CapMoore

CapMoore

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 periodical...

CapMoore

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...

CapMoore

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...

CapMoore

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...

CapMoore

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...

CapMoore

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...

CapMoore

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...

CapMoore

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...

CapMoore

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...

CapMoore

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 should be...

CapMoore

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...

CapMoore

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...

CapMoore

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...

CapMoore

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. We also...

CapMoore

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...

CapMoore

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...

CapMoore

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. A...

CapMoore

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...