Evening Traders, Today’s analysis – NZDUSD- testing key weekly S/R with resistance confluence, a move down is plausible. Points to consider, - Trend oversold bounce - Macro weekly S/R ( resistance) - 200 WMA confluence - Swing low failure (.50 Fibonacci) NZDUSD’s price action recovered from oversold conditions, now likely to respect weekly S/R allowing for...
I would love to believe that everything is fine, but with such a large move in the southern direction, the trend is down...... We must stay with this perspective until proven otherwise....... Everything is now lining up and I think it would be worth holding a longer term short...... 31.8% retrace 200WMA testing If we go higher, I will probably just sit on my...
Evening Traders, Today’s analysis will focus on BHP, sellers are in complete control after breaking key technical levels. It has been rejected at a technical point that will dictate the overall trend in the coming weeks and months. Points to consider, - Strong bear break - 200 WMA – Current resistance - Local support respected - .618 Fibonacci in confluence...
Breaking the 200 week MA is a severe technical breakdown. Becomes bottomless after this. Last seen in 2008, 56% selloff. Panic selloff. Irrational exuberance replaced by irrational fear. Short the rallies, try not to get killed; GLTA! Not advice, clearly just an irrational idea. A fierce bear rally can occur at any time, trade at your own risk.
The BTC price has never reached a close below its 200-week MA (having come close on January and August 2015). The current weekly close is below the MA, albeit only incrementally. If we assume that the price fails to clearly reclaim it, it is likely to go down from here. The white dotted lines outline the current range of $4200-$600, while the black lines...
Chart says all. Has been support in 2015/16 and 2018. WIll it hold again? I hope so; I'm going long here. 2054 is just 90 pips below now, IMO might see it this week. We do have a Bearish engulfing candle on 3/11, ominous for lower... but price forms a descending wedge, pop could come anytime now IMO. The selloff was so rapid and intense, the buyback will be a...
It may happen tomorrow or it may string us along until the end of the year but it would seem this descending triangle has the potential to drop back down to support from LAST YEAR'S descending triangle. If this takes as long as before and we end up consolidating well into it's apex that would give time for the 200 week MA to move up and create strong support again...
Moving averages. Whether you love them or hate them, trade with them or without them the fact of the matter is that some of them are very significant, even on their own as they can act as support and resistance. Once they cross however, their power can absolutely make or break a market as seen countless times in the stock and gold market but also with Bitcoin and,...
On the weekly chart we can see the weekly 200 simple moving average(in blue) has provided amazingly strong and as of now unbroken support. On the flip side of the spectrum, we can also see extremely strong resistance from the 20 week simple moving average(in orange) we have had 2-3 months here of very little volatility but we can see that both of those strong...
Leaving this idea neutral but leaning more short....the head and shoudler pattern on the 4hour chart appears to be triggering a breakdown. We may need a follow up 4 hour candle to confirm this so a fakeout is still possible...but if confirmed we have a drop target of $3290. Of course there is the massive weekly 200ma support just above it that could rpevent thee...
Keep in mind the falling wedge is a 4hour/1day chart pattern so its gonna look slightly strange here on the weekly chart but we are on the weekly chart to show just how close we are to making contact with the weekly 200 simple moving average. This MA provided ample bounce when we first hit it around the 3.1k region. I think we are about to slowly grind our way...
here is a link to the original falling wedge I initially charted on coinbase: s3.amazonaws.com you can see the bottom trendline when at this trajectory is the exact bounce spot our current price action has found good support at...I anticipate we will move back up to the top trendline of the wedge again before any kind of capitulation. We may test the bottom...
in the shortterm I expect a break down from the current red symmetrical triangle weve been in on the 4hour chart so this idea will be short for now...however in the medium term I now see a big falling wedge in green on the 1 day chart thats apex stretches to April and believe we will ultimately break upward from this pattern. Interestingly enough the target...
or maybe just a symmetrical triangle,,,I have brakdown targets for both the bear pennant or just the triangle limit buy is still set up for if we revisit the weekly 200 simple moving average.
A temporary short idea here but the target of this drop could be one of 7 potential targets shown here. To play it safe I am going to be setting a limit buy up right buy the 1 week 200ma(shown here in sky blue) it is conveniently lined up right with the neckline of the larger head and shoulders pattern so I anticipate the price action could attempt a head and...
we can see here on the weekly chart of the entire crypto marketcap that the market is very much so inside a falling wedge...one that seems to reach its apex in the middle of march....but as with most falling wedges a breakout from the wedge tends to happen very soon after 3/4ths of the wedge has completed so a breakout can be anticipated sometime within the next...