Looking at the monthly chart for SPX, S&P500 is now about 6% below its all-time high. Investors are now very nervous about the US trade war with China. If Trump follow through with high threat to impose more tariffs on Chinese made consumer goods on September 1st, that could wipe out corporate profits from earlier in the third quarter and hurt...
Looking at the weekly chart for AUD/JPY, it is currently testing neckline of month long head and shoulders pattern. Breaking this neckline with convincing high volume in weekly chart indicate further drop, and targets are listed in the chart.
Target 1: 62
Target 2: 56
In shorter time frame, bulls are trying to hold on this important support...
Since Bitcoin has been trading in a narrow range and it seems like bots are starting to gain control, perhaps it is a good time to predict bitcoin price action in longer time frame.
First off, I want to review what happened in early 2018.
1) All time high -> 2) 50% drop -> 3) Retest 20K (failed) -> 4) Another 60% drop -> 5) Testing 10K level...
Looking at the 4 hour chart for FETBTC pair, we see a strong green candle with extremely high volume. We saw high volume on July 13th, but bulls could not sustain the bullish momentum. This time, we saw even higher volume compared to July 13th, which is a good indication that bears are losing their selling pressure.
My target is indicated in...
Looking at the 4 hour chart, we see that Bitcoin bounced at 38.2% fibonacci level, and struggling to go above 23.6%. If we find resistance around $8000, we may see potential dip down to $7426. Potential head and shoulders in play, and next support level is around $7000.
If we find support at $7000, I expect daily tightening equilibrium to form...
I opened a few open positions for trading EOS:
1) Buy: 6.5 -> Sell 6.9 (not sure if this is going to be filled so feel free to cash out when you think it is the right time)
2) Buy 6.2 -> Sell 6.5 (roughly 4.8% profit)
3) Buy 5.8 -> Enter long or sell at 6.2 with stop loss 5.70
I think 5.8 will act as major support for EOS/USDT pair as the fibonacci level...
I have posted numerous ideas regarding the potential bearish breakout since $8500 region, and finally bears are regaining the control.
Looking at the 4 hour chart, we see that Bitcoin went below black trendline today and currently testing $8000 area. $8K-$8.3K is a somewhat tricky area to trade in as it acted both resistance and support in the...
If you recall from my last analysis, I mentioned that Bitcoin was running out of fuels since $8600 regions and ready for healthy correction. Interestingly, Bitcoin tested $9000 yesterday, but it was rejected with very high bearish volume down to $8000. ($400 profit/bitcoin was worse than $600 loss/bitcoin)
Interestingly, the timing of $9000...
I am back for another Bitcoin analysis as there are a lot of things going on in past few months.
Looking at daily chart for Bitcoin, we see that Bitcoin managed to break from bull flag and currently flirting around $8600. I was expecting this bull flag breakout, however, there are few bearish warning signals starting to emerge.
If you recall...
Looking at the weekly chart for S&P, we are starting to see the double top rejection, and this event is coinciding with China retaliates against the US with higher Tariff.
Trade talks between the US and China broke down last week without a deal, so expect major downfall similar to what we saw back in late 2018.
Key supports are $2560, $2370,...
Looking at the daily chart for ADABTC, it is now in oversold territory, and we can expect trend reversal change soon.
Target 1: 1327 Sats (17% gain) 23.6% fib level
Target 2: 1540 Sats (35% gain) 50.0% fib level
38.2% fib level can be also a good place to take profit, but there is no significant resistance in this zone.
SL: 1070 Sats
Looking at the daily chart for Litecoin, we see that Litecoin has entered the demand zone that I drew in the chart. Historically, this region ($60-$70 range) was traded extensively, and it is expected for Litecoin to find support.
1: $70 (38.2% fib level)
2: $61 (50% fib level)
3: $52 (61.8% fib level) if this level is breached,...
Looking at the 4 hour chart, Bitcoin is trading extremely narrow range once again. Early today, Bitcoin traded above $5300 and attempted breakout from April 10th high ($5400), but it was rejected as of now.
Now, the trading range is extremely narrow, which means this is actually very intense moment for both sides. So here is how I will trade:...
Looking at hourly chart for litecoin, Litecoin has established very strong support around $76, and I am glad to see significant bounce once again in past 48 hours!
Now it is essentially a decision time for liteocin as the next move will determine the price action this week. Looking at the chart, $80-$81 range is acting as a still resistance...
Looking at daily chart for Bitcoin, we see that daily consolidation has started few days ago, and the price remain tightly squeezed between $5000 and $5100.
Historical speaking, when Bitcoin reaches overbought or oversold territories in daily chart, the price bounces at least 20% majority of time. In this Bitcoin rally, however, we only see 10%...
If you remember from my previous analysis, I mentioned the possibility of bearish attack last week, but bulls have been very stubborn and push the price above $4100 in the last few days. After bearish breakout on March 25th, I expected to go further down to $3850 region, but I have to terminate that idea when I saw Bitcoin price went above $3950,...
I have been talking about shorting Bitcoin when Bitcoin hit $4000, and I am still not changing my bearish view until Bitcoin proves me otherwise.
Today, I would like to analyze Bitcoin using Ichimoku cloud. In case if you do not know Ichimoku cloud, it is an technical indicator that defines support/resistance, as well as overall trend strength....