Bullish Counta solid daily close above the trend-line would suggest a valid break out and would suggest wave (3) rally could be under way
note
alternative count in grey
Trendchannels
Turning Point?It might be bit early to call the end of bullish rally since late December 2018. But we could certainly have a count that shows wave (C) of {B} has reached it's peak.
Bitcoin (#BTC) Head and Shoulders ends current uptrendI threw away my idea about the major resistance as a profit target. Based on current price action and technical indicators, I likely expect the price drops down. If the idea about H&S is right, we could see one last leg up to $5350-$5450 zone before the price goes down. Then I expect a retracement at around $4800 and then another drop to the lower channel line, at around $4400 and maybe deeply to $4200.
On a daily chart, Bitcoin marked $4980 as a support zone. If we try to measure H&S pattern, we see that it plays quite well as a H&S neckline. However, the price has already hit this area three times (white arrows), which means that more and more liquidity is taken and support becomes more weak.
This is a short-term trade.
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BTCUSDT H4 Uptrend ContinuationThe pair have a good uptrend run since it's sharp decline on 23 Feb 2019. I am seeing it to continue somemore if it breaks and closes above the immediate resistance line (blue dotted line). Major supply level at 4162.
If price comes down to my prz levels between 3892 - 3912 I am interested to take a long position. Take note these harmonics completion levels are also near the bottom of the trend channel. For those who studies Supply and Demand will know this range is around the Demand Level as well.
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USD/NOK - POTENTIAL OF BIG MOVEIn this analysis we have a lot of strong bullish signs. I have to remind that we are in bullish MID-TERM trend and we have spotted near the bottom. It was 0.618 Fibo as good point for long. There is still open move for 0.786 Fibo but i really doubt that we could move there (it would be bottom of trade channel).
Bullish signals:
0.618 Fibo retracement correction
Falling Wedge (bullish) or it could remind bullish flag after big move
RSI trendline broken.
What to watch:
A good entry would be after short-term EMA breakout up and falling wedge too. In this trade we could see a big potential move without confirmation so watch the reaction in the edge of resistant line (Falling Wedge).
When the market bounce down, we could see another retrace up in the 0.786 Fibo near 8.50-8.47.
Targets are SET:
TP1 area -> 8.68 - 8.73
TP2 area -> 8.78 - 8.86
When the market breaks the upper trendline of Falling Wedge, so SL could be 8.56 or when the market tries to check 0.786 Fibo (8.50-8.47) SL -> 8.46.
GL.
