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Why I'm calling 6500 the Bottom Well more precisely i think 6200-6500 range, but we could be done! What is the point of the correction? A correction is supposed to beat you down, and make you give up. Then when all hope is gone, price moves up. First off the fear and greed index is at extreme fear levels, the rsi is resting at major support on larger time frames. We retested major support of 6500 from 2018. 5 wave overall structure where wave 1 resembles the length of 5. The correction's entrancement went just in between the .618 and the .50. That is ideal for a wave 2, wave 2 should always be a deep wave as it is fueled by sellers who don't are in denial of the upwards bull market trend. But mainly.... everyone, even most well known traders... are bearish, and I like that. What i am looking for now, is for price to stabilize, have a few bounces between the 11k range and 8k until year's end. Then we work towards welcoming the halving. Dont forget, everyone is freaking out and its still... still only November. As the saying goes, the BEST time to buy is when there is blood in the streets. And there is a lot of blood right now. Carry on, Not a financial advice, just my analysis.
BITSTAMP:BTCUSD
by Elliot618
A ROAD MAP TO WHERE BTC MIGHT BE HEADING TO (BEARISH THOUGHTS)By looking to BTC on a bearish perspective we see that it might be heading to lower level forming a WXYXZ triple Elliot correction, this is not yet confirmed but when drawing a shifted pitchfork we can see that the possibility for a retracement to the 0.786 fibs from the overall structure from 3100-13900 can´t be ignored. When measuring with a fib extension tool we can see that Y did 1:1 from 0WX, therefore applying the same rule guide set we might predict if heading to a WXYXZ type of correction at least a 1:1 extension from XYX to get the Z around 5400-5500 zone in confluence with the 0.786 fib and the median line from the fork. This scenario is not yet clear at this moment, we are very near the fork median line, it might bounce from there and get the fuel needed for the taking off for wave 3. The possibility of a bullish scenario is not out of play at the moment and we can still be in the retracement of a sub-wave 2 from the 3rd. My bearish perspective comes from observing big TFs where we have no bullish divergence what so ever, and bearish pressure is well noticed. I wouldn´t get surprised that we are in the way of finishing wave A bouncing from the median line for a B and follow further down with a C leg to complete the Z around mentioned targets, or at least a double bottom around golden pocket zone 7200-6900. This bearish view will be validated if the golden pocket zone from the entire structure does not hold the price and it breakdown from there, also the bearish view is invalidated if we bounce from actual levels and gain support above $10500 before one of these possibilities is confirmed we should stay over the fence just observing how price develop itself.
BITMEX:BTCUSD.PShort
by Psydrive01
Will BTC pull BCH to the moon as well???Is clear that we have an expanding diagonal with clear 5 waves in for wave 1, now retracing and making ready for a big 3, now seated on the 0.5 Fib retracement but expecting to drop lower to golden zone in confluence with the trend line to Skyrock to the 0.042 range the extension 1.618 from wave 1-2 counting we retrace to the 0.618-0.65 range. With such clear diagonal is not needed to chart in an exchange with more data, with all measurements confirmed this diagonal is a textbook trade if hitting the golden zone range. For more TA ideas follow my TA group in Telegram t.me
BLong
by Psydrive01
Might the Algos in the Golden zone hold!!!When looking to EURUSD the 1st idea popping up is the possibility of a double bottom around 1.08791 level, even if looking quite bearish heading down big time at the moment, we know that markets are driven by algos, buy-side algos are sitting at the golden pocket trying to push prices upwards. It is my personal opinion when looking to the left we find heavy market structure S&R around golden ration levels, it might help to hold the price and create some consolidation. Also, a rejection on DXY at the current levels and a downward continuation is from major importance for pair like EURUSD to consolidate and reverse upwards.
by Psydrive01
Rising wedge forming for further downward continuation With a rising wedge formation, a typical continuation pattern is forming and the possibility to see further downward movement at the end of Q4 beginning of Q1 2020 is the most reasonable scenario. It is clear that the pullback we had to the golden pocket and price rejection at that level opens the downside algos to kick the price lower toward the 1st algo target around 102.564. 1st the wedge lower support trend line needs to be breached lower and taken as resistance and only after that happens a downtrend, continuation is on the run. Crypto Scanner wave Oscillator is showing heavy bearish pressure on the big TF together with bearish divergence, also VWap is on the negative side and heading lower.
Short
by Psydrive01
BNB Elliot Waves Analysis - Bearish My Elliot Count of BNB So far we are still in a correction looking to complete the final wave 5. I used numbers instead of letters so that it is easier to understand for those not familiar with Elliot count. The waves seem to fall into place very neatly, the latest bullish momentum appears to be in 3 waves up, waves A and C both have 5 wave sub-counts. Since its a 3 wave move up, we are now expecting 5 more waves down to complete the final leg of C. Ignore the time frames as this can take from a few weeks to a few months. In my opinion we are going down to retest the height of the previous bottom. This whole move down I believe is wave (2) of the bull market, after this correction ends we can continue to wave 3 into late 2020 which I believe will take us to new all time high's on BNB. I drew a small birds eye view snapshot of where we are in the correction currently to give you an idea, hope it helps some people get the bigger picture. I am bearish short term and bullish long term. Not a financial advice, just my analysis. Good luck!
BINANCE:BNBUSDLong
by Elliot618
Possible Increase in XRP/USD Price in Near FutureAs you can see the white line is the EMA with a period of 26 and the red is an EMA with a period of 9. There is a cross happening in the price between both indicators. For any beginners the EMA is a lagging indicator so it helps to instead look at the momentum of the line rather than the current position, which is flattening. When the price of a crosses it's EMA -26 that means a short term pump is well within the realm of possibility. The horizontal line is to represent the support level XRP has found, it has 5 confirmation points within the last month if you zoom out to the 1M time scale. These points have been highlighted with yellow ellipses on the graph. I understand that the wicks drop through this "support" bar but that is because this is a rough estimation, what is more likely is that the support is within $0.02(2 cents) of that line which is pegged at ~$0.285(about 28.5 cents). If the trend does not break out to the upside it is safe to say it will settle closer to the support level and consolidate along that for some time as it has been for about a month.
BITFINEX:XRPUSDShort
by Bitcoinboy
Nano macro shows long, or RIP for a long ?Hello. I decided to develop you TA on something unussual, low supply, risky, volatile and less-exptected from lowcaps. Never take it as advice to trade or invest. Always do the research by your own. About project: Nano (formerly RaiBlocks), actually ranked #48 on CMC, is a decentralized, sustainable, and secure next-generation digital currency focused on addressing the inefficiencies present in existing cryptocurrencies. Designed to solve peer to peer transfer of value, Nano aims to revolutionize the world economy through an ultrafast, fee-less and decentralized network that is open and accessible to everyone. The Nano team brings together expertise in technology, strategy and business direction from leading organizations in each field. Also finally available to store in Exodus wallet : ) At my daily chart, you should spot a big blue falling wedge followed by MACD bullish divergence more than 1 year. IMO, next 2 months and Q4 could lead to create a strong new direction with increased volumes at daily basis. Only this wedge has target between 80-120% in fullfill. We can see retest of wedge, yesterday, with strong pullback today. Which confirming even more , I can say the main resistance to break IF here stayed any possible life. NANO could be opportunity, or dump to almost zero. I will never put a decent money here ! So take it like an example tuttorial with just my PERSONAL GUESSES... I like to underline this. For bulls, I like to see more uptrend holdng evidence, FIBO 382 above at first. Further, at weekly, MACD started lacing at summer and it's not crossed yet. Past WEEKLY close looks like a morning doji pattern. Maybe will do pinbar at MONTHLY timeframe before. So isn't very clean yet... However, maybe you will like to see something different like - BTC TA's ;- ) Sure, plenty of lowcap charts seems the same. I know. But here's one of my favs, with supply 133 million, all in circulation already ;- ) Blue-dashed bottoming curve is just sketched. You could leave your thoughts in comment section, or just leave a like, if you agree. *This is not a financial or investment advice. Never trade/invest, by my personal ideas.
N
by Emvo
Bitcoin Update 10-10-19 Good morning Altsignals Members, welcome to our technical analisys section again. Lets talk about #Bitcoin on the 4H Timeframe. Yesterday we experience a clear breakout of the parallel resitance on the 4H chart wich ride us to the previus support zone, turned now to resistance, between $8547 - $8805, so, we need to start closing candles above the $8547 level to continue moving up to $8805 and then take the next important resistance level around $9813. At the moment the sellers are pushing down into the drawed parallel channel wich could work as Bull Flag to continue the bullish escenario. $8103 is the most important support level to wacht, also if we break the parallel price range displayed on the chart we will go to this support level, so, could be used as a confirmation for a scalp short position, or long if we break upside. CFTC chair says ETH is a commodity and anticipates derivatives to trade in the U.S. soon - Fundamentals on ETH are strong right now, a bullish #2 coin can impulse bitcoin creating FOMO in the crypto market on BitMex. Other good sign to have in mind is a couple of big transaction wich were getting moved since yesterday on USDT up to 10M - This could means Instutional investors preparing funds to buy
BITMEX:BTCUSD.P
by OctopusXBT
07.10.2019 - BTCUSD Technical analysis (October Update)Hello everyone, This is October BTCUSD update. Since the beginning of October, the marked has been declining and resulting in significant battles for $8,200-8,000 range. The market sentiment has shifted more towards bears and we can see by the red daily volumes outnumbering green ones. It would be more practical to define a new short-term level of support of $7,800 due to the fact $8k support has been breached multiple times. For the past couple of days the market has experienced a slight pressure from bears pushing stoch RSI on 6H, 4H and 2H to bottom lows. Therefore, bulls reminded about their existence today with a nearly perfect set-up for breaking up the trend path upwards to $8,313.70. This move allowed building another descending triangle across three top price points: $8,800.56, $8474.13 and $8,313.70 and a support of $7,778.72. Despite today’s bulls, the sentiment is still quite bearish as bulls kept their short-term rally within the set-up. Considering recent pressure by bears, that rally was necessary. I would assume the market to descend throughout this week slowly towards $8k level and $7,778. I also suggest the descent should take another 5 days or a week. Personally, I will start building short positions now, whilst the price is relatively high. I would like to mention that this is not a financial advise but rather an observation of the market. Trade carefully and at own risk. All the best! Trade safe!
BITSTAMP:BTCUSDShort
by APLTD
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