Crossroad
SOLUSDT at a crossroadsWill it follow the general downtrend or break it and explode to the upside? The answer in the coming days. It is not financial advice. Be careful.
Short-term moment of truth for BTCIt looks like a short-term "moment of truth" is happening right now for bitcoin as it starts to approach the "channel cross" of which I mentioned in previous writings.
One option looks like the price is hitting the top of the descending channel (dashed red lines) and it is then going to continue downward between 54.5K and 57K (a break near 57.5K would be better confirmation).
Another option is that the price will head to 60K, staying in the ascending channel (dashed blue lines), and either continuing upward in the channel up to near the ATH (or beyond) or be rejected at 60K, which is the current neckline (dashed yellow line) of what looks like an inverse head and shoulders pattern starting.
The pattern that looks the most appealing in my opinion would be a dip to form a more solidified inverse head and shoulders pattern, but with other ALTs breaking out, it is quite possible that a breakout could occur from here as well.
It should be interesting to see where BTC goes from here as this looks to be right around the crossroads for a short-term direction. If you see anything indicating a more solidified direction, please leave a note in the comments as I would love to hear what you think.
Critical position for BitcoinI feel like we are coming to a critical position where we need bitcoin to bounce off support to go long to around 18900 or breakdown and go lower to 17300
Critical CrossroadsWhat a rodeo it has been for BTC as we enter the new year. Complete opposite of 2019 start which had us at ~3700. Is this a repeat of 2015 & 2016? Time will tell as we progress in this new year.
Over a week ago, we successfully broke through the mid-term downtrend to establish a quite a steep short-term uptrend . That uptrend is now broken and we are in an unconfirmed, steep downtrend which could try to push us further down.
Both the shallower uptrends remain unbroken with the mid-term uptrend being unconfirmed.
There is a good possibility of touching the previous broken downtrend to bounce off it as we approach the critical crossroads where the trend intersect with the LT (long-term) uptrend and the support line @ 7411.
Indicators
We are still in a valid uptrend as seen from the DI+ being above the DI- in the DMI indicator.
RSI (not shown) remains rather bullish still despite the most recent push down. Likely to bounce soon in the ~8250 zone.
Stoch RSI (again, not shown), looks to be leveling out and could turn in the next 2-3 days. This is not indication of an uptrend by itself but shows promise when looking at other indicators.
ATR : Any extreme moves beyond the current average should be taken with great scrutiny. So far, we are within range but an extreme swing down could lead to some ranging as we try to return to mean.
Prediction
My forecast for the upcoming week is mostly bullish due to the fact that we are faced with a steep trend down which are never long lived. It could still trace downwards for a little while long but I can see a swing back up in the next few days based on the indicators currently.
Any crossovers of the indicators to bearish should be taken as a warning foreshadowing that the bears are ready to make a move. Breaking the LT uptrend is also dire warning to the downtrend to come weeks after it crosses and maintains past it.
If we continue up, a shallower uptrend will be beginning to form which could direct us further up. I just don't see a -51°trend as remaining for much longer.
Good luck and happy trading. Remember, the trend is your friend and your enemy if you make it to be.
crossroads or one-way movement ?RLCUSD in price compression with decrease in volumes. it now floats above the negative trend line but remains at a level where there is resistance. in the RLCBTC chart one can notice an upward break of the resistance and the ascent after the abc correction. The BTCUSD chart seems to want to break up the built compression triangle ... the area is delicate but probably upward, act with caution.
S&P 500: At the crossroads between a bull and bear marketThe next weeks remain crucial for the "S&P 500" for the trend decision between starting a bear market or continuing the aging old bull market. The current trend bias as of this Thursday seems to favor the bulls, but the bears could start to attack as soon again. I hereby stay neutral and show two different paths where the market could move next from the upcoming decision point.
I remain short from 2712.5 and long from 2580 until one of these two positions cancels out the other.
Big picture trend channel overview:
At the crossroadI have no open trade right now. I stay at the sideline. The price of Bitcoin still has no direction. While I expected after breaking the 10128 support level two days ago that the down movement will get more momentum, the opposite was true. Will BTCUSD follow the blue curve? Will there be an outbreak on the upper side of the channel in a few days?
Will BTCUSD break the blue curve and continue its slow descent to 5511?
The Pivot Point system reflects this undecided scenario as support and resistance levels are close together. Pivot Point is at 9568.
The Big PictureIn this chart, we can see the red dashed channel resistance line CR and the green dashed channel support line CS. The steep green dotted line was a support until Wednesday, when it was crossed and turned into a resistance line.
How will the price of Bitcoin further develop? Will the uptrend continue and the price climb towards 25000? Will the old downtrend take over and let the price of Bitcoin fall towards 5511?
Bitcoin is on an important crossroad.Good Morning!
A new day, a new Pivot Point system. BTCUSD is on a crucial crossroad (B???). Today, the decision is up about the end of the major downtrend.
Pivot Point is 8163. Below the Pivot point , there is a bearish scenario, above a bullish one. Fluctuating around Pivot point means an undecided scenario and a sideways movement.
If the price of Bitcoin has enough upwards momentum, it might cross the brown dashed trendline (B???). If it can break that trendline sustainably, the major downtrend ends. WARNING: Crossing that trendline could be a bull trap. Wait with investing into Bitcoin until you are sure about the sustainability of the new trend. A new trend can be either a new uptrend or a sideways trend.
Pro Bullish Facts:
- For the first time since December 17, 2017, a down move did not reach its target (A). This down move just had not enough momentum.
- The current price of Bitcoin is above the Pivot Point. This is a bullish scenario.
Pro Bearish Facts:
- The resistance R1 and the brown dashed trendline are close together. It will not be easy to cross this double resistance.
- The major downtrend did not yet reach its target. The target is 2403.
I expect a heavy battle between bulls and bears at this extremely important level. If BTCUSD remains below the brown dashed trendline, the major downtrend will take over again and the next targets will be 7040 and 5511.
USDJPY on a crossroad; weekly chart.the This is a weekly chart back to 1995. As we can see, since 2012, the swings are getting smaller and smaller. This year, USDJPY is on a crossroad.
Will USDJPY go up or down? It is very likely that it continues sideways after breaking the lower trend line of the triangle, as it fluctuates around the 112.55 level. When trading this currency pair, we have to be prepared for the unforeseen as this situation can hide away some surprises. It is possible that USDJPY will start into a new area with a completly diffrent behaviour.
Bitcoin on an important crossraodThe yesterday’s scenario continues. Bulls and Bears are still involved in a battle. In the above chart, we see three green dashed lines. They mark the middle term downtrend. BTCUSD is testing the upper green channel line right now.
The lower side of the violet triangle is the Pivot point at 11067. What is the Pivot Point?
The Pivot point is calculate based on the candle of the day before. It is the main support/resistance line of the day. Above the Pivot point, the scenario is bullish. Below the Pivot point, the scenario is bearish.
The important question is: Which line will be broken? The upper channel line of the Pivot point? Depending on the result, we will see a bullish or a bearish scenario for next days of even weeks.
Bitcoin at the crossroadBitcoin is at the crossroad. It is swinging around 14642 while the Stochastic indicator suggests that the long-term uptrend is still intact. As long as the Stochastic indicator is above the blue dotted trend line, we can assume a bullish scenario for BTCUSD. However, once that blue dotted trendline will be broken to the downside, a very bearish scenario will take over with a target of 5568 USD per Bitcoin. We know that the governments of the United States of America and of Bulgaria confiscated Bitcoins worth more than 3 billion US-Dollars. They probably want to sell them all. www.coindesk.com The price of the Bitcoin will mainly depend on how they flood the market with their confiscated Bitcoins during the next few months. I expect a high volatility and many good opportunities for buying cheap Bitcoins.
AUDNZD consolidatingThe price stopped the 4H downwards trend yesterday (sharp Aqua line) and started going up but is compressed between that and the short-term downwards trend (Aqua line on the top) .
This downwards trend might however come at a crossroads with the medium-term Weekly uptrend (Red line for the latest one and Orange line taken from a low before).
The horizontal blue line is both a former support/resistance and a short-term 4H Fibonacci level.
New bull market soon? Watch the trendline. We are very close to breaking the long-term trendline. We're either going to fail to make a new high and slowly churn downward again, or we're going start a long climb to bullish targets. Since we already have major baseline support below us, I'm leaning toward the latter If we start to see volume coming in here and the price moving steadily past that trendline, we're looking at a new bull market. This will be the first time this has happened since May and it will be big.
As always, though, wait for confirmation. A break of $246 will have me convinced. I've waffled a bit in the past, but my ideas right after the last low were calling this. Let's see if it plays out. I'm keeping this idea neutral because it could start to slog downward like it did the last time we met this trendline.
Donations welcome:
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Twin Pair of crossroads with historical resistance and patternsOver the last few months there have been several major crashes which are always followed by very strong rallies in compensation. None of these have managed to break the bear trend we have been in since the top. We are, right now, days away from a convergence of this trend with the overall log growth that started in early 2013, got touched with the Silk Road crash in October 2013 and the Chinese crash in April of 2014.
I made the assumption that the previous ATH of $266 will not be broken, so in all likelyhood we will continue bouncing down with decreasing volatility each time. Each crash is slightly less severe than the last by an alarmingly consistent -7%. This makes a very nice 45% drop from $548 in the next crash if we break the bear trend in the next 10-14 days which would follow the pattern we have been in. The rebound shown is completely arbitrary, it will depend on where the bearish trend is when the price is headed back up into a bull trap. From there, I expect the price to re-test $266 once, maybe twice, while getting squeezed into another crossroads late this summer before following a much shallower log growth.
On the flip side, if we manage to break out higher in the next 10-14 days, there is a clear shot to AT LEAST $548 and most likely ~$700.
Highly speculative, so lets see what happens!
INOvio in a good position to go higher up, but in a lock atmThere is an interesting lock the stock is in now. It is in-between several key lines and the following days could tell the short-term future of the stock. for now it has been keeping itself on top of 2.50 as it is a key level.
Several points lead to a higher position from here.
- Major point: DMI, MACD, RSI, Stoch and Acc/Dist show potential up side from these levels, though it may dip lower before that as MACD, Dist, and Rsi have some room to dip to the lowest part of the range
- The price bounced a bit from an area that is within the lowest range of the up-trending channel .
- Wave counting gives a hint that it is either in the last wave still or ready to change the trend and get into a new wave count, with first one leading higher.
- Price bounced off a strong support level several times in all the past sessions
- Price seems to keep within the 150 DMA
There are several indicators of a possibility of going lower:
- The recent trading volume is weak, indicating not enough steam to push it through the recent down trend
- A series of lower highs within the day view coupled with the first negative point shows the mood is for going lower.
- Dipping lower 200 DMA may lead to a spill, next resistance at ~2.00
- Given the low volume, it is more probably the price will go down to 2.00 and decide its further action from there. It will still be attractive up to earnings at the price between 2-2.50
