BTC 2018 Vs. History 2The support and resistance minefield.
Added Nikkei, the Japanese stock exchange made a parabolic move trough-out the 80's peaked in 1990.
See any correlation?
Japan 225
NIKKEI, Daily Chart Analysis 6/11Implications and Outlook
1. The Nikkei managed to strengthen ever since completing mini Index Dip 21930. The Index saw the Yen currency back to middle 109 handle and trade firmer despite a brief positive print last few trading sessions.
2. The index further short/long-term bullish momentum continues as we approach Mean Resistance 23000, while overall completed Index Rally lays just above at 23050.
3. With overall Index Rally completion upside disruption will undoubtedly bring powerful bullish outbreak implications, having interim downside target to Mean Support of 22520.
4. Current Bullish/Bearish bias advances to 80/20
Nikkei 225: 7th June AnalysisMONTHLY CHART
Price clearly uptrending, strong support at 21k, clearly rejected at 24k. Needs to create a solid area of resistance there, so expecting price to go up there and test if this level is really a relevant resistance level.
21k also a fib respectation, so decent support to range between those levels for a while (potentially)
Conclusion: View is definitely bullish, but rejections mean a potential drawdown on its way.
WEEKLY CHART
Nice support and channel lines lining up to an area of potential support. View on this is neutral/bearish, needs to test that 21k level for further upside move.
Conclusion: View is slightly bearish because of this sell off, looks like it already found bottom. Besides that, stay neutral.
DAILY CHART
Falling wedge broke out, structure is bearish on this one, expecting a move down. Maybe test the highs one more time.
Conclusion: Bearish on this timeframe. Clear downtrend starting, looking for a test of the lows now, which is 22k.
4 HOUR CHART
Steap move up, too steap to hold so it'll probably slow down in momentum and change direction here.
NIKKEI - Formation of Lower High, Weakness AboundLaburlah Technical Coverage (30-MAY, Wednesday):
NIKKEI 225 Futures
Technical Analysis Breakdown
1. Trend: Sign of further retracement
2. RSI & Stochastic: Reversing downward
3. MACD: Bearish cross
4. Bollinger band: Sign of going down
5. Support level: 20,780 - 20,910
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.
Bitcoin: market psychology and repetitive patterns.Hi,
I compared many times Bitcoin crashing pattern as a x50 speed Nasdaq Composite crashing pattern, both shared some important similarities.
I was expecting an important Bull trap to happen, but the short squeeze, coupled with the double bottom of the February lows, could greatly impact the market mood, and could change the structure and the price levels that this bull trap will create. Why?
Because i see a lot of traders certain that the market bottomed.
I am absolutely careful about the fact that we bottomed and i am 95% certain we did not.
A lot of persons are waiting for a bull run as they can't just deal with a crashing market anymore.
News that the internet media is showing us seems encouraging for Bitcoin.
Well, what about a huge bulltrap heading towards the 12.500/12.900$ instead of a solid bull trap heading towards the 9.200$?
Look at what the over speculating buyers did with the Nikkei.
Expecting such a huge bull run with Bitcoin is a possibility.
People will think that Bitcoin is having a rally, that Bitcoin is going to the moon.
But a rally never quickly happens after a crash, never ever in the history of economics, and this is what people always forget.
They see what they want to see and not what is possible to happen.
Why not to ride this possible Bull trap? I will buy and long, and i will not hesitate to sell and short this market as soon as i spot weakness and opportunities.
Let's see where this bullish wave can lead us to!
Nikkei moment of truthLooks like the aggressive shorts might have have their way here. NB: I didn't short it. Range of High Volume Node was too wide for me as I'm not a swing trader
NIKKEI, Daily Chart Analysis 5/19Implications and Outlook
1. The Nikkei managed to strengthen on Friday as the day wore on but, aided by the continued decline in the Yen.
2. The index further short-term bullish momentum did hit Index Rally 22950 level, while Key Resistance lays way above at 23468.
3. With this Index Rally completion upside disruption will undoubtedly bring mild short-term bearish implications, having downside target to Mean Support of 22700 and 22400 respectively.
4. Current bullish/bearish bias is 70/30
NIkkei Key LevelsStill plodding along, break of balance last night looking more like range expansion for now. Imagine we have a test of range lows and potentially look to touch upon previous highs & HVN's before any major push up. Top of range grey box looks like a low risk short if we push inside, end of day red likely as longs get paid.
NIKKEI 225 Index, Daily Chart Analysis 5/12Implications and Outlook
1. Further short-term bullish momentum likely to hit Nikkei Index Rally 22971 level, while Key Resistance lays way above at 23468.
2. The break of the Rally will undoubtedly bring serious of the short-term bearish implications, having downside target to Mean Support of 22412.
3. Current bullish/bearish bias is 80/20
4. The Nikkei Index has witnessed a remarkable run, leaping 10% in the last 30 days however only taking the stock index to flat Year To Date. The Yen currency continues to be the key indicator for a great deal of the Index recent recovery, which in fact had drawn much attention when it flirted with a 110 handle.
NIKKEI 225 back in positive trend channelThe Nikkei Index had left the positive trend channel after forming a diamond pattern. It fell on the support at 20.600 (fib retracement 61.8%) and rebounded on this level.
Since march 26 it has risen with volatility and reached the lower limit of the trend channel.
It took some days to break through this resistance and it is still not for sure that it´ll stay inside the channel.
Watching the indicators RSI and ADX - they signal a positive trend. This is why I think NIKKEI will remain in the channel.
If so it should climb up to 22.760 and close a gap (feb 06).
This is a hard resistance and we´ll see if there is enough momentum to come further.
Stop:
If the Index falls back well under the lower limit of the trend channel and / or breaking through the neckline of the diamond pattern at 20960.
NIKKEI 225 Index 5/3The Nikkei Index traded nervously on Wednesday in front of the Fed's announcement as well as US Non-farm Payroll but knowing it will be closed for the rest of the week due to Golden Week holidays. A number of the exporters did find a way to edge ahead. However, results were limited. The overall Index trend sprang out heavy all be it sluggish.
The Index remains above Mean support of 22077 in the past several days, not the time for retracement just yet- first it must complete Index Rally. However, bears are ready to take over, with Key resistance developing at 22457.
Nikkei approaching support, potential bounce! Nikkei is approaching our first support at 22074.3 (horizontal overlap support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 22423.9 (horizontal swing high resistance).
Stochastic (34,5,3) is also seeing a bullish divergence and is approaching our major support. A bounce off this level might be a good precursor for a potential rise in price.
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Bitcoin: still very bullish as expected so far.As expected, Bitcoin is still in its process of making its strong bull trap (or rally know knows).
We can see that the Fibonacci levels are acting as resistances and these levels can give us signs of when to trigger our sell moves for the alts if you swing trade or day trade (When Btc reaches this Fibo level, it can allow you to sell your alts). But lots of alts seem to have bottomed when we look at their crashing pattern, so it could also be a wise move to Hodl some alts for long term, especially if you managed buying them when Bitcoin was below 7k.
Has Bitcoin bottomed? I still do not think so.
But i might be wrong.
Maybe dictatorships like Russia and other countries see Bitcoin as a safe heaven tool to protect themselves from their volatile and weakened currencies, to escape sanctions, etc.
So there is still a possibility that the prize is so important, that market manipulations would prevent Bitcoin from having a natural crashing pattern. It is still a possibility, as the market is not regulated.
Targets 10.564$ and 11.640$ are yet still possible, such as a target right below the 13.000$.
They might be a bit too optimistic and too bullish, but i still really foresee a possibility to reach these targets.
Nikkei 225: Resistance becomes support at 20963Resistance at 20,963 established in May - Aug 2015,
has now become support.
Bullish trend is intact.
Long on Japanese EquitiesShould equities break down further I will buy at these levels. Note that today (Mar 25) it is resting at support but other equity indices eg US have further to fall, so I think more decline is possible. And if so this is where Id enter
Nikkei 225 in diamond patternbuy: if price breaks out of this pattern to the top with 1. aim 22.143 pt (fib retracement 78.6%) and 2. aim at 22.763 pt (swing trend line)
another active chart pattern is the existing trend channel which can be considered as strong because it has been tested on the downside several times and the index is sitting just on this limit; so a break of this line signals falling prices
stop: when price breaks through the bottom line at 20.930 pt
indicators: weak - so be careful
NIKKEI ACCURATE DAILY TECHNICALSNIKKEI JPN 225
To open LONG positions for JPXJPY , it is required:
NIKKEI is targeting 23000 to form a double top before a large market correction. Indicators are approaching positive conditions on our system & a breakout has occurred to the upside territory to confirm trade entry but if the market trend continues to range this signal will become invalid. Market execution for entry, I will confirm signal once the conditions have been met.
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Nikkei (Japan Stock Index) *So, now you know it is BearishIt is true that xxxjpy pairs should be a long-term down-trend and so is Nikkei.
Now. I am seeing a potential oversold situation, as a lot of noobs has jumped in the sell wagon and it 'may be' time for a swing up to hunt their stop.
So, if you are looking into short. Stay light.
I expect it shall back go down sooner or later. Stay Alert guys.
Trade Safe
s0nic
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Nikkei testing major resistance, potential upcoming drop!Nikkei is testing major resistance at 22178 to 22360 where we can see strong fibonacci retracement and fibonacci extension along with horizontal overlap resistance. What is nice to see is that there are multiple stochastic reactions that has occurred at that level too.
Major support is at 21700 which is a strong fibonacci retracement, extension and overlap support.
Nikkei testing major support, watch for the break!Nikkei is testing major support at 21700 which is the 38% retracement and 61.8% extension along with a strong overlap support. Breaking this level could trigger a strong move down to 21353 ( 61.8% retracement , 100% extension, horizontal overlap support).
It's important to note that RSI has broken below our strong 50% support signalling that a potential bearish move is on the horizon.
