Thanks to MoonTrader I implied a descending wedge into the bitcoin bubble retracement analysis. Here you have two different possibilities on how bitcoin can behave in future. I am bullish and I guess I am not the only one. Have a look at the picture: oi60.tinypic.com The chart shows the sudden increase of the price followed by sudden return to the same lavel....
Looking at low timeframes we are in the middle of a descending wedge, that is the retrace of previous high (444 erea). I'm looking for a possible breakout to the upside. There is also an information on OBV indicator, that suggests a bullish divergence. Both a measured move and previous trendlines on the downtrend phase are pointing to the 450-460 area as a...
There was a recent break of a triangle pattern to the upside. After a kiss of the trend line, TSL should look to retest 15.50 given an equal distance move from the base of this triangle pattern.
This descending triangle is always a bearish pattern, indicating a strong sell signal. Here we see it paired with either a "weak" Gartley or Crab advanced pattern. Technically it's a failed gartley. I call it weak, because the 'B' point retracement of XA doesn't reach the .618 fib levels. To be fair this has more of a potential for the Crab pattern, which would...
This chart is a minor re-draw of the chart originally published by chrisdunntv. Changed the following: 1) Moved blue lines to touch candle wick lows and highs. You still have two touches on the ascending blue support line and the descending blue resistance line. I believe this better reflects the recent weakness in the bitcoin price as highlighted in the yellow...
Looking at the weekly chart we can see what Gold has been doing on a plain and simple pattern. Although it is now on a triangle pattern coming from a downtrend we should keep in mind that the price is just sitting on a critical level which was the previous support highlighted with yellow box. Can this be a potential continuation of a downtrend or will support hold...
GC dropped significant and fast from 846s highs completing the shark lvl1 @88.6 XC ret. (8141). The PA is currently on 127.2 ext of previous low with a possible long on this shark to 8222. However, a good structure (February lows) provides more support @805s where the shark lvl2 completes. Discretion is advised since both entries long are technical...
Gold / USD - The Descending Triangle will break, one way or the other. Silver / USD may give us a hint See below the links Silver / USD
I posted a case on the daily taking some liberty with the possibility of a symmetric triangle -- I determine a bullish case due to MACD/RSI/OBV suggesting a positive divergence with respect to price. In this case, I with a descending triangle, I see a channel that is forming in a possible uptrend with significant fib resistances.
As many of you know United States and Japan's diplomats have been working on the Trans-Pacific Trade Agreement TPP. Trans-Pacific Partnership (TPP) is an ambitious plan for a free trade agreement among 12 countries which, if realized, could cover 40 percent of global GDP. It is a key plank in President Obama's foreign policy, and an effort to anchor the US firmly...