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Bearsih

COPPER LOOKS BEARISH ON INTRA-DAY - Elliott waveWe are tracking a big impulse to the downside, from the 4.58 lvl. on COPPER. Red waves 1 and 2 are completed, so current price action from 26th of January can be a big wave 3 in the making, with its five-wave substructure, and can target the Fib. ratio of 1.618, where support can be seen. Intra-day price activity suggests a minor correction in action (iv), which can look for resistance at the fib. ratio of 0.382/0.5, from where a final leg lower for a sub-wave iii of 3 may show up.
CAPITALCOM:COPPER
by Gravity33
S&P500 In a correction, within downtrend - Elliott waveS&P500 may have found a temporary low at the 4223 lvl., as price made a sharp reversal afterwards, which we think is a corrective wave (4) in progress. Possible resistance for wave (4) is at the Fib. ratio of 38.2 and 50.0 and at the lower parallel channel line (4425/4486 area). A new sharp, impulsive decline from the mentioned resistance area, would suggest a completed correction, and wave (5) of A underway. If current bounce gets deeper and more complex, then higher degree wave A could have found a low at the 4223 lvl. and a bigger correction as wave B is underway. In this case wave B correction would retrace higher.
SP:SPX
by Gravity33
BTC Daily Potential For a Reversal?BTC/USDT 1D chart currently still showing us continued bearish momentum, although the MACD is pointing to a weakening bearish trend, Stochastic is oversold and needs some sort of a bounce higher to cool off. I am looking for a new trendline to form here for us to follow, just an idea at this point. Support zone and 200MA really needs to hold here. If we break 200MA daily, open and close a candle below it, and have a bearish retest of it, I will be looking to short BTC for the short term. I will post ideas if that plays out.
by UnknownUnicorn15302902
BTC Bearish Logarithmic XACB ButterflyTL:DR One of the most powerful forex patterns is visible on the bitcoin chart, but only on the log scale. Ultra bearish if correct. Intro (a bit blogposty) I am constantly looking for the largest market structure I can find and doing such drives me to expand the number of patterns I can easily recall. The harmonic patterns are the trickiest for me due to all of the internal consistencies. I was looking at the bitcoin price action over and over again when I saw the harmonic butterfly. When you look for the ratios within the default XABC pattern you get the wrong ratios but when you put the chart on log scale and make sure your fib retracements are set to log you get almost perfectly retracement/extension ratios we are looking for. This chart formation has taken over 3 years to develop. It should have some power. More Analysis The main chart is very explanatory of the big picture so we can dive in to some further analysis. My linked comment will detail my rational from earlier on how I think we are in a bull trap. Saves us the time from going over it here. But first lets zoom in on the XABCD structure. On the daily zoom in we can see our tolerances for B an C are very tight. Very comforting for the overall structure. A quirky chart is the 20 day chart which came from my trying to combine some 10 day candle stick formations. Looks pretty bad. Misc (ideas y'all can steal as I don't have the energy to flesh out) The ETHBTC chart is very concerning given the high level of correlation between all crypto. A broadening wedge is a bearish formation and even if price action returns to the base of the wedge ETH takes a hammering against BTC. I would assume that this means that crypto falls victim to the everything bubble but bitcoin recovers first while ETH is still falling. Very tenuous supposition. This chart is a bit busy conceptually, but meh. We have a red ichimoku cloud that has turned red as of several days ago and I have not heard anyone mention it. Curious but I do know so many people are looking at the 4h chart and may miss this. Pi cycle is bearish, that we know and by itself isn't conclusive because this is the first time it is going live. The on balance EMAs takes the default on balance volume and applies EMAs to get an even wider view of trends. The 20 crossing the 100 is a very major bearish sign of persistent selling. Final Thoughts This is all very experimental. We are taking a pattern that I can't verify is suppose to work on the log chart like this. But what I do know is the uptick in volume helps confirm that someone was probably seeing the same thing I did, just a head of me. And this dude had enough BTC to nail in the close. My linked post shows TSLA is in a massive correction. If they and Musk take a loss on BTCUSD the memetic energy into this dump will be incredible. Unlike some people out there, I see some clear indicators that we should not be recklessly long. If this pattern is valid the gold and silver bugs will be crowing victory. BTC is suppose to be currency so it would make sense that a Forex pattern would work. And with Dollar milk shake the last currency standing is suppose to be the dollar and DXY is looking very strong right now while inflation is soaring. Seems easy to think that everyone not in the US will dump BTC to feed themselves.
COINBASE:BTCUSDShort
by This_Guhy
26
Bitoicn in bearish ScenarioFollowing the rise of Bitcoin, traders should pay attention to a few important points: 1- Forming a descending wedge pattern in the 8-hour bitcoin time frame 2- At the moment when the price hits the edge of the pattern, there is a relatively valid resistance that prevents the price from rising 3- Stochastic has formed a Bearish divergence 4- Forming a pinbar pattern in an 8-hour timeframe near the edge of the pattern and the resistance level All of these reasons indicate a bitcoin price drop for a short period of time to around $ 11,200 to $ 11,400. Only if Bitcoin can break this level of resistance will it be possible to continue the climb, which is very unlikely, and the most likely scenario is the downtrend scenario to the bottom edge of the wedge pattern, where targets of 11200 to 11400 are very likely. ************************************************************************************************* as you see A cup pattern is made The next Target can be there ( shown on the chart ) You can place your Buy order as soon as the edge of the cup is crossed and tested again If you liked this analysis, let me know by dropping that like button! If you have any questions, ask me here ! Until next time! Cheers, OtanaTA ( Hamid Mojarad )
by HamidMojarrad
1