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If Bitcoin Repeats History? Descending Triangle Looking SimilarThe daily bars of the 2018 descending triangle are starting to match the current 2019 descending triangle. If the bearish breakdown also repeats itself in the same way, then this would be the outcome, continuing on from where the charts fit together. Notice how a similar bearish breakdown would take us to the 200 Week MA, given its current trajectory. This would be long-term bullish if this happened, ie finding support again one year later $2K higher. I'd therefore find it unlikely to return to a bear market, or even continued consolidation (which would both be under the 200 Week MA).
COINBASE:BTCUSDShort
by dragononcrypto
Google. Approaching Headwinds- GoogIndustry: Google is a Multinational Conglomerate within the Internet Services and Technology Industry. Assessment: Looking at Google from a technical market perspective will surely increase shareholder weariness. With steep bullish accumulations and the price bracing near all time highs we can definitely expect an increase of exchange activity. Long Term Investors are expected to offload partial positions while the entry bulls will likely start to sit sidelined waiting for a more conclusive consolidation structure. Although the long term profitability, market share domination, and future prospects of Google’s operations appear through its fundamentals integral and sound, technicians may observe an overall high evaluation. The stock currently trades at 29x earnings. This may invoke a temporary or prevailing bearish beta trend in the short term. We examine the protrusion on the exterior of the macro support line. This is a signal for potential price breakdown. However, keep in mind that a short term devaluation does not necessarily signify a reversal of control from the bulls to the bears. Micro Market Climate: Canary Jones assess’ a bull controlled, “bull-bear push” trending market condition categorized by increasing bullish accumulations being “pushed down” by selling activity at high resistance regions. Patterns Identified: Narrowing Wedge Bullish Flag 2 Measured Moves Up Fundamental Ratios: Long Term Debt to Equity: 2.22% Quick Ratio: 3.93 Declining Current Ratio: 3.96 ROI: 14.28% ROE: 16.26% ROA: 12.38% Net Income: $30.74 B P/E Ratio: 29.28 EPS: $12.78/ Share EBITDA: $16.53 Gross Profit: $77.27 B Source: Google Potential Risks Devaluation: Due to a supposed algorithm change on Google’s popular YouTube platform, Google’s market cap has been devalued by $70 billion dollars. An enormous sum and a testament to the negative net return of YouTube's primary operations for Google's long term prospect. Regulatory: Due to the impressive market share dominated by Google, numerous countries have moved to place particular regulations against Google and a variety of online tech and social media companies. Googles size and web traffic places attention on the company which may position the company at risk of future regulations regarding the companies flexibility with online content. Numerous anti-trust probes in both Europe and the US have recently sparked wide controversies regarding the companies operations.
NASDAQ:GOOG
by CanaryJones
#bitcoin - Descending Triangle?Yesterday / last night have destroyed our symmetrical triangle on Bitcoin and pushed it towards the $9k. Most of you already know, that this is anything else than a bullish chart pattern and may break very soon OR can still swing for a while, up to a couple of months possible. We are already within the red support key-level and need serious, serious bulls to turn this picture if we want to grow mid-term. The overall target of this descending triangle would be around the old consolidation support around and just below $6000. Keep this in mind, there are already a lot of people short or sold, and not ready to buy back just yet. Quarterly Pivot is also endangered. ___________________________________________ Warm regards, Neru
BITMEX:BTCUSD.P
by Gl4diator
1
#ethereum - Falling Wedge & Key-Support "D"Ethereum did not manage to overcome the "BO-Level" after it bounced off a former breakout-bevel and is yet not showing any signs of recovery. It´s the opposite, producing a trend-follow H/T right now, was not a very good start also maybe printing a hidden bearish divergence today. No reversal signs are seen on Daily so far. Although passively sitting on a rather bullish falling wedge, this does not mean we cannot go lower to the key-support around $163, where also S1 Quarterly and Monthly S1 Pivot sit and wait for the price to touch the ground. As usual, I have labeled important prices. The trend is not yet grown up bearish on Daily. _______________ Warm regards, Neru ---------------------- Charts made with: Key-Levels & Trendlines
BITMEX:ETHUSD.P
by Gl4diator
bearflag poentially breaking down...target 8.6k?breakdown no confirmed just yet but probability is definitely favoring it now as we can see price acion now firmly under the 4hr deathcross. If price action cant climb back above that deathcross then both the bearflag breakdown and he death cross will be sustained/confirmed. this is the perfect spot if the breakdown is confirmed for price action finally reach that 8.5k gap on cme futures chart bit of course the smart trader will make sure to buy back in a few pips before that and if we continue to fall and hit that target to also buy the dip
COINBASE:BTCUSDShort
by DrDovetail
1
Diamond bottom target hit. 10600 horizontal current support.I anticipate this is only the beginning of the dip but we may see a brief relief bounce from here before continuing to the downside. We have hi our diamond top drop target but we can see we appear to be doing a bart breakdown from the day bullflag and considering how long its pole was we can actually breakdown all the way to 8.8k I'm not saying we will go that far down and I'm no saying we couldn't go even a little further and hit that 8.5 gap. both are quite possible. I however am probably gonna try to play it more conservatively and ladder buy back a small amount here/close out small percentages of shorts then maybe wait until the yellow horizontal around 9464 to ladder in more aS well as laddering in amounts at any significantt MAs or golden fib lines as we run into them. as log as we close consecutive 1 day candles under the 1 day 50ma(aka buy/sell line) we are in a seller's market bu hopefully it's somewhat short lived. I anticipate the correction to be over hopefully by the begin of september or at least the 1st half of September. We need to keep a close eye on the 1 day 150 ma to ensure it maintains support to ensure we stay in the bull market.
COINBASE:BTCUSDShort
by DrDovetail
2
#bitcoin - Hitting 1st potential lowAfter Bitcoin finally decided to go for the green scenario and broke down, it is just now hitting the first bigger support. It´s a combination of the Monthly Pivot & a Channel-Support, also Bitcoin is quite oversold. Watch the levels, shorters might want to think about securing their positions nicely, two ways to go from here and don´t forget not letting winning trades run is as bad as not taking profits, when there is a good spot to do so. In case it goes further you will maybe miss a couple of % and think "I knew it", you know yourself that's subjective and not appropriate. Targets & Supports remain the same. __________________________ Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
4
#ethereum - 3D is showing weakness due to BTC´s strugglesCurrently, ETHUSD is holding above this very important support-line but seems to struggle to bounce off it. Looking at bitcoin and it´s potential to go lower, trader´s who are long on Ethereum should start reconsidering their position in case they were not able to set tight stop losses. Also, the Ichimoku-Cloud is about to turn, on 3D this would not be from advantage for Ethereum´s mid-term development. Lows in the 160´s$ remain a possibility. Targets & Supports stay the same. _________________________ Warm regards, Neru
BITMEX:ETHUSD.P
by Gl4diator
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