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Bounce

Consolidation leads to expansion in BTCThe price is currently moving around the weekly support (worth zooming out before evaluating this trade). We had a relatively high volume impulse move up after hitting the lows at 3120 more than a month ago. Now the price has spent weeks after that slowly correcting downwards on low volume, which makes me see this as a retracement instead of another impulse move to the downisde. Knowing the difference in characteristics between an impulse move and a correctional move is very important here. Additionally, we have a falling wedge pattern forming, indicating the selling momentum is slowing down at these levels. When looking at classical charting patterns, it is important to look at the context in which they form. Breakout above 3560 will be the confirmation (safer approach). Once (and if) that happens, the targets above will be active. Crucial support is in 3336-3250 area. If we see a daily candle close below that, the reason for entering this trade will no longer be valid, and in that case we might see the lows at 3120 taken out before a possible stronger bounce up again from the 3066-2876 area. That is out of the scope for this analysis, and I will make a new one if we see that happen. Right now I see it as more likely that the grey support area will hold. Another move down into the grey area (major support zone) is still possible (which would offer ideal entry opportunity with a close stop loss under), but none of the daily candles must close below 3250 (wicks/stop loss hunts are still possible and do not invalidate the idea). Consolidation always leads to expansion.
BITMEX:BTCUSD.PLong
by eyupium
2
Bounce found right at bottom trendline of falling wedge: here is a link to the original falling wedge I initially charted on coinbase: s3.amazonaws.com you can see the bottom trendline when at this trajectory is the exact bounce spot our current price action has found good support at...I anticipate we will move back up to the top trendline of the wedge again before any kind of capitulation. We may test the bottom trendline a couple more times before that bounce towards the top trendline but I personally dont think capitulation will be until after we've bounced down once again from the top trendline of the wedge...however if we do retest the weekly 200ma that may be enough of a bounce to confirm capitulation so I'm still waiting to see how price reacts once we revisit that range which has gone up a little since we first visited it back around the 3.1k area. So for now I anticipate a bounce back up but am keeping this idea neutral because we may do a slow grind downward here and retst the bottom trendline of the wedge a few more times first before we head back to find resistance at the top trendline of the wedge.
BITSTAMP:BTCUSD
by DrDovetail
EW ANALYSIS: Bitcoin Cash Ready To Fly?!Hello Crypto traders! Let's talk about Bitcoin Cash! Bitcoin Cash was one of the first in which a rise occurred at the end of December in 2018. And now, it could be the first one that can complete a correction since we see both, BCHUSD and BCHBTC at important support area between 61,8% and 78,6% Fibonacci retracement! But, the most important from EW perspective is that we can clearly see a three-wave a-b-c corrective structure from highs, where wave "a" is a leading diagonal, wave "b" is a triangle and motive wave "c" ended by five waves! That said, we really like Bitcoin Cash for a potential bullish turn here, but we need confirmations, so if we see a sharp bounce or a five-wave rally away from current support area, followed by a break above previous wave "b" (BCHUSD above 167 and BCHBTC above 0.043), only then we can confirm a completed correction and we can start considering bullish scenarios! Invalidation levels remain at December 2018 lows! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
4
APPLE ABOUT TO START A MINI BULL RUNStock market bubble has started to burst. Although we are already in a very young bear market which will last for a few years. So this kind of things don't play out overnight, there are many throughs and peaks in between. Looks like APPLE (AAPL) has completed the first impulse wave down. We have two reversal divergences between price ahd a fast Fisher transform (red one) and a reversal divergence on a slow Fisher. That is clear enough for me that this is a bottom. Target 195$.
NASDAQ:AAPLLong
by grckijogurt
1
QCOM Earnings: Test of 2-year ResistanceQCOM looks like it wants to test it's 2 year support at the $50 mark. Secondary support is somewhere around $43. QCOM is coming off of a finished head and shoulders pattern, making its D leg downward. Typically a D leg is finished by a sharp reversal. In case of negative earnings, QCOM will likely drop well below the $50 support and have a sharp reversal upward. If earnings are positive, QCOM will likely bounce off the $50 support and make a less drastic reversal upward. Fisher transform also indicates the potential for an upward reversal. With QCOM's extreme debt levels, the FED put will serve them well going forward.
NASDAQ:QCOM
by Derivati_Capital
1
BTC trapping sellers before one more bounce?BTC is currently in a very important support zone on the daily timeframe (range low). Although we've seen a large red candle two days ago, wicking into 3400s, there was enough demand to push the price back up and the daily candle closed back inside the range (potential swing failure pattern forming). The low wick has taken stop losses below, but the sellers failed to follow the push down. Ideally I would have liked to see the price fill the gap below and tap into 3250s and then bounce strongly to the upside, but we can't ignore what is currently forming on the chart here, which is why I'm posting this analysis. For validation of this trade, we want to see a candle close above 3565, after which I expect that area to hold as a regained support (currently resistance). Targeting the resistance areas above: 1. 3649 2. 3780 3. 3849 (less chance to be reached, but still within range) If the bulls fail to take over here (3530-3476) and push this above 3565 (local pivot point), then I doubt 3430 (weekly support) will hold for long. After a candle close below that level, we can expect 3330-3250 area to be reached next.
BITMEX:BTCUSD.PLong
by eyupium
2
Short US Equities. The Dead Cat Bounce is Over.The market entered an important zone of resistance, formed by important support levels in the past. It is also failing to break through the 180 MA, where it has been rejected many times during this recent downtrend. We have also formed a double top, with bearish divergence shown on the RSI. As soon as we break resistance at 6530 with force, it will be a good short opportunity. I believe this was the completion of the dead cat bounce in the recent days, and we should now see a continuation of the downtrend. I will be playing this through SQQQ .
CME_MINI:NQ1!Short
by HBtrader22
Weak bounce increases the likelihood for this bearish scenarioWell, this bounce from 3200 is the most pitiful excuse for a bounce I have seen in a long time. This shows that the support at 3200, which should have lead to a very strong reaction, a rally to upper 5000s, is quite weak. I think we'll go below the MA200 in the near future. Maybe the structure will be different from the 2011 fractal, in that BTC just doesn't really do large bounces and dumps any more, just a slow and long decline towards 1200, the high of 2013. This means that the bearmarket will also drag on longer than expected, and only in the second half of 2020 would we rise again thanks to: 1. The halving effect 2. The stock market bearmarket probably over and new bullrun in stock indices (BTC correlated with stocks) So, let's see if BTC bounces soon, then this might still be averted, but the likelihood fot this increases more and more. The positive of this? An entry at 1200 would be an insane opprtunity, since the ATH for next rally, even though it would occur later, say 2023 plusminus, would yield nice gains. Also keep this chart here in mind: www.blockchain.com Historically, when transactions go above old ATH, only then the beartrend stops, and BTC turns bullish. Never before. And it looks as if it will take quite some time until we reach old transaction ATH. So, I will be prepared for that scenario.
BNC:BLXShort
by SebastianofMoon
24
NASDAQ play update: 5.8k-6.5k? shortterm bull $nq1! $ndx $tqqqIt's late so I'm throwing this up quickly before market open. I'll update it later. My last chart worked out perfectly, we bounced off of a 0.5 retracement from 3.9k in early febuary 2016. I think we have at least 1-2 more days of upside on NASDAQ. My zones are defined on the chart. We bounced exactly on my teal support zone as predicted in my last Nasdaq chart, and I sold off some 12/28 TQQQ contracts at 3:55pm near at the height of the bounce. In afterhours we're currently Bull flagging, probably getting to the .236 fib retracement around 6150. I'll be going long in the morning in anticipation of further upside, but I have a strong main objective to get a good short position on 1 of the indexes after this short squeeze rally. NASDAQ has been the hardest to push down during the past months, and it clearly bounced the highest yesterday 12/26. So I may look to the Russel and the S&P to short since they've been more bearish and I believe we have more downside over the next year.
OANDA:NAS100USDLong
by teckno05
3
Bitcoin is still bullish On the scale of the month, we can clearly see that we are still moving in the descending channel. The formation of the extreme candle looks like a “reversal”, which gives us a good opportunity to jump to the upper edge of the channel, but it will be rather difficult and unlikely to go higher. In the case of achieving resistance of 5,000, the chances for a breakdown and fixation above are very small, to continue further to decline more likely, since the market still does not have sufficient volumes for a real bullran. Still adhere to the scenario that we are now witnessing a rebound of a dead cat. The weekly scale looks positive, to maintain a bullish mood, we need to keep above the 3650 mark. On the month scale, there is still a strong oversold, but on the weekly chart RSI and Stoch RSI look positive, there is a rather bullish attitude and good chances for the upward movement. Day-to-day MACD also looks good. In addition, we can note that now we are in a zone of strong resistance and going higher will lead us to the area with little or no resistance, where we can get a rather strong bullish impulse.
BITFINEX:BTCUSD
by CryptoWolfsTrust
1