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Bitcoin Bear and Bull Fractals at Crossroads AgainBears: Bitcoin is showing weakness with a double top at $475-500 and H&S formation as well. A move below $400 on Bitfinex will confirm the bears taking over and a potential revisit of $340-350 and even $315. Bulls: If we manage to hold above $400 then we will stay in 2 weeks of sideways and consolidation and break out after January 15th towards new highs of $650-680 Note: Any bad news e.g. BitcoinXT Fork etc. can wick down Bitcoin to $275 then shoot it back up. Donations: 1Kbfudifg5n9DtpYymcL3E8pE2oX4Vq7CG Bitfinex Signup: www.bitfinex.com Okcoin Signup: www.okcoin.com Follow me as well on Twitter see my profile for more info..
BITFINEX:BTCUSD
by BitcoinGuru
Ethereum (ETH): The downtrend that never endsThe chart is the long view on Ethereum, and boy-oh-boy it is hanging on by a thread. Price is trying to make a triple bottom historically and a double bottom of this bear market in the 0.0023-0.0021 range. Every time it tries to breakout it gets rejected at the downtrend resistance. Best guess says that the only people that could be selling this much coin would be either be from the ETH team or Augur’s ICO/IPO ETH wallet is being emptied. This is one more reason to take the safe long versus accumulation of a position. If an entity has a lot of coin they can short the market while selling down a very long way. Considering the EMA, sloping resistance trend, and final support zone are all converging it seems far more prudent to go long after the first green line is surpassed. If the final support does not hold there is noting stopping it from free falling to 0.001, and that is not a long you want to be stuck with. Chart is powered by the SCMR Trends Analysis Suite on Tradingview.com www.coinstreetnews.com
by CoinStreetNews
3
Trading Plan Oct-NovBUY: new high, break of 248 TP: along the targets up to 281 SELL: break of black trend line & failure to break 248 TP: around 232.5 - 235 / Build a new long position from there. HOLD: if you are long, the break of the C&H neckline indicated that price will try to reach the C&H target 256-258 A break of 248 would indicate that price will be trying to reach the double bottom target 268 - 273 OTE SELL ZONE: Look for reversal signals there and establish a short position The white & red forecast drawings are just for the purpose of orientation.
BITFINEX:BTCUSD
by MagnusTradingGroup
1
EURCAD : Correction May Be Over; Pair Could Reach Lower LevelsOn the 4h chart of EURCAD, we see that price was trading in a correction, because of a slow and sloppy price action. That said price made a double zig-zag labeled as red waves w-x-y. We think that correction might be over because of a sharp fall to the downside labeled as red wave i-circled. A recent pullback to 1.4984 could be red wave ii-circled, and now we may see price reach lower levels in red wave iii in days ahead. A double zig-zag is a correction, a complex pattern structured by seven swings. It's actually a combination of two simple zig-zags. The difference is that usually double zig-zag will make deeper retracement and be longer in time compared to only one simple zig-zag. Two zig-zags are separated by wave x. www.ew-forecast.com
Short
by ew-forecast
7
keeping an eye on how USDCHF evolveswe can see 2 bat patterns on the 4h timeframe: 1) the first one close quite above the 1,272 fib level ( considering trend harmonics) so this might nog be so significant, though I believe we will see a little drawback in the red square 2) the second one closes right at the 0,886 fib level of the freefall in January. It's also not that far away from the HC in months ( meaning a good SL position) note that these 2 patterns are counter trend patterns, so they should fit in your strategy plus the "greek crisis" might also have a slight bullish impact on this pair This is just an idea, but depending on how the price evolves, I'll look at it in more detail.
Short
by gytn25
EUR/GBP Prepare for longMy honest opinion is that one of the major mistakes globaly is that traders counter trend immidiately once price hits PRZ. Even with DT or DB you need some sort of comformation, at least break of DT/DB and wait for price to retrace back to the V bottom of DT structure or A top of DB. I found out that the best way to get comformation that trade has really changed is break of EMA 123 and break of trend line with at least 3 touches after that we should watch for retracment so 123 on lower timeframe and then trade break of the retracment. Better safe then sorry ;) Resons are written on the chart! If you have any question feel free to ask! Best regards
Long
by AcademyInvestment
2