What to EXPECT from Ol' BTC in the next 12hThis is a look at the scenarios I think most likely for BTC in the next 12 hours.. I would definitely say we have a high probability of breaking the ATH by tomorrow however there is a 25% (IMO) that we fail to hold the short-term trend and break to lower support before we bounce. It is the weekend coming up so don't rule out foul play for OL' Bitty!
Watch
ADABTC PAIR IS BREAKING OUT!WATCH FOR A REBOUND OFF THE TRENDLINE! IF we bounce we could easily see a bigger move to new ATHs! Do not trade until we have a confirmed bounce! If you get in now I'm confident you'll be profitable within at least a week but we want to wait to see if we can get a better ticket on the train so to speak!
ADA looks CLEARED FOR TAKE OFF! ADA BTCI have highlighted the double bottom formation as well as the VERY BULLISH GREEN DOT ON EVERY TIME FRAME UP TO 3H (should appear on the 4h and greater soon!)
The RSI is in the 30 range and the trigger waves are signaling a reverse trend about to go down! GET READY!!!
Bearish-Crab PatternGood morning and good weekend to everyone. We now are climbing steady. We since noon yesterday now can see a trend going up successfully. The market has flipped a switch to follow another Flubberbuster. We now have a Bearish-Crab pattern. We all on February 11 are going to a 1.10 mark. Small dip is able to be possible at 1.05 this evening. We on the 10 at 2:30 will enter a dip down to .9103030 or lower. This morning we all can see dip after 1.05. On February 9 we all can see a dip to .92916 or less. Not moneies advice. The gains forward.
A Hunch And A Pretty Picture Show OMU Headed For 18.50When looking at OMU using the 15min, 4H and 1D charts you can tell that when it broke its resistance it meant business. Tradingview has many analysis that carefully point this out. We want to look at the W chart. Yup! The chart where one candle is an entire week. That one!
Since we are all about grand perspective, we'll be following this over time and using it as an opportunity to learn about how financial services companies (who may argue, are refusing to move with the times and honour the new rules of their markets) will fair in this new world.
This chart illustrates an inverted head-and-shoulders:
showing entry above 13.00,
a stop loss level around 11.25 and
a possible take profit at 16.50.
But for the purposes of this watching exercise we are more interested in the ledge created between late January 2020 and mid February 2020 of 17.99. We believe OMU will continue to rise, it will beat those ledge levels and kiss 18.50 - possibly riding those level for a while before falling again.
Shorting Watch Party Part 2We are getting closer and closer to Teslas correction. With an RSI of 79.6 and growing bearish divergence from Divergence+, I will be going with the 4 hour chart when a sell signal is given and will short Tesla to $500 a share. MACD shows room for more growth as bullish divergence is growing, but it will soon come to an end. We may see the fall of Tesla start this week. I will let you know when I buy into my position and position info. Still watching at this point.
Best of luck to everyone looking to short Tesla!
MAXR: Possible reversal after confirmed ascending triangleAscending triangle, confirmed
May reverse on a down trend after 2018 gap fill.
Watching
BTC/USD - it's a trap!!Hello, traders!
In last week’s analysis, we ran through BTC’s potential Wyckoff distribution stage. Looking through the basics of Wyckoff market cycles while analyzing the potential cycle which is occurring, as demonstrated below. Showing that BTC could be potentially overbought. During this report it was stated that BTC could see an imminent drop, that BTC was showing signs of weakness – it would only be a matter of time until the BTC price fell from a cliff.
However, Bitcoin has had a surprising rally over the past few days, seeing BTC increase from just over $9000 USD pushing towards $10700 USD. This represented over a 10% gain over a 7 day period. Although is this push an exit plan for the larger players – allowing them to set up a trap? Or is it the start of a new BTC bullish trend?
We should note that the RSI is at an extremely high level, meaning that a small retracement is likely. If BTC can use the 20 MA (centerline) from the BB as support, allowing for the RSI to recover then this would point towards questions of the Wyckoff analysis indicating the LPSY too early. On the other hand, if BTC is not supported by the center line and proceeds to touch the lower band, then this would be a huge bearish indicator – suggesting that a major reversal from the previous uptrend from March is in place. Therefore maintaining the current Wyckoff analysis.
The first bullish target for BTC should have been $10250 USD. Which was broken above, invalidating the recent Wyckoff analysis? This represented a 6.25% gain.
The second bullish target is 10 750. A break above would represent over a 7% gain.
The first bearish target would be a break below $9000 USD. A break below this would represent a 6.25% loss, a drop here would majorly increase the likelihood of a major breakdown in price.
The second bearish target would be $8620 USD. A fall below this level would certify the new bearish price wave, representing a 24% loss from BTCs current position.
What do you think happens with BTC next? Share your thoughts in the comments!