LTCUSD IN A CLEAR BEARISH SETUP
PRICE HAS CROSSED BACK BELOW THE 200 PERIOD DAILY MOVING AVERAGE
CLEAR HEAD AND SHOULDERS PRICE ACTION. PRICE HAS CROSSED NECKLINE & FURTHER DOWNSIDE IS EXPECTED. THIS BEARISH MOMENTUM MAY ACCELERATE PRICE DOWNWARDS OR A NECKLINE RETEST MAY OCCUR
TREND LINE USED AS BOTH SUPPORT/RESISTANCE (& ALSO AS THE H&S NECKLINE),...
DOUBLE TOP FORMATION IN GOLD
EXPECTED MOVE TO THE DOWNSIDE
61.8 FIBONACCI RETRACEMENT
DOUBLE TOP TARGET (NECKLINE TO TOP MEASURED TO DOWNSIDE)
PLACE ORDER BELOW NECKLINE AND TAKE PROFIT AT REGION SHOWN IN CHART
Bitcoin has pierced through every single resistance level without considerable cool down and retracement.
The 0.618/($13,500) retracement level is the last level to be conquered.
If we break through this level then prices like 20,000, 25,000 or even higher are probably due to the fact that the market is in an extreme parabolic phase and does not care for any...
We successfully completed the 1-2-3-4-5 Impulse Elliott Wave meaning that next is the A-B-C Correction Wave.
The A wave will be a retracement to the nearest support, being the previous consolidation region, as well as the 0.382 fibonacci retracement.
The B wave will be a small bounce off this 0.382 retracement, or maybe sideways/ranging slow...
With the logarithmic function applied to the weekly chart, we see multiple tests of this concave trend line which will eventually level and stabilise. Price managed to reject this trend line with strength, as shown by the +20% week.
The 200 period simple moving average was also approaching this trend line within a few...