BTC was looking for a nice wedge consolidation and breakout to the upside, but bulls overextended the price up out of the wedge a little too soon, cancelling the high tension accumulating within it. Without enough buyer confidence to follow through on the early breakout, a 3-wick rejection has occurred so far.
Since the consolidation tension was released too ...
Gold just hit the upper limit of a strong parallel channel. This trade is simple and clean. Canceled if price breaks above 1358.
Target set at 1322.
fundamentals :
-Watch for Fed's Beige Book today (it will set the trend of the USD for today). Fairly good news is expected and should support the USD and put downward pressure on gold - SHORT-TIME ONLY ...
Keeping this post short here. Bullish pennant should take us to $575 based on fib extension. Due to overbought conditions on higher timeframes, we should see a heavy retrace to the .618 fib line at $443.
Overall, my bias is bullish for these next few weeks.
Sorry if this chart is too busy, but Jesus... My initial target was $5k. But because the bulls have managed to hold onto it for dear life, they've validated an ABCDE triangle and have widened themselves from our most important support line.
That is literally the worst thing they could have done. If the bulls had just accepted the loss, we could have dropped. hit ...
The price i currently at the 0.886 Fibonacci level (drawn from (0) to 1.54729
Where i could see the price be in a range zone from 1.55713 to 1.53964 which is also between 0.886 and 1.13 on fibonacci.
The price have been in a strong uptrend, where a trend channel also have formed on the daily chart. The price made a new high before starting to decrease, and can ...
BTC Forecast on the Four Hour:
Bulls have defended against a short-term head & shoulders (on smaller timeframes), though momentum is slowing and a bear flag forming here on the 4h.
We can expect a correction down to test prior price structure support around 7490 before continuing upward to attempt further bullish elliott waves. Two sets of fibs are drawn on the ...
This is for an educational review looking at trends in BTC. My sub wave count (smaller time frame 1-2-3-4-5 of c = 2 where 7500 marks start of wave 1) was invalidated, but the general trend is still very valid. Unfortunately, I won't get an A on the exam, that is ok. I had an alternate count with a higher C that and was feeling 60/40 on this, so I stayed away ...
The price have been holding below the 0.5 level on fibonacci, 12599.4.
And could be sending a signal, that the price have more downturn to come.
The price failed to break the 0.707 level on fibonacci, which is also the
resistance line in the trend channel. this can be a sign of further downside, also looking at the
aggressively bearish candle almost right ...
We've broken the long-term downtrend line, but there wasn't enough push in terms of volume and momentum. Therefore, we expect BTC to go down and visit the levels around $6500. We have to see accumulation of volume and different setup of the main indicators before we go up again.
What worries us the most at the moment is the Stochastic RSI that is pointing down on ...
The price is forming an anti new cypher, with fibonacci drawn from 0 to 1
Where a less risky entry will be at 80.430 which is also 1.618 on fibonacci.
The price is also performing a 5 wave sequence where the Minute have enden and startet the correctional waves
with Minuette and a W,X,Y,X,Z correction inside an ascending broadening wedge.
A correction is in ...
The 4hr of the EURUSD currently is identified in this analysis to be in a Minor wave C position that is part of an Elliott wave combination (W-X-Y) structure. Red lines on the chart indicate resistance where the EURUSD is expected to hold before continuing its downtrend.
Point of invalidation (POI) for this analysis is a price close above ~1.24104.
Ideal point ...
Looking Back on the chart, there have been a long downtrend on the 4 hour chart.
The price is consolidating through a rising wedge, and the third wave have been completed.
i see the price go down to 132.015 before further upside to the fifth and ending wave.
a long trade can be taken after the price have tested the support line in the rising wedge.
this is a ...
Price action suggesting a potential short term pull back to support at around 147.5
Potential for a short term short position, waiting for price to hit support before buying. Price seems to bounce well when it tests the 200 day moving average, particularly when accompanied by RSI which has given very few false positives in recent months. I'd like to see a ...
![BTCUSD: [BTC] 3 Wicks Down: Bulls Too Eager, Bearish Opening](https://s3.tradingview.com/u/UUaIYFIN_mid.png "[BTC] 3 Wicks Down: Bulls Too Eager, Bearish Opening")
