Possible long break out (bullish trend) I see a possible breakout on a bullish trend depending on bullish bias.
What's your opinions?
Regards
Trendlinesmatter
Ethereum Upper Channel Trend Line Close to Confirmation. Greetings. An update. Continuing early warning of trend line direction idea. The upper trend line based on close together touches appears to be playing out well. If Etherium can now navigate the green rectangle of S/R then Etherium @ $300.00 a very real possibility. This update relates to my previous published idea. Trend line first proposed on September 21st at 09:30hrs GMT on Bitrage Slack Group. Trend lines and channels are my current chosen area of study.
Previous Lows in Jeopardy for ETHSomeone requested ETHUSD... here is what I am seeing.
As internal momentum for trend is measured with the ADX indicator, the latest price move to the upside was on falling momentum. This divergence should help bring selling interest along the bearish trend line that is being tested at the moment. A move back to the 61.8% level is imminent and the price should shove right through that and move back to the previous low (and most likely make a new low)
The only thing to negate this call is for the price to breach the bearish trend line to the upside and then re-test that line as support with backed momentum for the change in trend. Otherwise, wait for lows!
Any questions let me know.
BTC Breakout TA 7-24-18Although BTC seems to be shying away from my 4100 target I did call the recent downside to 6k (within $90).
*Check last post for proof.
BTC is breaking out of the purple symmetrical triangle that tons of people tried to long and got REKT on.
If this daily candle can close above the purple trendline this is huge because I cannot see any higher
trend resistance.
I am still not really bullish on BTC until it forms a well established uptrend line from the downside.
Re-mounting an older uptrend line would be ideal.
Until then I am still projecting a tap at the long term uptrend line in the 5-4k range.
Times like these show us why we need to be unbiased technical traders. Trade safe.
BITCOIN BUY are you ready?Hello ladies and gentleman, boys and girls. Lets look at Xbtusd.
We can see a trading channel formed and holding solidly. The long term down and uptrend has not been breached yet. Weekly chart is bearish with a bear flag. On the 4hr we can see a mini head and shoulders forming. The height of which gives us a target perfectly off the 7600 long term uptrend forming a double bottom and lines up perfectly with the weekly for the final bounce.
So this is it, the moment we have been waiting for, ready your cheque books, you can short down to 7600 and switch to long or wait and BTFD.
If you found this analysis insightful and educational, please like, follow and share. If you didnt please keep it to yourself its rude to gossip.
Cryptodad out!
Ripple faces to 80cents. Let's see!! Bearish flag pattern of past week scares everybody who hodl that coin. We think it could be even worse, theres a big possibility Ripple can break to 80cents and then slowly recover after few hours/days. In our It'll be very fast race, as you can see at the chart, breakdown could happen tomorrow, but no one knows, XRP market is very unstable and forecasting it is very difficult. So inspire yourself and decide on your own.
If our analysis helped you and you like keeping the analysis simple, please consider giving us a thumb up.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
BTCUSD - Mercury Rising, path to continued highs? To those that asked me yesterday, I indicated that if we cross $11,900 (GDAX prices), that would trigger a short-term buy signal from which we could get a range projection target of at least 800 points. As I write this, we are seeing a gain of 1000 points, give or take, and now the question turns to: "how much higher can we go?".
BTC' has ignored the overbought signals across many time frames, defied the critics, and continues to barrel forward. However, as we all know, what goes up most certainly come back down. Now, no one can say with certainty that they know exactly when this could happen. These are uncharted territories and we could even push forward to 18k before any serious correction. With that said, I must caution you, my PERSONAL opinion is that the higher BTC' goes before Dec 18-31, and the faster it does so, the more likely that BTC' will be heavily shorted afterwards.
I too, stand very curious to see how the interaction of the BTC' futures markets will play out across the cryptosphere. CBOE' launches BTC' futures trading this Sunday December 10th, CME group will launch BTC' futures on Sunday December 17th (effective trade date December 18th), and BitMex is launching a very interesting product as well. For those that may not be too familiar with the concepts of high level finance, futures and swaps bring an interesting perspective to the mix, especially in this market environment. Many in the industry, with far more experience than myself, have actually mentioned the built in inconvenience to short these crypto markets, at the present moment, that the FUTURES markets will address. This will be an interesting couple of weeks ahead to say the least.
From the technical perspective, we seem to have paper thin support around the 12k mark, more support can be found at 11050, but that is not as dense as the perma bulls would like to believe. A break below that and we can head much lower. As far as the upside, I would like to see a clean break of the 13100-13300 level, with force, before calling for a short-term buy signal which takes us to 14k' or slightly above. Last but not least, normally don't do this, but I charted with the 50/200 EMAs given that I have noted that the 50 day moving average is acting as solid support if price action regresses towards that average. I have highlighted these points for reference and a potential zone where this may in fact be tested again.
The crypto markets are not like any other market we have traded in before, it is imperative that one be reactive, dynamic, and follow the clues that the market tells us, current risk levels are at an all time high, and rising. Some words to always remember: "No one has ever lost any money taking profit!" / "Take and lock in profit when you can, not when you have to!".
References:
1. CBOE' Futures details: cfe.cboe.com
2. CME Futures details: www.cmegroup.com
3. BitMex Swap details: www.bitmex.com
Comments and questions welcome below.
BTCUSD - Path to new highs 2 or Correction looming? Crossroads+Currently, we seem to find ourselves at a crossroad yet again. Is this truly a path to new highs? Yes, overall Market Cap has greatly increased, that is a clear given. Is institutional money already pumping futures-like volume in this sector? Yes, but haven't they already been doing that all year? Regardless, I digress. the blast through $8k is anything but a blast, mere poke at best, at least at time of writing this. Will tonight prove to be a solid breakthrough of the over-mentioned level? Time will tell.
At the moment as well, we note that many technical strategists are calling this the B wave of an ABC correction stemming down from the previously established ATH* on "no 2x" day. By that logic, we should see (sooner or later) a C wave coming down from here... or so they think.
If we go by the technicals, we see a clearly an overbought reading regarding the longterm picture. However, Bitcoin has proven time and time again that the technicals only show a road map, not an exact GPS play by play. We have to be nimble and flexible. If we break through $8K with force, there is a clear buy signal that will emerge, from which we could initiate short term trades, and remain cautious of the overall overbought sentiment.
In the event that we do not cross $8K with force, would this classify to be a Double Top? Definitely something to monitor. We note further support levels at $7000, $6700, $6000, & $5500. The channel above has been extended from a previous analysis I did recently, not one I've posted, but a notepad I've kept handy for the recent near term trades I have been in/out of. I decided to extend it and let it play out given the fact that the recent "correction" was steep/quick and noted retracing back into channel depth.
Comments and questions always welcome.
BTCUSD - Path to new highs?Currently, we are seeing BTC test the $6000 resistance which was attempted and rejected earlier this week. The upcoming Segwit2x fork is definitely in play here as we are a little over two weeks away from the 494784 block being mined (fork block). Current projections have that happening as of 10/16/17 (Thursday, November 16, 2017, 5:53 AM - per respective reference link provided below). It is without question that the futures prices for the B2X tokens are also at play here since the forecast value (according to coinmarketcap) have these around $1000 per token.
Notwithstanding all that, from a technical perspective, BTC is in a clear uptrend channel, which at a minimum is set to test the previous ATH' with coinciding resistance around $6200, further resistance ahead is found at $6400. Below that, major support levels are found at $5700, $5400, $5000, and $4650. I expect we have a re-test of the previous all time high in the upcoming period, and given the momentum prior to the upcoming fork, it will not surprise us to see at least a minimal test of the $6400 region.
Keep in mind the channel formation as we could also see a corrective regression from the top end of the channel (if we get there) back towards the middle of the channel. Trend lines remain clear. Thanks for reading.
All comments and questions welcome below!
References:
bitcoinmagazine.com
bashco.github.io
coinmarketcap.com
BTCUSD - $4900 resistance in battle (10/09)Over the weekend BTC crushed through the $4400, $4500, and $4650 levels. Who knew that the $4900-$5100 area could be in play so soon, and now its very tricky up ahead. I still have not taken in profits from the trade entry point of $4200, but have tight stop losses around this current level. Perhaps, I may exit if I have to catch some sleep. Only doing it so today since I think tonight will define a lot of things as Asia gets under way and digests all of this. Ahead we have the $4900, $4980, $5000 (*psychological resistance*) and $5100. I remember live trading the play at $2999.99 earlier in the year (gdax prices) at it definitely got interesting from then on. Ill consider taking profits around the $4950 level.
With that said, this is not how I want to be operating from now on. The reason why I signed up for Trading View was to keep myself honest and document my work here. Not really going after followers and all that hype. Not about that and not really into that whole social media addiction either. I will be documenting this more as my scratch pad of what I got going on and what Im thinking about doing.
If you are able to provide your insight into this, I would appreciate that as well. Looking forward to the next couple of weeks as I get myself situated on the site, and hopefully soon start posting more concise and detailed trades. To include entry and exit points and how much Im putting down on the wire.
Thanks for reading!
Chart Note:
I posted a couple of scratch pads over the short time I've joined.
This chart is a continuation of that just stretching everything out further down the timeline.
Disclaimer:
Originally bought in earlier this 2017 year @ $1200 and $1500.
Not trading with the overall portfolio. Don't go all in on one direction thinking you'll bat home runs each time.
Never been a professional Trader before. But Senior Consultant in the industry - consulted for investment banks/trading floors in NYC, LATAM, and London 4+ years.
Previously preferred derivatives and equities, got hit with the crypto bug earlier this year and now this is my main portfolio.
Long term investor, doing it for the long haul: BTC ETH LTC XRP DASH XMR ZEC (always be careful with what JPMorgan invests in)
BTCUSD - BTC holding above $4300 as bull/bear battle continuesThe short-term consolidation that took place over the prior couple days appears to be slowly fading away as the $4150 support level held overnight. The ongoing post-crash advance, albeit slow and without fierce momentum at the moment, appears to be continuing. Crucial resistance still ahead as we aim for the $4400 level yet again, more resistance is found near $4600-4650. With that said, a rally towards the previous all time high near or below $5000 seems to be gaining in probabilities. Below current level ($4305), support is found at $4150, $4000, and $3800. Shall we brace for more bumps in the road, or will clearer Buy signals emerge as we near the $4600 level? Feel free to share your thoughts down below.
