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Xabcd

BTC Bearish Logarithmic XACB ButterflyTL:DR One of the most powerful forex patterns is visible on the bitcoin chart, but only on the log scale. Ultra bearish if correct. Intro (a bit blogposty) I am constantly looking for the largest market structure I can find and doing such drives me to expand the number of patterns I can easily recall. The harmonic patterns are the trickiest for me due to all of the internal consistencies. I was looking at the bitcoin price action over and over again when I saw the harmonic butterfly. When you look for the ratios within the default XABC pattern you get the wrong ratios but when you put the chart on log scale and make sure your fib retracements are set to log you get almost perfectly retracement/extension ratios we are looking for. This chart formation has taken over 3 years to develop. It should have some power. More Analysis The main chart is very explanatory of the big picture so we can dive in to some further analysis. My linked comment will detail my rational from earlier on how I think we are in a bull trap. Saves us the time from going over it here. But first lets zoom in on the XABCD structure. On the daily zoom in we can see our tolerances for B an C are very tight. Very comforting for the overall structure. A quirky chart is the 20 day chart which came from my trying to combine some 10 day candle stick formations. Looks pretty bad. Misc (ideas y'all can steal as I don't have the energy to flesh out) The ETHBTC chart is very concerning given the high level of correlation between all crypto. A broadening wedge is a bearish formation and even if price action returns to the base of the wedge ETH takes a hammering against BTC. I would assume that this means that crypto falls victim to the everything bubble but bitcoin recovers first while ETH is still falling. Very tenuous supposition. This chart is a bit busy conceptually, but meh. We have a red ichimoku cloud that has turned red as of several days ago and I have not heard anyone mention it. Curious but I do know so many people are looking at the 4h chart and may miss this. Pi cycle is bearish, that we know and by itself isn't conclusive because this is the first time it is going live. The on balance EMAs takes the default on balance volume and applies EMAs to get an even wider view of trends. The 20 crossing the 100 is a very major bearish sign of persistent selling. Final Thoughts This is all very experimental. We are taking a pattern that I can't verify is suppose to work on the log chart like this. But what I do know is the uptick in volume helps confirm that someone was probably seeing the same thing I did, just a head of me. And this dude had enough BTC to nail in the close. My linked post shows TSLA is in a massive correction. If they and Musk take a loss on BTCUSD the memetic energy into this dump will be incredible. Unlike some people out there, I see some clear indicators that we should not be recklessly long. If this pattern is valid the gold and silver bugs will be crowing victory. BTC is suppose to be currency so it would make sense that a Forex pattern would work. And with Dollar milk shake the last currency standing is suppose to be the dollar and DXY is looking very strong right now while inflation is soaring. Seems easy to think that everyone not in the US will dump BTC to feed themselves.
COINBASE:BTCUSDShort
by This_Guhy
26
GBPAUD DThe price was able to breach the important resistance at 1.79867, with the breach of a downtrend as well We also see a strong rebound of the candlestick of the day from the SMA 50 If we go back to the one-week timeframe, we will see this week's closing above the aforementioned resistance with the breach of the downtrend We also have two harmonic models (Butterfly + Shark or what is called XABC or XABCD) I previously proposed a previous analysis (the butterfly model), which achieved two goals and was very close to the third goal Currently at the level of 1.79867, we will see the rest of the levels, God willing Exit from the position in the event of closing below the level of 1.77189
Long
by mysqlerror
GBP JPY - 2021 150+With the Brexit transition starting - let's see what happens. Outcome for a Brexit 'Yes' vote. As we come into the holiday season - there is important volume to note here, however the major players are positioned for either way. We have the purple buy zone, which price has seen a nice consolidation with some rejection wicks. January update: The amount of deals now in place with respective governments and individual deals for exports, flow of people and long term deals with infrastructure projects - we will now see the Yen to weaken. Provided there are now upsets from Internal UK parties to cause a stir nor Brussels or Euronations rejecting. With now the second vaccine beginning to take place on the target of 2million vaccines conducted per week - this will see the nice flows taken from the JPY shorts with institutions moving away to keep the upside moving as the UK races to lower the cases. Provided the probability seeing further buying power. We will see a huge engulfing candle to start the new imbalance. Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise. If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes. If you feel our work is exceptional and would like to donate coins, this is highly appreciated. Regardless we will continue producing analysis. Thanks, Team Lupa
Long
by LupaCapital
EOS Long - Bat XABCD & Wedge EOS looking to break out of current price levels because of the falling wedge shape and the potential bearish BAT XABCD pattern that looks likely to be completed. The fib ratios look good on the BAT pattern and if it plays out we should see breakout towards $2.8 and strong move down after that. We also see a clear long term bullish divergence on the accumulation distribution indicator. Set a tight stop loss around 2.41 and enter now ! Please note that I am not licensed to provide financial advice and that this is just a speculative setup. Do your own analysis and due diligence before trading, I do not take any responsibility for your losses. Give a thumbs up if you wish to see more from me!
KRAKEN:EOSUSDLong
by WineTrader888
2
OMG Short XABCD Bearish BAT 1. XABCD Bearish BAT Pattern in final CD move towards area shown in chart. 2. There is heavy historical resistance at this level too. Check the chart and draw your own resistance lines to confirm. 3. XABCD Bearish BAT Pattern confirms the heavy resistance possibility. 4. Make sure to set stop loss accordingly. 5. Speculative setup, please do your own analysis before trading. 6. I am not licensed to provide financial advice. Trade at your own risk! If you like this please give a thumbs up and follow me! Out - WineTrader888
KRAKEN:OMGUSDShort
by WineTrader888
7