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BTC Testing support now as we speakMini bearflag broke down perfectly, and hit my target. It wicked below it quickly but support ended up holding until it bounced and came right back in. If where we are currently at 8770 doesn't hold and 8k is our next spot of good support. Buy volume is not looking that strong, 6k is totally possible in the short term. We may just need to visit and test that bottom before having our days of green again. Notice how the thin red down trend line from our previous highs is acting as support as well.
COINBASE:BTCUSDShort
by tokeylokey66
Keep your’s coolThe red dashed down trendline, which is also the upper borderline of the channel, is of the past. The price of Bitcoin is above that important trendline. Resistance R1 at 10902 was also tested, but could not yet be sustainably overcome. I expect a retracement and another test of the red dashed down trendline. The double support of the red dashed down trendline and the Pivot point at 10514 are probably strong enough for keeping Bitcoin above the channel. This will be the long awaited confirmation of the newly established bull-trend. I will wait with a trade until resistance R1 at 10902 will be sustainably overcome and the target at 12000 comes into reach. Alternative scenario: If Bitcoin enters the channel again, it will touch the blue curve once more and be reflected there. Should it break through the blue curve, the down target of 5511 comes into play again.
BITFINEX:BTCUSD
by luckyhelper
2
Bitcoin: BTCUSD On Important Support Right nowBitcoin. Clock-Work 05:53 est another 01:00 gmt low, another at 06:00gmt. And high at 10:00 - right on the upper parallel where longs who bought at 6am have closed out for 450 points - day's work done. Now has to climb above the upper paralle and hold there on retest once broken to turn back to bullish again from here. Unlikely in very nearterm but it's trying hard here. We have had 4 waves down which is standard stuff for Bitcoin so this decline could be over but it still has some work to do to bust above the mass of resistance gathered above it from here...the old neck-line - can only get long from here once the upper parallel is busted and held - all it's done so far is a nice little counter rally to exactly where it should stop. We got some far Eastern interest at 01.00 and some European interest at 06:00 and now we'll need US interest to help it move higher from here - in meantime it needs to unwind a little. So far it's holding at 10100 but when this gives way it should fall back to support at 9965-9855 07:07est Last low on Bitstamp at 9935 with a nice spike under it on 15 minute - and now we have a break of the upper parallel and test of the first line of resistance at 10254 as early birds in US catch the worm - likely to push on up to the neckline by 14.45gmt, maybe in the 15 minute candle on US official open - if you got long on the last dip as above stay with it and raise stop to just under the low at 9930 for small loss if wrong from here. Look to close out in the 10300-10350 range where fixed and dynamic resistance begin to merge. But we 've broken the down-trend and need to be ready to get long again when and if that uppermost dynamic/old neck-line is broken above and held (now at 10345) - can follow the break with stops below 10300 when it happens. Bulls have 4 waves down which signals potential completion - but the bears have that Head and Shoulders on their side still - bulls gotta break that neck-line next big test - then we are off to the races with a relief rally - but not until...day traders are using the smallest dynamic here on 3 minute by look of it... 09:09est After moving sideways above the parallel for a while Bitcoin has come back to life as expected with US opening. Now testing the target at 10300-10350 with a spike high at 10372 on bitfinex....so closed out and looking to buy again lower , maybe only as low as 10300 ... 09:14 Had to get that uploaded quickly - so this is looking good again - has just poked above the dynamic/old neck-line on Bitstamp which is the big test now...buying across 3 continents - just neeed to beware a suck in here though...but if it can hold up here above 10350 and the dynamic this is going to rally very well now...
CME:BTC1!Long
by sumastardon
DXY. Dollar Index Testing important support at 93.04DXY Dollar Index DXY is testing critical supprt at 93.04 which must continue to hold to avoid a further substantial fall to 92.74 at first, and then, after a mild bounce back to 92.55-92.50 range. Looking a little further out, the 92.50 level represents major support for the medium term. Should this level fail to hold at any point over the coming week it will tip the dollar into bear territory once more and force it back by 1.5% to 91.01 where it becomes a buy once more with stops at least 7 pips lower.
TVC:DXY
by sumastardon
1
ETHUSD At Top Of its Tree in Near TermETHUSD At the top of its tree in near term Although ETH has struggled for a large part of the last 30 days, it has now doubled from a low at 313 to today's high at 626. Not bad for a straggler. But it's probably at its upside limits in the near term here and needs to consolidate some more below the upper parallel before it can go again. May well hammer out a small flag for the next few hours, especially if 617 keeps stopping the next advance. To clear the way for the next advance from hereETH would have to find enough power to beat the upper parallel and then to turn it into support on the next retest from above once broken through. Can either close out longs here and lock in profits and be ready to buy on a successful near term break above the upper parallel or potentially to buy again from lower down, from 577-551 range.
BITFINEX:ETHUSD
by sumastardon
UKOIL: Brent testing support off the old highs. Strong stillBrent Crude Oil UKOIL Brent recently broke the long term parallels that had carried it faithfully within its force ever since the lows at 44. Now it's almost exactly 50% higher, with a new high set at 65.70. We were short on the break below the parallel and then closed out around 61.15 for around 90 pips profit. Good thing we did. Bad thing we didn't go massively long again there with stops just below for a tiny loss if wrong at that point. Easy to say now, and we would have in 'normal' circumstances, but that big broken parallel above was stopping it from even being contemplated. What a shame. A parallel that had been so faithful for so long now let us down with a poor technical signal (in hindsight only, unfortunately) for the first time since inception from the lows. Sometimes even your best girl/boyfriend can let you down. The resulting 450 pip rally has blown every bear clean out of the water, creating a massive impulse wave which is contained within the parallels shown on the chart. It is now probing the intersection of the lower parallel with fixed support at 64.25, the old highs - it's a buy here with stops below 64.15 for small loss if wrong. It's a sell again when the upper parallel is tested . Brent remains strong whilst travelling within the impulse wave and only turns near term negative again for test of 63.03 if the lower smaller parallel is lost at any point from here. Until we see that happen, look to buy dips to this smaller parallel with stops below it by 15-20 pips
FX:UKOILLong
by sumastardon
SHORT Short term bearish move in BitcoinI see bitcoin dropping to around 2k and possibly lower, saw a good setup so I thought I would share with you guys. This is in a bull trap right now and needs to test support it also has a very good risk to reward for shorting. If you own bitcoin it might be smart to take some profits and cash into something else (altcoins - fiat ) . another good buy opportunity will arise 5.04% at some point here soon but for now we didn't have enough upward momentum to make the bullish move to 5k. I will keep you guys updates! let me know if you have any questions in the comments below. Thank you!
BITSTAMP:BTCUSDShort
by High_Altitude_Investing
11
CADJPY Possible Harmonic Move? I Haven't traded this pair but need to practise my Tekkers so thought id give this pair a go, from top down Monthly, Weekly, Daily levels and see what I could see and practise my strategy First thing that stood out was we have tested the Monthly level at 88.882 which seems to have been a strong area of resistance in the past. I then see we have a 2618, it went more to the 786 level but still a strong sign that we could see a trend continuation to some lower levels, so where do I think based on what I can see and whats happened? Looking at a fib inversion and extension we have a couple of 1.27 levels line up, also looking a the most recent impulse leg up on the daily/weekly we have the 786 level come in as well, look left and this does fall in line with some previous structure as well This move down would also be a equal measured move to the last impulse leg down. will see how this plays out, always good to exercise that idea muscle
Short
by Wonour