Something to look for if Bitcoin starts pulling back. I believe our options are limited here. Either it goes up only, no pullbacks only horizontal cooldowns. Or we do this and just pray that the next move will be bullish consolidation and not the opposite.
ETH has printed a decent descending triangle. You either take a short around here and put a stop for invalidation or trade the breakdown. Depends on your style. I've been talking about $700 since $1800. We will see.
I'm not a forex trader but I found this interesting. I think a top around ~120 is interesting because it's the 2001 top. The chart says everything else.
I'm not bullish about the market right now. And I'm not gonna take a serious position because of this but i just thought it's interesting to watch. This is a ~19 days of accumulation right now. It's not much but still looks interesting. This is just something I wanna watch and possibly learn something.
Time to talk about accumulation again. Exciting times indeed. I believe we're about to deny the possibility of accumulation. And that's gonna be nasty. BUT we need a little more data atm. Everything else on the chart.
I want to follow ETH on this frame. So I wanted to create an idea. I see multiple huge structures targeting $700 on ETH. I'm not sure if I would buy or long ETH around there but I'll stop shorting at least. I would probably choose BTC over ETH to trade with a bullish bias.
New frame I wanna follow Bitcoin on. Redistribution-like outlook. I've been talking about such correction since the last impulse down. There is a good chance that the correction is done. What I couldn't foresee was this mini altcoin rally. And such change of sentiment. Invalidating rising wedge is relatively easy but making a new high above 18.400 is unlikely.
This is just something interesting that I realized lately while searching for an answer for the question on the title. I think it's worth saving. I explained everything on the chart. Just look at the chart and read my comments respectively (1-2-3-4-5). I'm definitely in the "This time is different." team. I'm not sure about if this is a good thing or bad thing...
Now let's forget how great or bad Binance is and have a look at BNB chart. Basically it has a chance for an accumulation range here. It has to hold the neckline. Overall I am neutral about this chart right now.
I like this low timeframe TA on ETH. A test of 0.5 is highly probable but consolidation may be already done. If it breaks the channel and consolidate above it, I'd consider the short-term trend is up. Otherwise ETH is bearish on this timeframe and bigger timeframes as well imo.
I think this is a funny explanation of what's happening :D This is funny but also a very strong pattern. Basic human psychology. NFA :D
I recently shared a similar idea about BTC and now I wanted share some Fibonacci magic on ETH too. 3 months ago I've shared the first version of this Adam&Eve idea about ETH when ETH was around 1800. In the first version target was $650 then I improved it and I thought it was safe to say my target was $700. And a week ago I've shared this idea with $700...
Now that my last short position on BTC has failed this is the levels I'm looking for new short positions. Bitcoin is macro bearish. No bulls allowed below 19k. #BTCSUB10K :D
First of all, I hope it's not. But I wanted to save this perspective as an idea. There are similarities and interesting "coincidences". I think the chart explains it all. There is one difference between these two orange circles though. We had a lower low after the first low. Let's just hope this is not the case. But I will personally take this serious until...
Red line is a good support but we know that descending triangles are bearish. Often ends with a crash but also marks an important bottom. So I don't know what would trigger it but a crash below the god line can mark the bottom. God line would probably be the resistance line in the next bull run. Or maybe they will just buy the support and start the bull run. Who knows?
This is an improved version of my last idea about ETH. This time it's on the weekly line chart to reduce noise. The target is a bit higher this time ($700-$750). But you should consider that this pattern contains a lot of noise even with this improved version. Multiple weekly close above $1900 would invalidate this. Personally, even one weekly close above it...
I am bearish for now but this is a very likely bounce. A lot of long-term scenarios in case of a bounce. Make a higher high and next leg down. Make a lower low and continuation. Get rejected from the range high come back for a swing failure etc. We have to wait to see. But this bounce is tradable imo.
If you think "Nah, it'd be an easy buy for retail." You are wrong. A long and painful accumulation does shake out retail every time. People will call 10k-9k-6k-3k so on and so on. And maybe some of these targets will be hit too. The point is we don't have a good accumulation pattern yet. You can't say this is the bottom until you see that long and painful trade range.