow its bull run, which perfectly match the Fib levels.
And the possible ones that remain or the king is already able to continue his longed up way up?
We will see.
1st TARGET REACHED ------------USD 3824.88 (FIBO LEV 0.382)
STRONGEST RESISTANCE LEVELS USD...
After the first target reached usd 780.- at the range 780/790, BTC gonna make a retracement of usd 23/25 to finally go to reach the 2016 target of the mayor psychological level.
I put the links of my previous BTC charts.
Thanks for the msjs, followers, likes, tips and many new friends that i maked doing that i loving, trading.
I wanted to leave the next...
Monthly chart is at a 1.272 fib extension so how the top is panning out...hm this is another possibility as a 3 drive to a top harmonic top pattern
Safe trading ladies & gents!
Music at work:
Price teasing with neckline but has still to make the breakout for the IHS' to pan out.
Must admit that I still stick to my monthly chart that is finding a market top due to a harmonic pattern that has been building for over 3 decades and the latest 2009-2014 bull run ( See chart below) On the other hand a move back and forth - bouncing on the monthly 1.272 fib...