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ABC

Weekly Market breakdown: USD/JPY analysisprice has demonstrated a lot of bearish pressure, however, we have reached a key area of institutional demand and dynamic area of support as previous price action showed that 108.000 was an area of accumulative orders. If price closes as a Doji candle then the price could reverse to the key psych zone of 110.000 candles on smaller time frame must demonstrate a break above-counter trendline to then form a new lower high. On a longer-term perspective, the price could show further downside due to heightened tension between China and the US.
Long
by danresdidualfx
2
Weekly Market breakdown- EUR/GBPThis is a potential setup that has definitely interested me, this is because the price has overextended as we've seen many consecutive bullish weekly candles, however, the price has approached monthly resistance and key liquidity region meaning there may be some profit-taking by institutions around this region, but to a lot of traders price may be easily displayed as a liquidity pool zone. Therefore, wait upon signs of rejections around this zone that conveys exhaustion in buying power before taking possible shorts. Medium targets maybe 0.8000-0.7000, this is in confluence with the 50% fib retracement zone as our point C area of the pattern.
Short
by danresdidualfx
2
BTCUSD - Ending Diagonal TriangleIs this the correction everybody is looking for? The best pattern I can put together to make their wishes come true is an Ending Diagonal Triangle. Inside the triangle there is supposed to be a 5 wave count that I won't attempt to draw. Suffice it to say it should touch the top line of the triangle one more time before heading lower. Then perhaps an A B C pattern out the bottom of the triangle maybe with wave B touching the underside of the triangle before continuing to point C. If this does play out then I would have to guess that point C would touch on or near the multi-year trend line on the chart (baby blue line) There is much support building around this area. By this time all of the oversold indicators will have calmed down and the Perma-Bears will be calling for $1,200 to $3,000 again. (lol) But instead we get a 12G rocket shot off the blue line and continue our journey to the moon. If any or all of this plays out as I have described I will try not to break my arm patting myself on the back. Otherwise I will just keep my mouth shut. :0) I'm still long and will remain so even if I do try to scalp a few bucks at the top of the triangle. Win or lose, 80% of my long position is staying in cold storage and will not be available for trading. Good luck everybody. Next week, and the new month, should prove to be very interesting. For more information on the Ending Diagonal Triangle pattern see: thepatternsite.com If you think this idea has any chance at all to play out as described remember to hit the thumbs up button. Thanks!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Is the big ABC finally over? [BEAR MARKET CONTINUATION]Well, I was not expecting this 5th wave to extend all the way to 8k, however there was a liquidity pool by the looks of it - 11,000 BTC worth of shorts were closed at that level. Regardless, my outlook has not changed - only slightly prolonged. I'm expecting a big move on the 25th of May, and very likely it will be to the downside. FOMO is picking up, and the masses don't see an end to this rally. The alternative to this ABC, is that we just finished wave 3 / 5, will have a correction to $5,400 and go on to make a double top at 8k, or even surpass on to 10k. Just putting this alternative out there, however I'm still in favor of the ABC with a target of $2,500 - $2,800 -Hawk
BITSTAMP:BTCUSDShort
by spyxo2x
Bitcoin from Jan 2019, to Keep Bears Objective and Bull Hopeful I posted this chart a few times the past month and started to post it in Jan at the 3400 low. Back than the market was once again so bearish, that i tried to give another objective perspective to where we might be at that point. I know most crypto people have not seen enough charts in their live to know this, therefore i made this post to show several other markets. In this case all FX charts, but i could have shown others as well, no matter which market. I's just how markets work. When a low a set, we just usually see a re test of that support/low. You have to see it like, the market knows it's weak and bearish, but it wants and NEEDS to test again if there are still more sellers than possible buyers in the market at the same lows. With this i mean the Dec low, the rally that followed and than testing the 3350/3400 lows again to see how the market will respond. As mentioned in Jan, i could not say if it would be a simple ABC to like 4200/4600 or that we would see an impulse wave (12345) to 5K/6K prices. You just can't know upfront, whoever tells you they can, is simply making an subjective assumption. What i mentioned back then and in my normal Bitcoin analysis, we need to see how the market will perform during the way up. If we would see a big rally straight through the 4600ish (which was my key level between bear and bull market on the mid-term), an impulse wave would be much more likely. If we would see a slow rally through 4200 and see it slow down until like 4600, than an ABC would be much more likely. You just can't know this upfront, because you can't know what the markets intentions are at the start. But you can make a good/decent assumption when seeing certain rallies. Based on those signs, you can judge how strong or weak the market is. With those facts, you can still not be sure of anything, but at least your assumption will have some real foundation. A part of the previous analysis: There have been so many people telling me that a break of the 4200 was almost impossible the past weeks and to be honest, it was taking a lot of time to break up so it was far from easy to think it will break the 4200. Again, all had very compelling reasons even towards me. Each time i would simply look back at these charts and would look at them and think okay, they are right, volume is crap, moves are slow, taking a lot of time, no conviction, bearish indicators and many more. But then when looking at the game plan i had prepared 2 months ago and the charts and movements, i would simply tell myself okay: A) Did something weird happen since the Feb low? No, we got rejection again at 4200 as suggested simply to make a higher low and attack the 4200 again. Of course the past 2 weeks it was not easy to to think the 4200 would break, but the past days before the break up, there were several signs indicating the chances were increasing, as mentioned in my BTC' analysis. B) How is sentiment, bearish or bullish? What i could see on TV and from comments and my own groups, it was mostly bearish , so that was actually even perfect. C) I can continue with more of these things but i won't, think you get the picture. If you find this interesting, i recommend to read the previous chapters as well of the: Bitcoin long term ABC examples. You can find them here below. Don't forget to like if you appreciate this :) Previous analysis
BITFINEX:BTCUSD
by botje11
24