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Forexpeacearmy

6500$ is a vital level for short-term perspectiveMorning guys, BTC shows very narrow price action, activity has dropped significantly, so we do not need even any update on daily and 4H analysis. Today is NFP release and preliminary balance stands not in favor of BTC as market mostly expects to get good numbers. Anyway, BTC stands tight and is forming something like reverse H&S on 1H chart. Whatever it will be - 6500$ area has been tested multiple times and supports BTC from collapse. This level will be crucial today either. Drop below it could trigger chain of breakouts of lower stand levels and trigger action to our downside targets that we've mentioned before on 4H chart. Standing above 6500$ and breaking 4H trianlge up could turn short-term sentiment to bullish
BITFINEX:BTCUSD
by Sive-Morten
BTC looks heavyMorning guys, our 1H H&S pattern has been completed on Friday by occasional spike up of NFP release. Longer term analysis mostly makes us to look south. It means that every time when market will come to long-term trendline - it is time to go short, especially if we have some bearish continuation/reversal pattern. Now it is around 6800 - 7000$ on daily chart. Longer term analysis holds us from taking any long position. It will be possible if long-term triangle will be broken up. Now we see more chances of 6000$ breakout. Please follow our signature link to see other charts - weekly, 4H, 1H.
BITFINEX:BTCUSDShort
by Sive-Morten
1
EUR up to 1.1623 then down to ~1.1560Greetings guys, So, yesterday market has touched our 1.15 support area and neckline of 4H H&S pattern that we've talked recently and still keep in focus. Now it's time to talk on upside perspectives. Following the harmony of the pattern, upside action should reach 1.17-1.1730 area. Our butterfly has worked perfectly and market turns up. Now, on 1H we're watching for minor reverse H&S pattern, with upside continuation to 1.1622 Fib resistance first and drop to 1.1560 - 5/8 Fib support second.
Long
by Sive-Morten
BTC looks to heavy for upside contextMorning everybody, Recent price action makes us keep bearish scenario valid. BTC action looks heavy, no signs of thrust up. Current action as on daily chart as on 4H chart looks like retracement after fast drop. Besides, we have uncompleted our major daily 5900$ target. Putting it all together, our expectation stands with downward continuation. The only uncertainty is not about the target but around the point where this action should start. Either it will start right from here, or, market could form 1H "222" Sell". Please for daily and 1H patterns visit our signature link, dedicated to BTC analysis.
BITFINEX:BTCUSDShort
by Sive-Morten
EUR is tending lowerMorning guys, Last week was a reversal one right from strong daily resistance. As a result, we've got bearish engulfing pattern on weekly chart, which, as a rule, takes the shape of AB=CD action on lower time frames. Since we also could recognize H&S shape here, our expectation is EUR should reach ~1.1450 area, by forming right shoulder and upside retracement first, as it is shown on the chart: Deeper all time frames EUR analysis and fundamental market background you could find on our signature link.
Short
by Sive-Morten