IOTA: IS THE HIBERNATION OVER?After a huge bearish phase, the price has generated a simmetric triangle that is to be seen as the result of the congestion of the fluctuations. Both R.S.I and Stochastic haven't reached the overbought zone. However, I suggest paying attention to possible bearish crosses in the aforementioned second oscillator. The breakdown of the support or of the triangle resistence will give rise to a strong directional movement. This one will be matched with a growth of the volumes which have been flat so far. That fact means that the trade is facing a contraction and reload phase, then entering a high volatility area. We may get surprises.
Volumes
BTCUSD - good opportunity to buyHi, friends.
It's funny to read different analysts prediction about the price of $3000 per 1 BTC or $25,000 per 1 BTC. The real fact is that no one knows this. We do not have to guess what the price will be in the future, we must to trade the present, the current market conditions and enter into the market in the same direction as Big guys (Smart money, Big Money, whatever).
The structure of the market is the same as 100 years ago. First - the price accumulates in a wide corridor, and then goes into a trend. When the large players close their positions (fix), then and a new consolidation begins. It's a cycle.
What we have now on BTCUSD?
Bitcoin is in the uptrend. Now there is a correction wave to the upper balance level.
We can open buy position in support zone 8660-9000.
If the price breaks down 7850, that would be a bad signal for BTC and with a high probability we will see a new fall wave to the lower main-balance level 6000.
Bitcoin: Wyckoffs Accumulation Phase E coming soonEdit: In the text inside OBV, there is a mistake, it was meant to be written "to last ST". Sorry for the mistake!
An objective of the Wyckoff Method of technical analysis is to improve
market timing when establishing a speculative position in anticipation of a
coming move where a favourable reward/risk ratio exists to justify taking
that position. Trading Ranges (TRs) are places where the previous move has
been halted and there is relative equilibrium between supply and demand.
It is here within the TR that campaigns of accumulation or distribution
develop in preparation for the coming move. It is this force of accumulation
or distribution that can be said to build a cause which unfolds in the
subsequent move. The building up of the necessary force takes time and
because during this period the price action is well defined, trading ranges
present particularly good trading opportunities with potentially very
favourable reward/risk parameters. To be successful, however, we must be
able to correctly anticipate the direction and magnitude of the coming
move out of the trading range. Fortunately, Wyckoff offers us some
guidelines and models by which we can examine a trading range.
For more about it click the source: www.hankpruden.com
Inspired by CapnOscar's linked chart below.
Bears hidden ahead.Today this stock ran up for +6.37%, which is quite strong movement for any stock. But important moment about this run are volumes, which were extremely low, especially for such a strong movement.
Above there is strong resistance "cushion" between $8.5 and $9.3, which was broken on 01/23/2014 with highest ever volumes, so this one would be strong resistance.
I would suggest gathering of short position starting around $8.50 and higher with stop between $9.5 and $10.