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Did Bitcoin Bottom?BTC looks to be following the same corrective pattern as Sept 7th-Oct 2nd (white line pattern) when BTC dropped from 53K to 40k. Price action is identical We are sitting in the same area on the trend line as we were before bouncing from 40K to 69K Currently breaking above resistance on the RSI, which also has had similar movement to Sept 7th to Oct 2nd. BTC is very correlated with the S&P which also appears to be bottoming as it just broke out of a descending channel on the 30 minute. The DXY is at overbought levels on the daily.
BITSTAMP:BTCUSDLong
by anamaly
1
ADAUSD Bullish Divergence and Update (repost)Important things to note: BTC is close to finishing its correction. BTC hit 56.5, I told everyone it might go to 56.4, close enough. BTC will have to push up above last low to insure bullish movement. It looks like BTC is heading lower than I expected. I still think we are nearing the end of the pullback. Unit then BTC will bounce around until the move is accomplished. Total2 has reached the bottom of its pullback in my opinion. Total2 will bounce around for a bit and then the upward move will start again. ADA has finally has a good test of the 200MA. I use a previous example of the 200MA test pushing the price upwards creating that base. My thoughts on the overall pattern of ADA has not changed. Basing patterns are common in a long term uptrend. If you don't know what I mean by basing pattern, it means a cup. Important dates to note: BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24. Before pushing upwards, BTC will have to move past its last low. Until that point I expect it to just move back and forth basically. It has failed to maintain its current position but I believe we are nearing the end of the pullback. Total2 looks like it has a bottom, and I expect the movement to be similar to the movements in the past after a pullback (bounce around and consolidate, then push upward rather fast). Now, ADA was starting to form its basing pattern a bit early but got stopped by BTC . Everyone here knows I wanted to see a test of the 200MA before hand (I have talked about it in almost every ADA chart for the past month). So this move did not surprise me at all. Also, it doesn't change the outlook on ADA. The chart I made a few weeks ago calling for a basing pattern to form for ADA is what I expect to happen. I have shown you a previous example of what I expect. I have not been putting out as many ADA charts recently because honestly you know all of the important information at this point. BTC is on the last leg of the bull run, enough money has moved into alts to have them follow BTC , and ADA should create its basing pattern where it will produce more targets from there. Though I am sure posting everyday will gain me a bigger following, I don't care about a following, I am a trader. If I do not have something to talk about it wastes your time as well as mine, and I value my time. The most I do now, is explain past movements or call out something I see that may be of interest so you understand what is going on. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSDLong
by mysticalwalrus
25
EURUSD: Waiting for the 1.1340 breakout to enter longEURUSD has already tested the bottom of the daily channel that you can see in the chart below showing the initial signs of reversal and now the top of the hourly channel at the 1.1335-40 area is going to be tested. We have already bought small positions in order to test our upside scenario and we are going to add more with an hourly break of the 1.1340. We will set the stops below the candle that will lead to the breakout targeting initially 1.1380-85.
Long
by Chartist-Trading
Bitcoin Bounce Coming?Since May 19th we have been following this upward trend on the RSI. Every time we touched this trend line we had a bounce leading to a higher high. And every time but once it led to a higher low as well. I expect us to create a floor at these levels (59-61k) and continue our up trend toward 100k. Im expecting resistance around the 80-85K level(first thin blue line of resistance) for the end of the month or early December. This is marked with the first thin navy blue resistance that has been holding us down since it broke support in June.
BITSTAMP:BTCUSDLong
by anamaly
1
Predicting the bottom: what can 2013 and 2017 tell us?If you're like me, you have a job and hobbies and things to do other than staring at charts. I consider myself an investor and cycle trader rather than a swing trader. The vast majority of my gains are made on only a handful of trades made over the course of a few months/years. As I mentioned recently, I think this cycle has yet to peak and there are still significant returns to be had in the coming weeks/months: So why am I thinking about the bear market bottom now when we likely have yet to see the bull market top? The answer is simple: if you have an idea of where the bottom will be, you'll have a better idea of where to sell the top. And it's a lot easier to sell in a scorching hot market when you have some degree of confidence that you'll be able to buy again in the future at a lower price. Earlier this year, I made predictions on where this cycle's top would be based on the rate of diminishing returns of the last two cycles: Now I'm using this same type of analysis to get a sense of where price will bottom out in the inevitable bear market. Here I'm looking at three measurements from the last two cycles: (1) Cycle top to bottom (2) Prior cycle top to next cycle bottom (3) Prior cycle bottom to next cycle bottom Then, using the same rate of diminishing returns we saw from 2013 to 2017, I've extrapolated the values for the current cycle. Here's what I found: Prior cycle top to next cycle bottom: $29,499 Prior cycle bottom to next cycle bottom: $19,192.66 Since we don't yet know where this cycle's top is, we don't have the data required for the "cycle top to bottom" projection, but we can look at the numbers for a few realistic scenarios for where the top might be: (1) $115k (most likely scenario): $21,689 (2) $69k (bearish scenario): $13,013.40 (3) $180k (bullish scenario): $33,948 I think the $115k top is the most likely scenario, so I'm choosing to use that figure for now. It's probably also worth noting that bitcoin has never bottomed below a prior cycle's high. And while I think that's probably a safe assumption to make again for this cycle, I don't think that pattern is likely to hold much longer. Finally, taking the average of the three values (29499, 19192.66, and 21689), we get $23,460.22 (there's that CME gap for all you superstitious fanatics). There are, of course, a lot of variables at play, so I'm certainly not going to start placing orders at $23.46k as if it were a foregone conclusion. But this does give us a realistic idea of what we should probably expect, and can shape our decisions going forward. So, with this in mind, my next BTC target ($79-80k) is likely where I'll ramp up the profit-taking process, reallocating and reducing positions. Sure prices may continue running higher, but it's a long way down to the bottom, so I'm more than happy to start securing some profits here because I can be fairly confident that at some point over the next year or so I'll be buying much much cheaper.
BITSTAMP:BTCUSD
by reees
6
BABA Found Bottom? Reversal Head and Shoulders Play to $210On the weekly chart, $BABA looks like it has found support at $155 and is forming a reverse head and shoulders pattern. I'm looking for one more touch of $155 or slightly lower, followed by a close above the $155 support to start adding a long position. A break above the downward resistance trendline would confirm a bullish break upward and $180 giving us our next big resistance. A close above $180 should send this back to $210.
NYSE:BABALong
by CharlestonTrader
This is FORTH. This project is in its infancy and for the price it is today it is a steal There is a circulating supply of only 8,659,067 with a max supply volume of 14,998,897 If you look at coins with this kind of supply that are successful they usually attain a goal of around $400+ within one to two years of inception This coin could do it in that time frame or sooner because it is already on major exchanges which will give the world access to it. This is off of their website to give a brief explanation of what this coin is: AMPL is a cryptocurrency and financial building-block. Much like Bitcoin, it is algorithmic and uncollateralized. However unlike Bitcoin, AMPL can be used to denominate stable contracts. I truly believe in this coin and at the bottom(thats what i think it is) I will continue buying all the way up to my goal of $400. I currently own AMPLEFORTH check it out and if you like the project and are willing to take the ride jump in with me trade it or hold it and we all make money www.ampleforth.org
Long
by jgrullon11
1
Learn To Trade Technical Analysis Hammer & Shooting StarHey Traders today I wanted to go over what I believe is one of the best ways to trade any market with Japanese Candlesticks using hammers and shooting stars. Normally you want the wick of the candle to be at least twice the size of the body of the candle. Alot of times they can lead to explosive moves in the markets. So lets dive in and see how to use this powerful technique in your trading arsenal. Enjoy! Trade Well, Clifford
Education
by TradetheFuturesCharts
5
AMC End of October: Is $36 the bottom or back to $32?3 weeks have pass since October. I was wrong about the bullish hammer. I expect to go up today but it went down. One pattern I hesitate and over look was the head and shoulder pattern. The price action today confirms the head and shoulder patterns. Interestingly back in September the same thing has occur. And now what to expect October. Will the algorithm repeats? If so, I expect AMC to dip even further to $32 based on the fib retrace of $28.92 and $44.44. If not I expect $36 is the bottom and we are not looking back. The falling wedge will be determine by next week price action.
NYSE:AMC
by gojira91
5
It's almost $ALGO time$ALGO has been consolidating for weeks now, since the mid-september move after hitting 2.50. The 1.55 area has shown strong support after being tested multiple times in late September. Each time on less and less volume, indicating that selling pressure is waning. Price is currently bouncing off its 50EMA and the bollinger bands are tightening. I still think we could see one more retest of that 1.55 area but if price breaks its downtrend line then my gut might be wrong. RSI is peaking above its short term downtrend line and the MACD is a few days away from a crossover. Keep your eye on this one.
COINBASE:ALGOUSDLong
by Drewsified
2