Greetings everybody,
Market shows very lazy price action, so it is very difficult to find some setup there. We think that BTC within few weeks will be driven by
doubts of investors. On a background of Tether, Bitfinex and Noble Bank events, lack of regulation and bit white spots in blockchain technology - investors, as new as experienced ones will try to...
Morning, guys
It is difficult to comment spaghetti chart of BTC that we have right now, but we'll try. Speaking on larger perspective, since the reason for rally was not fundamentals or economy value of BTC but force-major technical situation, we suggest that chances on drop are better than on upside reversal. Here again an issue of absence of regulation appears...
Morning guys,
Yesterday we've said that BTC has no fundamental or technical background for growth and force-major situations that we've got yesterday never lasts too long. Conclusion of our view on Monday was - this spike is good chance to go short at better price level.
Price action today doesn't provide us clear patterns that nuances point that BTC looks...
Morning guys,
BTC has shown outstanding rally today, that was impossible to foresee as technically as fundamentally. This is force-major issue - Bitfinex has a problems with Noble bank, where major assets stand and Tether has a problems with liquidity then, to keep BTC-USD peg ratio. This has triggered explosive demand for exchange assets that investors hold in...
Morning everybody,
This is just minor update to the same idea on BTC. In fact, we keep the same scenario but slightly adjust the price shape.
On 4H chart we have bullish engulfing and it suggests 1H action in a shape of AB=CD pattern. As soon as it will be completed, it could be setup to go short.
Most probable that it will happen around 3/8 resistance that...
Morning guys,
It seems that our bet on collapse yesterday was correct - as soon as market has reached 3/8 Fib level drop has happened.
Now market has completed some intraday targets. It means that within few hours minor pullback is possible, but we keep our bearish sentiment
and look for 5900$ target on BTC. So, 3/8 retracement again, as yesterday is an area...
Greetings,
It seems our bet on collapse yesterday was correct and BTC indeed has reached lower border of the triangle.
This action has completed AB=CD leg and gives us 1H "222" Buy pattern. Still, we are not exciting on it too much.
Recent collapse was fast and we treat this "222" just as background for minor pullback. Most probable is just 3/8 retracement to...
Morning guys,
Yesterday we've presented our longer-term view on BTC (partially it was placed here, on Trading View, partially on our FPA site, just follow signature link to read it)
and we treat any approach to 6900-7000$ as opportunity to go short.
Today BTC has formed good "222" Sell pattern. We're focused on neckline of our former H&S pattern. Downside...
Morning guys,
BTC shows very narrow price action, activity has dropped significantly, so we do not need even any update on daily and 4H analysis.
Today is NFP release and preliminary balance stands not in favor of BTC as market mostly expects to get good numbers. Anyway, BTC stands tight and is forming something like reverse H&S
on 1H chart. Whatever it will...
Morning guys,
our 1H H&S pattern has been completed on Friday by occasional spike up of NFP release.
Longer term analysis mostly makes us to look south. It means that every time when market will come to long-term trendline - it is time to go short,
especially if we have some bearish continuation/reversal pattern. Now it is around 6800 - 7000$ on daily...
Greetings everybody,
EUR stands around vital 1.1450 level. Downside breakout will lead to re-establishing of long-term bear trend and failure of daily reverse H&S potential pattern.
Expectations on NFP data are not in favor of EUR. Right now we see only one pattern that could trigger rally . This is 3-Drive Buy from 1.1450. It will either trigger upside...
Greetings guys,
So, yesterday market has touched our 1.15 support area and neckline of 4H H&S pattern that we've talked recently and still keep in focus.
Now it's time to talk on upside perspectives. Following the harmony of the pattern, upside action should reach 1.17-1.1730 area.
Our butterfly has worked perfectly and market turns up. Now, on 1H we're...
Morning everybody,
BTC price action confirms our suspicions. Although our daily target stands around 5900$, 6200-6300 is another shorter-term target cluster.
Here we have 1H AB=CD and our 4H Butterfly "Buy" that we've mentioned yesterday.
Morning everybody,
Recent price action makes us keep bearish scenario valid. BTC action looks heavy, no signs of thrust up. Current action as on daily chart as on 4H chart
looks like retracement after fast drop. Besides, we have uncompleted our major daily 5900$ target.
Putting it all together, our expectation stands with downward continuation. The only...
Morning guys,
Last week was a reversal one right from strong daily resistance. As a result, we've got bearish engulfing pattern on weekly chart, which, as a rule,
takes the shape of AB=CD action on lower time frames.
Since we also could recognize H&S shape here, our expectation is EUR should reach ~1.1450 area, by forming right shoulder and upside retracement...
