XBTEUR hit 0.236, ready for a bounce in the regions of 0.618/0.786. My target is €385 however it could drop as far as €377 in order for it to bounce off the trendline. This is also a 0.382 retracement line from the low in march and the high in April.
Big dump from 3015 and now retracing that dump, it'll retest the structure, fail and drop. Once it begins to drop, depending on market sentiment it could floor to 2800 or bounce at 2850 support. After ~2 days consolidation from the point it hits, it will fly up to resistance and test for the third time with a breakthrough. Shorting the bounce then longing the bottom.
ETH has broken out of its 4 hr structure and rallied as expected. Now a nice retracement has almost completed. It has the look of wanting to go long as much as the XBT looks like it wants to go short. However looks don't make a trade. Watch for a pull back to the .500 where you find a trend line and strong support area. I will look for signals to go long at this...
A bullish triangle with major bearish implications which, for me, are being cancelled as it moves sideways up, building a strong support.
Following the EW theory...this might be the 4th wave up.
Posible next 5th Elliot wave and subsequent correction to retest resistant at 38.2%Fibb Level
ENTRY LIMIT 0.025400 TAKE PROFIT 0.017180 STOP LOSS 0.026100
ENTRY SHORT 0.01540 STOP LOSS 0.01571 TAKE PROFIT 0.01160
Bitcoin price printed a high of around $435.94 during the early hours of 2016. Despite the fact that the market’s bulls were successful in breaching the $431 level, which has been resisting advancement the past couple of days, price correction pulled the price down to a low of $427.17 a few hours after printing the day’s high. So, can we see bitcoin price rise to...
Bullish if price closes above the daily 200 EMA (green). The daily 55 EMA has proven to be a strong line of support. Non-log scale the bottom trendline is just under the daily 55 EMA at about 29,094. As long as price remains above this line, trend is up.
Enough said, we are done with the dump. On the way to $680 , or even the uppermost target of $720 . Sit tight and watch! Not the time for any shorting... :) Everything's screaming BUY BUY BUY! Credits: LowPro & LazyBear for the indicators.