CELO is having an impulsive run against the BTC grain. Price seems to be consolidating in this area to form a flat wave 4 which would suggest another wave up will ensue to $6.7 fib 2.618 which also finds a strong point of prior resistance. This can be a home run short if price reaches target. There may be temporary overshoot. NOT ADVICE Thanks to zbooyo for the...
DXY looks to be forming a continuation pattern here which would signal the start of the bull market. The very fast impulse was the warning and now good chance this will be moving soon enough. W RSI and MACD pointing to upper territories. This may have a negative impact on "safe haven assets" such as cryptocurrency GOLD and possibly Silver.
Looking to ETH price is often a way to see into what Bitcoin is about to do, and ETH is looking impulsive here. A 1:1 ABC could be on, and if it is likely it will be the same for BTC. It could still be a retracement but with the recent impulse it looks like it wants to have a little journey. I don't trade regressive (upward) waves. Not advice.
THETA is showing significant signs of weakness now. It may perhaps be in an ABC 1:1 which would take price to around the 0.786 of this drop at $9.3. Will it get there? - I really don't know, this is a corrective mess, but it could be a good entry if it did. Long term I think THETA will go sub $1 just as I said when price was up at $12 and got quite a heckling...
As shown on the chart COIN tracks Bitcoin very well, but with one key difference - it is listed on the stock exchange. Bitcoin is looking very weak and I'm already staggering in to short COIN through 2.618 fib time area see my other Bitcoin threads for details. Not advice.
Fiber is starting to look very toppy. The first sell off of the year was significant and this recent sell off looks to be a capitulating structure with the top falling shy of a HH and the fall collapsing with pace. As Neowave states - "the fastest move dictates the dominant trend," and here we seem to be setting up for a long term downtrend. Significant bearish...
Few of you requesting, so I'll try to keep some updates coming for these wilder coins. MATIC has a very large corrective territory and its quite a mess, not a great area for trading. The good short was up at 0.886 of the previous peak that I made a thread on a while back. The bounce looks to be in here. I don't trade regressive waves unless on capitulation...
ETH following a similar path to Bitcoin except with more bearish slant. Same possibilities see my Bitcoin thread for more details. Bounce targets on chart. Not advice.
Recent short sharp upthrust appears to be a B wave. From there price quickening would appear to be a C wave which with a 1:1 A:C ratio would take price down to 29K area. This would pass the crash bottom and provide an opportunity for a bounce fake-out. If price did bounce in this area then we may see Bitcoin climb to its most common retracement 0.786 which here...
Ethereum pointing down into the abyss and it will be all too easy for those that are short. I'll steer away from EW in favour of the simpler and perhaps truer 4hr RSI. ETH could very well capitulate right here, but 4 hr RSI is showing some bullish divergence as in the crash. I would expect maybe a little more downside before a bounce. And any bounce to 0.618 -...
I had a bit of a break from crypto and charts generally. I've been spending a lot of time in the charts this year. My thesis for shorting crypto was partly centred around regression and I think this bear market is the first where regression has been broken. If you are a very skilled technician I'm sure you can find a way to show how regression has not been broken...
GOLD has hit 0.618 retracement from March low to previous high, and ABC 1:1 fib confluence. 4hr RSI very low reading, even lower that March 20 low. I'm bearish mid term on gold, but this long seems good with care. Not advice.
DXY impulse impacted many charts, quite a few tagging 0.618 retracement just like GBPUSD here. With 4hr RSI the lowest its been this year, this should be a simple scalp back to 0.382 resistance.
GOLD is capitulating and a Primary wave C is probably underway down to $1500 area. The recent sell of has been fast and a bounce will probably come soon enough. I'm swing closing some of my position and if price gets back up to long term support turned resistance then I will re-enter a swing between 0.5 and 0.618 fibs. If not I dont mind at all taking profit, I...
I don't know what this is and I don't think it really matters The Graph - ok. This is a very weak chart, similar to ETH but much worse. Price is hovering under 1hr 50ma which in a downtrend it probably won't cross, and almost all support has passed and is now resistance. VPVR shows there is very little support, so this could walk straight of a cliff shortly and ...
This is why the market is cruel to average Joe who is worried about how to keep his hard-earned work safe. But you have to understand market dynamics and regardless on severe inflation of currencies, GOLD looks like it is topping out here and falling into a bear market. I've been short since 1900. Will add on bounces to the upper median line or to 0.618...
Bit early to say this is a top right here but all the signs are there. Yet another 0.786 tag and guessing this will be it right here.
ETH having has now completed the bounce and exited the top which was a B wave retracement. Now into C wave down to 0.055. See you there.