Delchoni

Delchoni

Hello fellow traders, Haven't posted for a while, however, this is probably the perfect moment for a comeback. ;) BTC has been in a corrective price action for the last 6+ months and recently it made another quite aggressive move south. This time the support is resting on quite important price levels: 1. The 200 weekly moving average, which has acted as a key...

Delchoni

Since ATH we saw a nice impulse wave to the south, now a typical 3 wave correction. Bitcoin had multiple weeks of bullish movement, a 4-day correction may not be sufficient enough to cool down the price action a bit. It May take a couple of weeks to reach the support level, but it is nothing unusual, during the last bull run the corrections took between 12 and 25...

Delchoni

Dear Traders, EOS is forming a multi-year descending triangle on the USD(T) pair, be careful with your bags :)

Delchoni

The rally we since the beginning of the calendar year is glorious, however, it's not a bad idea for reconsideration of short therm bias :). Trade safe :)

Delchoni

Lot's of consolidation during the Christmas period as expected. We MAY have seen the bottom but I'm not convinced enough to go net long. Trade safe!

Delchoni

With candlesticks, it actually looks scarier, the +30% move got a quite aggressive rejection. The price is probably headed to the 2018 6k support. We may see a slight bounce but it is not necessary. I'm net short and will probably add more to the position if we get some type of a SR flip. Be cautious with this type of price action as it can be trappy. This is...

Delchoni

*Quick update* It was kinda obvious, although I posted a bullish chart last week, I was primarily looking to the downside... You can check my idea "Bitcoin fractal" where I mention the similarity between BTC and LTC and in played out exactly as mentioned ( With BTC it took less time, however). The arrows illustrate my main 3 trading plans I'm looking at.

Delchoni

Not sure that anyone will buy old cryptos, but let's take a fresh look: we are in an accumulation phase! CRYPTOCAP:TOTAL

Delchoni

Although Ripple made a sharp and powerful rally it's probably too early to go full bulltard yet. I mean, the has been in a steady downtrend since June and a 20 % positive move shouldn't be a distraction to this fact. What is more concerning are the bunch of false breakouts that have occurred during the low volatility period. In some cases, this means that the...

Delchoni

Well, Ethereum did a very pleasant relief rally and it's not ended yet. But let's not forget that Bitcoin can always mess the things up just by doing a 5% move in whichever direction.

Delchoni

What if we the price is currently forming a bullish pennant instead of a descending triangle and the continuation is to the upside. If this is the case I'll open a long position with the ATH as a target. However, if we break to the downside, the picture will get awfully ugly, and a bearish impulse of a larger-scale may actually play out.

Delchoni

If Bitcoin doesn't break the descending trendline there is a high probability to go to 7.3k

Delchoni

This is what Litecoin did (LTCUSD) during the last bear market. Important support - resistance levels are matching. However, if 7.5K doesn't hold 6k is still as legendary as it was 1 year ago. On macro-level BTC is in no man's zone, but don't worry, corrections are something absolutely normal (in each direction).

Delchoni

descending triangle

Delchoni

Fibs + VPVR

Delchoni

This H&S fractal pattern is always followed up by a huge price drop. As a whole BTC is looking very toppish right now (you can check my previous ideas where I mention why I think so). Also the gap between 4.2K and 4.8K must be filled. so I expect that 4.2K will be tested as a support. Trade safe!

Delchoni Updated 

We saw a very bullish week, almost every major alt popped. But I think that a healthy retrace is imminent in the near future. Ethereum hit my target from December (yes,from 4 month ago, I didn't expect that this move will take so long ). I don't expect another push to the upside honestly (however it is very possible that I'm wrong) . We hit a resistance zone,...

Delchoni

Textbook EW. 5 wave impulse -> 3 wave correction. However it's not completed, so there can be invalidation. :D