BTC on the dailyI used the elliot wave with fib extension and if I am doing this correctly, it looks like the 5 wave will be going to the $8700 range. I am just starting to learn this. What do you guys think?
Fib
USDCHF Short setupPotential short play on the swissie, look for a retracement into thislevel, 1hr 50ema and a fib level for confluences to get short if previous structure breaks
Bitcoin and Altcoins battle for marketshareOn the left, we have the Altcoin market cap vs the Bitcoin dominance chart on the right. We are looking at a possible reversal with the alts as we approach the 77 Billion dollar mark and Bitcoin's drop to 62.72 dominance. As we get closer to the Bitcoin halving I believe we could see Bitcoin bounce from this fib line at 62 and trend higher as bigger money starts to accumulate more Bitcoin. Once we move higher to the 68 level in Bitcoin dominance then we will top out with Bitcoin and head lower to the 57 mark. At this point, Altcoins will have hit their low at the next fib line of
$50 billion and head higher and from this point, I believe Altcoins will not look back as Bitcoin slowly gives market share to its cousins and nephews in the Alts.
BTC Short Term Bearish Indicators + Target SupportBased on recent bearish price action and overall sentiment, I suspect we'll retest these recent support levels indicated by Fib soon.
Possible Bitcoin short term scenario pre-halvingThis could be a possible short term outcome for Bitcoin pre-halving and post halving. Please take into consideration that we could go lower into the $4,000 price range but if Bitcoin respects the fib lines at the low $5k level then we could be seeing the second higher low into the halving. I would be very excited to see this as the ultimate outcome but we all know this is never clear.
LTC SHORT 1 : LTC in daily chart is an incremental triangle pattern, and its BREAK OUT has been successfully created
2 :The end of the breakout created is a dojistar that indicates market confusion and indicates the end of the downtrend.
3:Trend in fibo failed to break the 38.96 support line and is a valid support, and if the trend can break the 42.8 resistance, the possibility of uptrend increases.
My suggestion is to wait until tomorrow. If the candle is closed tomorrow green and above the dojistar, the probability of uptrend
Fibonacci should be your best friend! DJIIs the low in? That's the question everyone is asking themselves... It's difficult to come up with a good answer, one may be able to respond based on fundamentals, elliott waves, past corrections etc... But nobody knows for sure, and there is no best practice or highest probability that can aid you to get the correct answer to that question...
The question that everyone should be asking themselves if they want to make money in this market: " when do I buy? When do I sell? " The answer to that is pretty easy... Use Fibonacci!
If you don't believe Fibonacci might be the answer, you either don't want to, or haven't had the time to look into it. Please... start using this indicator properly on your mid and long term charts, use it in addition to the other indicators you're already using, or base your stop loss on a FIB level break or not, you will profit from it in the long run.
2 more tips from me:
1: The 0.618 FIB is the most common resistance to change the market direction and continue the bigger trend in most traditional markets. (0.5 can be more common in some markets/assets)
2: In extreme bullish or bearish scenario's the 0.5 FIB or even the 0.382 FIB might have more influence or a higher potential of changing the market direction than the 0.618
on the DJI we already saw the 0.382 introducing a lot of resistance, I already told most people that I believed this resistance was going to break in the short term because there was too much market acceptance and too many retests around that level. Surely, we did break the 0.382 and went straight for the 0.5, where we once again see a lot of resistance, and the more bulls are able to retest that level the higher the chance it will break all the same. If I had to make a guess right now, I would say that we might still visit the 0.618 (or get close to it) before we go down for either a higher or lower low in this market. Of course, some companies like Shell (which I bought at 11.7 EUR on AMS) might have seen the worst, even if the DJI itself was to go below 18k.
Short term Tezos play up to $2.66 then back down to $1.98.This is just my calculations using Fib circles and Fib lines to guide me on the possible next few weeks' outcome for Tezos. This is just my opinion and not meant for trading advice. Please do your own research and understand that this market is extremely volatile. Given that the Bitcoin halving is just weeks away I believe we could see a move to the upside with Tezos. Now, could we go lower with Tezos in case Bitcoin falls another couple thousand dollars to the $4400 range? Yes, this can happen and if so Tezos will go lower as well. Please be cautious.
Note also that we are about to come in contact with the 50-day moving average and when this happens Tezos usually has broken above the 50.
ETH/USD Descending Channel RetestRetest of a long downtrend channel. If it bounces at the top, next target could be around $190
Wait for bear div and .618As you can see on the weekly chart fib, we have reached the .618 retrace of the crash and do not need to rise much further. A safe entry would
be waiting for a bear div at the top of the wedge or a test of the .618 fib level at 7800.
EURUSD AnalysisAs you can see we are in a downtrend, price has recently respected key fib levels and pushed lower, we are at a minor support level atm and i expect in the early sessions next week to see some relief and a retracement to a higher support area where I will be looking for shorts.
usdcad bearish setupusdcad will go down down down and down again. Fundamental is key everyone, numbers dont lies. Bearish pattern on mutli time frame.Cad will get stronger anyway. Cheers to many pips
AAPL : still targeting 240Still targeting 240 level to watch for chance to take a long position. An extended flat A B C has C going beyond the ending point of A. Again, will watch price action in that zone for a position for Wave (C) up!
EUR/AUD 4H SHORTEUR/AUD May fall 50-100 pips
Price moving in a downwards trend near support at 1.7831 and unlikely to hit resistance at 1.8219. Price should bounce off the trend line and continue downwards.
Intraday - 4H
Trade: Sell
Entry 1.7782
Sell or Below: 1.7831
Target TP: 1.7730 & 1.7532
Pivot and Support 1.7831
Alternative scenario:
Trade: Buy
Bur or Above: 1.7831
Target TP: 1.8219 & 1.8433
EUR/CAD 4H SHORTEUR/CAD May fall 50-100 pips
Price is forming a symmetrical triangle and may consolidate further before a breakout. Support at 1.5510 has been broken previously, overall the daily trend is upwards but a recent down trend could take price to further lows.
Intraday - 4H
Trade: Sell
Entry 1.5491
Sell or Below: 1.5510
Target TP: 1.5439 & 1.5352
Pivot and Support 1.5510
Alternative scenario:
Trade: Sell
Bur or Above: 1.5510
Target TP:1.5581 & 1.5669
Entry level for S&P500 ($1705-$2350)Many countries are releasing stimulus right now increasing Singapore. I think it will help boost the economy slightly. However, based on Fib retracement, a good entry level for S&P500 ($1705-$2350). A Fibonacci retracement is a term used in technical analysis that refers to areas of support or resistance. Fibonacci retracement levels use horizontal lines to indicate where possible support and resistance levels are. Each level is associated with a percentage. 50% to 61.8% are usually good indicators for a good entry point whenever there's a retracement downwards after a bullish run.
