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Did someone say Pitchfork? Just an idea showing PF channels Was playing around on the BTC charts and projected Pitchforks from the Early 2015, 2016 and 2017. Honestly the still seems to be playing a major role. Overall Long-Term Outlook: First off testing the ~11.8k resistance line. (unless it breaks into the upper channels) Finding support around the ~6.5k support line, which correlates to the 2016 and 2017 Pitchforks. (could break lower to the ~3.5k support,but not likely IMO). From there returning to the ~9.8k- 11.5k Retest/ break current channel: (~17.3K July 2020 If the channel is broken upward. (Bounce or break up into new channels after 17K target is reached)) (If the ~12k Resistance level isnt broken here we are going into the biggest bearish recession BTC has ever seen.) (If it plays out as displayed above BTC will find life again ~4k mark around November 2022) NOT AN EXPERT DISCLAIMER. Honestly the biggest factor in the playbook has and always will be Global Adoption. The crypto community will continue to be held back by governments laws and regulation, until final word is spoken on the matter, in turn governments have only been integrating into the Crypto space for ~3 years which span over investigations in multiple different assets on top of multiple exchange bans. (Not to say following government regulations is a bad thing, but it also makes you think of what is left to come, and how far we are from an equal medium) Will update if this turns out to be a functioning chart, as always DYOR and Good Luck.
BITFINEX:BTCUSDShort
by CapitulationCalls
Lunyr ~12 Dollars August 2020 refer to .45 cents as bottom.My chart is kind of a mess, but i did over 4 hour of TA so i thought i might as well give you guys a peek, here's the rundown of my analysis. First pitchfork its based off the monthly candles, in return they don't correspond to areas that intersect with candles, based on the daily chart. Second Pitchfork Corresponds to the bottom of the first PF, as well as (0) and (A) on the ABCDE Elliot Wave. The third and Final PF is a Modified Schiff Pitchfork Corresponding to the bottom of the second PF, as well as (E) on the ADCDE Elliot wave, and a wick near the ~4.6 Dollar mark. KEY: Blue Arrows: Signifies possible movement by Lunyr. Red Arrows: Signifies End Of Movement TA Black Opaque Arrows: Signifies Trend Lines Black Candle Sticks: Represents Strong Resistance/ Deviation From Trend Purple Triangle: Represents ABCD Triangle Pattern Red Triangle, Near Bottom Of Graph: Corrective Move Back Up To ABCD Triangle Red Triangle: Not To Scale, Refer to ~.46 Cents As The Bottom Time Frame: ~12 dollars in August is speculative Target Is Still The Same, Time Is Relative. Targets And Stop Losses: To Enhance/ Give Relative Targets To the Corresponding Channels SHORT TERM SHORT LONG TERM LONG Will Update Chart If And When Lunyr Re-Enters the Lower Channel/ Re-Enters The End Of ABCD Triangle Purple Triangle NOT AN EXPERT DISCLAIMER. As Always DYOR and Good Luck.
LShort
by CapitulationCalls
1
BTC in an active mid-term down trend/lower consolidation periodI'll keep it simple. Weekly Time-Frame 10 SMA - Orange line, 21 EMA - Yellow Line, 20 SMA - Red Line, Parabolic Sar - dotted crosses The parabolic sar has printed on the weekly time-frame. I don't use SAR personally unless it is on the weekly which have a very high percentage of playing out. You can see every time the SAR has printed on the weekly, there was a sign of mid -term reversal. BTC has printed the SAR and I suggest, highly suggest you pay attention. The bearish divergence on weekly has been confirmed and usually when bearish divergence are active, you would want to see it travel back down to the 21 EMA. The EMA death cross on the 4hr has become a meme, but nonetheless, it is playing out. Price will consolidate on the 10 SMA weekly with bounces here and there, but eventually it will break. The target is most likely the 21 EMA on the weekly and 20 MA on weekly. This is a sign of a healthy bull-market continuation of price if it can hold and consolidate on these two levels 21 EMA/20 MA weekly. They are the magnet in the market that will continue to push price further for a couple more years just like it has in previous bull markets. These are the areas of interest that many are looking to buy back for a longer HODL period on BTC. If price does not hold on the 21 EMA or 20 MA, and closed a candle/open a candle below, that is a sign of disaster to later to come for BTC. Just to have confluences, 4hr is showing a "death cross" on the 50 EMA and 200 EMA while weekly has re-entered the CCI . After a massive run of 300% since March, it will need to consolidate for a longer period of time before it can make another run. The macro time-frame by all means is still in an active bull-market, do not confuse mid-term analysis with macro analysis. So, how would you play this? Any rally for BTC will be sold into, and opening a short position will more than likely be in your favor because of the trend has reversed to the downside on the mid-term time frame. The blue box on the chart is the interest areas of buyers wanting to step back into the market. Wait for a weekly candle close AND open above the 21 EMA weekly, and that'll be your very very nice long for tremendous upside. Stop-loss under the 21 EMA, your risk reward is amazing at these levels. If you appreciate my macro analysis please consider using my affiliate link. www.deribit.com www.bitmex.com
BITSTAMP:BTCUSDShort
by cooface
For every action, there is an equal and opposite reaction?So, I don't know if Newton's 3rd Law applies to trading, but maybe it does. I do know that I probably used the pitchforks wrong according to whatever rules you "PRO" traders follow, but using things wrong doesn't really mean shit if the end result is right. Not saying I'm right in this case, but shit happens. Let's see if shit happens... Downtrend fork has a 2.618 extension added to it because why not? It happens to be where price stopped going down and started going up. Makes sense? Probably not. It's crypto, it doesn't have to make sense. All you need is a little FOMO... I haven't really looked at COINBASE:ETHUSD charts since my last call, which shockingly worked out really well. (see below) That being said, this chart may not have the same lovely results but I haven't posted a chart in a while and I was bored, so here you go... ============================================================================================= Disclaimer: I do not guarantee anything in this chart because honestly, this is just a random idea pulled outta my ass (where most good ideas come from). The price could easily ignore my chart completely just to confirm my stupidity. I am a noob trader, I accept this. You should too. To repeat, I am not a professional trader (I don't even play one on TV). I do get quite lucky sometimes, maybe this is one of those times. I will gladly accept any criticism, comments, or critiques. I'm still trying to learn. Be nice. Be mean. I don't care, just be something.
COINBASE:ETHUSD
by arvo
2
UKOIL shortThe first time I've actually looked at Oil but let's see how this goes, as the structure corresponds with fib levels it would be interesting to enter a short indicated by the first green line, a long wick candlestick previously reached this region before a reversal, if Oil can break below I think there is potential to hit the following green lines. Market structure + Fib. No RSI as there is not sufficient case for over or under sold so omitting this from the analysis. In case not clear 62.20 is entry so the price has to fall from current level to reach a pending order in which case trade is entered.
FX:UKOILShort
by failure1