Bitcoin: Correction PhaseHow is everything doing lately? The crypto market have been very hot lately with bitcoin on a killing spree. However, not every spree last forever. Especially if what it was offering before, B2X coins, are no more. We should see Bitcoin correcting itself to previous level before the event. Money will start flowing back into alt coins, making Bitcoin correct to a fairer price. Now I am bullish on Bitcoin long term, but I do believe a healthy correction to show support and demand is needed to sustain this growth. If you have been watching my videos on youtube. I explained why I am bearish on bitcoin for the short term and my prediction of what just happened before it happened.
Bitcoin finished it 5 wave structure already, completing an overall big 1st wave. We are now entering phase 2, which will be a correction leading up to the biggest run we are about to see in history. It just happens the biggest run is now potentially having institutional money involve in 2018, further signaling a big run soon. All in all, be prepared. What are your thoughts?
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EURUSD potential short playIt has been awhile, but I am back to post my next potential chart setup. There is a potential for the downtrend to continue with the euro (nickname fiber) if it closes on the daily chart below the drawn support line. The likelihood will also be based on trading during a time that I don't usually trade, which is during various fundamental announcements, since it is the beginning of the month. Happy Trading
CVC - possible scalping opportunity or a decent price to hold
The price has potential to touch the zone below 0.000105 with a wick in around 24 hours, but at the moment isn't showing signs of going steadily underneath it. Therefore, careful traders may want to place an order around that number to ensure a buy in case the price bounces off that area instead of going further down. Since the market is in range, this prediction is based mainly on the decreasing on volume balance. As far as technical analysis goes, bit price hikes or dips are not expected.
There are no pending announcements or meetings for CIVIC, so I don't expect the price to soar, but a good short-term trade possibility may be coming. Alternatively, this may be a good buy-in price for a long-term hold that is close to the current resistance and support lines, which should enable you to liquidate quickly at minimal losses or profits, shall the need arise.
That said, staying away and watching the market for the next 48 hours is not unwise, either.
Thoughts?
$BABA BABA staging a strong comeback like FB in 2012News from Alibaba ($BABA) spiked the stock higher. Some wonder if this is the time to short after all the stock has be up +140% since it's bottom back in 2016. However since the double bottom was put in last year, $BABA has been showing great signs of a stock ready to become the next big IPO that many will say in the future, "if only I had held on to my shares of ALIBABA back in 2017 when it first began going on. This is history in the market. Unless the stock closes below $120 in the next few months, this is a long term stock to add to any portfolio
NXT, Buy the Blood!NXT has always been an interesting coin. Many people do not know about nxt because it has been asleep for so long.
This is all about to change. nxt.org
Nxt has a relatively low market cap. It certainly deserves a place in the top 10, and that is where it is headed.
Technically, Nxt just broke a long term trendline. Above 3300 satoshi is where the real fomo begins, but I bought on the trendline retest. This will be a 3x + move.
It is clear, especially with the launch of AlphaB coming to LONGThe Securities and Exchange Commission (SEC) has considered prospects of a possible ETF for Ethereum (ETH) which has put ETH in a position of exponential growth. Along with many projects and ICO's committed on Ethereum's chain, growth should be expected, and shorting should only be followed for a small bounce of 1-3 points. I expect from when I publish this (ETH:80.01 USDCEX.IO ) Ethereums position will increase by over 6 points within the next 12 hours.
COT signal directional change for coffee?Looking to trade coffee long with stops under previous cycle low for conservative risk. Target upper TL , allow for fluctuations of price with an accommodative stop management in order to achieve the desired target.
Dx looking for short term correctionDx is now at major support with confluence of fib level and TL. will we see short term correction and resume some dollar strength. Watch other markets such as eur, chf, jpy and gbp for USD strength.
EURUSD Bulls Finally Did It. Break 1.0635 Area.The EURUSD bulls finally did it. After several failed attempts to breach the 1.0635 area, Friday’s late session surge put the single currency well above the mark.
Yes, there was some profit taking into the close, but that isn’t abnormal especially given Friday’s 130 pip rally. At the end of the day, the pair still managed a close above the 1.0635 handle, which turns our attention higher this week.
With that said, there was a minor resistance level that came into play just before the weekend. The 1.0680 area has acted as a pivot of sorts since January 26th. It also played a role in capping the January 12th advance.
The tight range between 1.0635 and 1.0680 makes playing Friday’s break more difficult. Sure, you could buy on a retest of 1.0635 as new support, but a target of just 45 pips isn’t very appealing.
As such, I’ll stand aside for now and see what comes of last week’s breakout. The close above 1.0635 leaves me cautiously bullish for now, but I need to see more from buyers before I’m willing to consider an entry.
This Wednesday is the highly anticipated Fed rate decision and statement. The events kick off at 2 pm EST and are sure to stir things up for the U.S. dollar, so tread carefully if you plan to take on USD exposure. Also, Draghi speaks on Monday at 9:30 am EST.
Check the upside technical analysis.
Performed by analytical expert: Urban Stamcar
USDJPY Teeters on 115.10 Following NFP - Bearish Pin Bar However, with the 115.10 handle still intact, I decided to remain on the sideline. I also didn’t want to enter in front of yesterday's non-farm payroll report.
The 115.10 area has served as a pivot since January 6th. It’s also the 50% retracement from the December 2016 high to the current 2017 low.
So far, the reaction from yesterday’s events is mixed, and the jury is still out. The moments following the NFP report and average hourly earnings, market participants seemed to favor the U.S. dollar. But those gains were short-lived.
As is the case with any high-impact event such as NFP, momentum can shift in a matter of minutes. This is one reason I urge caution to those who like to trade market-moving events like these. In fact, the best course of action is to take no action until the dust settles.
Bearish pin bar from the zone 115.10, that was forming yesterday, can may pust a price lower to test a trend line at price 114.20.
Check the upside technical analysis.
Performed by analytical expert: Urban Stamcar
AUDJPY Breaks From Rising Wedge, Targets 85.35Just two sessions ago the AUDUSD carved out a bearish pin bar from support turned resistance. The trade has played out in textbook fashion so far, and now it seems the AUDJPY is following in its footsteps with some bearish price action of its own.
The rising wedge that extends from the December 2016 low broke down yesterday. These patterns often signal exhaustion and at least a correction of the current trend.
However, yesterday’s close at 86.08 leaves me watching for a selling opportunity on a retest of the area as new resistance. As mentioned last month, key support from here comes in at 85.35 followed by 83.73.
The upcoming CPI and PPI figures out of China at 8:30 pm EST could cause a stir. So you may want to keep these two events in mind if looking for an entry during the Tokyo session.
Check the upside technical analysis.
Performed by analytical expert: Urban Stamcar
USDCHF FALSE CHANNEL BREAK OUT1)Price failed to break and close above resistance zone @ 0.99040
+ triple top formed @ 0.99500 zone
2) False Break and retest of descending price channel
3) Daily support broken @ 0.98402 zone
4) Previous Daily candle closed as an bearish engulfing
5) MA's spiralling to the downside
adding confluence to bearish momentum
6) A break of the trend line will warrant shorts
7) Target 1 @ 0.95039 zone = weekly support giving extra confluence
GBPNZD CONTINUATION OF DOWNTREND?1) Double top formed @ Daily resistance @ 109523 zone
2) Downside shifts in MA's
3) Previous/ most recent daily candle closed below resistance level
@ 1.84228 zone, if zone holds + next daily candle close below zone
will warrant further shorts.
4) Target 1 @ 1.80041
5) Target 2 @ 1.76786 = Daily support zone giving extra confluence