patrading85

patrading85

This pattern has about a 70% chance to break out to the upside. A breakout should happen within the next few days. If its too the upside we should rocket up pretty fast. We are looking for a daily close above 59200 with strong volume to confirm the the breakout. I think if we break up our first long target should be 70K.

patrading85

IXIC RSI is looing a bit week but could be approaching over sold here as the Supertrend issued a buy signal on the daily Monday. This would put my initial target at about 13700 in the coming weeks.

patrading85

The daily supertrend shows a sell signal at about 59500-60K so I am bullish until we touch that. Then we will likely come back down and touch the 20 EMA on the 4 hour at about 55K before bouncing off that and continuing up likely past 60K. Break 63 K and I could see a new parabola forming.

patrading85

Nasdaq has been on a heck of a run and long term I see that continuing. That being said, In the coming weeks I see it falling a bit. The Nasdaq is at the Top of the daily channel that has been in place for many months and I don't see it breaking the channel now to form a new parabola. It is also bumping up against the 2.618 daily fib ribbon and this could also act...

patrading85 Updated 

I am not sure if this correction is fully over yet after hitting my target of roughly 50k but in the short term, my long target would be 56K. Reaction at that level will be telling about future direction. until then I think we head back up to 56K

patrading85 Updated 

Similar to my previous ETH short target post. Here is my BTC short target. we are looking at the 49-47k range for a short. Expecting chop on the way down.

patrading85

I hate to say it but everything looks terrible. If you are trading this I would say the 6 hour time frame looks like a failed retest of the $1700 zone. ETH short target should be 1400-1350 area. I would say this has about a 75% chance of hitting.

patrading85

chart gives us something to watch. already had a break down in the 30M chart. 1 hour right about there.. 4 hour break down would be bad

patrading85

bitcoin is showing an ascending triangle breakdown on the hourly but currently the hour EMA is holding. Bulls would be looking for a sharp bounce with expanding volume here to invalidate the hourly breakdown. Bears should be watching for the 4 hour close below the 20EMA break there and we go to the first support zone. breakdown from that and I think we visit...

patrading85

Fib level target is the 1.618 level or approx. $5.87. Although showing weakness in the RSI, It could be bottoming at in the neutral area and still holding its weekly upward trend line. As long as the trend line holds and the daily support zone holds we could reach our target before next earnings.

patrading85

On the hourly we can hope to see and S/R slip (yellow box) repeated hits of resistance at 59500-60K eventually will break to the upside... Repeated hits of the yellow support box and it too will break to the downside. I am cautiously long but watching for these hits.

patrading85

On the 2-4 hour charts the current fib levels are lining up well with the resistance we saw play out near the ATH (0.5 and .618). I would expect intraday resistance at these levels as we move up. We will likely see choppy price action between these fib levels. Assuming we break the resistance box soon, we could see a quick explosion in the btc price. I am...

patrading85

At least I hope . Should be all green if we can flip this into support similar to February. Should not fall too much out of line

patrading85

Just to keeping it simple here. Pattern on the 4 hour looks clean and could break really soon.. these patterns have about a 70% chance to breakout to the upside. target is 60K area based off the long side of the pattern.

patrading85

A quick chart showing what I think is a bearish divergence on the RSI and volume along with a Bear flag on the daily. I think we drop to the 45-44K area in the next couple days. Let me know your thoughts in the comments below!

patrading85

It seems we have formed a downward channel and these channels when there is a break its most commonly a break up. On the hourly we seem to have formed a bull flag as well with a potential break out happening now. There is still a big chance we face rejection off the top of the channel and flag and head back down but for now.. things look good. If a break out does...

patrading85

Hate to say this but the bearish divergence is playing out and we are likely to see a drop to 47500-600 area.. how it reacts from there will determine our course. If it breaks down from there next support could be daily, but a new local low can not be ruled out. I don't like it but I think the bearish scenario has a higher probability of playing out for the next...

patrading85

Just a quick update here. Bitcoin 1HR is showing a bearish divergence on the RSI. This could mean we will consolidate in the 48200-47700 area before going higher OR if that support area around 48000 breaks down we could be in for a serious reversal. Tread lightly friends.