The amount of opened short positions is skyrocketing again. From 17k on Aug 2, it more than doubled by the end of the month and almost hit the previous record of 40k+.
Combined with the recent influx of negative news, it may very well try to reach the new high in the nearest future:
SEC Quashes More Bitcoin ETF Pitches in Another Blow to...
Lowering recent bearish trendline (red) and the major ascending channel are forming grand bullish pennant formation.
After two consequent breakup attempts, the price kept always returning inside the major uptrend pattern.
RSI is demonstrating strong support for BTC higher low on both H4 and Daily timeframes.
Interestingly, the amount of short...
While being in correction phase since December 2017, BTC has been forming grand bullish Wolfe wave (purple).
The minor bearish wave (yellow) with its target at point 6 was formed between points III and IV of the major structure and is currently working.
Recently, BTC experienced a sharp drop and bounced back to it's present 8.2k
Despite the fact...
While monitoring the current BTC correction, I stumbled upon a very interesting idea from:
First of all, I analyzed it from volume dynamics point of view. Then I saw some repeating similarities over certain periods of time as well as possible confirmation of classic definition of "previous resistance becoming support...
What looked like an almost free fall at certain point today for BTC is currently halted.
The price re-tested Dec 2017 lows and bounced back being supported by really high stopping volume at point 5 of the grand Wolfe-wave.
However, it is hard to say if this is really the long-awaited end of correction or just a dead cat bounce - in the last case, BTC...
As major BTC correction is still ongoing, most cryptos are following this course and XLM is no exception.
Stellar* formed well-established point 4 of the current Wolfe-wave which was backed by significant volume spike.
If the price continues its present descend, it is likely that it will re-test the indicated support level and form point 5 before resumption of...
After tremendous bullish run, Ripple entered correction phase and formed another Wolfe-wave.
Really high stopping volume at points 3 and 5 are confirming the validity of the pattern.
It is possible that the price will retest the recent low and will form double point 5 or even get to the indicated support line. If this is the case, it'll form another wave which...
Merry Christmas and Happy New Year! :-)
After almost hitting 20k landmark on 17 December, BTC started still ongoing correction.
This correction is taking the shape of the Wolfe wave (purple).
The validity of the major pattern is being confirmed by internal structure as the minor orange wave formed between points III* and IV.
Even though, this orange...
After reaching almost 11.5k, BTCUSD reversed back to its current lows thus forming slightly disproportional, but valid Wolfe wave pattern.
Its validity is being confirmed by solid volume spikes at key points indicating strong demand zone.
Fundamentally speaking, nothing is currently preventing BTC from keeping its previous pace and reaching new highs.
The wave is currently finalized and is working as planned:
I ended the previous post pointing at the lack of the volume required to confirm trend reversal at supposed point 5.
And in fact, for quite a while the price kept slowly drifting up and down without substantial moves in any direction.
This situation lasted until...
Good day, All!
Originally, I just wanted to publish another trading idea:
But the more I was looking at the chart, the more it looked like a good example of volume analysis technique.
Basically, the concept is pretty simple - when the price is testing strong supply/demand zones, support/resistance levels, trend lines/etc,...
After falling from consequent 2015 highs of 138.95 and 134.65 down to 101.88 in mid 2016, CHFJPY bounced back to 0.5 of its previous move where it faced strong supply zone and and thus formed point 5 of the major bearish yellow formation. Following that, the price resumed its downtrend.
Even though, this global outlook is...
Gold tried to breakthrough line 2-4 of the major pattern (dark purple) and formed another minor bearish WW formation (yellow):
If yellow wave is successful, it'll finalize the creation of major purple project.
Opened 6 short positions with SL slightly above the recent peak (yellow point 5) with TP at 1267/1256.
Classic bullish Wolfe wave is being shaped at Daily and technically speaking it is looking quite promising.
However, it contradicts the previous short setup which is working right now:
Once gold reaches point 5, it will be at the very same area as previous resistance line...
Good day, All!
The daily bearish DXY project is currently forming.
Once point 5 is shaped, it can provide quite an interesting short opportunity.
If this pattern works, it may also signify the continuation of the major bearish trend which started back in the beginning of 2017:
EURUSD has been forming major long project at Daily time frame since mid Aug 2017.
The internal structure of the pattern consists of the waves at lower time frames (H1/m30):
If successful, the minor bearish pink wave finalizes either blue pattern or in case of its breakup, will go directly to the point 5 of the yellow...
The bearish wave formation was completed by creation of double top at point 5 supported by RSI divergence at H1/H4.
After the test of 2-4 line area, the price retraced to 61.8 of previous move and provided opportunities for opening short position. It is possible that the price will re-test 1-3-5 area once again before beginning the descend. Both this level and...
CAD FX:USDCAD has been continuously strengthening versus USD since May 2017.
The last major breakout of the previous support level of 1.233x occurred on 06 September.
After that, the pair was moving inside the ascending triangle which is most likely to be the accumulation phase prior to the next major move. If indicated point 5 is reached, it will...