BTC in critical area of the bear trend, will it hold?
IMO holders should remain doing so to see what happens with the triangulation, it doesn't help to see it now as it is already in oversold mode, we think it could be the case for the asset to be running out of weak hands...
In the other side, we have a negative divergence and a bearish triangle like this usually...
Hi, here we have BTC with a clear bullish divergence, in our opinion it signals a run towards a higher low? perhaps the 8k level at least. On the chart we can see the 61.8% fib to be a possible area of interest.
We suggest that the Brazilian Real is in a long cup&handle trend formation here showed on the monthly frame.
We expect an acceleration on the REAL devaluation once the 4 reais level is crossed.
Other fundamental aspects in favor of this view are the Brazilian Government several recent failed attempts to revert the current negative patter, the decaying Brazilian...
Keep eyes on the price of Gasoline, this could trigger a stock market contraction and recession as discretionary capital is sucked into gas higher prices.
Gasiline is trending above the 50 and 200 MAs, it is signalling over bought now however.
BTC presenting some mix signals, however, we suggest a week or more of consolidation between the 7-9k levels follow by a bullish take off towards the 10k and beyond.
We said before, we do not believe that Bitcoin will go much lower than the 61.8% Fib.
On the 4 hs, TRX double top, with SMA nearing a cross to a bear territory, volume decreasing, however in a trend wedge with favor the bulls and some big long positions sitting on the order book have been notice today. TRX is moving in a wedge formation at the moment, as said that this could mean continuation above the 200ma, but I have mix signals about it...
Declining trend, with a recent 100% moon shot...IMO is very unlikely that it will moon anytime soon. From the last moos shot the FIBs 50, 61 and 78% all got revisited...IMO on the 4h yoyo is due to cross below the 200ma with an impending sell signal with the 50-100 SMAs crossing.
Also oversold on the StochRSI
I am speculating on BTC shorts based on signals given by basic 50 and 200 SMAs.
Looking it, it seems very accurate if some consolidation period is given in between longer contraction moves.
KIS is definitely the best.
Despite my feeling that BTC would be visiting a lower level, as published before, I can't disregard the current trend strength, BTC is holding really well! Sustainability has to be seen in couple weeks, however BTC still making lower highs, which is a bullish sign on Classic TA.
I suggest that BCC/BCH has a possible moon shot towards its ATH's 38.2% retracement, which would be around $2400, a considerable leap from its current level of $1400.
The gains for this setup are in the excess of 70%, the downside considering current market is limited in our opinion, the estimated period for the trade is 20 days give or take.
The main condition for the trade is that BTC price action will go sideways or bullish for 1-4 weeks, that could ignite XRP towards a breakout mode.
This is a Long trade on XRP for a up move towards a 38.2% FIB based on its last ATH, 100% gain is possible if target is reached.
Entry $0.87 target $1.6ish
Play-out time 2-4 weeks
The volume profile shows a low...
This is a scenario that attempt to explain how the market feeds big shorts during price action, without the big position being formed move the market before it can be completely filled.
If big money attempted to fill their position otherwise, the market would run away from their target point.
This action has being explained few times and can be found here for...
It is clear IMO why BTC is due for a pullback... BTC has reached the 200ma now acting as a resistance, there will be profit taking now as well, so it is very likely that we will be going for a pull back now... perhaps to bounce in the 50ma which could act as a support?
My speculation here is that we can go as deep as a 61.8% retrancement IMO.
It is clear IMO why BTC is due for a pullback... BTC has reached the 200ma now acting as a resistance, there will be profit taking now as well, so it is very likely that we will be going for a pull back now... perhaps to bounce in the 50ma which could act as a support? around the 38.2% fib seems the best area IMO.
Other indicators showing an eminent pull...
BTC looking for a entrancement here IMO, except if a lot of capital comes in to change direction, with the double top I see it revisiting a 61.8% or even a 78.6% fib from the last take off point. Just my personal speculation on the price action.
We will be bouncing between the volume profile edges.