Counter Bearish Market still a little bit Bearish, but it is taking too much time to go down, so I have spotted another bullish pattern so even if you thing everything is going down take this chart as something to monitor just in case it is all a bear trap.
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Fibcircle
Bullish pattern for mid-term tradersOk guys, market is very hard to spot something going on. This is the only one near perfect pattern I could find for now, may not feel reasonable such a explosive bullish run but it is all I got for you. For this to happen the MA50 need's to be crossed to trigger the bullish run and also break the current bearish setup it may look like market is going to.
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Support to look forMarket is a bit weird right now, trying to find a pattern for a while as bullish curves was a little bit hard to spot. This one is a bearish curve holding the support bull don't wanna break and bears will love to break. So pick your side and keep monitoring this curve. There is no target right now, just use some trailing stop and whatever you like to control your risk management.
Double bottomLet's see how this unfold, if I get enough support I will continue with low TF analysis for daytrades / short-term trades.
So if you want me to continue with this show some support with likes, sharing, comments so I keep going.
The analysis is a mix of circle fib, extended fib, extended time fib, putting 3 fibs together is really challenging so I hope be up to this challenge and hope you guys keep me going on.
Cardano short term for day tradersI am back with BTC cross ALTs analysis and also back with the tool fibonacci time. Fibonacci time is something on my toolbox I usually got around 50% accuracy last year, I will to improve it for next year together with mighty fibonacci circle and the all important standard fibonacci together. The idea here is try to filter out fibcircle harmonics which should not be the main one, as this year the main problem was several fibcircle harmonics hidding the main one which are only sorted by risk management but even mid harmonic provide us with sweet spots where risk return is very high so with trailing stop you handle the market even without a magic ball and this is all about what we want, gaining more than losing and have a positive net profit without any future prediction at all.
There is two possible circles here, one for each green flag, but I have not displayed the second one in order for the chart to be clean.
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Margin Market continuation IIThis is a perpetual continuation of Margin Market Analysis where I am using WIP experimental circle fibs analysis retrofitted here.
We already got our Year's Lowest Low, following by a second wave and now we are heading to a return to MA on 3rd wave while Spot market got to our 3.1K Bear target and should start it's first wave now. So they look for first time in a while aligned in a bullish run.
No target here, just an expectation for it have some pit stop on the MA50.
NBEV Short play, 6.95 to 5.7 area. Fibs, sup/res, even circlesI might lose a few people on this, but I'm running an experiment to show that there is definitely something weirdly accurate specifically about the "timing of swings/big moves" when using Fib Circles if you use them correctly. Area's of interest I color-coded in TEAL or PINK. You can see this circle was simply drawn from a major low to a major high on a high timeframe. Right as we reach the .382 retracement level on the Fib retracement tool, we're also overbought and hitting a Fib circle level.
This is experimental, (I get backlash whenever I suggest there can be ANYTHING to be learned from uncommon fib tools), but I'm demonstrating how Fib Circles can be used. If I'm right there should be a big move up or down (10% or more, I'm betting down) within 1-2 candles max of crossing the current Fib circle level. Let's see what happens.
PerspectivesThere is several paths you can account to but this two look the mightiest from now on.
On the Bear side it could still go to 3.1K and to go there it might be soon and fast.
On the Bull side there is a very long but fully recovering path with a new ATH !
If you feel fear to miss the opportunity you can buy a little bit here and keep buying periodically even if it goes the Bear side, because you are looking on the middle term scenario to take profit only about next year. If you are already positioned you can still leverage a little bit and play with risk management.
It is up to you as always, choose your path and follow the strategy !
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Side Note: This chart is on BitStamp and I usually do charts on Bitfinex.
Back to "from ATH" analysisWhen was still April I set this bearish target of 5.2K you can see below on related ideas "Battle for 7.8K" and market make lots of swings and finally hit it and break it down immediately so I need to get back to the broader picture with circles coming from the ATH so after many many harmonics getting broken we can figure out where is this rabbit hole ending.
Looking from ATH with everything already behind the nearest close target is on 1.618 circle fib, the bigger blue one.
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Yet another supportMarket got pretty hard with so many harmonics and plot every single harmonic on same chart is not practical. Now we are back to daily timeframe as all other inner TF got their support broken down.
Is there a chance to go further down ?
Well there is always a chance both ways, look this other harmonic below:
If you like my charts show some sort of support so I continue posting, there is currently too few likes
Next harmonicOur support in green is looking set to break down, at the time I am publishing this it is above so this chart is the next harmonic just in case it happens. Since market is filled with several harmonics is very hard to get the main and mighty one.
For those following me for a long time, you already know, the support is always the 1.618 circle fib, the blue big one !
If you like my charts please show some sort of support so I continue publishing.
Support to look forWith a double bottom both at Circle fibs and Margin market, still spot didn't cross the 4H MA, by crossing it, rocket will fly ! On the other side there is a very close support to look for as market could still go another trap !
Circle green dashed curve is the support to monitor, with MA also on chart !
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Bitcoin BTC possible scenarios - Fib Circles updatedPreface: I know some may not understand where do those circles come from... But if you look at my previous works they tend be accurate - keep reading. This is still a theory in the making 'tho.
I'll start with "classical" theory first, then I'll be talking about my own method.
If you like this analysis make sure to "like" - it helps :)
"Classic view":
i) 6350 support has been broken. If 6150-6200$ does not hold, then 6000$ should be a very strong support. (my other theory is that is can touch 5850 if it reaches 6000$).
ii) MACD is diverging like crazy towards the bottom. That is never a good sign
iii) 2.27% ) RSI is in BEAR territory with resistance levels at 36-40. Above this level we might see a stabilisation of the price.
iv) StochRSI is oversold. BUT, coupled with MACD + RSI bear signs, this is not a good sign.
v) ALL Moving Average lines are going dowwards with the continuous rejection of the MA200(3h) line at 6400$.
So yeah, all signs point to "down" ...
But how far down? When "moon" ?
Well, read on for my 2nd theory.
Basically, the theory is like this - We have 3 circles:
1) RED ONE that attracts the price upwards and has been rejected continuously in the past month as you can see on the bubble charts.
RED Circles are resistance if the price is moving upwards and support if the price is going down.
2) YELLOW ONE is the one that might move sideways and is short term.
Yellow is here to better see the movements between the two major circles.
It could also predict when a major move might happen, because of it's horizontal position that gives something like a "time resistance" on the X axis.
3) BLUE ONE is the one the pulls the price down at the moment - but also offers STRONG support at 5850-6000 area together with the RED one.
BLUE again gives support/resistance levels - but on different time frames than the RED circle.
Why I like this theory is because it allows me to see A LOT of possibilities AT ONCE and help me make a choice for that is suitable for me in the time frame that I'm trading.
The Green area is what I like to call "uncertainty area". Depending on the exit zone of the asset, new possibilities arise - hence the Purple drawn sticks.
For example at the moment of this publication I'm expecting a 6150$/6000$/5850$ touchdown. So I'm going to have orders at those levels (of course, the bulk of the orders being at 5850$ for maximum profit and lowest risk).
Afterwards, I shall wait and see if the support lines hold. If not - 5500$ is the worst possibility in the nearby future. BUT it has *a lot* of support until then. So I'm taking my chances.
And that's about it for today.
If you like this analysis make sure to "like" - it helps :)
Support Curve to monitorBack to wider timeframe the nearest stronger support is the dashed green curve. As market failed to break up and got inside triangulation again bears have a chance to strike back once this support is broke down. There is plenty of harmonics here, so the market could still continue sideways from harmonic to the next harmonic as it is doing for the past month.
Zoom in: