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Diamondbottom

BTC (Y20.P1.E5).MACRO.Trend.ForecastHi all, ** Note: This POST is only about the MACRO level. > After looking at the bottom and drawing some trend lines, it occurred to me that we possibly have a "DIAMOND reversal trend" , at the Macro level. > Beyond what most have have accepted and pretty much confirmed is that a inv. H&S took place, which is not the whole story. > FYI I define inv. H&S as a Micro or Medium level move (just to make sure my language is with consistent meaning). Below are some of my observations\hypothesis and the rest I leave to you to come up with your conclusions. Enjoy. Please give a thumbs up or a like if you agree or just appreciate the effort. Regards, S.Sari /CryptoProspa I'll just put in the micro level observations to give a case for the "DIAMOND bottom formation" At the big structure level, what we had in 2019 was a continuation pattern. A big year next year and on-wards? (note red vertical line represents BTC halving time line) Also not key details about macro fib. levels and their confluences. I like this MA, which does a good representation of the segment from bearish to bullish indicator. The RSI also has some points on supporting the bullish thesis on the daily and weekly which I wont go into. My thoughts at the MEDIUM LEVEL with a DIAMON support structure Supporting this post, is the PREVIOUS POST and the explanations to go with it for bottom channel trend
BITSTAMP:BTCUSDLong
by ssari
BTC (Y19.P2.E11).v3.Something to watch out forPotentially a diamond formation taking place. Quotes from 3 sources. 1) This can be a reversal or a continuation. where break up is 70% chance, and the chance of a break down is 30%. 2) How much has #Bitcoin rallied as a result of its Halvings to date? Halving 1: +13,378% Halving 2: +12,160% 3) The market has a way of inflicting pain on late entrants, always. It does not care about your plans. Keep an eye out for the signs of total negativity and complacency by bears. Diamond bottom formation reference > www.profitf.com
Long
by ssari
#bitcoin - continues falling to it´s support (3D)Good Sunday morning traders, last week I have been saying, that there is space down to minimum $ 8165. Looking at this still very valid potential diamond bottom pattern just sitting on the so important Yearly Pivot. So the big question is, where this is going to break. Considering the fact we are on top of the P-Y and it´s position, the odds are better to break this upwards, I am expecting a rather strong move within the next 2 weeks, until then possibly ranging in the lower $8k´s waiting for buy-orders to kick in. What would be very typical Father Bitcoin is a break-down and strong stop-run to take out the shorts and heading back up to form a low. (Or the other way around) I am refusing to set targets for either direction at the moment, simply because Bitcoin has been a bad boy recently. Anything else stays the same. As usual I have marked you the important upcoming supports / resistances. (Also have a close look at the cloud!) I am still scalping by the way. Not ready to take a more steady position just yet. :) Happy trading. Neru p.s. I´d be very happy about a like and comment! Thanks!!
BITMEX:BTCUSD.P
by Gl4diator
8
#bitcoin - #diamondbottom #chartpattern , 3DDear Traders, obviously this is just an idea and nothing that can be traded by now. For this I have taken out one of my former charts, where I tried to show you the stages that are probably awaiting us. Currently I am still not bearish mid to long term. This drop was caused by a broken key-level around the Monthly Pivot and we are now starting to approach the first zone of possible support (yellow area). At this point I am starting to see a possible diamond bottom pattern forming out. It is very early, so no forecasts can be based on this. Anyhow the old trend line is around this support-area as well and likely some orders are going to be hit soon. What I would not like mid-term is another break below the Yearly-Pivot. We are still in a very neutral zone, where anything can happen. Warm regards, Neru
BITSTAMP:BTCUSD
by Gl4diator
4
xrpusd almost ready to break up from diamond bottom?xrpusd currently finding support on the top trendline of the wick diamond...a 1day close above it would be a very bullish development as we have yet to close a 1 day candle above it but odds seem likely we will soon. The question remains which diamond bottom will be the more valid one: the wick diamond or the candle body diamond? Hopefully judging by the 2 breakout targets it will be the wick diamond as it has a target that can lift price action up over the crucial horizontal resistance line at 40 cents and hopefully flip it to solidified support...considering the fact that the body diamond has had some closes above and below it ups the probability that the wick diamond is the more valid of the two as well. We will likely need to see 2 consecutive daily closes above the wick diamond before any breakout is confirmed.
POLONIEX:XRPUSDLong
by DrDovetail
Ethereum - DeFi Blockchain Killer dApp? - Classic TAIs #DeFi Blockchain’s Killer dApp? Over the years, talk about what blockchain’s best use case is has turned from gaming to cloud computing, and over toward more obscure possibilities. As time goes by, however, it’s become apparent that money is what blockchain does best, especially when that money, and the way it’s invested, is decentralized. #DeFi, short for decentralized finance, has emerged as blockchain’s leading use case, but that should come as no surprise. Examples of decentralized finance have abounded for years, but what has been missing all along was the short and sweet hashtag reference. Decentralized exchanges, projects like OmiseGo, and platforms such as Cardano all contribute to the overarching spread of #DeFi. The significant difference now, as compared to a year or two ago, is that the #DeFi ecosystem is much more clearly defined. A large part of that definition results from the decentralized loan space being spearheaded by projects like Compound, MakerDAO, and Dharma. Some centralized players are bringing light to the space too. Nexo, Genesis Capital, and Celsius Network are raking in big bucks doing the crypto lending thing, which, though not decentralized, locks more value into the crypto-financial ecosystem. While crypto loans have been the linchpin of #DeFi up to now, we’re witnessing the broadening beginning of what feels like a true financial renaissance. Yesterday, MyCrypto.com reported a new milestone reached with 2.2 million ETH locked into the #DeFi space. At current ETH prices, that’s just shy of $400 million secured into decentralized lending and derivatives dApps. Well keep you updated as this timely issue evolves. We go together Together we are stronger Share and like I am not Bearish long term. I am a Bull of Bulls. Thanks God bless you! =============================================================================== Twitter > twitter.com =============================================================================== CAUTION! DISCLAIMER Trading is risky. Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio. Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong. At the end of the day, the most important thing is how good are you at risk control. Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management. Risk comes from not knowing what you're doing. Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out. But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities . So you can assume that I know how to deal with risks. =============================================================================== $BTC $BCH $BNB $XLM $EOS $ETH $ADA $LTC $TRX $XRP $IOTA $LINK $XTZ $BTT $XMR $NEO $BTT $MATIC $XMR $MRK $XEM $ONT $DASH $BAT $ZRX $LSK $NANO $REP #altcoins #ethereum #BuyTheFear #BuyTheDip #CRYPTO #ETHEREUM #ETH ===============================================================================
Long
by ferGOD
Ethereum - I am here! Showing Signs of Life!Ethereum Showing Signs of Life. The Ethereum still looking primed for a move up into the we’re looking to the rest of the market to jump up again as well. ETH kicked this move off. During that time, a downward taper paired with a sharp move up perfectly showcased keen buyer interest showing up for the world’s number two digital asset. Since then, ETH bulls haven’t let prices slink much lower, despite the relative weakness of BTC since the VanEck SolidX ETF withdrawal. For the first time in forever, Ethereum has shown signs of life, reminding many of us that it’s still here. Despite going dark for nearly 1.5 years, the world’s number two digital asset is picking back up on a stride it lost long ago. Let’s pull back the curtain and take a look at why Ethereum appears to be back in favor, and what that might mean for its mid-term prospects. Tether (USDT) is tying up Ethereum, but that’s a good thing. At the beginning of the year, Tether’s handlers declared they would be moving USDT from Omni to the Ethereum blockchain. Tether does upwards of $15 billion in daily transaction volume, and is itself worth $4.1 billion (hopefully) cash-backed USDTs. Suffice to say that is a ton of network strain heading straight for the Ethereum blockchain. As the year progressed, Ethereum gradually started showing signs which belied that strain. This month, transaction wait times have resembled those of the Crypto Kitties days, with some users waiting days for transactions to finally confirm. The huge boost in network activity caused by millions of Tether transactions has led to near ATH gas fees. In response, Ethereum miners have moved toward increasing the gas limit, which would create more transaction throughput. It’s easy to point out that Ethereum is struggling to meet the demands of Tether’s move, but that doesn’t tell the whole story. In our view, we’re witnessing the beginning of Ethereum-based decentralized finance (DeFi), a much touted but hitherto unseen network potential. With real value moving onto the network in a permanent way, the emergence of demand for the Ethereum world computer comes as a relief. While other smart contract platforms have thrown their hats in the ring, it’s probable that high-stakes products like USDT will continue to choose a tried and true platform like Ethereum. Ethereum 2.0 on track. On June 13, developers reiterated their belief that Ethereum 2.0 is on track for a January 3, 2020 rollout. As outlined in our recent analysis, ETH 2.0 will appear in several phases. Phase zero, which comes as the first most important implementation, will feature the launch of the proof of stake beacon chain. A switch to proof of stake will also mean lower gas fees and high transaction throughput, which should go some ways in ameliorating the aforementioned USDT situation. Additionally, Binance recently published a report showing Ethereum’s sheer dominance when it comes to hosting decentralized finance applications. EOS and BTC, the next closest competitors, have a lot of catching up to do. Ethereum outdoes them by hosting over 15x the amount of DeFi apps. From a network usage perspective, that’s a bullish sign for the future because DeFi apps use more complicated-than-usual smart contracts which, in turn, require more gas. Resources for watching Ethereum. The beautiful thing about blockchain is that network metrics are always available for you to see if you know where to look. Here are a few very handy resources for observing network usage, gas fees, network utilization, and more: etherscan.io etherscan.io etherscan.io ethgasstation.info studio.glassn Well keep you updated as this timely issue evolves. We go together Together we are stronger Share and like I am not Bearish long term. I am a Bull of Bulls. Thanks God bless you! =============================================================================== Twitter > twitter.com Telegram > t.me =============================================================================== CAUTION! DISCLAIMER Trading is risky. Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio. Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong. At the end of the day, the most important thing is how good are you at risk control. Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management. Risk comes from not knowing what you're doing. Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out. But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities . So you can assume that I know how to deal with risks. =============================================================================== $BTC $BCH $BNB $XLM $EOS $ETH $ADA $LTC $TRX $XRP $IOTA $LINK $XTZ $BTT $XMR $NEO $BTT $MATIC $XMR $MRK $XEM $ONT $DASH $BAT $ZRX $LSK $NANO $REP #altcoins #bitcointrading #BuyTheFear #BuyTheDip @btc @RedditBTC #CRYPTO #BITCOIN #BTC =============================================================================== Get $30 for every friend you refer Your friends and you get $30 each after they upgrade to a paid plan www.tradingview.com
BITMEX:ETHUSD.PLong
by ferGOD
1
XAUUSD- Will price continue its move to the upside?Gold prices fell on Tuesday on the back of a firmer dollar, but fears of a global economic slowdown fuelled by an intensifying U.S.-China trade war kept prices near multi-year highs. Meanwhile, Asian stocks on Tuesday were dented by U.S.-China trade frictions. Overall risk sentiment was poor and the trade war was likely to create more volatility, benefiting gold, Lu said. China has lodged a complaint against the United States at the World Trade Organization over U.S. import duties, trashing the latest tariff actions as violating the consensus reached by leaders of China and the United States in a meeting in Osaka. A new round of tit-for-tat tariffs came in effect on Sunday and although U.S. President Donald Trump has said both sides would still meet for talks later this month, tensions have shown little sign of abating. Also keeping investors on edge were uncertainties over Brexit with Prime Minister Boris Johnson indicating he could call an election to block lawmakers’ efforts to avert a no-deal Brexit. The long consolidation gives a signal for a bullish reversal back to the upside only when price breaks the diagonal resistance. The bullish reversal chart pattern spotted on the 1hour time frame is called the Diamond bottom chart pattern. A diamond bottom is a bullish, trend reversal, chart pattern. A diamond bottom is formed by two juxtaposed symmetrical triangles, so forming a diamond. A diamond bottom has to be preceded by a bearish trend. This pattern marks the exhaustion of the selling current and investor indecision. Volatility and oscillations increase in the first half of the pattern (i.e. in the symmetric broadening wedge pattern); then decrease in the second half of the pattern (i.e. in the symmetric triangle). A diamond bottom’s price objective is calculated by plotting the maximum height of the diamond at the exit point. - In 82% of cases, the output of a diamond bottom is bullish. - In 79% of cases, the price objective of a diamond bottom is reached. - After exit, in 43% of cases, the price makes a pullback in support on the resistance line of the symmetrical triangle (2nd half of the diamond). Breakout price- $1529.560 Resistance 1- $1532.072 Resistance 2- $1534.853 Resistance 3- $1539.339 Resistance 4- $1543.197 Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button! Ideas published should not be referred to as an investment advice
OANDA:XAUUSDLong
by PrimeXBT
2
4hr Diamond bottom price target hit with 100% precision!TA once again working is magic as the diamond bottom breakout on the 4hr chart has hit its target with 100% accuracy! Next to trigger should hopefully be the 1day charts falling wedge which should have a breakout target around 11.5k and then if we're lucky the double bottom will trigger which could take us back to 13k...those 2 patterns are still up in the air but the falling wedge has gained much more probability of triggering than it had thanks to this 4hr diamond bottom breakout.
COINBASE:BTCUSDLong
by DrDovetail
1
Crypto weather 2019: Brief respite before the torrential pain!Good day Traders, Bitcoin has a number of bullish signals for the short term, however, we are probably still printing a large bear flag, consolidating before 1 last bounce and then we resume the downtrend. Within the flag, we have a diamond bottom pattern playing out, with added resistance coming from our daily SMA50, and added support coming from the weekly SMA200, as well as the flag (uptrend support from our 2018). A diamond can break in both directions, however for the short term, the weekly SMA200 will be much stronger support than the daily SMA50 acting as resistance. The price should be squeezed between daily SMA50 and flag/diamond support, before we break to the upside from the diamond apex above the daily SMA50, before we go on to test our daily SMA100. We also have regular bullish divergence on the daily MFI after that large drop to our flag support yesterday and the $3400 support has been holding strong, with a lot of buying pressure beneath $3400. We could potentially have a flash crash to our $3300-$3330 support, but I doubt that we will drop below our weekly SMA200. If we do drop below $3370, this would revise our flag support to a more gradual angle and our flag resistance would probably be limited to around $4200. We have also now had a 78.6 fib retracement after the bounce from our 2018 low to our recent high of $4236, which tells me that the downtrend is still strong, so when we do bounce from these levels as we break out from the diamond apex, I believe our upside will be limited to a 127.2 - 138.2 fib extension target of between $4540 - $4690. On log scale, this $4540 - $4690 area of resistance is also where we will find major downtrend resistance from our ATH. Although it doesn't seem to matter if you use log or linear because no matter how you look at it, log or linear, we have trend line resistance. On log, this is from our ATH, and with linear, this is from our 24 July swing high. This is also where we will be retesting our daily SMA100 so expecting strong resistance. This is where I believe we will drop back to flag support and break to the downside with a large downside target based on the height of the flag pole. When we had our drop from $5658 to our flag support and 2018 low, we then only had a 38.2 fib retracement on the bounce, which tells me that the trend is still very much to the downside, considering that we had no expected v-shaped bounce, i.e none of the expected buying pressure, no capitulation candle on the drop, and volume has been dropping gradually ever since, setting up for the next major drop. We also had a downward cross on the weekly stochrsi. I'm expecting a 1.382-1.414 fib extension target for the drop from $5658, to somewhere between $2150 - $2070, which lines up nicely with the target of the larger bear flag when it breaks down (pole height from $6544 to our 2018 low). Looking at the fib extension target for the flag pole, once we reach our flag resistance between $4540 - $4690, that will be a 38.2 fib retracement after our main drop from $6544. When we drop from there, we will be resuming the general downtrend and I have a final 161.8 fib extension target of $1007. This means that when we reach the lower $2ks, I suspect that we will have a strong bounce to potentially retest the flag as resistance, as the herd starts to fomo when they begin calling the bottom, however this will be a bull trap, and we will head back to retest our lower $2k support, dropping to the 138.2 fib extension support of the larger move, around $1800. This part of the drop is significant, because this will be a break of market structure, as we break major uptrend support, starting from our 2013 swing low. This will induce panic when we can't get back above this support, and this is where I believe that our true capitulation event will take place, as we crash below $1k, and the initial uptrend support from the start of our bull cycle in 2015, to major horizontal support close to $800. This will be considered the "despair" phase of the market bubble and will be the final drop before the bears eventually throw in the towel and we bounce back above that initial uptrend as the price finally reverts back to the mean, before consolidating and beginning a new market cycle. $1007 is the 161.8 fib extension target of the larger move and fits in with Tyler Jenk's Hyperwave theory quite well. Good luck and happy trading! Diamond Bottom / Flag: Previous post:
BITSTAMP:BTCUSD
by Corn_Reaper
1