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DJI August 19 Top Setup - Be Prepared!My expectations are that earnings will come in much weaker than Q2 2018 because of the trade wars and consumer demand decreases. Yes, there will be some positive news, but I believe the markets will change dynamics based on forward guidance and Q2 earnings data, rotate lower and setup a sideways pennant formation that will eventually setup an August 19, 2019 market TOP. After this Aug 19 date, I believe the US stock market (and global markets) will likely fall 15 to 20%+ setting up a bottom near the end of 2019 or into early 2020. This move is very unexpected by the global traders. Recent psychological levels ($300 SPY, $3000 ES) have already been hit. I believe these levels were critical to the setup for this next leg lower. I believe skilled technical traders only have about 30 days to prepare for this move and I believe the move lower will initiate in late August or early September. I urge all skilled technical traders to plan and prepare for this move.
DJ:DJIShort
by BradMatheny
6
ERD is a perfect investmentHi. I'll get right to the point: ERD is a perfect investment, Transaction speed and latencies are remarkable among all the existing coins in the market... more than 10000 TPS and lowest latency possible... soon there are lots of great news coming up like being supported by Microsoft, etc. there are lots of perfect news about this.. don't miss this opportunity... if you have any question about ERD or fundamental signals, write your question in the comment section and here's my telegram ID: hadi_K_E
ELong
by Bitpostrock
5
Potential Double Top at $13,400-14,400 by Sunday Monthly CloseHi everyone! Before we get started, take a second to hit the like and follow button to get updates on this chart! This is a short-term action plan with finally some good action in the past few hours on Bitcoin. We are heading towards the Monthly and Weekly close this Sunday on Bitcoin and we should always be prepared for both eventualities. Bull scenario: (higher possibility) The IH&S green bullish pattern would send us to retest $13,400-14,400 by Sunday for a double top before dropping back down to test $11,000. The action around $11,000 will be very important as it is the long-term bull neckline from June. Bear scenario: The green IH&S would fail and we would sell off Saturday through Sunday close lower and lower below $11,000 as we get pushed by the resistance of the descending triangle. This would be the bearish continuation of our purple fractal down to $10,000-9,000 and eventually $8,700-7,600 that we published yesterday
BITSTAMP:BTCUSD
by BitcoinGuru
6
$12 or $8 dollars after... for Afterpay - Double Top TBCHi All, At a price to revenue ratio of 36:1 at the time of writing, this is one hot stock! But is it really worth it? We clearly have a formation, but not confirmation, of a double top pattern for APT. We have a clear and solid rejection at the 28.50 zone and a 10% plus drop following. I don't think things are looking good for APT, not necessarily fundamentally speaking (besides the ratio), as I know a lot of people are bullish on this stock but at least from a technical analysis perspective, one has to ask are we about to witness a major trend change with APT? Now the supporting TA; Double top pattern As already mentioned, this is a yet to be confirmed pattern. The break of the middle trough between the peaks @ 20 dollars would confirm the pattern. The red arrows provide us with a possible drop range that we might expect. The larger the variance from peak to middle trough, the larger the expected trend reversal, and this is in fact supported by the underlying trend line established from April 2018, certainly a significant trend change IF confirmed. This alone of-course is not enough, and we do have additional supporting indicators below. RSI We have a bearish divergence on the RSI, with a down trend quite clear. The last pump to the second peak was not accompanied by wider market participation, and this trend seems as though it will continue. RSI would confirm at this stage that APT is currently out of steam. A cross of the trend line with accompanying price action would invalidate this indicator. MACD & Histogram MACD is showing signs of turning to negative cycle. Interestingly the strength of the recent up trend seems to be quite great albeit short and quick as Histogram clearly shows. This would support the RSI indicator reading and might suggest the last pump was really led by a few bulls, and not wider traders/investors. MACD and histogram fall in line with a double top scenario. MA's We can see the last pump pulled back our 7 day MA's over the 50 but has failed with the 20. It does not look like its going to cross especially with the drop we had following the second peak. The 7 day is largely going to indicate where we head from here. Both 20 and 50 are some what flat lining. Interestingly, the major trend reversal suggested by the double top would not only include a down break of the 18 month trend line, but also the 200 day MA. All confirmations of major trend reversal. The MA's do tell a similar story as the above indicators and fall in line with a possible double top scenario. VPVR Our volume profiles strongly support the above TA and Double top possibility. Our value zone is below the 18 dollar mark, with the final significant profile in this zone stopping around 11.37. Below this we find the next significant profiles 8.13 and below. These targets do also coincide with FIB levels as the 23.6 sits at that 11.37 dollar zone. Failure for this too hold would give us an 8 dollar possible buy zone target. Ichimoku Clouds Its looking like we are going to break again, and we can see trend change confirmed with this indicator. Summary We have a very strong case for a double top pattern with most indicators falling in line with the same scenario. A break below 20 dollars would provide us with this confirmation and I think things might get a little ugly from there. Important FIB levels also all coincide with critical pattern events, 78.6 current support, 61.8 double top resistance line, 23.6 assumed target . I think it will be a great buy opportunity, around that price technically speaking, but accompanying fundamentals should also be closely monitored with APT in the coming weeks. 36:1 price to revenue ratios are simply not sustainable, and it is not unfathomable that we see an APT stock lower than 8 dollars. SELL / STOP TARGETS Stop loss @ $20. Profit taking above highly suggested. The above is not financial or trading advice but possible mitigations if this scenario were to unfold. BUY / LONG TARGETS Target 1 @ $12 Target 2 @ $8 and below. The above are also tentative as even at these prices we still have quite a large price to revenue ratio. Technically however we could see a bounce from these point and accompanying TA at the time would have to confirm any possible trade. Confirmation Support @ $20 fails. Invalidation; New high created > $29 with a clear and strong candlestick close. Again, in the long term this stock might be a great performer, but the analysis would suggest we are due for a trend change. Thanks guys, leave a comment and let me know your thoughts, Traders-Corner *** Any trading advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the information provided you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should seek professional personal financial advice before making any financial or investment decisions. All investment and trade decisions, no matter how well investigated, involve risk. ***
AShort
by Traders-Corner
Bitcoin: Did it top? Or will it Continue?In my previous analysis, I mentioned that there was a parabolic pattern, in addition to mentioning the price objective of it as well as other things. Well, bitcoin was shy of the price objective by approximately 1000 USD. I would say that the analysis went surprisingly well, however, I would also say that this overestimation of the price objective was due to the over estimation of the 3rd Base. That is understandable, it did however wick into my price range in that chart, despite not hitting its price objective. The Current situation: Currently, it is retesting, the upper trendline of the broadening wedge which can be seen in purple within the yellow circle/oval, a successful hold at this level would likely mean that this will continue its parabolic move, however, failure at this level would mean that the parabolic move has hit maturity and passed. I currently am expecting a retest of the supply line seen in red (its possible this may not occur as well). In this analysis, I will be covering the current move in the Chart and I'd like to mention that it is extremely probable that this is a top: 1.) Generally, parabolic moves end with a ~60% retracement of the move, historically speaking, bitcoin sees a ~70% retracements of parabolic moves. However, the odds are currently against a retracement of this magnitude, and I am expecting to see an approximate ~40% retracement to ~8000-7500 as there is major support seen within that region, (The Major supports are boxed in green with the stronger point of support being more opaque and with a bolded horizontal line). (A retracement of 60% should not be out of the question). 2.) The supply line of the parabolic move can be seen in red, from that supply line, it can be seen that there were two touches and a hypodermic top thrusting through the supply line at the peak of the parabolic move. It can be noted that there was no true secondary test and the attempt to return to the price level of 13500 was underwhelming. Given the time frame of this parabolic, the retest should have happened already. After bitcoin was rejected at 14000, re-entered the supply line which only provided an insignificant amount of support again showing weakness. 3.) Another reason why this is probably the top is, time frame, people were calling this a bull market far too early, as the previous bull market had a very long base which lasted several months, and lead to a parabolic move over a 2 year span. This one occurred only in the daily, and had bearish signs of distribution. However, it is still possible to be in a bull market, first, a higher low must be established at least to determine whether we are in a trendless market or beginning a bull market. 4.) Another bearish Note is that this is overall a V top which occurred in high volume. 5.) The weekly candle shows a shooting star currently, which hasn't closed but shows sign of resistance ahead, whether or not there are bearish implications, this candle stick needs to become a bearish engulfing or the shooting star needs to be confirmed by the next weekly candle. In addition, there is currently a failure swing on the weekly, (dependent upon how this week ends will determine whether that failure swing prints on the RSI). Previous Analyses:
COINBASE:BTCUSD
by CuddlyCuddles
Bitcoin by EXCAVOParabolic bitcoin price growth this year was a trap for the "bears". The explosive rise in prices is the usual short squeeze, which was initiated by cryptocurrency exchanges and big players, while real investors are waiting for a healthy recovery to start buying again. “Short-squash, devoid of any real volumes of investors ... I am waiting for this pump, managed by the exchanges, to end, and there will be a proper recovery. I believe that only then investors will come to the market, which will begin a real bull market. Short-squash occurs when most traders open short positions (lower prices, short). In an effort to knock them out of the market, large players began to buy huge amounts of Bitcoin, raising the price, forcing the shortsists to close their positions. This price movement is usually very fast. When most of the shorts are eliminated, the short squash closes, since there is no longer any sense to keep buying. We are now at this stage: “At the level of $ 8000-9000, the majority moved from short positions to long ones. This limited the short squeeze ... Currently, the bitcoin market price has outpaced the influx of organic investors. Never before have we seen such a divergence at such an early stage of the bull market. The analysis is not pessimistic, but represents a cautious approach to the explosive growth of prices. The conclusion is that, with a probability of 95%, the bottom of Bitcoin has already been passed in the current market cycle. If you like my work, please support it by clicking the LIKE button! Thank you for your interest!
COINBASE:BTCUSDLong
by EXCAVO
30
Has BTC Topped?BTC currently completed a 3 drive to a top, with FIB symmetry. Whilst also being in the middle of a a Right Angled Ascending Broadening Wedge, talk about fuckery. The bearish side of the wedge is, if price fails to reach the upper trend line, it's a big indication that price has topped, price should come back and test the lower support line, bounce, retest the support line and fall through it. The oscillators (RSI and Composite Index) are following their respective trend lines. The chart on the right is with a pitchfork added, it blows my mind that the fibs overlapped and crossed the 0.5 line at the exact place price topped out... No doubt we are bullish, but the weekly chart of BTC 2011 the bear market ended with divergence, that's how a bottom is in same here in 2014 - for the end of the 2018 bear market there has been no divergence (except on the daily) - the monthly chart for BTC in 2014 again ended with divergence - monthly chart comparison - both have made W bottoms, a bottom isnt sustainable if its made by a W as seen in 2014 (needs divergence) monthly C Index and RSI are both at their respective resistances - the RSI for the monthly is still technically in a bear market whilst below the 65 level On the bullish side of things, lord have mercy on the bears if we breach this 3 drive to a top, price will moon. The Fib Kid.
BITMEX:XBTUSD.P
by The_Fib_Kid
BTC Accumulation, it is long for the king I disagree with my colleagues regarding further downward BTC movement. Personally, I do not see enough arguments for this, but rather the opposite: a strong bullish trend, market maker accumulation for the desire of the crowd to sell, an increase in the number of shorts and also what is important - fixing positions by ordinary traders (see VSA). MACD has already dropped local overheating, and is ready to start a new bullish cycle. RSI is similar. By the principle of inertial analysis, we are also in the balance stage, and the level of success (7200) has not yet been broken, moreover, we have not even approached it. All this structure also resembles a triangle, or at most a flag. The only thing that really bothers me is a candlestick analysis of weekly TF, there we have a whole set of reversal patterns: Rickshaw (a type of doji, and bearish absorption) However, we also see a similarity of the “Clearance in the Clouds” model - this is a bullish reversal model, and it is desirable for us to close the week above 8100, so that there is more confidence in the strength of the bulls, and reduces the value of previous bearish models. Let's go back to VSA (we will then make a small article on this type of analysis) we see that all the straits are redeemed at an increased volume, followed by a candle up, based on the theory - the market maker picks up a position about smaller players, giving them the opportunity to sell. After this process, growth usually follows, since all the interest of the seller was bought out in the flat, and in the future just no one will sell the asset, which will give him the opportunity to grow further. I don’t see in this flat range a shopping climax, and this may in part be the distribution stage, this is indicated by increased volumes on bullish candles, but we cannot get into the heads of the owners of funds and banks, and find out their goals. We only see what the chart shows us, and I don’t see anything SHORET personally. Bitcoin is in the correction for the decline, it only changes the trends.
BITFINEX:BTCUSDLong
by IgorPorokh
22