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Bullish Butterfly

Gold - HTDWTC II - Shark Bite In DetailFOREXCOM:XAUUSD Monthly Analysis - Sell for this Week then Buy until next Month Potential Bullish Butterfly Advanced Pattern BC 0.382-1 XD 1.272 Potential Bullish Butterfly Advanced Pattern 1.272 Potential Bearish Shark Pattern AC 1.13-1.618 BD 0.886-1.13 Potential Bullish Deep Crab Pattern 1.618 (unconvincing x-b?) Impulse Wave (12345) Support and Resistance Levels Moving Averages Fibonnaci Retracement Levels Hope for the Best and prepare for the Worst This is an update from previous weekly chart analysis ~ The Money Journey Press the Likes and Follow button even if you don't want to.. that's just what is called "Thank You for all your Free Support" :)
FX:XAUUSD
by EchoLAB
Ethereum - CondemnationBITFINEX:ETHUSD Weekly Analysis - 1 Hour Time frame Potential Bullish Shark Pattern 0.886 Potential Bullish Butterfly Advanced Pattern 1.272 Expanded Flat Corrective Wave (ABC) Support and Resistance Levels Moving Averages Fibonnaci Retracement Levels Hope for the Best and prepare for the Worst This is an update from previous weekly chart analysis ~ The Money Journey Press the Likes and Follow button even if you don't want to.. that's just what is called "Thank You for all your Free Support" :)
BITFINEX:ETHUSDShort
by EchoLAB
ETHUSD - An illegitimate case for the Bearish ButterflyWe all know how well patterns play out in Crypto , but I digress, and we'll venture anyhow - there's just too much materializing with recent price action to not! Recently, a Cup and Handle formation has captivated my limited attention on the daily, as well as a case for a Bullish and Bearish Butterfly . With the Bullish Butterfly still in play (linked below, and still within the bounds of validation), I'd like to take a quick look at the Bearish Butterfly as well. The recent 3 Drive Stair Case Uptrend came cascading down -20% from the $170 level or so, and with it, some nice Fibonacci retracement levels for traders to pivot and position with. Price action is currently bound between 38.2% Resistance retracement , and the 50% Retracement Support . So far as my Cup and Handle Pattern interest goes, this range is keeping the Handle within validation ( linked below should it interest you ). Ironically, the Bearish Pattern here has the 78.6% as a most notable point of contention , and as far as BTCUSD is comparatively concerned, has served as a pivotal point of price swings/drops coming out of upswing triangle consolidations. Personally, I can see a stronger case for the Bullish Butterfly , but this Bearish Butterfly Pattern does line up nicely with the $83 to $103 uptrend line and the 78.6% Fib retracement (maybe a little too convenient). The top of the parallel uptrend channel here is relatively undefined since the stop at $170, and our previous touches are a modest 2, taking more of the shape of an ascending triangle pattern, and yet sitting in line with points C to D of the Bearish Butterfly , hinting at some upside breakout from the pattern. Conversely, our less than developed by 83/103 trend-line too, only has 2 touches, and sits at a lengthy 45+/- days. Will Points C of the Bearish Butterfly become the third? Bears first have to move past the 50% defense , past the 61.8% support where demand is standing by, and then on to an eager $116 range that could potentially set this rocket ablaze. Your thoughts, comments, and likes are most appreciated. Until then, Good Luck, Traders. May you find yourself on the profitable side of it!
BITFINEX:ETHUSDShort
by MrJEB
ETHUSD - HardFork 2017/19 TDI Comparison + Bullish ButterflyA quick look into a previous ETH Hard-fork on the TDI + Results. Previous Price action does not dictate present conditions , for obvious reasons, times are certainly different in this Bearish Market. There are, however, some similarities in the movements of price action around the rumors and news of the upgrade. In 2017, ETH saw similar Bullish move, followed by a move down, a move up, and then a move down again at the exact time of the upgrade. Presently, we have already seen a move up in December, a move down when the upgrade was delayed, a move up based on the news of upcoming upgrade, and a -20% move down prior to the expected upgrade date on Thursday. In 2017, ETH price action too saw a -20% or so move during the uncertainty around the upgrade. Will ETH continue to trade sideways after the upgrade like it did in 2017, or will this Bullish Butterfly play out. Price action is flirting with the middle band on TDI, and a break below here I think would certainly send price action down but it has not (broke below) yet - even with a good separation of the fast moving average (red) from the slow (green) (Bullish/Bearish) . Lotta folks in TA are Bullish for ETH based of this and that indicator. Personally I've been following the Butterfly since $103 price range with a qualifying and validating structure. There also hasn't been much Bullish pop from the recent move down like there was in the early December rally which I would think puts demand much lower than current price action support based on expectations/uncertainty of the upgrade. Good luck, Traders. May you find yourself on the profitable side of it. TDI Comparison - Previous ETH Hard Fork :
BITFINEX:ETHUSDShort
by MrJEB
ETHUSD - Bullish Butterfly + ABCD Correction in PlayLet's be real, get past the dump, and on to trading. Recent price action bounce hasn't retraced past the 23.6% range on the Fibonacci, and this minor uptrend line is being retested without success, looking more like resistance. If we flipped this around during an uptrend and the Bears couldn't push past the 23.5% retrace range, we would say the trend is strong. Same applies on the way down. High of the bounce is $145 and the low of the -20.70% drop is around $135 from the high of nearly $170. Looking a lot like a Bear Flag , and a Bull Trap for Buyers on the other side of the EMA 12, 20, 26 and into the $146-$150 price range. I've also mentioned a Bullish Butterfly that is still in play on the daily because I have been watching it since the $103 range - so far, it's been validating, which would put this move quite a bit lower eventually, along the C to D line. My assumption is that it won't follow all the way down the line (lots of variables in the way), but it's possible we revisit the $80 range before moving up sometime in Early to Mid April. Still lots of factors in play, including a talked about ascending triangle forming from the 80 and 103 levels with an upper area around the 165 range. We'll see how that plays out. Good luck, Traders. May you find yourself on the profitable side of it. ~ Harbachan See Previous Posts on Bullish Butterfly for validation questions :
BITFINEX:ETHUSDShort
by MrJEB
ETHUSD - Bullish Butterfly on Daily still in playIn a previous post, a Bullish Butterfly was developing on the ETH USD Daily Chart at around $103. That pattern still seems to be in play, which may give an indication that if short move down was coming to the recent Bullish Momentum, it would come relatively soon. The pattern would also indicate a much stronger move in the upcoming months of March and April. I will be watching to see if this pattern plays out and if the $160 and distant downtrend line will act enough resistance to put sellers in play. The pattern seems to qualify, so I will most certainly be interested to see a much stronger move past the distant trend line and points C of the Wing.
BITFINEX:ETHUSD
by MrJEB
ETHUSD - Bullish Double Curve, Similar Continuation?ETHUSD Bullish is looking similar to the last leg up. Will we see continuation as we have previously? ETHLONGS on BITFINEX are soaring, ETHSHORTS are dwindling. We also have declining volume again with sustainable Highs and Higher Lows. The flag looks legitimate coupled with the volume. This seems Bullish to me, but again I am eyeballing a Bullish Butterfly that would see some correction coming to price should it validate. Price action, as seen on BITFINEX will be bumping into a distant trend line, though these previous months have shown this is the time for trend changes. Previous Post on Bullish Butterfly : Previous Post on Distant Trend Lines from November until now .
COINBASE:ETHUSD
by MrJEB
ETHUSD - Bullish Butterfly + Bearish Three-DrivesIf Bulls blast through the Daily SMA 200 , this Bearish Three-Drives , and the Long Standing Descending Channel would dissolve from our charts as they would no longer be valid. If Point C on the Bullish Butterfly is also ignored, then ETH Bulls have had enough - the 100 and 200 SMA would be gained on the Daily. The 100 SMA could very well cross the 200 SMA with price action above it. One thing is for certain, there will be some fireworks in the next few days. If price action bounces off the 200 SMA and corrects back between Points A and B , it would keep ETH inside this Bullish Butterfly with an upside near $160 , but again the 200 SMA would still need to be cracked. At that point, a cross of the 100 and 200 SMA would likely be in place and momentum could be shifted. With that in tow, I think the Bullish Butterfly goes out the Window and this thing goes stellar for a bit. Bullish Three-Drive Pattern from 106 to 120's Spike. Good Luck, Traders. May you find yourself on the profitable side of it.
BITFINEX:ETHUSD
by MrJEB
ETHUSD - 15m Three-Drives, SMA 50, and 100. Some Recent 15m price action analysis with Bearish Three-Drives Pattern . I think the SMA 100 will come into play after the next leg up. The SMA 50 is also standing by on the Daily, noted on the recent Bullish action Sunday Evening with quick profit taking. Bulls will need a great deal of momentum here to break SMA 50, 100 , and the Downtrend Line in place from September. A correction may be on the horizon - keeping price action in a daily Bullish Butterfly that looks to have started developing around Dec. 15th 2018. Bullish Butterfly: Good Luck Traders!
COINBASE:ETHUSD
by MrJEB