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BTCUSD Consolidation Breakout - LONGI am analyzing bitcoin on the Kraken exchange - XBTUSD. After the China ban on Bitcoin news on 9/8/17, the price of BTC saw a modest drop of ~13% from ~4676 to ~4139 (a previous support level). Since then, the price has held steady above this strong support. BTC has been going into consolidation and may soon see a bull break. My target entry will be between 4150-4200. Profit target 1 will be at the resistance of 4728 with a 2nd profit target just under the all time high of 4971. Stop loss should be set below 4100, depending on your level of risk. Trend reversal may be confirmed by a strong bull candle on the daily time frame. RSI will likely not be a good indicator here because of price consolidation, but stochastic RSI can be used. Please let me know what you think and happy trading!
KRAKEN:BTCUSDLong
by Kennfucius
XRPXBT - Kraken - Trend Reversal, or More Death?Hi, XRP has been in a downtrend for some time now, but also in some kind of descending wedge. I had originally designated the red outline/green box as a possible reversal zone. It has once again bounced from the 0.786 Fib Retracement level and it got close to an old trend support line (pointed green line), and now it's headed towards the downtrend resistance line. This could be the breakout in the making. The other possibility is that it's making another descending triangle, bringing another breakdown to the next support level (green box): Meanwhile, it has been scalper's paradise. I missed the entry at support, so now I'll wait for it's reaction at the trend resistance line. If I have the time, I will publish another chart for scalping once it approaches or something happens at that resistance line. Can't short XRP in Kraken, so I will only publish "Long" trades.
by orangestar4aC
XBTUSD - Kraken - Falling WedgeFalling wedge, plus Bullish divergence. Possible breakout. Possible good entries: - Pennant breakout - Pennant support - Trend support Target 1 - Red square Target 2 - 2700 - 2720 range/25.05.2017 ATH reference Mystery purple line - no idea if it will carry any sort of effect. References: www.babypips.com www.investopedia.com en.wikipedia.org THIS IS NOT A TRADING GUIDE. IF YOU TRADE BASED ON THIS CHART, GOOD LUCK!! I TAKE NO RESPONSIBILITY!!! THE OUTCOME IS ENTIRELY ON YOU!!!
KRAKEN:BTCUSDLong
by orangestar4aC
6
Bubble Popper?As I predicted in my previous post, my gut feeling was that Ethereum is worth about €150, which we are at now give or take. But if you have a look at the 4 hour chart you see a clear trend line for this downward "bubble popping" trend. Yes, there is an upward trend from the over sold recent new low but I consider this a correction up to the trend line. If this trend line holds true, then we are a bit over bought right now. And a sell off will start soon, so we go a bit under the trend line again, and so on.. I think the trend will continue to follow this line down to €100 or maybe even €50, which was a fair price before the bubble started to inflate. If you look at the Bitfinex and Gdax ETH/USD charts, there have been several attempts to break over $190'ish now, but all has failed. As I'm writing this, there are now a new attempt to break over the $190'ish resistance. So lets see how it goes. Now, I could of course be wrong, and this may be the reversal to a bullish trend. So we are clearly in a grey area right now. I am short over the long run though. But consider this, there have been no new positive news for Ethereum. Quite the contrary in fact, with all the problems the network has with big volume transactions such as with big ICO's for example. And now there is a competitor coming that is rumored to be the "Ethereum killer". This new blockchain is said to have everything Ethereum lacks and then some. Thoughts? Happy trading! :)
Short
by katakito
9
XMRUSD - Kraken - Will we have a Bullish Summer?This is a pure TA, looks to me to be a Bullish setup, at least a Bullish Channel from these last days heading for a breakout, provided there aren't any catastrophic crypto news coming soon. Marked some possible prices in Red where I think price could bounce, which once they are broken I will turn Green as Support giving more buying opportunities before breakout. Stop loss at 36.5 since I think there's a potential to break 61.70 during this month, or the following, with targets that I got with the Trend Based Fib in the 70-80 USD area, giving a R-R ratio of above 1.5, decent to me. MACD looks choppy right now, but as long as Channel Support holds I wouldn't care about it. Only trade what you can afford to lose.
KRAKEN:XMRUSDLong
by orangestar4aC