CryptoBanker

CryptoBanker Updated 

I originally posted this setup on Oct. 30 (linked). It took FOREVER to reach the anticipated reversal zone but today's capitulation sell-off finally completed this wave. I can only imagine how negative sentiment is today on social media and such, so the mood and despair for the bulls also creates good conditions for a major bottom here. Note to self: sideways...

CryptoBanker

Taking another stab here at picking a bottom in oil. Midpoints are difficult to decipher in such drastic sell-offs but if you catch the bottom we'll be well rewarded with an inevitable massive short squeeze. Regardless, this is def a high-risk trade. The relentless sell-off seems to be heavily algo-driven and major energy funds liquidating (according to rumors)...

CryptoBanker Updated 

Further to my recent "oil sell-off complete" chart (linked), I'm much more cautious getting long energy, especially because of this heating oil chart. Will see how both my Brent crude and heating oil charts line up going forward but I expect Brent to be considerably below my target zone by the time this heating oil chart drops into the 2.04 and below buy zone.

CryptoBanker

I first saw this setup in March this year and thought "Dash under $100??? Yeah right". Well, here we are. For this setup we've got a less-than-textbook doji bar midpoint but it nevertheless signified a pause in a strong down move. Yet again there's some serious inter-exchange differences to contend with since this setup involves the 1,500+ spike in December...

CryptoBanker

Cryptos continue to humble and frustrate. Here is a LTC setup that caught my attention while looking for additional midpoint setups that suggest an ending of this sell-off. At this point I'm looking to always have 50% of my crypto trading capital deployed. Ongoing price suppression can end any minute as far as I'm concerned. So if I'm wrong, such as in my last...

CryptoBanker

As mentioned in my last idea, here's a chart where the price zone is already hit... time to scale back into longs.

CryptoBanker

This is an old midpoint that is back in play and nearing completion. As an extra layer of uncertainty, this very same setup painted on different exchanges (such as Coinbase) has already seen the price reach the target zone... just to keep things interesting

CryptoBanker

Another midpoint here suggesting at least an intermittent bounce in energy coming up. Looking for Schlumberger, a good proxy for oil, to bounce off 27.30 zone... will it hit this zone at the same time my previous heating oil chart bottoms?

CryptoBanker Updated 

Stalking a very nice setup here on UK Oil... Starting with the first fib anchor point at the swing high of 86.69, the yellow circle highlights a distinct candle pattern that qualifies as a midpoint (place 50% fib here). Target zone for considering the sell-off complete and consider getting long is 69.20 and slightly below. As secondary confirmation that this...

CryptoBanker

No fancy analysis here, just a general observation of the strong support zones cryptos have been unable to break down in recent months. Here the BTC/CAD chart from Kraken, showing many long candle wicks dipping down below 8000 and being quickly bought up. Other BTC charts have a similar look. For longer term HODL positions, I'm accumulating now.

CryptoBanker

Wednesday's rally did indeed hit resistance at the 2732 level and then pulled back some (green arrow). Enough for partial profits but nothing to write home about. The pullback was short-lived and continued strength on Thursday gave way to a significant breach of the 2732 level on Friday (red arrow). To me this means one of two things: 1) I have the wrong...

CryptoBanker

The Fib set on the left is a setup I recently posted (see linked idea). I still consider this setup valid as it didn't quite reach it's target but look how well price action respected both the 127 and 161 extension levels after moving forward. In addition I'm following a new Fib set (right side of chart) with a midpoint (yellow circle) suggesting a similar...

CryptoBanker

Continuing on from my "Crypto Bottoms 1" idea (linked), here is a setup calling for a less drastic sell-off. This midpoint formed all the way back on Sept. 17 (yellow circle). Why am I still following it? This wave has yet to completely play out by reaching the target of $185 (0% fib level) and price has proven that this setup may still be valid by taking a...

CryptoBanker

There was a time shortly after Sept. 12 (circled) where the ensuing rally, with increasing volume, made things look like the bottom was in. However volatility and price action has more or less flat-lined since then which makes me think we'll come down for another test of the red trendline. My best midpoint projection here comes from the 838 high and triangle...

CryptoBanker

Looking for SP500 futures to top out between 2725 and 2740 zone. If you're convinced there's more downside coming in equities, this would be a very good area to consider getting short. Midpoint (50% fib level) is circled. If market is very weak we may only touch the 23% level and turn back down. Gold bottoming around 1226 at the same time as ES hits these...

CryptoBanker

There's a distinct potential midpoint evident on the daily chart. It's the small green bar (basically a doji bar) I've circled on the chart. Placing the 50% retracement level through this midpoint with a starting point of the 8491 swing high suggests a low of 5539. Also noteworthy, the 78.6% and 23.6% levels line up as good support on the way down with this fib...

CryptoBanker

Following up on my previous idea, we have indeed seen a generally bullish move here. I am however updating the midpoint to a new level (breakout point, circled) which gives us a slightly higher target zone of 11430 and above. When more bullish pressure builds as it has in this cycle, it can skew bullish targets to the upside. I have removed all other fib...

CryptoBanker

The large circle shows a high-probability midpoint - an inflection point where price suddenly broke higher after a consolidation. Smaller circles show where price respected other fib levels as well. This cycle suggests bullish conditions until around 11275 for our next short-term top.