After that break there have been already: the 1st wave impetus and retrace with a double test of 0.1660. The price is currently slightly higher, with a sign of buying from the counter-trend. There is a buy-stop trigger @0.2050 with a stop of 0.1660 & targets @0.2740, 0.42 & higher if the price fills 0.2740. The coin is to be on your watch list definitely. ...
Happy fishy day Thursday, Dear Swing Traders! The exit out of the descending wedge without a bear trap - a possible outcome of this formation - has apparently lead to quite a deferred price exit out of a large correction channel. The reason for that - the triangle which, as you can judge, has the perspective to trap the price until the third decade of April....
Hello Dear Swing Traders! What kind of even more complexed structure we are having today! Nevertheless, such a large wedge on a daily graph normally dictates also a more consistent execution than the one on a younger timeframe. The "sweet zone" goal of ours will be a little higher now - 35.5K - with the same scenario in place, let us believe. Such "beating about...
Happy Friday, Dear Swing Traders! Have a look at my graph & have a couple of drinks perhaps for that idea. It appeared only an hour ago with the descending wedge upper border painting via the latest local high. We have now that wedge target which would be the 3rd point on the correction channel lower border. Simultaneously we will be experiencing a false break of...
Happy Fishy Day Thursday, Dear Swing Traders, While BTC is "in the middle of nowhere" let's have a look at also relatively boring in terms of the current move timescale TORN. You can surely sell it off within the framework of the bearish Wolfe' pattern aiming at the levels below $20 on the target line 1-4-6. However, that is likely to be the intermediate goal...
"Price action" overnight on Friday now leads to the familiar scheme of the correction channel upper border false break. We've got again a certain misleading transformation from the broadening wedge to the channel. However, your vision, we hope, still remains bearish since the impetus has been made in price weakness. Either 47K or 48K - irrelevant, these are to be...
What a day, Dear swing traders! I know that you all counter attacked yesterday from the levels above 38650. I only wanted to draw your attention to the fact that yesterday we witnessed "the small copy" of a broadening wedge upper border false break. I have marked the main one on the graph as well. And there is still an opportunity to reach 38K before that....
So Dear swing Traders, As of the end of Feb the price needs only a couple of jumps down to 32K to lock the trap with its high at 45.5K. Once we are under the upper border of the broadening wedge we'll be heading for the goal on the lower border - 8.5K at the moment, bearing in mind that the H&S goal is a little higher - 12.3K. In other words the price will settle...
There was a chance on Friday to strengthen above 62500 within the 4-hour chart framework of a rising channel but instead we have seen 3 consecutive fresh lows below 60K. This has now resulted in price weakness after the relevant impetus above 62K. Moreover, we are facing H&S structure with a target @51400 (7800 dollars down from the neck line). The best thing...
What kind of market reaction are you waiting for in response to the forthcoming SEC decision today, tomorrow and on the 25th? Most likely negative taking into consideration where BTC is at the moment. Overnight the price has painted the local swing low @58950 and that is exactly the level starting from which the bulls’ problems might begin. Lower than 58950 the...
Though the previous 58500 swing high was more than enough to sell off but taking off the stops above the 10th of May 59580 and not giving only 0.06 USD to the market to reach 60K is a good idea indeed. With this impetus in the extreme weakness area the targets upon the channel lower border break-out should be automatically extended - from 24.5K to 12.3K. The...
After an ideally painted 2nd point on the upper border of a very large correction channel we were pleased to see the complete bearish Wolfe’s pattern execution on top of the chart followed by a deep retrace. The further descending way of the price might very well be fast, severe and sustained. After breaking of 50400 we are likely to see the price impetus...
The way the price has been climbing up towards 57K since last Thursday proves to be very exhaustive one: as in December 2017 on the daily chart we can see the rising wedge which was generated within a trap above 51500. Thus the overall picture suggests a very large correction channel to the previous rise of 55000 dollars (until high of the 14th of April)....
Yesterday’s work against irrationality brought the price back to the broadening wedge new entry trigger @54560. However, this morning we can see no price strengthening within the wedge framework. At the same time, we’ve got a break of a strong support level of 54560 with its low @54140. This so far false break will turn into the true one as long as the price goes...
Two 4-hour timeframes candles @ 9 a.m. @ 1 p.m. CET yesterday diverted the attention of bulls from the necessity to step back to 48K level before breaking a very strong one @50380. Since it was not done and we currently show the price weakness instead of its strength the buyers have now found themselves in a double trap - above 51K on top of the previous 50380....
A Friday 3-minute impetus of 2200 dollars at 11 a.m. CET has changed the picture but not significantly enough, as we can see on Monday morning. Despite the formed broadening (blue) wedge last night’s attempt to launch the price from its 3rd point and even out from a trap below its lower side has ended in failure. However, at the moment the price being again in...
Happy Friday, Dear swing traders! To break 40800 is surely not that easy as it might seem at first look. The BTC chart was to consume more "bullish meat" and therefore it needed another trap which we are currently showing. All in all both deep & shallow retraces are in place (yellow ovals) in order that the the main target of 30300 could be activated once any new...