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Breakdown

The bear scenario should the pattern prove to be a diamond top.A big red candle has taken us well below the diamond pattern and just under the 4hr 50ma where it is currently retesting and finding resistance....if that resistance solidifies and continues to maintain resistance then we are most likely confirming the pattern as a diamond top in which case its breakdown target is 10628. This may only be the beginning of the downtrend if that were to occur because it could also trigger a bart from the 1 day bull flag with the incredibly long pole which would give us a bart target all the way down at 8968. If this were to happen it would invalidate our adam and eve double bottom chances and potentially allow our double top to still trigger which could lead to yet even more downside so let's hope it doesn't. I think If we were to revisit 8968 we will be very very likely to fill the 8.5k and possibly the 7.2k gaps and then se a huge influx of buyers launch the price back up before it has a chance to trigger the double bottom bu of course we will have to wait and see if we even reach that low first and then how price action behaves once we do. there's still a chance this can be yet another bear trap and the price action could still bounce back up at the last second and break above the diamond/symmetrical triangle pattern but for now as long as the 4hr 50ma is maintaining resistance probability now favors at least a diamond top breakdown. Let's hope that changes but are fully prepared for if it doesn't.
COINBASE:BTCUSD
by DrDovetail
#litecoin #ltcusd - Will the "3D Ichimoku-Cloud" hold?Litecoin is not having a party here. It failed to overcome the $100, after that it broke down the support-level and now it is facing a potential E-to-E on 3D downwards whilst the cloud is ALMOST already bearish. Something big needs to happen here to save Litecoin from a major down-trend. On top of that Litecoin does have some influence on the price development of other altcoins, so this is not only important for LTC. Assuming that BTC is going to make a bigger move: Recently Altcoins were not performing well, so no matter what direction Bitcoin goes, Altcoins look due for more shorters coming in. Be careful if you are "hodling", the further the price decreases the LONGER the way back up will be. Let´s see if this minor support + 3D-Cloud holds! If not next targets would be between S1-Q and the breakdown-level around $68. _______________________ Warm regards, Neru
BITSTAMP:LTCUSD
by Gl4diator
#cardano #adausdt - Failing the bullish reversalWith altcoins bleeding a lot recently, also Cardano, for now, failed to hold above the breakdown-level and is currently testing it from below. From now on we need to watch out more for a break of the 6h-Diagonal than for a potential double-bottom reversal: ADA has more down-potential until the next historical support/accumulation zone. It will be hard for ADA to turn this picture with still rising BTC Dominance. As usual, I marked you the significant prices and also the important Pivot-Levels. __________________________ Warm regards, Neru
by Gl4diator
$GDDY Disaster in the making. Chart screaming GET OUTI was expecting an acceleration in selloff but not this bad. On one side, the whole market is dropping but it is not all. There is so much more with GDDY. Technically the chart is broken and broken hard. Much lower prices are coming. Tomorrow I think we will see the first target that I set on Friday. We may end the day in $60 - $62 area tomorrow. At this point, there is not even an attempt during the day to have any kind of bounce. I think there will be an even larger amount of institutional investors that will try to get out. As I said on Friday, any bounce is a chance to get out or add to a short position. In a few weeks, we should be at $52.
NYSE:GDDYShort
by Trade2Double
$GDDY A bigger picture on what is going on with this stockI have been following this stock since it's just started to form the bearish rising channel. Eventually, classic inverted cup and handle formed and what was missing just a breakdown on bigger volume. Well, today we got it. I do not chase such sharp moves but decided to enter on 50% retracement. There is a chance that it may go up a bit more giving me the perfect opportunity to add to my position. But make no mistake, there is a very little chance that this stock will be here for a long time. It will slide and crash much lower. There might be an attempt to close the gap, to wipe out early shorts but the trend now is DOWN. From this point, we may see a long term drop. $GDDY has a lot of internal problem and investors are freaking out, today action speaks for itself.
NYSE:GDDYShort
by Trade2Double
2
#bitcoin - 3D important levels #pivot #trendlineAnything red or yellowish is sort of starting to worry me. Also talking to a lot of people recently, I start to think the bearish approaches might have some good reason to do so. Some important levels down here, that BTC should stay away from. Let´s not break the P-Q downwards! Sideways would be enough (for most of us). ;-) Happy trading guys and stay safe. Always set stops. #dyor ..................................................... Warm regards, Nerubica P.S: To those who start asking me about why I almost never give directions: If you fixate on an idea you lose the capability of adjusting your strategy and do the right thing, that´s the reason, make two plans as you would write a code, if and else.
BITSTAMP:BTCUSD
by Gl4diator
1
BTC lookin shakyHolding support for now squeezing under the box of resistance(red). I've outlined the CME gap thats possibly building up to get filled which also coincides with a fib level taken from the bottom of the bear market to the top of the bull market. Not guaranteed to fill but we all know about the gaps. A break of the upward sloping support(10307) could see us retesting the previous support @ 9620 further than that the Gap.... I feel its worth mentioning that there is also a gap in my red box off the side thats above us. Good luck traders!
BITSTAMP:BTCUSD
by platinumdubs
approaching the neckline of a big 1hr head and shoulders patternNormally I'd list an idea like this as neutral until I saw confirmation of a breakdown below the neckline. However in this situation after such a parabolic rise plus what seems to have also been a blow off top and the fact that we have gaps as low as 8.5k on the futures contract that still need filled, I think probability favors a breakdown here. Not only that, I think as BTC dips many altcoins are going to rise in value against btc. I also think we will likely find our ultimate support around the red horizontal at 8504 or so and not reach the full breakdown target before we reach our massive rebound. The good news is, we wont hit a lower low on the daily chart until we dip below the horizontal purple line on my chart, so as long as we don't go under 6k the bull run should continue after this correction. I will b waiting for confirmation on the neckline to sell any more of my position but I will limit sell back around 8550 if it does indeed plummet and no wait for the full drop target. If it does dip the entire way I may then just buy the dip. There is of course still a chance we wont break back under 10k but the probability is small...even still because of that I will await breakdown confirmation of the h&s before selling any of my position.
BITSTAMP:BTCUSDShort
by DrDovetail
inverted c&h w/impossible breakdown target signals xrpbtc bottomthis pattern here is why I believe xrpbtc will no longer close any further candles under this current price point. We are in an inverted cup and handle pattern with a downward slant but the breakdown target is negative satoshis which I think is an impossibility. Therefore probability highly highly favors this being the bottom. last time we had a head and shoulder pattern with an impossible negative breakdown target on the xrpusd, it made for an obvious fakeout and instead of a breakdown it had a pump. All this considered, Load Up!!
Long
by DrDovetail