As multiple traders pointed out already. BTC is consolidating in a similar manner as it did back to early June. And consolidating in the higher timeframe.
I would expect a breakthrough to 8400-8500 region followed by the last noticeable pull-back to retest the Apex we have been consolidating the entire week. And, boom. ready for the bull run towards 10000.
Gold bounces strongly from 1460 and hit 1500+, I would say the dead cat bounce back is too quick and losing the stem. I would expect a minor retracement to 1480s region followed by corrective wave C.
Yea, 30min rsi bearish divergence shows a short term bearish signal.
After a major bull run gold experience a significant correction and it is approaching to the end.
Personally I see two possible set up at the time being.
We might see a inverse head and shoulder before a major bounce back to 1520+
Or else the correction continues and we gonna have a V-shape recover at around 1470.
In retrospect, one can easily notice that weekly 20MA act as a solid support in bull market and yield as the strongest resistance in bearish market.
It should be realised that this is our sixth time hitting the 20MA and the slope is still negative. Alongside with stochastic RSI reaches to a critical high level, a correction is on the way.
However, as the trading...
Ethereum has been the hot spot in the market, and the moves are rather anti-intuitive and hard to capture. But regardless what, here is my view on ETH.
A potential butterfly pattern is forming and we might see a fake out towards upside and target to 170-180 on Bitfinex, and a fall down afterwards. Time-wisely, I would...
Bears are losing steams
After all the sadness, despair, fud, capitulation whatever you want to call it. We essentially dropped more than 50% in the market-cap over the last month.
In spite of we hit new all time low a few days ago, but it is obvious that bears are losing their willingness and strength.
Alongside with Elliot wave count and the lower bound of...
Btc leading the whole crypto market crash as usual, so what do we expect this time ? to me the we will see a slight bounce when we hit the tempoary bottom while we hit the lows at Chinese government regulation and keep heads down to the high demand region at around 80 billions dollar total capital cap. which can be a...
We are getting into an apex area with clear support(3600-3630) and resistance level 3750.
I don't expect we can sustain this slope of growing in a bearish market like now, but we surely can find some support at 3600 level( the worst case I think 3550 will not breached) and continue up the rally.
An retracement of 0.618 -...
yesterday we breached the support level of 3750 completely, despite bulls try to defense the bottom line 3650 but less volume follows up. We might entered the final capitulation phase.
Take the neckline 3750 as a pivot, we have roughly 700 dollars movement upwards. simply playing the maths we would like to find some support...
Btc is going sideway here but mostly bearish. Bulls trying to defend 4150+ but no volume follows up, to me this is a potential gartley pattern.
If you attempt to short here you can target for 3850.
A breakout above 4300( the upper trendline resistance) with volume will invalid the analysis.
As expected, BTC went back down to sub 4000 level and we find some support here.
To me btc is going sideways and forms a potential bear flag.
4100-4150 would like to be a good entry point for shorters.
And we head to 3800-3900 as target
thanks me later
The news releases by fed has led to a pump in Dow jones future, and trapped many shorts, a potential short opportunity is approaching as I expect a correction to while the index hit 25500 level( on oanda), we can expect the gap to be filled (from 25500-24800) and more upside moves
It looks like bulls are not yet ready to give and forms a series of higher low out here. To me btc will keep going sideways and we may have another attempt to 4400+ level, however, it can be ultra risky to join the bulls right now.
But again, we would get another leg down to sub 4000 level soon or later as rsi and all the...
Hope you guys doing well
Looks like Btc has found some solid support around 3750- , personally I am looking for this potential bat pattern to be formed.
My primary target will be 4400-4500, and expect a major correction towards to 4050 region.
But for the moment, I would say anything below 4250 is a good buy, the momentum...
This is a savage sell-off, technical can't win against fundamental. But for every sell-off there's a turning point, 56-58 can be a potential longing entry point since it hits the support zone and reaches the lower bound of declining channel.
Stay patient and don't catch the falling knife. Any imprudent buying attempts...