Price has broken this descending trendline and the Canadian dollar looks like it could get some weakness, waiting to see some signs of hourly reversal patterns to get involved, otherwise right now, trading what we see, we are still bearish!
Managed to catch a nice 5.5RR on this pair today, decided to get in and out with the uncertainty of the pound.
Very simple elements:
Stop Hunt Fib
With a target of my key level (well just above as we don't always have to tap it exactly)
Gold is coming into a very key area this week, potential to tap into 1800 before selling off.
Early on in the week, if we see pullbacks, I will likely look for hedge longs into this region so I can then take sells risk free.
With that being said, gold on the weekly is looking very bullish and could soon be back at the 2,000s but lets continue to...
All Indications point towards the strength of the US Dollar for the earliest half of this month. The NFP given a huge boost to the pair and suggestions from DXI suggests that bulls are in for the US Dollar so technically, BTC could receive some possible retracements from this level although not distorting the uptrend but we'd love to pick up some cash in this...
With price breaking below a major support level and now coming back for the retest, Stochastics showing some nice divergence on the 2hr and also some nice price action in the form of some pin bars reacting of the major support level. I would like to see this now push further down.
Institutional/smart money/whales/big spenders move the market. They are the ones with the capital to take out a lot of pending orders. The most small guys can do is hope to not stand in front of them.
See 22nd Jan this year. Volume was 143k bitcoin traded this day just on Binance. Price was around 31k, which means that $4,433,000,000 was traded on this day. $4.4...
Before we break through to all-time highs, we're probably due another correction. RSI bearish divergence indicates a drop coming up. The previous correction is highlighted as well for comparison.
Disclaimer: I'm a know-nothing bozo. Don't listen to a word I say, don't say I didn't warn you.
On this chart which is a bit of a mess i identified a butterfly pattern and with then Fib levels that are circled, there was support at this level on the red support box that goes backwards to sit in additional price that has respected this level there is also bullish divergence on the RSI indicator signaling that this market is about the reverse to the upside,...
Overall my bias on this (longterm) still has not changed. I will still not be looking for the longer term swing high just yet.
Our analysis on gold this year has played out to a Tee(Pee)
This is a nice and simple setup. For it to be relevant we need to see a break of the top of this falling wedge structure, this then opens up the targets to 1745 & 1770. Both of...
Link is showing signs of a strong hidden divergence here at 4hr chart.
It is hidden because price bottom stays same while oscillators go upwards building up strength to pump.
That’s the idea. Let’s see what will happen in the next 4-12 hrs.
BTC/USD 4h chart. Despite the fact that we are all hoping that BTC will go back up we are still dipping a bit. We have made a new lower low but the bullish divergence is still active and the demand zone we just hit again. Would like to see the candle lose 4h in the range otherwise I see us dipping further and the S/R zone is definitely an option to start looking...
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.
The disconnection of the DJI and USTech100 has happened before for short amounts of time. In the last limb of price you see this happening.
The question is 'what happens next?' Unfortunately my crystal ball broke a long time ago, and I'm not purchasing a new one on Ebay. 😂
This is one to watch. The H&S on the USTech100 is not predictive.
There are also some...
Bitcoin has seen the 4HR ascending trendline breakdown following confirmed RSI bearish divergence & we should see bears follow through over the coming week, $48,500-$47,500 is my first area of interest & $42,000-$41,000 the main area for long term positions with maximum risk to reward opportunity.
$ETH has printed a RSI weekly bearish divergence & I'm patiently waiting for a retest of previous ATH in the $1480-$1350 range if the opportunity arises, note when Bitcoin broke it's ATH we never ended up seeing a retest of it's ATH so this scenario could be front run & we might not see this play out. One thing i've learnt over the past 4 years of trading in these...