LUNA major upside potential - Weekly ConsolidationLUNA holding the 200 day MA pretty nicely, consolidating on the weekly. Might I say it could see a new ATH this year, unless we have to revisit $22 first. Short to midterm bull, still bearish on the overall market and trend. Looking for that dead cat bounce rally.
Deadcat
BTC/USD ABC Correction in PlayLikely BTC/USD ABC correction in play.
Notice the confluence of extensions and key levels. If compared to the 4 hour downtrend line (in white), a bounce to 56k would still make a daily downtrend valid.
Meanwhile the recent bounce off of $47.1K could be a potential support but the more likely scenario is a bear flag and an ABC dead cat bounce.
Zooming out to the weekly we see fractal patterns resembling a bear flag with further downside in play. Volume candles on the recent capitulation dump prove notable but not convincing. The recent break below the orange trend line shows a potential bull trap fake out last week followed by a Friday night massacre on the markets.
Useful is a comparison the the ETH/USD and ETH/BTC charts when compared with ETH.D dominance which recently peaked at 22%.
Bearish butterfly pattern on the BTCUSDSHORTS chartAlong with with having using the BTCUSDSHORTS and BTCUSDLONGS charts as indicators of the BTCUSD chart(using trend lines, fib retracements, and common indicators on them), often giving me a very good idea of when price was about to reverse when signs weren't exactly showing on the BTCUSD chart itself. Trend lines on the indicators themselves, no matter what the chart is, often have been very helpful too. The more reasons to take a trade(or be bullish/bearish), the better. Anyway, now that I'm on a harmonic pattern kick, I had to find a corresponding bearish pattern to go with the bullish Gartley pattern within BTCUSDLONGS(see related idea).
2nd long entry HIT. Double SLOW MACD divergence 1-hour. POWERFUL2nd limit order has been hit, lets hope those stop losses are not hit.
The reason this 2-week move has been so powerful is because the Euro was massively overbought on a monthly time frame. Normally we would see a bounce right now and if we do not, there is obviously an elephant in the room we do not know about.
Disclaimer, not financial advice..I am not a certified financial advisor.
BTC -- Bottom? or Deadcat bounce?After seemingly forever BTC finally broke down through the famous "$8500 bottom support".. days later we're about to test that level again.. I believe we will bounce until around 9000-9500, then continue down bouncing down off of the previous bottom trendline that we broke recently. -- I do not think this is a bottom, I think it is merely a deadcat bounce
BTC - Bitcoin chart, if we compare it with a Moon & 3 Dead CatsIf we compare Bitcoin chart with Willy Woo's theory of 3 Dead Cats and A Moon,
then we find a pattern like in this graph.
and it's showing ore bullish pattern ahead after we complete the 3rd dead cat (or 3rd attempt to bounce ).
one of the best strategy to survive from this is just HODL.
USDCAD - Neckline ResistanceIt's a quite good R/R on this Neckline resistancet in my opinion while the Risk is not that much but the Reward quite okay and possible.
The Volume Profile suggests the Resistance is good defended.
Not that great with words, so i make an update to form my thoughts on this properly.