This is an interesting chart in the current world landscape, fundamentals would suggest they have found a cash cow, endless boosters to which worldwide governments would buy. But the technical MAY show and SFP on a potential wave five of 5. Of course it could just be a wave 1 of 5 of 5.
ETHUSD has popped its head above what could be its wave 5 ending diagonal. A potential pullback to the 200 Weekly MA (250USD) doesn't seem unreasonable whilst the rest of the field plays catch up. We may even see a low down to 215USD if an ABC plays out on the daily as the rest of Crypto finishes their 5 waves and start to pull back in the weeks to come.
RSI...
Has Softcat PLC multi-year bull market finally topped out? Wave 5 has hit the target 1.618 inverse extension of wave 4, the current choppiness can be put down to uncertainty in the UK around Brexit and who will form the next UK Government so expect a few more weeks in the 890 to 1100 range.
A win for a Tory Government will see the parabola continue until the...
XBTUSD is showing hidden bearish divergence on the one day with lower highs on price and a higher high on RSI.
SHORTS/LONGS is showing an inverse correlation with Shorts under-bought and too many going long ahead of the halvening.
A potential Triple combo across many cryptos leading us down to Yearly S2 by end of year, still far too early to call that pattern...
XLM took me by surprise this week with a surge to its ending diagonal trend line . Any further upside this week to the 0.764 will likely be a bull trap wick, looking for the final leg down to complete the ending diagonal and then trend reversal.
XLM was one of the few major Cryptos to show Bullish divergence on the Weekly before this latest uptrend but is now...
ETHUSD is pretty much at its local top on this rising wedge pattern and will likely see some resistance from here on bearish 4-hour divergence. However, other Cryptos only retraced 0.236, went sideways and have broken bullish with volume (XLM for example) thus creating a leading diagonal. I have been stopped out on several short trades and will be watching any...
The dump of oil to zero proves that any asset can become worthless if demand dries up, but will bitcoin do the same?
Look at this chart and then go look at USOIL, the pattern is remarkably similar, but there is a difference. Where USOIL dumped to zero out of its descending triangle overrunning its target BTC bounced from yearly S1 and is now retesting the break...
Despite the gloomy oil industry news overnight BP didn't shift from its current low. For the past 20 years it has been range bound in a sideways channel which it dipped below on the 20th March. Historically a dip outside the channel has lead to 50% increases to the median line in an ascending channel zig-zag pattern. It has retraced 50% from its 2nd April...
I have my full Short position in ETHUSD. The rising wedge we have seen on declining volume over the past few weeks now has a descending triangle forming in what is in my view the end of this uptrend. I'm looking around $125 for my first take profit and $75 to close my position.
Many cryptos have bearish patterns forming and 360 analysis also sees SPY hitting...
Crypto showing some upside potential so i have closed shorts and switched to long on a micro level.
Several Cryptos have upside potential to the yearly Pivot on the back of an ascending triangle. Downside patterns no longer valid in the short term.
360 degrees analysis sees global stock hitting key levels for a short term bounce.......and news follows...
XRP is an example where we see the final wave 5 (about to commence) for an ending diagonal on the macro scale.
H&S targets confluent with Years S2 look for targets around $0.085
I have laddered my shorts with increasing positions at higher price points so i am more heavily weighted on the short side the higher we go. Looking for a drop over the Easter...
Added to my BCHUSD short position on the recent mini pump and still have powder dry for any spike higher.
Two methods to measure wave 5 have confluence around the $100 price, a long term channel and a H&S target, all on declining volume on rising price.
Will the whales dump over the weekend or continue to rope a dope the evergreen crypto bulls......
A bearish pattern and declining volume points the way to lower lows, we may get another punch through the top of the wedge to trap the bulls and stop out the bears but i likely add to my short position rather than get scared out of the trade.
Looking at yearly and monthly Fib pivots for take profit targets with confluence.
A clear downward channel on XLMUSD with wave 3 breaking the line and I expect wave 4 to break in the opposite direction by the same amount.
I dont short XLMUSD as i only trade on Kraken but looking for a buy around the yearly S2 or a nudge higher on the 1.618 extension.
When you hear lots of good news about the virus then the bottom would have probably been in a...
For those hoping for a cup and handle reversal it looks very unlikely, it looks like a typical wave 4 breaking the channel in both directions with a continuation symmetrical triangle.
Bulls last point of defence is at $180, a break will likely see us down to $55 with a potential to go all the way to $20 on the yearly S2 confluence with the wave 5 target.
Wave 5 is on its way or very close to starting. Monero increasing in price on declining volume having hit the top of the channel for the third time and as typical of a wave 4 had broken the channel in both directions. Any spike higher from here will more likely fill my remaining Short ladders than scare me out of the trade.
This crash will wipe out many...
Top of the channel sees me exiting my Micro Long as it also hit the 0.65 fib with 2hr divergence and a H&S target, opened a small partial position on the short side and will be laddering in shorts on any higher highs from here. I will exit my trade if i see increasing volume to the upside (except a blow-off top volume ).
I expect one more big dump over the coming...
Spy hit my downside daily ABC target on the button, taking out the stops from the previous low.
Expecting a rally to around 280 at which time i will mostly be in cash with an eye on the ABC weekly sell off and re-evaluate.
No surprise that good news was released today, news follows price!
I use this index as a guide to my all round trading strategy across a...
