bestfarbit74

bestfarbit74 Updated 

on daily chart we can see a clear descending wedge pattern. this pattern is a bullish pattern in it's nature, however it doesn't mean price can not close below the pattern. price still has a chance to keep dropping more, so judging on bullish momentum is soon yet. from the indicators aspect price is moving between 50MA and 200MA and MACD shows more sideways...

bestfarbit74 Updated 

gold now is moving in range for a while forming a triangle. in lower time frame ( lower than 4H) we may see an upward pressure soon the condition of this strategy is price won't close below my baseline also can close above the trend line. in any of this case we can expect target around 2000$ or less.( resistant area of my chart). also we should consider on...

bestfarbit74 Updated 

In my last update from last publish on BTC analysis I mentioned about the critical support area that need to hold price, to prevent more drop. also mentioned below the baseline would be bearish, so yesterday price started to decline. now if price continue to close below the critical level 28200$ we can expect more drop for coming days. at this case between...

bestfarbit74

right now price is moving above the baseline on the chart. so we can not expect price decline yet. the nearest resistant level also is around 139.5 and we can expect price respond to this level too. however our strategy for short position will trigger when the price move down and close below the baseline. if that happen we can expect price will drop more, so I...

bestfarbit74 Updated 

at the moment price closed below very important support area (28800). however I expect price hover over around this level before making a bigger move up or down. yes both side still on the table and the key area on the chart need to watch closely. so based on my first scenario the area can hold price and move it above the 28800 level to keep it's bull...

bestfarbit74 Updated 

the ascending channel is our key first scenario price will close below 1984$ and close below channel. we go for short second scenario price will hit the baseline around 2003$ then drop. we go for short in first scenario stop loss would be above 1984$ in second scenario stop loss would be above 2006$ target in both scenario in the case of drop is...

bestfarbit74 Updated 

price is moving into the channel right now and I expect this pattern works for a while. whit this set up my first guess is that price test the bottom line and bounce back, at this case my order position would be long. in the case of closing below the baseline or the channel, trend may turn to bearish. so as long as price holds the channel it's bullish. main...

bestfarbit74 Updated 

if you look at the chart you can see a big inverse head and shoulder is formed. this is a good sign that tells us soon or later price will break above the pattern and rise. at the moment price is moving in a triangle too. also price is closed above daily 200 MA signs for more upward pressure. so either now or later we should expect more upward pressure on this...

bestfarbit74 Updated 

price finally broke above the very strong key level 28K. right now charts on daily and bigger timeframes shows more bullish signs however in lower timeframes we may have short term drop. but this drop or moving sideways also can help Alts to start their real bull trend. at this case I think Bitcoin price can move between two level 28K and 31K for a...

bestfarbit74 Updated 

first I need to tell you this is not solid statement and plan. ( but which analysis could be 100% solid at all :). ) this is what right now I can see from the Elliott wave aspect. I we agree on the bull trend and the (ABC) correction of the BTC market for now then we might count waves like I did and the coming waves we could expect to resume. in my view right...

bestfarbit74 Updated 

gold right now has more chance to grow and hit next important levels to complete it's 5 impulsive wave. as you can see 4 wave of this impulsive trend already done and we are into the last wave right now. if the price close above 2051$, I believe it can gain next target around 2110$ at this scenario wave 5 is extended. so right now our support level would be...

bestfarbit74

price at the moment is moving between 2 key support and resistant levels. I expect price can move in the ranged zone for awhile. so below local trend line will keep dropping however may test around 1960$ before another step down. in longer timeframe charts I don't see any strong bearish trend yet. so as long as the key support level 1903$ hold the price I...

bestfarbit74

price had very strong rally after finding it's bottom around daily 200MA (watch my last post). right now I see no reason to break the 200 moving average downward. and everything seems bullish to me at least until the rules on my chart won't break. now we can say price will move into the wedge pattern forming unless one side break out. however price shouldn't...

bestfarbit74 Updated 

in last analysis post on BTC if you followed, I mentioned 25200 is solid resistance. also mentioned about expected support levels to retest. between 20800 to 19800. why 19800?.... the answer is because AM 200 laying on here. so if 20800 can not holds it make sense 19800 would be our important level to hit. also I draw a local channel on the chart from the top...

bestfarbit74 Updated 

price hit the very important resistant level at 25200( if you followed my last posts on BTC). since then is moving sideways and I don't expect it breaks easily. so very possible to decline at this level but where?.... I suggest you to watch those two dynamic support level on the chart because either the first or second level I expect price bounce back upward...

bestfarbit74

price broke the downward local channel also closed above the key level that is the baseline on my chart. the strategy is so easy, above the baseline has more chance for short term rise. the target would be between 1860$ and 1870$. however if price close below the baseline increase the chance of more decline to next level of support line. this strategy will...

bestfarbit74 Updated 

USDJPY is now moving into a local ascending wedge above the baseline on my chart. so right now everything seems to show more bullish. however we can't see any precise strength on MACD histogram or the line. so if the price moved and closed below the baseline with MACD confirmation to close below the zero level it has more chance to keep declining. both...

bestfarbit74 Updated 

if you followed my last post on gold you can notice price finally closed below my baseline , declined. and hit my support level targets. although I expected from 1940 price will drop however the main key level was closing above or below the baseline on my chart. this is important we have a baseline strategy to manage our trade. now the strategy would be the...