Only trading the break and retest strategy. The break has already happened now I am waiting for a retest with multiple wick rejections to confirm a sell. If the sell opportunity is there I will be looking to sell to the weekly level @1.18430.
Let's look at the bitcoin chart from the bigger picture. E.g. on the weekly chart. As you can see we are in the phase above the middle band and if we continue to rise like this without getting a correction of 20 or 30% then the bull market is going to be over sooner than many think. Personally I would like to see a big correction for Bitcoin.
Just putting this out there to see what you all think.
If you got something different, please feel free to post your WEEKLY charts in the comments with a brief explanation - so we can all learn :)
Now Iv been posting this chart for months with my newyears target (which we just reached!) and I haven’t had one like or any interest whatsoever.
I presumed no one gave it a second look because it looked unrealistic?
Look at me now b*tches ;)
In daily time frame price closed below 61.8% ( price drop is possible. )
Also the trend is bearish... risky to buy !
RSI broke the trend line. ( the trend might change direction )
- -DI and +DI are crossing each others but ADX line is < 25 . ( still in range )
So it's possible for price to break the bearish channel.
On the other hand if we...
Oh yes - gamblers aplenty are punching the air. I have little doubt now that BTC will hit 20,000 (or more) soon. Even 21,000 is possible. This does not mean that it will get there. Price could make a significant correction right now before moving north again.
Almost every time the RSI has hit 90, there has been a sudden and significant correction.
To be clear,...
Technical Analysis from Week frame to 15min frame,
a video with full Technical analysis for the USD/CHF having some strong patterns on the way,
I would really love to hear your opinion on what we have here,
LETS ALL WAIT FOR THE BREAK TO GET THE GREEN LIGHT FOR A BIG SELL,
Lets have another look at Bitcoin because as everyone knows, bitcoin's movement effects alts like ADA and LTC ect ect. I'm Just concentrating on longterm weekly chart for this one, obviously if your a day trader or impatient then i suppose this post isn't for you. On the weekly chart, BTC actually looks like its on track to regain all its losses from its downtrend...
Following my analysis on price action of the GBPNZD pair, the market shows an unyielding presence of bears who wish the push price lower. A look at the weekly chart taking into consideration the previous market swings shows a bearish flag pattern formation and the previous week’s close left an evening star formation behind indicating the presence of bears in the...
Zooming out even further on the weekly copying the open / close of the candles from december 2017 - january 2018 would align with our blue buy zone perfectly for one final 'shake out'.
The -27% fibonacci used previously sits around $0.05 which would be painful but with this pretty much exact copy of price action.
The timing on the last chart / the amount of...
Following the last chart this is a weekly perspective of the ideal pull back to / around $0.20 one last time before a fifth elliot wave.
We have 2 weekly trendlines in place and a major support level used in the prior bull run in dec 2017.
The support gives some validity to the bullish trendline where we had 3 weekly candles form at the end of june which is also...