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EURGBPWe've had the weekly distribution schematic happening perfectly so far, now marking this up again I'll like to see the 2nd LPSY be made for our 1000 pip entry move to the downside which adds confluence of our GBP based pairs heading to the upside long term heading into the first few months of 2020. From that point on I expect EUR to then start to rise begging a bullish rally to the upside as I expect GBP based pairs to severly weaken heading into the end of 2020 as a markek crash is expected. #WyckoffSchematics
by jedahs
3
BTC- New trend in the development...? (sentiment, liquidity)BTC is off to the good start this year! Can it last though? I will spare you the head and shoulders bottom. Let's focus on the sentiment analysis because I think it provides important clues for the potential trend reversal. It is good that BTC broke out of the 6 months downward channel with above average volume on the daily timeframe and also managed to bursted through two resistance lvls in the process. Both are good indicators of potential trend reversal. This price move will be more convincing If the price can manage to close the daily above 8.2k to 8.3k On the fundamental side, Iran news and all-time high hashrate might have something to do with this price spike or it might be the pure technical move. It is still too early to rule out the possibility of liquidity raid even though I suspect most of the shorts at this lvl have been taken out already during last year's Oct price spike. Quick glance at the latest COT report about CME futures indicates that institutional players are still overwhelmingly net short, which indicates the ongoing distribution process. I am waiting for the Bitmex funding rate's green bar to go higher, which could signal the potential bullish sentiment. Backwardation suggests that investors still believe that BTC price will keep going down. Again, bummer here. That being said, it is worth noting that all these sentiment indicators are lagging so it is better to check them again next week if the price momentum continues. I will pay attention to the open interest and volatility and be wary of any big orders in the orderbook in the upcoming days. IF BTC can manage to attack 8.8k to 9.2k and consolidate around that price range, then the bull reversal might be on the horizon. If the price stalls around 8k, it could be a good time to buy on the pullback. Oh! Iran just fired missiles to US bases! If you buy into the notion that BTC is the digital gold and is uncorrelated to the stock market (we could use more evidence on the correlation), then that is one more reason to be bullish on BTC.
BITMEX:BTCUSD.P
by Libratus
2
USDCADNFP & CAD news at the same time today, this pair is lookign very intereting to look at as the news hits. As we know, institutions use news as an excuse to move price to it's intended targets where they can mitigate out of or get closer to mitigation. We have an open order just below 31975 and also imbalance we could target for entry to the upside before we see a potential long term sell off. DXY also looking like a simialr set up which I have been anticipating for some weeks now. PATIENCE - CONFIRMATION - ENTRY - PROFIT
by jedahs
GBPCADI was expecting a bearish sentiment before a very bullish GBP market with Brexit & elections on our door step but it seems the GBP keeps rising which is scary in these uncertain times. This indicates to me a very big market crash coming in 2020 as expected with chart readings, housing market, interest rates, the usual market crash cycle and many other factors tied into this including Euro sentiments. Many of the other GBP Pairs also have a simialar outlook/set up which I may post analysis on shortly. PATIENCE - CONFIRMATION - ENTRY - PROFIT
Short
by jedahs
1