I keep this chart simple.
We can see that the downtrend line(s, depending if you favour closing prices or not) that have been acting as resistance ever since the all time high are starting to be incrementally respected as support.
From the initial fake out that sent the market to the recent decline towards the 9200ish area, we're now seeing the...
Good morning traders,
we're in the process of forming a potential Doji on the 4H timeframe with about 25 minutes left to go towards the next candle. A doji pattern, once established, would serve as a strong reversal sign and open the door for taking a short position.
Going short here with a tight stop loss.
Bitcoin appears to be breaking its recent push resistance now, so this is where I see it going in the short term.
I can see here that Bitcoin is performing a perfect Gann Fan compliance, i.e. to the last resistance level at 8/1 as drawn from the last sell wave.
RSI is by far not oversold in this timeframe, and there is room to correct once more.
I rarely trade AUDNZD. Looking at the 4H AUDNZD, I'm watching the pot development of a bearish Gartley, though.
This is not a trading recommendation, but is meant for personal practice and posterity. Please ensure your own due diligence.
I intend to watch for D Leg completion to enter a short position with profit targets on fib levels.
I know RSI is overbought on multiple timeframes, but as you can see from the past that doesn't mean it's the mother of all tops! FUD is ripe these days, and the perma-bears promise doom and gloom. That's fair enough, but I say Bitcoin arise! I'm pondering on a bull flag in formation with price to advance to 6500, short lived resistance and then to 10k....
Technically, I see a developing head and shoulders pattern which could potentially break the neckline soon, a scenario which I'm looking out for as confirmation to add to my short position.
Although I try to largely avoid fundamentals, I consider the fundamental criteria to be largely supportive for the potential for a generous bearish correction in this pair,...
EURUSD could run into problems at market open to sustain this vicious post-Draghi/Yellen momentum. I suspect that the bulls might be exhausted and give in to a confluence of selling pressure based on short term trend lines. Both daily and 6H RSI suggest a bearish divergence. The initial euphoria about Draghi's moderately hawkish comments about global economic...
I find it rather difficult to determine what's likely going to happen here, so many variables, fundamental and technical.
However, there might be two key scenarios on the cards here.
a) We could be in the process to develop a (harmonic!) double Head and Shoulders pattern if we find support as indicated, which would suggest a substantial rally to the next main...
I anticipate this to play out.
now that we punched trough the 61.8 pullback at B, we are likely to retrace to C, followed by a sustained pullback to D leg completion, short to Target 1, tight stop loss above Target 1, hunting Target 2, long on failure.
No trade advice, ensure your own due diligence.
Potential Bearish Gartley for intraday short opportunity.
Expecting a retrace after completion of D leg, targeting 38.2 and 61.8 fib levels.
This is merely for the personal record and learning purposes and no trade advice.
I just wanna see if this pans out or not.
Ensure your own due diligence.
I have a hunch here that BTS might see some further losses while struggeling with multiple and compounding Gann resistances in the short term. I anticipate further correction to form a fat double bottom at the 38.2% fib level (around 8000-8004) drawn from its major pump, thus I still tend to favour the short side atm.
However, from this second go at the 38.2%...
Hi fellows, today I'm looking at BTSBTC, which seem to struggle hard and repeatedly to maintain momentum to break up beyond a crucial 50% fib level.
The ascending triangle cautions to watch for supporting trendline to break for a retrace to the 38.2% fib level.
Additionally, there is an important resistance level to consider just beyond this 50 % fib level,...
I spotted an interesting fractal pattern that seems to be playing out right now, with a big move up ahead. This pattern suggests ETH could be going to the moon before the end of July.
Given that BTC seems to be starting it's third drive as well, this doesn't seemt impossible to me anymore.
I anticipate we'll break the 290 resistence after some tickling, and...