From the chart it seems that the run up and down has the mean duration of 31 days. If so that are my targets in this small move up. 7.4k and 6.2k .
I found a really interesting pattern in the retracements bounce during this intermediate bear trend. every bounce as retraced 33%, 50% and 66% of the last pick. this is a common rules in technical analysis which is often forget. I am expecting btc to hit 7200 and finally 7400-7500 to than pull back to 6.2k and start the accumulation for the next bull run. also you...
This is my view of the BTC fractal. We exhausted the fifth cycles and if we stick to the 2014 fractal there should be an accumulation phase in the next weeks. We should have reached the bottom and we have formed a lower high about a week ago. We may expect another test of the last bottom as shown in 2014 to complete the accumulation and begin the next bull run....
If we stick to the dow theory, there is one hypothesis which is plausible atm. we had a 250 (8 months) days bear market this a normal length for a primary market (9 month to 2 years). We had constant lower high and lower low however the last one was a higher low, failing to create another lower low. This has partially broken the bear structure, which is half of a...
I believe btc may retest the low of the hammer prior to the etf decision. If we follow the trend line setting up resistances and supports, we see a recurrence in this bear trend. also BTC failed to do another lower low this time, breaking the structure, the next retest will be really important. if we break the support at 5700 it may sign a long term bearish...
A pattern which unfolded on the 4H frame is really interesting. as we can see btc is in a new channel (Broading channel pattern), with a strong bullish divergence. If we/it follow the channel we may expect a retest of the 5850 - 5750 after this bounce. "Broadening formations occur when a market is experiencing heightened risk over time. For example, many countries...
4H btc frame looks a bit stronger i am expecting btc to pull back at 6250-6300 before to break over 6500. It looks healthy so far, with a strong bounce expected by the bullish divergence that has formed in the past days on the 4h frame. I am waiting to get on board on the next pull back as the set up on the 4 h is looking strong as we break through various...
BTC had a positive reaction at main support 5850, forming a hammer on the daily frame. this is a bullish sign, however the chart doesn't permit me to be completely bullish yet. BTC has complete all the possible bearish cross (TK bearish cross, 13&26&50 death cross). 6500 is the main resistance at the moment which would sign the reversal and the possible build up...
gold rejected the 1220 resistance forming a shooting star, however, the RSI is not overbought and present a strong bullish divergence. this to me means there may be a pull back to 1208-1210 which is the old resistance turned into support. it bounced off the BB bottom which is an expected reaction. the green candle that a surge from the last price action, suggest...
Gold daily frame looks good. There are different signals suggesting a possible reversal is in play. we have a piercing pattern formed by last candles. gold clean break the resistance at 1210 provided by the hammer back in july and we can expect it will turn into a support. The oscillator all present a strong bullish divergence with the rsi squeezed between the new...
Gold. It looks like a similar situation to December 2016 is unfolding. there is a TK bearish cross and a death cross of 20 & 50 EMA which suggest the continuation of the dowtrend. however we have some sign that a reversal may be coming. A bullish divergence can be spotted on the RSI which is currently under 30 (oversold) . Stoch is extremely oversold and bottoming...
Indicators on the monthly frame shows that gold is oversold, showing a small bullish divergence. BB band is squeezing with a confluence of 20 & 50 EMA flirting, predicting high volatility and possible bounce at this level. Also BB has been punctured by price, has already seen before the price has reacted by bouncing to the other end of the band. Price had bounce...
Although BTC is looking pretty bad, the 4H frame tell us another story, where our hope of bounce is getting stronger. senkou span B is currently providing support i am expecting a bounce from such a strong support. weak piercing pattern is forming andthe next candles will provide the confirmation, if confirmed, target will be senkou span A (7.8k). If btc close...
BTC has change direction quite sharply, leaving a lot of people in disbelief, including me. the OKex huge liquidation of 430 million has drive price down, threatening the strength of the bulls. we had a key level at 7394 which it looks like bulls are struggling to defend. However BTC is still holding the last strong support (7277) which is a confluence of the...
BTC is definitely moving sideways, which is a great time to accumulate more alts and open longs at the right time! i believe the next move will be down to 7500 to then bounce up to 7.7 k than a small pullback to than break the triangle to reach the 8k resistance. good opportunity are about to form. The RSI is working on the support and i believe there will be a...
It looks like BTC is forming an H&S pattern! we broke the downtrend resistance weeks ago! my target right now is 7.7k to conclude the right shoulder.7.7 k is a really strong support as there is a confluence of resistance and support of 3 different fib level and different time frame. all the targets in this chart as you can see are all confluence of more Fibonacci...
It looks like BTC is going down to 7.8k which will provide a really strong support. To me, it is almost certain it has formed a bearish flag on the 4H timeframe as it has failed to stay above the 0.236 fib level! as we hit the support level at 7.8k we should see a healthy bounce back up to the 0.236 fib level, as the RSI on the 1D is gradually reaching the...
LTC looks like is going to throw a new ace on the table! Consolidating above the 0.236 fib retracement has formed a new line support on the RSI which has been holding nicely! looks like is gonna go one leg up breaking the triangle. next major resistance is at the 0.382 fib retracement, but the RSI is playing on the new support really well which makes me think is...