5 weekly sessions have passed since the ATH, if this was a correction we could see an increase in volatility and perhaps even violent bursts, aimed at eliminating as many small fish as possible from the market. This area around 69k usd is a very important resistance, having been a high that lasted 3 years, it will not be easy to break it, something would be needed...
The weekly candle that closed yesterday shows how buyers are almost eager to buy on every dip. More fud will be needed to create an intermediate correction (greater than 3-4 weeks), something that could be seen as a small catastrophe by the market, for now the rise does not seem to want to weaken, which happens in trends that have directionality and volatility, a...
The trendline had its importance, the price crashes into it and retraces, I hope only in the short term, otherwise I may have done the math wrong. There is. Nobody knows the future and technical analysis is the study of the past, therefore the probability that this ongoing movement is a short-term correction is high, for the simple context in which we find...
An old trendline drawn on long-term cyclical lows, today seems like a good resistance where perhaps the price will have a small moment of pause, perhaps in the short term (3 weeks - 1 month). Last week's closing above the historical highs or in any case in that area also seems to give continuity to the bullish trend, but here now it is more important to try to...
With the explosion of the rise that broke the old highs relating to the intermediate period, the price proves to have reliable bullish strength. The Macd highlights that with this crossing, between the signal line and its moving average above the zero line, the short-term correction could be over, therefore a resumption of the upward path again in the intermediate...
With the exceeding of 43.8k usd which is the maximum achieved last week, an attack on the most important resistances could take place or perhaps directly at the maximums achieved in January, this or next week. The hammer from two weeks ago, which requires confirmation, needs a close higher than this high taken into consideration today, because at that point the...
January ended with a Doji candle, a symbol of uncertainty and often when seen on the tops a prelude to reversals. But for a reversal of the trend, confirmation will be needed and we know that the underlying trend is bullish, so in this context we can use the doji candle to understand whether it will make a retracement or not, using the highs and lows of the...
Does the macd indicate weakness of the short-term correction, is the decline over? A rise now could also bring the price above 49k USD, but tomorrow's FED meeting will affect the direction of the price in the short term, so we have to wait to understand just how many cuts they will make on interest rates this year. Once this event has passed, I hypothesize a...
Hi Everyone. Thanks for reading my post. Looking at the current price level that BITCOIN has pierced through which is the Low of 28850. This is a Bold INTERMEDIATE DOWN TREND LOW and piercing slightly below it to 26700 and recovering back above it has open a significant door to Long Opportunity. I believe BTC is a Long term UPTREND and we have hit a level that...
Hi, let's look at the weekly charts for Starbucks Corp with the symbol of SBUX. I like looking at Weekly charts because it reduces the noise and help us to concentrate on the overall trend the market in the intermediate and short term. Starbucks is following a 23 week cycle and I expect the next cycle low to be around 28th of April 2020. Cycle low can happen one...
USDJPY could move higher towards the 1.618x Fibonacci extension of the latest bullish minute pattern started on 107.88. This would validate the recent breakout above 109.32 as well as the intermediate degree structure which has a medium-term target near 114.55. The pair, however, could have just ended the intermediate move to the upside at the 2x Fibonacci...
It looks like the corrective wave (2) of the bullish intermediate degree has ended at 106.74 with an open triangle pattern formed in minor wave C of the A,B,C correction. The recent breakout outside the triangle barriers looks impulsive (as seen in minute 5-wave upside move) and fresh highs could be expected. In the short-term, we could receive a brief pullback...
It looks like the corrective minor wave 4 has ended a tad above the strong 1.1025 resistance, taking our breakeven stops. The recent attempt to push prices higher is most likely done for now and fresh lows could be expected. Minor wave 5 is expected to end below the most recent low of 1.0880, where intermediate wave 3 will also see its end. The intermediate wave...
It seems APPLE has now completed the Wave 5 Intermediate period Impulse wave and has now started what seems to be a big move downwards in a Bearish trend in a correction/consolidation move. TECHNICALS: Price action has completed Wave 5 Inpulse Elliott wave count and has now seemed to start the ABC correction/consolidation move downwards which should last well...
Long position presented; watch for test of downtrend line. Likely to fail breakthrough and bounce off. Once this happens; safe to enter a short position.