Bearish ABCD PCZ reached With Bearish DivergenceI will target all the way down to C for maximum profit taking though it's a pretty far target so i might settle for 20 percent.
Bearishdivergence
COMPLETE ELLIOT WAVE ANALYSIS OF BITCOIN. ABC CORRECTIONOn this chart, i have identified an ending diagonal structure similar to the ending diagonal we had before the crash to 30k. You can see i have identified 1-2-3-4-5 waves leading up with 64k with wave 5 being an ending diagonal. Following the ending diagonal, there were 5 waves down which leads us to believe that was wave A of and ABC correction. Wave B is usually 3 waves, you can see here i have it marked as ABC, with wave C being the ending diagonal we are currently in. Following this should be 1-2-3-4-5 waves down making up wave C. Wave C is usually a 1:1 extension of wave A atleast but can go down to the 1.618 retracement or beyond. Below i have a passage that i found online exploaining the characteristics of an ABC correction. Have a read of it yourself and see what it supports what i have displayed on the charts.
Wave A, B, and C
Wave A: Corrections are typically harder to identify than impulse moves. In wave A of a bear market, the fundamental news is usually still positive. Most analysts see the drop as a correction in a still-active bull market. Some technical indicators that accompany wave A include increased volume, rising implied volatility in the options markets and possibly a turn higher in open interest in related futures markets
Wave B: Prices reverse higher, which many see as a resumption of the now long-gone bull market. Those familiar with classical technical analysis may see the peak as the right shoulder of a head and shoulders reversal pattern. The volume during wave B should be lower than in wave A. By this point, fundamentals are probably no longer improving, but they most likely have not yet turned negative
Wave C: Prices move impulsively lower in five waves. Volume picks up, and by the third leg of wave C, almost everyone realizes that a bear market is firmly entrenched. Wave C is typically at least as large as wave A and often extends to 1.618 times wave A or beyond
You can see on the chart i have here that there was a spike in volume during wave 3 of wave A and then there has been declining volume during the rise of wave B, which matches perfectly with what this passage describes as an ABC correction. During wave 3 of Wave C is when people will realize we are in a bear market and we should get a spike in volume then.
Well that is my complete elliot wave analysis on bitcoin at the moment, i hope you guys enjoyed it.
LUNA bearish?My followers made nice profit trading last LUNA idea of mine. You can see it in the link below. Now we have to take a step back and take a look at the bigger picture. In last idea, you can see a faded rising wedge that was invalidated by BTC drop (pulling LUNA down also). We traded that descending channel and made a nice profit, but now we can clearly see LUNA still respects this rising wedge. In the meantime we have bearish divergence formed on the RSI 4hr chart. Will we see some bigger correction, It could be the case since we have 2 bearish signs, rising wedge, and divergency. I should also mention that LUNA had a run-up of 320% without any significant correction. U should never underestimate the power of the herd, so it's possible we still can go up, but all signs for a move down are there and you shouldn't discard it. Be prepared for both scenarios...
Bearish divergence on the dailyThe pump is losing power. My guess would be it drops within the next few days. Might see another attempt at breaking 50k.
Bitcoin daily chart showing several bear signalsThis chart shows several bearish signals on the BTC daily chart, and is meant to provide insight into possible (but not guaranteed) future price movements.
- It shows a rising wedge pattern, traditionally indicating a likelihood of a continuation of the previous trend (in this case: a downtrend).
- It shows a decrease in volume.
- It shows a bearish divergence on the RSI.
- It shows a bearish cross on the MACD.
Traditionally, these are all indicators of a bearish future trend, which can be used to speculate future price movements.
I hope my analysis was helpful.
Rising Wedge with Bearish divergence at 61.8% RetraceGoing to target the 100 percent retrace for profit taking here.
GBPJPY Double Top Aug 27th Analysis1H Bearish Divergence Forming. 30 min bearish divergence & double top created first leg of 1H double top.
If price maintains at resistance possible sell coming next week. Don't think price will move that much today.
If price breaks resistance and shows bullish momentum then it will be going for swing highs.
Silver Looking To Pullback More Than 30%Silver tried to breakout and failed then it also failed to gain any sort of bullish momentum on the weekly and now it looks to be ready to crack the support after having a nearly confirmed partial rise and closing lower than is has closed since becoming rangebound.
The Measured Move of this range breakdown would take us down to the .886 retracement where i then think silver will attempt to become bullish again.
ETH Continues to Grind up as It Diverges Bearishly.Lets see if we can get a major reversal off the 1.13 this time.
Gold Sell Idea Update!!!In my Gold sell idea post, I mentioned that the price has reached a key resistance zone and I'm looking for another wave up that will also complete a bearish divergence on the H4 chart and then we may expect the price to move lower further.
The price action followed my analysis and moved as per the plan here. The price created one more wave up and completed the bearish divergence. The price then moved lower further and has delivered an wonderful move to the downside so far!
Original idea
GBPJPY Double Top Aug 26th AnalysisFormed double top on 30 min chart inside 4H Zone. 30 min bearish divergence. Waiting for 5 min to close under marked line on chart for entry.
Monthly Banging Against Resistance With Lots of DivergenceThe weekly move down we got before will be nothing compared to what we get here.
Last time we got a decent move down off a daily Dark Cloud Cover but this time all focus is on the Monthly Divergence and the Monthly Bearish Engulfing This will come down with all the major indexes.
Bearish Bat EntryWe peaked above the PCZ but now we're back in it and showing Divergence I'm going to take this one all the way down to A
Fishing For A Partial-Rise in ETH After Bearish Rejection at PCZETH has made a 1.13 retracement and was rejected pretty clearly. This maybe the starts of a Partial-rise which will lead to a break of this broadening pattern and would atleast take ETH down to around $2600
SPX Parallel Channel Update #2; Monthly Price ActionI posted a chart on the SPX back in April that showed that is was in a monthly price channel and nearing the top. Today i noticed that we hit the top of said channel.
The RSI is showing divergence and the MACD may look to cross downwards soon.
I think that we will be seeing a bit of red in the next couple of weeks.
Update more detail added for BITCOINs next big reversal downSo just adding some additional price areas to my chart.I have also provided the RSI indicatorto show the major hidden bearish divergence, along with the regular bearish divergence. These are both yet to play out and paint a picture of a solid move-reversal down to the areas i have charted here, trade safe and have a plan. Love to hear anyones thoughts, cheers $urfbeach73
Quick Minimum Pullback to the Trendline LikelyWill be shorting this one through the buying of puts as i'm bearish on retail.
Rising Wedge Breaking DownThis one has been going up like crazy lets see if we can retrace back to our trendline with the help of some bearish divergence and a wedge break.
Don't be fomo in,btc still making massive bearish divergence°Technical analysis:
#BTC (Update)
Welcome to this quick update everyone, In daily timeframe Chart, Massive Bearish Divergence Still in Play.
Bitcoin Might Retest $44000 coming Days.
51K is Major resistance now
48K become Support, if it will broke then we can going to retrace the 44k level once more
if we break 51k then 58k level is next Target 👏
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Double Top with Triple Bearish DivergenceDouble top here after having a huge spike in buying and selling volume; this could either be the end of the trend or we may just come back down to test the trendline.
Repeat of 2018 Crash?Things are looking very similar to how they did in October 2018.
> In 2018 FAAMG fell by 25%.
> If we correct 25% like we did in 2018, it would take us to the lower support of this ascending channel.
> A 25% correction would also take us perfectly to the 100-week MA.
> Bearish divergences are shaping up in similar ways as well.
It's interesting to note the similarities, but of course there is no guarantee we see a fall of 25%.
Bearish Bat PCZ ReachedWe have 3 Hour Bearish Divergence and Hidden bearish Divergence at the PCZ of a Bearish Bat
