Bullish Engulfing on the previous support area and RSI Divergence should work as a momentum indicator for a short-term bounce! Feel free to support my effort by hitting the "LIKE", it is my only fee from You! Best regards!
Keep an eye on this area, a lot of reversal criteria in one area (blue box): - Fibonacci levels - Fibonacci Extension - ABC Wave C point - Trendline retest after the breakout - Daily and 4H EMA 100 - Previously worked support levels are now resistances - A bit sloppy channel upper trendline Definitely, wait for a bearish candlestick formation because the USD...
A possible Sell opportunity: - yearly levels (2017 high) - trendline - strong area Wait for a rejection from smaller timeframes. If possible then wait for a confirmation from bearish candlestick patterns. Feel free to support my effort by hitting the "LIKE", it is my only fee from You! Best regards
I have struggled with further scenarios, after the bounce from my mentioned level at $7,930, because there are two, almost equal, resistance levels which can play an important role in the next movements. To be said, I'm still with mid-term bearish bias because of the Weekly bearish candlestick pattern Evening Star. The price can make another $150-$300 leg upwards...
Two day's ago we had a higher high candle close (the candle which got a close above $8,000), a few hours ago we got a higher high candle close on the 1H. This 1H candle was pretty powerful and the buyers pushed it straight through the blue counter trendline (down-trendline). Yesterday, I said that those two blue trendlines make a Triangle chart pattern. Triangle...
My last movements predictions have been quite perfect. The bounce areas and the breakout areas were nicely exploited and we had some nice movements. At the moment there are some big bearish signs from the higher timeframe, reversal area is not so perfectly identified but don't worry, we should catch some breakout trades. Let's start a bit deeper analysis: The...
Possibly, the price has printed a bullish chart pattern called Double Bottom on the $7,500. Possibly? Because the pattern gets triggered after the neckline break. Currently, the neckline is around $7,860 and if the 1H candle gets a close above the neckline then the chart pattern is valid. At the moment when I write this, the price is above the neckline BUT we...
Ripple has made an important breakout. The trendline since 10. May has broken on 4. June. It could be a sign that the current bull run, which has happened after the XRP Coinbase listing, starting to become over. The price action and some certain levels offer us several trading opportunities. There are reversal trades, there are breakout trade possibilities but...
The Bitcoin price has pushed the new Lower Low (LL) a bit lower into my mentioned (last idea post) support area at $7,500. The bounce has occurred, as slightly expected, and here we can start to see some interesting similarities compared with the movements on the top. Usually, I don't like to search those similarities but currently, they start to match perfectly...
The price has made a first Lower Low (LL) since February 2019! Yes, this constant growing without any significant lower lows has been going on for so long. I hope that you saw my yesterday's post where I warned you that this may occur. The first sign was a Lower High (LH) and the final warning came after the 1H candle got a close below the trendline. This...
Several rejections from the orange lines which have printed some bearish candlestick pattern: - Evening Star - Gravestone Doji (Shooting Star) - Railway Tracks All those have formed in the 4H chart and all those have formed around a pretty strong price level: multiple Monthly lows and Monthly highs have been in the orange area. A great bearish price action but...
The market has started a slight correction, a lot of altcoins and BTC has made some breakouts downwards. I would like to point out some areas from Litecoin chart, firstly a possible short-term(!!) bounce area around the $90. It has worked several times as a resistance and as a support level. Currently, it should start to work as a support and this area has...
Firstly, the BTC has to start a downwards correction and secondly, the ETH Daily candle has to close below the black trendline which will be a confirmation for further movements downwards. At the moment, yesterday's candle made a breakout from the bearish chart pattern called Rising Wedge (thin dotted lines, pulled from the bodies) and this could be the first...
The last Weekly candle close gave us a bearish candlestick pattern called Dragonfly Doji. The mentioned candlestick pattern itself is not the greatest bearish candlestick pattern but if the price starts falling or it makes breakout from certain patterns or levels then it can be a good further indication. Considering the last bounce from $8,300 then my last idea...
Blue box/buy box criteria: 1. ABC Equal waves point C 2. Fibonacci retracement 38% 3. Previously worked support 4. Channel projection 5. Fibonacci Extension 127% 6. Round number 1.70000 7*. 4H EMA200 just below the box (1.69817) 8*. 2012 High below the support (1.69739) 9. To be more secure and if the price falls lower than the marked box then wait for bullish...
After the pump from $8,000 to $8,900 the Bitcoin price has stayed stable and it has started to move slightly downwards. The downwards movement has drawn some confirmed highs and lows and we can start to identify some good levels for further bounces/breakouts. Without a big talk, we start right away! The bounce area at $8,250 - $8,430 (blue box) As you see, the...
I have got a lot of request about EURUSD so, I would like to point out some areas where the price can make some more expected short-term movements. Firstly, the price has been on a short-term ranging range. It has drifted between 1.11 and 1.12 but in overall, the mid-term or even long-term trend is downwards so, currently, more favorable are the sell...
At the moment, the Bitcoin price and the altcoins have started to make a slight correction. Altcoins correction depends highly from BTC but just in case let's prepare for technically good entry areas and currently, let's look where it can be on the Bitcoin Cash chart. BCH has started to form a bearish chart pattern called Rising Wedge. If the price and if the...