About meTechnical analysis of Fiat currencies and cryptocurrencies since 5 years on TV. The WothanCryptoEye Blog: https://steemit.com/@wothancryptoeye
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Clear, strong bullish divergence is visible on the daily and H4 timeframe, seen in two waves.
Price is in extended bearish territory with expanded bearish Kumo Clouds. Trend
followers will have to wait for entry until a buy signal appears by the Ichomku, while
traders using divergence has a golden opportunity to enter long, scale in or increase
Price has come off the 6000 mark and returned to the broken support line
(broken on June 10). This former support line intersects with a resistance
trend line going all the way back to the beginning of march. Price has tested
the support line from below and is now attempting to pierce through the
intersection of the both trend lines, while at the same time...
Looking at the log scale on the daily timeframe, we see that price is still
retracing some of the parabolic move that happened during 2017 especially.
A Triangle pattern has been broken to the downside and the SMA200 moving
average is also rolling over. This could lead to a sharp sell off and a move back
to the trendline marked in the chart, which would perhaps...
Price failed to find support by the Cloud on May 10 and broke inside
it with a strong candle. Now we see how its tested the lower Cloud
support and the Weekly S1 at 8000. There is some initial support
found but with the ascending lower Cloud chances are it will fail to
find the momentum needed to avoid shift trend from neutral to
bearish. However, if price makes...
Price tested the upper Cloud resistance after its breakout of the descending
long term trendline. It bounced off it and has fallen sharply to the lower end
of the Cloud and in confluence with the trendline, a test of it from above.
Bulls would like to see a strong rejection off the support and some signs of
that is now showing. However, until price breaks above...
We see price has moved above the Cloud on the daily timeframe and since been
oscillating above it, testing its support. The Monthly pivot point at 8470 is still
untraded and is a likely target if price breaks below the Weekly S1 at 8980.
On the H4 tf to the right price is attempting to break above the Cloud and shift
to bullish trend. After testing the Weekly pp...
Price is advancing above the daily Cloud and the march 20 top.
The projected Cloud is still bearish which may cause a pullback, but sometimes
in quick markets merely reflects strong sentiment
shift. The next natural resistance, if price holds above the daily Cloud is the
SMA200, currently at 9825 and above that the Monthly R1 at 10200. Bulls
would like to see a...
Price has tested and broken inside of the Cloud on daily timeframe, thus
shifting the trend from bearish to neutral. We also see how it bounced off
the broken SMA200before entering the Cloud. If we see continuation above
the 38,2 fib at 83,50, next likely level is the 50% fib which aligns with the
upper Cloud resistance. Above that, if broken, its the 61,8...
The pair has continued climbing after the significant trendline break
around mid april and is now stalling by the Cloud. We might see a
slight retracement from here to the new untraded Weekly pivot point
at 8550 and perhaps a retest of the broken Monthly pp at 8400/previous
top, best seen on the H4 chart to the right. Price has made higher highs
and higher lows...
Price has broken above a longer term trendline, seen on the
daily chart and has reached and tested the Monthly pivot point
as was the initial target of a breakout, at 8400. Currently
price is retracting from this level and we might see a test of
the new Weekly pivot point at 7800. We also see some
bearish divergence. A move down to approximately 7500
Price has reached the important trendline going back to the all time high
late last year. Bulls would like to see a clear break of it and also a move
above the Cloud and the SMA200, currently at 9600. Normally these
types of trendline breaks will be retested, either by the breakout level or
the trendline itself, but at rarer cases it will be left behind...
Price is still inside the triangle just below the Cloud resistance
on H4 timeframe. If we look at the daily chart to the left, we
see a longer term trendline that goes all the way back to Dec 17
and the all time high. It's been tested twice since the top and
if price can reach it again, it will be interesting to see if it can
break it. That would be a...
Price has continued to press lower with short relief rallies being
sold off. Currently it has broken the intraday trendline that goes
back to the 11490 high on March 5. We see that the break lacks
momentum and was quickly sold off and a retest of the trendline
is in place. This is also forming a triangle pattern.
If price breaks lower and close below the triangle...
Since the pair failed to hold inside the daily Cloud it has dropped off
significantly. We have a new monthly and weekly pivot point in place.
The monthly is at 8400 and the weekly 7250. We have to go all the way
to this hourly timeframe to see some signs of relief from the bearish
trend, as price now is probing above the Cloud, with a twist in place too.
Price has broken above the Cloud on a bullish twist, and we have
a buy signal in place, confirmed by the lagging span. Price has tested
the Daily R1 and is now retesting Cloud support and possibly the
Daily pivot point at 8750. Traders who use this timeframe and are
trendfollowers, could buy and trail a stop by the Kijun Sen (whtie
line) and use it either on a...
On the daily timeframe price is trying to form a bottom and did close above the
Weekly pivot point yesterday at 8470. The descending bullish projected Cloud is
something seen only in very volatile markets. Currently it has flattened but ideally
we like to see it expand and ascend, to "drag" price with it. The trend is bearish and
price is trading below the SMA200...
Price is sitting right by the 61,8 fib retracement of the swing Feb 6/Feb 20 and
currently a triangular pennant is formed between the two support & resistance
zones (red areas). The support zone below the current low stands at 7000 which
is the 78,6 fib and the Monthly S1. Price shouldn't daily close below the latter (6900)
since it would expose the 5900 low.
Not much is happening with Bitcoin the last days. Price is holding above
the SMA200 (blue line) and is being supported by the lower Cloud too.
If price close at current level with a doji, it will open below the Cloud
tomorrow. With a clearly bullish Cloud twist (though descending) the
normal scenario is that price returns back inside the Cloud with a...