This run up from 29k has been fast paced and well accepted by most. Most are certain downside isnt feasible at the current state as BTC is so bullish however given confluence at 54k mixed with a few other indications , i feel our current position is not going to be held for long !
Mapped out are two price ranges highlighting the drop size required to go to 27k ....
Roku bounced really well at the strong support zone and also changed the trend to bullish "U" on the daily and 4HR chart.Previous Resistance that turned into support $351 is crucial indicator of reversal. Making daily higher highs and higher lows gave it a confidence bounce upside. If it can hold at EMA 20 with volume, it can easily hit back to $360. Bullish...
Hello traders and investors! Let’s take a look at NIO today!
Since it reported earnings, NIO has been in a bearish momentum, and it seems nothing will reverse it. The last support was at $ 38.66, and NIO lost it, but what does this means?
We are still far from May’s bottom at $ 30, and since it dropped that sharply, it has good chances of bouncing back up, but...
The previous trend line resistance for the wedge is now acting as support as go into the mid and upper 40's. This is normal for a s/r to flip however what I find weird is the candle we saw earlier dipping inside the wedge and bounces off the support.
Previously I had stated that the 10-11th of august is a deciding day for BTC as we are likely to test the 200dma...
here i am showing you bitcoin's historical price action after every bull run.. if BTC follows similar pattern like 2013 & 2017 bull run our bottom can be $16000 to $13000 after smaller dead cat bounce by which we can retest around $40000 range.
The USDCNY continues to find itself in a solid downtrend. This is illustrated by the ADX indicator, which has been threading above the 25-point benchmark since late September 2020.
The ADX reached a peak around the time the price action fell to the upper boundary of the last Accumulation range at 6.4700. Afterwards, the price went on to establish a false bullish...
Price has been unable to rise clearly over the 40k level.
Good news is that it almost reached 40,500 today before finding resistance to drop below support at 38,500
At this stage it is important to see Higher Lows!
This means that if the price drops below the 36,000 level we run the danger of seeing a further drop / in this case the rise from 30k to 40k...
Bitcoin has dropped below the 20week and 200day moving averages for the first time since April 47th, 2020. With a triple bearish divergence, a break of the pitch fork trend and floating below the 20wk MA..I cannot help, but read this as bearish in the short term until we secure a weekly close back above the 20wk MA. Not sure how much lower we could go, there is no...
In trading, "Dead Cat Bounce" refers to a temporary recovery that occurs after a sharp price decline that is usually followed by a downward trend. It can be defined as the chart phenomenon that occurs during a bearish movement.
Basically, it is an expected correction on a brutal fall in prices. In the market jargon, it is a trap for the bull traders.
Bulls, Stay Alert!
The NZDCAD is about to test the strength of the ascending trend line. If it manages to break down below it on the third attempt, this would likely allow the pair to probe breaking even further down south - towards the previous swing low.
Upon completing the last 1-5 Elliott Wave Pattern, the pair is currently developing a corrective ABC pattern. Notice that the...
The GBPNZD pair appears to be forming a new Dead Cat Bounce pattern, which typically signifies likely bearish reversals.
An opportunity to sell around 1.94500 (previous swing high) may emerge, provided that the price rebounds from the 50-day MA (in green) and 100-day MA (in blue) for a second time. It did the same during the establishment of the first Dead Cat...
QQQ 5 waves down - the fib extensions measure out cleanly.
Because it appears there have been 5 waves down this implies it is the A wave of an ABC correction.
Now will watch for the B wave up dead cat bounce, before the c wave finishes it and could bring it lower.
There is another more bearish possible count here but wont post that just yet. If this ABC is the...
