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NZD/USD - Expecting a Sell-Off ! Towards the end of last week, we saw some weakness on the US dollar across many of its pairs. This has given us some signs the dollar strength and bull run may be running out of steam but I would not short the US Dollar just yet. This weakness saw this pair gain 50 PIPs on Friday which gave a strong finish for the week. So far today there has not been a lot of movement. The US dollar has again gained some strength on various pairs and I believe there is more room to the upside for the Dollar highs to be tested once again. If so, this leaves a potential pullback on this pair. Immediate support is at 0.6600, which was holding as resistance until we saw a break out on Friday. This pair could come lower before a leg higher if any as we will need to watch price action around those levels to confirm. If we achieve this move higher we have a confluence for a target at 0.6700 as this is a former monthly support which is yet to be retested as resistance and in line with my Fibonacci -61.8% extension. This pair still has the possibility of moving lower and creating new lows below 0.6545 as the New Zealand Dollar is still very weak and open to another sell-off.
Short
by QW-Trading
GBPUSD picking up, catching the pullback!Well well, thats quite a jump in one hour don't you think? USD data came out today without any huge surprises, and now we are seeing cable jumping up. Is this the start of the bullish momentum? I still belive to see 1.2670 price before it but on the other hand It could be bulls takeover, but it's not happening without the pullback, and that's where we come to play. We see the zone from 1.2752-1.2770 very attracive for shorts. Tomorrow there's another high impact data coming out for the dollar (Michigan Consumer Sentiment Index) which will probably be the fuel for the movement. We need to see right reversal price action in our sell zone and we should be fine to reach our profits! Happy pip hunting everyone!
Short
by FXAN
Sell-off of Mt Gox stash of bitcoin worth $US1.7 billionKobayashi’s transactions published indicate that the mass sell-off of the Mt Gox BTC was potentially a driving force behind the December 2017 and January 2018 Bitcoin pricing slump. many are hopeful that with waiting for the next Mt. Gox court date, Kobayashi won’t be able to dump another load of coins on the market. But, in fact, the September 18th court hearing is irrelevant because Kobayashi already has been authorized to sell-off meaning he doesn’t have to wait to off-load more coins. But perhaps waiting anyway. In any case there will be a mass dump at some point. It emerged that the trustees of bankrupt Japanese exchange Mt Gox had sold bitcoin holdings worth $US400 million since the end of last year. Mt Gox has a stash of bitcoin worth $US1.7 billion that will be dumped onto the market at a later date.
BITFINEX:BTCUSDShort
by SeaSide420
1
BTC/USD Breakout Downwards BTC has traded sideways multiple times in the past, as we know this makes for violent breakouts towards the up or down side. The bollinger bands charted are constricting, suggesting potential volatility in the near future. The Triangle does include 3 higher lows , however since we are in a bear market it is safe to assume the breakout will be downwards. The RSI is not yet oversold or overbought, and suggest we may go sideways for a little longer. Overall, I believe BTC will retest that 6.1k bottom we saw a week ago.
BITFINEX:BTCUSD
by HarrisProng
1
ETHUSD : Trading update 7th of JuneFirst had a downtrending channel, recently price broke out of this channel, but finds it hard to break clearly. Matching up a zone of resistance and an area that looks like a double shoulder head and shoulder pattern, price is more likely to go down and test the lows for a potential bottom in the market. Conclusion: View is neutral until it either breaks the 630 or 490 barrier. Shorter term views, a more negative outlook, maybe price will retest at 630 and then drop off.
BITFINEX:ETHUSDShort
by VanSteenMarketResearch
[ETH] Levels and Zones to Watch if (when) ETH Continues DownUpdated the key levels I'm watching for potential bounces, reversals, consolidations, etc. on ETHUSD as we wait for consolidation to end after heavy selling last couple days. The last chart I posted showed a channel, which I was surprised had broken down so quickly and violently just after already strong bear moves. Volume is spiking here on the daily chart. As you can see I've got a No Buy Zone labeled, which we are currently consolidating right at the top of. This consolidation could be prolonged quite a while and might rotated about the $590 axis. The zone had no resistance on the way up and likely needs to be "Traded Out" so to speak. Below that, a POTENTIAL Reversal Zone could be around the top of the massive green candle we had in early April. That movement was so abnormal (in BTC anyways) that I think it's likely we'll go down to at least test that price before buying significantly. Scenarios: 1) We move sideways for a long time in the No Buy Zone then grind back upwards. (BULL, 50/50 CHANCE) 2) Rocket out above $600, little resistance, retest $590, strong support, Lambos on the Moon, yada yada yada. (STRONG BULL, LOW CHANCE) 3) Continuation Pattern forms and breaks down from No Buy Zone, then look for possibilities of Potential Reversals in the $475-ish area. This would allow us to establish a higher low and maintain convergence pattern towards an equilibrium. (BEAR, HIGH CHANCE) 4) Current leg of downtrend doesn't last, consolidation is short, drop straight through under $500 in the next couple days. From there, who knows tbh. Perhaps we bounce of the solid red line of long-term support, but it's too soon to say, could go even lower afterwards even. (STRONG BEAR, 50/50 CHANCE) Bottom line, at this point the bears clearly have the floor, we'll see where they place it.
KRAKEN:ETHUSDShort
by NYFinancials
[EOS-ETH] EOS-ETHERIUM KILLER ROCKS!Closed my position on this trade. Took a nice profit of 81.85% from this swing trade in 5 days. This was nice. EOS is completely overbought in my opinion. It has already sold over 12% and I believe will start dumping hard. EOS is considered to be the etherium Killer! This block chain in my opinion will rock into the future very well! PS This is not financial advice. Do your own TA, give me a like and support my channel if you like my content! Thanks CryptoBuzzAnalyst
by CryptoBuzzAnalyst
Detailed BTC Prediction: Ready Your OrdersBTC Forecast on the Four Hour: Bulls have defended against a short-term head & shoulders (on smaller timeframes), though momentum is slowing and a bear flag forming here on the 4h. We can expect a correction down to test prior price structure support around 7490 before continuing upward to attempt further bullish elliott waves. Two sets of fibs are drawn on the chart to indicate two fib levels around 7490 in addition to the structure support. Keep in mind we could overextend downward, or alternatively show more bullish strength and bounce higher than this target, but there is a strong probability of a retracement to this green region should bears push us down out of the current flag.
BITMEX:XBT
by serekamina
EOS to Correct Soon, Lock in ProfitsTaking fibs from the full price action (wick to wick) of its last major dump, EOS is now wicking down directly off the 618. Unless BTC shows more bullish strength on smaller timeframes, which is currently waning, EOS will have a hard time clearing the 618 and running for the 786 and the prior price resistance up there. The best offense being a good defense, consider locking in profits and protecting your capital if EOS gets a small pop back up to retest the 618, where a double-top would be highly probable unless BTC shows that further bullish momentum.
BINANCE:EOSUSDShort
by serekamina
ONT to Correct Soon, Protect your CapitalONT is on its 5th elliott wave and due for a steeper correction soon. Taking fibs from the initial pump (the black fibs), ONT has hit common targets so far: First the 261.8 and then the 500 extension, each receiving a decent pullback. Now a safe exit would be the 700 extension very soon, verified with the second set of yellow fibs where traders will be looking to exit the yellow 261.8 (near the black 700) since it will correlate with when wave 1 corrected after hitting the 261.8 on the black fibs. However, if BTC holds up OK without showing immediate signs of dumping, the pump could continue to the 1000 extension. Swing traders: consider protecting your capital and exiting the 700 and monitoring to buy the dip if it still looks strong to ride the 1000 line exit. Long-term hodlers continue to hold.
by serekamina