AMZN Rounding Top Hits SupportAmazon bounced off of support, after falling quickly at a steep Angle of Descent™, and the bounce has not reversed the trend. Support is weaker due to candlestick formations.
TOP-6
LTC TOP? Couple of indicators says so.What's coin on guys?
A couple of indicators are pointing LTC correction is on the way.
1. Price action combined with fibs has gotten LTC right in the golden pocket of previous range (61.8 – 65%)
2. Daily RSI bear div
3. Daily histogram bear div
4. Volume div
5. Top of the raising channel resistance
6. Rising wedge
7. BTC NVT still burnin' red
8. Market sentiment bullish again only because BTC bounced of of the neckline.
LTC actually finished and confirmed cup & handle pattern with the target of around 90% of the previous move, but there is a lot more bearish indicators, so odds are on the side of bears, but never the less my stop loss will be very tight, just in a case whole market decides to fly again.
Some short term scalping on BTC from the top downThe positions available on the micro timeframes today line up with the macro perspective really well.
It's a clear chart and I'm happy trading this volatility throughout the week!
Bitcoin: BARR - Bump and run reversal (Bulkowski)Lead-in: angle not too flat, not too steep - visual assessment okay (scale varies, ~25-50 degree angle for reference)
Bump: angle should be ~50% greater than lead-in angle
Bump validation: distance from bump line to highest high should be at least 2x the distance of lead-in line to highest high
Reversal: look for top patterns and descending peaks
Run: once lead-in line support is broken, large decline occurs - sometimes retested and support becomes resistance
How we correctly predicted Bitcoin's crashThe longest over expanded period period's 1.25 standard deviation was crossed and bitcoin has entered its compressionary period to restore the market to a state of potential energy. Trend cannot continue until the 225 period WAVE PM compresses below the 0.7 value, which should result in a sustained sideways move.
This will be the beginning of alt season.
When BTC goes up, alts dump.
When BTC goes down, alts dump.
When bitcoin does nothing is when alts have the legroom to thrive.
I will be attempting to buy the dip on BTC and enter relevant altcoin longs at the same time.
ENG RVN and XRP immediately come to mind as having high upside potential.
For more information on the terminology used here,
Bitcoin longterm price prediction for next topThis prediction is drawn on the Bitcoin Liquid Index on a logarithmic scale with the halving cycles visible. It shows that next longterm price top will be end of March 2021 at around $76,000 USD.
Bitcoin: Potential Bearish Divergence TargetsCoinSavvy here with a price update on Bitcoin . Things have changed, and I want to update my analysis and my trade game plan. I have exited my Bitcoin position as it closed multiple 4-hour candles below $8400 (see “Bitcoin: Higher Time Frame Breakout Series – Daily” linked at the bottom of the page) for my setup there. I had entered in around $7400 ever since the 3-day chart told me to enter when it closed above the 200-day sma (see “Bitcoin: Another HUGE Move is Brewing!” linked at the bottom) for my setup there.
Now that we had a giant rejection at $9,000 I want to gather some information in case things turn over for real here. Tonight, Bitcoin closed the daily, 2-day and 3-day candle around $8275 but more importantly it put in a low right at $8,000. If we tick back down below $8,000 with these new candles, then that would be considered a local top which would print out some pretty nasty bearish divergence on these time frames with the RSI as we have higher highs on price action with lower levels on the RSI .
When it comes to bearish divergence I have been seeing price tend to come back down to its 21 ema (bold white) so I marked these levels on this 3 day chart of Bitcoin with horizontals. Below are the levels and where they correspond to the other time frames.
Daily - $7,850
This is where the 21 ema is on the daily
2 Day - $7,100
This is where the 21 ema is on the 2 day
3 day - $6,600
This is where the 21 ema is on the 3 day
These targets are not able to be used until we actually tick past $8,000 and most likely want to wait for an hourly or 2 hour to close below that level which would indicate that this is a local top and now we have divergence to deal with.
Bullish case :
If this does not play out (quite yet) so if we start closing 4 hours above $8,400 soon then we must switch around the game plan to bulls business as usual as that would indicate that this overall bull trend upwards not quite done yet, however it is really starting to look like things are ready to turn around with all the medium time frame indicators turning bearish and the higher time frames starting to turn around. I have my eyes on something else at the moment (shorting the S&P ) and don't want to get too greedy with Bitcoin as it's been great to us so far so we will see what happens but I don't plan on entering a position for a while in Bitcoin as long as these divergences are playing out. Keep an eye out for both scenarios each time and it will keep you sane!
I will post something about SPY and SPXS tomorrow afternoon
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
Bitcoin: Hourly Bear FlagBitcoin has increasing price with decreasing volume on it's attempt to recover from that bear move... Not what the bulls want to see, I see this next target somewhere around $7,750
This will kick off bearish divergence on the daily, 2 day and 3 day time frame whose indicators are already starting to turn over... I will post that in a separate article.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
Is this the exact top for btc?Some soft signals that this is potentially the top today. Super high risk so position sizes should obviously be small.
S&P Seljun Top - End of Cyclical Bull MarketThe Seljun pattern has a very high probability of locating long term tops and bottoms ... and has formed on the S&P500 ....
A final confirmation would be a weekly close below 280 on SPY
Does the profit booking started ?Does the profit booking started for Kotak Mahindra bank , Tweezer top and OPEN=HIGH formed on top of the chart ? expecting it will go down from here.
Did you buy the dip?BTC has been fairly steady within a somewhat defined channel. It broke slightly below this channel momentarily and looks to be rebounding right back into the very same channel where it was before. If it tests the top of this same channel I will look to short the top and long the bottom of the same channel, and repeat.
NKE Double Top on Short-Term TrendDouble tops seldom decline steeply. The current price has not dropped through the top completion level. If it breaks through that support, the target downside run gain is around $78.
This is How I Shorted The Top on XBTWhat a week. Since the beginning of the week at May 6, XBT/USD has increased over 36%. Some say it is manipulation, others say that the bull run is in full effect and there is no looking back. While I don't personally disagree with either of those opinions (of course the crypto space is manipulated), we must still pay attention to long term trends! Last bull run, weekly price swings of 30-40% were not uncommon and I do not think this one should be treated as a red herring or an anomoly.
After smashing through 5179 and what I at the time saw as resistance (which I decided not short as there was no confirmation below channel support - phew), bitcoin has continued to climb higher, ignoring every single resistance level in it's inexorable dash towards 7585. In hindsight I should have played the channel a bit more but with all the uncertainty, strength, and overall volatility of the market there was not enough confirmation for a position and I was happy to sit this one out. I must admit my bearish mindset got the better of me here.
However, if you look at the chart, you will notice I took a measurement from the low of December 2018, to the high of the massive pump that took us out of the 4000 ranges in week beginning April 1st. I then copy/pasted the same measurement and extrapolated the same distance again, ending with a price of 7575 which I placed a sell order which I honestly did not expect to reach this week or even this month. After we proceeded to hit 7585 and after a strong price decline, I moved my stop down from 7720 to 7392 just in case of another squeeze higher, allowing me to re-enter later if need be.
Interestingly, the RSI is nearing its all time highs, and we have blasted through the weekly upper Bollinger Band both of which add a small amount of weight to a short-term bearish outlook. If we break below the 7000 level (which we have already retested twice on lower time frames), I will be looking for volume and momentum to force the newly opened longs to close their positions and add some downward force; potentially to the 6400 level and then the long-time support of 6000.
Time will tell how this plays out. For the moment I am content to leave my stop and let it ride out, as I see a possibility to take profits around the 4800 level which sits at the 0.618 Fibonacci retrace from 2018 lows to the current high (I have left this Fib retracement out for tidiness sake but you can make your own measurements on this one). Before reaching this level however, I will be looking to see how price reacts to the 5450 level if price does end up declining below 6000, to see if there is sufficient evidence at that time to suggest a further decline.
If price reverses and I get stopped out, I will undoubtedly change my perspective based on S/R, current market trends and price action. In trading, those to cling to a narrative, tend to be blinded to the next move (5179 anyone?). Yes we are all susceptible to bias. Don't let it cloud your vision.
Stay on your toes.
STILL FEEL BULISH? What's coin on?
Well, there is a lot of things I could describe here, but I won't, because I charted pretty much everything relevant to my current bias.
All indicators are indicating top, and potential reversal here. I could be wrong, but that option is less likely. Some indicators have still to confirm bearish divergences, but one thing is for sure, this rally has lost a lot of its strength.
SPY has topped out, signals end of 10 year bull runThis is my first and (maybe) only trading idea on TradingView, but I think it's important to share.
With the global economic growth slowing and multiple pressure points looming (Brexit, trade war, political unease around the world), SPY is flashing a double top on the weekly, and technical indicators are showing significant bearish divergence, building since January 2018. The pattern of course hasn't completed yet, but volume here tells the story. The selloffs have been far more intense than the BTFD buying. This suggests to me that institutional investors are dumping on retail.
I'm staking my flag here at the top and marking the end of the longest bull run in modern history. All good things must come to an end.
BTCUSD moment of truthHow it might play out within a few days...
Please feel free to discuss the current BTC position with me. Let's gather some bulls in here!
Trouble ahead It appears that the bull in time day 87 near my may april 26 to may 12 focus may top has reached the projection 2953 to 3015 focus 2975 based on the chart posted here Risk is higher now . that 2973 jan peak but here is the math for fib students jan 2018 2873 peak from jan low 2016 traveled 1063 sp points 2873 -1810 low the distance travel from my projected panic low 2334 to 2278 target gave me a few targets 2852 where we paused and now 1063 x .618 = 657 plus 2347 = 3004 but 2957 is 610 points a fib point 144 233 377 610 987
