It is Friday and again another analysis of BTCUSD.
This week has been a rough week with the first red weekly candle in a long time.
I've found the daily 30EMA has been a strong support, RSI is at a healthy 50 on the daily.
Looking at the market and trying to predict an outcome is quite difficult.
When I look at this chart I see the 30EMA as a good support, a...
The triangle was broken up and the price subsequently fall below the triangle support.
I think it's simply a refusal of break the triangle up.
Brake of support has not yet been retested - so I think there is a short opportunity.
In this GBPCHF pair of Forex, long sideway or rectangle pattern I identify numerous touches in the support lines. This lines indicate the highest and lower stocks prices (average) during the timeline of this pattern.
Seems like a possible cup and handle is forming on the 4 hour EOS/ETH chart.
In the domain of technical analysis of market prices, a cup and handle or cup with handle formation is a chart pattern consisting of a drop in the price and a rise back up to the original value, followed a smaller drop and a rise past the previous peak.
Friday trading review, each Friday I intend to post about a probable outcome I've seen in the market. Stay tune and follow me if this information is indeed useful.
Coming back at you guys with another probable scenario. After bitcoin hit well into its overvalued territory on the daily RSI we seen a minor retraction as expected to just below $7000.00.
The bulls...
I'll keep it sweet and short. As you can see we are nearing the end of the triangle pattern. I'm expecting a move soon.
Be ready for both scenarios because these kinds of patterns are usually sign of market trend continuation. The general trend is the lower red line which has formed over the past view months.
Because all the indictors are showing an exhausted...
- Price contraction after bullish impulse up forming. Large move will take place on confirmation to up or down. Here are the simple measured moves for each.
Not financial advice just my own charting opions for entertainment only.
All information is provided in the chart. (Look Yellow-notes on chart to see description)
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- HTF ascending within an HTF continuation pattern
- Ascending formed on top of the HTF structure
- A small double top formed with an arcing nature
This tells me that price is coming to the downside
A potential breakout to the higher 1.36 levels are a possibility. We will have to see a clean breakout of the 1.35200 Resistance to spike us to the 1.36 levels. We are going to hit a Fibonacci Level regardless, so if price doesn’t hit the 61.80% Fib we can see it fall with the purple trend line to bounce off the 50% Fib level.
If it holds support then it should trend upwards. There is a flag pattern and it broke it therefore it may be concluded it should now trend upwards. In the short term there is room for growth which may provide positive realized gains.
![STRATBTC: STRATIS [STRAT/BTC] Analysis by Morpheus [1080%Profit!!]](https://s3.tradingview.com/n/nWy0LLCV_mid.png "STRATIS [STRAT/BTC] Analysis by Morpheus [1080%Profit!!]")
