(BTC) Are the bulls back?!?! NO!!!...But change is in the air!!!Alright folks, I know I dropped a COINBASE:BTCUSD analysis for you yesterday (and its held solid!!!)....but I felt like it would be beneficial to provide something less "predictive" and just drop some facts.
So as I said, no predictions today, just facts!
And I must say, these facts look real promising; all signs point to a significant momentum shift in the recent trend.
Enough babble, lets lay it down!
1. The most recent major peak was the first since things turned bearish to break above the ATH overhead resistance.
2. The downtrend from this peak has been significantly less impulsive than the prior major peaks.
3. Although things may be dipping a bit COINBASE:BTCUSD appears to have formed a new minor support above the previous minor channel.
4. Swing lows on the MACD are not only getting higher, but they are now diverging further from their low support for both the signal and MAC.
5. The MACD volatility has dropped off significantly since the second major peak.
6. The MACD is spending significantly longer periods above the zero line.
7. Last but certainly not least, we are seeing convergence of the 24% fib retrace, the july-november low support, and the major overhead resistance.
So in short... are we out of the woods yet?
Absolutely not.
BUT with all of the signs in front of us, I smell the perfect storm for a significant breakout assuming we can smack through that overhead resistance!
*** Note that the MACD RSI crossover strategy I've written has the RSI hidden, and that the earning results are irrelevant as it used for cleaning up major trends NOT buys and sells.
Remember, TA is neither investment advice nor a guaranteed result, but rather an informed prediction of historical and emerging patterns.
Good luck and happy trading!
Austin Doyle
CTO
Crypto Playhouse
Swinglow
EURNZD 4H New Trade Setup - RSI 80-20 Reversal LongPair created a new swing low on that invalidated the 1st 4H trade setup.
Now the rules of the RSI 80-20 Reversal have been met.
1st Swing Low (SL)- oversold RSI - 2nd new Swing Low - buy stop at high of 1st SL
New 30m Timing Trendline drawn
Entry at 4H Buy Stop
Take Profits will be shown on update
XRPUSD 2H Lower Highs Lower LowsPair has failed to make a new swing high
Price is making lower highs lower lows
Price can bounce bullish off 50 sma or break below it
Price can consolidate between 50 and 100 sma
As price falls from 50 to 100 sma it can go half way and return back to 50 sma
If that happens price can move above 50 sma and rise to swing high target
Or price can bounce short off 50 sma and fall to 100 sma
If price breaks below 100 sma it may fall to swing low target
Watch Macd in relation to Macd red line, 0 level line, Stoch blue dotted lines
LTCUSD 2H RANGE TRADESLTCUSD 2H RANGE TRADES
Long Trade
Entry breakout above 50 sma
1st Take Profit Range Top @ 184.78
2nd Take Profit Swing High @ 211.65
Short Trade - My Bias
Enter on 15m chart
1st Take Profit Range Bottom @ 167.58
2nd Take Profit Swing Low @ 143.35
Short Bias - Macd is below both 0 level and Red Line
ETHUSD 2H TRIPLE TOP ASCENDING TRIANGLE Pair just had a bearish breakout of an ascending triangle lower trendline.
Watch 15m for a break-hook-go to confirm bearish move
Watch hook portion if price returns into triangle as a head fake
1st bearish take profit fractal/swing low
2nd bearish take profit swing low
GBPCAD short term analysis.Looks like the swing highs and lows are all following a descent pattern or some sort of channel.
Hoping that another swing high happens so I've placed a limit order with a considerable enough stop loss and a big take profit however, once price hits take profit, it should bounce back up due to previous support level and that the trendline shows lots of support even going down trend.