Risk-off appetite is likely to follow this spectacular push through ATH across the major US markets. Trade concerns and elevated US risks.
With Powell taking a slight hawkish stance in relation to further cuts, and president Trump refusing to decide on a “potential date or location for signing a ‘phase one’ trade agreement with China” (Holt, Scotiabank) I expect...
With the announcement of yet another CFTC approved BTC exchange, technical factors are signalling a potential turnaround point.
Healthy pull back off recent highs:
1) 200D Moving Average Support (and 4H 200 & 12H 50)
2) Volume indicating maintained bullishness through consolidation/move down
3) Trendline breakout support
4) Horrizontal breakout support
5) RSI 1D...
Do to recent Macro economic events $USDCAD rebound looks to have stalled under the 40-day MA. Since the Fed has started cutting this spring, the greenback has faired well against the basket, perhaps even outperforming it’s underlying fundamentals. Investors Flock to the USD and other “safe heaven” currencies every time risk-off sentiment flares up. In theory,...
Another Dump on futures launch and after coiling in a consolidation (see November 2018).
Full analysis of coordinated selloffs later.
Market is currently tightening range on the dumps with diminishing sell pressue. Bottom Soon.
Here's the support I'm looking at that played into the above November move as well.
we are in a large symmetrical triangle, no reason consolidation should not continue.
1) hit top side and pulled back to now squeeze in the middle
2) below all 50/200 ma's on 1h->12h
3) hanging on weekly
expected move to at least 12h 200 ema @ 9800, at most bottom of pattern @ 9300, before continuing up to 20k.
*Wipes sweat off brow*
Well, that was a ride.
Reminds me a lot of when I started trading BTC in 2015 - the last time we broke out of a bear trend.
As my last chart detailed, we moved up through the 4-6k liquidity hole, and then kept going much further then I would have anticipated, showing it is taking very little liquidity to move this thing, but also good...
As I predicted a few weeks ago we moved up very quickly through the liquidity gap in the 4000's.
This allowed price to move up 15% with very little increase in open interest on the long side - meaning the liquidity gap is still there.
1) Huge sell off when we hit 5k
2) RSI bearish divergence on 4H
3) Stuck below 200 day moving averages
We just broke out of the top side of a bearish symmetrical triangle.
When a bearish pattern, that has played out repeatedly since December 2017, breaks the opposite direction, it is time to pay attention.
Shown with volume profile, there is a liquidity gap all the way up to 6k. Once we move we move.
With this, go forth,
I am not long yet, but when I am, it will be all or nothing.
We have been very slowly and excruciatingly grinding downwards which to me indicates the strength of bulls waiting to push out the negative sentiment. It looks like we will have one last break down to $3k range at which point sellers will be exhausted and there will be no resistance left in the way of...
Gold is forming a textbook ascending channel, a bearish continuation pattern.
Volume has been descending recently as it moved higher, showing weakening bulls, with the most recent selloff breaking out of volume indicating a bearish turnaround.
1) Ascending channel
2) Descending bullish volume
3) Turnaround bearish hammer w/ breakout sell volume
After a double bottom at $83, things are looking up in the ether.
Here are the factors pointing to $83 being our bottom:
1) Broke out of descending triangle/channel with descending volume (bullish turnaround) (red)
2) RSI & MACD crazy bullish divergence (green)
3) Volume breakout
It looks to be coming down right now - $98 looks like our next support area to hold...
The break below 6k was extremely significant because we consolidated on it for so long and everybody thought it was the unbreakable bottom. So, when we broke it, it was inevitable that price would fall through many supports before finding a turnaround on the strongest of supports, which many thought would be 3k (because of its previous strength & if not 3k then...
This is to redeem myself after that last call on ETH... quite wrong - however a good reminder of why we set stop losses and only trade extremes which allows us to cut losses quickly.
Classic continuation setup here today on ETHUSD with a symmetrical triangle.
With this fear and capitulation it creates a strong trend which fill follow through its course (with each...
Looking at Bitfinex's 4H ETHUSD market - which has stabilized again after our most recent bout of tether FUD - price has risen above all previous major resistance, turned support. It fell below its uptrend line on 10/29 and bounced on a throwback to the downtrend line on 11/03 leading to its jump through the uptrend line on high volume, suggesting strong buy...
ETHBTC has recently broken out of its downtrend line and is looking to throwback to the upper side of it for strength before it bounces and continues.
This perfectly coincides with the general market action where bitcoin is leading a sell off with ethereum following and alts are bottoming/turning around currently, which may be led by mother alt eth/btc.