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Relief Reversal for Bitcoin Is Almost HereHello all The past few weeks have been a very very tough for permabulls. After the historic liquidation session in May, an overwhelmingly bearish sentiment shook the markets and especially short-term paper handed b*tches. On-chain data was not too bright either, leading to the question whether it should be renamed to Ponzi-coin. Bitcoin was going to zero, or so the bears claimed. Then, the historical Bitcoin law passed El Salvador at LIGHTNING speed, which led to a cascade of Latin American lawmakers expressing the wish to discuss Bitcoin in their respective parliaments. Also, MSTR announcing another 500 million of bitcoin buys helped to turn the narrative. Bulls rejoiced and here we are. For now, focusing on the current price action: Bitcoin has been stuck between in a descending channel between the 30k and 40k range, making lower highs with every attempt to break the 40k. Several test of the 30k demonstrated a strong demand zone, so every touch was met by overbidding buyers. The price action got stuck for a while in a symmetrical triangle, which broke to the downside. Bulls didn't allow it and the bearish momentum was broken until finally an inverse head and shoulders was painted. A newly formed demand zone at approximately 36k will be the launching pad for the coming right shoulder. Optimistic traders can look for long trades on a close over the neckline, but more conservative traders can add another major confluence, i.e. the resistance at 40.5k. Either way, risk rewards ratio should be acceptable. If the rocket turns out a dud, or bulls fail to break the 40.5k, will definitely mean more indecisiveness in the 37-40k range and even a revisit of the 30k. Then discussions on how to rename Bitcoin will resurface. If you enjoyed this, leave a like. Comments are welcome.
BITSTAMP:BTCUSDLong
by PumpyDumpy
3
Gold and DXY - What does 94+ imply? "Look for the arch in March"Gold has been in consolidation since the summertime highs. The fundamental picture for gold is the same and strengthening. Lots of noise about the rising dollar and the 'end-of-days' for precious metals. While there are many obvious cases for Gold fundamentals, we are often presented with the binary view (ST speculator noise) where DXY and GOLD have an inverse relationship. Instrumental correlation with gold in fact changes over time, for example since 2019 TLT and US10Y have been much more closely correlated with GOLD, but we won't dismiss the psychological impact of a rising DXY. So here is where I think we are based on past patterns. Looking for a rising DXY in a gold bull market phase takes us back to 2010, analogous to where we are now assuming (somewhat) symmetrical bull markets. This window shows a period of initial decline into support and then strengthening along with the DXY. This 181-day window for this phase to play out can be applied to where we are now with some success. From an initial turn-up of the DXY and the simultaneous drop from highs, we bottom this first decline in early March at NOV LOW levels. This test of NOV 30 LOWS in EARLY MARCH (1764 around the ~5th?) tests the 10yr arc support, before a similar rise of equal value brings us back to testing the summer highs and beyond. The DXY can continue to rise, which may initiate the sell-off into support before resuming the up-trend in spring into summer. I think this early March bottom is supported by the similar NOVEMBER/MARCH 2012 (Yellow) resistance tests at the same level, now flipped to support. I'm not a big believer in seasonality for gold, as much as I would say, CORN, but the NOV/MAR 1764 symmetry is noted! One concern with this may be that 94 on the DXY (above the yellow horizon in the lower pane) is a much higher, more psychological level than was present in 2010. A rise from current levels into and through 94 is marked out in purple April 2018 window by a similar selloff and eventual resumption. This is the most I've felt like writing here, maybe my presentation skills need to catch up with my thinking. But let's sum up by saying: "LOOK FOR THE ARCH IN MARCH" - March 5th 1764 support, bull off double bottom to test highs in July BONUS: This model gives an initial PT for OCT 2022 of 2648. But let's get through March first. Zoom out, chill out. Peace.
TVC:GOLDLong
by ptero1492
Bitcoin correction to parabola like in years past. The longer it takes to correct, the higher the bottom price will be. If the correction occurred this month, the bottom could be around $16k. If the correction occurred in February, the bottom could be around $18k-$21k. If the correction occurred in March, the bottom could be around $21k-$26k. This is assuming Bitcoin respects the parabola like it has in past Bitcoin runs. If it went below the parabola to challenge the bottom trend line, don't expect a $100k Bitcoin this year as Bitcoin has historically followed the parabolic bull run line to peak at the top trend line in years past and would ultimately require a lot of investor confidence to climb back to new all time highs, imo. If it went below the bottom trend line, expect extreme panic and sell off.. but this won't happen though ;) Keep in mind I am not taking in to account institutional buying this bull run, strictly going off of what the chart implies. Best case scenario Bitcoin doesn't correct and we just go ham to the moon but this is unlikely.
BITSTAMP:BTCUSD
by Secret_Cervix_Agent
2
Microsoft ($MSFT) and Apple ($APPL) 💻 | New Highs for the Market🐮🖥️🐮 Apple and Microsoft are giants of tech and some of the largest holdings of the major indexes. If these companies run, not to mention the other tech giants like Facebook and Alphabet, then the markets will almost certainly run with them. Just look at the top 5 holdings of the S&P : Microsoft Corporation 5.68% Apple Inc. 5.60% Amazon.com, Inc. 4.26% Facebook, Inc. Class A2.16% Alphabet Inc. Class A1.68% Alphabet Inc. Class C1.68% Here are the top 5 holdings of the Nasdaq : Apple Inc. 11.83% Microsoft Corporation 11.41% Amazon.com, Inc. 10.25% Facebook, Inc. Class A 4.35% Alphabet Inc. Class A 3.88% Alphabet Inc. Class C 3.85% Here is the top DOW holdings With non-tech excluded (Microsoft is the 6th on the list, Apple is still #1): Apple Inc.9.14% Microsoft Corporation 5.07% It should be obvious to you now what we mean when we say " if these stocks run, then the market runs ." We mean, they are the biggest parts of the major indexes! This is good news for the bulls, because run is exactly what is about to happen based on historical trends. Some people seem to think that these tech stocks rushing past new all-time-highs perhaps signals the top of not only these companies but the market. In fact, we commonly hear this sort of sentiment every time it happens. Reality is just the opposite. The fact that these companies are breaking all-time-highs is actually bullish for them and the market as a whole. On top of that, the news is bullish for these companies as well (COVID aside). We have new iPhones, a slick new MacBook Pro, a new Surface Duo, and a declaration against Face ID for Microsoft. In short, there is nothing really substantial to bring these giants down aside from the broader market, but again, it is more likely they bring the market up. Don't take our word for it though, the historic patterns are clearly illustrated on our charts. On the charts, you can see yellow horizontal lines marking off each new high. You can clearly see that the longstanding pattern is that breaking a new high is bullish for both Apple and Microsoft (with this being true in spite of any bearish disbelief). In summary, breaking all-time-highs with conviction is bullish for the tech giants, which is bullish for the markets. So after that last break, our only questions are "when" and "how high?" Resources: www.etf.com + www.forbes.com + www.forbes.com + www.foxnews.com + mspoweruser.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉
NASDAQ:AAPLEducation
by AlphaBotSystem
BTCUSD - Glass half full approachCOINBASE:BTCUSD is having a rough few days. Price is dropping hard and it seems there isn't a consensus of where support will come in. I'm not willing to take a position just yet, but I do want to say that having the RSI already at historic low levels is a bad thing on the daily chart, it does represent some improvement. The major drop from 6k to 3k had RSI reach record daily low levels never before seen in Bitcoin history. Do I think this dump will produce worse RSI levels than the dump at 6k? Most likely not. While we have consolidated for several months and broken down out of the consolidation that does not mean this may not end up being a great dip-buying opportunity. As stated, the RSI is historically oversold, however, in the past, RSI typically doesn't stay oversold long for Bitcoin. The dump for the 6k consolidation that took nearly a year was the lone exception. I'm not convinced we stop and turn around here, because downward momentum on the weekly charts is hard to ignore. However, I will be watching for a potential divergence forming on the RSI on the daily charts if this break down is not bought up swiftly soon, and I imagine it won't. Certainly worth me keeping my eye on. DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
COINBASE:BTCUSD
by BigBitsIO
EURBGP makes history, easy shortEURBGP makes history, easy short I’ve went back to 2000 and looked for any periods of time where the EURGBP has had more than 12 consecutive daily candlesticks where the Open was greater than the Close. Never. In fact, the most I found was 7. So this is a pretty extended move in time. And it’s a straight up parabolic rise as well. This is very much what Gann would have called a ‘blow-off’ move. Almost the entire move has been on lower daily volume (exception being the 21st). The RSI and Composite Index are also at historical highs and showing similar structure in their peaks. This pair is bound for nasty mean reversion trade with at least a 50% retracement.
Short
by itsjustanalysis
11
BTCUSD IDENTICAL historic eventsWe know that historic events are good indicators for future events. However, they do overlap sometimes due to human psychological behaviour. Before we had this drop, I showed you one identical event. That event was replicated and we had our drop. So, I went hunting for another similar event. In this chart, you can see the candlestick chart pattern drawn on the past BTC price action (18 Sep 2018) and on our current BTC price action. You can compare chart patterns, candlestick patterns, RSI, StochRSI, Ichimoku Cloud, BB, 200MA etc. They all look IDENTICAL. On the right side, BTCUSD is currently forming a triangle which is bearish IMO. I am still trading this range, which I think will break soon. If the above does not play out SHORT TERM, we are likely to form an inverse BART SHORT TERM, which means price action will still go up. IMO.
BITSTAMP:BTCUSDLong
by Kuaji
August 2018: ONLY IF history repeats itself in this way...UPDATE based on last post: Using the 2013 to 2015 time-frame extrapolated into this wave's similar but shorter span, we should re-touch the previous all-time-high (approximately 19,500) by end of August or early September 2018. (Again, this is ONLY if history repeats itself) Recall from my last post: We keep seeing mirror images of the 2014 bear market playing out now. But what if (just if) it has indeed played out, but a bit differently from the common mirror images we've seen? As in this? *I know it's a long shot, but never know! (Isn't all TA long shot?) *As you can see from my recent days' posts, I have both bull and bear scenarios, this is just a bullish possibility... (so in a way "yes," TA doesn't predict) *ONLY IF this is true... that would explain the chop-chop limbo we're in right now. You'll notice that the 2014 reversal wasn't "dramatic" or quick or powerful... but a very gradual chop-chop till it reversed.
BITFINEX:BTCUSDLong
by junkofdavid2
2
Last 3 market crashes compared"What just happened?" Is the most common question people is asking their brokers. The answer: Nobody knows exactly. The market just crashed like in 2015, 2011 and 2010. Here is a comparison of the latest 3 flash-crashes: 18 August 2015 1 August 2011 6 May 2010 Even while past data suggests a price bounce, bear in mind that the sell-off could continue in the next days. --- "Know what you own, and know why you own it" - Peter Lynch
AMEX:SPYEducation
by adelriosantiago