EURUSD primary downtrend since 2008.
Zone around 1.128 is POC for period since October 2014 - in order to reverse downtrend EURUSD has to find acceptance above that level. Even an attempt to do that will take a year at least on that timeframe.
Week timeframe for close look
Market trick me a lot lately. Didn't expect #Ethereum to bounce, but it did. Month 20SMA tested and good chances to see #ETH there once again.
Level at 1855 seems to be ok for long entries. Lots of liquidity above 1887, so its a tasty zone where whales will push CRYPTOCAP:ETH price in any case, sooner or later.
EUR against GBP. I think that taking long entry at bullish breaker around 0.8618 can play out. The only concern is that price already was there after breakout. So same as with others setting alarm for that level to see how it evolves in action.
Potential targets for bullish bounce 0.866 / 0.868 .... the rest for breakout above 0.87 which will take price to...
BTC dominance seem to be reversing back down from 2019 low 👀
Doesn't mean it won't grow higher next month, but for this weekend it can be an ultra bullish signal for shitcoins, that often follow old coins.
Each two years in December BTC starts a new cycle. If everything go with the same plan, now we are at the beginning of growing cycle.
P.S. Hidden it from the chart, but for your information 21 EMA is at ~7100 - important value.
Strong impulse took SPX to 4035 SR and rejected from there back below August close. If index won't find acceptance back above it, it will drop back to October close ~3875 and possibly lower to ~3811. Cross roads situation. On week there is still potential to grow to ~4100, so all depends on how this week close.
SPX bounced from March'21 open (3812) which act as strong SR zone. Next is 2021 Year open at ~3764 (even stronger SR).
These two levels make this area very good one for consolidation and relief bounce. Another factor - chart completed 3-4 impulse waves which usually is enough for either consolidation of correction.
But this is all in theory. At that moment I...
My previous high timeframe review explaining Bullish OB situation below.
Last week closed below bullish OB 31780-34260 zone which means that we should expect BTC to drop lower 24 / 20 / 14k.
Before that final collapse happen we may expect (or hope) for re-test of newly formed bearish OB at 29300-35400 range. As you can see its a pretty wide range and BTC...
Bitcoin touched Week bullish Order Block zone at 31780-34260. As I wrote before current dump can potentially take it down to 28k. Critical level - week close above 31.8k - and that is not only for this week but all the following weeks until the bounce happens (if it ever will happen above that level). If any week candle close below - next will be 17-20k.
Monday range 38052-39167. Almost 3%. None of yesterday's review scenarios triggered and therefore they stay valid for upcoming days.
If BTC breakout we should witness bullish impulse targeting liquidation of stops above last swing high at ~40377 - therefore it can pump up to 40600-40800 zone with extreme bullish wicks to 41300. On the other hand if impulse get...
Bitcoin chart structure still produce LH and LL on each swing which indicates the downtrend is still valid. New lower high is at 49500 - until BTC grow above it there is no reversal confirmation. In addition we want next swing Low to bounce above 45673 to keep chances for sooner reversal.
Told you - when people far from trading start to share news about Bitcoin its a 100% signal it will go down 😂 Because rule #1 is SELL the NEWS.
Now BTC is under 48k resistance and near lower trendline and we all know that trendlines are not SR. Never rely on trendlines as support/resistance even though they often pretend to be it. They are trendlines. And...
What a volatile day it was yesterday 🔥 Once again I'm glad to repeat that this move confirmed the reversal from correction. It doesn't yet mean that BTC will fly to 100k straight away (nothing grows without corrections), but that certainly means that we may expect to see that "dead cat bounce" to 47-50k we've been waiting for several months.
Before that BTC can...
Grayscale have added ADA to its portfolio. Will be adding to mine on pullback as well.
Will be accumulating ADA at 1.3-1.33$ / 3950-3850. At spot it has inverted head and shoulders pattern which is very bullish. Target 1.5-1.55 / 4400-4500.
Note inverted head and shoulders at spot chart. Very promising.
XRP daily got a beautiful upper trendline with 4 touches - pretty serious and make it same good as horizontal zones. In case of breakout it will cause a strong bullish impulse.
Support at 5400-5700 also very strong - moderate chances for bounce since it will be only second test and guaranteed strong bearish impulse in case of break down that should take price...