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GBPJPY long term bearish downtrend continuation.Lets explore the possibility of a continued downtrend. we can see gbpjpy making lower lows as it drops further and further down....but will this continue? Lets explore the possibilities. (plz share your thoughts in the comments....it would be nice if we can start a debate :) There is bearish divergence since the start of this bullish move..... There is a strong resistance level which has not yet been broken and looks like price has rejected. Corona Virus in Britain not looking good ( could cause economic issues) Overall I don't think gbpjpy can continue pushing up any further But plz shae your ideas in the comments...lets decide together what the most likely scenario.
Short
by Dev5777
8
BTCUSD- the return of bulls or a dead cat bounce ?Hello, my fellow traders, On Thursday, April 2, BTC finally made a break out of the $6,900-$7,000 zone after moving above the ascending triangle on the daily chart. The coin peaked at $7,235, but in the later hours of trading, bulls lost momentum and were rejected while being forced to drop back to the upper (horizontal) side of the triangle, around $6,800. Bitcoin still managed to close with a 2.5 increase. In the early hours of trading on Friday, April 3, we are seeing BTCUSD trading above the resistance line, or near $6,930, so the current strategy remains the same as before - we definitely need a daily candle to close above the $6,900-$7,000 corridor in order to confirm a reverse to the upside. On the 1-hour chart, there was a period of sideways consolidation near the $6,800 line since yesterday evening, which resulted in a break to $6,900 in the early morning today. BTC is currently trading above all major slow and fast EMAs including 100-day and 200-day. The leading cryptocurrency ended the month of March with a 25 percent loss, which is truly bad speaking from a macro perspective. On the other hand, on both weekly and monthly timeframes, we see $7,000 as a remarkably important line on the way up. Next for bulls will be to fill the gap to $7,700. Weekly Monthly The 24-hour trading volumes increased from $30 billion on Monday morning up to $36 billion on Tuesday, then fell back to $30 billion on Wednesday, which perfectly matched the short-lived bull run. They started to pick up on Thursday and reached a week high at $50 billion on Friday morning. The RSI indicator is already seeing values above the buy zone on the 1h chart, but still, it is far away from the peak registered yesterday and on March 17 when we saw the coin peaking at $7,150-$7,250. Personally, I plan to add some positions here, but not too much as the bullish case on this setup is not from the book meaning that I'd rather expect to see the upward move first with a confirmation on the daily chart instead of trading sporadic impulses on the hourly.
BITSTAMP:BTCUSD
by FutureBlockchain
ETHUSD - are bears leading us to a trap ?The Ethereum Project token ETH registered a drop to $131, on the last day of the workweek, March 27 following the example of Bitcoin that suffered a major correction the same day. Buyers were still unable to initiate a move towards the important psychological level at $150 and bears were ready to exploit their weakness by making another attempt on the $120 line. The weekend started with a relatively calm session on Saturday. The ETH token continued to hover around $131. On Sunday, March 29, it made one step down and closed the week at $123 with 1.6 percent of price increase for the period. What we saw on Monday, March 30, was a perfect rebound from the lower end of the short-term uptrend channel. The ETH/USD pair added 7.3 percent to its value and once again moved above the fast 20-day EMA. In the early hours of trading on Tuesday, the leading altcoin is looking to extend its gains and climb up to $140. Only a break above $150, however, will allow us to finally speak about the return of bulls in the midterm. At this very moment, we are seeing some green on the chart, true, but on the other hand, we are still ranging in the $120 -$150 zone for 3 weeks already. Trading volumes remain stable and continue to hover around $8-$10 billion since Saturday. On the 1-h chart, we are already seeing a rising wedge formation with a combination of declining momentum.
BITSTAMP:ETHUSD
by FutureBlockchain
1
Altcoin market update + XRPUSDThe consolidated chart for the Top 10 biggest cryptocurrencies in terms of market capitalization (excluding BTC) shows us that the bear flag on the daily chart resulted in a drop to $530 where we found temporary support (actually a relatively stable horizontal S/R line). What we need here is for the price rebound from that level and surpass $610. As you can see on the chart, this level was a solid resistance in the past and it took some time before bulls break it after the last major drop registered on September 24, 2019. The total market cap for the leading altcoins remained almost flat for the seven-day period, loosing "just" $1.5 billion down to $63.1 at the time of writing. The Ripple company token XRP corrected its price to $0.172 on Friday, March 27 after buyers failed to capitalize on their previous attack of the $0.19 level, and were brought back down at the end of the session. The weekend of March 28-29 started with a similar move, but in the opposite direction and the “ripple” regained its position around $0.175. On Sunday, it experienced a hard drop to $0.162 and closed the seven-day period 10 percent higher. The XRP/USD pair opened the new trading period on Monday, March 30 by climbing up to $0.171. The coin is slowly but surely making its way up, step by step. A move in the zone above $0.18-$0.185 will set the ground for an attack of the $0.23. The $0.185 line is also coinciding with the Fibonacci retracement 23.60 line, which may serve as an endpoint. In terms of trading volumes, they dropped from $2.7 billion on Saturday to $1.7 on Sunday evening, which resulted in a 37 percent decline. We saw a partial recovery on Monday and Tuesday with the 24-h volumes hovering around $1.9 - $2.1 billion. Looking at the 1-h chart, no surprises as we are following the path down the very stable downtrend channel...
BITSTAMP:XRPUSD
by FutureBlockchain
4
Bitcoin BTCUSD - is a fall below $5,500 imminent ?Hi guys, I hope you had a good and sunny weekend no matter where you are right now. A little sun is sometimes more than enough to lift our spirit and make us feel better in these crazy days... Bitcoin, on the other hand, just cannot have a break - it continues to struggle to find its direction and neither bulls nor bears are ready to forfeit the game. The Friday session brought some serious troubles for bulls. BTC erased 5.6 percent of its value and dropped down to $6,383. The bear flag that was in the making since March 12 resulted in a heavy correction. The ever-declining volumes in combination with the stability of the $6,900-$7,000 resistance zone made it impossible for Bitcoin to progress further. The first day of the weekend came with a second consecutive red candle. BTC/USD lost even more ground and closed the day at $6,257 after touching $6,032 during intraday. On Sunday, March 29, it continued the freefall reaching $5,865. The coin was 1 percent up for the week. What we are seeing on Monday is a very different picture - the leading cryptocurrency avoided a drop to $5,500 and successfully recovered its position above $6,000 and the fast 20-day EMA. It is currently trading at $6,317 and it is the $6,400 zone we are actively monitoring as it proofed to be a major S/R line recently. Additionally, the RSI index jumped back up from the sell zone today morning. What is surprising me is that there is no obvious trigger for the bullish momentum we are observing - the European stocks market is relatively flat and Oil is loosing, even more, ground on the first day of trading. 24-h trading volumes started dropping over the weekend and reached $24 billion on Monday morning after losing 30 percent of its power. As of the time of writing, they have recovered to the values registered on Sunday - $33-$34 billion. On the 1h chart, BTC is once again trading above the 200-day EMA but failed to break above $6,400 in its first attempt, which resulted in a small dump in price and a return to the downtrend corridor. Tomorrow we will once again take a closer look at the altcoin market and the leading coins...
BITSTAMP:BTCUSD
by FutureBlockchain
Hold onto your seats... Critical point for MSFTLet's see what happens Monday/Tuesday in the markets. MSFT is still up 26.7% in the last year (despite Coronavirus selloff) - it should not be considered cheap with current P/E ratio: 26 (down from P/E ratio: 32 in February). Terrific company with a lot of prospects going forward but there is much better value to be had elsewhere in the market right now. MSFT is not immune to the Coronavirus fallout - they've revised estimates and admitted supply chain problems which will continue to affect the company through the end of the year. Be patient with MSFT, we may get a better buying opportunity soon. HOLD OFF AND LOOK FOR BUYING OPPORTUNITY IN THE NEAR FUTURE
NASDAQ:MSFT
by DanEllsworth
2
Coronavirus will hit hard... Must be patient with AppleWould I buy Apple right now? Not yet. Coronavirus will have a major impact - murmurs of iPhone12 delays and supply chain pinch. However, there is no question Apple's strong cash balance (exceeding $200Bn) will push them through this crisis. It's important to note that Apple shouldn't be considered cheap quite yet (current P/E ratio: 19.39 -> down from P/E ratio: 25.67 in February). It's Cheaper but I'd look for it to come down to near $220 before I build my position. BE CAUTIOUS, BE PATIENT, AND THEN BUY
NASDAQ:AAPLLong
by DanEllsworth
1
BTC Trend Forecast 27/03BTC has found a good support over the past few days. Looking back at the period November 2019 - February 2020, its value experienced a few ups and downs before entering a bullish trend, represented in my chart with an ascending triangle. Considering also the comparison between the current and the past behaviour for both MACD and RSI, there could be a similar development in how the value will progress. If BTC value were to break the support and enter a bearish phase in the next week, followed by a recovery bullish one, it may be a strong signal for the market of a trend repetition. In that case, we would observe a strongly bullish path for BTC over a sustained period of time. What about the market scenario? What is happening according to many exchanges is that there is a great inflow of new users, probably due to the great reduction in value that both BTC and other Cryptos have experienced. These users are entering the market, probably looking for easy profit, meaning that if BTC would actually be bullish for a certain period they would be likely to cash out leading the bullish trend to an end. This would cause a drop in value and bring the market to face a new challenge in finding its stability. What do you think?
COINBASE:BTCUSD
by RollingBoat
4
critical support 3010 is broken...possible more selldowns one of the critical support 3010 is broken today...I believe market is trading towards the downside...expecting more selldowns afterwards...of course, market is a bit volatile when it closes to the 16th of the month, the exchange date...If you trade fcpo long enuf, you will know what I mean...fcpo-march is going to experience low vol soon as fcpo-Apr will emerge as the new active month... the trend should be clearer after the 16th Jan 2020, but still, market might has bias towards the downside now...unless higher-high is made after the 16th, a breakout of the price exceeding the 3150 then we shall see the price challenges new high after that... a broken to the downside will see the price retest the previous resistance-turn-support level such as 2930...as shown in the diagram, has been tested multiple times before the new highs are set...
MYX:FCPO1!Short
by HAIDOJO_trading
2
SPY EOY ForecastI think a leg to the 320 area or back down to the 303 area on the SPY are likely. Personally I have a bias towards the 320 side as we approach the anticipated completion of the US/China trade deal. Whether we actually get the deal or not is a coin flip in my opinion but I do expect the market to continue rising in anticipation. If it falls through then we will very likely see 303 and possibly lower and if we get confirmation of a deal (and it's a good one) we will likely print 320 and beyond in early 2020.
AMEX:SPY
by BrownBearTrades
2