Last idea was about going short ETH. Now we've pretty much reached our target and I remembered this channel that I've used when I was fishing for a bottom in ETH. I actually bought eth then at around 70 euros. But I sold quickly since I didn't believe the bounce as most us here didn't. And watched the price run away. Well now we've got an entry at same exact spot...
Ethereum is following it's downtrend channel very well. And this weekly reversal candle closed below the downtrend median line exactly.
So this is a good opportunity for a nice short trade. The odds of a reversal after a test of the median line are very good.
For confirmation this weeks candle should close below median line as well.
Too bad I missed the exact entry at 1435. But there's plenty of room for gold to drop now up to around 1335. Looking at it from the long term perspective I'd say gold is in a Bear market rally which will take it to 1700 maybe.
So for this trade the entry is: 1425
Stop loss: 1439
Take profit: 1355-1335
We've just reached the longterm median line on BTC. Highely likely this is going to be it for now. Most of the oscilators are in deeply overbought teritory. Euphoria is plentiful. Everyone again thinks this is going to the moon in a couple a months. But this move seems way to aggresive to be sustainable so buckle up there's gonna be a ride down to reset the...
I've compiled a few charts I've posted in the past year warning about the economic reality of the times we're in now. My predictions we're pretty accurate up to this point, and I see no reason for it to change. Contrary the evidence for an imminent reccesion only keeps piling up. The front end of the yield curve has started to invert with the 2 year...
Bitcoin shorts got too excited. Typically it's a good contrarian indicator, it's tell's us that the sentiment is ultra bearish ATM. The only problem is who's going to sell when everyone already sold short on margin. Buying longterm here is a good idea, even though downside is plausible and i'd say still probable (60%). Check out my reasoning in the chart I've...
Bitcoin bearmarket is going according to plan. It just got oversold a bit too much right now and will most likely retrace to previous breakdown range of around 5-5k 6k. Other than that check the reffered chart I've posted some time ago. We've now hit 70 percent line, but we've still got room to drop.
This chart looks at the trend all the way back from the great depression in 1930's.
Now I've put arrows where the resistance and support levels are and marked the RSI divergence similarities between all the recent market topping patterns beginning from 1987 then 2000 then 2008 and now in 2018.
The 2000 market topping was extremely prolonged but the divergence is...
Oil is severily oversold, the news on the fundamental side is also fairly negative. Seems like a ripe opportunity for a bounce. Yet I don't believe oil will be going any higher than the expected bounce anytime soon.
On the chart above I've displayed what IMHO are the odds that price will the reach the specified median lines.
There's a strong uptrend support at the 50% line. The range below 50% line has been consolidated troughout 2014-2017. The range above the 50% line has yet to be consolidated.
Also this bull market extended the price range by 2 levels, coincidently the...
Been waiting for this moment so long. Finally reached the meadian line. Buying with a stop below somewhere this line. I'll update later.
But for this correction to be fully over i'd be more comfortable for the price to break below this line somewhat