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Goldenratio

Descending Triangle BreakdownIt may happen tomorrow or it may string us along until the end of the year but it would seem this descending triangle has the potential to drop back down to support from LAST YEAR'S descending triangle. If this takes as long as before and we end up consolidating well into it's apex that would give time for the 200 week MA to move up and create strong support again as well (just like last year). This also makes sense with the Fib retrace because dropping to last years support would put us in the "golden pocket" between the 61.8% and 65% lines. I drew the fib using monthly candles which is why it falls a little short from the top of the triangle, but considering how volatile price action was around that top, I feel it's a good spot. I am short until we reach the buy zone between 8500 and 5000 (I doubt it will fall past 6400 & 6000 though). Then I will gradually transition long for the inevitable run back up as we approach the halving next year.
BNC:BLXShort
by galamity
2
USD/JPY Multi-TimeFrame Analysis Monthly: Huge rejection of 112 level with two spinning tops and a huge bearish engulfing candlestick Weekly: Break & retest of 108.5 zone with a nice shooting star rejection candlestick Daily: Bulls failed to take controll of the market by breaking the ascending trendline. Bearn are now on controll 4Hour: We have a descending channel. Price retraced to our minor zone and fib 61.8 and also correlates with our 50 EMA Waiting for price action to pull the trigger #tradesafe
Short
by theforexdaddy
1
How To Predict Bitcoin Using The Golden Ratio!From looking at bitcoin’s previous cycles and using the golden ratio multiplier of the 350 DMA, I believe we won’t reach $20k for at least another 6-8 months. We need to be more realistic when it comes to timing all time high’s in price. The golden ratio doesn’t lie and this method I am showing has worked for the past decade perfectly for calling market cycle tops and medium term price swings. First, take a look at everything i’ve marked on the chart from all the previous cycles starting in 2012 and you will see the top of each market cycle touches the 350 DMA multiples of the golden ratio. Starting in 2013 we touched the 350 DMA x 13 2014 we then went down to the next DMA golden ration multiple of x 8... then 2017 we touched the 350 DMA x 5 (Blue). This leads me to believe this next market cycle will have to top off at the purple line which is the next golden ratio multiple of x3. This makes perfect sense as I believe each market cycle will take longer and longer as the market becomes bigger and more mature. From my previous post, I pointed out that we are due for a correction down to the 350 DMA x 1.618 and then later the 111 DMA (Gold Line). I’m still firm on this situation happening over the next few months because we are just way too high in price right now and the Daily Moving Averages need to catch up. All the DMA’s are in a steep uptrend and we want to see that purple line (350 DMA x 3) rise as high as possible because that will be the market cycle top! From looking at when these DMA’s cross you can tell when the price will begin rising dramatically and you can also tell when the bull run is as it’s peak! How? Well, historically whenever the gold line crosses the blue line the price goes to new heights rapidly. Then whenever the gold and the green lines have crossed we have reached a market cycle top! Look at all of the previous cycles on my chart as i’ve marked each time this has played out perfectly! Why does this work so perfectly? I don’t truly know. The only explanation I have is that it’s just the nature of consciousness. The market of bitcoin is a growing collective of consciousness, the more people entering this market the more accurate it becomes and the more the golden ratio will likely apply. You can use it in other financial markets but I feel it applies best here since there’s not as many factors besides speculation right now in bitcoin. The golden ratio can be seen everywhere in nature, like a snail shell, patterns on plants, the galaxies in space, and I believe psychologically it applies too. Consciousness is constantly only trying to understand itself, and that’s all life is really trying to do, and it just mysteriously plays out it the golden ratio 1.618034. Thanks for tuning in, I hope this gives you more clarity in this market :) IG: smack
BITSTAMP:BTCUSD
by UnknownUnicorn3766100
2
Lite the Way - LITECOIN! (LTC)Hello Traders! Litecoin continues to, of course, follow the bullish trail blazed by King Bitcoin. In our last analysis, we looked for two targets - $114 and $135. Our first target, has been hit :) Now, after the first smaller impulse wave on the 4h, we had a nice pretty 62% retracement. Most frequently, the 127% extension is the safest target for any retracement based trade. We have reached that. The reason that, I am posting a new chart here instead of updating the old one, is because I want to be able to retroactively view how we do react to the Fib Resistance Fan. So, now LTC is at the 0.618 resistance going by the fib tool. When BTC broke this level, there was a retest of it, as support, and we then got ANOTHER $1400 move up. At the time, that was about a 20% move. If LTC has a similar reaction to a breakout, we can expect this to push us straight towards our second target $135. Alternatively, if LTC DOES retrace here, I have placed a likely zone to look for more long opportunities. The yellow box there, is the 62% - 79% retrace zone for the CURRENT impulse wave. Just something to keep in mind, if we do start to retrace here. There are MANY targets much higher, of course, but with these analyses I am just focusing on the information swing traders are looking for. I will keep this analysis short, because truly, anything I have to say about what's going on lately, has been said in my Bitcoin analysis. Good luck traders! Previous Analyses:
COINBASE:LTCUSDLong
by vox-populi