Rejected
Sand P triple test failed - down to rejoin channel nowSee chart. Double shooting atr Doji on the 1-hrs today. Bearish divergence. Media hype 'bulls charging nonstop!' Look out below...
Viberate Coin Short Term ViewViberate has formed a double bottom at $0.068, with the last bounce occurred just yesterday. Price then went up by 11% and has reached the $0.075 high, where it has rejected the 23.6% Fibonacci retracement level, along with the 200 Moving Average.
It seems that $0.075 is a strong level of resistance, and in order for VIB/USD to move high, price has to break and close above it. When/if that happens, VIB is likely to move up, towards the key resistance at $0.087, that is confirmed 61.8% Fibonacci retracement level.
If the $0.087 resistance is broken, this could be the confirmation of the beginning of the uptrend, after which volume and volatility might increase substantially.
But, if resistance will hold, further price decline becomes more likely and could send Viberate down, potentially towards the $0.068 support, or even lower.
Gnosis Support RejectedYesterday Gnosis has reached the low, hitting $45.5 level. This support is confirmed by the 327.2% Fibonacci retracement level applied to the corrective wave up after the ascending channel breakout.
Evermore, GNO/USD has reached the bottom of the descending channel, rejecting the lower trendline. Today, as can be seen, after the very clean rejection of the support, price is rising quite rapidly, which could mean that the trend is reversing to the upside.
At the same time prior to reversal a consolidation period could take place, where Gnosis will stay around $50 area. But, if price stays above the $45.5, without the daily close below that level, the probability of a trend reversal will remain very high.
Counterparty Rejecting Long-Term TrendlineAt the beginning of April Counterparty rejected the long-term uptrend trendline. The price went up from $10 to $23, after which another corrective wave down followed. At the end of May, Counterparty rejected the long term uptrend trendline once again suggesting yet anther wave up.
The resistance is seen at $31, which is confirmed by two Fibonacci retracement levels. First is 161.8% Fibs applied to the current corrective wave down, where the trendline was rejected. Second Fibs applied from October low, up to the all-time high, and it is 76.4% Fibs.
It seems this is a key resistance level, break of which could confirm a long term uptrend, while the rejection might result in a strong corrective wave down.
The downside risk still remains, but to confirm XCP/USD bearish intentions, price has to break and close below $9.5 level. In this case Counterparty could continue moving lower, or extend the consolidation period.
Radium Value Could Multiply by x5Radium has formed a strong bottom at $2.62 level. This level has been rejected throughout the past year, while price bounced off it at least four times. The most recent bounce occurred on the 31st of March, and price went from $2.62 up to $6.
However, the corrective wave down followed and found the support at $3.3, that is 78.6% Fibonacci retracement level, that is being rejected along with the 8/1 Gann Fan trendline. The timing for the buying opportunity seems to be very interesting as if price will stay above the support, the strong growth will be almost imminent.
There are two resistance levels to watch, first is $13.4 level, where RADS/USD formed the resistance back on 25th of January. The second, and key resistance, is at 78.6% Fibs, that is $17.75 level. If/when that target is reached, the value of the Radium will grow by 5 times, which could happen in the medium term.
To consider the downtrend scenario, price must break and close below the key support level, that is $2.62. Then the consolidation could take place and price could test $2 psychological support.
Decred Rejected The SupportDecred seem to find the support at 88.6% Fibonacci retracement level that is $37. Price rejected the support together with the 8/1 Gann Fan trendline. The following wave up resulted in the break above the downtrend trendline, suggesting either a correctional move up or a trend reversal.
The resistance is seen at $80 area, this could be the first upside target for the potential upcoming wave up. Second resistance is near $90, that could be the decition point for DCR/USD. Break above $90 should establish a long term uptrend while rejection would result in a correction down.
On a downside, daily break and close below $37 support should invalidate bullish outlook and extend the consolidation.
NXT Strength Against the BitcoinFollowing the previous idea on NXT/BTC , price went down to 361.8% Fibonacci at 1480 shatoshis, that has been rejected cleanly. The previous prediction was quite precise, and after rejecting the support NXT/BTC broke above the downtrend trendline suggesting the the trend might be about to reverse.
At this point NXT is facing several resistance levels that it has to overcome in order to start a longer term uptrend. Fist strong resistance is 2000 satoshis area, break and close above it should push price further up to a 50% Fibs at 2600 satoshis.
On the other hand, price could still continue to consolidate between 2k and 1.5k satoshis and potentially produce spike below the current support before moving higher. All-in-all the short term upside potential is there and the reaction to the 2k satoshis resistance should show the strength of the NXT against the Bitcoin.
Simple Token Bottomed Out?Simple Token has found the support at 161.8% Fibonacci retracement applied to the corrective wave up after the break below the 3800 satoshis support. The Fibonacci support has been rejected cleanly after which price broke above the downtrend trendline.
While the 1580 satoshis support is holding, it is likely that OST/BTC will continue rising towards 3800 satoshis resistance area, although this could be just the very first wave of the uptrend. Break above the 3800 resistance could be the beginning of the strong uptrend, sending the price to the new all-time high.
On the downside, break and close below 1580 satoshis could invalidate bullish outlook and push price lower to 1k satoshis psychological support.
Zcash Medium Term Potential 300%During the December rally, Zcash hasn't been the top choice for investors, although it showed a healthy 500% gain, reaching USD 813. On a corrective move down ZEC/USD lost almost 70% and was stopped at the 76.4% Fibonacci retracement, hitting USD 254 low.
Price failed to close below that support and what is, more importantly, 8/1 Gann Fan trendline was rejected with surgical precision. This is the key support and it has been rejected, suggesting the continuation of the uptrend.
Fibonacci retracement level applied to the last correction down as well as prior corrective wave after the downtrend trendline breakout shows that the strong resistance is at $1500 area, that is nearly 300% growth potential. At the same time, $1000 area resistance could be an obstacle as it also is a potential technical resistance and a strong psychological round number.
BTC rejected by heavy resistance at neckline! Possible bounce?Good morning everyone! Here is the latest with Bitcion: This is on an hourly chart, I normally use a 4 hour. Bitcoin pushed up to the neck line of the inverse head and shoulders with unbelievable effort, considering it had hardly any volume most of the time. It was rejected by that trendline. It didn't have enough momentum and buying pressure to break through that huge resistance level so it tumbled down to the 200 EMA level, which is a key level for a bounce. If we don't see a bounce within that red circle, the next level of support I'm looking at is back down to that purple trendline with the green support line drawn above it. From here, I'll keep you posted as to whether we bounce or dive back down to new support levels. Any questions or comments feel free!
Florincoin Is Expected To Double In ValueFlorincoin has corrected down massively since reaching the $0.4 high. Price went south as much as 85%, hitting the $0.06 low. FLO/USD broke below the 88.6% Fibonacci retracement level as well as the uptrend trendline. Nevertheless, price recovered very fast and went up to $0.0135 breaking above the descending channel.
Current correctional wave down was stopped by 88.6% Fibs at $0.087, which this time is being rejected, together with the uptrend trendline. While the consolidation could continue, Frorincoin should produce a wave up at some point, if the support will be respected.
The first upside target is at $0.18, and the second is $0.22, that is 100% growth potential from the current price.
Who called the short break out like me!!!Unlike certain 'pros' i've been in this TA game for 3 weeks, difference is they like to over shoot everything. I like to give a realistic target to things. Pros said we are in Inverse Head and Shoulders, where the break out would take us to 18k. I wasn't buying it for a second. I'll keep this short and simple, bitcoin will either bounce off the lighter blue support line or if it breaks through i see it going to 8k and bouncing. If bears bring us down, let's see if 8k area holds. BTW the title is a joke, i'm not trying to be arrogant : )
Bitcoin Final Step To Confirm The UptrendBitcoin has reached the downside target at $7555, that is based on the Fibonacci applied to the ascending channel breakout. However, the price went lower and hit $5900 price. Well, the important aspect is that the weekly closing price remained above that level and after breaking below price went immediately up and for the past few days has been rejected the actual downside target/support at $7555.
Now the final step required by the Bitcoin to confirm the uptrend and this is to close above $8650 level. It is important that the price will close on a Daily timeframe and better on a Weekly. Therefore a weekly close above $8650 should be a long waiting confirmation of the uptrend.
On a downside, break below the $5900 will most likely send price lower to $4000-3800 area and the $7555 support has to be watched for a break below.
Edgeless - Downside Target Reached, And RejectedEdgeless has been slowly moving downwards for the past few months. It declined from 23.5k satoshi down to the 8k satoshi level, losing 66% to the Bitcoin. Fibonacci applied to the uptrend trendline breaking point shows that EDG/BTC reached and rejected the final downside target at 0% Fibonacci, that is 8k satoshi level.
This is a strong support for Edgeless and price could potentially reverse to the upside from this point. Consolidation is possible and even spikes below the support. The confirmation of the reversal could be the break above the descending channel which should push price towards 16k satoshi resistance. If the resistance is broken a longer-term uptrend might be on its' way.
Basic Attention Token Reversing Up?Basic Attention Token has established an all-time high at $1, followed by a strong correction down to $0.23 support. This is the level where previously was acting as a resistance and then the support, and yet again history repeats itself. The support is also confirmed by the uptrend trendline, that has been rejected cleanly.
In addition, Fibonacci applied to the corrective wave after the uptrend trendline breakout shows that $0.23 is also a 461.8% retracement level, confirming the presence of the support.
If BAT/USD will continue trading above that level, the trend could reverse to the upside and perhaps move to a new all-time high. The price seems very attractive in terms of buying opportunity and only break and close below the support could invalidate bullish outlook.
Bitcoin Could Have Reached The BottomIt seems that Bitcoin has finally found the bottom after losing 62% from the all-time high. Fibonacci applied to the breakout of the ascending channel shows that price has reached the final downside target at 0% Fibs at $7555 and rejected it cleanly.
In addition, Fibonacci applied to the corrective wave up after breaking the uptrend trendline shows that the very same price level is at 561.8% retracement. Today Bitcoin rejected the lower trendline of the descending channel, not to mention that on a Daily chart price is rejecting the 200 Moving Average.
And finally, price rejected the 2/1 Gann Fann trendline has acted as a support. Therefore, all the facts so far are in favor of the potential uptrend continuation and pointing out to the end of the correction.
Ardor VS Bitcoin- Time To Buy?Ardor reached the high at 15.2k satoshi after a strong rally resulting in a 490% growth against the Bitcoin. But then a strong corrective move followed where Ardor lost 50%. The correction was stopped at the 61.8% Fibonacci retracement level.
In addition, this support is confirmed by 161.8% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout. And finally the 4/1 Gann Fan trendline has also been rejected, together with the 200 Moving Average.
Clearly, there is a massive support at 7.3k satoshi and it is being rejected, suggesting that ARDR/BTC could be ready to continue the uptrend.
However, the risk of further decline is always there, and in case support is broken Ardor could drop to 4.4k satoshi support, but at this point, it seems an unlikely scenario.
Golem Established An UptrendAfter multiple rejections of hte $0.17 support area, Golem started to rise rapidly, breaking above the 200 Moving Average. As uptrend continued GNT/USD broke above theprevious all-time high at $0.72 and then went even higher breaking the $0.87 resistance, that is 127.2% Fibonacci retracement level.
Althogh the correction down followed and Golem rejected the previous resistance at $0.87, currently acting as a support. It seems that the uptrend is only emerging and Golem could potentially triple in value against USD. The Fibonacci resistance levels should be watchd for rejection, but the final upside target is $3, that is also a strong pshycological level. Only a break below the 200 Moving Average could invalidate bullish outlook.
OmiseGo Could Correct DownAfter finding the support at $5, OmiseGo went up to almost $30, resulting in a huge 445% growth in just over a month. Obviously, $30 psychological round number has acted as a strong resistance, which is also confirmed by the 261.8% Fibonacci retracement level.
While the $30 resistance is respected it is likely that OmiseGo will correct down towards either $20 or $17 support levels, that is 161.8% and 127.2% Fibonacci retracement levels. At the same time trend remains bullish and the resistance should be watched for a breakout where the uptrend might continue. Nevertheless, now it could prove to be risky buying OmiseGo as the resistance is holding.
USDCAD Long term Symmetrical Triangle Chart Pattern Supp RejectUSDCAD long term Monthly Resistance now become Support = Long term with good risk reward
Symmetrical Triangle Chart Pattern is now creating= expecting the breakout to the up side to the 1.3570 Resistance and also the 1.272 Fibonacci extension tool.
Place your stoploss below the new support
Bitcoin ETF Rejected: Bearish Short Term Still Bullish Long TermJust sharing an inverse fractal idea for Bitcoin. Feel free to comment.
Market Update:
SEC rejected the Winklevoss Twins Bitcoin ETF earlier today.
This makes BTC short term bearish, with downside targets from 780-880.
However, we are still bullish on the larger timeframe, with possibility of SegWit activation if Core vs BU can settle their issues, Rootstock release scheduled for May 2017, and the viability of this technology to revolutionise countless industries is beginning to be understood by the early majority.
In the meantime, let's enjoy the Altcoin party or sit tight in USD with bids in place.
Trade safe and don't forget to take profits!
