Iota preparing for MASSIVE move!Note the following from my 15m chart:
A) Iota is currently in an ascending triangle (uptrend). It is also running out of space and looks like it will break around 4pm EST.
B) The 50 day moving average is currently acting as a support.
C) A cup and handle has formed which is a strong indicator of an up move.
D) The key here is the purple resistance line, it has already tried to break a few times (see long wicks where price was rejected). If it breaks the resistance, expect a massive move up.
Average
Bitcoin squating for another jumpIt's Friday morning and another Bitcoin Breakdown analysis.
During this week we experienced the breakout from the ascending triangle formation I reported on forming last Friday.
The breakout occurred earlier than I hoped as the RSI was just to high to support a large breakout.
As you can see on this Daily chart, there is a large presence of bearish divergence within the MACD and the RSI.
I don't foresee this to be alarm bells to start looking at an upcoming bear market, but a healthy retraction to get our RSI back out of oversold territory.
While we're on the top of RSI, if we take a look at the weekly RSI for BTCUSDT it is heavily within the oversold region.
This retraction will hopefully bring it back down to just under 75 on the weekly RSI and around 50 on the daily RSI before we see another attempt for the bulls to over come.
My next major point is the trend line I have drawn in yellow, I foresee the Price action to trend sideways or slightly down until it makes contact with the trend line, the following it until another large breakout occurs. This a more likely than a breakdown past the trend line to test the 45MA line.
I try to keep these ideas simple and effective, if you feel there is anything i've overlooked or missed please bring it forward. The more ideas the better. I
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The following ideas are general and you should contact a professional financial adviser before acting on any investment as it may not be best for your financial position. This is in no way finical advice, so do you own analysis before acting.
RIPPLE [XRP/BTC] Analysis by MorpheusAll information is provided in the chart. (Point on Yellow-notes on chart to see description)
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Bitcoin: Looking to Test the Local HighCoin Savvy here with a quick short term analysis. There’s something I want to talk about and it’s the 377 ema.
Before I hop in, I discussed in my last post ( )
about how if bitcoin crosses the monthly candle above the 21 monthly ema (bullish on a very high time frame) then I could easily see price action get up to around $6,000 or $7,000, it’ll take some time. Now it’ll obviously have to break $5450 and $5600 before that happens so taking it day by day here.
The daily candle closed tonight above the 377 ema and this has been providing resistance for the past month so far.
Bottom indicator:
RSI is in the neutral zone trying to test that 21 ema. There’s a little bullish divergence with a higher low on price action but a lower high on the RSI and allowing the indicator to reset a little while maintaining supports.
Top indicator:
Stochs having a fresh cross up and pointing up
Daily chart looks like it wants to come up and test like $5450-$5600
That’s all folks, I’ll be writing about the 2 day and 3 day charts once closing time comes and discuss where price action can end up next.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
BTC - Coinbase Weekly GlanceHere is a look at the weekly Bitcoin chart on Coinbase. I have taken a SWAG at extending the 20 and 40 week moving averages to see where they might cross. I also added the RSI to see about where the bull/bear delineation might be.
I don't dispute the fact that the price is going to move around these averages, but I still maintain that we have made the first step towards the next bull run. $4,100 is about the lowest possible low IMO that would still respect the weekly averages and the bottom break out. Are we going there? Nobody knows and I certainly can't say, but I do believe strongly that our range is between there and where we are today. About a $1K range guessing game. Am I going to sell at $5K in hopes of catching $4K? Nope, because we could just as easily wake up one morning and have jumped from $5K to $6K. Trying to squeeze that last little bit of speculative profit out of Bitcoin right now is just now worth it to me. I'll continue to sit tight on my long position and wait....
BTC - Bitcoin on Sale! Get em while supplies last!This is the pullback I was waiting for. I only needed a few hundred bucks to secure my last whole bitcoin. As of tonight they are off the market and sitting in cold storage. I left a few fractions to play around with, but the majority is gone for quite some time.
Since 2012 whenever these two averages cross we were either in a bull market or a bear market and remained so until they crossed again. NEVER have they crossed and uncrossed momentarily along the way. Either bull or bear, that's it. Also, whenever in a bull market the price of BTC remained above both averages. Likewise in the bear market the price of BTC remained below the two averages.
Right now the price of BTC is above both averages and the two averages a lining up for an eventual bull cross. I'll call it the Platinum cross as the Golden cross gets used all of the time.
Also notice the breakout of the bearish channel and the approaching touch-back of the 250 moving average. This pull back is a good thing, but I think those still expecting a break below 3K or 4K at this point are not going to get it.
Again, NEVER since the beginning of this chart history has the price been above both the 125 and 250 day moving averages and a bear market continued. The ONLY oscillation was right around the cross of the two averages with they were so close together that the price had an opportunity to cross above and below each average. But one the 125 (blue) crossed over the 250 (red) that was it, the new bull market was in full swing and they would never cross again until the start of the next bear market.
We are there now. Not too much longer before they cross over into the next bull market.
As for the capital I had put aside for the next bull run I'm all in. I literally only have two cents left in my cash account balance after tonight. How that happened I don't know. I wanted it all to go into BTC. lol
I may not post much after this. I've exceeded my personal accumulation goals and now all I can do is wait. It may take some time before everyone agrees that the bull market has started but that's OK. I can wait.....
Gold is look like continue selling on daily and weekly gold look like to continue to sell bear this mind this is not the trade setup first wait for price action to confirm us market direction i better suggest to sell it on the break of structure for aggressive entry look for entry box which i mentioned on chart
if you like my idea don't forget to like it :) good luck see u guys soon.
EURUSD - SHORTprice coming up to the 0.705 and 0.79 zone on the fib also a price reversal zone so expect a push to the downside. also take note that on the 5min chart price has tested the 150MA (RED LINE) several times and was unable to break through it so my thoughts is that it will be used as resistance.
Good luck!
-Pauric
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The world won't end if weekly MA200 is broken!Even the legendary Masterluc himself, gives too much credit to the MA200. And yes, it is an important support, because it acted as solid support in the 2014/15 bearmarket.
However, before that, the MA100 was considered solid support, and it was broken in the 2014/15 bearmarket.
It seems that we go further down on the MAs, probably this time, MA300 will act as solid support, in the 2000's. A flash crash below that is possible, which would nicely line up
with the 1800 area, that I had in mind since quite a while.
The moving averages move such, that they creep towards the sqrt trendline, because the trendline is getting flatter and flatter with time, so that the higher numbered MA's have time to
creep towards it. Therefore the square-root trendline acts together with the weekly moving averages as support for BTC.
I stronlgy believe that after BTC has found the bottom in this bearmarket, and most weak hands are shaken out (as in the last cycles), we can start the new uptrend in 2020.
I always also look at number of wallet growth, and daily transactions over at blockchain.info, and yes, btc is still growing exponentially, no surprises there :) Disruptive technologies always do that, and we are still far
away from saturation point (will be when BTC users go into the billions)
I corrected the ATH date a bit behind, after I saw the excellent analysis from TradingShot, he figured out the cycle length, which is more accurate than my initial cycle length:
His chart, together with this one, should give a good estimate on the timeline and possible lows and highs of this and the next cycle.
Good luck fishing the bottom in the next few months :)
The strong hands will be rewarded a few years later, I am very convinced of that.
The Moving Average Crossover Strategy - How to choose the best?Hey there!
Well, this is not a trading idea actually. I just want to present my new tool to the community.
This tool will help you to choose a type of moving average to create the most profitable trading system based on crossovers.
Click on the price scale, point to "Labels" and switch off "No Overlapping Labels" option to get a better view.
Detailed description can be found here .
I repeat
NOTE: The results may vary on different tickers and timeframes.
If you see the preview result it doesn't mean that these crossovers will be profitable on other instruments and timeframes. This is a normal situation because time series and their characteristics differ.
I know that because I tested this tool before publishing.
NOTE 2: You can use this tool by yourself and experiment with it, or you can order a study and I will share the spreadsheet that contains results. PM me for more details.
Good luck and happy trading!
EURUSD intraday gains expected above 1.1410The euro currency remains well supported against the US dollar in early Monday trade, following a dovish speech from Federal Reserve Chair Powell on Friday. The EURUSD is expected to advance higher on an intraday basis while the pair trades above the 1.1410 level. A daily price close above the pairs 100-day moving average is essential for further technical buying in the EURUSD.
The EURUSD pair is intraday bullish while trading above the 1.1410 level, key technical resistance is found at 1.1470 and 1.1500 levels.
If the EURUSD pair moves under the 1.1410 level, further losses towards the 1.1360 and 1.1330 levels remain possible.