Weekly charts represents series of data points where each data point is comprised of the price movement for a single week of trading.
This chart type has been used for a long time by traders and typically applicable for long-term trading.
So, it seems I over-estimated BTC.
It doesn't pump as expected, until not yet, we still have half a day until the weekly candle close.
If no miracle happens, and the weekly closes like this, this would be certainly a very bad sign, and we would continue to dump down to the SQRT support, at around 2k.
The question then is, what will happen in 2019.
Please don't trade based on my technical analysis alone. This is only meant to provide you with new ideas and new insight to improve your own unique approach to trading. I don't expect to accurately predict what the price will do. I just enjoy imaging different scenarios that could happen. Enjoy!
Altcoins have been on a dramatic bear run ever since topping out in ...
Some quick but important analysis on the weekly chart of bitcoin as we enter the middle of December 2018.....
firstly PLEASE click on the thumbs up/like button and leave a comment below if you have any questions or thoughts on this ...
LTCBTC has been holding quite strong despite how other coins have seriously dropped in prices. However, this coin has the potential to fall more based on some little technical studies.
We found this analysis on two measurements.
1. The 38% and 50% Fibonacci retracement levels: You will notice a support and resistance were formed at 0.00759 and 0.00985 on the ...
Whats up everyone ?
Coming back with a position trade, we are holding since 4 weeks on GBPCAD. The trade was first taken on the 4h timeframe bases, but as we zoomed out our take profit got larger. We are now on a daily timeframe analysis with two correction levels marked in yellow boxes. Our entry was at the top of level 2 correction and is now in profit +350 ...
Bitcoin clings to the last reference support, unfortunately it does it below the R & S and far from the horizontal support. These conditions make the analysis very difficult and subjective, leaving no option but to wait for it to generate an analysable structure according to my system.
The next important support is at 2500. I'm not saying that I think BTC is going ...
The weekly timeframe seems to clearly show where the sellers are pushing the price of Bitcoin to. Or are we going to have a retracement to test the $5000 resistance area at the end of this week, as the RSI approaches the oversold region? Please share your ideas?
Hey traders, hope everyone enjoyed their weekend.
Coming up with a quick educational post about our market theory on a lower 1h timeframe. We are in a short on EURCHF since a few days. Looking at the lower time frame setups we can clearly see how a bullish run with two corrections (marked in yellow boxes) happened. On the other side this is a nice chart for price ...
The descendig triangle target has pretty much been reached. The 200 week MA seems to be supporting the price. The RSI is touching the oversold condition.
I would not be surprised with a relief rally into the 128 week MA, around 5k, before resuming the drop.
The 3-week RSI is the same as the support in 2013.
It's probably good to see the holder holding and the volume growing.
That support line drawn on the chart is where the last part of my capital will go. All-in to the new top.