Technical-analysis
NEW ALL TIME HIGH COMINGWhen in doubt, zoom out. Following a falling wedge pattern, a bullish move is expected if structure permits. The current falling wedge acts as a W1 timeframe lower high and on the daily timeframe, we see that it is also a retest of a D1 indecision level as a new support. Extended wicks below and short wicks on top indicate bearish exhaustion with bullish pressure returning. I'm expecting price to push past the 64,900 level where the all time high is located due to the July 21st to July 30th bullish impulse creating a 38.2% Fibonacci retracement. Feel free to comment and let me know what you think.
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Hex Golden Ratio Fib Channel LongOffsetting the fib channel from my previous chart shows that this golden ratio channel is currently strong support. If this trendline continues hex would reach $17 before EOY
AUD/USdThe market also broke the R3, R2, or R1 and the Market is going is still in Downtrend and also retest the S1. I think the Market will not the breakout the S1. Because S1 is too Strong and if the market is breakout S1 then the market will move to still on Downtrend. If the market is not Success in Breakout the S1 so the Market Change the Trend .
CADJPY: ANALYSISWe saw a strong impulsive move to the downside after a long corrective phase. We shall now keep watch on what may appear to be a small flag formation before we decide whether we will take more pips to the downside or maintain a corrective phase in the meanwhile.
Share your thoughts and suggestions are welcome! Happy trading!
GBP/JPYThe market will move in past 50% uptrend and 50% downtrend. After consolidation area market will move to a downtrend. And suddenly
Divergence comes into the market and change the trend from Downtrend to Uptrend. Now currently market will take 2 HH and I think 1 or 2 LL. After that in the future market will move to a Downtrend.
Polkadot Price Analysis with Buy areasWelcome back to yet another technical analysis on a cryptocurrency.
In this analysis, I will look at the price of Polkadot, using EMA's, trendlines, fibonacci retracement and key levels.
I assume all cryptocurrencies to be bullish still for a month or two and after that I am not sure how it will go after that.
This analysis might seem a little overwhelming at first, but the only interesting thing for you are the coloured boxes. The green boxes are buy areas, where the upper one if more of a hold area and the longer one's are more daytrades, but also less risky hold areas.
The purple areas are break retest opportunities, where price has to break through it first and then I think they will act as support.
It is very important to understand that these boxes can only be used when price actually hits them in the chart and that they are therefore limited to a certain timeframe in the future. Always make sure to do your own analysis too!
BITCOIN 1 HOUR LINING UP FOR RUN!!!BITSTAMP:BTCUSD Bitcoin's 1hr chart has just recently broken above a short term resisting trend line. Being above this trend line technically implies that there is no actual resistance for Bitcoin until 47724.05. RSI is holding a very evident bullish divergence which is a major indication for strength to come. MACD has also recently given a bullish crossover, which can be perceived as another bullish sign! We can only connect the dots looking backward and trust that they will connect in the future, and in this case, charts, and indicators are all lined up for bullishness, so the question is, will they connect in the future?