Looks like we'll bounce off medium strength support. Then rapidly back down to the long term support area. At any point it breaks the down fib channel then you should by. Until then, don't do anything.
I had a look at similar chart patterns at different scales, including gold during it's peak last decade. This pattern resembles gold where in this overall move, it will dive quickly below yesterdays support, trap some bulls. Then it will bounce half way from it's move in the last few hours and then flash crash into the 10,000's.
BTC - Triangle Pattern for a Day or Two - Then Flash Crash again. Price will bounce between fib channel supports.
Last week, we had a major break out after Thanksgiving weekend. Bitcoin price reached $11,400. We then had a flash crash of 18% which brought us to $9,200 (and some exchanges had upper $8,000. The recovery was very quick, a matter of a few hours. Then a few days past and boom! ABOVE the ATH. If history repeats itself, this breakout we just experienced yesterday...
...I think so. With ETHUSD getting rocked pretty hard yesterday with the GDAX Flash Crash, it would be safe to say some investors have pulled to the sidelines and are still licking their wounds. With that said, I could see ETHUSD retesting 350ish over the next or so and from their it gets dicey once again. This is why I'm currently looking at LTCUSD. Those...
CoinBase:ETHUSD charts are now forever messed up because of the CoinBase/GDAX feed and the ETH "liquidity" / processing delays of today, June 21, that led to this event. I wonder how many ETH panic sellers CoinBase/GDAX screwed-over as Bids dried up or were pulled, and who was the genius who left a Good-til-Cancel Limit Buy Order at US$13 on GDAX, for what...
Good Morning, Afternoon and Evening Traders A week later from my post "Sterling heading for 1.21 level?", the cable has yet again pushed into the very low levels after UK Prime Minister Theresa May stated last week that triggering article 50 would mean the UK not having access to the single market. This wasn't great news for the cable at all, and consequently...
GJ has began its fall, and there is a very large range to fulfill, the question is, what fundamental movement in the market will drive the plummet and to what extent? Many complex factors will fuel the move down, and it is imminent.
large drop in gold flowing to risky assets during Friday indicates downward pressure on gold RSI(14) forms hidden bearish divergence where CCI reach lower than -200 level. Only "Sell" position would worth reward-risk ratio but WAIT! for the pullback. ADX is lower but still more than 20, implying downward pressure on gold does not violate long-term upward momentum...
Since Brexit, GBPUSD was trading inside a weekly trading range between 1.29 and 1.34. That trading range was broken earlier last week when Brexit fears crawled back into the markets. The GBPUSD broke below 1.29 and for three days declined towards the 1.26 zone. That violated last week's analysis that suggested that GBPUSD has chances to bounce to the top of...
Hi Traders, As you probably know, last night on Asian session the $GBP got killed on thin markets condition which made the $GBPUSD drop 8% at one point in under 2 mins but than the market recovered and ended up with -1%. However, when a situation like this happens (which is not very often!) I jump to my monthly charts to give me the best and most importantly; the...