This idea is a very vague scenario where I think Bitcoin might be rejected hard.
Maybe a decent area for those traders seeking for a lifetime big-short entry spot.
This technical insight has been deducted using log scaled chart.
To be honest, I personally think it's a very risky idea to search for a prominent short entry.
It's beyond human's capability to...
#Bitcoin #XBTUSD #Daily #Tommy
- Here is XBT daily chart. After a massive bullrun up until 42k, Bitcoin has broken the blue upward trendline below and has been on its correction phase.
- Making lower highs and lows, it is currently forming a falling wedge. Moreover, it’s testing the support of the inner upward trendline which I have marked it with yellow dotted...
#EURUSD #Weekly #Tommy
- Here is EURUSD weekly chart. Assuming that the impulsive uptrend wave cycle has started from the low at 0.82311 that was formed around 2001, here is my Elliott wave counts.
- I interpreted the corrective phase as WXY structure where wave X has tried to make a swing high, but has failed and thus the correction cycle is considered as...
#DXY #DollarIndex #1hr #Tommy
- DXY is the one of the indexes that many investors and traders are referring to since it affects numerous products such as Bitcoin and Forex, etc.
- Since July, DXY has consistently been pretty bearish lowering highs and lows. However, at this very moment, I personally believe that it is currently at inflection point and thus have...
#BTCUSD #1hr #Bybit #Tommy
- Here is BTCUSD 1hr chart. It failed to break the 11900 resistance and is going through some correction.
- I am currently considering 11810 as a short-term resistance.
- For pattern perspective, we could say that it just broke the rising wedge and then had a retest.
- Please pay attention to the blue long-term trendline that is...
#BTCUSD #1hr #Bybit #Tommy
- Here is BTCUSD 1hr chart. BTC has broken above the major price lines and resistances yesterday, and then broke all of those down again. What a surprise.
- Pay attention to the red box I have drawn on the chart. It retested on this box which I have been considering as a significant price area where price gets resisted when it’s under...
#XBTUSD #Bitmex #Daily #Tommy
- It’s been a quite while since I have TA’d XBT. Here is XBTUSED daily candle.
- After successfully breaking above the red box around 10600, XBT has been making higher highs and lows.
- Finally, it broke the 12163 and 12340 above, which were the recent previous highs that are considered to be a very significant area by many traders....
#GBPUSD #Forex #FXCM #Daily #Tommy
- Here is GBP/USD daily chart. Currently it has consistently tried to break the massive resistance area which I have drawn it with the red box (Around 1.3200).
_ Furthermore, it is also being resisted by the downward mid-term trendlines(red and blue). With the deathcross shown on the MACD and that the RSI has just escaped the...
#AMAZON #Nasdaq #Daily #Tommy
- Here is AMZN Daily linear chart. Currently recommending daily traders to keep an eye on the blue long-term upward trendline.
- I have marked it with the red box. Obviously if this area gets broken below, on the other word, if daily candle closes below this very trendline, correction phase can be expected.
- In a shorter term,...
#Forex #AUDUSD #FXCM #DailyCandle
- Here is AUD/USD daily chart. It recently broke above the major resistance area around 0.70320~0.70770 and some bullish wave structure have been constructed after.
- Seems like it already retested this area more than twice after breaking this above.
- As can be observed in the daily indicators, the RSI is consistently...
#XBTUSD #Bitmex #1hr
- BTC recently broke the recent high and made a higher high.
- Now the previous high might be considered as a major support.
- The trading setup below is worth taking a risk for a mediocre risk-reward ratio.
- Note that the 1hr RSI has shown pretty decent bearish divergence signal.
Short-term Long Trading Setup
#TESLA #NASDAQ #4HR
- Here is Tesla 4hr log chart. During the recent few days, Tesla has shown some powerful bullish momentum.
- Yesterday it mad a new high at 1792 and has been resisted by the top of the red channel.
- According to my wave counting, I believe all of the impulsive waves have appeared and correction phases are about to emerge.
- The resistance...
#BTCUSD #Bitcoin #Bybit #Tommy #1hr
- Here is BTCUSD Bybit 1hr. It just broke the red upward trendline and is making a long tail. Not a surprise.
- A support area has been confirmed at 0.618~0.705 retracement of the previous impulsive wave. It’s also around the bottom of the black channel.
- If Bitcoin shows more bounce movement, we can expect some resistance...
#BTCUSD #1hr #Bybit
- Here is BTCUSD Bybit 1hr chart. Right before and after the weekly candle has been closed, it showed the scam move as always. Pretty sure a lot of retail traders had suffered because of this move.
- For right now Bitcoin has been resisted by the orange trendline above and is going through some correction phase. For smaller time frame, we...
- Here is XBT 1hr. Currently it is showing the sideway moves with long candle tails both up and down. Perfect place for retail traders to get wacked.
- For now, pay attention if we can break the top of the black channel above. It has been resisted by the top of the channel for a while and thus we might expect a high bullish movement once the top gets...
#Bitcoin #XBTUSD #1hr
- Here is XBT 1hr. Right now we have to pay attention to whether we will break the orange up trendline above or break the black channel below.
- XBT is being resisted by the orange trendline and at the same time, it is being supported by the bottom of the black channel.
- I think a big movement is going to emerge soon so we need to monitor...
#CrudeOil #CLN2020 #4hr #Midterm
- Here is Crude oil 4hr. Today I will analyze in a bigger frame and let you guys know where we are.
- After making a new high at 38.18, it is right now being corrected. In a shorter frame, it is currently in a symmetrical triangle and we must moniter when iit gets broken.
- Also we must pay attention to the orange parallel...