USDTRY / H1 / Technical Chart
I shared this chart at 14 January
and Today it broke the triangle, and it is time for open additional lot
Still I am Waiting for 4,90
move stops to 5,40 levels, and we secure 400 pips for the trade that we ...
look I'm not saying this is going to happen. but I do think people should keep in mind that it is possible this looks to me like a parabolic trend and parabolic trends cant go on for ever so just keep an open mind about this .
Looking at BTC's previous retracement levels after hitting its all-time high in December, you can see a big difference in our most recent bounce in comparison to its previous bounce. In all of it's previous recoveries, Bitcoin hit at least the .5 retracement level and most often hit the .618. However, in this latest bounce, BTC has even failed to hit the .382 ...
As it is demonstrated on the chart above the main trend is bearish but before that we probably have a upward movement to the 3819.5 level. Notice that there is a small chance which price rise to the 3971.0 level and reach the upper line of the channel and retrace 61.8% of wave ((i)).
BTC weakly looking a bit on the weak side .
But... ! BTC still has to complete the move to 5/6k to wrap up this play. This move should come after a bounce at 3.2k.
This bounce will be the first lead-in for the bottom move and BTC should then move to 5/6k. This first lead-in move will also be a bull-trap
The second and final lead-in move is at ...
A sharp decline due to bad news competition from grin, gov't regs, bad press? could be...
Followed by market realization that Monero is a superior MONEY. The specifics of the technology is less important that a design for sound money!
Here is a basic channel rotation. After visiting the upper band of the channel at the beginning of the year, it is time now to visit the lower band. I have a few reasons for that:
1) See the weighted average USD. It broke the wedge formation and currently visited the lower band of the wedge formation as well as the EMAs and Key Fibo level. I expect USD to get ...
The main plan: to sell EURUSD from the level of 1.1420 or 1.1460 with the target of 1.1300.
The market is squeezed, so a correction to 50% Fib is likely.
Probability: 60% (average)
Reserve plan: buy EURUSD in the zone: 1.1480 - 1.1500.
Support 0.618% Fib.
Change of bearish impulse to bullish.
Probability: 40% (average)
Now that the bears that were banking on solid resistance at 50MA are mostly taken out, I think we will end today solidly in the green and have a TEMPORARY reversal early next week. I still think that we can resume the rally after this correction. As you can see, the MFI-7 is WAY overbought, and judging based on past accuracy, i'd say we're due for a correction so ...