Chart-analysis
BTC Future based on it's Hitory.In Brief,
For all the long term investors, look at the history in 1 month per candlestick.
I think it shows that the Bitcoin still has a lot of dipping before surfacing up again...
BITFINEX:BTCUSD
Bitcoin. Correction. H&S.1. H&S
2. Need to retest level breakdown
Enter ~ Market
Stop ~ 6230$
TP1 ~ 6430$
TP2 ~ 6515$
BTCUSD We are at a critical point here as far as the near future of BTC.
Underlying slightly increasing bottom and a decreasing tops for the last couple of months. Now we have 1 month of (sept 9 to oct 6) clearly raising bottoms and some raising tops. This is where it gets tricky we need more volume to break past that 61.8 fib level and hold. I'm thinking around the 8000-9000 volume for the candle to have enough strength to break upwards. I put a light blue horizontal line where I saw the first failure to break my 2nd resistance line. Now we are looking at the second attempt where my blue arrow is. The good news is this mini upward trend is still inside my golden support line lets see if it can continue the march upward!
BTCUSD chartI see a descending triangle formed from June until now. There has been a steady stream of lower highs since December 2017. Even the volume has steadily decreased from December. I hate to say it but putting emotions aside (btc bull at heart) I would have to say that we should be hit with a downturn probably somewhere in the middle to end of Oct.
I hope i'm wrong but the chart is not looking very favorable right now. I hope that changes..we'll see.
BTC destroys the hopes of holders?I did not publish the ideas for a while, because the market situation needed clarification. And now the situation does not look good:
1. Divergence on the 4H chart
2. Bearish flag
3. Bearish flag fixed to the trend line (see the comment with the image of the daily chart)
4. Possible head and shoulders pattern
5. This movement is corrective because it has many overlaps, which may mean a further decrease
6. According to the Wyckoff method, the next price movement can be the C phase
Enter ~ 6550 - 6600
Stop ~ 6710
Target ~ 6250
Btc AnalysisBTC has now crossed my 1st resistance line and is heading toward the 2nd resistance line. This 2nd resistance line has been a problem on multiple occasions (june 20, july 8, Aug 25, Sep 2). At this point I don't see the volume needed to break through. I'm looking for 6000 + daily volume to crack this resistance line. At this point we are at 4600 volume. With 4 hours left in today's candle it's going to be a close call to break that 6000+ volume. Overall i'm still happy with the upward pattern inside my two orange support/resistance lines. It looks like we are coming close to a break out of the 2nd resistance its just a matter of when.
BTC AnalysisBTC went all the way up to the 2nd resistance (6750) line only to break down even below the 1st resistance line (6500). Looking at the 4 red candles (6740 to 6400) i'm thinking that we should get a small bounce back above 1st resistance. I don't know if it has enough juice to make it up to 2nd resistance or beyond, but there is a small upward pattern forming in between my two orange mini support/resistance lines. Lets see what happens!
BTC AnalysisBTC went all the way up to the 2nd resistance (6750) line only to break down even below the 1st resistance line (6500). Looking at the 4 red candles (6740 to 6400) i'm thinking that we should get a small bounce back above 1st resistance. I don't know if it has enough juice to make it up to 2nd resistance or beyond, but there is a small upward pattern forming in between my two orange mini support/resistance lines. Lets see what happens!
Many signs on Euro/Australian Dollar Good Sunday Traders,
we are looking at the Euro vs. the Australian Dollar on the daily chart. I really like this trading idea and entered a short since 20th July. So why do I think that the EUR/AUD pair will fall at least to the neck of the right shoulder ?
First we see clearly the head and shoulders pattern with a little bit higher right shoulder against the left one. Anyways i think as we go higher in timeframes patterns like the head and shoulders are more valuable than in lower frames like 15min charts.
Putting out my fibonacci retracement and looking at the last swing high (right shoulder) the daily candles did not close above the 61.8 level, which also forms a low support / resistance line. Combined with the 61.8 level, its a powerful line and as we saw on Friday evening price rejected from it downwards, broke out of the last daily candles consolidation and should move a lot more lower...
Wishing all of you a great Trading Week.
USDJPY Double Top Sell StopUSDJPY Failed again yesterday at the 110 handle, a huge psychological level for the pair, it also sits on 61.8% fib from the jan to march sell off. we now have a double top forming, i have set a sell stop at 108.5, as if the double top neckline breaks we'll potentially see it fall to fresh 2018 lows. Have we just set a new lower high on the daily? could we be looking at Sub 100 levels now? Comment below!
RUN is a BTC Bear FLAG!!!A Bear flag was just completed through the end of yesterday's close.
Supporting TA: Lower volume on advancing days (which includes yesterday), weak momentum going up.
Undermining TA: Above several MA's,
Sidenote: 2014/2015 there was a six month consolidation period with four distinct new lower lows. Currently, we have only had three new lower lows. We are only in the second consolidation month and history usually repeats itself.
