COINBASE:BTCUSD is having a rough few days. Price is dropping hard and it seems there isn't a consensus of where support will come in.
I'm not willing to take a position just yet, but I do want to say that having the RSI already at historic low levels is a bad thing on the daily chart, it does represent some improvement. The major drop from 6k to 3k had RSI...
The mean time between official (NBER) US recessions over the last 150 years has increasing a lot (see gray lines).
Yet the S&P 500 % drops remain relatively consistent averaging 25%.
The market is considerably stabler than it was a century ago.
After seeing us bottom out at the -80% from the last ATH around $3,200 it has been a surprisingly straight up launch. I had expected more of an up and down roller coaster ride, but "this time it's different"... sorta.
We didn't range sideways like we did before, but I think we will still repeat the typical parabolic moves with -30% pull backs on the way up. Where...
BTC is definitely at a high tension point, and while many TA indicators and trends can be observed, none can be confirmed until the patter resolves itself.
In moments like these I prefer to take the historical approach and compare the current chart to patters of the past for guidance.
I think the comparison with the previous ATH of 2017 and resulting bear market...
I guess Ethereum have atleast one shot against Bitcoin in next cycle.
best scenario if ETH/BTC reach my target ETH/USD 4.000 USD
other scenario is ETH/BTC reaches lower high and ETH/USD top at 1.000USD
wrost scenario is ETH goes all time low on ETH/BTC chart slowly.. and sideways around 300-400USD
I'll open sell after fake broke of key level 26954.0 because:
- 26954.0 is a historical 10-Month High.
- Many traders will close their buy positions near this level and it can cause falling of the price.
- Potential profit will be in 5...20 times bigger than risk.
Monthly and weekly chart trendlines are down.
Fresh and historical demand zone at 3.48-2.93 area rejected price 7 months ago.
We have a nice weekly demand zone at 4.22-3.85 area.
We have a uptrend on daily and we have a daily demand zone over weekly demand zone.
Entry price: 4.32
Stop Loss: 4.12
R/R Ratio: 3
EURBGP makes history, easy short
I’ve went back to 2000 and looked for any periods of time where the EURGBP has had more than 12 consecutive daily candlesticks where the Open was greater than the Close. Never. In fact, the most I found was 7. So this is a pretty extended move in time. And it’s a straight up parabolic rise as well. This is very much what Gann would...
I have been exploring EURUSD charts back in the history to find an area with similar patterns.
Please have a look back at the period 2017-05-17 to 2017-06-23 with daily bars (STAGE ONE)
It may be possible that EUR will swamp in this swing between 1.1125 and 1.1280 for a couple of days and may require a break and a closure around 1.1330 area as...
According to the theory of Charles Henry Dow, of the three major market cycles, we had a bear market, bull market will come any time soon, historical levels of of support/resistence tend to be respected
Using only historical data, Fibonacci, and simple Geometry, I'm making this very long term Bet to BTC with 2 kind of possibles dates and end prices.
Maybe it's too early to make soo long bet, but if you are a Hodler, maybe its good to start to think what will be the price in 5 or 6 year.