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This is a short that should not be missed. We have bearish divergences on the daily timeframe and the price is at the 0.5 retracement level. It could go up to the 0.65 retracement level, where is the resistance of the ascending broadening wedge so ladder your shorts carefully.
We've said this many times, we buy falling markets and sell rising markets.
Price action indicates that we could go up to test the support of the descending triangle which is exactly at the 0.5 retracement level of the last swing high to the current swing low. We love to trade the 0.65 so it's a good idea to have some orders there too. In case it starts falling ...
Where can you buy ETH again if it creates a new low? In this case we believe that the bottom could be somewhere between 151 and 135 (with accent on 135). There are three exact prices at which we can place orders: 151, 144 and 135, they are only based on fib relationships which we consider to be far more important than classical support and resistance levels.
BTC finally broke out of the descending and started a new trend. On the long run we are bullish but first we need to reach some key levels. We expect to see a bounce from 5177-5300 area and maybe the end of the bear market somewhere between 4374-4261. If the second area doesn't hold, the last area 3252-3064 has the highest chances to hold.
The current price action is not bullish at all but on the contrary is very bearish especially if the daily chart closes under the pink trend line.
Once again we can see the power of fibs. The price got rejected at the 0.5 from swing high to swing low, approximately at the same level as the 100 Daily MA. According to our fib based TA the price needs to break a ...
So, BTC is testing the resistance of the blue symmetric triangle and maybe we will see a breakout that is strong enough to push the price through the upper band of the BB with source set on high. Volatility is near ATL and a push through the upper band on the daily chart is what the bulls want to see because it could be the start of a small bull run that will ...
There are multiple ways to trade this:
1. Short the 0.5 and the 0.65 separately with SL between them
2. Short the break down from the wedge or channel
As long as XRP trades under the 0.65 we have a bearish view.
BTC is preparing for a big move, probably 50%, it could be even more if it chooses to go up. If you look at the volatility chart you will notice that every time volatility was so low on the 3d chart BTC made a move of at least 42% and in a few days BTC will have to choose a direction because we are getting very close to the ...
If you look at the chart you will see that during the bull trend, after each impulse we had a correction which ended most of the times right at the 0.65 (measured from the beginning to the end of the impulse) retracement level and never under it.
The current bear market started when a new impulse failed to break the 0.65 retracement level of the ...