Undeniably both fractals look similar. The November - December 2018 sequence with the November - December 2019 sequence. The first provided the bottom of the latest Bear Cycle. Can the current one provide the bottom of the June correction? This is what I will address on this study.
Let's start off with the similarities of the two sequences:
*It all starts with a...
Pattern: Parabolic rise on 1D.
Signal: Bearish as it is approaching a Symmetrical Resistance level (rejected the price 8 times since 2016) with the RSI on 3 year highs.
Target: 137.000 (Symmetrical Support).
*Such long term symmetries are useful and quite accurate. I have successfully implemented this approach on my last GBPJPY buy...
MATIC left a whole lot of people wondering why it was massively sold two days ago. Well the answer is simple, it was rejected on the 1W Resistance. It was a move perfectly calculated on the trade idea seen below:
The rise prior to the rejection was easily seen on an...
Pattern: Channel Up on 1D (blue channel).
Signal: Bullish as the price is rebounding on the Higher Low.
Target: 1485 (Lower High of 1W Channel Down).
* Observe the 1D RSI, if it breaks above its Channel Down we may have a bullish break out of the 1W Channel Down. Basically is the Green Triangle breaks, it justifies a push towards the Resistance Zone.
I have been into ETHUSD for a very long time and was always interested at the fundamental similarities with BTCUSD. I always thought that Ethereum was repeating Bitcoin's first Cycle and even published this study:
I am not going to go into much detail on this analysis....
Pattern: Descending Triangle on 1W.
Signal: Bullish as the current bullish leg is expected to price a new Lower High after a minor pull back.
Target: 0.89000 (Lower High) and 0.92000 (just below the 1W Resistance) if the Lower High trend line (red) breaks.
Yes the title may be catchy but as you'll see in this study, both features (LMACD and Triangles) draw a very accurate mid-term trading pattern for Bitcoin.
We have analyzed the LMACD indicator numerous times (see the charts at the bottom of this study) and has helped us identify buy and sell entries with great consistency within the Channel Down that...
Pattern: Channel Up on 1M.
Signal: Bullish as the price is on the Higher Low zone of the Channel Up, supported by the 1D MA200.
Target: 6.8500 (just below the 1W Resistance) and if the 1W R breaks 6.9300 (projected Higher High).
Well the title says pretty much everything so I will be quick on this one.
This week we see Bitcoin forming a Golden Cross pattern on the 1W chart with the MA50 crossing above the MA100. During the previous Bull Cycle this signaled the start of the 2nd Accumulation Phase (after a new top the price traded sideways for over 6 months). Phase 1 accumulation came with...
Pattern: 1D Channel Up.
Signal: Bullish as the price broke the 58.80 Symmetrical Resistance, which (excluding the Saudi attack on September 16th) has been holding since July.
Target: 61.00 (1st 1W Resistance) and if the Lower High trend line (red bold) of the Descending Triangle breaks, 63.50 (2nd 1W Resistance).
See how accurate the 1W Descending Triangle has...
Pattern: 1W Rising Wedge.
Signal: Bullish as the price made a Higher Low and bounced on the 1D MA50.
Target: 10.300 and 10.400 in extension (greater risk though as the 1D RSI is on a bearish divergence).