What I am looking for on BTC and ETH for a potential long position later tonight. Need to see the items checked off my list before I enter a trade.
1INCH/PERP Daily: What I am seeing on 1INCH/PERP is that we might have bottomed wave 2 on a 5 impulse EW and are getting ready to impulse for wave 3. The daily bottomed out back in July, creating an inverse head and shoulders pattern, which wave 1 broke through, and wave 2 has come down to retest. If you look left this has also been an EQ level. It also...
I believe what might be playing out on XRP at the moment is a Symmetrical Triangle ABCDE correction after the 5 EW push up we saw earlier this month. In the chart you can see the 5 EW earlier this month in yellow which topped at around $1.36 Then we have started to create an ABCDE triangle correction which we are in the middle of now. You can see the ABCDE in...
I was curious to compare last September (2020) with what we might be able to expect this September (2021), So I went and charted EW on BTC last year. My thoughts: I believe we are currently in wave 3 of the 5 EW on BTC at the moment (which is most likely wave 1 of a macro wave taking us to $100k). My prediction was hit $54k, then drop to around $48k by mid...
I have drawn what I believe might happen on ETH for the rest of this year, which marries up with what I believe might happen on BTC which i will post as another idea shortly. So at the moment I believe we might have completed 5 EWs during July and August as drawn in yellow, and we have just come out of the ABC correction (in red) where we ended up double...
Looking at shorting UNI-PERP down to the 38 or 50 fib retracement on the daily which would still indicate a new bullish run. This is a riskier trade as it's technically counter trend trading, but i like the setup for the below reasons: It has hit a level of resistance/supply zone on the daily and is rejecting. looking like about to form an evening star on the...
Looking at BTC on the daily it has had a nice bounce off the 38.2 fibs which is bullish and means it could potentially break the previous local ATH. What i am looking for on a smaller timeframe on the 4hr is a little retracement back to the level it broke out from last night which will also coincide with a touch and bounce off the 50 level RSI to go long. I...
looking at LINK to retrace back to the trendline and the 50 RSI for a potential long bounce back up to daily level. This would also create hidden divergence on the RSI which is a continuation pattern for potential further upside. Will look at price action when it reaches this level. If we break and close below the trendline and below the 50 RSI this trade is invalidated.
Looking for DOT to come back to the trend line and 38-50 fibs for a potential buy area depending on price action and RSI. First TP would be at previous high which is a daily level.
XRP has reached a strong level of resistance on the daily at approx 80 cents and heading towards overbought territory. took a lot of buying pressure to break it up on 5th April and then a lot of selling pressure to break it down on 21st of June: Daily: It is about to print bearish divergence on the 4hr chart in the oversold area: It is also printing bearish...