Comparing BTCUSD sell-offs and what to expect now.Chart says it all.
I'm looking for a capitulation style sell-off that could reach about $8,000.
Look at the sell-offs from 2500-1800 and from 3500-2800.
EMA 850 looks like a very strong bounce line but we can dip slightly below it.
The one thing I'm worried about is the lack of real support since we pushed through 7k very fast.
Let's see what happens.
Don't invest what you cannot afford to lose.
Don't over-leverage.
Selloff
BTC looks bad short-termBTC broke out of its resistance, but then swiftly broke through several layers of support, as you can see in my previous analysis here:
This is my prediction of how the future movements will be.
I expect 11.8k support to hold, with perhaps a long spring to 11k. If that support does hold, it will recover all the way to 16.2k.
EURUSD Gap-Filling Rally (Long)Actually there are no clear theme/sentiment today (no fresh news on Eurozone side i.e German Coalition, Monetary Policy worries or confidence, anything on QE?, anything on inflation, U.S Tax Reform mania have faded.. what now?) so I go back to the "bigger picture" right now :
1. Eurozone is in economic growth (bullish for EUR)
2. They tapered the QE and thats an outlook for future tightening (mildly bullish for EUR)
3. Market have fully priced in for the Federal Reserve to raise interest rate in December, so they yet to see fresh news on will the Fed raise further rates in 2018. At the time being, dollar is "neutral" today (mildly bearish for USD)
Technically, weekend gaps always gets filled eventually. Technical USD selling could push EURUSD into the weekend gap.
Top forming for BTC?BTC is about to complete a H&S pattern. However, what gives rise to an even more bearish outlook in terms of a potential sell-off, is that a drop from the lower high could surpass the prior low and support of 8000. If this happens, and especially if also the lower orange support line is crossed, I'm expecting a significantly deep sell-off.
However, I'm unqualified to give any financial advice - which this is not - and this is just my own opinion :)
Bitcoin Short Term Trading Opportunity - September '17 Bitcoin in next few days needs a correction to levels over 3800-3900 - more aggressive traders could enter in long positions till 4700 U.S. Dollars per coin. Over these levels 4700-4900 crypto-currency will slow down and price action will establish the new downtrend movement. Risk-reward ratio is the magic 7.77
U.S. Oil SHORT: OPEC can't save itself.Being the cinical oil bear I am. I will be shorting USOIL after the huge downturn on Friday. All indicators are bearish with the STOCH RSI showing a lot of room for downside. Furthermore, I think Wall Street finally realized that OPEC is not willing to take initiative and will be shorting for the first time in months during the OPEC meeting at the end of November.
NZDUSD DESCENDING CHANNEL EXPLAINED!!!!!!MARKET ANALYSIS: The market has broken the huge uptrend channel and now its moving to a sell. Now in the lower time frame we have descending channel formation. We have strong support zone near the market price now. If the support zone is broken we can see a new lower low for a huge shorting opportunity. So lets wait and see what the market does in the coming days. Cheers!
EURUSD Resume Sell OffTo setup a short limit/stop order after the US CPI news half an hour from now. Entry is a few points from upper BB, with tentative SL near today's high (might still adjust it depending on volatility) and TP at the daily trend line. Might add another trade targeting the blue trend line which is the 2015 low once ADX yellow line moves up past the 20 zone.
www.dailyfx.com
W1:
D1: