It would explain all the new price patterns and movements. We were neither in bullish or bearish territory. We were in a huge Bullish Continuation Symmetrical Triangle and all price movements were taking place within this symmetrical triangle from around April 2017 and will continue till breakout to start next bull run which is expected to be around January...
ETHUSD is in a symmetrical triangle pattern. This is usually a continuation pattern which means in this case, the symmetrical triangle was formed after a bullish move and is possibly currently consolidating in this pattern for a move higher. Wait for breakout confirmation and to be on the safer side wait for a bounce off the top line after the breakout to get a...
BTCUSD is in a falling wedge pattern . This is usually a continuation or a reversal pattern which means it is currently possibly consolidating in this pattern for a move higher or has a lower chance to break down too. For a bullish move wait for breakout confirmation and to be on the safer side wait for a bounce off the top line after the breakout to get a...
ETHUSD seems to have formed inverse heads and shoulders on the hourly chart. Possible breakout trade opportunity above 162 and a possible less risky trade in case of fakeout by waiting for confirmation candle(s) when price retests 162 region as support and bounces. Confidence level on lower-frame (short-term): Low BTCUSD forming same inverse head and shoulders...
BTCUSD seems to have formed inverse heads and shoulders on the hourly chart. Possible breakout trade opportunity above 7000 and a possible less risky trade in case of fakeout by waiting for confirmation candle(s) when price retests 7000 region as support and bounces. Confidence level on lower-frame (short-term): Low ETHUSD forming same inverse head and shoulders...
Bullish Divergence pattern forming on the 4hrly chart invalidated if price goes below around 6750. For CME high and low price on Thursday check it out here: Try not to trade on weekends because its usually when volume is low and the manipulators have easier control of price movements. Also wanted to share that ETHUSD is forming a possible bull flag pattern on...
It is a long weekend with public holiday today (Friday). Here is the Thursday CME daily candle close for the week and where gaps may appear when and if BTCUSD daily candle close on Sunday goes higher than the CME High price 7415 ( bearish gap) or if the daily candle close on Sunday is lower than the CME Low price 7090 ( bullish gap). If you are a bull, lets hope...
I am slightly bullish based on current trend and patterns. On this uptrend, bull flag pattern could have formed and the previous similar pattern did play out from 5900 (30th Mar) to about 7200+ (3rd Apr) and currently another similar bull flag pattern could possibly be playing out. Target 1: If this breakouts out above 7300 there is a possibility of a target of...
ETHUSD has actually formed a bullish divergence on the weekly chart (9th - 15th March - RSI 39.41) with a lower low in price and higher low on the RSI. The previous weekly higher low in price occurred on 16th - 22nd December (RSI 37.2). Price has since started uptrending. For ETHUSD we are currently also near the bottom of the long-term symmetrical triangle...
Here is the Friday CME daily candle close for the week and where gaps may appear when and if BTCUSD daily candle close on Sunday goes higher than the CME High price 7100 ( bearish gap) or if the daily candle close on Sunday is lower than the CME Low price 6625 ( bullish gap). If you are a bull, lets hope that the weekend action does not go higher than 7100. Then...
There is a bullish inverse head and shoulders pattern forming on the 4 hour charts for both BTCUSD and ETHUSD. Trade on breakout and be careful of fake-outs. If you want to be more careful, wait for breakout that comes back to test the support (previous resistance around 6500) and bounces again before going long. Target around 7100. Just sharing an...
There is a bullish inverse head and shoulders pattern forming on the 4 hour charts for both ETHUSD and BTCUSD. Trade on breakout and be careful of fake-outs. If you want to be more careful, wait for breakout that comes back to test the support (previous resistance around the 135-136 region) and bounces again before going long. Target around 147-148. Just...
Both BTCUSD and ETHUSD are having similar hidden bullish divergence pattern forming on 4 hourly charts. Breakout out of the resistances formed for both charts are possible and best to wait for these breakouts out of resistances before putting in long trades. To be extra careful of fake-outs, wait for breakouts and a retest of the previous resistance into support...
This are my thoughts on ETHUSD using BTCUSD Long-term Bullish Continuation Symmetrical Triangle as an Indicator of PA and Forming Similar Trendlines. We were never and are not in a bearish or bullish phase. We have been consolidating within a bullish long-term pattern. Seems that the pattern will also play out just in time for the halving effect which i estimate...
We can wait and see if the next few candle movements are similar. I have tried this once before on a higher timeframe and it worked that time too. Here is the chart for the previous time. Anyone can do it. Patience and checking different timeframes. I suppose these are the bots at that particular time trading against each other making the price move accordingly...
This symmetrical triangle pattern started at the point where the first resistance was form at the peak of around 20K BTCUSD price. That is the left-most top of the symmetrical triangle we are in. This would explain many things especially the confusion about whether we back in bull trend or still in bear trend and if this is only a correction. Price movements all...
When it first formed it looked more like a triangle, symmetraical triangle, however now it looks like a bull flag pattern reversal possiblity after downtrend. Just sharing an obsersation. Nice one to follow and see what results appear and how it breaksout. If its a bullish breakout, since its with trend reversal, it could breakout into an ascending parallel...
The price could still reverse to test the support (neckline of the pattern) and if it bounces comfortably worth another look for a long. If you manage to get in the trade after a bounce remember to create stop losses in profit early as this is happening on smaller time frame (15 mins).