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Retracement

CB Pro - Delaying The Inevitable For ADA? As an ADA holder, and someone who is general long on Cardano... I have loved the CB Pro hype. But I'm also worried that it's only going to delay the inevitable pull back from this last major run. Let's break down the 1 week candles. PAST The run that started last March (2020) ended in ADA being overbought for 77 days. As expected with an overbought stock/crypto - the price proceeded to correct. Price dropped down 46% and hit the .382 fib retracement line PRESENT The run that started in November 2020 has yet to have a major pull back During that run ADA has been overbought for 91 days The Stochastic RSI started to tick down (as expected) THEN THE CB Pro news drops and we get a major pump ADA still flirting in the overbought range... could still see a drop I'm worried that the CB Pro pump is going to give a false sense of security and we are still in for a bit of a correction. Maybe the CB Pro pump means the correction won't be as sever, but I don't think we are out of the woods yet. I would love to be proven wrong... but I would also love for ADA to go on discount and pick up some cheap coin!
KRAKEN:ADAUSD
by worldlyTacos81375
2
COPPER - DUE FOR A MAJOR CORRECTION?Looks like copper finally reached the top of the 5 wave impulse. We also saw an extended 5th subwave as the very last wave in the 5th wave which is typical in the commodity market. Also RSI didn't create a divergence but that is because of the extended 5th wave. We should see copper come down atleast 25-30% of it's value as a correction from the huge run it made that started early 2020. This isn't a "crash", this is just a healthy pullback before the next wave up in the future. I'm not planning on shorting it, but I did take profits on my long positions. I will look to re enter when it is done correcting.
COMEX:HG1!Short
by CathartesCapital
$ORN: Bearish TA + Bullish FA = ?Fundamentally: Orion Protocol is a crazy bullish platform. We're approaching quickly the public launch of the terminal and once people realize the game changing utility of a one stop shop, best price, no KCY market aggregator? This will absolutely rip. 3 figures within a couple months wouldn't surprise me at all.... The $ORN team also keep PUMPING out partnership and integration announcements. This morning they announced a new integration partnership with $AVAX... Avalanche will bring significantly faster transactional throughput and finality, lower latency, and increased security to Orion Terminal. Technically: On the daily chart, we've printed back to back "Sell" signals. If you look at the price action, a top and then a failed push back above looks decently bearish, and we've not had a decent pull back in multiple weeks. On the right hand pitchfork chart? We've seen the PA really respect the bottom 2.0 prong. There's multiple trend lines in play here. We're also seeing the .786 fib that was acting as resistance now flipping to support? We'll see in the next couple days.
OLong
by its_maxbro
1
Is this an uptrend or not?The combination of the two tools Fibonacci Expansion and Retracement could indicate some important price levels for understanding the mood of the exchange rate. The most important dilemma that arises from this approach is if the last downward movement is considered as a correction of the main trend. Looking at the chart, it seems that Friday's close was marginally below the price level of FR 23.6. It may take some time for the downtrend to be finally confirmed and the exchange rate to return to an uptrend. An entry point higher than the FR 50.0 price level would be a safe choice. Then, it seems that some confluence levels emerge which can also be considered as target prices. As shown in the chart these are 0,7315 and 0,7437.
by UnknownUnicorn214400
BTC bitcoin weekly retracement warningbeing about 4k above the developing weekly pivot which recieves price action as a magnet would nearly every time price opens far away from it... I just wanted to post this so that people do not get too ahead of themselves with the weekend price action. It is a common occurance and that being said I would also like to note that there is still another full day+ when price can be brought higher or lower and thus the developing weekly pivot (i.e the reversion magnet) could be plotted to be higher or lower than here. Yet no matter if we move higher or lower on sundays price action if it is upwards the retracement of this size will "still" happen, except it will just be from a higher point. Often time when it is this ahead of the developing pivot it can happen even prematurely on sunday itself in anticipation for such price reversions. No matter how you handle it,... whether trying to short to the coming pivot or waiting to buy the dip on it. It is good to be aware of it
COINBASE:BTCUSD
by Gunslinger2005
6
Small Roblox Short OpportunityRoblox originally sold for $45. I am assuming that there are institutional and seasoned investors in this asset. This isn't just being pumped by wallstreetbets. There will be significant resistance at $90 as people begin to sell half of their RBLX holdings to eliminate their risk entirely (removing principle). If things go organically, I see no reason to not pick some shares back up at $60 to $70. This is a solid company after all. People can also choose to sell 3/4 of their stock at $67.50, but that would serve to be an excellent stop loss right now. Anyone who bought earlier today has the opportunity to make a 50% to 100% profit with a single day trade.
NYSE:RBLXLong
by Hemlocked
22
Bitcoin correction not over yet? Fibonacci Retracement is KEY!I've recently published an idea regarding a bearish scenario for Bitcoin, very similar to this one. Turns out it didn't work as expected. However, the analysis is still valid, but need some adjustments. These adjustments are shown on this new idea. CRITICAL TIME FOR BITCOIN: Bitcoin might be drawing an Elliott ABC corrective wave. Wave A is already complete and wave B *looks like* has just been finished as well right now. >> Here's why: According to Elliott wave's theory, during a corrective ABC wave, 'wave B' can go up to the maximum level of 0.786 on the Fibonacci retracement based on wave A. And that's EXACTLY what just happened! We are at this very moment testing this level and a clear resistance here might be a great signal for a short setup. If bitcoin struggle to break this level, I'll keep you update about a cool short position. Now, keep in mind we are facing huge money printing in the USA and that might very well affect Bitcoin price, as it is a getaway for inflation and an excellent investment for the long term. This could trigger the Bitcoin price to ignore this correction and let the bulls take us to new highs. Always look at bulls AND bears and try to find the strongest one. Trade safe.
COINBASE:BTCUSDShort
by B4Baggio
15
Gold analysis (09.03.2021) - "End of correction?"Hi all Very interesting place for GOLD. After quite positive news with vaccinations, GOLD as a safe-haven asset lost its growing momentum and experienced correction that as for now stopped at the psychological level of 1700 and Fibo 61.8 which are main arguments to possibly go long over here. Feel free to comment, give your thoughts. Would appreciate it if you like it! Disclaimer! This post does not provide financial advice. Always do your own analysis. Be aware that only you are responsible for your trades. Trade safe and keep in mind the risk!
TVC:GOLDLong
by AGAdam
BTC Still Could Touch 38-42k Target Before Further UpsideShort post here just as a word of warning. I feel that there is far too much bullish sentiment at this point. Long term, I also am a bull. However, shorter term, it is still possible we could retract further. Many traders are over-leveraged without sufficient cause. Yes, we could pop and break above the downtrend we are in. This is certainly a very real possibility. But I don't see too many indicators that we have done this just yet. In fact, what I am seeing, shows me that we could go either direction. And 38-42k is still a very real possibility. All I am suggesting is don't get carried away here kids. I too have my finger on the "BUY" trigger, but I am patiently waiting for sufficient confirmation that we are going up. I don't see this on any of my charts from BTC to ETH to any of the ALTs. Once I do I will update this post. We are in a triangle. We must break out and above and then have another candle on the daily to confirm this break. Right now we have hit our heads on overhead resistance. If we don't break above this, I see us doing a serious drop. Too many traders are over-leveraged here for this NOT to happen. We must break out of our triangle first. Now, if we do break the triangle, everything should be OK. We could still drop a little in the coming week or two, but I don't think it would be as serious of a drop at that point. Watch closely kids. Dollar cost average yourself in slowly if you are bullish. Have your stops in. And, for God's sake kids, quit over-leveraging. You're going to get slaughtered. Bitcoin LOVES to serve up a bit of humble pie every so often. Just be careful. Best of luck. Happy trading all.
COINBASE:BTCUSD
by stewdamus
5