By Philip Swift
Disclaimer: Nothing contained in this article should be considered as investment or trading advice.
As Bitcoin continues to progress on its adoption journey, we learn more about its growth trajectory.
Rather than Bitcoin price action behaving like a traditional stock market share price, we see it act more like a technology being adopted at an...
Traders, all is not lost.
Seems like we have experienced the breakdown in the triangle formation from the past few months. That 20% drop in price 2 days ago was well...crypto at its finest. BUT as well all know...opportunities are made in times of turbulence.
Listed below are 5 possible re-entry points into BTC:
1. 9478 represents the 0.382 Fibonacci support...
The USD gained a lot of strength early hours this morning during Trumps speech.
Trump suggested he was positive on making a deal with China, Japan and the UK after Brexit.
GOLD dropped due to decreased demand of safe haven assets.
The head and shoulders pattern is suggesting a break towards the 61.8% FIB level at roughly 1450.
This is also...
It may happen tomorrow or it may string us along until the end of the year but it would seem this descending triangle has the potential to drop back down to support from LAST YEAR'S descending triangle. If this takes as long as before and we end up consolidating well into it's apex that would give time for the 200 week MA to move up and create strong support again...
Looking for shorts from that zone:
- Strong rejection off the daily trendline for continued buys
- Completion of a shark pattern on the daily as well
- Looking to take shorts off the 61.8 of C to D
- Aligns with a strong level of resistance
- Continuation of bearish trend
- Might see the reversal occur Friday when Powell speaks
BUY GOLD FROM 1518-20 AND ADD TILL 1514 FOR 1535/1550
SELL BELOW 1495 FOR 1485/1477 WITH SL ABV 1515
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MONTHLY: HUGE BEARISH ENGULFING CANDLESTICK, ENGULFING THE LAST 4 MONTHS CANDLES
WEEKLY: SIGNIFICANT TRENDLINE BREAK
DAILY: PRICE STUCK IN THE BOX, WAITING TO RETEST THE BROKEN SUPP WHICH ALSO CORRELATES WITH FIBONACCI GOLDEN POCKET
#TRADESAFE GUYS, I'LL CATCH YOU REALLY SOON
The altcoins just positively tested the long term trend line, is now again trading above the golden 0.618 FIB ratio and if prices stay at current level then we are now trading above the 21W MA again which indicates bullish momentum short term.
The bottom for the altcoins may just have kicked in this week.
Monthly: Huge rejection of 112 level with two spinning tops and a huge bearish engulfing candlestick
Weekly: Break & retest of 108.5 zone with a nice shooting star rejection candlestick
Daily: Bulls failed to take controll of the market by breaking the ascending trendline. Bearn are now on controll
4Hour: We have a descending channel. Price retraced to our minor...