BAL breaks the trendlineBAL breaks the trendline. Expecting to move. Possible targets mentioned on the chart.
BAL
Bitcoin Price at $20,000 Before Halving Is Realistic as BTCAfter the Bitcoin price surged by over 30 percent overnight, a crypto trader says BTC has got above crucial TA levels
The Bitcoin price has gone against all recent bearish predictions by surging over 30 percent overnight and skyrocketing by around $2,000. The Crypto Twitter is heatedly discussing this event.
A crypto analyst from Amsterdam has tweeted that this is good news indeed - now, as per him, Bitcoin charts show that BTC is above all vital indicators and that the recovery of the 2017 all-time-high is realistic before the halving occurs next year.
$17,000 - $20,000 per BTC is ‘realistic’ before May 2020
The crypto analyst and trader @CryptoMichNL has tweeted that currently Bitcoin price pattern is similar to that of early 2016. He assumes that BTC is now above all the important indicators and so achieving the levels of $17,000-$20,000 before the halving in May 2020 is realistic.
Which is proved by Buyanylight prediction they are doing there IEO which is top company in Dubai having real existence business now they are going on blockchain after telegram. So they said that the bitcoin can be likely go up to 20.000 USD on May 2020
CT1! Long (via. BAL)Cotton futures are currently caught in 2 separate bullish descending wedge patterns on positive divergences. There was one instance where the divergence did not play out, however this divergence was only visible on the RSI (August 2018) which is why we look for both. Coincidentally, assuming we have reached a bottom in the price of cotton futures, please appreciate the fact of how well the Fibonacci retracement levels overlap with the resistances above. Another interesting point to highlight is that if you take the measured move of both falling wedge patterns, and add that height to the potential breakout zone, then both distances happen to fall into the same area of resistance. That level of resistance at ~75.15 will be the final target for cotton futures over the duration of this year. For this trade, we will use BAL, a cotton ETN. A suggested stop would be at 36.28 (5% down) for a potential of 20% upside gain.
BAL LongBAL has hit its long term downtrend support on positive divergences after breaking down from its continuation triangle. Now, it is reversing. We will need to see if it can break the 39.60 resistance level and then continue to break out of the down-trending channel.
Cotton and BAL ETF Are Forming a Major Bottom"Smart Money" commercial hedgers in cotton futures have been basically net long since August of this year. In a hedgers market this rarely happens and so it should be viewed as of major significance for price fundamentals. The commercials typically are net short and use the futures to hedge their underlying tangible commodity position. So what this data is telling us is that the price of cotton futures is so low, that they are completely unhedged for the first time in years.
Additionally on the push to new price lows in November there is a bullish divergence or non-confirmation in the large speculators net positions. This is a hallmark sign of the end of a trend based upon the CoT data.
Additionally, the price of BAL is forming an ending diagonal or three push type pattern with declining intensity and bullish momentum divergence. The set-up is exceptional for a long position here. There are several indicators that could be used for entry. A cross of momentum/ROC above neutral is one. Also based upon the chart, a close back above the June 2012 low, would be evidence that the stop running may be complete, and price is free to move up.
Wedges or diagonal patterns like this often lead to explosive moves, and it seems likely that price will rally above 46.00 on the first push up and take out any stops above the 9-12-14 high before a possible consolidation. However, that would be just the first push in a larger expected move of probable bull market proportions in coming months.
