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Bullishreversal

Bullish 3 Drive reversal pattern taking us further down?Caveat, I am not great at this but i love throwing numbers at the wall and hoping a bullseye appears behind them later. At least I admit that :) TLDR; 51 day periods in downward price movements, only 19 days into a 51 day period. Consolidation has happened at that 18 day point in each cycle so far. Price should bottom in about a month. My pick for bottom 5150-5185 but it could go lower without invalidating the pattern, but we are going to at least 5200. The absolute lowest before this pattern is invalid will be 4000-4100 Detail: So, i had seen taylor.renny post a chart showing the 51 days between each high and when price turned back up for the next move up. So I had a closer look and noticed that there was also a little pullback or consolidation at exactly the 18 day point of each 51 day period so far. This 51 day period that we are in now, if it is another 51 day period was day 18 yesterday (AU time) when the market rallied. I have also drawn out what is a very clean Bullish 3 Drive Pattern in harmonic pattern. The 51 day period finishes on September 13 but the end of the periods mark the confirmed reversal, not bottom. This pattern completes and bottoms a bit earlier, probably September 11 (ancient astronaut theorists.... say yes. conspiracy nuts can have this one) and bottom should be 5150-5185 (5183.5) (yeh why not go precise, if it hits it will be fun, if it doesn't, nothing new haha). I am struggling to find any concrete targets for the completion of such a pattern however .61 and .78 are what are suggested in the only reliable resource I found that referenced targets, the "Better know an Indicator" series by Youtube sensation IAmSatoshi . This gives us targets of 8726 and 9700. Probably around 4 and 6 weeks after bottom. That is if we follow roughly the same gradient in that price movement as we have done so far in this pattern, meaning around the 13th and 25th of October. The alternative that sees us go to 4000-4100 is not as neatly measured and not as "harmonic""
BITFINEX:BTCUSD
by gummybadger
BTC: One Falling Wedge Already Broken to the UpsideBTC has already broken up out of one falling wedge and is looking to test the top of the bigger one everyone has been posting about. Price found support on a 10-month-old trendline going back to July 2017, and after breaking up out of the first wedge came back to test the top of it before heading higher. The MACD on multiple timeframes is crossing up and the RSI on higher timeframes is showing bullish divergence. This coupled with the fact that dumps have been getting shorter and shorter points to a potential bullish reversal soon.
BITFINEX:BTCUSDLong
by serekamina
Bullish Divergence on 4H BTC ChartHello my fellow traders, as it looks like it might just break out at any moment let's jump right into this idea. Up top is the 4H BITMEX BXBT chart where we are clearly seeing lower lows (in green) yet the RSI, Stoch and MACD are making higher lows (in green) indicating potential bullish divergence. This pattern is to be traded upon successful close above the yellow dotted line which would be the resistance level. *For educational purposes only. NOT financial advice.*
BITMEX:BXBTLong
by stackit
1
[LTC-USD]DIPS-BULLISH REVERSAL IMMINENTLTC may be dipping down slightly more, attempting to finish its final correction leg at C. Then starting a new Elliot wave cycle. Bouncing back up between the 38.20 and 61.80 Fib Retracement level at 1. It continues to struggle to break the $155 price mark, and hopefully on this 2nd wave it will push through that, making its way to $160 as predicted! 24 hr volume is $347,774,000 USD ...Overall since April 11th, for about 10 days, the OBV- On Balance Volume shows increasing buying volume. Taking a halt on April 21st, then leveling out for about 10 days or so as well. We need to see the OBV rise steadily again. LTC is staying 14 dollars above the 200 MA level. Decisively, in between the 50-100 MA seems to be the middle ground consolidation range for the next few days on LTC. If it breaks down and thru the heavy support of $141, then it will spell struggling trouble for LTC. Watch BTC since LTC does not run independently on its own! Special Note: A falling wedge as you see on this TA indicates a Bullish Reversal Overall. I believe the price of LTC will bounce back up. PS: This is not financial advice and only for education purposes. Perform your own TA! If you learned even one thing, then like my TA and follow me to support my channel. Thanks CryptoBuzzAnalyst
BITFINEX:LTCUSDLong
by CryptoBuzzAnalyst
6
BTCUSD: Outside Bar Offers Hint Of Bullish Reversal To 15K?BTCUSD update: Outside bar like candle forms within the 10988 to 8656 support zone, and more specifically bounces off the 9683 lower boundary of the reversal zone. Just like in the other markets, this is a place to be looking for longs for swing and position trades. Funny how people criticize and ridicule TA, meanwhile levels that I have projected weeks ago are providing very reliable reference points. The 10988 to 8656 support zone is the .618 area relevant to the recent bullish structure. It is a high probability area for bullish reversals and now that price has retested it, the herd is reacting as anticipated (what happened to 30K?). The outside bar that is in place at the moment is a good start. It means that there is some evidence of buyers in this area. The other notable level is the 9683 boundary of the reversal zone measured from the 10700 previous low. This zone between 10700 and 9683 presents and area where IF a bullish reversal is going to happen, this would be the area with the most probability. This zone is one that I like to refer to as the "fake out" zone and works the same way at peaks. It is based on the same concept as the false break out. The majority of participants get out or get short and there is no one left to keep the momentum going. There is no guarantee that price will reverse back up dramatically from here, but it is an area to evaluate risk from and consider longs for both swing and position trades. A swing trade time horizon can be from days to weeks while a position trade can be from weeks to months. The particular level is attractive for both because of the larger magnitude of the correction which translates into a broader move higher ones price can prove stability. I will be looking for stability in the form of chart formations that will take some time to unfold. The bullish outside bar is only a preliminary sign and price can still retest the 9683 low or slightly lower before reversing. Any failed low or smaller magnitude higher low would be a good sign for longs within this area. The first resistance break to also watch for is the old support/new resistance now at the 11700 level which price is clearly reacting to at the moment. A break back above would signal bullish momentum is back. As far as my trades, I have a position trade long from 13150 that I entered weeks ago and have no intention of selling. I am also looking to add more to that position around these levels and to add a swing trade as well when a clear structure unfolds that I can measure risk from. In terms of reasonable targets, the 14211 to 15252 resistance zone is the reference point that I am using at the moment. In summary, for now BTC is still the main currency in this space and until it no longer has merit, buying supports in the midst of broader corrections is still a good idea in my opinion. Also as much as people keep hyping or dramatizing lower prices, this market is not in a broader bearish trend. We are just within a normal correction of a larger magnitude which shakes out the less experienced because they are too focused on the noise, hype and drama. This is nothing unusual and is necessary for a healthy market to continue. Any retest of lower prices, and I will be looking to add to longs. Also it doesn't hurt to start small positions in an area like this as well without the use of margin. In these markets, anything can happen, no matter what a chart looks like, but most of the time general probabilities of levels and price structure offer adequate guidelines for managing risk and taking positions more in line with market intentions and this is one of the reasons why TA is so valuable. Questions ans comments welcome.
BITFINEX:BTCUSD
by MarcPMarkets
58
BTCUSD: Momentum Reversal In Play.BTCUSD update: Within the triple bottom formation that is now established in this market, there is a particular sequence of price action that often leads to a momentum reversal. The confirmation of this infrequent pattern is a retest and higher low of the 12350 support area. Price has broken the 13500 resistance level and if it continues at this rate, will most likely close above. My limit order that I placed yesterday at 13150 (Coinbase) was filled quickly and is now in my favor (this is a long term trade as explained in my previous report. No stops, no targets, no margin). Even though price action is slightly bullish at the moment, it is still not out of the clear. Is this the beginning of the next leg up? The 13520 level is the .382 of the recent bearish structure. Often, when this level is taken out, it signals a change in momentum which in this case is bullish. The confirmation comes in the form of a higher low formation which would be most attractive around the 12483 to 12139 minor support zone which is the .618 area relevant to this current bullish swing. If price chooses to retest the minor support, this would be an attractive area to add to long term positions, or initiate new ones. Since this level would also confirm a short term pattern reversal, it will serve as an attractive area for a swing trade long as well. Risk can be defined by 11600 low, or the low of the current structure at the time of the retest. What about lower prices? Like I always write: anything is possible because things change fast in these markets. IF for whatever reason, price falls through 12139 and retests 11600, it would then be much more likely to revisit the 10700 or lower. IF the market decides to retest these levels, 9683 would not be unreasonable since it is the lower boundary of the reversal zone (projection measured from 10700 low). What makes that bearish scenario less likely is the price action that is occurring now. The next retrace, whether it is shallow (way above 12483) or into the minor support will provide a much clearer view of what the market's intentions are. What is unfolding now is certainly bullish, but that does not mean the market will return to the vertical exaggeration that we saw 2 weeks ago. A change in momentum along with supportive structure can take this market back up to the 16350 to 17876 resistance area which is the short term target for any swing trades established near or below current levels. In summary, there are NOW signs in place that short term price momentum is shifting back to bullish. As you can see, it took a couple of days, not hours or minutes. This is what carries weight on a short term trading basis and why so much patience is required. The next retrace will more than likely offer entry opportunities that will have clearly defined risk. IF the price action makes sense I will not only add to my position trade, but also put on a swing trade with a short term target. The key is to watch for reversal patterns near or within the minor support zone. Taking a position sooner is up to your trading plan and risk tolerance, because it is still possible for price to attempt a retest of the lows, just a lower probability at this point. Either way stay flexible and listen to the market, not your own feelings or opinions. Comments and questions welcome. Also I would like to wish the Tradingview community a Happy, Healthy and Prosperous New Year! Thank you all for your support and encouragement. Let's learn from our mistakes and hit the ground running, and start the new year strong.
BITFINEX:BTCUSD
by MarcPMarkets
37
QTUM/BTC falling wedge - Long term investmentQTUM/BTC has broken up a falling wedge in a downtrend (bullish reversal pattern) in the daily chart. This pattern has been built since mid-August. The MACD has hit a triple bottom and now looks ready to turn bullish again. BTC/USD also is currently building a rising wedge in an uptrend (bearish reversal pattern), which can indicate that the price of BTC will correct a little. This will also help QTUM/BTC to rise. We have recently seen many alt-coins go up into impressive run ups (ADA, IOTA, XRP, ETH, LTC, and so on). People are psychologically being attracted to strong moves in prices, and QTUM could be the next on the list. The price is currently testing the 23.6% Fib. retracement measured from the high August 11 (I didn't choose the ATH on August 10 because I think the Fib. levels were not as relevant as the ones I used). Price is also currently building flags in the smaller time frames (1h and lower), which are bullish continuation patterns. I think an entry point for this market would be now. My targets are the 61.8% and 78.6% Fib. retracements, respectively at 0.0034 (around +100%) and 0.0040 BTC (around +135%). The trade would be considered a failure if price were to re-enter the wedge. This is not financial advice, this is just my opinion. Any comment is appreciated.
Long
by Andratos95
1
Short-Term Upside For Retail?The SPDR fund tracking S&P Retail has been trending up for years. Lately the industry and fund have been on some rocky footing. Currently the fund is at a potential key support level with value to the upside. The projected future movements are highlighted below based on technical indicators. When we take a look at other technical indicators, the relative strength index (RSI) is at 36.0704. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The RSI has established two upward trending levels of support. Currently the RSI just bounced off of one of these lines. The last three times this occurred since this RSI support trend began resulted in quick gains of 5.36%, 7.83%, and 9.60%. This is the first indicator this fund could turn bullish. The true strength index (TSI) is currently 4.0070. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The TSI has also been trending up since the beginning of 2016. Although the current TSI level is not near this supporting trendline, the delay in the indicator could be the reason. It is important to note the TSI has come down from its most recent peak and its current position normally occurs as the fund is sliding downward. This indicator may be telling us the downward movement may continue for a little bit longer before the fund progresses upward. The positive vortex indicator (VI) is at 0.6967 and the negative is at 1.1494. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. Even though both indicators are unfavorable to bullish movement, they have both begun to reverse course. This reversal does require more movement to favor new bullish movement for the fund. If this movement occurs within the next 3 days, the fund should begin moving upward. The stochastic oscillator K value is 4.0425 and D value is 11.0491. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. This indicator is clearly in oversold territory. Previous oversold levels for this indicator during the fund's upward trend have always lead to a reversal. This is another strong indicator the fund will move upward. Considering the RSI, TSI, VI and stochastic levels, the overall direction favors a move to the upside, although definitive upward movement may take a few more days to develop. Based on historical movement compared to current levels and the current position, the fund could gain at least 4% over the next 27 trading days if not sooner.
AMEX:XRTLong
by StockSignaler
Short-Term Bullish Cross For VeriFoneOn April 20, 2017, VeriFone Systems ( PAY ) crossed above its 150 daily moving average (DMA). Historically this has occurred 49 times and the stock does not always move up. It has a median gain of 4.104% and maximum gain of 33.911% over the next 10 trading days. When we take a look at other technical indicators, the relative strength index (RSI) is at 43.0767. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is becoming neutral, but recently moved up and away from oversold territory. The true strength index (TSI) is currently -24.5922. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is moving down. The positive vortex indicator (VI) is at 0.6864 while the negative is at 1.2745. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock has been moving down. Its upward reversal is overdue and may actually have started. The stochastic oscillator K value is 25.3573 and D value is 13.3096. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the price action is trending up. When the D value is higher that the K value, price action is trending down. The current reading declares the stock is on the verge is moving up and out of oversold territory. Considering the moving average crossover, RSI, TSI, VI and stochastic levels, the overall direction appears to have just begun a reversal to the higher side. Based on historical movement compared to current levels and the current position in its trend channel, the stock could gain at least 1.24% over the next 6 trading days.
NYSE:PAY
by StockSignaler
#UNICREDIT - NEXT EUROPEAN BANK WITH A BREAKOUTUnicredit is the next European Bank to stage an impressive base breakout. EU Banks are at a turning point, outperforming, and have a lot of catch-up to do. Technicals look great. Unicredit appears to move into a vacuum and I see immediate upside into 2.75/.77 I'm a chart analyst, not a fundamental analyst, but here are a few thoughts what could drive EU Banks outperformance. Fundamentals continue to look awful, however there are a few tailwinds from: - bank CEO acknowledging structural weaknesses (DBK CEO y'day) - serious consolidation talks - FED rate hikes
MIL:UCGLong
by gorillacharts