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Parabolic

ETH taking a breather on its 2020 parabolic tearToday's pullback in ETH, influenced by BTC's, looks to be a short rest before resuming a heavily bullish parabolic rise. Since January 1, ETH has exploded with around 130% gains. The rejection at the .718 Fib retracement level, which correlates with BTC's at its .618, is healthy as RSI was very overbought. After a recharge, I anticipate the rise will resume and find ETH back at its previous 2019 high by the end of this month. Continuing along this parabolic curve would find ETH retesting its all time high around the time of the BTC halving.
KRAKEN:ETHUSDLong
by defdwight
Will Ethereum rocket to $421.00 or pullback to $246.00 ?As a follow on from a previous analysis on Ethereum, we can see the 1st target at the rectangular blue box has been hit. ETH has pierced the fib level at 1.618 on the smaller fib retracement indicator and also the purple trend line shown by the green down arrow. We will wait to see if today's candle closes above both of these levels. If so, ETH could get to the fib level 3 @ $422.00 based on a theory I have with parabolic curves in past crypto markets. Was expecting a retrace at the 1.618 fib level ETH just pierced which would be in line with my parabolic curve theory. If ETH doesn't retrace the market usually propels to the 3 fib level without much resistance. The EMA 55 also just crossed the MA 200 shown by the red up arrow, which is also a bullish indicator. However, as always we aren't all one way minded and according to my curve (not the best at drawing parabolic curves I must admit) there is room for ETH to retrace back to the curve. Also, if you look at the RSI, the red horizontal line is usually the peak ETH gets to on this daily chart. ETH has hit this mark or close to it so a pullback is still possible. Today's candle will reveal which way ETH will go for now. Happy trading legends! HTBB Follow me on twitter or FB if you like.
POLONIEX:ETHUSD
by Pro_Trader_HTBB
SHOPIFY- land gracefully and REFUEL for more HIGH-FLYING ACTWho doesn't like the high-flying act? Sometimes, the proper rest is needed in order to soar even higher. Shopify needs a deep pullback in order to draw in more trigger-scary investors who wait on the sideline. Such parabolic movement is not sustainable with RSI hovers above 70 since early 2017 on the monthly timeframe. Only one red bar in the last 14 monthly bars... It needs to cool down a bit. For positional and long-term traders, check my pro & con list below. Give me a like and follow me if you find my analysis useful. Much appreciated :D Pro- Strong CAGR Dominate the e-commerce platform market by capturing the 31% market share Growing gross merchandise volume- The value of all products sold by merchants on Shopify’s platform Growing gross payment value through Shopify payment, creating an more integrated platform Strengthened the Shopify fulfillment network with the acquisition of fulfillment automation company Con- Square partners up with UPS Overvalued according to financial metrics (EV/EBITDA, P/S, P/E) High burn rate that prioritizes growth over profitability (Weak EPS) Negative free cash flow despite not heavily invest in R&D
NYSE:SHOP
by Libratus
2
#bitcoin - 3D, no reversal signs just yetHello there, it´s been a while since the last Bitcoin update. After we have broken the last massive Resistance Cluster around the Yearly Pivot ($8137 and P-Q also) and leaving behind the former corrective downtrend parallelchannel, we are now slowly reaching areas, that are significant again for Bitcoin´s further development this year. Fired also by many external factors, Bitcoin could be pumping up to the resistance of the well-known major triangle, before next decision point is meeting the next battle between fear & greed. Just to mention a break out now instead of testing the support leadline again, could be seen as absolutely pre-mature, hopefully not ending in a fake-out and decline. Patience is key. This ride has been initiated by the inverted Head & Shoulders as bottom pattern at the lower end of the former parallel downtrend-channel. Also Bitcoin has finalized the End-to-End (Ichi-Cloud) whilst now turning it into bullish favours. Can this be tested again? Certainly. To make sure you are aware of possibilities here (assuming you like to trail stops and rebuy lower) I have as usual tried to mark anything important to help you making your own decisions. There are currently no major since of decline just yet, so no acute reason to dump open long positions, it´s similar to ETH and Gold, try and let it ride, if you got in early enough. Best wishes and happy trading, Neru
BITMEX:BTCUSD.P
by Gl4diator
6
PENN-BARSTOOL become the face of all forms of legal gamblingThe current weekly chart is simply not parabolic enough for this partnership. The partnership of a generational media company already well versed in gambling combined with a brick and mortar casino company just blew the doors open. Current USA laws are now enemy number one for Dave Portnoy's bottom line. This will shift the tide of lobbying money behind the scenes along with already increasing numbers of how online products can increase brick and mortar numbers. Barstool sportsbook, barstool pizzerias inside casinos, barstool poker, barstool blackjack, the possibilities are endless with a battle tested following. This stock will quadruple in 5 years or less. First stop $50-$55
NASDAQ:PENNLong
by tigoee
1
Litecoin:BTC Push Through!Hello All, I am trying to be more consistent with my publishing and I wanted to post this since litecoin did break through the purple resistance. There was some sort of inverse head and shoulder, and it broke through the resistance, currently for the macro picture. it looks like it broke out of the descending channel in purple. This is really good as currently, it looks like litecoin is in a much larger descending channel and with the strong movements it had last run, I suspect that there will be a strong chance to reach the top of the channel which would be an approximate increase of 100% against bitcoin. I have marked all of the horizontal resistance regions with red rectangles (all of these areas are possible points of accumulation or reversal). Shorter Time Frame Analysis: In this image, there appears to be a complex head and shoulder, with two shoulders on the left, however, it is possible this left shoulder may not be symmetrical. If it is not, I would be suspecting strong moves through the resistance and a consolidation above it. If the left side forms a second shoulder because it is rejected at the resistance. I am looking for a retracement back to 6800 satoshi's. Best of Luck and Stay Technical! Previous Analysis:
by CuddlyCuddles
XRP holding strong with good supportMorning from sunny Arizona! Once again looking at the 4hr chart, we can see the 0.5 fib level created a lovely support for XRP at the .2340 mark. It has established a nice ascending channel which i believe XRP will follow until we have enough volume to make some sort of parabolic move. More so, we are well above the 200 MA which is very bullish in my opinion and most certainly establishing a long term trend reversal back to the long awaited bull market. Long way to go yet, but positive signs for HODLERS waiting to recoup their cash! Have a great day and an even better weekend.
BITFINEX:XRPUSDLong
by AZEB1A
2
Bitcoin Mini ExponentialHello All, For today, I wanted to talk about Bitcoins current price action. In my previous analysis of bitcoin we discussed the inverted head and shoulder and its price objective of 8500; in addition, I suggested that bitcoin would re-enter an uptrend. This analysis is a continuation of the previous, however, I will be analyzing shorter term movements. Keeping in mind the longer term objective, it does seem as if bitcoin is in a small parabolic move right now as the bases before each upswing is gradually reducing in duration. If bitcoin continues from this point as there is a possibility that there is a minor double top in this region with possible movement to 8300, it will be testing the horizontal resistance of 9400-9600 which was the previous support of the descending triangle. This is an important region to be analyzing because it was a strong support in that area, and it may be seen as a strong point of resistance. At this point it is likely that bitcoin will continue in the same direction until 9400-9600 (Expect to wick over this region), however, if price is rejected at this region, 8300 should hold as a shorter term buying point. Just to summarize, this mini parabolic move could go as far up as 11000 and 9400 is the point of the strongest resistance, so 9400-11000 is my interval for the price objective. On the daily I am really looking for a test of about 10k before there is a good solid rejection to for a strong consolidation something as presented below: Previous Analysis: Once again, determining tops for a parabolic is very difficult as most points of resistance seem to melt away as the mania heightens. For a more thorough analysis of parabolic movements please read my previous analysis: Best of Luck and Stay Technical!
COINBASE:BTCUSD
by CuddlyCuddles