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AUD/USD - Trading OpportunitiesWhats up traders, I hope you are all having a good start to your trading week. Here we have AUD/USD on the 4H chart. Price has recently been rallying up to the resistance zone between 0.7670 and 0.7700. Price is currently sitting in the resistance zone with bullish momentum. Will it manage to break out the resistance zone highs in this move? At this present moment, there is 2 primary outcomes I have in mind for the AUD/USD trade. Price will either break the resistance zone and setup for a potential rally, or correct, and have a later move. The likely trading scenarios are: - Price breaks horizontal resistance zone 0.7700 and rallies to the upside. We can either seek entry aggressively on the resistance zone breakout, or we can wait for a price correction so it can retest the previous horizontal resistance as a new horizontal support. - Price fails to rally out of resistance zone, and has a short term correction before the breakout. If this happens I will be watching for a bounce in the consolidation zone (The price zone just below the current horizontal resistance) before seeking another buy set up. I am expecting the breakout of the horizontal resistance to occur, and I will be waiting for the retest at the horizontal support level before the next buy set up. But if this doesn't work out, I will be using my alternative scenario as seen above. I will be keeping a sharp eye on AUD/USD next week. I will be updating my Bitcoin post if this idea achieves enough likes.
by TomProTrader
4
ETH/USD - Trading OpportunitiesHello traders, Here we have ETH/USD on the 1H chart. ETH/USD appears to be ready for an up move. Ethereum 1.28% has been trading sideways for a while. Recently there has been signs of hidden bullish momentum at the resistance zone at 767.80. If price breaks the resistance zone , it is a buy opportunity. It appears ETH/USD is now ready for an upside pop soon. Price is showing a very nice rounded bottom at the resistance zone , and is showing strong reversal candlesticks . The rounded bottom at resistance indicates that price action could have the necessary momentum for a breakout of the resistance zone . If price successfully breaks and closes above the sidewards resistance line at 767, I am expecting an up move to the upside target of 838. Bare in mind that price could retest the lows before the up move if it fails to break the resistance zone in this move. I will be updating this analysis and providing a realtime buying signal if this gets 40 likes.
BITSTAMP:ETHUSD
by TomProTrader
35
USD/CHF - Sell OpportunityWhats up traders, I hope you all had a wonderful Christmas and are now refreshed for a fresh week of trading. Here we have USD/CHF on the 4H chart. USD/CHF has been in a gentle downside correction move after the strong upside rally that previously went up to 0.9960. Price has been having a gentle downside correction ever since, and I am expecting price to have a down move and a bounce soon. After this correction finishes, there is a possibility of a bounce, which could be a good up move opportunity. Price is currently at a side-wards resistance level at 0.9890, and price has began to show reversal candlesticks . The candles could suggest a change of command from the bulls to the bears, and I believe the bears could potentially capture this move if the next few candles get the better of the bulls. If price fails at the current side-wards resistance at 0.9890, price could move down to one of the support zones outlined on my chart. If price begins a reversal at the current resistance , I am expecting a corrective down move to the structure target of 0.9830. If price breaks down and hits the second support zone on my chart, I am expecting price to move down to 0.9730. For those of you who use indicators on their charts, there is also a compelling bearish divergence on the Stochastic indicator. This strongly supports the down move in my analysis. I will be updating this analysis if it exceeds 30 likes.
Short
by TomProTrader
1
XRP/USD - Buy OpportunityHello traders, Here we have XRP/USD on the 1H chart. XRP/USD has had a correction move, after a long term upside rally, which I predicted in my previous analysis and we got the move (See my related ideas for details of this analysis) After the downside correction, it appears XRP/USD is ready for a new up move. Since price has hit a strong structure support , there has been signals of downtrend slowing and reversal candlesticks showing bears are losing steam. The candlesticks are showing the beginnings of a change of command from bears to the bulls. I believe that price has found a true bottom. If so, this can be a great launch pad to consider buying XRP/USD to the upside . I am watching XRP/USD closely, and won't hesitate to make a buy if it sets up properly. I am expecting an up move up to begin, to reach target of at least 1.2520. If price successfully breaks side-wards support at 0.9950, price could extend further to the highs. If price does not succeed in breaking the sidewards resistance, then price could retest the horizontal support zone at 0.8810 before another bounce and a move to the highs at a later stage. If the second alternative plays out, I will be updating this analysis accordingly. In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis. I will be updating this analysis if it exceeds 40 likes.
BITSTAMP:XRPUSDLong
by TomProTrader
59
LTC/USD - Buy OpportunityWhat's up traders, Here we have LTC/USD on the 4H chart. LTC/USD appears to be ready for an up move. Litecoin has recently been in a gentle downside correction after the strong up move previously. Since then, I have been watching for levels for it to bounce. It appears LTC/USD is now ready for a nice up move. Price recently retested a strong horizontal support zone at 244.00, and showed strong reversal candlesticks at the lows. This indicated there could be sufficient momentum to break the sidewards resistance at 271 and break to the upside. If price successfully breaks and closes above the sidewards resistance line at 271, I am expecting an up move to the upside target of 364. Below I have posted my other Cryptocurrency related ideas. I would appreciate it if you could view my other content an leave a like. I will updating this analysis if it exceeds 40 likes.
BITSTAMP:LTCUSDLong
by TomProTrader
62
BTC/USDT - Current Level Is KeyHello traders, I hope you're all having a wonderful Christmas. Here we have BTC/USDT on the 12H chart. BTC/USDT has been in a correction move since the long term uptrend. More recently price has bounced on a key horizontal support zone at 11980, and is now bouncing a second time at this level. Price could consolidate at this support. As it stands, it appears that BTC/USDT is ready for an up move. Price is not only at a horizontal resistance, but is also at a point of Fibonacci key retracement support. And there is also a Fibonacci support confluence! This means that BTC/USDT is currently trading at a major support level. This in itself is no guarantee of a up move, but, it does tell us one thing. If BTC/USDT is able to break below such a strong support, what does this say about the trend integrity of Bitcoin? It could tell us BTC/USD is obviously quite weak. I am expecting an up move eventually. It may well break below the current support and go to the lower support zone at 7550. But as mentioned above, if it breaks the current support zone it does say a lot about the true strength of Bitcoin as a whole. I now think, a break below current support says not only a lot about price, but a lot about investors psychology and investors sentiment towards this Cryptocurrency. All bets are off for a long term uptrend if such a monumental level is broken, as it is basically an agreement that the uptrend will stay in place.
by TomProTrader
25
BTC/USD - Signs Of MomentumHello traders, Here we have BTC/USD on the 4H chart. BTC/USD has completed a correction move recently, and has since began rallying to the upside, which I predicted in my previous analysis and we have got the move (See my related ideas for details of this analysis) After the upside pop, I have a slightly different perspective to my analysis. Since price broke to the upside, it has met a side-wards resistance at 14620. The candlesticks are showing strong upside momentum, and there is a good chance price has the strength to breakout. This isn't to say it is a guarantee of a new up trend, but is certainly reassuring after the big drop seen in Bitcoin recently. I believe that price has found a true bottom, that BTC/USD will eventually break out to the upside, breaking the sideways resistance, and going back to it's upside again. There is 2 ways this trade will play out, I have outlined these below: -Price successfully breaks the side-wards resistance at 14620, and travels to the upside. This scenario would be much preferred if price successfully retests the side-wards resistance level as a new support. It would be even better if price successfully retests the resistance channel, and the horizontal support zone highs at 13150. If price confirms at both support levels, this will be a much more reliable up move if it retests both support levels, rather than just 1. -Price stalls at the side-wards resistance level at 14620 and retests the horizontal support zone before eventually breaking the side-wards resistance at another time. In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis. I will be updating this analysis if it exceeds 40 likes.
BITSTAMP:BTCUSD
by TomProTrader
33
BTC/USD - Retest Of StructureWhat's up traders, Here we have BTC/USD on the 4H chart. BTC/USD has completed a correction move recently, and has since began rallied to the upside, breaking our previous side-wards resistance at 14780 and giving us a nice profit (See related ideas to see previous analysis.). Price has now found a secondary secondary resistance channel, and I am expecting a new pop to the upside. Since price broke to the upside, it has once again retested the horizontal support level. Price has now formed a double bottom on the 4H chart. I believe price could have a double bottom here, and a break of the newly found side-wards resistance, would also simultaneously break the doublt bottom neckline. This could be a good launch pad for further upside. There is 2 ways this trade will play out, I have outlined these below: -Price retests the horizontal support, rallies and breaks the new side-wards resistance at 14500. Price breaks the resistance and retests resistance as support before the new up move. -Price stalls at the side-wards resistance level and retests the horizontal support zone, before an up move later. In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis. I will be updating this analysis if it exceeds 40 likes.
BITSTAMP:BTCUSD
by TomProTrader
13
BTC/USD - Levels To WatchWhats up traders, I hope you've all had a good trading week. Here we have BTC/USD on the 4H chart. BTC/USD has been having a strong downside correction move after the strong upside rally previously. Price has been having a strong correction which has been highly extended, so now I am watching for levels for it to bounce. After this correction finishes, it will be ready for a nice up move. Price is currently at a key horizontal support zone between 11900 and 12800, price has began to show a potential reversal candlesticks. The candles could suggest a change of command from the bears to the bulls, and I believe the bulls could potentially capture this move if the next few candles get the better of the bears. If price fails at the current horizontal support zone between 11900 and 12800, price could move down to the lower support zone between 7400 and 8300. If price begins a reversal at the current support zone, I am expecting an up move to the structure target of 15800. If price breaks down and hits the second support zone on my chart, I am expecting a bounce to at least 12000. I have posted my other recent Bitcoin posts. I recommend looking at these so you can understand how I have came to my current analysis. I will be providing the realtime buying signal for this trading plan in the "updates" section of this idea, if this post receives over 50 likes.
BITSTAMP:BTCUSD
by TomProTrader
46
EUR/USD - Quick Up MoveHi traders, a quick one to post whilst the trading day progresses. Here we have EUR/USD on the 1H chart. After EUR/USD had a short term correction to the downside, I am now expecting an up move to my upside target of 1.1850. Me and my private FOREX signals channel have been long in this trade since 1.1780, so we are already almost 40 pips in profit with this up move. It appears price is moving in a 3 wave pattern. So I achieved my target by measuring the first impulse, and then I copied the first leg to create the second impulse move. I will be updating this analysis as it progress. Feel free to connect. :)
Long
by TomProTrader
BTC/USD - Bottom FoundHello traders, Here we have BTC/USD on the 1H chart. BTC/USD has had a correction move, after a long term upside rally, which I predicted in my previous analysis and we got the move (See my related ideas for details of this analysis) After the correction, it appears BTC/USD is ready for a new up move. Since price has hit a strong structure support, there has been signals of downtrend slowing and reversal candlesticks showing bears are losing steam. The candlesticks are showing the beginnings of a change of command from bears to the bulls. I believe that price has found a true bottom. If so, this can be a great launch pad to consider buying BTC. I am watching BTC/USD closely, and won't hesitate to make a buy if it sets up properly. I am expecting an up move up to begin, to reach target of at least 18910. If price successfully breaks side-wards support at 18910, price could extend to it's extended target at 21330. I have achieved this target be calculating the long term bull impulse leg, and applying it at current price bottom, whilst assuming price has hit a true bottom. Bare in mind, if price achieves the extension target, I believe this will be over a fair period of time. Price is still in jumble, and I expect the up move past the resistance structure to take some time. In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis. I will be updating this analysis if it exceeds 40 likes.
BITSTAMP:BTCUSD
by TomProTrader
49
GBP/NZD - Sell OpportunityWhats up traders, Here we have GBP/NZD on the 1H chart. Price recently had a correct up move after an extended down trend, and has hit a historical support between 1.9200 and 1.9250. Since price hit this level, price been showing signals of weakness. Prior to seeing price hit the horizontal resistance zone, price tested the sideways resistance channel. This was a sign of strong weakness. With this in mind, if price retested the horizontal resistance again, it would be a great short. This is exactly what has happened, and we tested the channel resistance, horizontal resistance, and also saw a double top set up. I am expecting price to begin a down move away from the resistance zone, to a downside target at around 1.9050. Due to the multiple resistance levels, the candlestick behavior at the resistance zone, and the resistance on the 200 moving average, this could be a strong down move. I will update this analysis as it progresses.
Short
by TomProTrader
2
BTC/USD - Further UpsideHello traders, Here we have BTC/USD on the 1H chart. BTC/USD had a correction move, after completing a bullish move up to the first target at 19380, which I predicted in my previous analysis and we got the move (See my related ideas for details of this analysis) After the correction, it appears BTC/USD is ready for a new up move. After price hit a Fibonacci key retracement support level at 18910, price began to show reversal candlesticks. The candlesticks are showing a change of command from the bears to the bulls, and I believe the bulls have captured this move. I am expecting an up move up to the upside target level of 21000. I achieved this target by calculating the previous bull impulse leg, and then replicating a measure move, thus having a target zone. I will be updating this analysis if it exceeds 40 likes.
BITSTAMP:BTCUSDLong
by TomProTrader
80
GBP/USD - Trading Opportunities AheadWhats up traders, I hope you are all having a good start to your trading week. Here we have GBP/USD on the 4H chart. Price has recently been rallying since price bounced on the structure support zone at 1.3300. Price is now approaching a side-wards resistance level at 1.3430. At this present moment, there is 2 primary outcomes I have in mind for the GBP/USD trade. Price can either carry on past structure resistance or break down for a correction. I have more specific information about each trade outcome below. The likely trading scenarios are: - Price breaks side-wards resistance structure at 1.3420 and carries on to the upside. If this happens, it will show bulls have strong control over the pair and we want to be buyers. I will want to see a retest on the side-ward resistance turned support structure before I considered a buy in GBP/USD. - Price completes a move to side-ward structure at 1.3420 and has a correction down move, before eventually breaking the side-wards resistance structure. This scenario would show GBP/USD to be slightly weaker than the above scenario (as it failed to breakout) but a correction within structure is natural,. It just means we might have to wait a little while longer to get the side-wards resistance breakout and the buy opportunity. A down move before a breakout might signal that a correction is required to confirm and create the necessary momentum for a structure breakout. So either scenario, GBP/USD deserves a place in the watch list. I will be keeping a sharp eye on GBP/USD throughout the week. I will be updating this idea in real time if it exceeds 20 likes.
by TomProTrader
2
Ethereum - Bullish GartleyWhats up traders, I hope you are all having a good weekend. Want to start by congratulating anyone who followed by BTC/USD trading idea that I posted yesterday. We successfully got a 1300 move from the idea. I have also posted many other BTC/USD ideas recently that have all profited too. I recommend taking a look at my previous Crypto currency analysis to keep up to date. Here we have ETH/BTC on the 2H chart. Price has recently moving to the downside. Price recently tried to recover from a correction after a bullish impulse leg, but has stalled under bearish pressure at 0.040970. Since then price has been breaking down to the downside. When it began breaking down, I began analyzing the ETH/USD chart, to find some good buy opportunities. Upon analyzing Eth/USD on the 2H chart, I discovered there is a potential Bullish Gartley Pattern in play. As it stands, price looks like it has completed the C leg at 0.040970, and has began falling. In order for this pattern to complete, we need to see a final down move to the D leg. Once we have a move to the D leg, the Gartley pattern completes and we will have a buy opportunity. I am expecting a down move to continue from the completion of the C leg, down to the D leg at 0.03050. After this, I will be looking for the buy opportunities.
Long
by TomProTrader
17
BTC/USD - Buy OpportunityWhats up traders, I hope you have all had a good trading week. Here we have BTC/USD on the 2H chart. Me and my private Crypto currency signals group have already been active in this trade since around 16400 and we all got out at 17800, so I have already monetized on this breakout move. Now I am expecting even more upside, to create another profitable move. Recently, price has been in a consolidation area. Price has recently picked up some momentum, breaking out of the consolidation range. When analyzing the 2H chart, it appears that BTC/USD is going to have a move to the upside. I believe that price will now continue to the upside, to my upside target of 20175, but before this I am expecting price to have a correction move to retest the previous horizontal resistance at (16500 and 17600) as a new support level. This trade could play out in 2 ways, I have outlined them below. -Price continues to rally to the upside to the upside target of 20175. Bare in mind if this plays out that there will likely be some corrections on the way to the upside target. -Price may retest the horizontal resistance level turned support in between 16500 and 17600 before the new up move.This scenario would be the preferred trading plan because a retest on the horizontal support indicates we have a launchpad for higher move. I am excited to see how this trade plays out. I think we could get a nice few up moves in this pair before Christmas. I will update this analysis as the trade progresses.
BITSTAMP:BTCUSDLong
by TomProTrader
11
EUR/CAD - Sell Opportunity On BreakoutWhat's up traders, I hope you are all having a good trading week so far. Here we are analyzing EUR/CAD on the 4H chart. Price recently had a downside impulse leg, and has since been correcting to the upside. Recently, the correction has slowed, and has gone more range bound, implying a loss of steam from the bulls. Knowing this, I put EUR/CAD straight onto my watch list (Knowing there was localized structure right near the level price was currently trading at) and have been watching for a set up. When I analyzed the 1H chart, it was then I discovered the sideways support channel which is encapsulating the correction. With the above knowledge, I realized one way to get into this short is to find a way to know that the long short term uptrend (The corrective upside leg) was definitely going to stall, and I needed to know also when price has officially broken this temporary uptrend. How do I do this, you ask? How do I determine when the price has officially broken this temporary uptrend? I use the sideways support channel as my indication if the short term correction up trend is finishing. Why? Because if the correction has been bouncing on support, then if it breaks, obviously the short term trend has expired! How can I determine if the temporary up trend is definitely going to stall? If you see the above analysis, you will see price hit a key Fibonacci retracement resistance level, and price has extreme weakness when it hit this level too, so this confirmed to me that this level is obviously a hidden resistance level. Further that the down move was so eager due to the massive rejection Doji told me that price was thoroughly exhausted at this level. It was likely to stall. I am expecting EUR/CAD to break the channel support level at 1.5120, and have a down side move to my target level at 1.4770. Bare in mind that price may retest the support channel as a new resistance before the down move begins. Also bare in mind that the target we have is a measure move of the previous impulse leg, making it a 3 wave move. Also, the 3 wave move coincides with previous price action structure support back in November.
by TomProTrader
7
LTC/BTC - Critical JunctureWhats up traders, Here we have LTC/BTC on the 1H chart. Price recently had a big upside rally, which has caused quite the hype in Litecoin. This is a coin I have analyzed closely since it's inception as all those who follow me will know. Looking at the 1H chart after the rally, it appears price has gone into a consolidation zone. It is gone into a very tight range since then, and now we are waiting for the move which answers the big question - Is price going up, or is it going down? Although I am not sure exactly yet. I would probably put my money on the downside. Saying this, I will always trade what I see and not what I think. Price is in a major juncture here. Whichever way price goes, it will be with an explosive move. So it's important we have some rules to safely trade Litecoin as it leaves this area of consolidation. Below I have outlined the 2 outcomes for the pair. -Price will break the support zone between 0.01784 and 0.01666 and have a steep downside correction, most likely hitting previous structure support at 0.01448000, or if the move is highly explosive, the correction to go to the steepest structure level at 0.01036000. When this mvoe completes we will look for the buy opportunity afterwards. -Price breaks above the sideways channel resistance at 0.01880000 and the horizontal resistance at 0.01980000. Once this happens there is a possibility of a strong up move which could see us go into the high 0.020000000's. Bare in mind- that whichever scenario plays out, I will be looking for the long opportunity after the move has completed regardless. I have posted my other recently posted CryptoCurrency ideas below. Please leave a like.
by TomProTrader
13
OMG/BTC - Opportunity To BuyWhats up traders, Here we have OMG/BTC on the 4H chart. Price has been having a nice up move since it had an oversold leg. Buyers have taken the opportunity to buy the oversold at the bottom and hold for a retest of at least the structure resistance at 0.00076000. On the 4H chart, price had a clear correction to the Fibonacci key retracement support at 0.00063500, and since has been up moving. Price looks like it is in a 3 wave minor move, with the correction at the resistance channel. So we have a target that makes logical sense. The recent bottom was clearly accumulation (A trend bottom and sideway movement in a tight range before an explosive move), and I plan to monetize on this with this trade. For now, the pullback has been the earliest opportunity to buy into what looks like the beginning of an at least intermediate term uptrend. I will be updating this analysis as it progresses.
Long
by TomProTrader
5
BTC/USD - CorrectionWhats up traders, Here we have BTC/USD on the 4H chart. I had so many people messaging me today, and each message said just about the same thing "Why aren't we long now?" "Price is moving near top of resistance zone, why are we not in?" "Bitcoin is going to break highs and we will miss the move". This is something I hear often and my answer is simple... Just because something looks like it is ABOUT to happen, it doesn't mean it is. Too many traders have the "roulette" mentality. What I mean by this is, in Roulette, most people (if they get a 0 for example) will now believe a higher number is coming due to them believing the game is run of some type of belief system. They are trying to predict the future with thoughts that do not made any statistical sense! It is the same with trading, just because price is nearing the resistance break, so what? It doesn't mean it's going to break to the highs, it just means it is moving up in a zone I consider non significant until broken. The risks of buying in a resistance zone are immediate. You risk buying into market noise, and not momentum, it turns around and we're out. The moral to the above is: Just be patient. What is meant to be, will be. And if you add this moral to my number 1 trading rule: "Trade what you see and not what you think" then you will become a much better trader just by taking this small piece of advice. Disclaimer: I am not claiming that price will not break out from where price is now (I even predicted this is my previous analysis). For this idea I am just focusing on what to do if the correction DOES occur, and this idea fully supports scenario 2 of my idea publish made yesterday. (See my related ideas below for my previous BTC/USD analysis. Going forward, BTC/USD looks like it is correcting at least for the short term. Price initially had some upside move, but this move lost momentum as it approached the peak of the horizontal resistance zone at 17550 to 16630. I am now expecting price to hit this level before a nice upside move. Will price break out of resistance now? Or will it correct to the above level and correct? We will soon find out. Will be updating this analysis if it gets enough attention.
BITSTAMP:BTCUSD
by TomProTrader
13
EUR/AUD - Quick LongWhats up traders, just a quick analysis as I was passing by my charts Here we have EUR/AUD on the 1H chart. Price retested a crucial long term support zone, and successfully bounced. When we analyze this chart on the hourly, there was a nice candlestick reversal set up, the sort of set up that indicates a nice reversal. I am expecting price to to trade to the upside in a new bull impulse leg. The likely target will be 1.5760. I will update this analysis as it progresses.
Long
by TomProTrader
2
USD/JPY - Continuation MoveHi traders, I hope you are all having a nice weekend. Here is a nice trade for next weeks trading. Here we have USD/JPY on the 4H chart. Price recently had an impulse up move, and then an downward correction. The downward correction stalled when price hit the Fibonacci key retracement support level. With this in play, and knowing that we had a previous impulse leg beforehand, it is clear we are in a 3 wave up move, and that this corrective pullback is merely a pullback before the next up move to our target level of 114.40 When analyzing the pairs behavior after the long term downtrend, I discovered that price has only just broken out of a downtrend channel. The resistance channel would indicate down trend was persisting, but since we did not only break the level, we had an impulse leg out of it, it is clear there is strength in this pair, and there is a reason it is rallying. ^ This does not happen by chance. It happens for a reason. Trade what you see not what you think! Bare in mind that price could have a retest on swing low before the next move up, at around 113.30 to 113.10. I have added my other recent FX ideas into the related ideas section of this post. I would appreciate it if you could view my other FOREX content and give it a like as this motivates me to post more content. I will be updating my analysis. Any questions, feel free to connect.
Long
by TomProTrader
BTC/USD - Buy Opportunity Is NearWhats up traders, Here we have BTC/USD on the 4H chart. Price recently began a corrective move to the downside after a strong upside move. Since price has been correcting, there has been a gentle down move which I suspect will not have much steam behind it. At this present moment, there is 2 major levels I have in mind for BTC/USD for a correction. We would prefer see the correction higher as this increases the likelihood of the up trend continuing, and I have a few areas in mind. I am now putting my bets on the correction ending at latest, at 14495 The correction levels I am expecting price to hit are: - 15170 - This is the preferred correction level as this would mean price was supporting on the 20 moving average. On the previous large cyclic move, price supported on the 50. This support on the 20 moving average implies that price could be preparing for the up move, using the 20 moving average as a launch pad. - 14350 - A correction to 14350 would be the most likely in terms of probability and trend integrity. 14350 is the level which coincides with a sideways support channel and also a key Fibonacci support retracement level. This would be an excellent launch pad for price action to prepare for the new big up move. A move to 14350 would be a steeper correction, but it would retest a major structure level at the same time. I personally want to see price land on the 20 moving average and get aggressive (Which might be possible with Bitcoin futures around) but I won't count on it. I will watch the chart and trade what I see and not what I think. I will be updating this analysis as it progresses.
BITSTAMP:BTCUSDLong
by TomProTrader
15