Possible moves for BTCUSD pair - A Wishful Thinking Breakdown for red colored downtrend line rejected several times, after the 5th wave with all time high. It's obvious we're in corrective phase. I think A-B waves are over and currently we are facing with lower C. Head and Shoulders pattern fits with the Ellioth waves. Also there is no any strong resistance after de 3400's to the 3k strong resistance. I think and hope BTC will retrace to the 50 days MA approximately to the 2400-2500 range.
PS. My first TA. if i'm wrong please correct. :)
Projection
Last Correction [(after $3,000 peak) (Possible Third Scenario)]Just looking back on history, I see an ABCDE wave with 3 lows. Sometimes history repeats itself. Wouldn't be the first time. Just another possibility of the corrective trend we are in right now. If this is the case then we are in for another low point (Which holds true to the general 1st scenario I posted), and it touches the 38.2% Fib retracement. I doubt we are going to $1,900 in the $5,000 peak though. Probably near the 50%, or so. Around $2,500-$2,700.
Just another idea I had. I try to figure out many possible scenarios. Essentially this is gambling in my opinion, but the odds are much better.
Trading News ReleasesFor those who consider U.S. Major News Releases in trading, here are projections for the upcoming week's session:
** Projections ONLY **
GDP Growth Rate : From 2.6 to 2.0
Employment Rate : From 4.3 to 4.4
Inflation Rate : From 1.7 to 2.0
Interest Rate : From 1.25 to 1.25
Government Debt to GDP : From 106.10 to 106
Goods Trade Balance : From 43.6bn to 45.0bn / 46.6bn
Nonfarm Payrolls : From 209 to 165
Nonfarm Payrolls Private : From 205 to 192
ADP Employment Change : From 178 to 186
Personal Income : From 0.00 to 0.29
Consumer Confidence : From 97.6 to 95.0
Personal Spending : From 0.10 to 0.30
Personal Income : From 0.00 to 0.29
Building Permits : From 1230 to 1150
Housting Starts : From 1155 to 1190
New Home Sales : From 571 to 550
Pending Home Sales : From 0.50 to neg. 1.9
Existing Home Sales : From 5440 to 5500
Retail Sales MoM : From 0.60 to 0.30
NY Empire State Manufacturing Index : From 25.2 to 9
Ism New York Index : From 62.80 to 57.43
Dallas Fed Manufacturing Index : From 16.80 to 14.3
Chicago Fed National Activity Index : From neg. 0.01 to +0.09
Philadelphia Fed Mfg. Index : From 18.90 to 12
Richmond Fed Mfg. Index : From 14.00 to 6
Full list can be found via provided url link: tradingeconomics.com
* PERSONAL REFERENCE ONLY. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Projection DE30, looking for year high 13700~From a 100% technical perspective, my chart is telling me DE30 looking for top of bullish channel since post subprime crisis rally. Before this happens though, I'd like to see a drop to 12316 - 12392 (2015 high) for a healthy climb the coming weeks. So to conclude my thoughts I think we've seen swing high looking for swing low to a new all time high that might roll over very fast because of the lack of confidence in stocks that are already overvalued.
PLNX:DGB/BTC Chart ProjectionSo looking back on Digibyte it has done this spike to .0000100 before however the current spike is running off the same juice all alts are since the winklevoss ETF was denied, money started pouring back into alts once people realized bitcoin wasn't going to double that day. so while it might come down i think its upward trend since the 3/10 will at least be maintained. There's a buttload of volume still going on, also i've been researching the company all day today and they have a solid idea, relevant currently usable applications, yadda yadda yadda in other words as good of a chance as any other coin out there and its really really cheap right now so why not. I only went in for like $10
My NXT Projection (NXT/BTC, Poloniex)Looks like NXT has a nice pattern. Will be interesting to see what it does.
My projection should place our top on the night of Sun May 21 to morning of Mon 22.
GNT - life after the pumpso bitcoin did its thing and now the alts are getting back to the upward trends, some more then others. will keep you posted.
BCNBTC I see here potential for big returnsWhen I'm looking on chart I see big potential for big movement some time in future. Pair established solid support between 4 and 6. I would like to see round number like 5 but it is not case here. This support area holds losses for almost 6 months. I don't see any candle formation or any other known to me pattern which I could apply here.
I see here potential to double triple or quadruple of stake.
Risk is that pair could go down to 1 that's why I wouldn't put stop loss because I strongly believe that there are pending orders just below 6 which will give boost to rise again.
Look at the huge doji candle from 31st of may. This pair has potential to rise up for fourth time in my opinion.
If you would like to take my advise and trade it I would suggest to invest only stake you are comfortable with and don't expect returns in short time. Just invest and wait till it will reach your desired level. I put in chart some levels I believe pair will hit in future. Pair is testing round number 10 for time being.
1. Green I'm pretty sure (this one is based on highest high from 2015)
2. Orange It is probable ( round number )
3. Yellow there is a small chance based on Fibonacci projections
4. Blue maybe based on Fibonacci projections
5. 361.80% who knows
Worst and best (Current) Case senario on $MYLRisky short term trade. Best and worst case scenario with targets for breakouts. Risky. If this lifts soon you know when to buy and sell.