BTC is recovering from the drop in a big weird curved pattern.. what does this mean?
How long can this go on? Is this sustainable? Does this mean we will go up parabolically to 20k?
I personally am still holding short positions, but please share your thoughts in the comments down below.
Hi traders!
Today we are going to look at ETH/USD analysis on Bitfinex . ETH is now undertaking soft correction as well as all the other altcoins. However, where could the correction come to an end?
Trading is a game of probability and statistics and therefore we are going to introduce you to 2 possible scenarios and going to assign them a % chance to achieve...
On usdjpy we have completed head and shoulders pattern.
right now the market is approaching a neckline.
if bulls break and close above 108.6 structure resistance,
there will be a high chance to see a bullish continuation to higher structure levels.
I tried to decide if I want to make this a "short" idea or a "neutral" one, but i decided to make it short because btc still hasn't passed the major resistance that it needs to pass to signal clearly that it's going to test new highs, and as long as it doesn't break that line at 12.2k I will not be expecting a retest of the highs for btc. to make a long story...
The pair was ranging in a flat channel since august 2018 and finally broke the channel last month and retested it forming a small corrective channel on the H4. A break to the downside of the support of the channel and the target for the pair is at 1.09500.
If we don't moon soon (and break long term resistance on my previous bitstamp chart) expecting this pattern to complete which would mean we will moon around 6/9.
Completed head and shoulders pattern on gbpnzd.
if bears break above 0.896 support level,
I will expect bullish continuation.
T1 - 1.902
T2 - 1.910
Stop - 0.889
After the first big parabolic move bitcoin hit an initial resistance at around 7550 and formed the sharped drop shown in the first red box. This was then followed by a move to the upside where resistance was quickly met at around 8250. A pennant then formed and the result was the second big parabolic move that we have recently experienced. In my opinion, it is...
aesthetics are what are left behind.
I made a slight adjustment to my fib bottom setting, aligning it up more with higher TF pivot resistance levels
disregard the yellow arrow on the bottom panel, it's not intended for this chart
![GBPCAD: GBP/JPY ABCD 4H [FOR STUDYING]](https://s3.tradingview.com/d/DlWtM0vc_mid.png "GBP/JPY ABCD 4H [FOR STUDYING]")
