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Consolidation

GOLD → The price is coming down again. New targets?FOREXCOM:XAUUSD does not reach the resistance zone. Another strong seller appears on the market. The market pressure is formed and the price of XAU forms a set-up that predicts further decline to the range support. Today at 13:30 the US GDP will be published. Analysts expect GDP to decrease by 1.6%. But based on the general data there is a possibility that the data may be slightly higher than expected, if this happens, it is a positive scenario for the dollar, which will negatively affect the price of gold. Technically, on H1 there is a strong density of resistance and the price breaks the support of the local ascending channel, which plunges the market into a negative phase. Before the news a correction to resistance may follow before further decline. At the moment the target may be the area of 2015 - 2008. Resistance levels: 2031, 2034 Support levels: 2025.8, 2015, 2008 Gold is trading inside the range, the liquidity area on the resistance side has been tested, but the sellers are very aggressive on the background of the growing dollar. The gold price is heading towards the support and there is a high enough chance to see a retest of the lower levels. CAPITALCOM:DXY TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
FOREXCOM:XAUUSDShort
by RLinda
11
BITCOIN → Consolidation after rally characterizes the uptrend ↑BINANCE:BTCUSD updates the high to 53K and goes into consolidation. A flat 52500 - 50500 is formed after a strong rally, which is a strong enough signal of a confident market. Interest in the asset continues to grow and on the back of distribution, the price updates the December 2021 high after exiting the consolidation in early February. Both technically and fundamentally, the BTC is doing quite confidently. The next milestone, which is very important for the market, is the halving, which is expected in early April. There is a high probability that the price may test strong support zones before the halving, but there are no clear technical signals for this yet. At the moment the price is in consolidation between 52525 and 50649. Another support retest in the form of a false breakout is formed and the price is consolidating again. There are still no clear reasons for a support breakout. It is necessary to continue watching the price on H1. Regarding the current situation, I would single out two possible scenarios for buying. Scenario 1. High chance of realization. A pullback from the support is formed. Now it is important to wait for resistance retest. Slow price approach to the level and formation of compression or pre-breakout consolidation relative to 52545 will be a strong signal for the breakout. Scenario 2. As consolidation is forming, the market maker may extend the range from the current range to the support: 48435. The price should not go below 48K as this level is a strong support area. A breakout of 50649 and 50333 could fororimize an impulse (liquidation) to the lower level, which could be a range support. But a retest or false breakout will form an increase in liquidity, which will give the opportunity to form an impulse with the aim of breaking through the resistance 52545 and realize further growth. Resistance levels: 52545 Support levels: 50649 & 50333 While the consolidation stage is forming, the market maker can use any opportunities to accumulate liquidity. It can be a false breakout, shakeouts or liquidation in order to reach deeper levels. The important thing is to wait for the right reaction, which will be a prerequisite for a breakout or false breakdown that will give the opportunity to open a trade at the best price. INDEX:BTCUSD CME:BTC1! CRYPTOCAP:TOTAL Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
46
🇪🇺 EURCAD 🇨🇦 - Retest of resistance before further declineThe currency is purposefully moving towards the resistance at 1.4728, which plays the role of the upper boundary of the flat. Accordingly, the global trend is downward and the resistance area in this context plays a key role before further decline. Reasons for further decline: 1) Counter-trend correction 2) Liquidity and resistance areas at 1.4728 are strong enough for a breakout 3) Flat from the upper boundary of 1.47200 may push the price downwards 4) There are no fundamental reasons for the euro to rise
Short
by AndeWave
1
HelenP. I Bitcoin can reach $60000 points and then start fallHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price some time ago started to trades in consolidation, where firstly it declined to support 2, which coincided with the bottom part of the flat and support zone. After this, the price turned around and in a short time rose to the top part of the consolidation, after which it rebounded and made a strong impulse down to the trend line, which is located lower support zone. But soon, BTC entered back to consolidation, making a fake breakout of support 2, and continued to grow near the trend line to the top part of the range. Later, after the price reached the top part, it exited from consolidation and continued to move up to support 1, which coincided with one more support zone. But when BTC reached this level, it rebounded and some time traded near, after which it declined to the trend line and then made strong impulse up to 59000 points, thereby breaking support 1. So, at the moment, I expect that Bitcoin will reach the 60000 level, after which it turn around and make a correction movement. For my mind, BTC can decline to 56000 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
2
RLC - An Unconventional Trade Opportunity - For Brave-hearted #RLCUSDT Analysis Description --------------------------------------------------------------- + RLC is presently consolidating near the resistance zone, displaying a consolidation pattern akin to its previous two consolidations. + Although this pattern may seem unconventional for trading, I maintain optimism regarding RLC's potential to adhere to this pattern and progress towards the next target. + Should this pattern persist, I intend to enter a long trade with a target set around 5.762. + Consider following this trade if you're willing to assume some risk in pursuit of substantial profits. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 3.870 Stop Loss: 3.383 ------------------------------ Target 1: 4.191 Target 2: 4.490 Target 3: 4.996 Target 4: 5.762 ------------------------------ Timeframe: 1D Capital: 1-2% of trading capital Leverage: 5-15x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
SC - Driving towards support | +310% Profit Target#SC/USDT Analysis Description --------------------------------------------------------------- + SC is currently moving towards the support line, if the it goes in this direction i'm expecting a nice double top pattern which is more bearish for SC. + I'm expecting this trend to continue and hit the next support before consolidating. + I'm not waiting for double top instead trading while double top is forming. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.012568 Stop Loss: 0.014570 ------------------------------ Targets 1: 0.01186 Targets 2: 0.01104 Targets 3:0.009839 Targets 4: 0.008537 ------------------------------ Timeframe: 1D Trade Type: Short Capital: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Agree or Disagree with the ideas ? lets discuss in the comments. Like and follow us for more ideas. Regards VectorAlgo
Long
by VectorAlgo
GOLD → New reasons for the growing interest in goldFOREXCOM:XAUUSD strengthened last week and closed with +1.2% at 2035.375. Price returns to the flat range that is forming within the uptrend. Let's move a bit away from the local situation and take a look at the global chart. The global uptrend with variable trends indicates a rather huge interest from buyers, which is not subsiding. The pressure on the resistance, which restrains the growth beyond 2100 continues to increase and most likely in the medium term there will be continued attempts to break through 2075 - 2100 and further strengthening towards 2300-2500. As for the range. The market continues to form a global flat on the background of the Fed's tough policy. Buyers are holding back all attempts to fall, which bears are trying to forge on the background of negative news for gold. Let's pay attention to Friday, February 23: Gold receives an unexpected inflow of funds due to the sanctions imposed by the U.S., Canada, the UK and European countries against Russia, the former CIS countries and Asian countries. Against the backdrop of a possible crisis, money is looking for a safe haven and is finding it in gold. Accordingly, the interest to the metal is growing and most likely the price will continue its growth to higher highs. Expectations for the coming week: Flat is forming on D1, after realizing the potential relative to the range support the market gets a target in the form of flat resistance. Important levels are shown on the screenshots above. Fundamentally, the gold market is still under the pressure of sellers, but at the same time the interest in the metal, against the background of geopolitical crisis is growing, which favorably affects the price. In the medium term it is worth considering to prioritize buying, because technically and fundamentally the situation has shifted a bit, but we should not forget that there are no trend rules inside the flat. Price is moving between levels. Resistance levels: 2044.6, 2060, 2065.46 Support levels: Fibo: 0.618, 0.5, 0.382 TVC:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSD
by RLinda
15
HelenP. I Bitcoin will rebound from trend line and continue growHi folks today I'm prepared for you Bitcoin analytics. Some days ago price rebounded from the trend line and rose to the support zone, which coincided with the 50650 support level, but at once BTC rebounded and made little correction. After correction, the price rose back to the support zone, and in a short time, BTC broke the 50650 support level and rose until to the resistance level, which coincided with the resistance zone, and also price started to trades inside consolidation. In consolidation, the price rebounded from the resistance level and declined to the support level, but soon it bounced and rose back to the 52800 level. After this movement, BTC turned around and started to decline to the support level, which coincided with the trend line, where recently it rebounded and started to grow. At the moment price continues to rise near this level in consolidation, so I expect that Bitcoin will correct to the trend line, after which it will rebound and continue to move up in consolidation. That's why I set my target at 52300 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
2
CHEF a consumer discretionary stock to relish LONGCHEF on a 4H chart has been trending up since earnings in November. The report last week was improved over November's. I got this one January and uploaded an idea then. CHEF has ran 25% since then. The bot alert is signaling SELL. RSI is at 64 and not yet overbought on a period of 14. The mass index is signaling a reversal down at it went over the threshold and then triggered. I see CHEF ans a good stock that did 25% on the shares and 150% on the options since my buy. I will sell the full position here. I will wait for a period of consolidation and Bollinger Band tightening and a flat Supertrend line to make a sizeable new entry.
NASDAQ:CHEF
by AwesomeAvani
EURUSD → Pre-break consolidation. What could happen?FX:EURUSD may try to break resistance and there are several prerequisites for this from a technical analysis point of view. The dollar index is trading quietly today as the US celebrates the President's Day. Volatility may be low, but there are preconditions on the chart that prepare the index to decline and the euro to rise. Index: price continues to tighten to support after a shakeout (long candle shadow) was formed. EURUSD relative to the channel resistance on H1 and 1.0785 level is forming a pre-breakdown consolidation after a pullback from the range support. The currency pair is testing a resistance breakout attempt and price consolidation above 1.07850 will form the potential for bullish distribution. Resistance levels: 1.0830, MA-200, 1.0887 Support levels: 1.0785, MA-50 I expect to see an attempt to break the trend resistance, with a high probability it can be successful, but this chance is not 100% percent. Consolidation above the above mentioned area may give us a chance Regards R. Linda!
Long
by RLinda
4
LDO/USDT - A token worth monitoring and trading--------------------------------------------------------------- Description --------------------------------------------------------------- + LDO is consolidating in the support zone and this is a good thing for bouncing back + This consolidation zone is also acting as a support for the LDO + Once it bounce back we can expect it to reach next resistance. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 3.324 Stop Loss: 3.025 ------------------------------ Targets 1: 3.451 Targets 2: 3.556 Targets 3: 3.794 Targets 4: 4.037 ------------------------------ Timeframe: 4H Capital: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Agree or Disagree with the ideas ? lets discuss in the comments. Like and follow us for more ideas. Regards VectorAlgo
Long
by VectorAlgo
Middle Road for UCADHere we have USD/CAD on the Daily Chart! Down on the 4Hr Chart, Price is Bouncing-Up off of the Rising Trendline I have on the chart but with each bounce, buyers seem to be losing strength! Zoom out to the Daily Chart, it looks like UCAD is in a bigger scale Consolidation with price right in the Middle Road! My bias on this pair is Bearish given that we are seeing a Slight Divergence in the RSI with our Peaks falling lower and our Dips dropping further pushing a Bearish Narrative. Oil has been on the rise and that also has me siding with CAD seeing as how Canada is the 4th Largest Producer of oil globally and if prices of Oil keep rising, we can expect UCAD to keep moving lower! If we can get a Valid Break and Close of this Rising Trendline, I believe we will see price break down through the Local Support to test the Lower Support Level. Fundamentally this week: USD - CPI (Tue) Retail Sales, Unemployment, Empire State Manu. Index (Thu), PPI (Fri) CAD - Clear
Short
by Novi_Fibonacci
The Sky's the Limit for MicrosoftNASDAQ:MSFT Microsoft (MSFT) Has been consolidating for the past month and has broken through to the upside. Anticipate this bullish momentum to bring new all time highs for the tech titan! Let's dive into the key factors that make Microsoft a compelling investment opportunity. Cloud Services: Microsoft Azure is a leading cloud platform, competing head-to-head with Amazon Web Services (AWS) and Google Cloud. As more businesses move their operations to the cloud, Microsoft is well-positioned to capitalize on this trend. The company's cloud services are expected to drive substantial revenue growth in the future. Artificial Intelligence: Microsoft has been making significant investments in AI, with its AI-powered products like Cortana, Bing, and Office 365. The company's recent acquisition of Nuance Communications further strengthens its position in the AI space. The potential for AI to revolutionize various industries makes Microsoft's focus on this area a key growth driver. Gaming and Entertainment: Microsoft's Xbox gaming console and Game Pass subscription service have been gaining popularity among gamers. The company's acquisition of ZeniMax Media, the parent company of Bethesda Softworks, further bolsters its gaming portfolio. As the gaming industry continues to expand, Microsoft is well-positioned to benefit from this growth. Strong Financials: Microsoft boasts a robust balance sheet with a healthy cash flow and a strong history of dividend growth. The company's financial strength provides a solid foundation for future growth and allows it to invest in new technologies and acquisitions. Valuation: While Microsoft's stock price has experienced a significant run-up in recent months, many analysts believe that there is still room for growth. The company's strong fundamentals and growth prospects make it an attractive investment opportunity, even at current valuation levels.
NASDAQ:MSFTLong
by EgideSimba
WAVES/USDT - Cool as cucumber | Dump and Pump #WAVES/USDT Analysis Description --------------------------------------------------------------- + After gradual crash over the month, we are seeing a decent bounce back in the price + If this bounce back is really a next leg of the long trend then we are looking the price to reach next major resistance + If the bull trend we have multiple minor resistances and those resistances can be broken very easily if the trend is strong + Lets see how the price reacts and enter the trade only after the confirmed breakout --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 2.357 Stop Loss: 2.014 ------------------------------ Targets 1: 2.430 Targets 2: 2.550 Targets 3: 2.750 Targets 4: 2.900 Targets 5: 3.075 Targets 6: 3.220 ------------------------------ Timeframe: 4H Capital: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Agree or Disagree with the ideas ? lets discuss in the comments. Like and follow us for more ideas. Regards VectorAlgo
WLong
by VectorAlgo
HelenP. I Euro will turn around and start fall to support zoneHi folks today I'm prepared for you Euro analytics. A not long time ago price declined to the 1.0895 resistance level, which coincided with the resistance zone and soon broke this level. Price declined to the trend line, after which EUR rebounded up to the 1.0895 resistance level and started to trades near this level, but some time later it rebounded from this level and fell to the trend line. Then Euro rebounded from this line and rose to the resistance level, but the price didn't break this level and in a short time declined to the support level, which coincided with the support zone, breaking the trend line and entered to consolidation. Soon, the price bounced from the support level and rose to the top part of the consolidation, after which the EUR turned around and declined to the trend line, breaking the 1.0735 level, but recently, the Euro rebounded from this line and soon rose back. Just now, the price trades near the 1.0735 level and I expect that the Euro will rise to top part of the consolidation and then start to decline to the support zone. That's why I set my target at the 1.0710 level, which is located in this zone. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
1
GBPUSD → Weak pound on negative fundamental backdrop FX:GBPUSD is finally coming out of a long consolidation. Tuesday's news determines the medium-term prospects for the market, and most likely the decline will continue. The target at the moment is 1.25000 - liquidity area and also an important psychological level. The bullish correction is coming to an end and the price is back in the bearish phase. After the inflation report, the markets are now betting that the Fed may start the interest rate cut phase in the summer. The forex market is plunging into the red corridor on the back of a rising TVC:DXY . The currency pair will technically reach 1.2500 in the near term and a correction may follow after a false breakdown. Resistance levels: 1.2615, 1.2650 Support levels: 1.2520, 1.2500 A break of consolidation support opens a bearish trend. Negative fundamental background will favor it. The nearest target is 1.25, further correction may follow before the subsequent fall to 1.2380. Regards R. Linda!
Short
by RLinda
4
BTCs Thrid Attempt, Will It Fail Again At Resistance Or Succeed?_______________________________________________________________________________________________________________________________________________________________________ Hello My Dear Traders Investors and Community, today this is an important chart because we are facing a difficult situation in BTCUSD. The BTCUSD mid-to-long-term-chart is full of contrary signals at the moment, as I already mentioned in past analysis, on a mid-to-long-term-perspective we are still in an overall consolidation phase because BTCUSD is trading in a big triangle if you didn't saw these analyses I recommend that you check these out when going on my account and look on the past BTCUSDs charts! Okay, let's look at the chart. As you can see when zooming in, BTCUSD bounced at the support just as I forecasted, you can see the support marked with the orange box, the support is between 5770 and 5900 now what is important is that we have still plenty of resistance above us, there is the smaller falling red resistance line on the short-term-perspective and the huge falling resistance line on the mid-to-long-term-perspective (Which also builds the upper-line of the triangle we are trading in). As we are approaching the third time the red-falling-trend-line now I am expecting a pull-back in this region, consolidation is also possible, just similarly as seen with the second attempt to break the resistance. Remember that this is a really strong resistance which brought BTCUSD almost - 58.7 % down, together with the 135-EMA there is a strong resistance-confluence-zone which should be ignored. Now the good news is that when we break these important and strong resistance levels it is a good bullish signal which can be considered for a bullish continuation to the upside. When it breaks it has to confirm fully and the 135-EMA and resistance line should be clearly broken with minimum more than 10 % to the upside, otherwise, it could be still a failure, that sometimes happens when the breakout confirms slowly but not for 100 % and the trend snaps back again in the other direction, it can also be described as a bull-trap. In this manner, there could be still a possibility for a bull continuation although BTCUSD printed only bearish signs in the last-time not to mention the heavy bearish decline which brought BTCUSD from 9200 to 3900, but when the resistance confirms we have still the 38.2% retracement above us and the strong falling red-resistance line which have to be taken out for a full bullish scenario on the mid-to-long-term-perspective. _______________________________________________________________________________________________________________________________________________________________________ The amount of good luck coming your way depends on your willingness to act. Feel free to support for more valuable insight, thanks for your support, my friends! ;) FAREWELL Information is only educational and should not used to be for taking action in the markets. _______________________________________________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSD
by VincePrince
13
ETHUSD - Road to success__________________________________________________________________________________________________________________________________________________________________ Hello, my dear traders investors and community, as the whole stock market as well as the crypto market is panicking because of volatility that hasn't been seen since years it is important to look on the opportunities such volatility can bring us and don't get over panicky. This analysis is for the middle to long-term showing the possible opportunities ethereum can provide to us. On the daily view, I detected some interesting signs which are worth to look at! __________________________________________________________________________________________________________________________________________________________________ Ethereum provided us a big wide range in which it is trading all over 2019 till now, you can see the range market with the dashed red trend-lines on the bottom and top of the range and also with the turquoise double-arrow seen in my chart. The bottom of the range is very important as it holds the whole structure intact. When this bottom gets crossed bearishly down I don't see much of a continuation of the up-trend! But as for now, it seems like the price is stabilizing above the bottom of the range. __________________________________________________________________________________________________________________________________________________________________ The last days we saw a huge volatile break-down because of the corona fears, it must be said that this was a panic reaction of the markets! There is a possibility to see a stabilization in price. __________________________________________________________________________________________________________________________________________________________________ RSI: The RSI touched a first time the level of 22.5 before providing us a healthy up-trend. Now we see exactly the same valley in the RSI as you can see marked with the green and orange circles in my chart! __________________________________________________________________________________________________________________________________________________________________ Bear-Trap: Ethereum fell down and made the low at 88.20 USD which provided an immediate pull-back to the break-down level at 135. This could be the beginning of a new trend otherwise it can fall still more and continue __________________________________________________________________________________________________________________________________________________________________ 61.8 % Retracement: The 61.8 % Retracement in this structure is very very very important! Because it is also marking the last point before the huge bear-move down happened! It is the last neutral point in this structure. When a decent uptrend develops I see the next resistance at this level as you can see marked in my chart! __________________________________________________________________________________________________________________________________________________________________ Otherwise, there is still a possibility tofall to lower levels, I won't underline the bullish scenario 100% for sure, but for now, they're coming to some bullish signs which shouldn't be ignored. Also, it is important in such volatile times to wait for a confirmation of the developing trend. Wise traders always wait for confirmation in the markets. __________________________________________________________________________________________________________________________________________________________________ Thanks for watching! Feel free to leave a like and follow for more market insights! All the best! Information provided is only educational and should not be used to take action in the markets. __________________________________________________________________________________________________________________________________________________________________
BITSTAMP:ETHUSDLong
by VincePrince
25
Huge Symmetrical Triangle will determine Bitcoin Future Outcome!__________________________________________________________________________________________________________________________________________________________________ Hello traders investors and community. We live in volatile times today! As the news is spreading the coronavirus fears and national emergencys called in many countries of the world we see rumors facing all important financial markets including the cryptocurrency market and the biggest cryptocurrency of all, bitcoin! We saw BTCUSD breaking down several support levels as it formed a major low at 3850 after a heavy downfall making more than minus 50 % in just one day. Today I discuss with you the important price pattern I detected observing the bitcoin chart and the heavy outcome BTCUSD will show us in future! __________________________________________________________________________________________________________________________________________________________________ When looking at my chart you can see this huge historical triangle forming after the major high was seen in 2017, as looking objectively on the triangle we can say that we are still trading in a consolidation phase considering the long-term approach. The symmetrical triangle will break either in the bullish or bearish direction with a heavy outcome, the longer we are trading in the triangle the heavier the outcome will be, so at this point, we need to wait and look for more bearish or bullish signs to confirm the definite outcome of the triangle. __________________________________________________________________________________________________________________________________________________________________ Sell-Off: __________________________________________________________________________________________________________________________________________________________________ Local Support/Resistance: __________________________________________________________________________________________________________________________________________________________________ Considering the next days and weeks I am expecting up-moves to higher levels at least to recent support/resistance levels between 6460 and 6900, after this a test of the upper triangle line as seen in my chart is highly likely. Either of the two targets marked in dark red will be reached when the triangle confirmed in the bullish or bearish direction. I know many of you want to believe in the crypto bull market but at the current point there also has to be considered the bearish scenario as also the major stocks and world economy showing bearish signs we are facing a possible recession the next months and years, therefore the bearish scenario has to be considered and taken seriously. __________________________________________________________________________________________________________________________________________________________________ Thanks for watching, I hope everybody found this analysis useful. For more market insight feel free to support my work with a like and follow. I wish everybody of your good days and a nice weekend! “It is the job of the market to turn the base material of our emotions into gold.” In this manner have a good weekend my friends! __________________________________________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSD
by VincePrince
40
Be aware of this hidden Fractal-Similarity between BTC and Gold!__________________________________________________________________________________________________________________________________________________________________ Hello traders investors and community, today I share with you an amazing observation which I found in the bitcoin and gold chart. As many people know when we talk about digital gold we bring bitcoin in the conversation, similarly to the physical gold the supply is limited and the production is similar, the difference to the physical gold is that the production and supply of bitcoin is 100 % digital. __________________________________________________________________________________________________________________________________________________________________ When I compared the charts to one another I figured out that there is not the only similarity in production and supply but also in the chart picture! Looking at the physical gold chart the overall structure can be divided into four phases. You can see these phases marked in the charts. There is also the big descending wedge in gold which already confirmed the same way in bitcoin. Phase 1: Correction: Gold provided a significant correction from 1900 to 1050 before it formed the ongoing uptrend, this fractal can also be divided into a Wyckoff accumulation phase. When looking at the bitcoin correction phase we see an unbelievable similarity with the physical gold chart, as it formed the exact same correction fractal which can be divided in a Wyckoff Cycle. Phase 2: First Uptrend: The first uptrend in gold is important because it brought gold from 1050 to 1350 in a massive up-trend wave before the consolidation set in, we saw the same dynamic in the bitcoin chart as you can see when looking at my chart. Phase 3: Consolidation before Breakout: When looking at the consolidation phase of gold I saw that there is a significant wedge formation before a massive breakout happened, you can see the breakout marked in the chart with the red Ellipse. Like a correction in bitcoin the next weeks is the most probable scenario we can expect a similar wedge pattern before a breakout. Phase 4: Second Uptrend: The second uptrend with gold is developing right now, this is the point where bitcoin is still in the correction phase, but the setup is highly probable as there are so many similarities in the charts we can expect bitcoin entering the breakout and phase 4 symmetrical to gold. The only difference is that the charts diverge in time. __________________________________________________________________________________________________________________________________________________________________ Soo my friends, this should be a good overall overview of the physical gold and digital gold compared to one another. ;) Please like and follow my work for more market insight. All the best and good trading profits my friends! __________________________________________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSDLong
by VincePrince
33