Hi guys, another update on btc.
Seems like the last update didn't play out so well so i've went back to the textbooks to study about what went wrong as well as to incorporate other elements into my strategy to make it more accurate.
A general weekly view:
Seems to be forming a bull flag with the decreasing volume.
We just bounced off...
2nd update with targets at green lines.
This chart fits the bullish gartley pattern with further confirmation if weekly chart closes as a doji at demand area. Would be a good area to long with a nice R:R.
Furthermore, this might be the weekly higher low for ltcbtc which mean an uptrend is in place if this bounce is successful with formation of a higher high (this...
Long biased. Just a quick explanation point-based explanation as to why
1) Bounced on demand block
2) Bullish gartley pattern seems to be playing out
3) Bullish engulfing on the daily.
However there's still a lot of resistances/supply zones above and that this is a major downtrend so do take note and trade safety.
just a short update to last week's long suggestion. If you're not planning to read the analysis, my overall opinion on next week's move is "Bullish", but in the end, i may be wrong too.
Long biased targeting 12850-13050 (blue zone) .
Further action? Price comes back to retest 12000-12200.
so btc outperformed expectations. Was initially expecting targets of...
I'll start trying to update btc every week if there's anything interesting.
Seems like btc played out as per the previous update, bouncing off the zones and now doing it's 3rd (and most probably final) test of the supply zone .
Highly probable chance of breaking out considering that it's the 3rd test and the rejection from the prior test is pretty weak....
fresh test of demand zone
doji on 1H to serve as confirmation candle
HTF demand zone below.
Only worry is that it's against the trend in general
Minimum 2:1 R:R. could target top supply zone for a higher R:R
Looking at the chart, we're now at a pretty strong supply zone for ETHUSD.
This might signal a rejection is in sight, aiming for the lower demand zone.
However one thing to note is that there's a "V" shape rejection showing bullishness of ETH
So if it plays out, we might see it break this strong supply zone and head up to the next supply zone.
At this point I...
We got a fresh test of a demand zone which seems to be holding against the bear assult.
We've already broken 2 demand zones (which i've removed the one with the lower timeframe) and formed a new supply zone which in my opinion it should come back to test before going further down.
This could be the lower high or "E" wave
If it runs through the supply zone, then...
Instead of takig gbpusd short, i'm taking this
1) no clue what USD is doing so avoiding correlation with it
2) RBD formation
3) Layered supply
4) GBPUSD touching HTF 2nd supply zone after cutting through the first one.