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High Level of Uncertainty. Two Possible Scenarios!!!There is High Level of Uncertainty Right Now This analysis was developed using marketprofile to sort data. What happened in previous five week: Week 25: aggressive buying triggered by late majority entrance into the market. Week 26: Late majority together with Laggards pushed the price to an excess high at the major resistance around $14000. The exact stop at this level & failure to break-through confirms that liquidation is mainly done by weak-hand money (late majority+laggards). Although it is a valid high, the probability of BTC holding this high is poor. Remember #JimDalton's "Exactness Kills!". Week 26 also developed a poor-low which signified the liquidation could still go on! Week 27, very short-term traders started to buy the dips and this pushed the prices higher. However, since this bounce occurred by weaker-hand money, as it is evident by "poor low", it was unable to reach previous high at $14000. Note that the auction to the downside is NOT COMPLETE due to lack of a good base for this bounce!!! Here we got the second back to back poor-low. The odds for holding the low is very poor! Value area developed within previous week's value area indicating balancing is being formed. Week 28: Value area was developed overlapping to slightly higher leaving a poor-high and an unchanged POC , double confirming the balance forming situation! The poor-high also signified the auction to the upside was left incomplete! Week 29: As expected in previous analysis: a bounce from unvisited POC of week 25 occurred. A valid low was left behind. BUT the bounce does not show enough strength to reach the target. Moreover, value developed lower and POC migrated lower. THE THINGS HAVE CHANGED & we are prone to high level of uncertainty. Last legs of week 29 was due to buying by week-hand day-timeframe traders as the push happened exactly at halfback. What to expect now? Sentiment is weak now. There are two scenarios at the moment: Less probable scenario (scenario 2) would be to get an impulsive bounce from halfback (highlighted in the chart) which could rise the price to bracket high. The value area needs to return to previous weeks for the long position to remain valid. The more probable scenario (scenario 1) would be the Bitcoin to go lower to the unvisited POC of week 24 @ around $7950. A break below week 29 low @9049 would double confirm this scenario. In case of scenario 2 happening, the capital may move to altcoins giving rise to altcoins' season!!!
BITSTAMP:BTCUSD
by HamidN
2
Prepare Yourself for the next bull run! Bitcoin is just correcting its very long inventory. No need to worry for longer-term holders! It is just substituting weak-hand longs for stronger ones! This analysis was developed using #marketprofile to sort data. What happened in previous four week: Week 25: aggressive buying triggered by late majority entrance into the market. Week 26: Late majority together with Laggards pushed the price to an excess high at the major resistance around $14000. The exact stop at this level & failure to break-through confirms that liquidation is mainly done by weak-hand money (late majority+laggards). Although it is a valid high, the probability of BTC holding this high is poor. Remember #JimDalton's "Exactness Kills!". Week 26 also developed a poor-low which signified the liquidation could still go on! Week 27, very short-term traders started to buy the dips and this pushed the prices higher. However, since this bounce occurred by weaker-hand money, as it is evident by "poor low", it was unable to reach previous high at $14000. Note that the auction to the downside is NOT COMPLETE due to lack of a good base for this bounce!!! Here we got the second back to back poor-low. The odds for holding the low is very poor! Value area developed within previous week's value area indicating balancing is being formed. Week 28: Value area was developed overlapping to slightly higher leaving a poor-high and an unchanged POC, double confirming the balance forming situation! The poor-high also signified the auction to the upside was left incomplete! What to expect now? I expect bitcoin liquidation will continue to the unvisited prominent POC of week 25 where a major support by longer term holders is laying at around $9100-$9200. Go long there if you witness a solid strong base. In between, we may get a small bounce up to previous week's halfback at $12000 which could be a short-term opportunity to go short (only if you are a fast-trader and can avoid to get marry to it!). The targets for long position are previous high at @13800 and (if conviction is strong) $16800.
BITSTAMP:BTCUSDLong
by HamidN
1
USDCAD - Point of control of the Year 2018 We can see strong uptrend on USDCAD i the whole year 2018... For that reason i expect continuation this uptrend in the Year 2019. After correction to the 50 % fibonacci retracement moved up of the Year 2018, can be possible change trend up on USDCAD right now on price level 1.30262... 50 % moved up is so near to the Point of control of the year 2018.... So there is a lot of confirmation for the trend reversal... 1. ABCD GARTLEY 2. POC OF THE YEAR 2018 ( Volume cluster ) 3. STRONG UPTREND in 2018 Happy trading Dale
by Trader_Dale
5
Bitcoin is just BALANCING! No Reversal is ahead!Bitcoin is just correcting its very long inventory. No need to worry for longer-term holders! It is just substituting weak-hand longs for stronger ones! Based on profiles from week 25 to week 27 of 2019, we've had an aggressive buying by short term traders which is very evident in week 25. In week 26, we got an excess high due to high liquidation by these day timeframe traders as approaching heavy resistance around $14000 level. During week 27, very short-term traders started to buy the dips and this pushed the prices higher. However, since this bounce occurred by weaker hand money, as it is evident by "poor low", it was unable to reach previous high at $14000. Note that the auction to the downside is NOT COMPLETE due to lack of a good base for this bounce!!! I expect the current week bitcoin liquidation will continue to the prominent POC of week 25 where a major support by longer term holders is laying at around $9100. Go long there if you witness a solid strong base. The targets are previous high at @13800 and (if conviction is strong) $16800.
BITSTAMP:BTCUSDLong
by HamidN
Open Auction Day in StocksStocks are forming an open auction day, consolidating about yesterday's POC. They seem to be knocking on the upper bound of this range, indicating we may see a slow drift higher. This would make sense as the markets have been beaten down off trade fears for the past few days. Keep in mind that a headline could send us careening up or down depending on whether it concerns Iran sanctions or a trade deal (positive or negative). The Kovach Momentum Indicators have been solidly bearish the past few days, but have come to a bit of a stand still indicating that the markets are taking a breather. This would support our assertion that a small upside correction is in order. The Kovach Reversals indicator suggests we are oversold which portends that the pendulum will swing to the bullish side even if this is short lived.
CME_MINI:ESM2019Long
by quantguy
HSI need to prove to stay above 29900 and higher$HSI is stuck within 29900 - 29500 area. the range become smaller and we have shifted down balance after the high of Apr'19 . Today, HSI bounced at 29600, this was showing that market still "hopping" for long term bullish. But I don't see any market conviction yet on the up side. 29900 still the bracket for couple of days. we are in distribution pattern, but will see if the market can change this become re- accumulation for longer better out look. For Now, there is no strong holder on up side here, and no new seller. peoples just buy at low and givin'up at the strength. i scalp it every day, and just get out at every intraday support and resistant. I have no confident for holding longer. I plan to ride the break of 29900 to test 30100 - 30200 level.
OANDA:HK33HKD
by kinetix360
Poor High + Increased Short Position Possibly Lead to new Highs?We do not have an excess top on the 9, showing possibly a lack of demand and following liquidation as simply an inventory adjustment in the auction and not new selling entering the market. Large short accumulation in this period could be due to short term technical and not long term fundamental reasons. This might possibly indicate smart money stepping in at these prices and accumulating these short term momentum trader short positions. This would fly in the face of most short term technical outlooks. Just an idea, i'm publishing as a way to track my thought process with regards to bitcoin.
BITSTAMP:BTCUSDLong
by tookerjubz
1