My out look here is that BTC is in the middle of a complex correction.
The expectation here is a 3 wave move down of equal length to the ABC of W. this comes in at the .618 of the last major swing and has a few confluent factors making the level interesting as a target.
I did initially see a possible start of the precious metal moving back to the main trend pre-end of March, as price began to settle around 1800, a sudden push south the last 7 days may be further indication of a more momentum related push north to return to the trend line from 2018, my long term view did show this dip, (see linked chart below), but with less...
Tesla is creating a nice bull flag . Ideally we would want the price to retrace 50% which lines up with the ascending trendline. There we can have a clear stop loss along with clear entry reason.
Having said that, it is also possible that the flag may break up at any point due to the sheer volume of propaganda regarding Tesla and Elon Musk .
Ethereum has an extended run up with no corrective wave.
Ascending wedge forming with price contracting, logically there should be a break to the downside from here - I have marked the highest level of resistance.
I will set a pending order here (risking 1-3%) and I will just hold this position for years. I think Crypto assets, like the S&P500, will just...
Correctiong for Bitcoin has just started, we droped down around 30%, and now we are having next step of correction. On higher TF we stil have HG/HL which is good, the structure of the chart hasn`t been destroyed. But on lower TF we are bearish.
My point is to compare curent correction move with previous correction which occured in January. It took around 20 days...
If you thought the DJI was overvalued, have a look at the India50. This thing has outperformed loads of other stock indices, even rivalling the Brazilian Bovespa. They've certainly passed the moon. Could the next stop be Mars?
Well I think a significant correction is well overdue. Of course, I don't know when that might happen. The show could start with a 5 to 15...
BTC chart 4h Bybit
What we see: BTC has had a nice correction and we have found nice support at the 4h demand zone where we have also found support at the EMA200 and we have a bullish divergence. Reason enough to return to the 4h supply zone. If we do not break through this zone I see Bitcoin correcting further towards the S/R zone.
Finally a nice correction of Bitcoin. Very fair but this is what I was kind of waiting for. Many are not going to like this but still this is better for the bull market to have a bigger correction in between every now and then. Is the EMA200 going to be enough support or are we going to drop further to $41487-$39996?
Keep you're eyes on it!
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The chart shows that the big bull market in copper may be weakening and about to correct.
The 2H ATR (amber line) showing the bull strength, is vacillating in its conviction. Finally, there is a trend-switch for the south.
This is a trend following set up - which means if shorting there can be no targets. Stop losses are usually difficult to define, are large...
here we have a nice descending and condensing structure. a quick look at the MACD shows us that this sell off looks to be tiring.
We have already seen a break of the larger structure, now we need to see that the smaller patterns bottom holds, and find a break of the upper structure to look for long opportunities. Smaller targets are potential for now and can...
Oh yes - gamblers aplenty are punching the air. I have little doubt now that BTC will hit 20,000 (or more) soon. Even 21,000 is possible. This does not mean that it will get there. Price could make a significant correction right now before moving north again.
Almost every time the RSI has hit 90, there has been a sudden and significant correction.
To be clear,...
Based on previous bull cycles approaching the previous ATH, and assuming this one is no different:
I expect a correction, as does everyone on every platform right now, down from the current region. For me, as a risk assessor I would use a 5% aggressive margin of safety from the ATH level - 95% of $19,666 is around $18,666. This is my "close long positions...
There was some kinda flag or pennant in that. It didn't work. The point is that these
formations can fail.
I'm expecting rebellions and more downside on this time frame only.
If you're long on BTC on a daily time frame, what are you doing? You'd need a lot of 'bottle'.
This post does not mean that BTC can't get to 20,000.
A simple, yet powerful 'Break and retest strategy' alongside 'correction' moves make, for me, the best confluence one can have.
Clean naked chart, Market structure and Price Action, baby!
Buy Bias, after break of previous structure low.
As we can see price has correlated since creating this new higher high after a breakout of this descending TL, and we can see that we are on a strong recent support level backing up this idea that we are due a break to the upside with DXY also breaking out of its descending TL and oil still looking weak.