Morning guys, So, on Friday you could make shure how useful is high wave pattern. Our doubts on immediate downside continuation have been confirmed as BTC rallied up. Today-tomorrow we will watch how BTC completes the XOP target around 4085 area. Currently it seems that it could be done by butterfly "Sell". 4100 area is also important for higher time frames,...
Morning guys, This update needs to be combined with our previous chart of 1H H&S pattern. BTC action is becoming tricky because of too slow action after completing bearish patterns. As a rule, once bearish pattern is formed - trend accelerates down. But here we have another story, and situation on daily charts starts getting signs of bullish dynamic...
Morning everybody, So yeterday we said that now it's time to search setups for short entry. Yesterday market has climbed a bit higher and now it is easy to identify H&S shape here. It means that 3900 area - right arm top again will become the key. Upside breakout will mean H&S failure and upside continuation. Downside turn around 3900 suggests validity of...
Morning guys, yesterday we've agreed to keep an eye on major support area on 1H chart and use it as indicator of strength. So this level has been broken down, which looks not natural for bullish market. It means that overall sentiment is not very positive here and we suggest downside continuation. First target will be AB=CD based on daily black nasty candle
Morning guys, Situation on BTC changes slow right now. BTC has needed almost the whole week to complete our last target. In previous update we've talked about 4H "222" Sell pattern. Now finally it has been completed. In general market shows good background for short-entry, but we need to get a bit more confidence. Now, on 1H chart "222" Buy is forming and 3840...
Morning guys, Although BTC has dropped a bit after our last discussion, it has not broken previous lows but returned back to 3/8 Fib resistance and keeps chances to show deep upside retracement that we've expected to see initially. Still, this retracement happens by different pattern - not H&S that we've discussed, but possible "222" Sell. Now price stands...
Morning guys, If you remember last week we were mostly focused on intraday setup, because there are no question to overall context - by our opinion it stands bearish and we still think that BTC has to hit chain of targets, starting from daily 2800 and lower right to 1800-2000 weekly ultimate target. While on intraday chart there was minor question - how far...
Greetings, As soon as downside reversal has happened, we're watching for moderate retracement to get better price for short entry. Initially we've expected to get upside AB=CD pattern, but as soon as CD leg can't get started and turned to flat action, it becomes obvious that something different has to be formed. Now, with wash& rinse of recent lows, we've got...
Morning everybody, So, according to our trading plan that we've disussed yesterday - we wait for minor pullback to take short position on BTC. Now upside action starts to take the shape and we're watching for AB=CD action right to 3/8 Fib resistance. This should give us "222" Sell pattern.
Morning guys, On Friday we've missed a bit with downside retracement on 1H chart as BTC has not formed AB-CD pattern but turned up earlier. Still overall trading setup of 2 weeks was successful and bet on reverse H&S pattern brought good result. Our 4140$ target that we've talked about has been hit. Meantime, our long-term bearish setup stands intact as well....
Morning guys, So, it seems our suggestion on deeper retracement was correct. Now we could identify and draw AB=CD pattern, which has a target right at 3820-3840 first 3/8 Fib support area. Gradual retracement suggests possible upward reversal there, while sharp drop right to 3800 could mean that deeper retracement happens, right to XOP and next strong...
Greetings guys, Here is update for our long-term DJIA and whole global stock market scenario. We already talked about all time targets on DAX and NASDAQ that have been hit last year. But Dow has not touched it yet. We expect last upside effort to ~29360 where all-time (since 1929 Great Depression lows) 1.618 target stands. As you understand, as soon as...
Morning guys, Two days ago we've said that BTC has hit valuable resistance of major 5/8 Fib level and AB-CD target. Thus, taking in consideration strong upside momentum we keep on the table upside scenario with 1.618 AB-CD (XOP) target around 4140 which is based on 4H reverse H&S pattern. Meantime, now we see clear signs of bearish pressure on 1H chart, as...
Morning guys, Well BTC has completed our short-term target rather fast. Unfortunately it is not possible to put all charts here to show you the whole picture. But, on 4H we have H&S pattern and first 3900 target has been hit. This is AB=CD objective point an major 5/8 FIb level. So, we're at Agreement resistance. Rally shows very good momentum and trading...
Morning guys, I keep the same picture intact, which we've placed week ago. Technical reason for short-term recovery is "222" Buy pattern. At the same time pullback makes no impact on longer-term bearish context by far. To break it market needs to climb above 4300$ area. Now this upside action makes impact only on the daily butterfly shape, but not on its target....
Morning everybody, Finally BTC shows some activity, although I've checked media and could estimate the reason for this splash. Market is so thin right now so, any pool with more or less real amount of BTC could push market in one or other direction. Thus, if you know the reasone, please share in comments. Technically nothing outstanding has happened. This...
Morning guys, Last week we made no update on BTC just because it has lost 90% of its volatility and speculators' activity. Market is not very interesting for active trading. As you can see, even with such events as Fed meeting and NFP data on the back - BTC shows anemic sensitivity and shows no reaction. Thus, everything that we've said last week mostly stands...
Morning, guys, Sorry for extended silence, but actually there were nothing to add to our former analysis. Bitcoin has lost 98% of its volatility and situation changes very slow now. Although market has spent some time in flat action, our suggestion seems to be correct and scenario of H&S failure, drop back to 3000 initially still stands on the table. Recently...