BTC - Triangle Pattern for a Day or Two - Then Flash CrashBTC - Triangle Pattern for a Day or Two - Then Flash Crash again.
Price will bounce between fib channel supports.
Flashcrash
Bitcoin Flash Crash, Can we expect another one?Last week, we had a major break out after Thanksgiving weekend. Bitcoin price reached $11,400. We then had a flash crash of 18% which brought us to $9,200 (and some exchanges had upper $8,000. The recovery was very quick, a matter of a few hours. Then a few days past and boom! ABOVE the ATH.
If history repeats itself, this breakout we just experienced yesterday and today, can we expect another 18% flash crash? If so, that would bring a buying opportunity at $10,500 to $10,900 range.
That's where I am placing my limit buy orders at. Since if a dip will come, it will be a very quick one.
Of course, with futures about to get released, its hard to know what will happen.
With ETHUSD Recent Woes, is LTCUSD Poised for a Breakout?...I think so. With ETHUSD getting rocked pretty hard yesterday with the GDAX Flash Crash, it would be safe to say some investors have pulled to the sidelines and are still licking their wounds. With that said, I could see ETHUSD retesting 350ish over the next or so and from their it gets dicey once again. This is why I'm currently looking at LTCUSD. Those recently kicked in the teeth by ETHUSD, may be looking to shift their capital elsewhere.
Taking a look at a 15min, 30min, Hourly and 4 Hour charts, they hall have bullish Squeezes. This is in conjunction with price coming towards the end of a Bullish Wedge. I'm looking for price to retest it's recent $50 high.
Jared
COINBASE: ETHUSD Charts Forever Useless w/ June 21 Data IncludedCoinBase:ETHUSD charts are now forever messed up because of the CoinBase/GDAX feed and the ETH "liquidity" / processing delays of today, June 21, that led to this event. I wonder how many ETH panic sellers CoinBase/GDAX screwed-over as Bids dried up or were pulled, and who was the genius who left a Good-til-Cancel Limit Buy Order at US$13 on GDAX, for what Quantity? CoinBase/GDAX themselves?
The ETH network has been unable to process the transactions timely and too many ICOs pricing in Ethereum. Those ICO recipients won't hold everything in ETH, if it isn't a stable store of value. This is undoubtedly part of the downward pressure on ETHUSD price. This liquidity issue will be bad and hurt ETH, it may help BTC, unless they hurt themselves by messing up the SegWit2x/UASF/BIP148/Miner-Vs-Ecosystem conflicts.
Diversify your holdings of Digital Assets is my recommendation if you are a HODLer or long term investor. If you are a Trader, welcome to truly "Free Markets". You are on your own. And IMO, no, Stops will not Protect you. It might have been Sell Stops that CRaShEd ETH down to $13, because CoinBase and the ETH Network couldn't keep up with the volume of transactions.
Edit to add news article link: Here is one article link: www.coindesk.com
GBP/USD Brexit UPDATE *Until Article 50 is Triggered*Good Morning, Afternoon and Evening Traders
A week later from my post "Sterling heading for 1.21 level?", the cable has yet again pushed into the very low levels after UK Prime Minister Theresa May stated last week that triggering article 50 would mean the UK not having access to the single market. This wasn't great news for the cable at all, and consequently pushed the cable into eyebrow raising levels, previously seen in the October flash crash.
What now?
1.21 appears to be the cables key support/resistance level, so that is most definitely a zone to look out for. The blue sloping trend-line has been broken, which I had mentioned If was broken would indicate further selling pressure into the 1.20 level. I am also looking for potentially a retest of the sloping support trend-line, as price action may have a short-term rally and then fall away back into the 1.20/1.19 level. I'm still remaining short in this market, and i will keep you all updated on any changes.
Any questions or additional thoughts you want to add, feel more than free to comment below! More updates coming soon, Ike Okeke.
MARKET SETTING UP FOR ANOTHER GBP FLASH CRASH???!!!GJ has began its fall, and there is a very large range to fulfill, the question is, what fundamental movement in the market will drive the plummet and to what extent? Many complex factors will fuel the move down, and it is imminent.
Gold Down toward Big Correctionlarge drop in gold flowing to risky assets during Friday indicates downward pressure on gold
RSI(14) forms hidden bearish divergence where CCI reach lower than -200 level. Only "Sell" position would worth reward-risk ratio but WAIT! for the pullback. ADX is lower but still more than 20, implying downward pressure on gold does not violate long-term upward momentum on gold. Gold could pullback to 1250 before accumulating power to reacharound 1175-1180 at 61.8% Fibonacci level in long-term
XAUUSD
Possibility to Short/Sell at: 1248-1252
Stop Loss: 1262-1265
Take Profit: 1175-1180
Flash Crash sends the price below 1.2 following this breakdownSince Brexit, GBPUSD was trading inside a weekly trading range between 1.29 and 1.34.
That trading range was broken earlier last week when Brexit fears crawled back into the markets.
The GBPUSD broke below 1.29 and for three days declined towards the 1.26 zone.
That violated last week's analysis that suggested that GBPUSD has chances to bounce to the top of the trading range.
On Thursday, all bulls where cleaned after a 700 pips flash crash that happened between the U.S and the Asian sessions
1.2 has been set as the bottom for GBPUSD
1.3 now turned to resistance and is the target zone for speculative bullish bets on the GBP.
Cable after the flash crashHi Traders,
As you probably know, last night on Asian session the $GBP got killed on thin markets condition which made the $GBPUSD drop 8% at one point in under 2 mins but than the market recovered and ended up with -1%. However, when a situation like this happens (which is not very often!) I jump to my monthly charts to give me the best and most importantly; the long picture of this market. By looking this $GBPUSD monthly chart we can see that with this flash crash the market touched a very important support around 1.1870 which worked as support between 1984 to 1985. Also, it was very close to the last fib level; 0.886%.
Keep in mind that most of the time when a market was to do a long term low/high, the market does a crazy reaction (in another words; does a very quick low/high) and than stabilize. So what I personally think; I think this flash crash low is very important and can be a major low in this market. However, I do not recommend you to start buying here right now! I suggest that you wait for more confirmation especially in the Daily chart. Be careful and always know your risk before you open a trade!
Thanks!
