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EUR/JPY, a trade that you could have easily captured The price has been dropping massively, but why? And how do we now where we have to sell or set our target? Well, looking at the chart, it can be clearly inferred that the price has. managed to create a Triple Top, which is a very solid reversal confirmation. The price dropped massively, consolidated a bit around the 129.7 area of support of an ascending channel, and then dropped massively once again. The target is set at the previous Lower Low
Short
by Investroy
4
BITCOIN, SOME CORRECTIONS BEFORE FURTHER UPSIDE MOVEMENTTake a look at this beauty, the price has been rising for around 10 days now. We are patiently waiting for the price to finally SMASH that zone of resistance and continue its path to Saturn. However, before we can break out of that strong area of resistance, the price should get some rest and fuel. It is kinda hard to tell when the price will finish retracing, but we can use the help of Fibonacci for that. We have plotted out the 0.5 and 0.618 Fib retracements on our chart and will be looking for BUY positions around those areas. Nevertheless, the price may even not reach those levels and pullback even earlier. All in all, our target is the moon, so let's HODL! Feel free to drop your thoughts and opinions in the comment section below
BITSTAMP:BTCUSD
by Investroy
21
BITCOIN, trading within a descending parallel channelAs it can be clearly inferred from the chart, the price has formed a beautiful parallel channel and is now located at the upper boundary of it. Massive wick rejections can also be identified, which indicates a weak bullish pressure around the area of resistance. We are now expecting the price to keep dropping and reach the area plotted on the graph. Feel free to drop your thoughts and opinions in the comment section below, family!
BITSTAMP:BTCUSDShort
by Investroy
48
BITCOIN, lack of bulls in the marketThe Weekly Candles show nearly no wicks to the upward, indicating that the bulls aren't fighting hard enough to reclaim lost ground. Given that this is the case during a major drop, it's a clear sign that purchasers are leaving the market in anticipation of further decline. The past two Weekly Candles have cracked and closed below a 7 WEEK-STRONG support barrier of $34,700, despite price rejecting beautifully off the $30,000 support level. It's a really exciting moment for the cryptocurrency market at the moment, with both upside and downside breakouts being equally likely as price consolidates. Do you think the bulls will fight back and reclaim the throne?
BITSTAMP:BTCUSD
by Investroy
24
BITCOIN OUTLOOK: WILL THE BEAST AWAKEN?Last week, we posted an analysis on Bitcoin and predicted this nasty drop that is currently happening. As we can see from the chart, the price is super bearish and there is no bullish pressure or there are no any signs of a bullish reversal as of right now. Traders and investors continue to panic sell and remain in hope that the price will start losing its bearish momentum so they can "Buy the dip" and "aim for the moon". 28k area is a strong demand zone. However, we doubt that we the price will start reversing as soon as it reaches that mark. Things could get really ugly if the price manages to break through that zone. All in all, we are staying out of crypto trading for the moment, as it is too messy and unpredictable. We are hoping that our favourite cryptocurrencies can gain power and reverse to the upside in the upcoming months. What do you think, family? We would be happy to hear your thoughts and opinions in the comment section below
BITSTAMP:BTCUSD
by Investroy
21