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Correction in progress
The chart shows triple bearish divergence on RSI, this is a strong signal for sellers.
The price might go to lower levels to hit RSI support at value 50. After that, if nothing special happen, LTCUSD might create new all time high.
Personally I've closed LTCUSD long trade, however if my assumptions are wrong, I'm ready to get into next leg-up.
Moreover on the ...
The Polish zloty is pushing again to the support level at 3,70.
If this level get broken, next support level is at 3,52. The best entry for this move, will be when price return to the new resistance level.
However if bulls push price back, there is a sharp downtrend channel, so there is high probability of third try to break 3,70.
The price created Bearish engulfing pattern on the chart. This is reversal signal of the uptrend move.
Taking into account situation on lower timeframes, where the bulls are taking action, I'm expecting the ETHXBT to return above level 23,6% of drawn fibonnacci retracement. When this occurs, it will be the best moment to open short position.
Moreover there is ...
As you can see on the chart, the bulls have pushed price above EMA 50 line. The volume on those two candles is very high, which is good indicator of coming correction of this downward move.
I'm expecting this correction to hit fibonacci retracement level between 76,4% and 85,4%, than the further downward move with new lows.
Very often the downward move on cryptocurrencies is very steep. To catch a moment of reversal I'm using fibonacci retracementool. In moves like this I'm looking for a range between 76,4% and 85,4%.
This time the price hit 85,4% and the 4h candle closed above 76,4%.
Moreover let's look at Volume of this candle, it's a lot above avereage. This is a good signal ...
The price have hit today resistance of the uptrend channel.
In my opinion, there won't be enough bulls to break 19,5 EUR.
I expect the correction of this rise, which will probably end at 14,60 EUR (38,2% fibo level)and if BTC price fall down, than the 11,5 - 12,2 EUR level is expected (61,8%).
The RSI level is record high (overbought). Looking back we can see ...
Bulls and bears have created the doji candle on the monthly chart.
The doji candle after long uptrend might foreshadow trend reversal.
Moreover this doji candle is after a long white candle. This means there is imbalance on the market. The market is "tired".
The bulls might not have enough strenght to keep uptrend.
The maximum of the upper shadow is the ...
It seems that the price hit the optimal level to begin sell off.
The buying back phase will start at 460 level, to form accumulation range between 480 and 510.
In my opinion we will have lot of selling just before BTC halving and than, after it the price will bounce to the 680 area again.
As usually, we will see the triangle forming. However I don't think that we ...
Today I've checked traders dashboard for my broker. 95% users are in the short position already. They will be probably slaughtered by further up-move. That's why it's good to use that.
I'll try to short this, when the price hit 18700 area.
On the 4h chart of AUDUSD you can see good short opportunity. The Shooting Star is the Price Action signal for short trade.
The target is 0.77000.
The price has return to the new support line I drew, crossing triangle resistance line (blue). I was hoping that this line will stand, but it hasn't.
So the main point of this chart for me is this big white bullish candle. It has long lower shadow. What caused it?
The RBA interest rate decision to stay at the same level as earlier (2%). Before announcing this, ...
Since correction reached my target, I was looking for a place to enter a long position on USD/PLN.
On the chart the price rejected support and formed bullish signal candle.
My target for the long position is 3,99
However today we have macroeconomic data for Poland, the CPI (Consumer Price Index) and I'll try to adjust analyse after it.
The price hit 1137. It's 61,80% fibonacci retracement level. In theory that should point out to the end of correction.
Moreover there is Price Action formation called, Bullish Piercing. It's a trend reversal signal.
On the 1h chart, there is RSI bullish divergence.
My main TP ...
The bears took initiative on the white candle on the chart with large volume. There wasn't follow up by bulls after it, so there was much more selling.
The buyers try to fight today, but they lost (with the help of macroeconomic data).
Target of this short is 3.85
I don't think it will go lower, because of new government politics, because of that this ...
Discounting of elections began 10 days before them. On the chart we can see, that Polish currency start to quickly depreciate against Dollar. Pretty much everyone knew the main opposition of Civic Platform (PO), the Law and Justice (PiS) will win. The one of the major unknows was, whether they will have majority of parliament seats to rule alone. After the ...
It seems that it's the end of bullish correction and continuation of bearish long-term trend. However, there are some main support point.
The first one is around 0.71500 - 0.71750. This works as the base of the triangle. If price cross this line, this would be a good point to open short positions after it becomes resistance line.
The next one is at 0.70000 and ...
After two successful defences the gold will break the trend line and will do correction.