Fibonacci Speed Resistance FanHere is my take on the speed fan. This is a must have for me on my charts. Give it a try (the arrows show support while the fingers show resistances that respected the fan)
Speedfan
Fib speed resistance fan lessonTake a look at how well the fan lines up with the candles. I cant believe how well this tool works. I put arrows on a lot of the areas that acted as support/resistance so you can clearly see this Fib speed resistance fan is useful. The way you place one on the chart is very similar to a typical fibonacci. (I put fingers pointing at the 2 points I used when I drew it) There are numerous ways to place one on a chart but I think this particular placement gave me the best results. I have to say this is one of my favorite tools now. If you have any questions drop them in the comments.
TA for 1H chart for #Bitcoin #BTC - Fractal + Entry/Exit points
First of all, this is an EXERCICE and it's not financial advice!
Having said that, this is what I'm waiting to happen (more or less, of course! Actually, that fractal fit's quite nicely with the projected Speed Fan levels and I wouldn't be surprised to see it happen...
On this one, I've tried to "simplify" the TA as much as I could leaving only in highlight the levels that have been and may be important as time flows. So I've "hidden" most of the building blocks of this TA.
Those lines are Speed Fib Fan Levels that will act as dynamic support and resistance levels (it depends on each way the price is coming). I also have a basic highlight for the 2 Fib Levels I consider the most import and that form the "Reload" and "Take Profit" zones.
I've also added those markers to pinpoint exact moments in the future that I think Price will visit. The green ones: go long / the orange ones: go short.
Since this is the 1h chart, this will play out fairly quick in comparison to the daily chart's I've been posting lately.
This will be fun to follow, or I'll get this right or I'll miss this totally! either way, as I said before, this is an exercise where I'm testing concepts and ideas and between that, I share this idea whatever the outcome ;)
DGDBTC - Possible 25% gainer with more potentialDGD is a coin that has designated itself as the stable coin of the crypto world, its use similar to precious metals in a bear market.
Viewing the chart on the 6 hour chart, we can see through VPVR that there is good support around the high .020s region, protecting DGDBTC from breaking out of its trend channel. However, what's also seen is its resistance levels above it around the 0 level Fibonacci extension. MACD is very bearish, while RSI is starting to trend up but has not made a convincing strike up.
On the 2 hour chart, the 48EMA is about to cross under the 100EMA, DGDBTC is stretched far out of the Bollinger bands, RSI/MACD aren't looking so great either.
However, it's wicked up from the -.236 Fib extension, making a double bottom on a support level. It also has not broken the Fibonacci speed resistance fan's .382 level. We may see a reversal now, but due to its the indicators I believe that the best option would be to make orders in down to the bottom of the trend channel, with a stop loss near the -.382 Fib extension level. It may also be wise to take profit at levels before the target.
ETCUSD - Risky play: >70 RSI, top of downtrend, but x2 flag?!Super short term trade! Would not recommend. Mainly doing this for future documentation.
Coins that are being bought for a fundamental reason (see $ICX, $VEN, $NEO) are able to do what other coins can't, and that is hit 80 RSI with ridiculous breakout continuation patterns. The fundamental reason for ETC is the airdrop (and the fact that it has one of the highest traded volumes this past week lol)
I think ETC will correct once more for the flag formation and and once the long orders eat it up the price will breakout once more as everyone else FOMOs in.
As of writing, my long is in the red. I'd said bull flag failure is pegged right at $35.00. Because of that, I will ladder my stop losses and hope my limit orders hit at $36 and $37.
BTCUSD - Still have time to play alt coins!Note: this idea is extremely time constrained and may be irrelevant by time you read it.
1 hour just closed with a doji candlestick! We still have time to play alts as long as BTC is carefully watched.
+ Closed right on the 38.20% retracement (peak is drawn from $11185.10)
+ Jumped speed resistance fans like it was made for puppies
+ BTC can definitely drop a few dollars and ride the fan line, no $100 drop (yet)
- RSI has flattened out
- Price stagnation and a bad candle close can lead to a big dump (or a pump but it looks bearish as of posting)
+/- Inside main trend channel. Good because we're safe, but we may hit the bottom of it if support fails.
- Extreme divergence from the two moving averages. Usually when this happens we're bound for a correction.
- Buy volume lacking
Stay safe out there!
ICXBTC - Bull flagging on the 61.80% retracementTo note: no long term channel has been established yet due to how new this coin is, meaning that there is risk involved dealing with it; akin to investing in a startup company. However, fundamentally ICX stands above most other new alt coins due to the sheer amount of partnerships they have.
MACD and RSI are looking alright and ICX is undervalued due to BTC value tanking. Breakout is yet to occur so a better entry can be found within the flag or above it for confirmation.
Looking good on the 12 hour chart. Dancing on top of the 61.80% retracement and has yet to break the 38.20% speed resistance fan.
BTCUSD - Small dip before a dump (then a run)We're going to hit the fib line and RSI is at 70. I am expecting a few hundred dollars dip before it resumes.
Then I believe it will dump a >$500 at $12,000. Not sure if it would break the speed resistance fan line, but it can rest on the next price trend line like it has done when we hit $9,000.
Overlay shows either shorts increasing or longs have been closed; either way, I am expecting pull back at this level, but I am certain that going under $10,000 is going to be very difficult for BTCUSD.
BTCUSD - Predicting with Volume Profile FR, Speed Fan, and FAPredictions for short term (1-7days): 9000-11500
Drop: $9700 - $9800 - $10050 - $10300 - $10500
High volatility possible in lower 9k region if we go there, 8k lowest if something crazy happens, ex. extreme bullrun
Based on Vol Profile and retracements.
Up:
$10900 - $11500
Barring a huge dump, I believe we will continue to consolidate in the $10,000s region. Then riding along the price trend line around mid $11,500s.
Short term, >$12,000 is hard as we would need to cross up a speed fan line.
Parameters:
Volume Profile, Fixed Range (VPFR)
Speed resistance fan goes from trough to current peak
Dashed trend lines are the price trend lines that I have found BTC to be riding. Zooming into the 1 hour chart shows a story.
Why I chose 18 Jan. to start VPFR and retracement: I wanted to have a month's worth of data only to go off of. It makes it easier to find identify price trends on a smaller scale.
Why I chose VPFR over VPVR: It allows me analyze a chosen section and keeps the same values even if I change scale.
Speed Resistance Fan
The lines act as supports/resistances. Drawn from trough to peak, it uses the Fibonacci ratio and is best with the Fib retracement. You can see BTC bounce in between the 1 fan and the .786 fan lines. If it falls through, the next fan is support. I don't believe we'll cross the 1 line soon.
Volume Profile (Fixed Range)
VPFR shows traders where the most trading took place, price range wise. It's a flipped axis volume.
VPFR shows the largest trading volume took place in the $8,000-8,800 range, as well as the $9.800-$10,550 range, for a month. In our case, we can see that the reason for this is because of consolidation and reaching our old price ranges again. And by seeing where the most trading volume lies, we are able to predict that it is a point of support for us.
VPFR has 3 lines shooting out of it. These can be turned off as they only serve to provide redundant information as an overlay; it is still helpful if you need it to see Volume Profile's values over the entire chart.
POC: Point of control. This just shows the peak trading volume's price range. If value falls through the VA region to the POC, it can be seen as a strong support.
Developing POC: This line shows where the POC has been before and where it is now. It can also be used as an overlay to show the peak volume region on the candlesticks.
Developing VA: Value area. This is the region that has the most trading volume. If above it, it can be seen as a support. If below, it can be a stiff resistance.
Fundamental/News Analysis:
Bitcoin usually drops on Monday. In conjunction with rejections at $11k may be cause for concern.
SEC Suspends Trading In 3 Companies Due To ‘Questions’ Around Cryptocurrency Ties : further legitimization of crypto as a currency by regulating it. Note, all three companies are owned by the same individual.
source: cointelegraph.com/news/sec-suspends-trading-in-3-companies-due-to-questions-around-cryptocurrency-ties
Most family members have met together already for Lunar New Year's. This means that any money to be taken from crypto has been taken; we might get some new money in a few days when they clear their red envelope deposits.
Futures from established firms: Although the futures are a fraction of total market cap for Bitcoin, we must keep in mind that our markets are segregated due to KYC/citizenship laws. There is also the psychological factor that may cause it to lower.
Psychological barrier at $11,000: for every $1,000 we hit, there are shorters filling orders. How much they can short depends on how profitable it would be for whales to drive the price up.
No clear support: we rose quickly with little time for correction. VPFR is showing that we have had a high amount of trading in the lightly highlighted zones. The right axis shows the price points of those areas. I believe those will be points to watch.
EDOBTC - Possible 4 day cup and handle creating handle nowTools used: Fibonacci retracement/speed fan/channel
RSI: val. 14 on the left, 28 on the right
It's a rather shallow cup but interesting to watch how it plays out anyways.
Entry: about now, or when the value goes past the cup (right when it breaks out to be safe). It will be considered a failed cnh formation if we hit more than 50% retracement on the cup.
Exit: stop loss at 50% retracement on the cup, or if BTCUSD is doing you dirty, or at around 3470 sats. I would keep maybe 10-25% of the coins if it does actually break out to thsi region, as the cup is very shallow.
I wouldn't put too much stock into this, but definitely a good one to keep the eye on.
ETHUSD - Consolidation phase of a bullish pennantFaster EMAs are about the cross over the 55EMA.
RSI and MACD looking bearish yet still holding within trend lines indicating consolidation.
Passed through the Fibonacci retracements and speed fan lines like a breeze.
NEO growing at a steady pace over past two weeks (*sans yestday)Steady growth for NEO over past 2 weeks. Yesterday was first it fell out of line and snapped back pretty rapidly. No moon in forseable future, but consistent gains against BTC.
*looking to get into chat. Please agree to help with reputation. I'm awesome-ish.
X marks the spot.Target 1: intersection of 38.2 bull and 50 bear fib rays.
Target 2: intersection of the 50 bull and 50 bear fib rays.
Bband kissThis pair has just reach an important support and the daily made a nice hammer together with the Bollinger band kiss.
Thanks for your comments and good luck.
LONG NOW, 1ST TP 83.9, 2ND TP EVEN HIGHERDOVISH statement by BOJ and ECB, Cause the asset price jump up. While, the carry trade could possibly continue, the AUD could jump back to upppter trend with the asset price, BOJ as I said few days ago, they can't let the JPY to appreciate further. This will hurt the export company and bring down the headline inflation.
With the fibonacci fan speed resistant line, we would see the longer term up trend. 0.5 could be the ultimate support line of the upper trend. Watch closely. The profit room is unlimited. the SL is set back to the middle of the trading range.
Long CADJPY: Crab + Bat + AB=CD + Fan + Pivots + SR + DivergenceCADJPY has entered the PRZ of a series of bullish harmonic patterns in an area of strong support. The PRZ, which is formed by the combined reversal zones of a bullish bat and crab, may also be tested near the .5 Fibonacci speed fan line for an added level of time-based support. On a larger TF, a bullish AB=CD pattern is complete in the center of the PRZ. There is also a weekly .618 Fibonacci retracement level from structure low to structure high in this area. Five missed weekly pivots and one missed monthly pivot sit above price to add to the bullish bias. In addition to all of these factors, bullish divergence is printed on both the MACD and RSI oscillators. Entry is placed at the .618 retracement level with a stop loss below the S/R zone. Target is placed at .382CD (AB=CD pattern) which coincides precisely with the nearest missed weekly pivot and significant structure highs. This setup yields a R/R of about 3:1.
Confluence in the PRZ:
Bullish AB=CD pattern completion
Bullish bat pattern completion
Bullish crab pattern completion
2.5BC projection (bat + crab)
2.5AB=CD (bat + crab)
.5 Fibonacci speed fan support
Strong S/R Zone
.618 weekly fib retracement level
5 missed weekly pivots above price
Missed July, 2015 pivot above price
Bullish RSI divergence
Bullish MACD divergence
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Long EURUSD: Crab + Shark + Fan Support + S/R ZoneEURUSD may potentially complete a pair of bullish harmonic patterns within a very tight PRZ. The PRZ is confluent with a horizontal support/resistance zone and depending on timing may find added support from the .5 fib fan taken from structure low to structure high. SL is placed beyond 1.272XA with targets at .382CD and .618CD retracements of the bullish advanced patterns.
Confluence in the PRZ:
Bullish shark pattern completion
Bullish crab pattern completion
Strong S/R zone
.5 fib speed fan support
TCT
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