XRP/USDT is in downtrend: accumulate and prepare for LONGThe live XRP price today is $0,90 USDT with a 24-hour trading volume of $4.008.592.011 USD, - 14,08% in the last 24 hours. Since the local top at 1.40$, price undergone a significant correction (-35%), which we were expecting after hitting multiple times upper level of Keltner channel.
The prognosis for the next days is still bearish as price has fallen under 20/50/100 days EMA and looks now ready to test the level of 200 EMA. Bearish fractal appeared, MACD is still bearish but RSI index seems approaching oversold area. Personally I expect the price to test 88-89 area as support (200 EMA) which could fail, determining a decrease up to 0.81-0.82 level, which represents the resistance oh 4h chart. This can be a good entry point for long positio n. Wait for confirmation of bullish fractal (red triangle) and a reversal in RSI trend.
POSITION: LONG
ENTRY PRICE: <0.83
TARGETS: 1.08 / 1.19 / 1.29 / 1.40 / 1.55 / 1.63
STOPPLOSS: 0.675
Keep in mind that altcoin markets are always strongly influenced by BTC performance, therefore after the BTc bearish divergence playing out we can expect another dump also for XRP, possibly TO $ 0.75 area.
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NOT FINANCIAL ADVICE
Decrease
I believe, winter is arrived/Ich glaube, Winter ist angekommen!I think BTC will decrease to 20K and stay there for 2 or 3 years. Probably the fluctuation will be around 20K. Of course, BTC has a profit in the long term, but it doesn't sound well in short term.
Ich denke, dass BTC bis 20K abnehmmen und bleibt dort for 2 or 3 Jahre. Vermutlich werde die Fluktuation rund um 20K sein. Natürlich hat BTC auf lange Sicht Profit aber kurzzeitig es klingt nicht.
AET
BTCUSD | Two important questions about further price actionAfter trading below $11 000 for weeks, Bitcoin finally broke above that psychological level with a 5% increase in the past 24 hours. The alt coins have come along for the ride, and the market cap has jumped by nearly $20 billion since yesterday.
The price rally finished 5 impulse Elliott waves pattern and formed an ascending supportive trend. The consolidation area is located around $11 300 zone which is represented by Ichimoku green cloud.
Q1: What should happen next?
We can see decreasing trade volume based on oscillator relative value which is below 0. Directional Movement Indicator (DMI) is still bullish but +DI line decreases and soon will cross key level. Such conditions reveals decreasing buying power and upcoming trend shift. Based on these findings we can forecast a small local increase but it soon should change to a downtrend which can bring the price to consolidation area near with $11 300 area.
Q2: Will this level hold the retracement?
It is possible due to bullish mood of the market and DeFI market capitalization outflow back to spot market. However 5 Elliott waves pattern is usually followed by Elliott ABC corrective waves which work perfectly with Ichimoku clouds indicator which shows where downward pressure should meet a strong resistance. In such cases price action tends to decrease until lower red edge which acts as a support.
Summary
Elliott ABC correction wave pattern has not been finished yet. It still can be rejected if price bounces from support near (B) point. In this case we can see a new growth waves begin. However there is a higher probability of retracement pattern to be finished and in this case we will see Bitcoin's price action in lateral trend around $11 030 level
Hedge your positions with strict risk management settings
Best regards,
SkyRock Signals team
Tencent - 700HK
Does the stock price build a double top formation?
Will the stock price cross the previous valley low at HKD 511
If yes, the formation target price would be HKD 458; another 10% lower
There was already a double top formation on the weekly chart February 18
After a sharp decrease the stock moved sideways over several months
AUDUSD SELL OPPORTUNITY Wait for the right point to go for the sell position on Aussie dollar to USD, AUDUSD will just decrease to lay on the support level (0.67250) as a pullback
...Take it into consideration anything can be possible to happen, if it breaks up the support level this idea would be failed.
You never quite know where the next big wave or gust of wind is coming from, but you know it is out there.
BTCUSD | Going down to $6 000 levelA confident and sharp growth of Bitcoin's value this summer brought most cryptocurrency holders to a bullish mood. However euphoria finished with a last parabolic wave on 26th of June. Further price action formed a standard for Bitcoin triangle which unfortunately was broken down on the 24th of September (Point I at the chart).
Further an ascending broadening wedge was formed which is a strong bearish sign. An ascending broadening wedge is a bearish chart pattern (a reversal pattern). It is formed by two diverging bullish lines. An ascending broadening wedge is confirmed/valid if it has good oscillation between the two upward lines. The upper line is the resistance line; the lower line is the support line.
Each of these lines must have been touched at least twice to validate the pattern.
These touches are displayed at the chart and we can see that price sharply broke down at point II but then met a strong support and bounced above Fib 0.5 level. However ascending broadening wedge resistance rejected further growth and at point IV price action confirmed bearish trend.
Currently the price is at point V and crawls down near with the major resistance which was formed by the original triangle upper edge created by the June's pump. In case of continuation the price will reach $6 000 level within 20 days.
The most important is that the mentioned point of $6 000 is also a place of crossing with the major support which rejected very bearish pattern last time thus with a high probability a new bull run will start there
Stay tuned to receive updates to this trading idea
Best regards,
SkyRock Signals
Sony To Spike In Wake of VR Release NYSE: SNE may spike before October 13th in anticipation of Sony VR release. The media and fans alike have been in positive review for Sony's take on virtual reality; and it surely might change the gaming environment for years. Think about the next generations to come (similar to smart phone updates and versions). I would watch this stock in the next upcoming months as the holiday season approaches. Good Luck!