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Pitchforks

Will the bulls regain control above the channel?Right now, BTC is experiencing a correction. If this is merely a pullback, it will rise again and break the narrow, right-descending channel. Will the bulls truly regain control in that case? I know that I am making assumptions on top of one another. Still, given that there is a recovery to 28k, turning back at the 1.382 retracement or a pitchfork channel (light blue) is possible, which could form an expanded flat (ABC). The chart would then allow for a W-X reading, a price conversatio reminiscent of a WXY double zig-zag. Although only hypothetical, such a double zigzag would answer the apparent shallowness of decline due to the head-and-shoulders breakdown. So in my previous article , I suggested 25200 would be a key in bullish scenarios, but 28000 should also be what to watch.
INDEX:BTCUSDShort
by jackrabbitrage
Kucoin Special | KCSKucoin has been a pretty solid exchange, their API is fast and responsive with no real downtime or crashing issues unlike some of those other guys (ahem . . Freebase . . I mean Coinbreaks, etc.) Their native token KCS is a beauty. I had a previous idea posted for it but it's not showing in my ideas stream for some reason. I tend to use charting tools in unorthodox ways but I make them work for the sake of profitability. My previous featured this larger pitchfork and I'd set my 3rd point on a purely theoretical / eyeball basis. Turned out to be spot on. If you follow any of my ideas then you know I pretty much just rely on Fibonacci, Pitchforks, Harmonics, Trendlines, 50/200 EMA's and Volume for my forecasting. The rest is literally eyeball, some light fundamentals which both lead AND lag price actions and then the last bit is intuition and having seen enough to know the good/bad when it comes to price direction. I'm not 100%, most people aren't but I do well enough to outperform the masses and even of you're 51% right, you're still making good trades. Enjoy! * * * Not Investment Advice * * * Box
by FudBox
MATIC | Golden Cross Potential & Looking PumpableDropping this idea for a good TV buddy here who was about to shart it. I have no fundamentals atm, just pure TA and hopefully it plays out well for you. Key Features : 1. Reverse Fib from High 2. 50/200 EMA's heading for convergence / cross over above 3. Pitchfork (theoretical) looking like it wants to fill the upper channel 4. Volume Profile looks a bit supportive and converging with EMA's 5. Market over all in relief mode For the sharters, I'd look for something a bit higher as indicated by the arrow. I wouldn't necessarily long this here but I can't say it'd be a bad idea off the 236 reverse Fib, there's a slight reversal pattern / bottom shaping up in there too but DYOR. Again, I whipped this up on the super fly, totally jammed over here. * * * Not Investment Advice * * * Good luck!
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by FudBox
What if we are still in a fifth wave? There is the market observation that the BTC price has already bottomed out. True, the solid rebound for around 21500 was reminiscent of the start of a new uptrend. If we are already in at least a short-term one, as the bulls would believe, expecting a retracement back to 0.618 (35712), 0.786 (41214), or even 0.886 (44489) level first is convincing. Here, however, I would like to focus on another possibility. What if we are still in the middle of the descending fifth wave? The Pitchfork and Gann square may indicate there are supports and resistances that such a move would fit in. After all, unless 25200 zone is clearly exceeded, we cannot completely rule out a move toward the new low, in which case it's possibly below 14000 (9500-12500 is likely).
INDEX:BTCUSDShort
by jackrabbitrage
6
Pitchfork Resistance: The last resistance in the downtrendBitcoin has overcome many resistances in front of it and now it has reached the last stage. The last important resistance is ahead. Pitchfork resistance. A break of this important resistance could be the end of Bitcoin's downtrend. Of course, it should also be added that the strong upward trend of Bitcoin was surprising to me when other financial markets, including the US stock market, did not show strong upward conditions.
BITSTAMP:BTCUSD
by cryptoonchain
1
XRP | Unlocking the Secret Bonus LevelWelcome XRP friends! Wondering where we're going? Here are some things to consider : As we come out of our US Thanksgiving Day food comas, we're looking at some decent gains on the most recent run BUT, you're asking if this is it? Honestly, I think it still has legs for the 0.45 area where we find resistance at the 200 EMA Look at the fork and see if it makes sense to go there, I think the Fibonacci's all suggest it's possible. Remember, XRP ALWAYS pumps before mad dumps and there's still a ton of overhead selling pressure if you look at the VPFR, Look at all the volume that went into the 0.50+ range before the most recent selloff. Check out recent statements by Ripple CTO regarding ETH looking more and more centralized as a result of much of the network relying on AWS servers. What a comedy show and Vitalik looks more tarded with each passing day. Bitty is also having plenty of negative light being cast, I can't see us NOT having more down. Anyway, see you at the bottom . . eventually
by FudBox
11
Pitchforks Follow Normal DistributionPitchforks are a very popular TA tool and easy to use. However the fundamentals are often glossed over. For example, many beginners and vets don't know that it is based on Normal Distribution which has 3 Sigma Limits . This is commonly referred to as a "Bell Curve" . It's a natural rule of thumb used in Statistics and Probability Theory, for all manner of sciences. The 3 Sigma Limits are 3 Standard Deviations from the median line, which is located in the center of the mean distribution of data. For us, this data is price action. The 3 Standard Deviation on a fork are: 1st STD DEV from -0.5 to +0.5 2nd STD DEV from -1.0 to -0.5 & +0.5 to +1.0 3rd STD DEV from -1.5 to -1.0 & +1.0 to +1.5 The 3 Sigma Limits Rule is also known as the 68-95-99.7 Rule. What this means is, while in a trend, natural price action will: 1) Remain within the 1st STD DEV 68% of the time. 2) Remain within the 1st & 2nd STD DEVs 95% of the time. 3) Remain within all 3 STD DEVs 99.7% of the time. What about the remaining .3%? Usually breaking out of the 3rd standard indicates the trend is done, however .3% of the price action can fall outside of the 3 STD DEVs and still continue the trend! This is a rule of thumb for natural law, but stock market price action can be manipulated! If the price action doesn't fit the Normal Distribution model, then it is likely unnatural. Also, since our data never stops coming, the mean can move over time, while staying in the same general trend; making the previous median lines invalid. If a unnatural amount of your price action is falling outside of the 1st STD DEV, then your original median line is likely invalid. A new pivot should show itself to correct the median. That could be what's happening here on the chart, if the bear trend continues back into the fork, with so much price action outside of the 3 STD DEVs. You can draw a new pitchfork on the pivot from June to August which would include more price action. I will include that below.
CME_MINI:ESU2022
by Nicklaus68
31