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With strong economic data, and Italy now having entered a technical recession, I can see the DOLLAR ready to make a big move to the upside.
The target is 96.5.
Another reason for DXY to meet this target is due to a gap that hasn't been filled yet. The MACD has suggested that the last sell off has been exhausted, and the bullish impulse is ready to take...
BTC seems to be approaching the critical zone of the 3.2-3.4k region. I have been very accurately calling these lower highs after lower highs through out this bearish period, and I believe a break of this structure will result in massive selling, which will probably not stop at 2.8k if this level is breached.
I am still holding shorts from the 3700 level, but...
After I have been calling for a big downturn since the 4200 level (actually, since 8k, when perma-fools were saying 10k was imminent and the bottom has been seen), and called the recent hell candle from 4100 with laser precision, I have been getting a lot of hate because of perma-fools getting excited over 100$ liquidity spikes after a 200$ down move.
Noticing a bear flag being formed. After a harsh rejection off key levels, I am expecting a continuation downwards. Nothing in this chart has told me that the mid-term trend is ready to reverse.
Still eyeing a potential reaction at the 3.1 - 3.2k level.
Previous upswing failed to breakout, and the 0.618 level was breached, meaning that a much more bearish move is to come. I am targeting around 3200 to even 3100 for the next downturn.
Short level: 3700-3750
Target Profit: 3200
Stop Loss: 3850
We notice here a rejection off the 4200 level on Bitfinex, a rejection of the previous high (no higher high) and also a rejection of the bull flag pattern.
I can see a double top forming and momentum dropping strongly to the bear side and a revisit to the mid 3k level.
Short positions are down significantly compared to long position, so there is more incentive...
Noticing a new pattern being formed in the shape of an ascending triangle. I have went long on the 0.5 fib bounce.
We also notice a compression on the MACD.
My stop loss is now 3800.
A re-test of 4.3k is at a probability of 56%
If the 0.618 fib holds (3600 level), I'm expecting a completion of the right shoulder of this big inverse H&S being formed on most high time frames.
Technically, it is a buy above a clean break of 4400 (stronk resistance), but a buy with a stop right below the 0.707 is a decent r/r play
Target profit: 5600
BTC Short Zone: 4000-4100
Stop loss: 4300
Target Profit: 3630
After my successful ride down from 3900 to 3100, I'm looking for a pullback to the 0.618 fib, or the 3600 level. This is a great opportunity to short now with relatively safe leverage (5-10x). Multiple 4 hour doji wicks and overbought MACD suggest bullish exhaustion.
Looking at a weekly time frame, I am noticing a lot of bear candles. Normally this will indicate a strong downtrend, but I can see a bounce happening soon to the low 4k level (maybe even mid 5k level if this ponzi gets enough strength for a rally, once it hits the 2.8k support. Otherwise, if the trend keeps with a strong downtrend momentum, I can see 1k levels....