shorting the EURUSD 1M timeframepatiently wait till price hits the 38.2% level where it meets the trend line then short sell.
Monthlychart
Quick Analysis of 3 key indicators on the Bitcoin MONTHLY chartHi everyone,
Welcome to another Bitcoin update on the Monthly Chart!
As usual, it's all pretty clear in the chart. I take a look at the MACD, Sqz Momentum Indicator and RSI on the Monthly chart.
Assuming we are in a new BULL market (as of April/May 2019), here are some points to consider on the indicators:
1) A bearish MACD cross never happens when BTC is in a BULL market. So we expect the blue line to stay above the orange line until the end of this bull market.
2) Squeeze momentum indicator always shows a bullish decay in the red going into bullish rise in the green all throughout the bull market. We do not expect another bright red candle until well into the next bear market
3) RSI always attempts to stay above the 50 mark in BTC bull markets.
If that's the case, there may be a little bit more downside but nothing significant at all. This month's candle is likely to go back to green as we've already had 3 red months in a row; that is quite uncharacteristic in a bull market. Let's see what happens in the PA moving forward.
Cheers,
Leb Crypto
XBTUSD 1M: Monthly Close in 7.5hrsZooming out to the monthly chart can certainly get rid of a lot of noise on the BTC chart. We've found support so far on this monthly supply block right before the final $6k breakdown last year, but unless we can close today above this $8500 line, it seems like a deeper dive or at least an extended sideways accumulation is in the cards from here on out.
Monthly Lower High for BitcoinInteresting macro perspective to just be aware of..
Bitcoin forming a lower high on the monthly creates this horizontal wedge pattern. Could we be in for a massive correction back to $5000?
S&P 500 Monthly Analysis-When Bulls Get Tired, Bears Get Hungry
Looks like the video didn't reveal my drawings as it appeared to during recording, so I've posted the weekly chart here for a zoomed in picture.
An unsustainable trend typically results in consolidation or a reversal in said trend. The Month of September will be critical to the US markets, as can be plainly seen in the S&P 500 Futures chart. Bulls have gone from expecting an all-time high to suddenly hoping for an inside candle. As long as September closes above the weekly 50 sma, (2811) most long-term bulls will hold, and this bull market could continue to go extend higher. A close below 2800 will likely bring on 2730 very quickly. I personally expect we see the S&P 500 test the 2500's within the next 6-12 months (12%-18% drop).
24 ema - blue (thin line)
50 sma green (red) thick line
100 sma yellow (orange) circles
200 sma green (red) circles
EURCAD Monthly/Weekly OutlookFirst off, there is a monthly Ascending triangle. The orange lines represent monthly zones. The circles show the touches of the trendline zone. So the monthly has some uptrend structure. When we look down at the Daily chart, we see at the market is currently in a downward parallel channel. However, I'm looking at it bouncing off of one of the bottom two green support zones with confluence of the trendline to continue that monthly uptrend and make it to the monthly resistance that the arrow stops at on the monthly chart at least. For now, I'm looking for it to possibly push back up to the top of the resistance line on the channel then come back down to one of those bottom 2 green supports then go up, or to break the resistance of the parallel channel retest it and start the uptrend now. Either way, I'm seeing that push up for the monthly ascending coming soon. I don't see this downtrend going down past those two bottom supports. But, we know these markets do what they want. So I could be horribly wrong. We will see.
Trade at your own risk, I am not a professional and this is not professional advice. I just read some books and think I know a little something.
PatiencePays
$XRP >> Moon shot has to wait till Q4. It'll be big though!Hey everyone,
Welcome to a brand new update on $XRP.
Details in the chart where we look at the volume and MACD indicators.
Things look like an XRP moon shot is delayed till Q4 this year.
I don't expect much to happen during the coming summer months (July - September).
Nevertheless, it's looking increasingly bullish (technically and fundamentally) and I think it will outperform ALL digital assets in terms of gains towards Dec 2019.
Cheers,
Leb Crypto
Bitcoin on the Monthly >> Big parallels with Q2 2016 bull rallyYet another Bitcoin update! $BTC
Monthly chart shows a strong parallel between the initial parabolic rise of early 2016 and 2019.
1- In June 2016, Monthly RSI topped out at the same level we seem to be topping out on now, around 60.75!
2- Both had roughly a strong parabolic rise of 300% increase or so in price from the real definitive breakout points, with a BlowOff Top at the golden pocket (61.8%-60.5% fib retrace)
3- Will 2019 retrace 41% as in June 2016? I think it's not unlikely.
Let's see!
Cheers,
Leb Crypto
BA: Speculative at New All-time High with Contrarian Long-term POnly 2 of the DJIA components are currently at new all-time highs: BA and PG. Boeing gapped and ran up on earnings news with a boost from HFTs and buybacks. Currently, the number of shares held by institutions is dropping. Vanguard, Blackrock, Price T Rowe, State Street, Capital World Investors, Northern Trust, all giants of the Buy Side, have lowered held inventory in recent months. The stock is at a speculative price as smaller funds buy heavily and buybacks of up to $14 billion move price up. Whether this will be a good strategy for BA this year remains to be seen. The chart is the Long-term Trend Monthly chart showing the severity of the speculative buying. Also you can see the Cycle chart pattern using the DPO indicator with a failure to trough V shape. Volume shows a steady decline as well. These are contrarian indicators to what price is doing.
EOS fight back to $10 and higherLooking further out, this is with a fib retracement on the monthly candles. We've had clear support with some more room if needed to go down a little more within the triangle or a possible 3rd touch outside wick.
BTC/USD Monthly; 30 minTo hone in on the overall pattern for FY 2018, I pulled a monthly snapshot with 30 minute increments to further highlight my projection of BTC/USD rather than a yearly "overall" to convey how BTC is being deflated one semi-drastic price action at a time when high volume hits various exchanges.
I formulated my own fib levels with units of "100.00" rather than using the tool Trading View provides. The number sequence of 0,1,1,2,3,5 along with directional arrows are provided, such that, onlookers may easily understand how I calculated resistance and support for the monthly chart provided by Trading View. Of interest, is the ascending range #3, the descending range #3, and the descending range #5 of price action(s). A more detailed analysis can and should be overlapped onto the very basic monthly chart given; however, the chart shows the overall pattern of deflation of the speculative bubble in FY 2018 within a shorter segment; a month.
It is my opinion that if this trend continues, Crypto-currencies in general are only good for swing trading, with the assumption that all factors remain mostly the same. This is my sole opinion; a conjecture that is not to be misconstrued as Financial Advice, implied or otherwise.
Zero MomentumWe have to remember, that there are three directions in a technical chart analysis: bullish, bearish and sideways.
To get the big picture, I analyze the monthly chart of Bitcoin today. We realize that on the monthly chart, the down channel is not yet broken. Furthermore, the last three months closes are approximately in the middle (blue square) of the high and low, which are marked with a blue line. This means nothing but there is no momentum in either direction. For already three months, BTCUSD is in a sideways movement and the swings are getting smaller and smaller. However, during the month of March, there has to be a decision. Will it break out on the upper side of the channel and either move upwards or continue its sideways movement? Alternatively, will the red upper channel main resistance line be strong enough for pushing the price of Bitcoin further down to 1140 USD at the green channel main support line?
I still stay at the sideline until a new trend establishes. In such a sideways movement, losing money in narrow swing trades is highly probable.
EURUSD A monthly bullish flag In this monthly chart we can see how the price is naturally tending towards the 1,2500 target.
And then? It is premature to talk about a bullish brerakout to 1,3000 but something, in the long run, makes us imagine.
USDJPY Monthly falling wedgeHello,
I decided to go ahead and also provide the monthly chart as it might provide
more information as to why I think it will head down towards 90 - 100.
Cheers
Platinum: Long-Term ViewPlatinum has been in a correction since 2008. Since then it has established a clear lower support of this massive sideways move. Even though the current market phase is a correction, it yielded some opportunities to make profits.
Right now price is appraoching the balance zone, but the lower support hasn't been hit in that internal downtrend that was going on since the beginning of 2015. New lows are possible before the correction could come to an end as price bounces off of that major support level.
