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XRPBTC has potential for a goldencross if it triggers the invh&sWaiting for confirmation of a breakout from this inv h&s before attempting any sort of long here...the possibility of a fakeout right in his neckline zone is still very good as well so its best to await clear confirmation one way or the other. If it does trigger a bullish breakout of this pattern however it's very likely that we would see a golden cross on the xrpbtc chart not too long afterwards...whether or not that golden cross would be sustained or a fakeout we would have to wait and see. At the moment though the xrpbtc chart has a lot of bullish potential.
by DrDovetail
EURJPY (CROSS) Likely To Decline Further Towards 114.00 Level!The main chart represents the weekly TF of EURJPY pair currently seen trapped in a well respected descending channel. The horizontal lines represent support and resistance levels taken from the monthly charts. A few weeks ago the 120.00 level was clearly breached and the price has continued to slide towards the next support (114.00). A close of Monthly candle below 120.00 would increase the confluence for a further fall. Its advisable to wait until the beginning of the next monthly candle so as to enter this trade with RR set at 1:1 and target at 114.00. Currently i am already shorting the EURO against the FRANC. These two pairs are highly correlated because the EURO is paired with both SAFEHAVEN currencies. Therefore to prevent double risk exposure, i would personally Not take this trade. However for those of you who are not shorting the EURO or LONG on the YEN, you can take this trade at your own risk. All in all, this is a very high probability setup and a quality one too.
Short
by FX618Analysis
Developments in BTC price -Test to 50 EMA, Cross of SMA-EMAHola Traders, I am happy to share with you my next idea about BTC price dynamics. While everybody is looking to potential rally to 14K and 16K levels we do not have to underestimate the gravity of the current situation. There are several major concerns that I have with the current upwards rally and which makes me think that even if we hit 13 and 14K levels sometime soon, we will give all these gains back rapidly unless some of the technical and environmental factors are met. So I'll be brief: Cause for concerns: 1. We have not tested 21 weekly EMA since February, and this is concerning because ever since the inception of BTC trading and drawing of the weekly EMA lines the 21EMA has served as a centre of gravity for the BTC price and overall trend. We are long overdue in this test and I will not feel comfortable with the upwards continuation unless this crucial reality check is performed. 2. Despite all the hype and media coverage of the BTC in the months of July and August /19 there has been no significant move in the trading volume of BTC, which means that players with small financial resources are driving the price which presents risk for small scale retail investors since they can liquidate their positions fast and will not face significant resistance in the process of doing so. 3. Google Trends data shows that we are still at 15 on 5-year scale and have not made new highs, in fact, we are still 1 point lower than the modest result of July 14Th/19 standing at 16 points. This drives me to a sad realization that there are not many retail investors currently coming in the BTC trading/investing space and most likely it will take a little bit of time and development of international economic events to create incentives for new retail investors to come in. 4. We have not tested 50 EMA on 4Hour following the golden cross. Like the weekly 21 EMA, this moving average has a massive gravitational pull and an even bigger push for the upwards moving price trajectory in the upwards trending markets. I am not saying that we have to test it 100% but if we dont then we have to have other technical drivers in place that might have equal or a greater push potential as 4H 50EMA. 5. Futures Gap at 8500 level - This is BS theory BTW and holds no water. But if it enough people believe in it, it becomes a RELIGION and most likely will drive the sentiment to complete the self-fulfilling prophecy. All these said, BTC has several massively bullish events in line that in shorrt term might overrule all the concerns and worries that I have listed above and might buy some tome-like 3-5 weeks for mentioned moving averages to trail higher and gain roughly 800 to 1500 $ points from their current position. Bullish indicators: 1. 200 EMA and SMA cross is coming on 4 hours and most likely will complete in the next 12 to 18 Hours. The fact that we are trading far away from the cross makes me think that the price action could potentially already account for the event (expected boost has already taken place), however I will not be surprised if this event will create additional 3-5% upwards push of the price in the immediate term as well as during the week-end. 2. Traditionally, the time before the 200 EMA and SMA cross has been accompanied with the test of 50 SMA on 4H, which presents a nice buying opportunity before the cross. We might breach 50 SMA, but I believe that pullback will be just as swift as well. 3. Monthly RSI exiting the bearing control zone. Weekly RSI moving comfortably over 50 mark line. Daily, 2 Day and 3 day RSIs all indicate bullish momentum. Summary, in the immediate term, look at 50 SMA on 4H and identify good buying opportunities for upcoming 4H 200 EMA-SMA cross. Enjoy your gains while they last and look out for massive pullback during the week-end because the cross has incredibly high gravitational pull and will close most of the gains before the early parts of the next week. As soon as the market starts going sideways on the lower timeframes exit and secure your positions. Do not short - We are still in the general uptrend and shorting is associated with higher risk and lower reward in this situation. Stay safe and have a great gains owe the week-end. Cheers Archie, the CryotoToad!
BITFINEX:BTCUSDLong
by akublashvili
3
Golden Cross on XRPUSD now 1 day away! Exciting to see that it seems inevitable we will see the golden cross on xrpusd come wednesday. A small retracement on tuesdays candle is not a bad thing as it brings price action closer to the golden cross for the time it occurrs which usually tends to give it better odds of being a sustained golden cross. We might not see price action respond immediately but it will very very likely respond a day or few after and probability is favoring the cross to not get uncrossed and be sustained as well. Smart to be prepared in case of a fakeout but one is very unlikely to occur. next xrp temporary bull target is 47 cents.
BITFINEX:XRPUSDLong
by DrDovetail
2
BTC - Does history repeat itself or only rhyme?Either way it's going to be great! We got a weekly close significantly over the $7,300 to $7,600 mark I was looking for. This keeps the price over the multi-year trend (top line of white channel). As you can see in the yellow circles the last time this happened the price continued to climb for weeks to follow. Also the 20 and 40 week moving averages are closer to crossing. Another BIG plus. All-in-all the weekly chart speaks for itself. This all looks bullish to me. Not the gloom and doom FUD I keep seeing. Will the price continue to dramatically rise and fall? Sure, you can count on it. But the overall trend is bullish IMO and will remain so for quite some time. Good luck!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
12
Why BTC could hit 9.6-10k before a correctionBTCUSD continues to climb and plenty of weak hands have been taking profits prematurely and missing out when it continues to pump. They fail to see how we could raise 78% from the point of our golden cross before any serious correction which is around 9.6k. That's because they aren't looking at the fact that btcusd did exactly that at the beginning of the previous bull market, or that litecoin did just hat just a little over a month ago after its golden cross. In both scenarios it rose 78% without correcting and then once the correction hit they dipped 31 and 41 percent. If we were to dip 31 percent off this bull run after reaching 9.6k it would put us around the dreaded 6,666 number crypto loves to gravitate towards. Now that longs on btc are finally starting to slightly outnumber the amount of shorts it tells us a correction is definitely on the not so distant horizon and to remain vigilant.
BITSTAMP:BTCUSDLong
by DrDovetail
BTC - Coinbase Weekly GlanceHere is a look at the weekly Bitcoin chart on Coinbase. I have taken a SWAG at extending the 20 and 40 week moving averages to see where they might cross. I also added the RSI to see about where the bull/bear delineation might be. I don't dispute the fact that the price is going to move around these averages, but I still maintain that we have made the first step towards the next bull run. $4,100 is about the lowest possible low IMO that would still respect the weekly averages and the bottom break out. Are we going there? Nobody knows and I certainly can't say, but I do believe strongly that our range is between there and where we are today. About a $1K range guessing game. Am I going to sell at $5K in hopes of catching $4K? Nope, because we could just as easily wake up one morning and have jumped from $5K to $6K. Trying to squeeze that last little bit of speculative profit out of Bitcoin right now is just now worth it to me. I'll continue to sit tight on my long position and wait....
COINBASE:BTCUSDLong
by BitcoinBearSlayer
EURJPY (CROSS) Awaits Channel Or Trendline Breakout On Weekly TFThe CROSS (EURJPY) is currently confined in a descending channel on weekly timeframe that has been respected on numerous occasions and there also happens to be an ascending trendline that seems to be holding this pair. Have a look at the main chart of weekly timeframe to observe these two scenarios! Now thats the technical picture which is suggesting the price could breakout anywhere be it upwards by breaking the channel or downwards by breaking the trendline. The fundamental picture is a tricky one to predict where this pair might trend but odds are slightly with the break to the downside, as the slowdown in EUROPE continues and the SAFEHAVEN yen demand will be there against the EUR! So to trade this pair, its advisable to wait for the weekly candle to convincingly close outside the descending channel or beneath the trendline to confirm a breakout. The red line drawn on the main chart represent the nearby target levels if the price breakouts from either side! This is just the current outlook on this pair and shall the trade criteria meet i will post the details in a new post. Hope you find this analysis useful, if you do please leave a LIKE and FOLLOW me if you want more future SWING trade analysis and alerts. cheers
by FX618Analysis
can weekly 50MA flip to support? Crucial to avoid a correction.must keep a very close eye on this weekly 50ma we are now above...it can easily still get rejected and even though we are above it at the moment until we sustain it as solidified support it has great potential to ultimately reject priceaction and send us back down for what will likely be higher low...how far down that will be is hard to say but it can drop quite a bit and sill become a higher low after all the bullish priceaction we've had the past couple months. Be cautious and wait until you see the 50 week solidify as consistent support before putting the bull blinders on. Either way we can tell the bull market is very near.
BITSTAMP:BTCUSD
by DrDovetail
Golden cross is very near! Good sign for BTC overall!Hello crypto traders and hodlers, i have a great info for each of you :) The golden cross is really near and this means we turning the trend longterm in the bullish direction! This doesn´t mean that the price would never go more down, it´s more than likely that we generate a double bottom (near 3.100, +/- 500 USD). So if you want to go for the longterm hold like me, the next few weeks, maybe 1-2 month could be the very last chance to buy cheap bitcoin. No financial advise! Hope you doing well so far, it was a long way to the downside, many of you would lost some hope, but i think there is a so bright future in front of us :) If you want to see my longterm prediction, visit my other charts. Greetings and wish you all good luck!
BITFINEX:BTCUSDLong
by Crypto-Coin-Trader
7
Are you seriously scared by this BITCOIN move?What a great and complicated chart to make some analysis on. Let's start. First of all: nothing to worry, yet. We made 10 consecutive days with a single retracement, starting around 4100$ up to 5400$. A correction here is not only healthy, it's necessary! As you can see from the chart, we were following a well structured channel, and today we clearly broke it, with decision. This channel will probably act as resistance in the following periods. This dump was necessary, as the RSI was definetly too high in the daily (still above 70!): it's better to correct now 10% than 30% at $6000. After this, we should consider the future: what will happen now? There are two possible solutions. I'm more for the bullish one. The bullish solution is that BTC will find support in the 5000$ area (S1) and continue this uptrend in the following days. This would be great as in 14 days we will see the GOLDEN CROSS, which could make the new bull market start. The other hypotesis is that this 5000$ support won't hold, and we will be back at 4700$. At 4700$ we won't have the Golden cross, and the market will decrease this bullish sentment.. From the pure technical side, you can spot that RSI has finally arrived in the oversold territory in H1 for the first time since the big pump. This could be a good buyin, if you consider the long trend as bullish.. We'll update this analysis during the next couple of days. What do you think? Let us know in the comments!
BITFINEX:BTCUSDLong
by BFCMInvest
2