It seems that everywhere I hear about Crypto market will collapse! Well, please compare the current market prices with 2015 prices and let us judge if the market is up or down! Anyway, the big picture remains bullish, and I am publishing here a weekly chart of XRP that reflects the conflict between bulls and bears in a very critical territory, whilst the RSI is...
I have drawn this chart long time ago and I decided to publish after long time without publishing my own work! Anyway, I am still bullish on BTC The classical upside channel is still valid so long as 17400-17300 territories remain unbroken !
Potential Bat pattern over weekly basis
First Negative Crossover over Weekly Basis since Jan 2012
Strong drop is under preparation
Weekly diveregence and base building within strong support zone.
Confirmed classical pattern with targets @ 1.3980. A break below 1.4060 will affirm it.
* All eyes should be on 58.05 as a breakout below it will ease the path towards 61.8% Fibonacci of CD leg.
Inverse H&S is under construction with interim resistance at 11830.00- 11850.00 and a break of which will be a good long opportunity. Targets reside in the 20k zones.
U.S. dollar is in a mode of placing a concrete base; whilst key of achiieving further bullishness remains in the 90.50 boundaries.
* Fibonacci of 76.4% of the entire wave from 0.9800 zones to 0.8640 areas wasn't even touched. * Negataive candlestick formation is underway! * Bearish diveregnce on RSI14. * Sell stop could be placed below 61.8% Fibonacci @ 0.9330.
Due to the strong fluctuation and recent market conditions, let us focus on simple tools. Strong diveregence!
*Under-construction cup with handle is in play. *Breakout above 12.45 is required to affirm the classical pattern. *Momentum and trend indicators are positive, reinforcing our constructive bullish overview.
Chart Setups: 1-Bearish harmonic AB=CD is in play now after clearing 1142.00. 2- A breakout below 1130.00 will accelerate. 3- trend and momentum indicators are negative despite RSI entering oversold regions. 4-Fibonacci projection of 200 % for the BC leg is at 1053.00.
1-GBPUSD found support again in the right shoulder area. 2-SMA50 is to be taken out clearly. 3-Fischer transform is in a positive mode. **Longs are preferable, 1.60 eyed once again.
1-Bullish Bat pattern completed at 0.6950. 2-Two connected bullish divergence formed over daily studies. 3- Areas of 0.6950 should hold to keep the bullish attempts valid.
Clear harmonic AB=CD formation with C near 50% of AB and D around 200% of BC. Targets at 38.2% and 61.8% of CD. Stop below D levels.
We can see signs of recovery over daily basis as follows: -The pair has formed morning star candlestick. -The probability of forming positive divergence with momentum indicator increased with Stochastic finding support. -Aroon (down) shows signs of bearish trend stoppage, moving slightly downwards.