Look at this Market.. ok ok.. it doenst matter which market, but this is gone wild for the last couple of months.. perfect market cycle.. even foconacci Extension was working.. =) So lets crack da Nuts..: Whats going on and on and on - every market every TimeFrame: 1. Accumulation 2. First Pump 3. Accumulation 4. Second Pump 5. Accumulation 6. Third Pump 7....
After several days of sideways, the outcome is not clear. However daily money flow and RSI have been holding strong on the significant 50 level. Both indicators formed a head and shoulders pattern that seems to be over now, leading to a period of consolidation or uptrend. I still don't feel the upward trend, but breakout over the 450 level would definitely start...
The 420 top was clearly the head of this pattern which is on the brink to complete. If you are not convinced yet on this move, you still have some time to close your longs and be welcome to the bear side of the force. This will go at least to 300, but I wouldn't be surprised that we go to 250 or so. If you follow this move by the book, it should go down to 230.
While we fight the battle of the forks might have to take some time for the lower block confirmation. Chaikin totally failing, not that good of a sign.
Barrier triangle.. topping pattern Yes I know many have feelings for the stock and the company...BUT detach yourself and see it as a spec-instrument like all the others. I'm not calling that the top was in the 28th of april but if the the latest bear flag breaks down - the last blue supporting trendline will break as well. This pump'n'dump scheme - almost...
HISTORY WILL CONTINUE TO REPEAT ITSELF IN EVERY ASPECT OF LIFE UNTIL WE BEGIN TO EXPECT IT. FOR SOME REASON, WE HAVE YET TO LEARN OUR LESSON IN THE TECH SECTOR. THIS CHART PROVIDES TWO OF THE GREATEST TECH PUMP AND DUMPS IN THE HISTORY OF TECH STOCKS, NORTEL NETWORKS AND BLACKBERRY. IN THEIR PRIME, THESE COMPANIES WERE KNOWN TO BE THE HOTTEST COMPANIES IN TECH....
Look for the (A) Bullish and (B) Bearish scenarios on the chart with explanation. I personally still do not believe that we will break past the 255-270 area. I think we might test 260ish within the next few days but we will fail there. However, I am always open for the bullish scenario once I see a huge breakout with good volume! - a good trader always look at...
LONG - We're at a strong support level and at the bottom of the consolidation. There's a good possibility we bounce here, which could make for a nice short term long. Levels of resistence are shown. A break above 218 would be more confirmation for long. SHORT - A break below 215 could get ugly seeing how volume has been high throughout this cycle.
Range narrows as market consolidates and volume dries up. A break from this pennant could be the start of the next move
Seems BTC elephants are building a position between 215-275. This could resume downtrend hard or attempt to break the downtrend. Range will continue to narrow for now as the funds prepare their move.
If we get another sell off, I am looking to buy the bottom at key areas
11 Aug - 18 Aug: 42 CNY to 22 CNY (-48%) 18 Aug - 21 Aug: 22 CNY to 38 CNY (+33%) 22 Aug - 23 Aug: 36 CNY to 29 CNY (-24%) 23 Aug in an hour: 29 CNY to 33.21 CNY (+13%) It looks like Litecoin will never die even with the strong competition of other alt coins. Its advantage is a huge acceptance in every China exchanges, every 1% swing in Bitcoin will result in...