Greetings everybody, Market reasonably stands flat in recent few sessions as everybody waits for NFP numbers that should have decisive meaning, because of lack of any other information. Indeed, positive NFP supports USD and should trigger downside action on BTC. Because they mean that no new liquidity will be provided until elections. The opposite is also true...
Morning everybody, Despite some bullish activity on Friday, by our view it is not sufficient yet to break existing bearish setup on the market. In fact, everything is based on 11.2K top. Bulls have to wait either upward breakout of this level or completion of our major scenario with 9K target. We have positive outlook for long perspective and think that market...
Greetings everybody, So, first reaction, based on our 4H "222" Sell pattern looks nice, and it seems that it should continue, based on the situation that we see on stocks and other markets across the board. Thus, currently we do not see yet the reasons to change our daily view and expectations of deeper downside action. At first glance on 1H chart situation...
Morning folks, Market was so lazy last week, that actually not much to add. The only minor detail - bearish divergence on 1H chart. As our 4H "222" Sell is ready to trigger, divergence and minor bearish grabber bring additional confidence. All other things stand the same: target 8.8-9.1 daily K-support, invalidation point 11.20-11.40 resistance on 4H chart,...
Morning folks, BTC has reached predefined retracement targets and now is the moment of truth. We suggest that downside odds are higher now by few reasons. This is technical picture on weekly and daily charts and recent Fed statement. We think that it deserves stronger downside reaction as JP speech was supportive to USD, but somehow overall reaction stands...
Greetings everybody, So, market was so dead last week that we've made the only update on Monday. Still, coming Fed meeting is promised to be more interesting and provide some activity this time. Everything that we've said last week is still valid. We still keep our short-term bearish view and still think that BTC should show deeper retracement before finally...
Greetings everybody, BTC has dropped to ultimate XOP target of our H&S pattern directly. This means two things for us. First is, we cancel weekly AB-CD scenario with 14.5K target and turn to monthly butterfly pattern. It suggests that downside action will continue, as price now starts to form right wing of this pattern. As sell-off on daily was strong, we...
Morning guys, So, both our setups are done well. And now, actually we should return back to previous idea of 4H H&S pattern. You could find it in my ideas just two steps back. Now, theoretically you already should have bearish position, as last setup with bullish upside H&S pattern was the preparation and way to the top of right arm of 4H pattern. Recent...
Morning folks, Here is short update of our previous setup, use this chart in combination with previous one - 4H H&S potential pattern. Recall, that there, on 4H we're watching for the right top that theoretically should be completed around 12-12.15K area. Market has started gradual action to it. Meantime on 1H shart, right around neckline of large pattern, we...
Morning folks, So, our recent "222" Sell has worked, but this is not the major point right now. BTC has formed slightly new bottom, that opens road to deeper retracement within next week. As other markets across the board mostly expect dovish statement from the Fed today, BTC could join this party, if indeed they will be so. It makes us think about upside action...
Morning folks, So, our minor downside continuation has happened, although the shape of suggested AB-CD pattern has become a bit different. Still, overall price action stands very lazy in recent 1-2 weeks and almost provides no topics for discussion. In general, we do not see any worrying signs and market still keeps bullish context. It's invalidation point still...
Greetings everybody, Daily and higher time frame context still stands bullish, at least until price above 10.5K area. While in short-term, we aware of a bit deeper retracement. Once our last target around 12.5K has been hit, we have hoped for smaller pullback, as we've got acceleration on 1H chart to the target. Still, BTC has dropped more, erasing the whole...
Good morning folks, Market behaves quiet and just few things that we could add to previous view. In general, while price stands above 10.5K - it keeps our butterfly valid, as well as short-term bullish context. Thus, if you have taken longs already last week - now you could move stops to breakeven. If you did not - you could consider downside AB=CD inside the...
Morning folks, Last time we've discussed two upside scenarios. First one is based on minor butterfly and have suggested immediate upside continuation, while second one stands in relation to higher time frame and the pattern that could be formed there. As you can see, our minor butterfly stopped at 1.27 and then market has turned down. Still, this is just minor...
Morning folks, Our previous setup is based on reversal daily session and we've suggested appearing of "222" Sell pattern on 4H chart. Now this pattern stands in place. But yesterday BTC has formed bullish grabber pattern that suggests upside action above the top. In current circumstances, our "222" could give us just minimal target of 30% downside retracement...
Morning folks, Last week BTC has met first major target on daily chart. As it stands overbought and formed reversal bar, we expect that deeper retracement should happen, at least to 10K area. Probably it will be in a way of downside AB-CD (H&S) pattern. It means that today some minor upward pullback is possible, on lower time frame it could be "222" Sell...
Morning folks, So volatility is back and BTC has completed not only our 1.27 butterfly but 1.618 that is also daily COP target. As price now is overbought on daily, we suggest pullback today, at least to 10.5K 4H support level. It is suitable for buy trade, as upside pullback should be at least for 5/8, or even direct upside continuation. Anyway, nobody denies...
Morning guys, Today is great news as market stands at 10.2K and ready to challenge the daily top. This is promised to be the decisive journey as a lot of things will change is BTC will break it up. But this is different story. Now, as you can see market not just has hit our OP target but has reached XOP 1.618 extension, breaking 5/8 Fib level and totally erased...