Bitcoin is bearish. Start realising it, as I have been reminding many of you since $8700.
When Bitcoin typically breaks out of a bear market, which it has done, it reaches the .382 level of retracement from the all time high. Now this is subjective depending on how you draw, but it could have easily already been hit. Looking at the long term trend, it is clear...
We can see higher lows and lower highs for Bitcoin as highlighted by the yellow circles, which indicates we're going to see a breakout soon.
We're being firmly trapped by the 4h 200ema, and also supported by the month long trend line. With volume clearly dropping off with Ethereum hogging the limelight, it is unlikely we will break this 200EMA with any...
My attempt at an elliot wave. More experimental than anything else. Clear five waves up and an abc correction hitting the .382 fib level.
This is followed up by another five waves, and it looks as though this will be wave 3 in a grand wave upwards, ready for wave 4 hitting around $100 (on bitfinex) which is .618 level, as wave 2 hit .382.
Falling wedge on BTC approaching a very big area, $3k.
Watching the reactions to both the upper and lower trend lines . Dependent on where it goes, it may be wise to go long should we see a final leg down to test 3k, and put the stop just beyond the trend line . Either way, 3k should see a significant reaction, and this lines up with a falling wedge .
What do I see from the charts..
The FTSE 100 is the highest its been ever. Mainly due to the fact a weaker pound has improved the price competitiveness of our exports which has pushed the ftse over the last two years.
Of course, the main factor of this chart is going to be news on brexit, so concentration on brexit news will be important. The relationship...
Position opened 1238.15
Triple top formation, two clear bands, three clear heads.
Bearish divergence on the MACD (and RSI)
S&P rejection of 2650 range, potential for a bit more upside.
Target 1 - 1228
Target 2 - 1221
Target 3 - 1211
SL - 2141
RR = 3:1+
Gold broken past range after finding support at 1185.
Forming a bullflag, key range broken - first target is 1240, SL at 1213
High RR trade, targeting some confluence between 200ema on the 1D, horizontal resistance and the .382 fib retracement level from this bear trend from April 13th.
Position opened at 1217.