We are in uptrend on D1. Few weeks ago price penetrated 1300 level and bears weren't even able to retest it from the top. We formed flat correction. First failed breakout indicated volatility increase forecasting either impending breakout or second leg of correction. The latter happened, but it again, it was remarkably shallow and end up in failed test of 1305...
At 0.744 we have strong significant resistance level, three price maxima very close to it. Yesterday we had breakout up through the resistance, but it reversed which produced good short entry. Prices rallied with strong impulse and now we have head and shoulders pattern for continuation that offers another good entry into short trade. Short now, SL above right...
Complex correction with a triangle showing up. Last two pushes show that the pattern is close to end. Bears set themselves on highs, bulls on lows, and there is void in between. It could break two ways but long side is much less probable (strong momentum in the fall, then flat triangle correction). I would short this just below the triangle, with stoploss just...
We had two failed pullbacks, an upper trendline tested, then lower one broken and tested from below. On 1D we are in bearish consolidation. This is high R:R, high probability short.
After the sharp correction finished with expanding ending diagonal we had an impulse up, and a corrective ABC. It bounced from some secondary support level with big volume, so new bottom is not likely, and HnS pattern offers good entry. I am going long on breakout with stop below the right shoulder.
These things are typical to cryptocurrencies. If one shoots up hard especially when others barely moved, this is great long after a brief correction. Previous top is the stoploss so RR is 1 to 5 easily, at p>0.5
Weak buying at the bottom of the corrective leg met no supply, and thus moved the prices 60 cents with very little volume. Seems that no one selling at this level and price can go up very quickly when this move attracts interest..
This wave is clearly correction to recent bullish pullback due to its low momentum, and thus a bull market should continue. It's lower trendline was penetrated in third pullback after second one failed to rally, making some traders closing longs in spite of sharp C but this was negated, so these people are trapped out of market. XRP is a leader of previous rise...
As it seems the triangle everyone were betting on just failed. That means many of those people are going to trim their long positions soon, pushing market downwards. This should be a 4th wave ABC zigzag with target at 0.5.
Nice example of market drying out of investor interest and demand finally coming on heavy volume, marking the typical first wave of Elliot Wave Principle. Second wave look good as well and has ending diagonal in C. We are still close to the support level at $12, so we can setup SL slightly below, getting decent risk to reward.
This seems to be a trend reversal on 1D. We just finished a correction of a strong impulse move with corrective Elliot's count, and triple RSI/price divergence indicates that there should be no new bottom. The last fall was followed by very strong rally on heavy volume in 1 of 1 of 3 and a bull flag/ no supply in 2 of 1 of 3. These are favorable conditions for a...
