Btc has broken below support that has been keeping ti above 30k
We could see a correctional pattern forming here as the market plays between 25k and 20k for a possible drop to 18k
We can we a wave pattern in the bearish direction
Just like on the daily when the bearish wave did not complete but still market had heavy drop.
So on the weekly
The drop from the...
Look at wave pattern
It was a simple correction leading to a break out.
If we see this a turn on the weekly could we see a drop down to 3K.
Don't know but if the weekly support is important than 3K is the next target in my mind.
Looking at the double top on the weekly time frame seems like a strong possibity that a drop could happen
With I this year still
We seeing a slight up movement followed a range indicating that we are looking at a possible bearish flag 8n the making.
These kind of patterns on btc has worked and also proven useless.
As with previous pattern at support we could see...
Well we are doing a case study for a buy or sell in btcusd
We will be looking at the raw data and see if there is any candle stick patterns and trend line indications of market movement
Before we go into indicators
So right now we know btc has not kept it break it has pulled back below 50k
Has been steady bouncing along a trend line
Creating what seems like a...
The following indicators and TA conditions looks as if we could see a drop in usdjpy
The move down could just be a relief for the overbought conditions indicted by the Rsi and the Bollinger bands on the Daily time frame.
We also see a weekly level being tested as confirmation for a pullback but the market is currently above indicating a possible...
So let's look at eurgbp and see what is possible from this current level.
Based on basic rules of support and resistance we are looking at the previous buy zone and currently seeing a possible buy entry slowly appearing
We see that for this week the market has been holding it steady at this level
We also see the Rsi is almost oversold
We also see the Bollinger...
We will be doing a case study on gold to see what the next possible moves will be
Currently we are seeing the following
Elloit wave count completed
Decending wedge pattern
Clear support area
Looking at the conditions of the market
The completetion of the wave pattern and corrective pattern coming into play
We could see more...
So we are back at a critical juncture in btcusd
Will be go above the 64 000 Level or will we see another massive pullback or a semi one.
The RSI is 70 on the daily possible drop sign
The candle patterns also shows possible drop signs
But with btc you could get a surprise spike before drop
Right now it looks more like we going to see a drop.
The setup looks good from a technical perspective but position and the rsi shows we are 8n the middle of a up or low position
I would say look for a rsi above 70 or below 30 for a entry zone in btc.
Right now if you do enter its either on extremely well thought out plan or just plain gambling
BUT MY GUT IS SAYING LONG