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Pithfork

EUR/USD Short-Term Rebound!• The weekly S1 (0.9880) provided support for the EUR/USD, which has since attempted to close the gap. It has encountered resistance at 0.9935 and currently appears to be unsure. It might shift sideways in the near future. • Price declines are still possible as long as the pair remains below the descending pitchfork's Resistance Trendline, signaling a bearish bias. A new sell-off could be announced if the gap is not closed. Only a valid breakout above the Resistance Trendline could signal a larger growth. Good Luck Traders!
Short
by DredDine
BTC/USD - Weekly Chart Falling Wedge Pattern and a P WaveBTC is in a massive Falling Wedge Pattern. A Falling Wedge Pattern is potentially a Bullish Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is around March/April 2024. BTC is in a Negative Ichimoku P Wave Pattern. BTC has been in 2 Previous P Waves from the all time high and both P Waves ended with further drops to the downside. BTC is also in a massive Ichimoku Y Wave Pattern. This gives us a new All Time High potential target for BTC if it does eventually rise and especially if its stays above the Lower Descending Trend-line of the Falling Wedge Pattern. BTC is still deep in the Bearish Zone of the Ichimoku Cloud on this 1 Week timeframe. Note that we have already had a Kumo (Cloud) Twist into a RED Bearish Cloud on this 1 Week timeframe. BTC is still below its 200MA. A successful WEEKLY CLOSE ABOVE the 200MA and successful re-test as support is crucial for any longterm uptrend to become viable. Note that BTC has closed 3 weekly candles below its 200MA. BTC is still below its Least Squares Moving Average (LSMA) on this 1 Week timeframe. BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that both the Lower Band and Middle Band are pointing downwards and the Upper Band is pointing upwards but we may see the Upper Band curve and start moving downwards. At the moment of typing this, BTC has found some resistance from its 78.60% Trend-Based Fib Extension Level. At the moment BTC has found some support from its Descending Pitchfork Median Line. The Black Horizontal Trend-line at around $17,588 is a crucial level to watch. Looking at the Average Directional Index (ADX DI) we can see that The Trend Strength is Strong with the ADX (Orange Line) at 30.19 still above its 9 Period EMA (Black Line) at 24.70. Negative Momentum is slightly downwards with the -DI (Red Line) at 38.57 and Positive Momentum is also sideways within a range with the +DI (Green Line) at 12.18. From my opinion, if you are waiting to go long with BTC/USD for the Mid to Longterm, i would air on the side of caution at the moment because i still believe that £12K is a huge possibility especially with inflation increasing to help pay back the trillions of $ and billions £ printed during the covid pandemic to prop up the stock market. Mid to Longterm, we need to see a successful weekly close ABOVE the 78.60% Trend-Based Fib Extension level, the P Wave as well as the 200MA with a successful strong re-test as support on this 1 week timeframe. A successful close ABOVE the LSMA and successful re-test as support will also be a good sign of potential renewed Mid to Long-term upwards momentum. As usual, BTC needs to get back ABOVE and CLOSE a weekly candle ABOVE its BB Middle Band Basis. Until we see all of the above, then Mid to Longterm wise, it’s sideways within a range at best or downwards at worst. Again this is all just my opinion so please do your own research as its your money. I hope this is helpful with your Trading and Hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
2
BTC/USD - 1 day chart analysisLooking at the BTC/USD daily chart we can see that BTC is still under its Least Squares Moving Average as well as still under its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have expansion of the Lower Bollinger Band. BTC is still in a Descending Pitchfork Pattern and has found some support from its Upper Green Pitchfork Support Line. Note that BTC is still above the Descending pitchfork Median Line. A drop to the Pitchfork Median Line would take BTC to around $20,000 which is new its 0.786 Trend-Based Fib level at around $20,122. I have added various Support Lines on this chart and you can see the major Descending trend-line that BTC must CLOSE ABOVE and if needs be to successfully re-test as support on this 1 day timeframe. There are more support lines i could add but the chart would become too messy. Looking at the Trend-Based-Fib Extension we can see that BTC is still under its 0.5 Trend-Based Fib level around $30,352. Looking at the Volume Profile Visible Range (VPVR) we can see areas of interest that that might arise that has previously had massive volume. These levels coincide with the Support and Resistance Lines that I’ve added. The Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range is at around $19,112. I have added a Volume Profile Fixed Range (VPFR) indicator which is from 27th Mar 22 to 11th June 22 and as you can see BTC is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for that fixed range. Here is a closer look at this 1 day chart. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line on this 1 day chart. Note that it looks like the MACD Line (Blue Line) may cross back under its Signal Line (Orange Line) creating a Sell Signal for this indicator on this 1 day timeframe. Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum has increased with the -DI (Red Line) rising to 25.39 and Positive Momentum has dropped with the +DI (Green Line) dropping to 15.50. Note that the Trend Strength is now turning sideways with the ADX (Orange Line) at 24.18 and the 9 Period EMA (Black Line) is heading downwards at 34.37. If the ADX (Orange Line) crosses back above the 9 Period EMA (Black Line) then that will be further strength for the downside if the -DI (Red Line) is still above the +DI (Green Line) on this 1 day timeframe. All in all looking at this 1 day chart mid-term wise BTC shows no sign of breaking to the upside just yet. Look like there will be continued opportunities to acquire your crypto of choice at bargain prices. I hope this chart is helpful with your Trading and Hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
4
SANDUSDTHI guys I'm here with a new analyze of The Sandbox coin Is forming a compound correction and the place of it is Wave 4 The first section of corrective phase is a Zigzag and the second one is a Flat Flat has 3 waves(a,b and c) that are shown in red in the box named Flat on chart The wave C of Flat has made of 5 elliot waves that 3 of it has formed and we will have wave 4 and 5 At the end of the wave 5 we can open a long order we can find the end of the correction(the wave 4) with pitchfork or fibonachi clusters
Long
by Mahsamahdavi_trader
2
ETHUSDT-4h, Breakout happenedHi traders Welcome to this analysis about Ethereum (ETHUSDT 4h). Eth breakout above the upper boundary which now finally happened. As seen in the chart Ethereum, there are interesting interactions by pitchfork drawn in the chart. According to the chart, the up-trend target is the dash-line where is colored by the blue rectangle. the pullback to the top of the green channel (the middle line of the pitchfork) is another scenario. Thank you for watching the analysis and great contentment for everybody supporting, all the best! "Good luck is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the market.
by master-in-chart