As we can see the price fell back under the downtrend line. Sign of Bear trend A weekly 20MA is showing downtrend too (not shown in chart). We can spot possible trend reversal zones. Fib 61.80% zone (7900-7800$) Fib 78.60% zone (7300-7200$) Uptrend line of the triangle. (6800-7000$) Ps: The breakout of 8167$ level (fib 61.80% of major fib retracement) could be a...
Hi traders as you can see, we had a little bounce due to a engulfing bullish candle, but so many bearish signs have been following: - Volume decreasing. The volume have been decreasing since the bounce, every day the volume has been lower than the prior candle volume while price has been going up, which is a quite bearish sign, indicating that the bulls are...
Looking at the Fib overlays, BTC is moving around the .5 and finding resistance at the .618 range in the more immediate trend and in the longer range fib. Applying the Fib time zone we can see that from the formation of the high at Mar 5, the next two segments of the fib trends are a repeat of itself, there are double bottom adams that repeat in zones 1 and 2,...
T.A AND F.A BC IS WEAK WE CAN SEE MORE DIP IN BTC UPO 6800-7200 BTC is bearish in larger time frame Sell a 8200 and BuY 69-7200$
Hello Friends, Please find my update. I have given the same to my friends in Telegram and now in TV. We are in the range bound after hitting $11700 mark, the way it was bullish at $11700, we thought it would take $12000 easily, but the market is supreme. Price was pushed down, so the current range is between $7200-$9500. $7200 is the long-term trendline,...
I had previously called out for an Elliot wave inside a channel and a corresponding cup and handle formation. It seemed we were on track to fulfil my targets - we did have BTC pierce the 100 and 200 EMA a few times but it was finding strong support on these averages and the corresponding fib level - 78,6%. Lets not talk about the past, dwell on the past as it...
As we can see, converging triangle is forming, good feeling for the near future. I refill in XLM =)
Just a simple idea
Hi all i wanted to throw this in here for others to see and see if anything could be taken away from this chart in a more precise way, im looking to broaden my learning with the trading cryptocurrencies, but i have to learn more myself first but im seeing patterns and resistance point emerging.And i do not think we come close to breaking throw the first resistance...
BTC is both a downward sideways channel (denoted by the red parallel lines) and yet inside another descending triangle. The current "Bounce" everyone is talking about is nothing more than part of a market wave pattern. The good news that after the wave completes, it should be followed by an uptrend, and possibly a strong one. This is isn't going to happen in...
If we calculate the total move as a macro wave 3, starting from the bottom of the Mt gox collapse, $140ish on Coinbase, to 20K, we can find the fib retracement levels of this entire Wave 3. because we are now assuming wave 3 is done and wave 4 is in place AND this is a macro wave 4, we have many more weeks of bear activity. Considering a macro wave 4, it would...
Major update to my post last week - BTC has clearly breached the bearish descending triangle, and it is almost following the classic market cycle to the letter, another thing to notice we are now in fear territory of the market model. This is why you never "BUY THE DIP" because you don't know how deep it will be. Instead people should be following the trend line...