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ETH: Big dip leads to looking at the bigger pictureETH dropped out of the very bullish movement/channel it was in, but it still on an uptrend. I've zoomed out to the weekly for now and really want to see this cup and handle develop still. Bullish divergence will be invalidated if we drop below the last low of 226. The cup and handle will be invalidated if the handle retraces 50%+ below the height of the cup. Another important thing to note is that BTC has knifed below its daily pivot. Ideally we want this to just be a wick and NOT close a daily body below the pivot. Closing below the pivot will most likely have us seeing more downward movement.
BITFINEX:ETHUSD
by infbp22
2
BTC Directly Linked to Emerging MarketsThere are many on this site that are claiming to know where BTC and other cryptos are heading in the short to intermediate term. The only issue? Their analysis is absolute hogwash. This chart shows the Vanguard Emerging Market index (which shows a diversified performance of equities in many of the emerging markets). Notice the stark similarity. As you can see, BTC has traded very closely to the emerging markets index fund, and this should be no surprise to anyone because a plethora of reasons, but, I believe, most notably the fact that adoption rates in emerging markets are much higher than that of the United States. One of the highest BTC adoption rates is in China. Notice when BTC begins to peak - right around the end of December. To refresh your memory, this is the time when everyone around the world started to notice that President Trump was not, as many as stated, bluffing about tough trade talks with China and the rest of the emerging markets. Thus, China and the rest of the emerging market economies being to have fear and uncertainty thrust into their everyday life. What is the first thing that people want to do when they have uncertainty? Stockpile the one thing that they know will allow them to eat, live, and pay for expenses - cash. That leads us to the next logical decision of what assets to liquidate to get this security. I feel that many believed that the untested, unproven and uncertain BTC was the first asset on their list. So I have a theory, what does it all mean? For one it means that while Technical Analysis can be very helpful in making decisions, the psychological analysis of investor's willingness to buy and sell of security may be a better means of predicting what kind of growth BTC can see. Boom and busts are something that have been heavily studied throughout our financial markets, and it may be a good idea to apply some of the things we have learned about nearly every other financial market to BTC. My underlying point is that we have to start thinking of BTC as a truly speculative investment. It is something that many who got involved did not do so for the long-term gain, but instead the short-term gain. Will it become a world currency one day? I think so. Should we treat BTC with the same kind of legitimacy that "world currency" demands? Absolutely not. So, what needs to happen to see another bull run? 1. Emerging Markets need to may a rebound, and fast! For every day that emerging markets and, to an extend, China is down continues to put downward pressure on BTC. No matter what happens, if the primary adopters of BTC don't want to take risks anymore then BTC will continue to consolidate downwards. 2. We need trade certainty. China and the United States and other emerging markets need to take an ambiguous trade situation and at least make clear what the relationships are going to be in the future. Uncertainty will nearly always slaughter everyday investors' appetite for high-risk and speculative investments. As of right now, BTC falls in these categories. 3. There needs to be more adopting and a fight against ignorance in countries that have low adoption rates. The United States is one of the worst adopters of BTC and other alt coins, and it's very hard to see why. Nearly all of the biggest technology companies and technological advances have occurred in the United States. If BTC owners are seriously concerned with bringing awareness and adoption, then maybe some of them should start to open their pocketbooks and liquidate some of their reserves to pay for strong marketing campaigns to convince those who are either on the fence, ignorant, or who have maybe never even heard of BTC to add the investment into their nest egg. Unless this campaign becomes a reality, many citizens will always know BTC as a busted bubble and not a serious investment. If the above can happen and investor sentiment can turn around, so can BTC. But until these things begin to happen, don't take anyone's TA as gold and expect BTC to magically rise as it did before. Many markets work the same way, and now we are starting to find that BTC is no different.
AMEX:VWO
by jgree107
BTC UPDATEAs expected, we had a little bit of a boost but it was was harshly rejected and price was sent down to its current level. We will need to see some bulls show up to the party or we may be in for a long ride. Pivots are very relevant right night. We need to push through this blue pivot in order to enter bullish territory. I'd really like to see a close above the descending red line today. We printed an ugly shooting star candle stick on the 12 hr chart, would like to see a more neutral/bullish candle appear. I wouldn't recommend any trades right now until we exit one to one of the zones noted. If anything, move into coin or cash and use a SL depending on the direction to re-enter coin or exit in case we go north or south.
KRAKEN:BTCUSD
by infbp22
Weekly Bullish Pennant right into 50SMAHi guys, I've had these ranges plotted for a few weeks now, and it's really helping me see this pair more clearly. We're currently underneath the 50SMA and have been for some time, but with the bullish pennant forming on the weekly, we may be in for some change. I've marked out some strong areas for support, and a long test wick candle. My bias will remain neutral until I see some further confirmation, paying particular attention to how we react to the 50SMA. Happy trading.
by JakeSummers4x
UPDATE: PEIX EXACTLY AS PREDICTED HIT MY TARGETS VERY QUICLYALTHOUGH I HAVE BEEN EXACT IN MY PROJECTIONS WHEN IT COMES TO THE STOCK TESTING ITS 52 WEEK HIGH, I AM STILL BULLISH HOWEVER, I WOULD MOVE YOUR STOP LOSS TO A TIGHT ONE IF YOU BOOKED THE PROFITS WE HAVE SEEN IN THE LAST FEW DAYS I WOULD PLACE THIS AT APX. 17.62 WHICH IS WHERE I WOULD EXPECT TO SEE A REVERSAL IN PRICE IN THE EVENT MY INDICATOR FOLLOWS SUIT IF IT BREAKS THOUGH THE KEEP MOVING YOUR TIGHT STOP TO ENSURE A GREAT TRADE DOES NOT BECOME A BAD ONE. PLEASE REFER TO MY PREVIOUS POST ON PEIX TO SEE MY ENTRY POINT AND WHERE I ALSO REFEREED TO PUBLIC TO ENTER ALTHOUGH I FELT THE TIMELINE WOULD BE LONGER WE ALL KNOW AS PER THE PREVIOUS LINK WHAT GOES UP GOES DOWN SO THE FASTER IT GOES UP THE FASTER IT GOES DOWN. ONCE AGAIN IF IT CONTINUES THIS BULLISH NATURE IT WILL BREAK ITS 52 WEEK BUT PLEASE USE CAUTION ENTERING TODAY IF I FEEL AN ENTRY POINT TODAY BECOMES A SERIOUS POSSIBILITY GOING INTO THE CLOSE I WILL RE POST HOWEVER WE HAVE RECEIVED 68% PLUS PROFIT AS OF NOW AND ARE EXPECTING TWO POSSIBILITIES: 1: TREND REVERSAL WRITE CALLS TODAY 17.50 EXPIRING TOMORROW TO ENSURE A LARGER PROFIT AND IF STOCK AND ALSO A SAFETY NET 2:ENTER A TIGHT STOP AND NOT BE GREEDY SO MAKE IT YOUR DECISION BASED ON YOUR GUT AND MY INFORMATION PREVIOUSLY GIVEN IN MY PRIOR REPORT. IF YOU ARE A SWING TRADER FOLLOW YOUR SHORT TERM POSSIBLE REVERSAL OR COVERED CALL WRITING HOWEVER IF YOU ARE IN IT LONG TERM A PULL BACK TO THE 9 EMA WILL NOT HURT YOU I DO FEEL BULLISH LONG TERM HOWEVER NEUTRAL SHORT TERM. GOOD LUCK ALL AND BILLY THANK YOU AGAIN FOR YOUR CONSISTENT WINNERS!
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by bhorbs81