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Breakdown

#bitcoin - Descending Triangle?Yesterday / last night have destroyed our symmetrical triangle on Bitcoin and pushed it towards the $9k. Most of you already know, that this is anything else than a bullish chart pattern and may break very soon OR can still swing for a while, up to a couple of months possible. We are already within the red support key-level and need serious, serious bulls to turn this picture if we want to grow mid-term. The overall target of this descending triangle would be around the old consolidation support around and just below $6000. Keep this in mind, there are already a lot of people short or sold, and not ready to buy back just yet. Quarterly Pivot is also endangered. ___________________________________________ Warm regards, Neru
BITMEX:BTCUSD.P
by Gl4diator
1
#ethereum - Falling Wedge & Key-Support "D"Ethereum did not manage to overcome the "BO-Level" after it bounced off a former breakout-bevel and is yet not showing any signs of recovery. It´s the opposite, producing a trend-follow H/T right now, was not a very good start also maybe printing a hidden bearish divergence today. No reversal signs are seen on Daily so far. Although passively sitting on a rather bullish falling wedge, this does not mean we cannot go lower to the key-support around $163, where also S1 Quarterly and Monthly S1 Pivot sit and wait for the price to touch the ground. As usual, I have labeled important prices. The trend is not yet grown up bearish on Daily. _______________ Warm regards, Neru ---------------------- Charts made with: Key-Levels & Trendlines
BITMEX:ETHUSD.P
by Gl4diator
bearflag poentially breaking down...target 8.6k?breakdown no confirmed just yet but probability is definitely favoring it now as we can see price acion now firmly under the 4hr deathcross. If price action cant climb back above that deathcross then both the bearflag breakdown and he death cross will be sustained/confirmed. this is the perfect spot if the breakdown is confirmed for price action finally reach that 8.5k gap on cme futures chart bit of course the smart trader will make sure to buy back in a few pips before that and if we continue to fall and hit that target to also buy the dip
COINBASE:BTCUSDShort
by DrDovetail
1
Diamond bottom target hit. 10600 horizontal current support.I anticipate this is only the beginning of the dip but we may see a brief relief bounce from here before continuing to the downside. We have hi our diamond top drop target but we can see we appear to be doing a bart breakdown from the day bullflag and considering how long its pole was we can actually breakdown all the way to 8.8k I'm not saying we will go that far down and I'm no saying we couldn't go even a little further and hit that 8.5 gap. both are quite possible. I however am probably gonna try to play it more conservatively and ladder buy back a small amount here/close out small percentages of shorts then maybe wait until the yellow horizontal around 9464 to ladder in more aS well as laddering in amounts at any significantt MAs or golden fib lines as we run into them. as log as we close consecutive 1 day candles under the 1 day 50ma(aka buy/sell line) we are in a seller's market bu hopefully it's somewhat short lived. I anticipate the correction to be over hopefully by the begin of september or at least the 1st half of September. We need to keep a close eye on the 1 day 150 ma to ensure it maintains support to ensure we stay in the bull market.
COINBASE:BTCUSDShort
by DrDovetail
2
#bitcoin - Hitting 1st potential lowAfter Bitcoin finally decided to go for the green scenario and broke down, it is just now hitting the first bigger support. It´s a combination of the Monthly Pivot & a Channel-Support, also Bitcoin is quite oversold. Watch the levels, shorters might want to think about securing their positions nicely, two ways to go from here and don´t forget not letting winning trades run is as bad as not taking profits, when there is a good spot to do so. In case it goes further you will maybe miss a couple of % and think "I knew it", you know yourself that's subjective and not appropriate. Targets & Supports remain the same. __________________________ Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
4
#ethereum - 3D is showing weakness due to BTC´s strugglesCurrently, ETHUSD is holding above this very important support-line but seems to struggle to bounce off it. Looking at bitcoin and it´s potential to go lower, trader´s who are long on Ethereum should start reconsidering their position in case they were not able to set tight stop losses. Also, the Ichimoku-Cloud is about to turn, on 3D this would not be from advantage for Ethereum´s mid-term development. Lows in the 160´s$ remain a possibility. Targets & Supports stay the same. _________________________ Warm regards, Neru
BITMEX:ETHUSD.P
by Gl4diator
The bear scenario should the pattern prove to be a diamond top.A big red candle has taken us well below the diamond pattern and just under the 4hr 50ma where it is currently retesting and finding resistance....if that resistance solidifies and continues to maintain resistance then we are most likely confirming the pattern as a diamond top in which case its breakdown target is 10628. This may only be the beginning of the downtrend if that were to occur because it could also trigger a bart from the 1 day bull flag with the incredibly long pole which would give us a bart target all the way down at 8968. If this were to happen it would invalidate our adam and eve double bottom chances and potentially allow our double top to still trigger which could lead to yet even more downside so let's hope it doesn't. I think If we were to revisit 8968 we will be very very likely to fill the 8.5k and possibly the 7.2k gaps and then se a huge influx of buyers launch the price back up before it has a chance to trigger the double bottom bu of course we will have to wait and see if we even reach that low first and then how price action behaves once we do. there's still a chance this can be yet another bear trap and the price action could still bounce back up at the last second and break above the diamond/symmetrical triangle pattern but for now as long as the 4hr 50ma is maintaining resistance probability now favors at least a diamond top breakdown. Let's hope that changes but are fully prepared for if it doesn't.
COINBASE:BTCUSD
by DrDovetail
#litecoin #ltcusd - Will the "3D Ichimoku-Cloud" hold?Litecoin is not having a party here. It failed to overcome the $100, after that it broke down the support-level and now it is facing a potential E-to-E on 3D downwards whilst the cloud is ALMOST already bearish. Something big needs to happen here to save Litecoin from a major down-trend. On top of that Litecoin does have some influence on the price development of other altcoins, so this is not only important for LTC. Assuming that BTC is going to make a bigger move: Recently Altcoins were not performing well, so no matter what direction Bitcoin goes, Altcoins look due for more shorters coming in. Be careful if you are "hodling", the further the price decreases the LONGER the way back up will be. Let´s see if this minor support + 3D-Cloud holds! If not next targets would be between S1-Q and the breakdown-level around $68. _______________________ Warm regards, Neru
BITSTAMP:LTCUSD
by Gl4diator
#cardano #adausdt - Failing the bullish reversalWith altcoins bleeding a lot recently, also Cardano, for now, failed to hold above the breakdown-level and is currently testing it from below. From now on we need to watch out more for a break of the 6h-Diagonal than for a potential double-bottom reversal: ADA has more down-potential until the next historical support/accumulation zone. It will be hard for ADA to turn this picture with still rising BTC Dominance. As usual, I marked you the significant prices and also the important Pivot-Levels. __________________________ Warm regards, Neru
by Gl4diator