Get started

Bulkowski

BTC shorts losing momentum? Strong case for BTC bulls?The BTCUSDSHORTS chart historically has been a good tool to look at Bitcoin's overall health in the cryptomarket. When BTC acts bearishly, BTCUSDSHORTS shorts go up. The inverse is also true - when BTC acts bullishly, BTCUSDSHORTS go down. Naturally shorts skyrocketed at the end of the great FOMO, with positive momentum lasting until April. However when BTC regained its positive momentum in early April, shorts fell again and bottomed out in May when BTC began another dump that lasted well into June (rounding teal line). What's interesting is mid-late June, shorts began forming a broadening top pattern - lower lows but higher highs - a case of indecision. Shorts fell out of this cone-like pattern, using its bottom trend line as resistance (A) before falling to complete its short-term measured move, the upper red line. It then had a false breakout, rising back into the broadening top (B), with price action coinciding inversely to BTC's second bottom @ 5782: However the false breakout was short-lived, shorts dipped again on BTC's June 29th pump to the upside (C). What we have now it seems is a descending wedge, with two touch points on the top trend line as resistance, and three touch points on the bottom trend line as support on the daily BTCUSDSHORTS chart. I have the 4hr chart shown here for the sake of more candlestick patterns. This pattern coincides with the overall measured move of the broadening top pattern, which is down at the bottom red line (D), also coinciding with the area where shorts rounded out in mid-May. The daily shorts chart also shows bearish continuance on the RSI: If BTCUSDSHORTS continues to act bearishly, hitting the measured move of the broadening top pattern while staying within the parameters of the descending wedge, BTC will continue to act the inverse, bullishly, no matter the small dips it may take along the way.
BITFINEX:BTCUSDSHORTS
by remlog
2
XRP fizzles out of uptrendA few days ago I wrote about XRP forming a very nice sharp downward sloping bull flag , indicating seller exhaustion and a potential nice break to the upside to the 55 cent area. XRP did wind up breaking out, and on even greater volume than the previous two pumps. Unfortunately, BTC hit a wall that day, creating uncertainty in the general market, and soon after XRP ran out of buyers and it completely fizzled out of its uptrend that had began on the 29th of June. This is confluent with the rising wedge reversal pattern XRP was also forming (teal triangle). It has since bounced off the 618 fib, settling around the 50 fib retracement area. However the measured move from the rising wedge is down around the 44 cent area, below all areas of common fib retracements, indicating potential bearish territory once again. With MACD and RSI oscillators showing strong bearish continuance, it would not be surprising if Ripple plays out this way.
by remlog
2
Playing the gap with pharmaceuticals, Lipocine Inc (LPCN)Pharmaceuticals can take nasty falls if their products fail to pass FDA muster. These falls can provide nice opportunities for swing traders to play the gaps that are left by these sharp moves of price action. Lipocine Inc (LPCN) took a nasty dive on the 8th of May, leaving behind a pretty nice 31% gap that will eventually get filled. Since the drop, LPCN has formed a textbook ascending wedge in it's current longer term bearish downtrend, signaling higher prices in the short term. If this wedge continues to hold through it's formation, the gap will be filled where the top of the wedge and the top of the gap intersect (A). Because the ascending wedge is a bearish continuation in an overall downtrend, the price will eventually fall back down (B). However it is also a good possibility that LPCN will fall out of it's wedge before it even fills the gap completely, as price action on average tends to break out ~60% of the way into the wedge, which is well before the gap fill (A).
NASDAQ:LPCN
by remlog
BTC wedging up, about to retrace back into symmetrical triangle?It looks like BTC is wedging up (teal triangle) after it broke out of the symmetrical triangle. Rising wedges are trend reversals, and are more valid in uptrends. BTC looks to have also double topped (1,2) which is also signaling a reversal. We are also seeing positive momentum drying up on the MACD and RSI oscillators: Buyers are getting exhausted, and after a decent 17% rise in ~5 days after a 2 month long dump, this isn't surprising. Short term retracements are healthy if we want to see BTC continue up in the long term. If BTC breaks down, the measured move would be around 6100. It also may never reach 6.1k, it is quite possible it will test the .50 fib common retracement level at 6285 and then swing back up.
Long
by remlog
BTC symmetrical triangle breakout confirmedYesterday I wrote two possible scenarios of what may happen to BTC, the 2nd scenario played out. We witnessed a really nice clean hook and go off BTC. It tweezer bottomed twice on the top of the symmetrical triangle, utilizing that area as strong support, failing to even dip below to use that level as resistance, and it broke out nicely on even greater volume than the June 29th pump. This is good news for the bulls. Measured move is now 7000 area of the bull flag.
Long
by remlog
Trying to understand the messiness of BTC - the symm triangleBTC is consolidating healthily after a ~10% pump two days ago. At that time I also wrote about a false breakout of the rising wedge, and the probability of a symmetrical triangle being formed instead (teal triangle). I believe ever more strongly this is the case. The rising wedge had failed to make it's measured move of 5600, stopping short and double bottoming at around 5800 (giant letter A) followed by a nice strong swing back into a nice bull pole bull flag (giant letter B). Although the top of the pole seems to have put BTC back into that rising wedge, it has since trickled out of it (1) only to tweezer bottom nicely on top of the symmetrical triangle (2) and wicking off the .382 fib. I believe now that the top of the symmetrical triangle (thick green line) will be used as support and resistance. There are two likely scenarios that will happen in my opinion. 1. We will witness a dead cat bounce, where the bull pole bull flag was a false breakout of the symmetrical triangle. In order for this to be true, price action would have to break down sharply through that support level of symmetrical triangle (thick green line) and test the .50 fib or .618 fib (3). This scenario would not be very surprising as those are pretty common retracement areas after a big swing up, and BTC can still be bullish at this level. However if it fails to hold those levels then we are at the bottom of the symmetrical triangle and would lend more credence to the bears (arrow line down). 2. We will witness a nice hook and go off of the symmetrical triangle. BTC will continue to use the top of the symmetrical triangle as support and resistance, and eventually break out bullishly (squiggly arrow line up) out of the bull flag (4) with a measured move at the 7000 area.
Long
by remlog
VeChain teasing with a small break outAs with many altcoins, VeChain looks to have broken out of it's huge falling wedge, but not by much and on low volume. It is currently flirting with the top of the wedge and using that line as support. A bull flag pennant has formed on the 1hr indicating that price action is currently neutral. A break out can go either way. If it breaks down negatively, the measured move would be 2.19, placing the coin back into its falling wedge, falsifying it's breakout. If it breaks bullishly, the measured move would be 2.99 area. This break to the upside would also complete a nice hook and go, thus solidifying its larger breakout of the falling wedge and a nice measured move of 46.55% at 3.87. Good luck VeChain.
V
by remlog
3
BTC retracing healthily, look for a hook and goBTC is currently retracing from yesterday's pump. Ideally we want to see it retrace to either the bottom of the previous rising wedge or hook off and go from the top of the symmetrical triangle it broke out of (both areas marked in green). A visit back to the 382 would also be a healthy retracement area. However if BTC retraces further, we will have had a false breakout and be well back in the symmetrical triangle, which makes things more murky for us humans as all of the bots around the world that are mostly responsible for trading btc right now would automatically readjust their calculations negatively again. Wait and see how this plays out and don't FOMO or FUD. Good luck.
Long
by remlog
BTC symmetrical triangle confirmedBTC has broken north out of its symmetrical triangle, further confirming my idea that a short bull run has been cooking up, and now perhaps begun. Yesterday it fell out of its rising wedge, but when it double bottomed, it popped up right back into the wedge and formed a beautiful textbook symmetrical triangle. This makes sense with BTC now showing quintuple bullish divergence on MACD oscillators. The symmetrical triangle tells us now, at least in the short term, BTC is no longer bearish in nature; it is now neutral. But with the quintuple bullish divergence on the MACD daily and bullish divergence on the RSI daily, BTC really makes a strong case that it is headed into a bull run. 6800 is now the measured move of the double bottom and will be tested as resistance. If it breaks and hooks off, 6800 will be the new support level and 7000s will be on the horizon.
Long
by remlog
BTC falls out of wedge, double bottoms into symm triangle?BTC fell out of its rising wedge but failed to make the measured move around the 5600 area, disrespecting the inherent nature of the pattern. Although it looks to be back in the same wedge, I believe it is now more probable to be in a symmetrical triangle. With quintuple MACD bullish divergence now showing on the negative oscillators on the daily, and with prices at the current bottom of a long descending wedge that has formed since the great sell off, it would make sense that we would be beginning to see more neutral geometrical shapes rather than rising wedge after rising wedge after rising wedge. Is this where we begin to see a bullish reversal? Thoughts?
Long
by remlog
ETC Ethereum Classic Manipulated by WHALES WARNINGWhales are setting big Low Buy Walls and keep pulling down Panic sellers who create their own doom by creating Sell limits close to the price in turn creating clogs and sell walls that wont let the price move up. If only if Sellers knew the best thing to do is create High Sell Limits. Example: the price is dropping to 333000, then set the damn Set limit to 360000. Everybody doing it at the same time to should nullify the magnetic pull down aka Panic.. Anyway the overall trend is down after a Bulkowski Flat Elliot Wave 335. Google it. THIS IS WHAT YOU DO NEXT TIME WHALES WANT YOUR PESOS FOR THE CHEAP..... EVERYBODY MUST DO IT!!!! OR JUST GIVE THEM YOUR MONEY AND LEAVE!
by cryptobiting
9
Apple Inc. time for short sell?? Look at the chartTop companies like Facebook amazon Tesla Google etc. experienced very strong bullish movement for the last 10+ years. I think that this rare candle stick pattern on weekly chart is suggesting bearish movement. Two Black Gapping which according to the Bulkowski’s book it has probability of 68% that the market will follow the signal. When You will look at the chart it is very visible that the market has problems to go above this huge GAP. ON monthly chart we see very nice Bearish Engulfing pattern I see here good opportunity for short sell with probability of strong bearish move in the medium term. I think 100 is reasonable TP area.
NASDAQ:AAPLShort
by Krystiannwk
BIG W USOILI understand algorithmic math. I understand it and can calculate it. I SUCK AT MATH. YOU HAVE BEEN WARNED. DO YOU OWN CALCS. That being said, you can rely on Bulkowski's tested probabilities for a Big W Pattern which suggests a 0.42% chance of a breakout. Projected target based upon Bulkowski calculations would be approximately $56.00. Rumors suggest $60.00 that might be a possibility if breakout occurs. A short retrace may occur with a bounce back. Who knows. I'm not playing this, but looking for direction bias for USDCAD Good luck Big W
TVC:USOILLong
by dead2live
USDCAD Rounding BotomUSDCAD Bulkowski's Bottom Round Percentage Meeting Target Price - 57% Measure = 288 Pips 288(0.57) = 164.16 Price at Bottom = 1.2766 1.2766 + 164 = 1.2928 Target Price = 1.2928 Target Price is in confluence with Fib Zone Wait for completion of bump (struggling with moving avg, here) and continuation of bowl for buy confirmation. Begin entry = 1.2800 or greater (Mnth Support) Depends upon price action and completion of bump. Problem is moving averages at 1.2800 level. Bulkowski Rounding Bottom We shall see.
Long
by dead2live