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EURGBP update (harmonic bullish crab)Here we see EURGBP in a descending channel with the sellers in full control, forming lower highs and lower lows adding selling pressure to the market. Now we are trading in a small expanding descending channel, suggesting that the sellers are stepping out and potentially booking their profits. This gives room for a bullish scenario, and im speculating that the bulls are going to go for another rally up. Late in October I was speculating in a bullish harmonic crab pattern. Some people have their own idea of harmonic patterns. The software I use comes from Scott Carney himself at harmonictrader.com. Its the guy who discovered the patterns and has since then trademarked them. Almost 20 years have passed since he did so. heres the chart: Im expecting prices to break both channels and from here I am looking to see a shift in the trend direction. In order for that to be happen we need to see a break above the resistance at 62% abc projection. I've also noticed the divergences, which is telling us prices are dropping on rising momentum. This typically indicates the the buyers are stepping into the market, buying at discount prices. The abc projections shows key support at 1.27-1.38 extensions is holding and prices had a nice reaction to those areas. This tells me that the support is more likely to hold and drive prices up to where we initially want them to be. This is a trade I did on Monday. Usually a pullback is followed by these set-ups, but if not, its a strong sign that prices are going to continue rallying up. In this particular trade we did not see a significant pullback, which is telling me the probability of prices rising are greater. Thank you for reading the analysis Please dont forget to like the chart and make sure you put your comments in the section below. God bless and happy trading
Long
by MikulovicFOREX
btc pullbackbtc just held the upward sloping trend. i've already added to my position, awaiting a pullback to add more as long as the trend holds.these new shares i've entered will be sold if price cannot break through & hold the top red line. this will exhibit weakness & potential failure of this position, resulting in the upward sloping (green line) trend. a failure of this trend will produce a significant pullback in the BTC price. see my previous charts for how low BTC is likely to drop before going any higher (if the upward sloping (green line) trend fails..
COINBASE:BTCUSDLong
by BillionaireTomBoi
BTC/USD Pivot Bear or Bull?Hello Friends, Most of my TA can be seen on this chart. Just like to add that we are in a descending price channel that has a bear flag within this channel. What this tells me is that we are going to be bearish before we return to a bullish move (price channel). We may not reach the bear flag target but we will be testing supports on the way down imo. The first of which is the mid dotted trend line that intersects the last support line. Here I can see that this will be a deciding factor for where BTC will go. If support holds, then we can expect a test for upper resistance but if support fails, we could see a move as far down as the bear flag would have it. On a positive note , remember that descending price channels are bullish by nature. The depth of the channel could match a measured move up between 14.5k and 15k . Details on the Chart. This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework. Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment. If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you! CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype. Cheers!
COINBASE:BTCUSD
by keifer
2
BQX/BTC 3x+ P.P.Hello Friends I had trouble identifying any sort of pattern on this chart because of the spikes and whip saws. Previously I charted a failed Inverse head and shoulders pattern which had been of great disappointment but upon further investigation, I had noticed a pattern within the RSI. Looking at the relative strength index in conjunction with the daily candles I had noticed that after BQX had spiked an unusual high it would quickly reverse and slowly retrace to oversold conditions (one exception after the ATH of late). The time frames are 6 to 7 weeks for this correction and oversold conditions would stay oversold for about 3 weeks before BQX would make a climb upward towards its high. The time frame from its low point to its high point is about 5.5 weeks. This has been happening ever since we have entered into this price channel, (nearing 10 months) August 2018 to this current point in time. We have had 3 highs and 4 lows. The pattern is every second high is the highest high of the highs and what proceeds that is every second low is the lower low of the lows. The lowest lows seems to trigger the next higher high. The lower the low the higher the high will be. This fact can be seen on this chart. The last low/high was a low of 2530 to a high of 8728 sats. That is 344% return in profit "under perfect conditions". Now my point, we are currently at a lower low and won't remain here for much longer "according to the pattern". I believe that the time has come for BQX to make an about face and take a slow climb upward to a higher high. My thoughts can be seen on this chart. Details on the Chart. This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework. Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment. If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you! CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype. Cheers!
BLong
by keifer
4
MANA/BTC 300% to 600% P.P.Hello Friends, Here is another tricky chart that shows nothing but a continuous channel. All it does is stay within the confines of this channel rarely breaking above the upper channel or below the lower channel. There has been 4 incidences when we saw a spike pass through the upper channel, 3 of which did so in a dramatic fashion and quickly reversed back into the channel. Now we have seen something new on two occasions. The lower channel has been breached and for the first time MANA is oversold. What does all this mean? If we look underneath the lower channel, we can see several arched green arrows that spans a distance from one high to the next high. Notice how there is a pattern within the arches? The first high touched the upper channel, the next 2 highs were extreme spikes. That is 1,2,3 then the pattern repeats. 1 touches the upper channel, then the following 2 will breach the upper channel. If the pattern holds, then we are due for a spike "if it happens", we are at a 3 count within this crazy pattern idea. Now let's look at this chart in a realistic way. MANA has never been oversold just as it hasn't breached the lower channel, this tells me we can expect a powerful move upward because we are oversold and had a breach of the lower channel. The indicators for TDS is at a 9 (signal) and there has been a continuous buy signal coming from Bill Williams Fractal ever since MANA became oversold. Fractal says only to buy and not sell. TDS is past the 9 count and in limbo. We are at rock bottom and what goes down must come up at some point. I think we are at that point now. The other point is that this is a price channel and is on the bullish side of the tracks. The channel itself has not been able to maintain the predictable move up even though on 3 occasions, MANA has surpassed channel expectations. There is a possible chance this time around that when MANA moves to the measured expected move up "seen on this chart as channel target" that it will maintain this position as support in the near future. The biggest advocate is BTCs bull market of late, which has a great influence upon most ALT coins. Details on the Chart. This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework. Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment. If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you! CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype. Cheers!
Long
by keifer
4
ETH 4Hr Upper Trend Line Position | Channels & Flags | $300 Eth.Greetings. A committed learner here and I would appreciate comments. Upper trend line shows limited support at the top left start portion but sometimes despite the close proximity of the touches they still play out. We have a larger descending channel with an ascending channel moving within. This smaller ascending channel seen with purple trend lines formed after a significant impulse down, it could be argued to be a bearish type flag? Now price action is converging on a point of resistances seen within the green rectangle (trend & support) . If Ethereum can navigate this resistance then a $300 Ethereum 10.91% I feel is a possibility. Eth's gotta be worth $300 right..... As I write this an ETF ruling is due in around 9 days (30th Sept). Possible FOMO is kicking in now so this by far the most far reaching fundamental may be at play.
COINBASE:ETHUSD
by iDoji