Bitcoin had rallied from $4,000 to $10,000 since Jan 2019.
Currently, it's price is hovering $9000 and looks like we are having a descending channel.
The question is this...
Will the price breakout beyond $10,000 or below $9,000.
Honestly, nobody knows. Chances are IMHO is to the downside considering we never had a single price pullback since the rally.
Setup as follows. For 2nd TP target, will trail depending on price action
1. IMHO Bears in 4 Hour is still in command despite some bullish strength
2. We see consolidation once price reaches previous double top zone which could possibly mean bull weakness
Bat advanced pattern completion at point D coincides with potential seller zone.
Sell limit order at 'D' point of completion
Take profit at 38.2 & 61.8% fib level
Stop loss placed above price zone
Hi, it's been a while. Just wanted to share my thoughts on bitcoin.
Since the start of year 2018, all bitcoin had ever experience was a bear/crash market from its peak $19000 down to $3000.
Is this actually normal? Historically yes!
In the past every bear market bitcoin had experienced was a drastic fall (more than 60% of its gain) followed by a crazy bull...
Just a quick one here. High likely a cypher pattern on 1 hour time frame coincide with the resistance level; giving us additional confluence that sellers could step in to short the market at that price level.
Entry, stops and take profit as shown. TP2 at 61.8% fib retracement level
Hi, this pair recently had difficulty going lower in price and had breakout to the upside of the market.
Meaning? Expect a short term rally to the upside (For 4 Hour time frame at least) as market biases on higher time frame is still to the downside.
This setup specifically leverage on the broken resistance as support. Also, there is confluence on the RSI...
This pair atm is consolidating; You can have a look at 4 Hour time frame.
On the 1HR TF, market is currently consolidating at the key supply area, 1.6040. My second point here is the conventional head & shoulder pattern giving us more confluence to short this market.
Stop Loss: 1.6047
1st TP: 1.5920
2nd TP: 1.5830
As you can see here, there is a potential cypher pattern setup in USDJPY, 1 hour time frame. Secondly, if you would've take a look at the long candlestick which I had indicated with a red arrow, clearly the sellers are very strong at that particular zone levels. This gives us additional confluence on this short signal along with a valid entry from the cypher...
Based on chart analysis, we can tell that GBPUSD on 1 Hour time frame has been experiencing downtrend with several sequence lower high & low.
However, recent swings suggests that sellers are not willing to sell this pair lower. Which enables left shoulder of the pattern to act as support for the right shoulder; giving us a potential textbook H&S pattern. This is...