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EUR/USD - From Bull to Bear! Hello traders, I bring you here a trade on EUR/USD, and i must say, EUR/USD is about to Become a Bear for a long time!! I was analyzing the weekly chart and price broke a trendline with almost 2 years and has just retested it and made a Shooting star on the weekly chart. Bearish MAs crossover on the Weekly chart also confirms more downside movement, the final target on the weekly is almost 1000 pips down. I will post later a weekly chart technical analysis if you want to so you can see how crazy can things get on this pair on long term! Big opportunity for us traders for sure. We are now going to touch de 0.5 Fib area and maybe going to retest the 0.382 area, and after that a big move down is expected. Wait for the entry zone to SELL! Feel free to comment your ideia below! If you like this post dont forget to leave a LIKE i appreciate it very much ;) I will update this trade when needed.
Short
by RodrigoFAC
7
Watch that wave!Since a couple of charts I've been bearish on BTSBTC, in spite of the price moving higher over the past 2 weeks or so. I'm confirming my "Messy Macro View" idea here: there's a strong downwards fibonacci channel at play here, and very little to be excited about in the crypto market. As I've said before, everybody is basically waiting for everybody else to start a strong, impulsive move up. The result is, of course, that nobody's buying much, volume is reduced to a trickle showing little confidence in the crypto market in general, and in the end, prices drop because people phase out of the market. With the little volume there is, people leaving the market can cause steep drops, and I'm convinced the recent Goldman Sachs move was only the trigger for a move down that was going to happen anyway. But, back to the chart shown here! In fib channels the centerline is key, shown here in purple. From may to july BTSBTC tried to break through, succeeding at the start of last july. The centerline then became support, resistance, support and now, finally resistance again, with the break to the upside turning out to be weak. So, I think we're about to put in the 5th wave down of the last leg down, as shown above. No predictions about how far we'll go, because there are so many pivot levels that are significant that predicting the right one is a waste of time. My practical advice at the moment would be five things: 1) Short or stay out of the market. Don't go long for now. 2) Wait for the daily RSI to drop below 30 - something that hasn't happened to BTSBTC in ages. Given that our "bubble peak" in june 2017 went to 87 on the daily RSI (which is 13 above the 70 signal line) , it's only fair to assume that we can also drop significantly below the bottom 30 RSI signal line. 3) Monitor for subwave structure in the current leg down. 4) As the price reveals itself, watch where pivot levels cross with fib channel lines. 5) IF (and that's always a big if) price drops down, dollar cost average in when the subwave structure and daily RSI seem to indicate the end of the wave down. After that, I'm confident we'll go up again and see some nice gains.
Short
by thomasvandenabeele
5
Cofound.it VS Bitcoin Still Falling DownCofound.it downtrend seems to be still intact as price continues to produce lower lows and lower highs. After finding the recent high at 675 satoshis, CFI/BTC price fell down and broke the 50 Moving Average and the uptrend trendline suggesting the continuation of the downtrend. Today price produced a new lower low, and while the downtrend is expected, small correctional move up is also possible. But overall, Cofound price could drop as low as 420 satoshis, which is a strong support confirmed by two Fibonacci retracement levels and the downtrend trendline. It is also worth mentioning that back on the 29th of June CFI formed a double bottom at 515 satoshis, and currently it is trading near that level. Therefore while the downtrend is still valid, if the current support level holds, price could correct up strongly, or even reverse.
CShort
by CryptoPAMM
1
Bitcoin Potential Correction DownBitcoin has been rising since 24th of June, and went from $5780 up to the recent high at $8490 area, gaining 48% against the USD. Currently price has corrected down and found the support at the 50% Fibonacci retracement level and rejected the uptrend trendline at the same time. Overall, the trend remains bullish and at this point, while the Fibonacci support holds, the uptrend continuation is likely to take place. However, if the trendline is broken, BTC/USD might correct down further, towards one of the next minor Fibonacci support levels. Break below the trendline could also mean the consolidation between the $7350 and $7850 levels. If BTC will break below the $7350, more downside correction should be expected, and Bitcoin could reach the $7k psychological support, that is 61.8% Fibonacci retracement. Finally, if the support at $7k is broken, next support is seen at $6650, which is 76.4% Fibs. And only break and close below the $6650 could be the confirmation of the downtrend continuation.
COINBASE:BTCUSD
by CryptoPAMM
ZenCash VS Bitcoin Possible Correction DownZenCash has been trending upwards since 24th of June, and has climbed from $15 up to $34, gaining 134%. Recently ZEN/USD faced the resistance at $32, which is 127.2% Fibonacci retracement level applied to the last corrective wave down. Price has spiked above the resistance, althogh failed to close higher, suggesting the corrective move down. At the same time ZEN found the support at $28, which is 50% Fibs, that was rejected today. As long as price stays above that support, ZenCash is likely to consolidate. Currently there are two important support levels to watch, $28 and $25, which corresponds to the uptrend trendline. Break below $25 should result in further decline towards $21 and even $18. On the upside, clear break and close above the $34.6 is required in order for the uptrend continuation to take place.
BITTREX:ZENUSD
by CryptoPAMM
Agrello Continues Losing To BitcoinAgrello continues moving within the descending channel, while producing lower lows and lower highs. The downtrend is very obvious, especially with the recent bounce of the 1922 satoshis resistance and 38.2% Fibonacci level at 1686 satoshis. Today DLT/BTC broke below the 50 Moving Average, suggesting the continuation of the downtrend. Price is likely to decline towards one of the Fibonacci retracement levels applied to the recent corrective wave upwards.  First support is seen at 127.2% Fibs at 1028 satoshis, that is very close to the 1000 satoshis psychological support. Although if that support is broken, DLT could decline further towards 161.8% Fibs at 821 sutoshis, which corresponds to the middle trendline of the extended descending channel. All-in-all the trend is bearish and the only thing that could change that is break and close above the established resistance at 1922 satoshis. And perhaps daily break and close above the 2k psychological resistance could be that long waited confirmation of the upside momentum
DShort
by CryptoPAMM
Eidoo VS Bitcoin yet to hit Downside TargetEidoo has been steadily declining since the end of April when price has reached 3143 satoshis high. Since then EDO already lost to BTC over 50% and it seems that the downside momentum hasn't ended yet. EDO/BTC has formed a strong resistance at 1655 satoshis, that has been rejected multiple times, with the latest bounce occurred on the 7th of July. Price continues to move down within the descending channel and could be heading towards the lower trendline. Fibonacci applied to the First corrective wave of the descending channel shows that the strong support is located at 1180 satoshis, that is 327.2% Fibs. This could be the first downside target for Eidoo, but if broken, next support is seen at 1000 satoshis psychological level. All-in-all the support area is between 1180 and 1000 satoshis where the downtrend could be ending. But at the same time the upside reversal could be the case, but only if price manages to break above the 1655 satoshis resistance.
EShort
by CryptoPAMM