ShaheenFahmy

ShaheenFahmy

Gold currently respecting weekly support. Managed to break through downtrend channel on 4h. Bullflag forming as well - expecting at least 100 Pips to the upside.

ShaheenFahmy

Many factors pointing downwards: - Proper rejection of price reversal zone (grey zone) -Rejected 0.618 Fib level -Overbought RSI & Stoch RSI -Potential H&S forming

ShaheenFahmy Updated 

Let's get right into it. I was definetly wrong by expecting BTC to bottom out BEFORE some sort of pullback to the upside. That's what trading & investing is. You can't/won't be always right, and in case you were wrong, you SHOULD admit it and adapt to the most recent developments. During my previous analysis, I mentioned the possibility of BTC reaching...

ShaheenFahmy Updated 

Expecting a bounce from here (0.5 FIB + trendline) TP 1: 152.197 TP 2: 152.990 SL: 150.343

ShaheenFahmy Updated 

We might have an opportunity for fast pips here. Currently moving within wedge + touching multiple support levels. TP: 1.23702 (93.3 Pips) SL: 1.22055 (71.4 Pips)

ShaheenFahmy Updated 

As expected, BTC failed to get a sustainable brekaout above the 9.000$ mark. We got a retracement of almost 500$ over the past few hours. Anyways, things are getting pretty interesting now and I'm still considering a bearish outcome to be the MOST LIKELY one. However, I do NOT EXCLUDE a bullish outcome. BEARISH OUTCOME It looks like BTC has been forming...

ShaheenFahmy Updated 

Right now, it's make or break for Bitcoin. We are currently testing December's resistance line. On the Auto-Scale, we broke through that line already, but not on the logscale. The overall sentiment is bullish and I don't get why to be quite honest with you. Yes, we had a 30% increase in two weeks. Yes, we are forming higher highs and higher lows short term....

ShaheenFahmy Updated 

Probably going down from here. Entry either now or @ 108.544 TP: 105.862 SL:108.895

ShaheenFahmy Updated 

www.tradingview.com Currently at supply zone. Expecting a pullback within next week. Notice the bearish divergence on the daily chart as well. TP1: 152.315 TP2: 151.020 SL: 154.200 Happy & Safe Trading!

ShaheenFahmy Updated 

BTC is currently fighting it's way up and forming a rising channel. I'm personally expecting a pop up within the next few days. History loves to repeat itself. That's why I expect the upcoming upwardsmomentum to be the final leg up, before we have capitulation taking place. Notice how during March the exact same channel has been formed after price boomed to the...

ShaheenFahmy Updated 

Great evening ladies and gentlemen, so today we got a pretty unexpected & strong pump. This pump invalidated my initial idea of retesting 5.800$ this week. Since then, we had some sort of consolidation, which made us form a bullflag. Target of the afore mentioned bull flag would be around 8.800$, which would correlate with our previous high/resistance during...

ShaheenFahmy Updated 

To be straight forward honest with you, I did not expect BTC to reach 7k before the major leg down. But there are two important things I'd like to talk about. 1. Notice how on the log scale we didn't even break through March's downtrend. Remembers me of the time when BTC broke through December's resistance on the auto scale, everybody was bullish and nothing...

ShaheenFahmy Updated 

Great evening everybody, yesterday I made a recommendation on when to short BTC. Everybody who followed my advice should have made some money. Enough of the self-praise though, let's get to the analysis. By now you should notice that the similiarties between now and 2013/2014 are NOT neglectable. It's pretty obvious that BTC is moving much faster...

ShaheenFahmy Updated 

Alright Ladies and Gentlemen, as expected, the bounce from 6.500 $ towards 7.400$ was nothing but just another bull trap. We had decreasing Volume and an increasing price. Nothing bullish about that to be quite honest with you. There were multiple resistances at 7.400$ as you can see (Red downtrend channel). Right now, we are moving under July's supportline. A...

ShaheenFahmy Updated 

Patience is key. There's something interesting to notice. Everytime we're having a BTC bounce towards a LOWER HIGH, people all of a sudden become euphoric & bullish, claiming the bear market is over. There is no reason to be bullish at all. Old supports are turned into new resistances. Right now, BTC is doing nothing but confirming a new resistance around...

ShaheenFahmy Updated 

Bitcoin is currently moving within a key support/resistance level. It's very likely that 7800 $ is going to fail as a support, forcing Bitcoin towards the next key zone, which would be around 7150$-6900$ (0.786 Retracement + Trendline from March 2k17). Stoch RSI indicates further downwards momentum. If the afore mentioned support fails yet again, it's likely...

ShaheenFahmy Updated 

I love to boil things down to an essence. Everytime BTC broke through one of the white support lines, it took an average of 6-7 days to achieve a new spike low. Thus I expect BTC to retest 5.8k$ in the course of the next week, forming a double bottom. Stoch RSI is moving within the oversold range, so a bounce from there is not to be excluded. Anyways, I...

ShaheenFahmy Updated 

So, overall Bitcoin is showing a few bullish signs. I believe that the drop from 20k to 5,8k formed corrective ABC Waves. If that's the case, we can expect impulsive waves higher. Furthermore, BTC seems to be forming an inverted H & S pattern. If Bitcoin manages to breakout the neckline (around 11,3k), 17k is a likely scenario. Hard to say when exactly, but...