If pattern could repeat ....Just joined the beautiful world of Tradingview 2 month ago. Testing out all the tools, I was looking for a solution to identify similar patterns.
Is there any AI solution out there? I couldn't find one, so I tried different stuff. I found this one on the BTC 1H chart.
Soooooo .... if pattern could repeat =)
Similar
Spot Gold XAUUSD Weekly chart : BearishSpot Gold XAUUSD, current price $1,861, this view is for medium term and not day trading ,bearish engulfing candle, crucial support lies at $1824 ( 61.8% retractment), if broken will see downward slide towards $1,688. There is lot of similarity to the pattern in 2012 when it created top and retracted back more then 38.2%, similar pattern is coming with downward slopping RSI and hence we may see more retractment. From the retracted level we may see price continuing long term uptrend and may move higher and see price testing recent highs of $2,075
the above view is for study purpose and should not be considered financial advice.
DOCK and MTH have very similar structures. DOCK might pop next.MTH/BTC just popped for over 60%, and I think there is a chance DOCK could be next given there similar price action and market structure. Time will tell. Bitcoin can always ruin the party, so keep that in mind. Also, if anyone wants to get a free stock from Robinhood, feel free to sign up using my referral link below. They also offer feeless cryptocurrency trading on a select few coins if you're in an approved state. I'll put an article down below for those interested in Robinhood crypto. I also accept BTC donations if you guys are feeling generous! :)
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Robinhood crypto article: support.robinhood.com
ETH wants this to be the bottom: Fractal similarity to BTCComparing the ETHUSD bubble pop from this cycle, to the BTC pop from 2013-2015, we can see some interesting similarities.
I don't necessarily believe that this has been the bottom, it is only interesting to note the very similar behavior of those two different timeframes on two different coins.
Market psychology is truly often very similar.
Now, what does this mean?
This means, that taking this comparison, we would have seen the bottom for ETH at around 80 USD.
However, since I believe that BTC will dump more, towards 2000 USD, ETH will also go hand in hand with that dump and dump down to around 50 USD, thus probably changing this fractal a bit.
Nonetheless, it is still interesting to see. ETH would like this to be the bottom it seems, but BTC doesn't agree. And since BTC gives the commands, I deem this chart to be of more entertaining nature.
ETH following BTC? Many similarities found.Hey there!
DISCLAIMER:
THIS IS NOT TRADING ADVICE AND NOT FINANCIAL ADVISE.
I AM NO FINANCIAL ADVISOR AND I AM NOT RESPONSIBLE FOR ANY LOSSES YOU MAKE. DO YOUR OWN RESEARCH, ONLY YOU ARE ACCOUNTABLE FOR YOUR ACTIONS!
This is just for me to see in some months of time how my idea went!
I have tried to find some similarities between BTCUSD and ETHUSD and have found some interesting stuff.
The chart you see on top is BTCUSD, the chart you will find in this text is ETHUSD.
For me it looks like ETH is hanging behind BTC with quite some similarities.
BTC:
- 1 month, 2-3 weeks until low after the big run up (70% down)
- 2 weeks until auto-rally high (97% up)
- 1 week, 4 days of down and up for retest (21% down and up)
- 1 month until the low retest (45% down)
ETH:
- 2 months, 3 weeks until low after the big run up (75% down)
- almost 1 month until its' high (133% up !)
- ??? 3 weeks of down and up for retest ??? (26% down and up???)
- ??? 2 months until the low retest ??? (around 50% down???)
What we can see is that ETH moves slower than BTC, I'd say it needs almost double the time for its' moves.
How can this help us now?
If we try to predict the future, one could assume that now follows a phase of *maybe* 25% down and up for a retest of its' high some days ago which, if we use the time it needed before it *might* need 3 weeks.
After that, *maybe* we will see ETH going down for about 50% which *might* take us a bit less than 2 months of time, according to how it moved until now.
To sum up: in my opinion ETH price movement is very similar to BTC price movement, it just needs *almost* double the time and is slightly more volatile in its' moves.
DISCLAIMER:
THIS IS NOT TRADING ADVICE AND NOT FINANCIAL ADVISE.
I AM NO FINANCIAL ADVISOR AND I AM NOT RESPONSIBLE FOR ANY LOSSES YOU MAKE. DO YOUR OWN RESEARCH, ONLY YOU ARE ACCOUNTABLE FOR YOUR ACTIONS!
This is just for me to see in some months of time how my idea went!