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GWO Double Bottom 200SMA GWO has recently passed the 200MA on the weekly chart signalling a strong reversal in the price trend from bearish to bullish. after price showed a double bottom reversal, the price rebounded to break the resistance and cross over the 200SMA indicating a strong bullish trend. Price showed a similar pattern of a double bottom reversal crossing the 200MA in late 2011/early 2012 leading to a strong rally seeing the price increase almost 50% after breaking the resistance. the price target is 45-47.50 (35%)
TSX:GWOLong
by Zacmando
1
Potential Relief Rally to $8-9 upcoming? Price action in the MJ Sector are known for their extremely quick movements and the euphoria is short lived as retail traders take their profits. A quick and massive short squeeze plus hype from overall market sentiment is what it will take for this movement (Since much of the traders of ACB are retail traders). Historically it has done exactly just that. Waiting to see if the next 2W candle (Ending January 31, 2020) creates a higher high above $3.02 and closes above $2.92 with strong volume. A close above 2.92 will form a bullish hammer on ACB's monthly chart, further solidifying this trend change. Note: Historical price action between $4-5 moves quickly as there is little support/resistance developed in this zone. Strong buying pressure that lasts until $4 will leave many shorts who entered from mid November to now in the red, which may potentially cause a short squeeze into the neckline of the monthly Head and Shoulders (Around $6). A short squeeze that causes an artificial increase in price will further drive in retail investors to buy more from this hype, and perhaps lead to another short lived Bull Market as we have seen occurred thrice before.
TSX:ACBLong
by Cuyut1031
5
Bitcoin - The Entry for the next big Rally (Structure, S&D, ...)Hello Traders ! Today we will have a look at Bitcoin! Confirmation: 1) Double Top Formation 2) Structure 3) Support Resistance 4) Supply Demand I think that a lot of investors would invest their money when bitcoin is at a low price and a lot of people will follow then the trend. Let me now in the comment section below your view on Bitcoin and what you think about my Video Analysis. Please leave a Like. Thank you and we will see next time - Darius.
BITSTAMP:BTCUSD
by DariusFxTrading
4
The next year(s) for BTC: What to expect.So BTC is looking good, more and more so with each passing week. Some still cling to their hopes that they can buy in cheap at sub 3k prices, hoping for BTC to do the famous ABC correction, because they mistakenly thought that the top at 20k has been wave 5 of the trend that started in 2010. However, BTC doesn't really care about Eliott wave theory, I am skeptical of it anyways, because it mostly seems to work in hindsight, hehe. BTC is driven by adoption, by the underlying principle of hashing and difficulty and block reward. With the block reward halving nearing and nearing, and transactions remaining high, the chances for a bigger dump are now getting lower and lower. Yes, we still could revisit the weekly MA200 currently at 5200, in a brief and brutal flash-crash, akin to the Silk-road flashcrash in 2013. That is not impossible. But, we are now getting ready for the next rally. How fast will it go up, we cannot know, but I drew 2 routes which I think are the likeliest. The blue one is the surprise route, where BTC surprises us with unexpected quickness, reaching the ATH sooner than in the last cycle. The green one is the "normal" route, which many expect, namely ATH again towards the end of 2021, corresponding well to the roughly 4 year halving cycle. I am unsure which one it will be, but since so many people are bearish and tend to under-estimate BTC, I wouldn't be surprised if we'd see the blue route with a slightly higher probability. But that is just a guess. One thing is clear however, BTC is gearing up for the next rally, at it's only a matter of time until we see new ATHs.
BITSTAMP:BTCUSDLong
by SebastianofMoon
15
Huge BTC Rally poised for Valentines Day if inverse H&S confirmsAll of our major trend lines are converging. And the point at which the two most dominant uptrend and downtrend lines intersect with one another ( the uptrend line from $1250 from June 2017 and the Downtrend line starting from 20K from January 2017) — the point at which they intersect also happens to be exactly where this current inverse head and shoulders would confirm its breakout from the shoulder line. Also! In the event of that confirmation, we would expect to see the 50 Moving Average and 200 Moving Average on the Daily Chart to form a golden cross at this convergence point as well. All together, this makes the confirmation of this current Inverse H&S a tremendously important event and will very likely be the start of a significant bull rally. I would expect this to occur in the next 2-3 weeks. However, as a result of this, as the exact bottom of shoulder 1 isn’t exactly clear, we may test as low as 7800. Although, its possible we’ve already completed the bottom of the second shoulder. — Just be aware this is a possibility. And in the event shit gets crazy and the inverse H&S ends up being invalidated, this will likely move sideways until it meets the wedge of the minor up and downtrend lines- and at that point be forced to make a move. And its important to note that we are currently in a sort of neutral zone. Anything below 7425 would put bitcoin in control by the bears and anything above 9415 would put the bitcoin in control by the bulls Update idea
BITMEX:BTCUSD.P
by Raqix
1
The Great BTC Rally map. Bear gets rekt beyond any repair!I have lost the description, and... one who studied the theory doesn't require the explanation! So I'll be very short. The accumulated above 6.5k in the last few weeks massive group of initial waves(1-2-1-2-3, 1-2-3-1-2- or smth like that) seems to be planning a MASSIVE invasion over the 9k+ region. I mapped out (with all the cautiousness one ever may apply) this initial group of vectors. The only reasonable and working approach was mapping them as if at least a 3-4-5/I-II-III-IV-V combination(+ 1 parent at least) is expected. We are inevitably approaching the moment of synchronization of all wave momentums on all timeframes. This situation will create the so called "Perfect Strom". You may think, that 14k-16k is a fairy tale? Think again! A closer look: ------------------ BTC is willing to withstand any bearish attacks. I have remapped some of the "hard nuts", and now we can observe THE CLEAR PICTURE. -------------------- One more: 30m: A closer look at the included impulses: From above: Now, the bears aren't even fighting anymore. They are only playing defense nowadays. The accumulated group of vectors can not be interpreted within any sensible bearish scenario. Before our eyes - the clearest picture we can get. BTC is going to surge. And this surging will kill many warm fur animals! I won't go into details much. There's literature available all around ;) There's will be no prices below 7k anymore. Understand>? Ever! Maybe only prior to the bitcoin death. So safe to sell a house and buy btc with the cash. But I ill not, like, EVER, advise you to do so) !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! IMPORTANT (MAGICAL NUMBERS): Consider three dead-important levels: 8467 - if we break it - RALLY is ON! Never sell again =) 7676 - if we below this one - a full chart remapping is needed. But the Rally is still possible, just a week-long flat occurs first. 6767 - below this one - RALLY is REKT for good. Short this Ponzi. !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Trade safe, bb. Peace, to all, fellow traders ! The General finally have some time to take a little nap...
COINBASE:BTCUSDLong
by orbborisson
5
Enter on a logical level, move to 8,800 -> 9,000 possibleToday bar is likely to end up as a pin bar. It is to be expected, bitcoin was in a contraction phase and November crash created strong Ichimoku cloud upfront. On top of all that, sudden upward movement happened to leave 3rd deviation Bollinger Bands, which is statistically more frequent on cryptocurrencies but still increases pullback probability by a great margin. I recommend avoiding trading against the trend. My personal setup is to enter on a logical level based on Volume Profile. Reaching a low volume area, however, is not a signal by itself. Price action signal should appear on the level. Another pinbar would be most comfortable to trade, but something like outside bar appears, I will take it too. I'll update the analysis when we reach the level. I will be rating all my analysis this year. This setup will be considered successful if we reach the lower rectangle and open a successful long position based on price action with a minimum of 2:1 ratio Good luck
BITMEX:BTCUSD.PLong
by OrcChieftain
7825 - the last chance for a buy-in.I guess 56 hours of non-stop analysis payed off in a form of followed 56 hours of pleasant observation, of how the forecast predicts with 95% precision all the price movements))) Now this is the time for the bulls to get into play. Probably on Monday, or even in the following 4-5 hours we will observe a huge price. A lot of confirmations kicked in, time to buy, baby. The last chance) See al the divergences. The bears have lost their power for good! 7825 - the last chance for a buy-in (expecting a small dip(1-2correction), but may just be rocketing right now, right to the moon!) Always yours, orb.
COINBASE:BTCUSDLong
by orbborisson
The Complete Battleplan. FRONT NEWS!Finally the rally price action proved previous forecasts to be true(ish). The question everyone is asking - when does the rally end? I've carefully mapped out all four basic bullish scenarios I can see in this market. We're about to see at least one deep correction model that will retrace 15-40% of the typical 12345 impulse, if it is finished(if so, then bulls will rest for a day or two,' observe the battlefield, confirm the price stability). I suggest 4 basic scenarios, all bullish. So DON'T panic, one deep correction may easily form allowing the bulls to quickly replenish lost soldiers and bring even more fresh whale buy-ins to our party! I've tried to consider all major res/supp levels and the common time lengths that suggested correction models commonly feature for BTCUSD(to the best of my analogish brain judgement). Chart tells you everything you need to know: two most probable scenarios are all mapped-out with the consideration of known levels. I also suspect that the FOMO is great right now and the current impulse has a lot of driving force left to continue surging up to 8.8k+ without and deep retraces. I vote for THE MOST PROBABLE SCENARIO I. (subgroup II. is as probable as I.) Do you? The bigger picture can be observed in the related ideas... below... They are all parts of the same market analysis.
COINBASE:BTCUSDLong
by orbborisson
3
If a bear should ask.A lot of news coming in, and we have seen some volume , but neither we were dropped nor rocketed. Now the bulls are protecting 7400 pivot - just like on the 5th of Dec 2019. While the market repeats itself(see the chart since 27 Nov 2019), traders are making bets if it will drop again just like on Dec 9 2019. I'm still bullish with the buy positions in, but just placed a few short orders in order to be safe from loosing all the deposit. If it pumps up to 7700- we are gonna see the sky - rocket to 8100-8600. Otherwise - I feel the bears will bring some big guns into play and we will see BTC retesting bottom with inverse head and shoulders formation and the second shoulder somewhere in between 6800-6900. Time will tell...
by orbborisson
Bullish confirmation came in.Remember what happened earlier... 1. We have been continuously defending 7200 pivot, and all the shorters in the world couldn't bring us down to 7100! 2. All previous bearish moves, all consisted out of typical correction forms which proves that bears finally lost their power. Bitcoin is now considered cheap if it is sold at 7200. 3. We have been experiencing a prolonged flat around pivot 7300. This flat accumulated a lot of orders, both sell and buy. Nevertheless we rocketed up to 7550 and even then! We didn't fall (as we certainly would if the bears were strong). 4. Now we can observe a little slide back down to 7350, defending the 7400 pivot. If this flat will continuously bounce around 7400 pivot(7387-7425 levels), then It becomes clear, that big players are no longer shortening! A few hours 'till the asians wake up at 00:00 UTC and we will definitely see a lot of volume kicking in. There may be a pump up to 7600-8100 or a bottom retesting at 6900. In any case here it comes!
COINBASE:BTCUSD
by orbborisson
ETH reversal very unlikely, still bearishThere's an across-the-board bounce for cryptos several days ago, spearheaded by Bitcoin which pushed the price above symbolic $7,000 once again. Overall in the big picture, we still believe this 10% rally doesn't reverse the bearish trend. With respect to ETH, it's obvious the rally doesn't surpass 4h resistance line and price is still concealed in the downtrend channel. Moreover, the rally of ETH doesn't even come close to the daily resistance line which is about 135 as of now. After the rally, the price action, like many times before, slowly drifted down, a short-lived bounce again. As such, we think ETH most likely play a weak consolidation between 120-125 price zone in the coming week. Afterwards, the downtrend would resume. Last week post about ETH:
BITFINEX:ETHUSD
by UnknownUnicorn3838311