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Over

Easy as 1,2,3 A,B,.... CWave B: "Narrow, emotional advance. Aggressive euphoria and denial." The ride up to 20k was accompanied with multiple tests of the MA 150 with not a single break below. Here we've left it completely behind. This run has disregarded every legitimate possibility of considering itself an actual bull run, but price is going up so naturally we call it so. The herd goes one way, I go the other. Wave C: "Strength, breadth. Prices decline relentlessly. Fundamentals ultimately collapse in response." Could it be that easy?
COINBASE:BTCUSDShort
by Bohrbtc
1
BTCUSD goes super sayian once again! Can it hold above 9k?We can see here we have now reached the 8827 target we had for the breakout target of the small yellow falling wedge and have since broken above that. However, just above that we have found a candle rejection on a potential rising wedge pattern I have been watching develop over the past 2 weeks and this rejection is only giving further legitimacy to this wedge pattern. If the wedge is indeed legit, we all know rising wedges have a tendency to break to the downside so we must keep a close eye on how price action reacts here. Of course in this current bull run we have already broken up out of a rising wedge wedge once already so there's a chance we could do so once again. Since it is reacting to the wedge's top trendline resistance I have to leave this idea as neutral for now. Even if the wedge did ultimately eventually break down though there's still a chance we could have a big wick all the way to 9.6-10k before it came crashing down back into the wedge and then breaking down so there is still a way we could reach our original target and the wedge still gets validated...also a chance we blow right past the wedge...this is a very crucial range so vigilance is a must. However now that we have broken above 9k its time to bust out those Dragonball Vegeta memes while you still can. "IT'S OVER 9 THOOOOOOUUUUSSSSAAAANNNDDD!!!"
BITSTAMP:BTCUSD
by DrDovetail
The Only Bull Case I Find PlausibleSomething to keep in mind: We are right up against the longest-term trend line (going back to 2011), which has never broken. If history is to repeat itself then this bear market will be over within two months and BTC will start making higher lows. However , my gut feeling is still bearish in the short- & mid-term. Events that have never happened before should not be treated as impossible, and this trend line could break. I am holding a conservative amount of bitcoin and small amounts of major altcoins, with an open short position on BTC on bitmex to hedge against further downside.
BNC:BLXLong
by tomraistrick
Summer sell off in all markets, crypto no exceptionBest case scenario is 4.8k, expected direction 3.3k, bearish scenario 3 digits. ETA either summer or multiple year(s). Yearly VP BTC vs USD Index (still in a bubble) Artificial pumps on margin won't cut it, roughly +~100 real btc from joe fomo and traders won't push it to 12k. Bottom accumulation net ~20k, spoofy filled 8k at dump in corrective structure at much lower price, 7k longs near the top and shorts reset. Summer almost here, crypto and stocks always tank. Betting joe fomo comes back in is a huge mistake. RR wise short > long 5:1. Before breaking ath, we need to finish correction, properly and all crypto and stocks always go back to the VP mean, no exceptions spotted, ever. People saying 6k bottom will never go below are all proven to be new to crypto and trading in general, so please do not comment this. Good luck to anyone on vacation holding bags when this comes crashing down.
BITFINEX:BTCUSDShort
by CryptoSwindle
38
GDOW: Global Dow Limit Down all over the WorldGlobal Dow: GDOW Limit Down Across the World The pattern here is similar to GOOG (without the double tops) and shows how all major market indices have fallen under the spell of the high-tech mantra. What's good for Google is good for the world, well, world markets anyway. Critical support for this index lies at 2967. The low so far is 2276 today. Come what may later today, this index has to hold closing values at 2967. It's probing the lower parallel and whilst it holds up the Global Dow (and therefore all major markets too) has a good chance of rallying from here, the perfect spot. But the 2967 level is effectively limit down for the Global Dow. A close below here will tip this index back into bear territory again, forcing back down to 2920 to begin with and then after a small counter-rally back down to 2887 at least and then most likely back to 2802.
G
by sumastardon
DXY: Dollar Index - 12 day Continuation Pattern OverDXY Dollar Index The DXY counter-rally (far left arrow) shows a 12 day continuation pattern from 1st December to 12th before DXY falls out of the parallels as the decline continues. The right- hand arrow also shows a 12 day continuation pattern from 1st February to 12th before DXY once again loses the parallel and begins to fall away again. Having broken down through 90.02 it should fall away to the 89.61 line and then begin to put up more of a fight - can dip to 89.51 and bounce and whipsaw at 89.61 to 89.51 and maybe spike as low as 89.30 but DXY must hold here at lowest today to avoid another retest of the lows at 888.72 - 8843 range. So far this DXY rally is no more than a continuation pattern within the overall downtrend. But Dollar bulls still have the minor double bottom at 88.50-88.40 on their side and will likely fight hard to protect these levels again if retested later this week.
TVC:DXYShort
by sumastardon
DXY: Dollar Index Update - Not done yetDollar Index DXY The dollar remains under medium term pressure and evntually it should fall away in stages through the blue lines of near term support potential to 88.31, and likely touching the longer term trend line at the extremity of the fall before bouncing away strongly again. In the very near term DXY is making a little continuation pattern below the low of the last decline at 90.97-91.01 and flipping in a 1% range bounded by 91 on the upside and by 90.17 on the downside. As it does so, gold and Eur dance to its tune. Even if it can manage to move up above 91.01 it is likely only to rally towards the upper parallel at best, touch it, and recoil back lower once more. To escape the year-long down- trend DXY has to break that upper parallel and hold on the retest. Only then will the Dollar's trend turn back to positive and we switch from selling rallies to buying dips once more.
TVC:DXYShort
by sumastardon
BCHUSD Athough on support this is not over yetBCHUSD Another spawn from the Bitcoin stable that has behaved technically perfectly - could be fresh from the latest chart book showing what a 'stock' can do under perfect conditions - but this time looking at downsides, not upsides... It's fallen below it's dynamic support line and then come back up to retest it from the underside....and repeatedly failed...that's the big clue that this is headed south from here - can be shorted now with stops above the line, yes? It's exactly the opposite of what a 'good' breakout to updside will look like. And in doing so it has fallen in 4 sections/waves to the low, searching for support from the beginning of this structure to left of chart, finding it on the lows of that structure and rallying there. But this decline is not done yet until Bitcoin itself makes a clear bottom. Near term support at 2322 must hold up here to avoid another test of 2248 at least, if not to 2209. Any failure to hold this latter level during the course of this week will tip BCH back into serious bear territory again and will likely force price much lower still, to 1840 at least, if not to 1766 where we can look to get long again if struck. But it's holding for now above 2322 so is neutral to mildly positive...but once 2320 gives way it flips back to negative again and we look to pick it up from lower levels from there.
B
by sumastardon
1
IOTA IOTUSD No interest in buying this rally yetIOTA IOTUSD Iota is testing important support at 3.229 with a low at 3.20. this latter level must continue to hold (and will do so long as Bitcoin holds up, which will not be for much longer now, it's just completing its own counter-rally now). Any failure to hold 3.20 will force Iota lower still to 3.03 and then should this level fail to 2.73 at least if not back to 2.47. Even though it's on support and rallying now, have no interest in buying here until Bitcoin makes a clear bottom. We can pick it up cheaper still urther down the line.
BITFINEX:IOTUSD
by sumastardon
1
Litecoin: LTCUSD Update and stops for remaining longsLitecoin: LTC Longs should have been out as the dynamic support failed at around the 276 level - see how often there will then be a challenge of the same support from the underside, which works for an hour or so before it falls away...not always, but maybe 50% of breaks are like this and the other half are clean, hard and fast. Last comment suggested looking to buy again at 245 with stops below 238 - well it wasn't very helpful, with a spike low at 235 so some will have been carried out with the rest of them...if you set your stop under 234, well done. But LTC must continue to hold up here at lowest - and that depends on Bitcoin holding up too, which is unlikely looking at that chart in isolation...so if still long here be careful. Any break below 234 by more than 5 points is unlikely to be a fake- out...it will then likely fall to 219-210 minimum and more probably to 188-172 range where we can look to pick up some more.
BITSTAMP:LTCUSD
by sumastardon
1
Bitcoin: BTCUST Still not over yetBitcoin Last shot Well that long didn't do too well - stopped out for about 200 profit unless you were smart and trailed a tight stop under it - 500 points profit lost by bad stop management. If it was going to halt the last high was a pretty obvious place - too busy updating other calls. Just plain dumb. Late. 16 hours playing with Bitcoin. Last shot for tonight... Despite the set-back Bitcoin is struggling on, now carving out a new set of parallels which have a corrective feel about them. It's still a buy off the lower parallel with stops quite tight, trailing underneath it and it will be a sell off the upper parallel later if touched at around 15600 in maybe 3 hours' time if the lower parallel continues to hold. It really should then fall away, potentially quite hard most likely back to 12094 and if this fails back to the lows. If this price action develops and it heads south hard and fast rather than more haltingly, then watch how it behaves at the lows...it should start to fight and flip around there to show it's got a chance of holding and getting long with stops within 50 points of the low...if it doesn't fight here it means we need to be prepared in advance psychologically to deal with the initial shock. We'd be looking at a full-fledged rout of every last bull left in town - driving price back as low as 8324 and maybe as low as 7843 at the extreme. This is not over yet until that upper parallel is breached and held on the retest by the bulls again. That would be a major surprise too. But it is Bitcoin guys. We know it's capable of pretty much anything. And so it needs covering. To turn from bearish back to bullish Bitcoin has to cross that upper parallel, hold on the retest and then break above 15814 and hold. If and only if it can manage that will the next long get triggered back to 17908 to start with and likely back to highs thereafter. And if Bitcoin loses the smaller parallels that are now holding it up before it reaches the upper parallel it means another test of the lows is likely underway but a little earlier than currently anticipated. Longer Term clean chart to follow
BITSTAMP:BTCUSD
by sumastardon
ETHUSD Opportunity knocks for next Bull PhaseETHUSD A fabulous weekend has developed into a terrible week for the Alts. This should create another fabulous buy opportunity over the coming 12 to 24 hours...and potentially lead into another good weekend ahead...if we can pick this up at lower levels without getting stopped out in the process. First support is nearby at 630 which if broken now should lead to further weakness back to 557-551 range (a good short when triggered). Ideally though, for bulls still wanting to get long here, ETH will plunge even lower, to 512 and maybe, if lucky right back down to the rising dynamic support at around 447 before bouncing strongly. It might not reach here, but we can still place orders in market at a coiuple of points above 447 and see if it gets struck. The 488-481 range is the other range to target as a potential antry zone for longs on any further weakness but any stops will have to remain below the 440 mark to keep from being hit...if you can handle the potential 9% downside from 481 there is 100% upside from 447. Look to buy over the next 24 hours, when the pips are really screaming. Need a plan and the courage to execute. The stage is set...let's see how close we can get to the bottom before committing to next long from here.
BITFINEX:ETHUSD
by sumastardon
1
Bitcoin; BTCUSD Head and Shoulders Top Now !BITCOIN: BTCUSD This thing moves like lightning. Shifting shapes: Head and Shoulder Top Still don't think this has finished its rinse out yet. Evenn more worrying, after dealing with the failed reverse HandS this morning there looks like there's a massive head and shoulders TOP formation appearing on the chart...stay away for now unless short...it's still ina weak technicalposition whilst anable to get back above resistance (old support) at 7080 right through to 7135 (more old support) and whilst below here that Head and shoulders will grow in importance and power...and an implied downside target at 6563. Stay away from the cookie jar until we see the dust settle.
BITSTAMP:BTCUSDShort
by sumastardon
1
Close up bearish Elliott Count for GameStopFundamentally this company is looking quite grim. As an avid gamer, i know (as do most) the future is digital downloads. There is no reason for a company like this to be the "middle man". As much as I like owning a physical copy of the games, I'm a minority. Most people are lazy and want gaming on demand. Its like vinyl records. Gamestop is quite reminiscent of another distributer (cough...blockbuster...cough) that got hurt by the transition to the digital distribution model - I can't see why Gamestop is any different. And with companies like Steam, and EA (with origin) and other more independents leading the digital distribution model, this company is game over. Not to mention, the CEO talking about making the company some sort of Apple / cell phone distributor or some s*#@ is nothing but bad news bears. Anyway, on a larger time frame, please see my older chart here:
NYSE:GMEShort
by Nathanael
7