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Roller coaster is about depart!
These stops were engineered a few weeks back now and I expected them to get tested at some point. Seems too blatant for them not to be taken advantage of, you can see them on all BTC exchanges
So I want to be completely unbiased on this assessment. I'm still bearish, but have taken into account a couple of paths that are possible.
There was a crystal clear 'double bottom', engineered at 17800 which was raided for stops. This is the only reason i expect support at the raided low of 16900. However, there are stops resting above at 19750 ish which happen ...
May have been a tiny bit early on my last call, but the message remains the same, 20k yuan is a sell. Just saying!
I know, "IT'S NOT THE TOP YOU IDIOT!", but here I go anyway lol. Easy for me to say that this is a top, being that i'm not invested either way but IMO I do have a unclouded and unbiased judgement
So I'm looking at the 15500 level as a level where shorters shorted - that level is weak and needs to be run. 16200 level looks like a good level to reduce your longs ...
Final Leg up should happen soon - fomo style. Looking for this to be the last leg in this cycle and am expecting a large pullback followed by a large consolidation before we move up again
Lets see where support comes from but those lows are vulnerable IMO. There are a bunch of uncleared stops below all the way down to 2300's. I'm guessing that that will be the first port of call before any convincing bounce comes about (which could be a very nice short. If I was still in coin, I would be playing the bounces both ways in case further momentum either ...
We're in a very strong resistance area ATM and we've not been able to break above 50% of the previous consolidation. If OKCOIN can break above 4220 then it's game on. Could see a retrace around there but it should be a buy. If we can't break 3500 with conviction then I assume that the untested stops below need to be shaken out before it launches for real
Nice rounded bottom on the monthly. Weekly is showing support at 50% of the monthly candle body. There are some nice stops ripe for the picking above. No idea if she will sell off if we make it to the target zones but it should provide strong resistance
Gonna buy the breaker pullback if it makes the move above it first
A break above 1.3034 would be a buy on pullback into the yellow box with a target of of 1.3800 if the trendline is broken
Think the top is in for now. Unsure if it will go for new lows, based on lack of data, but I would suggest that the bearish cycles in Gold have very likely ended and so most other 'commodity' based instruments should also find support and aim for more highs in the medium term
Well, here we go. This could be the first retracement for the bears to pile in on or could be the break that the bulls have been pushing for. Either way a break of recent low or high will confirm the forthcoming trend
A couple of ideas for fibre over the next couple of months. Considering the depth of this correction, I'm prefering the triangle option right now. But either way I am expecting a bounce in at least three waves from the lows - when they are in. We could be putting in a bottom here but I'm expecting dollar strength still so looking for one more push down to sub 1.0600
Unclear if the low is in still, this could just be doing a double correction. Next areas of interest highlighted but as we're sat at the 0.764 fib extn my guess is that we first pullback
Stop hunt at the 1.1 level remains the target IMO. Should have one more leg to the upside left. Will be shorting 1.1550's
Buy the dip. Looking at minimum 350 in the short term. Could be bottom
Also forgot that okcoin spot trendline on daily has broken out. Waiting on BFX and Stamp but China on it's way now