Get started

Pitchfan

BTC: Pitchfan tells us a story...It's no secret that the alarm bells are ringing for bitcoin but what can we expect in the not so distant future? Using pitchfan we can see a clear pattern of tops and bottoms being formed on the blue line (1 and -1). What is interesting is the "no fly zone" that has been established between the Fibonacci numbers of 0.382 and -0.382 marked in green. Price action does not stay long in this zone is is quickly pushed to the next Fibonacci level of 0.618 and -0.618 marked in teal. Currently we are sitting on the median line (red). History shows us two things: Firstly the median line provides both very strong resistance and very strong support. Secondly, every time BTC tests on this line it eventually crosses it. It hurts me to say but the likelihood of BTC bouncing back up into a bull trend is very slim (well for now anyway). If history repeats itself, which it normally does we can expect BTC to break under the median and consolidate around the -0.618 zone (aprox $43k) before dumping down to the blue line on -1 (aprox $30k). This behaviour happens to provide confluence with the Wyckoff distribution schematic #1 which also suggests BTC is on its way to the $30k mark. While it maybe hard to believe the probability of this scenario gets greater day by day.
INDEX:BTCUSDShort
by veryfid
15
ADA's Support around 1.596 for Current PeakFibonacci indicates that ADA has reached the apex of the current phase of the current bull, which still looks healthy. For the 4 weeks to come, the price should decline. The bull should resume after. This is also supported by the trend lines of March and September 2020, as well as volume profiling. Add to this that the latest rise was against the market's tide, which increases the short-term tension. For the short term, it's a short. Otherwise, it's a long.
KRAKEN:ADAUSDShort
by MontyMacht
2
BTC : Dark Side of the MoonLong you live and high you fly but only if you ride the tide balanced on the biggest wave you missed the starting gun you run and you run to catch up with the sun but it's sinking half a page of scribbled lines hanging on in quiet desperation no surprise that they're giving none away us and them, up and down with, without the paper holds their folded faces to the floor and if the dam breaks open many years too soon and if there is no room upon the hill and if your head explodes with dark forebodings too I'll see you on the dark side of the moon // Durbtrade
BITSTAMP:BTCUSD
by Durbtrade
13
COIN : OUTCOIN bounces out of the descending channel that it's been rolling in since the beginning of the week. Has a base of COIN been established at 300? Starting with a horizontal ray at 310 (the bottom of the big drop), I began using rays to connect the higher wicks together, and then the lows together. After that, I extended some rays to the left and looked at where all the lines intersect. Using these lines and points, I placed pitchfans, lining the outside edges up to the rays. Once I established the main placement of the pitchfans, I removed some unnecessary rays and then edited the divisions of the pitchfans in the settings, lining up the divisions to wicks of the inner candles in the most meaningful ways that I could. If you zoom in you can see that every single line on the chart aligns with atleast 2 wicks or 2 candle bodies, other lines line up with quite more. Each line is specifically placed while considering wick importance and # of wicks aligned. Fib spirals too. 2 triangles were then placed forming a pyramid structure in order to express the fact that one of the reasons that I am currently analyzing the trends in COIN price action in this way is to try to establish a possible price base of COIN after its IPO fallout to use as justification for a possible and timely buy in. And here we are, 50 cents above that initial low point after the IPO. Will COIN continue to roll downhill, or will it start bouncing higher? I am not completely sure, and tomorrow this chart may look quite different than it does now. It's fascinating. Got my eye on COIN... watching for a "heads bulls win, tails bears lose" scenario. //Durbtrade
NASDAQ:COINLong
by Durbtrade
9
BB - The little fruit that couldBlackBerry. BlackBerry is a company that has all the odds stacked against it. Hedge funds, analysts, triple letter Government entities (looking at you SEC) and shorts. Specially analysts and financial social media outlets seem to have some sort agenda against pushing positive BlackBerry articles. BlackBerry social media has been very active and this is being actively ignored by financial social media outlets. BlackBerry is fighting the greatest battle it has ever fought. What are we seeing? Volume, volume has been low during the past month. My thought is that LONGS are holding their positions tightly and have no reason to sell (this kills the crab). The volume we see is mainly shorts making a quick buck and what very little swing trades that can be had. Price has been moving from $13 to high $8s. Accumulation being done at prices lower than $10. MA-200 This week we are very close to making contact with MA200 line. I think we may touch the line by today's close. This worries me a bit because ER is next week and we could easily drop from given all of the odds that are stacked against $BB (see first paragraph). ER BlackBerry ER is next week. Depending on how good (hoping for this) or bad (very unlikely, but that is just my bias) it is we will see the price drop further down into the $8 realm possibly $7 dollar realm. We should have no issue recovering from this and any accumulation down there should be highly encouraged. Remember we have the odds stacked against, that is no longer an opinion, there is plenty of evidence. Final thoughts You can observe in the chart the story being told by the pitchfork and pitchfan. BlackBerry has an enormous upside potential, we are just facing some public sentiment battles that are being totally manufactured. BlackBerry fundamentals have not changed, John Chen has formed many alliances, everything points to a strong $BB future. We will eventually weather all these conditions.
NYSE:BBLong
by dubhan
7
BTC Are You Still Long???Quick idea. There is a double bottom, and we are retesting the neckline now. This seems to be a very strong support with the support from: 1. Neckline 2. bottom of megaphone 3. 0.25 pitch fan level 4. Accumulation area Based on the double bottom my price target is around $67k but also marked in the chart some more price targets as a green rectangle. One last thing is the RSI is in a support zone on the 4h and it is oversold in CCI indicating it is not very likely that the price will continue down. Overall: You may want to wait a little longer to see if we hold above $55k, but a long here is fairly safe and watch to take profits around $65k+. The best way to support me and get me to release more ideas is to follow, comment, and like. Thank you.
BITSTAMP:BTCUSDLong
by Sicklezi