IronCortex

IronCortex

BTC has to break and close above $42152 to confirm the break of the short term downtrend. Before it does that, it is likely to retrace back to around$40k to fill the imbalance. It has to hold above $38500 or there will be more blood.

IronCortex

Currently in a bull flag. Looking for a break up to the next supply zone.

IronCortex

I've done this TA in a different way to the usual trendlines, SR zones, chart patterns etc. I'm going to rely on indicator patterns. Going to ignore all the bear flags. 1. Every time BTC on the weekly touches the 2 ATR line below the average (white line), there is reversion to the average. Mean reversion (white circles). We are at that stage now. 2. Every...

IronCortex

The first pullback since the break above the 200EMA on the 4H has already happened. After the double top, Jasmy may be going into a range for a while (before looking bullish again), its broken below the 50EMA for the first time on this pullback. There's a good probability it will bounce back up from the buy zone. This buy zone is where the 200ema support is,...

IronCortex

The white elliot waves are from the 1H. The 5 white impulse waves form wave 1 of the 4H EW (pink). ABC in white is from the 1H which forms wave 2 of the higher fractal (4H). That means hopefully wave 3 incoming on the 4H which may take price to previous support which is also the 161.8 fib. Just a possible path based on elliot waves and fibs.

IronCortex

Price in wave 4 will hopefully not go any lower otherwise the wave structure breaks and gets nullified as wave 4 goes into wave 1. Wave 5 won't be a massive impulse otherwise wave 3 will end up being the shortest. Im guessing wave'5 will break the resistance and the a,b,c correction will be a retest of the resistance as support.

IronCortex

A break of 200 EMA on 4H and minor resistance at $1.50 should take us to the target of $1.74 where I expect there to be some heavy resistance because: 1. strong downtrend line (white) meets 2: previous medium resistance (teal) which also meets 3: fib 128 level. Manage your money, remember stop losses, this is only to remind myself, nothing I publish is...

IronCortex

Unless BTC drags Link down, Link is at its absolute bottom. 1. White trendline has never been broken for about, Link has been bouncing off it since March 2020. 2. RSI on the weekly is at support. 3. Divergence on RSI (daily). 4. Price is At fib 786 retrace level. 5. Has already bounced off $15 (rounded) support level.

IronCortex

Be careful, the drop in BTC could drag EGLD down with it, so place stop loss and employ your money management strategy. This is just an idea which I consider high probability. But, ignoring BTC, EGLD should go towards previous highs. Where I've drawn the white circle there is 1. trend line support 2. 200EMA support 3. Fib support and bearish volume is...

IronCortex

In my last idea I was waiting to see if the channel would break down or if BTC would bounce up. On the daily the channel broke downwards. So going to the monthly we can see that there is a high probability price will now go down to around the 31k support at least. Reasons for this are: 1. Double top 2. Bearish divergence on RSI 3. Bullish volume is dying...

IronCortex

Where i've drawn the circle is a huge area of value for bitcoin. There is the 52k support (yellow horizontal line), there is the channel support (teal line) there is the fib 0.5 to 0.61 support (shaded area) and the 200ema is approaching this area (red line). So massive amounts of support from all angles. If these support break, bitcoin will probably have a...

IronCortex

Lets see how this plays out. Dot is in consolidation. Clear flag pole and pennant on (blue line). Approx 65% increase in the first impulse move, and 50% up to pennant breakout. This would mean a target of around 46 GBP. Not financial advice, just me playing around trying my hand at technical analysis.

IronCortex

BCH is at the bottom of the horizontal channel again on a strong support line (yellow dotted line). Its also got quite a distance away from the EMA so would expect it to get back to that and cross over it towards the top of channel. OBV is showing clear bullish divergence (purple line) and buying volume is increasing overall. Momentum on the MACD has slowed to...

IronCortex

We had hidden bearish divergence showing on the 5th of march (Yellow dotted line) after which price went down. We have the same sort of hidden bearish divergence now (second yellow dotted line). This signals underlying weakness, and points this current upwards move to be nothing more than a retracement of the downtrend. We also have somewhat of a rising wedge,...

IronCortex

Take a look at the blue trend line, it has provided support for all major low points since October 2017. It has been acting as strong support and resistance for the last year, and when price broke through it, price came back to test it as support 3 times. After the 3rd test price went on its crazy rally towards the end of last year. We are now at this blue...