Not long ago, we were facing a similar structure on Bitcoin. The right 1H chart, mid-May 2017. We had a triangle structure formed after a bullish trend. The left 1H chart, NOW. We have a triangle structure formed after a bearish trend. Some said money flow into Bitcoin affects all technical analysis. I will say each candlestick has its own story in terms of...
Hi traders The purple ascending triangle was superseded by the green ascending triangle in 1H chart. But the resistance level is still the same at 11500. In 4H chart, it seems like BTC has no space to move further. Bulls have to work harder and together in order to break that resistance level. (Please also note that BTC may possibly be rejected from the...
The new resistance 11500 was formed last night, but the bulls won a few battles, an ascending triangle pattern !!! In the 4H chart, a bigger picture shows that BTC has an DEAD END ! NOWHERE to go ! I mean NOW HERE to go when the triangle breakout occurred. Therefore sit tight, day traders! You may hope it climb to the roof (19000) again, but it is too difficult...
Ceiling reached: Evidences: Resistance Trend line , Fib Ch 100%, 2015.12.30 High, Flag pattern target projection RSI overbought
Comparing Bitcoin with 1H & 4H charts side by side. From the 1H chart, 11400 was NOT a strong resistance level. But this price was telling us that we should also consider the downward movement. We have another Lower High two hours ago, the candlestick (shooting star) was obviously rejected by the orange resistance zone. Again, it told the bulls that don't...
Hello penny stocks followers, I am sorry about that I might a bit side-tracked to the cryptocurrencies trading recently. Here are two penny stocks to buy & hold for longer term. Do you know both SM1 & A2M was struggling in last 84 days? A2M just slightly continues to soar after the resistance zone breakout. In the other hand, SM1 is struggling at the descending...
The current candle break out the strong resistant in 1H chart. Target may hit the top of previous H&S pattern
You may need to zoom out to see the red resistance upward trendline, and green support upward trendline. These two parallel trend lines show you the big picture.
Nothing to say more, simple as it is.
VEN/BTC has gained nearly 74% from the triangle breakout on 6H graph on the left. We have two candlesticks that cannot break the Fib Ext 127.2% (0.00082018), therefore VEN may face a possible correction. When we watch carefully that these candlesticks also shown a support at Fib Ext 100% (0.00072183) With the help of ADX indicator: ADX line is still running...
The relationship between these two EMA ( 8 EMA is below 20 EMA) tells us that it is not the right moment to go long, although most indicators are in oversold areas. We can't say structure B will go similarly like structure A, but the blue star will be the critical price for us to confirm there is an EMA crossover, or price retesting base of the channel, or...
as markups... target to Fib Ret 78.6% & support trend line
Traders for LONG: We need to wait the close price of the current bar. If it is higher than the nose of the bullish pin bar, then the bullish reversal is possibly valid, or say it may go to pullback to the green support trend line. Please prepare your risk management because the D chart looks like a falling market. Traders for SHORT: In the daily chart on the...
The bullish pin bar has not yet confirmed a bullish reversal in the 4H chart on the left, we need one to two more bar to confirm if HH is valid. 4 hours later (I will be offline), if you find another similar pin bar with the lowest price around 11193 (maybe lower), then it is called a double pin bars for bullish reversal. Otherwise, we follow what we see in the...
Fib Ret found somes support levels at 50% (0.0001145) and 61.8% (0.0008739) in weekly chart on the right. Ichimoku Cloud support at 0.0001148, which is slightly below the demand zone. As the projected cloud is green and climbing upward, we expect the current price goes dip into demand zone and then rebounce. Therefore, all we need is patient... By the weekly...
$1220 is a strong support level in this 4H chart. With the help of OBV indicator, we see the current price direction is likely to continue downwards just after bearish divergence on MACD started from 14-Jan.
We will short BTC/USD if it breaks under the support level.