Eruption means here going high fast then plunging down. That's what I think has started to occur. Another eruption may occur also at any time (the second quake), but that is still really hypothetical so let the "price" "lava" falls down fist. (blablabla)
This is a very special analysis this time for 2 reasons. I'm doing my analysis on a 1-HOUR chart and
It looks like we are falling on an upward trendline. if it holds it may be a good long. I would wait until after the New York session to see if price pushes through or holds. if possible, enter around 111.696, Place stop at 110.922 Target 113.693.
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Price is above SMA 100 which is about to cross SMA 200 - bullish signal.
Short-term target 0,75$ with retrace then to 0,65$ levels.
Supports - 0,58$ and 0,48$ which can be used as stop losses.
Happy trade :)
Very important level for Bitcoin, making higher low, and close to the decision point.
Price rejected the 6550$ area and formed symmetrical triangle with support area of 6100$.
Waiting at this moment for price action - 50% up/50% down, so far the price has showed poor performance and still under SMA 200 so bulls need to show their serious balls.
Based on my analysis :
Since September 14th we've entered a channel, and exiting it will mark the real direction the market will go.
I'm seeing the bulls power is "sanding" a bit. What is sure, for me, there is too many uncertainties right now to take action. The UP move is a bit compromised as it is now.
Also, I've seen 2 of my support levels (violet lines) are...
BTGUSD Next Short Set-Up from Here
The wider spread compared to BCHUSD has seen
volume shrink away on this pair and swell on BCH.
But it's still a good shorting vehicle nevertheless. It halved
from 26 to 13 in a matter of days for example.
"No coin is ever too low to sell" - to update a W D Gann quote
for the 21st century.
The downtrend is still strong here...
This has been a good short through most of August, down 20%+
from the 542 break level to 426 now.
There was a second chance to short again from the lower
green arrow as it broke the continuation pattern at 46 which
has yielded close to 10% this week.
But it's making a little double bottom here and the near term
downside target has been touched...
NEOUSD Update and Next Trade Points
It's been a week since the last scan across the top 20 or so coins.
A lot has happened in 7/8 days.
Remember that no coin is too low to sell and likelwise in a bull market no coin is too high to buy.
Remember also that we play a game of probability. Some play momentum and volatility and some play hunches and mistaken beliefs....
A close-up to support the idea I just posted, of what might be a last 5-waves down. If the fib channel plays out, we'll see a move up to the 50% line around 1760, and then a move down. Support to break is around 1350 (big significant previous low), and if we pass the that point people will dump their BTS and we dip down to 900 sats levels.
Or not! As always,...
Sterling has spent all of August in free-fall.
After breaking below the support line at 1.3029 it's finished the week right on the next line of support at 1.2766 after a low on Friday at 1.2723 .
It should counter-rally some more from here, potentially as high as 1.2928-1.2957 at best before it comes off again back to current levels at least.