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Channeltrend

Did someone say Pitchfork? Just an idea showing PF channels Was playing around on the BTC charts and projected Pitchforks from the Early 2015, 2016 and 2017. Honestly the still seems to be playing a major role. Overall Long-Term Outlook: First off testing the ~11.8k resistance line. (unless it breaks into the upper channels) Finding support around the ~6.5k support line, which correlates to the 2016 and 2017 Pitchforks. (could break lower to the ~3.5k support,but not likely IMO). From there returning to the ~9.8k- 11.5k Retest/ break current channel: (~17.3K July 2020 If the channel is broken upward. (Bounce or break up into new channels after 17K target is reached)) (If the ~12k Resistance level isnt broken here we are going into the biggest bearish recession BTC has ever seen.) (If it plays out as displayed above BTC will find life again ~4k mark around November 2022) NOT AN EXPERT DISCLAIMER. Honestly the biggest factor in the playbook has and always will be Global Adoption. The crypto community will continue to be held back by governments laws and regulation, until final word is spoken on the matter, in turn governments have only been integrating into the Crypto space for ~3 years which span over investigations in multiple different assets on top of multiple exchange bans. (Not to say following government regulations is a bad thing, but it also makes you think of what is left to come, and how far we are from an equal medium) Will update if this turns out to be a functioning chart, as always DYOR and Good Luck.
BITFINEX:BTCUSDShort
by CapitulationCalls
US 30 Upside Explosion; Possible Ultimate ATH: 30K?Just an idea. Not sayin' this is goin' down; maybe we already saw ATH today on 7/15. But, maybe a brief pullback to lower channel TL culminating on 7/23 will provoke a feeding frenzy coupled with FOMC rate cut to push the darn thing to 30K. Could easily rise another 6-8% in euphoria and carefree complacency that prevails atm. If this plays out the subsequent selloff will be spectacular- at least 10k pips. Probably gonna see a day when it tanks off 2k in one session later this year or early next. FGS trade carefully or just stay out and marvel at the insanity! I marked this idea as 'long' but I'm not betting on it just yet. See if we get a sell to entry for the fifth of fifth of fifth of... whatever wave this is now. GLTA!
DJ:DJILong
by DaddySawbucks
2
Crude 2019 Channel PlayEver since the beginning of 2019, Crude Oil has been trading in a very consistent upward channel. At the moment, we are currently at the upper bounds of the channel, and crude is due for a drop to the bottom of the channel. Looking at this channel, as well as historical zones of support and resistance a good entry would be in the range of 60.50-60.80 with a price target of 57-58, depending on how fast/slow it moves. Based on previous price action in this channel, I expect the move to take anywhere from 5 to 14 days to play out fully. Longer term, at the time of writing this, crude fundamentals seem strong, and I expect it to remain this way. For this reason, I don't foresee the channel to break to the downside, but it is a small possibility. More likely that bulls continue the upward trend after this slight pullback.
NYMEX:CL1!Short
by HBtrader22