Currently how I interpret the chart. What you think?
- Another trade truce and we go up to tag the top of channel
- trade war escalation and we go down fast. tariff deadlines like land mines
Black lines are the channel
blue is support
red is resistance
Another touch on the bottom of the channel could form a sweet inverse head and shoulders pattern.
Looks like the beginning of a bull flag breakout on Eth/btc. If the pullback is limited at the 38.2 fib the upside is large. I see resistance at many levels, indicated with horizontal red lines, but the daily chart looks good.
What do you think?
This is a short term trade. Up to 3 days. Probably not longer for me.
-Hourly Trend is bullish
-Gap closed, followed by bullish engulfing candle
-We appear to have found support on the 786 fib retracement from the high set in September 2018. Why not go for all time high again?
-trend line drawn from major tops suggest we create another all time high before a...
After testing the bottom of the channel, BTC retraced to the 38.2 fib and was rejected. Watch out for a retest of support around 8,000 which should also be near the bottom of the channel again. After that, a strong move up is likely. However, it's possible we fall through the bottom of what I have displayed and test 6,000 again. This could take 3-5 weeks to play...
I'm considering buying two IBM call options with a strike price of $160 and expiration of 1/18/2019.
I think price will raise to my first and possibly second target. The plan is to sell one contract at T1 and then wait to see if T2 is realistic. If so I'll wait for T2 to sell.
What do you think? Will my targets be reached within the year?
I see a nice setup for btc to continue the down trend. I don't think price will rise above $12,500 before we dive under $10,000 for the final time.
First chart alert! Let me know what you think. Criticism is welcome. Bring it on!