Bearish call still. More TF indicators are diminishing towards the downside now. This breakdown should happen soon. Chat room still is more Bullish than Bearish, with that said this is against the sentiment. It's BTC anything is possible with it's volatility.
Calling out a bearish pennant formation. For theory: Take the flagpole length and apply that to the estimated exit of the pennant and this is how the PT (price target) is found. Although being BTC and the volatility BTC creates, I expect more downwards pressure and a greater declining red flag pole than what I have shown.
Wanted to make some extra channels and in the one hour perspective.
Indicators are riding the Bull Trend still. RSI is way over 50% and this will continue to push price upwards. Turn arounds don't necessarily happen quickly. If price continues on the upwards path, then we could be headed for a Parabolic Drive upwards to who knows when it will stop. Relief seems to be near, but the turn takes a while and the indicators need to find...
Artwork made and saved. Enjoy your trading session !! It all started with this, the chop chop in the neutral trading zone and eventually chat asked for someone to draw - Pickle Rick. So... I drew one, and that's the story.
Placing your bets, I'd say most have already. We are in the "chop zone". It will be decided when price passes into either region and the marked lines are these defined crossovers, take note and continue on. This trading area is what I consider the "Neutral Zone". It is abnormally a large percentage spread and they can last for many, many, days long sometimes. I...
Simple science here...or is it? There's two ways to count it. EW is a great guide, although it is subjective sometimes. I have one of these examples plotted. I have in the past got frustrated doing EW count because of this exact reason. I like EW don't get me wrong, I appreciate and respect it very much.
This Chart is going to explain the higher possibility of the downswing and it's percentage movement. There is a lot of information to discuss. First I will break down what your staring at: 4 sections, from top to bottom #1 Price chart #2 MAC'd indicator with momentum trend bars (MACD is the Heavy Yellow Line) #3 God Mode indicator #4 RSI/Stoch/MFI indicator...
Price could still drive up, stall, or take a severe dip. Currently it seems like there is still some upwards movement left on the indicators, nearest point is 2.5 % up. At this point take a strong look at where things are. I don't have the divergences marked, however, look at the 1 hour and 4 hour, you should see them. Price is already in a triple 1 hour...
Drew up some linage, ascending triangles, and channels. Time will let us know what tracking line price decides to take. Run it chart good for 2 days.
I'm duly noting that "if" price ends up breaking down past our recent lows or this strong line of resistance at the lower 7 K region then brace for the fallout into the Slide Zone. We are still in the 3.75 % trading range as I've posted on my last posted chart (see link below). Reality check => My hand drawn down line is showing possible price bar action for the...
New Year is upon us and the Bulls and Bears will have their last battle. Take note of the trading range, as all bets here are risky. 5 % move from the middle yellow line is where either side will win their battle. Good Luck my friends !!
This chart is to inform of the set-up H & S .. price can blow thru the top and invalidate this... price can turn down at any time now as the height of the H & S is in place. Validation is when price breaks the neckline down below. Tricky part is.. is when to enter.. as price is in an uptrend and we have no clue when that will stop. Likewise price can turn down at...
Indicators are jumbled. See how this plays out. I foresee some upwards pressure in the indicators, although some other higher TF's like the 4 hour should push it back down after those lower TF's do their up swings. Then aggressive downwards play, because I think the 4 hour is going to need to playout on its indicator before we see a huge upward Bull Trend. One...
I haven't published a Divergence chart in a long while. Yeah I usually have busy hard to see charts, my apologies. Meanwhile I even found an under the radar 5-day H & S...and possibly a New massive H & S in the making, but for this we will have to wait. See: (Pink arcs and pink texts) On this chart it is showing that we had TWO Bullish Divergences (green lines &...
Price is crushed in between two very old Fib's, (Prink Fibs - 0.382 and 0.286). Let us take a further in depth look. I'll start from Left to Right with these % percentages I've lined out and some in relationship to price action and plotted Fib lines. As we all know price action jumped up over $1,000 in basically a days time, to its new retracement (Tan Fib 1.000)...
Price has worked its way out of the old low 6,618 (green lines) in which price clearly made a new recent low. I have now fixed up some new fresh Fib. Retracements (brown and blue lines) Good thru the end of year 2019. What is still on the larger scale of price (fib retraces) are the pink and gold lines and these older lines are usually on most of my charts.