Greetings everybody, So, our bullish scenario is completed on 1H chart and now we could increase the scale a bit, turning to 4H chart. Now we see two potential patterns. First one is AB-CD with 9.7-9.8K target that agrees with major 5/8 Fib resistance level. This is our next objective point. Next one is potential H&S pattern, with the neckline right at this...
Morning folks, BTC dramatically has lost volatility and last week we were able to trade just minor AB-CD pattern target on 1H chart. In two words speaking, I'm not very fascinating with any buying here, as price action shows no bullish activity and no impulse that could suggest upside continuation. Thus, although we have potential pattern that theoretically...
Morning folks, Minor update is here. On 1H picture, you do not see some things that stand on daily chart and 4H chart. In two words speaking, things that I see absolutely do not inspire me to consider long entry on BTC. It seems that some hidden bearish pressure exists here. Currently I do not exclude scenario with downside breakout and retracement to major 8K...
Morning folks, Market moves very slowly these days, and barely make the single trade on intraday charts per week. As you can see our recent trading plan is done accurately. Now is the question what to do next. In two words speaking - currently I'm not fascinating about any long position as bearish tendency on 4H chart is still intact. I would consider long...
Morning guys, Finally our 1H target is hit. Now price stands at strong resistance area that includes 3/8 and 5/8 Fib levels from different reaction points (K-area by DiNapoli framework) and our AB=CD target brings Agreement there either. So, today is solid chances on pullback, at least for 300$. Then we will see what will happen. If BTC will be able to hold...
Morning everybody, Last week market was so lazy that it is nothing to discuss on higher time frames. Price played some tricks with our H&S pattern, grabbing the stops below initially formed right arm's bottom during NFP release. THus, market makers tricks start to appear on BTC market as well. Still, our bullish setup has not been erased as price holds above...
Morning everybody, Price action this week was so lazy that it was not needed to make any updates until today. But even today we have news only on intraday charts. If you remember from our last update we were considering upside AB-CD pattern to 9.4K area that is major 5/8 resistance. Although BTC was able to pass 2/3 of this distance but it was not able to...
Morning folks, Today, within few hours we expect minor retracement (that will be 222 Buy) to 9025 area and then extension to next resistance around 9400
Morning folks, Miracle has not happened and BTC barely has completed 1H reverse H&S target. Fast drop below the neckline, below the right arm suggests drop below the head as well. Additional bearish signs on daily chart makes us think that we could go to next extended 1.618 AB-CD target at 8145 area that agrees with strong daily 8.0K Fib support. BTC could...
Morning everybody, Markets are suspiciously quiet in recent few weeks and BTC is not an exception. In fact, we do not need higher time frames and could keep our journey with H&S pattern here. Just to remind you in two words our trading setup... We have downside AB-CD pattern and its major OP target is already has been hit. Potentially, market could turn up...
Morning folks, So, our former trading plan is done. Retracement was a bit smaller compares to "perfect" setup, but overall shape is the same. Now market shows few features that lets us think that right arm bottom stands in place. Thus, you have to make a choice for position taking. While our H&S is valid and price stands above 9100-9150, price keeps chances on...
Morning folks, Our 4H setup that we've traded last week is done. Low around 8.9K area is AB=CD target agreement with nearest daily 3/8 Fib support level. Currently market forms multiple trading setups, it is too much to write them here, so for details watch our video on FPA website. Here, I just briefly number them. We have bearish context. It means that bulls...
Morning guys, So, the 1st stage of our trading plan is competed - AB-CD retracement hits the target that agrees with major 5/8 resistance. It means two things. If BTC indeed is bearish - it has to turn down right from here. If it doesn't do it it means that it is not bearish. That's simple. Because Agreement resistance is sufficient argument to turn down any ...
Morning guys, We still follow our scenario with daily false upside breakout and suggest that BTC could show deeper retracement, somewhere to 8.8-8.9K area. We have two scenarios how this action could start and one of them is on the chart. Now price stands in upside AB-CD that agrees with major 5/8 Fib level around 9.9. This is the point where BTC could turn...
Greetings everybody, Well, guys, it is "big surprise" of BTC price action in headlines today, but, those who trade on classic markets could say only one thing "Welcome to exchange-traded markets". BTC, once exchanges added them in trading list, starts to show the same classic tricks of market makers that calls "Stop grabbing". In DiNapoli terms it calls "wash *&...
Morning guys, Although we correctly have estimated the direction but missed with the patterns a bit - neither 3-Drive nor reverse H&S have been formed and upside action started from simple butterfly "Buy" . But the probability has the tails... Anyway, this is tactical question, making no changes to the core - overall sentiment on the market stands bullish and...
Morning guys, just fast update on recent analysis. Today we get more clarity. Instead of 3-Drive, it seems that market could give us reverse H&S. It means that new entry area stands around 8.8-8.9 level - bottom of the right arm with initial stop below the head. This is the pattern that we're watching now.
Greeting everybody, Last time we've talked about the point where upside action potentially could start and I said - 8.5K due to some reasons that we've specified last time. Now I could confirm the same - another minor drop really could happen before reversal. As you can see on the chart, we have two side-by-side butterflies that together create perfect 3-Drive...