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BTC - Levels To Watch ForHello Traders, Here is a quick update on BTC Since my post yesterday, BTC broke lower to the Major Support level at $19.5K. If this level fails that will be very Bearish for BTC. If the Bulls can hold and break above this level, then that is a strong signal for the Bulls and they will have temporary control. However, If the Bears can break price below this level, the Bears will clearly have control. This is an important level to keep an eye on. If the Bulls take control we can potentially expect a rally in the near term. If the Bears take control we can expect lower levels, possibly back to range lows in the coming weeks. Also, just a bit of quick education... The more times that price hits a level, the weaker it gets. - Think of it like someone trying to kick a door down, the more times they kick the door the weaker it gets, until eventually, it breaks. Its the same thing with support and resistance levels. - As you can see, the $19.5K level has been hit several times, this tells me that its currently in a weaker state and will be harder for the bulls to defend. Thanks everyone and best of luck trading!
BITSTAMP:BTCUSD
by natef1
For All Of You Following My Cycle Patterns - Here's Next Week.As you know, I have these setup 4+ years out into the future and continue to identify new RARE and UNIQUE patterns as time allows. I'm even up to 5~6 bar setups in some of them. Yet, next week shows a very interesting set of Cycle Patterns... 9-19: Inside/BreakAway 9-20: BreakAway 9-21: Carryover (Possible Reversion) 9-22: Inside/BreakAway 9-23: Momentum Rally *9-24: RARE - Major Reversal *9-25: N/A 9-26: Breakdown201 9-27: Harami/Inside 9-28: CRUSH (*Bearish) * = weekend I'm reading this as a very important and volatile week will follow the Fed rate decision. The US/Global markets may move into FULL CAPITULATION after the Fed next week. But, The RARE - Major Reversal pattern and the Momentum Rally pattern suggest the end of the week may see some type of "reversion" of the previous downward trend. The following week (early) - we move towards a CRUSH pattern (9-28). Those tend to be very strongly BEARISH. Stay protected. Follow my research and learn how I can help you navigate these incredible price swings. We may see a little support in the markets tomorrow, but it looks like traders are already anticipating a 75pb rate increase and selling ahead of the Fed decision.
AMEX:SPYLong
by BradMatheny
2
Today is a N/A Day (No cycle pattern) - what to expect...Today will likely be a carryover of yesterday, setting up tomorrow's TOP pattern. Because of this, I expect a bit of a rally phase today (rebounding off the lower support channel) and possibly attempting to move above 395 if there is substantial buying activity. Yes, the Fed decision is near, but traders are still using the US equities market as a hedge against foreign market risks because of the stronger US Dollar. Gold and Silver will likely setup another retest of recent support. The markets are shifting and we could see a big move next week with the Fed decision. Right now, I see the markets struggling to find support and attempting to hold above the Flag/Pennant lower channel. Crude oil is lower - suggesting the global economic demand for oil is weakening. Stay cautious. Follow my research. These cycle patterns are really incredible in how they predict days/weeks in advance.
AMEX:SPYLong
by BradMatheny
7
CPI Data collapses US markets - Watch For Rally/Reversion higherCycle patterns indicated a GAP/TOP for Monday/Tuesday. Then, they indicate a potential reversion/rally for Tuesday/Wednesday. After watching the deep selling related to the CPI numbers, I would not be surprised to see a very strong rally/recovery over the next 48 hours in the SPY and other US Indexes. News-based reactive moves like this are often erased over the next 24 to 48 hours as traders realize the true capacity of the future economic trends. Stay tuned.
AMEX:SPYLong
by BradMatheny
3
SPY Cycle Patterns UpdateThis weekend, I spent quite a bit of time studying various rare and unique cycle patterns within my database. Because of this new research, I can share with you the new WEEKEND trigger which setup last weekend. I suspect a bullish GAP will setup early this week with price trending substantially downward on Monday. Tuesday should represent another attempt at a top/peak in price (possibly resulting in some wild volatility Monday/Tuesday). Wednesday will represent a Reversal/Rally day - possibly extending price up into a BULL TRAP for investors. Thursday is a N/A Day - meaning I don't have any confirmed Cycle Pattern trigger for that day. Friday will be another Top/Resistance day - likely seeing the markets establish a peak in price (again) and trending downward. Headed into the Fed week and knowing traders will be preparing for future headwinds related to futures/options expiration, this week could be full of very volatile price action. I suspect Monday/Tuesday will set the RANGE for the week and the rest of the week will trade somewhat sideways. Follow my research. These cycle patterns have been very accurate so far.
AMEX:SPYLong
by BradMatheny
1
BAT - CRYPTO MOVING NICELY TO THE PATTERNSBINANCE:BATUSDT has had a nice move down from the larger Patterns on Sept 5th now we are looking for more weakness down toward 0.30 to complete this ABCD pattern. If we look at todays AI there is a CIT Window at 13:00 this afternoon. If we could get one more rally up towards 0.33-0.3350 that would set up a sell signal for a minimum move back down to 0.3200. A nice one to keep an eye on as its moving nicely to the patterns I trade. I hope this helps. Enjoy the day. 👍👍
Short
by L_F
A Bitcoin Simple Symmetrical AnalysisPiece together the simple aspect of symmetry and math. This decline on the 5 day (and weekly) proves to showcase a coincidental mathematical drop from Nov 2021. If this does play out our BTC bottom should be the 28th Oct 2022. Note: - 1st drop for Nov 2021 15 bars - 2nd drop from April 2022 15 bars - 1st up 13 bars - 2nd up 13 bars - Gaps from high to high both 28 bars - 100% Fib-Based Ext. correlates to a ending range. - Total avg -85% drop for cycle ATH 84.55% matches overall down bar calculations ending at a 50% retracement to the last parallel channel. Note: I am publishing this idea based on discovery evidence found in the candle stick and observing the aspect in relation to the mathematical symmetrical patterns and how it correlates with Fib Levels, parallel channels. Nothing has to follow and a curve ball could be thrown however, for a 9 month reoccurring pattern is something not to ignore.
INDEX:BTCUSD
by LiquidMafia
1
GBPNZD - AI & MAJOR LEVEL COMING UPToday Im taking a look at the AI for the next 2 days and how its timing in with major pattern completion levels between 1.8947 - 1.8962. Patterns completing are a Gartley from the 15th low. An ABCD from the 18th high @ 1.8962 A 3 drive completing at 1.8947 Add in the AI @ 2:30 tomorrow morning and this gives us a great set up to buy. If its at a high coming into the key time then its likely to be an invert and heading lower. Things lining up nicely. Lets see how it plays out. Enjoy the day. 👍👍👍
Long
by L_F
EURUSD ready to trade below parityEURUSD is showing strong potential of trading below the breakeven parity level and I highly believe that by the end of August we could break the parity level and trade below it for the rest of 2022. Looking at price action on this one I see 0 reasons for buying, in fact all we are forming is constant lower highs and lower lows... which suggests we are in tune for more bearish momentum if this process continues. We just came out of a build up range followed by a bearish flag pattern... momentum is strong and I highly believe, based on what I see, that we'll be heading south bound for now.
Short
by PrimedGroup
The Good, The Bad and The Ugly - BTC to $430 000 (there's a catc The Good: $430k is in slight 🚀 The Bad: $7-$9k will come first ⚡ The Ugly: it'll take 4 years to reach the top, 3 years of which in a bear market. 🐻 Despite the high volume in the recent weeks BTC was unable to push through $25 200 or hold the $23 800 resistance that flipped support for a short while! This is very significant and paints a grim picture, especially when paired with the state the US economy and the high inflation. This price action is usually characteristic for the PS stage in a Wyckoff Accumulation, where institutional buyers accumulate the asset so that they have enough of it to sell through major resistance levels (and subsequently buy back at a discount). This in turn triggers a cascade effect, pushing weak hands, who in a state of a panic try to salvage whatever they can and sell everything they have left at a great loss. In the short term we should see a bonce back to $22 600-$22 800k before the final leg down. Bottom price is not guaranteed, but the bottom will almost certainly be at the end of November / beginning of December. To show the potential path I've used an inverted fractal from ADA that covers the accumulation period and the ascend to $3+. Never a financial advice, dyor.
by Rezakov
CANDLESTICK PATTERNS BASICS | Engulfing Candle 📚Hey traders, In this educational post, I want to discuss with you one of the most accurate REVERSAL candlestick patterns - the engulfing candle. On ETHUSD chart, I spotted for you bullish & bearish examples of this pattern. The logic behind this pattern is quite simple: ⭐️In a bullish trend, after a strong directional movement, the price reaches some important structure level. Growing steadily and forming a sequence of green bullish candles the price suddenly forms a strong bearish candle. What is particular about that candle is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bullish candle. 🔻Such a candle we will call a bearish engulfing candle. Most of the time it signifies a strong spike in selling volumes and willingness of sellers to push. With a high probability, such a formation leads to a pullback or even a trend reversal.
by Mr_HaMza_