0.38 fib on daily wasnt breached before drop, indicating healthy correction. This leads to believe 0.618 would hold as a good spot to long.
Reasons it would hold:
- Tenkan sitting
- 0.618 fib level
- end of moderate correction fib of 2.6
- 0.38fib not breached yet
- lots of incentive/liquidity there.
Note: if 0.7 fib/6422$ gets breached, this...
As we can see, the 5.8k level held and so bulls are eager to enter into positions (displayed by the parabolic 1H). a great place to hedge long/long at this point would be 6k-6.1k with target of 6.7k-7k.
why 6k-6.1k as support to hedge:
- 0.618 - 0.78 fib levels
- previous support before liquidity pool
why 6.7k-7k as target:
- 0.618 fib level
As mentioned in previous post, 7.3k to 6.7k was the liquidity pool which meant that break of 7.2k would send us immediately to 6.8-6.6k.
This last line of defence for the short term would be 6.7k for the following reasons.
- 0.38/0.61 fib ret. levels
- sell off cooled down/retrace time(upwards)
- liquidity used up for shorters (at 6.7k that is)/trend pauses &...
If you shorted 8.5k you should be looking to hedge your shorts near 7.1-7.3k region to stay on the safe side. If you were flat, its also a good micro RR/scalp if target was 8.7k and SL at 7k= 8/1 RR.
Why 7.1k-7.3k will hold:
- 1D tenkan
- 1D kijun
- 3D kijun
- 0.5 fib ret.
- Rsi reset
Note: If 7.1-7.3k region doesn't hold, 6.8k is the other side of liquidity,...
Given the liquidity pool created for another move up, we can target 8.6k-8.9k as the next block of resistance and reversal.
Expecting stop loss hunting for a few more days until big bids are wicked.
why 8.8k as resistance:
- 3D kijun sitting
- 1W tenkan
- 0.6 fib retrace has held in the past
- once liquidity is used up, trend pauses
- and once...
As heavy volume came in with a lot of leveraged shorts underwater from sub 6.8k, the nonstop stop haunt has made bitcoin rally to these new levels. Some might have insisted and probably added more leveraged shorts, creating more and more liquidity for a higher push. This phenomena is called continual short squeeze.
These continual short squeezes end up with high...
I am rethinking my strategy and targets ( ) as volume has been disappointing. we can see that 6300$ is a very tough resistance to break. We had 2 wicks through it but never closed above it.
why 6300 region is tough barrier to break:
- Tenkan 1D
- Kijun 12H
- 0.5 fib retrace
Bitcoin inverse chart tells us that we are still in a bear market until we close near 4.7k--which also means that there might be a flush daily candle with wicks in lower 4k.
based on the information provided, 6.9 and 7.4k are the bull targets for now. Reasons:
- Guppy stretched
- reversal daily candle
- fib ext. 0.78 confluence with fib retrace 0.3 -->6.9k
When Bitcoin falls to 6.3k as my forecast, EOS would be a great buy at those levels .
6-7 lines are congesting, signaling volatility. So a long wick at the support is expected after the flush of panics. spread limit orders as needed.
Given my Bitcoin Analysis, in the next few days when bitcoin visits 6.3k, it would be a good idea to accumulate some ADA in 2k-2.1k sat range.
Note: only accumulate if and when bitcoin does visit 6.3k and holds. A potential 34% gain over BTC seems reasonable.
As Crude Oil productions flatten in 2018, the price will have to revisit $66-$69$ marks soon enough--Rsi is overbought as well.
90$ should be reached before oil productions increase (higher supply than demand) leading to falling prices-->real financial market collapse.
Leaving it here only as a timestamp for myself and the folks interested in...
Silver has teased the buy zone enough times to believe there will be a prolonged if not moderate accumulation again this year until next year summer.
Based on demand and supply of oil (another limited commodity) and its price action, one could see the reason why it would accumulate during lower prices of oil and then begin to move higher as oil prices rise again...