about to formed nearly a double top... market looks due for more downside... even a break above you need to scalp only because market will drag alts down when eth btc ltc xrp etc start dumping in unison... you can still scalp a breakout play here i recommend no bigger than 5 min time frame because market is too unstable to be in a trade like this for long...
Price Reversal from 0.74988 to 0.73677 after a failed head and shoulder on the 1H chart.
Good morning! So, the HS and IHS became super popular a couple months ago. In my opinion, they rarely play out on bitcoin so don't get excited. Remember, there are many more variables to consider. If the right should DOES complete, I see a fake out followed by a decent dump possible happening. Don't get fooled; there is major resistance in the way and seemingly...
Good morning all. Some people may have gotten excited about the large descending wedge on the daily. I personally ran an awesome short and here's why: 1) We formed an ascending wedge with four solid points of contact. 2) Volume continued to decline, even at breakout point. 3) The daily printed a shooting star candle at the point of breakout. This is a clear...
This is an hourly chart that I Find to be very trendy. The 50% overall angle of attack makes this a measured move and I believe we are forming the head at the moment of a failed cup and handle quite perfectly on a 50 degree angle of attack. The right shoulder should form around 2675 area. Then, continuation of the daily Inverted Cup and Handle.
BTC was looking for a nice wedge consolidation and breakout to the upside, but bulls overextended the price up out of the wedge a little too soon, cancelling the high tension accumulating within it. Without enough buyer confidence to follow through on the early breakout, a 3-wick rejection has occurred so far. Since the consolidation tension was released too...
Datetime : 23 Feb, 22:00 Berlin Time Since LTC seems to follow big daddy XBTEUR, I went bullish on LTC since I was bullish on XBTEUR. See my thought process on XBTEUR on 24 Feb in the related ideas section to find out why I was bullish on XBT. Also, note that that LTC clearly shows massive upward momentum following the downtrend with significant high on the MACD....
The pair formed double bottom and this is the 3rd attempt to confirm the breakout and it look like a failed breakout at the bottom of the range. Look to enter long in case that the you see higher low or double bottom on the 15m Chart. Good luck:)
ETHUSD Update: Another failed attempt to break the 271 to 291 resistance zone which does not support the bullish argument in terms of price action. If this market has any real buying, the proof will be a sustained break of the 300 weekly high. If price does not break above the 300 level in its current attempt to rally, it will have sucked in liquidity for the...
Pair has broke long both the top Triangle Trendline and the top of the range box. I am watching to see if the market fails to progress higher and fails. It will fall or move sideways but if price comes back into the range box it will have a strong bearish momentum behind it. I have placed a sell stop @ 1.2978 to catch the fall. My TP is above the 23.6% fib @ 1.2890.
ETHUSD Update: Price is holding, but the failed breakout and lack of progress above 349 is concerning and highlights the risk at these levels. When strong markets break out, this usually attracts more order flow. ETH is a market that is closely watched, and the failed breakout above 349 is concerning because where are all the buyers? I realize these markets may...