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GOLD 1W & 1D perspective. Hello traders, This is my first public speculation on gold so take this with grain of salt like any opinion but this its what I see . I normally trade cryptocurrencies and post about crypto but some assets I can trade with BTC and AU its one of them. I did made some profitable trades going long in long trades and going short on gaps. I'm not a big fan on going short unless we are in bear market and its obvious direction in long perspective . I have strong feeling that gold has bright future with current market situation . If you are new to my post I'm invested in BTC witch I got in early when everyone was scared to enter and posting Doom scenarios. I on the other hand have bean accumulating and planing on staying that way for some time and have goals in mind but that is different story and not the topic . So as we can see gold its barely holding to 1M pivot and hitting weakly support levels. It can go up a little from here but in longer perspective I believe drop its coming , We are leaving high node area and not much action under until the demand area . I'm looking on golden ratio level to bounce from and I think this will most likely happen under current price moves. Gold had nice run witch its not over but its time to pull back IMO and check the demand area to confirm more uptrend , If we just keep going up from here that makes thinks even better. Traditional markets are Hot and extremely hard to get grip on even for the best speculators out there . Can DJI hit new High who knows. 08 recovery happen way to fast and IMO and was not covered by anything beside FED constant print and throwing USD to the market to make it look good, will see how long they planing on doing that . With that in mind we all know how historically people flea to AU when market hits the fan . Long story short Im looking on going long from golden pocket and I will be watching that area to enter longer trade . Making more Digital gold with traditional assets its my long time goal as investor. People always say buy gold and I say buy gold mines .. ( Yes I buy mineral rights and keep doing it. I love prospecting there for I have no interest buying gold at all when I can go and dig it out ) As always only think you control its how much you loose so Risk Management its everything in this game . Please share your opinion and let me know what you think .
TVC:GOLD
by PTO
BTCUSD H4 chart (9/6/2019)Good morning, traders. Price finally began pushing up a bit later into the evening, yesterday. I'm still looking for the $11100-$11200 target. But traders should make sure they're watching the yellow box. That's $11050-$11250 which is the ascending light grey dotted channel resistance to the descending red dashed 2.5 month resistance. Based on the height of the orange local TR, the target should be close to $11190. H1 Stoch pulled back a bit and now has room to pop. H4 continues to have a good bit of room as well. The H4 RSI is printing bearish divergence. However, there is still 2h left in the candle so it's a possibility, but not a done deal yet. That being said, I wouldn't be surprised to see it print as I am initially expecting a pullback at the confluence of resistance overhead. What I find very interesting at this time is the H6 RSI nearing a break of its 2.5 month resistance. It seems more likely than not that we may get a good pop when/if that happens. Daily continues to look good after the two dojis, other than the Stoch RSI being so well into overbought. But as mentioned multiple times before, it can remain this way for weeks. You might've noticed the ascending pitchfork is a bit different. I changed the final anchor to what I believe may be the end of wave 2. In doing so, the current possible end of wave 4 is almost lined up perfectly. If that's the case, then we usually expect wave 5 to target a parallel line from wave 1 or wave 3. The shorter blue target is based on the height of the symmetrical triangle that has been printing since June and the larger blue target is based on the height of the flagpole if this is a pennant. Note that the latter target aligns with a parallel line from the end of wave 3. Until price actually gets above the descending red resistance and the June swing high, we don't have to think about these larger targets much, but just keep them in mind if we head up sooner rather than later. Don't forget the D3 printed and confirmed hidden bullish divergence with the last candle which also confirmed the hammer reversal and was bullish engulfing. Finally, weekly hidden bullish divergence confirmation is in play with the weekly candle printing a large bullish engulfing at this time and RSI pushing through its 2.5 month resistance. Stoch RSI is attempting to cross bullishly on this TF as well. But we still have another couple of days left in the weekly, so no counting chickens before they're hatched. Starting next week our Bitcoin market analysis and morning video updates will no longer be free. However, we are providing a significantly inexpensive option for traders who are members of our free Discord. Benefits include access to our premium Bitcoin channel where Bitcoin market news, info, discussion, trading tips/tricks, and analysis is provided throughout the day and night by TWC and our members, multiple daily video updates and live streams, and discounted full premium access just to name a few. If you are interested, be sure to join the free Discord and look in the announcements section for details and pricing. ____________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
20
BTCUSD H4 chart (9/5/2019)Good morning, traders. Nothing has changed since yesterday's update. My expectation remains to see price targeting the green daily supply/R2 pivot/descending resistance area and ultimately $12000+. At this point, the H4 chart shows us that the only thing that has happened is that price has been consolidating at the local TR's resistance/R1 pivot as we would generally expect after a Spring below the TR's support. In terms of volume and candle spread, we saw them both expand as price rose and we are seeing them contract as price pulls back and consolidates, suggesting further moves to the upside. H4 Stoch RSI bounced off the bottom of oversold and is attempting to cross bullishly. H4 RSI remains bullish at 64.5 and is curling up. Zooming out to the daily, overall volume has continued to contract as price consolidates. This adds support for the thesis that a possible ABCDE triangle may be printing. If that's the case, then we should expect a move to the descending resistance to complete the D leg and an ABC pullback to complete the E leg. After that, volume should begin expanding and candle spread increasing, especially as price crosses the descending resistance. After more than two months of consolidation, this could lead to quite a pop so traders should be paying attention. Daily Stoch RSI is overbought, however it can remains so for quite a while. On the previous move up it remains overbought as price rose 50%. All this being as it is, price has not definitively made a move in either direction so traders must remain cautious as this consolidation comes to an end. Remember, we don't trade what we want to happen, we trade what the chart says is most likely to happen at that time, and then we make sure to employ strong risk management in case we are wrong. If you are trading any other way, then you will lose much more money than you ever make in the market. In this case, the larger picture is the 2+ month consolidation. Confirmation of price's movement out of the consolidation should be the trigger to enter, not what's happening inside the consolidation. If trading right now, then you should be concentrating on shorter TFs and looking for smaller profits. ____________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
4
BTCUSD W1 chart (9/4/2019)Good morning, traders. The D3 candle closed as a massive bullish engulfing candle which confirmed the reversal indicated by the previous candle close as a bullish hammer. Yesterday's D3 close also confirmed the hidden bullish divergence on that TF. This should indicate further movement to the upside. Additionally, the weekly is in the process of confirming hidden bullish divergence as well. It is only Wednesday, though, so with half the week remaining anything can still happen. But it's pretty safe to say that if the weekly confirms the hidden bullish divergence at close, then we should most likely be looking for at least a few weeks of bullish momentum. Remember, hidden bullish divergence is a continuation indicator. That means that when it confirms we should generally expect price to continue its bullish momentum. In this case, it has been confirmed on the D3 and may be confirmed on the weekly, which are both large TFs indicating that the effect should be substantial. Weekly TF shows that price has remained within the Andrews Pitchfork's outermost extended channels while currently engulfing the previous candle's body bullishly. Additionally, the weekly RSI is attempting to move above its resistance while Stoch RSI is curled up in oversold, nearing a bullish cross. Traders should continue watching volume, especially on the daily and larger TFs. At this time, it continues to contract as price consolidates, suggesting a possible symmetrical triangle is being printed. If we see expanding volume and candle spread on these larger TFs, then we should expect price to continue in whichever direction its going as it prints. As a reminder, price is doing nothing other than consolidating at the 2018 TR resistance. The weekly 21 EMA continues to rise up to meet price and the VPVR nodes start dropping off as price hits $10800. Daily price action is consolidation on top of the pivot, above the daily 21 EMA. RSI broke thorugh its resistance and is currently nearing a retest of resistance as support. A successful retest should have price initially targeting the descending resistance in the daily supply below the R1 pivot. The target for the descending red wedge seen on my daily TF, if you make it yours per the instructions below, is around $12300. ____________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
3
BTCUSD H4 chart (9/3/2019)Good morning, traders. Price has continued to follow the path outlined in Friday's analysis. While I did not post publicly yesterday, since it was our holiday weekend in the U.S., I did leave an analysis for our premium Discord members. At this point, price is confirming the weekly and D3 hidden bull divs. RSI is now above its resistance on the daily and D3, and it is attempting to push through on the weekly. D3 Stoch RSI has crossed bullishly in oversold and the weekly Stoch has curled up and is nearing a bullish cross. The D3 price last printed a hammer candle suggesting a reverse may be in the works and is currently confirming that possible reversal with a large-bodied green candle which closes at the EoD. Although we have seen expanding volume and candle spread on the daily so far, volume continues to contract overall so traders should remain cautious that this could just be a bounce. At this time, price is above the daily 21 EMA and is finding resistance at the pivot. Price is back above the TR's EQ and has broken above the red descending wedge's resistance. This should have price targeting $12330 which would break the descending triangle that everyone has been obsessing over. It will also print another higher high. Remember, price has been printing higher lows and highs since the July 17th swing low. Zooming into the H4, we can see that price stopped just shy of the supply EQ/R1 pivot at the top of the local black TR. H4 RSI and Stoch RSI are overbought, suggesting a possible pullback toward $10150. However, it is possible for us to see price consolidate in the current area before pushing higher as well since H1 Stoch RSI has bounced off the bottom and is just pushing out of oversold. It all depends on the demand. Once above the local TR's resistance, price should be targeting the R2 pivot, above the large TR's resistance, just below the green daily supply's EQ and the large descending resistance. (NOTE: This was written for our premium Discord members who received it earlier. Price has continued up from the point of consolidation at this time, rather than pull back toward $10150.) ____________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
1
BTCUSD H4 chart (8/30/2019)Good morning, traders. While Kraken didn't register a bullish SFP at daily close yesterday (missed it by $6), the rest of the exchanges did. So we should consider Kraken an outlier. With an SFP printing yesterday, price should head higher, and so it has into today. However, volume remains lackluster at this time. There was a spike in volume right before yesterday's daily close. The very local M15/M30 TR that price is currently consolidating at the top of should provide a target of around $9800. While price is struggling with Stoch RSI on the H1 and lower TFs, the H4 remains primed for a larger move up after RSI printed bullish divergence. On the H4, we can see price finding resistance at the H4 supply block just above the S1 pivot. In the bigger picture, price has actually found its way back into the larger TR. This failure of price to follow through to the downside, as I warned our Discord members, means that we should likely expect a bounce. However, until we see confirmation of a reversal, that's all it should be seen as for the time being. A solid push through the $9800 area should have traders looking for price to target the TR's EQ at $10000. The next step would be the EQ of the orange supply at the top of the TR at $10530. If we see expanding volume and candle spread as price hits that upper target, then we should expect price to likely continue higher toward the $11300-$11450 range at the R2 pivot/descending resistance. Don't forget, the U.S. has a three day holiday weekend with many people taking off today as well. So we could see a drop in participatory volume which may lead to some strong movements this weekend. Trade safe and remember that the only thing you control in the market is how much you lose. Risk management is the single most important thing you will ever learn in trading. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
3
BITCOIN: What comes after this boring range ? Hello dear traders, Let's keep it simple. In our previous idea , we had considered a retest of the 10100 zone before initiating a move of a higher magnitude. The area acted perfectly as support and we closed this very short term trade with good profits. Let's proceed together to a new analysis: Trading plan: - Daily close >10400 and I think we will see 10800 and 11400 quickly. - Daily close below 10088 usd, and I think we see a retest of 9800 and potentially 8750. A StopRun is also possible, showing a halt in the decline towards the low 9k only. Be careful, the level of 10,088 usd is a monthly level which will therefore have to be redefined with September open level. - Short-term bias: Neutral waiting for the trading range to break. - We highly recommend to avoid intraday trades considering this lack of directionality. - For live updates on btc & alts, and for free trade ideas, follow us on twitter and youtube (Fresh launch of two channels: English channel with English & French subtitles, and one channel in French only). Daily: a/ Market structure: Macro Bullish structure still intact, but neutral for the moment since the price evolves in a trading range between 10400 and 10.100. We didnot close under the monthly open and didnot break the support, so the idea of a swingshort didnot trigger. A daily close above 10400 and we will touch up the 10800 area very quickly, with a target of probably 11400. However, as a reminder, a bearish swing could appear if there is a daily close before the end of this month under 10,088 usd bitmex. b/ RSI: Neutral. c/ MACD: Under line 0, and under bearish crossover. A crossover bullish could happen soon. 4 hours: a/ Market structure: The price also evolves in a range, of smaller amplitude between 10200, and 10100 approximately. A H4 close beyond the mentioned boundaries allows a rapid movement to 10400 or 9900. This would be an intraday opportunity, which could be part of a larger daily movement that can finally trigger. A test of the 10,400 would not be a surprise for me. b/ RSI : Neutral but found some resistance and brokedown an ascending trendline. c/ MACD: Bearish crossover, and near the 0 zone, all without momentum. Neutral. Cheers!
BITMEX:BTCUSD.P
by SubvertoTradingClub
2
XBTUSD H4 chart (8/28/2019)Good morning, traders. Yesterday I spoke of the short term possibilities based on current action and how it could lead into longer term possibilities. But I warned you to take it one step at a time. So here we are today and not a whole lot has changed in the overall movement of the asset. As such, we will zoom out once more and pay attention to what I feel is most important at this time. This means we are going to look at the H4 chart. Here is what I'm watching, more than anything else, at this time. This H4 chart shows the top of the 2018 TR (green horizontal line), summer TR (black horizontal channel), and local distribution and current accumulation(?) TRs (orange horizontal channels). As I have continued to mention for a while now, the H4 RSI moving above its resistance is likely to be the indicator to go long for a pretty decent move, and it remains the single most important long indicator I am watching. Stoch is bouncing off oversold and is curled up. Within the local TR, we can see that price has been supported by the TR's EQ, and the lows continue to push higher. This is all happening on the larger TR's EQ. In both cases, this tends to most often be bullish as it shows that demand is significantly present in relation to overall volume at those levels. That doesn't mean we just YOLO long, however. We need confirmation via expanding volume and candle spread as price rises toward the top of the TR. The blue zone is demand and orange is supply. Price is currently attempting to push through the 21 EMA and the pivot. OBV has continued to rise while price has traded sideways in this TR suggesting that smart money may be accumulating. The nearest upper green box target at the R2 pivot is based on the height of the current local TR. The green box target at the R4 pivot is based on the height of the triangle. But there are two possible triangles playing out right now. Those targets are based on the larger one. If the smaller triangle plays out, then we should expect price to drop through support and print a Spring for the larger TR. In that case, the green target box between the S2 and S3 pivots is based on the height of that triangle while the green target box at the S4 pivot is based on the height of the flagpole leading to that triangle/bear pennant. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
KRAKEN:BTCUSD
by Chris_Inks
2
BTCUSD H1 chart (8/27/2019)Good morning, traders. Price may have bottomed out this morning at $10033 which is just below the general low I mentioned that price may hit before reversing back up. I'm not a fan of the expanding volume on the individual drops, but overall supply volume has continues to contract significantly through the entire move down from August 25th's swing high suggesting, at minimum, a bounce. The 15M RSI printed bullish divergence at this morning's swing low but its important for traders to watch for RSI to push through its resistance on the 15M, 30M, or H1 TFs. Speaking of the H1, price printed a nice bullish hammer reversal which was confirmed by the previous candle's large green candle body. The initial target is the ~$10360 level with the possibility of a larger move up to ~$10660 following that. As we can see, price is currently held in check by the H1 21 EMA. If price can close above that EMA and the descending resistance, then we need to see continuing expanding demand volume and increasing candle spread as price moves up. If we don't see that, then traders should proceed with caution as price is likely to turn around and head back down again. The secondary, higher, target takes price above the descending channel resistance and triangle resistance, setting up a target of the ~$12600 level, just above the current H1 R4 pivot. At that point, $14200 becomes much more likely. But traders should be taking this one step at a time until they see confirmation of demand in control. And, as mentioned above, that confirmation will come in the form of expanding demand volume and increasing candle spread as price rises. Never trade what you want to happen; always trade what the chart is telling you is happening. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
KRAKEN:BTCUSD
by Chris_Inks
1
BTCUSDT D1 chart (8/26/2019)Good morning, traders. With price continuing to consolidate, as mentioned last week it's more important for traders to zoom out. The daily shows us that price was printing lower lows and highs until the June 17th swing low. Since that time, price has printed higher lows and highs. However, price has moved sideways for the past two weeks with price printing wicks below the local TR's EQ, which is just above the larger TR's EQ as shown. The D3 RSI is attempting to move above its descending resistance as price attempts to close above the 21 EMA. However, the current D3 candle just opened today so there is a lot of time left in it. Weekly RSI is still attempting to confirm the recent hidden bullish divergence but it is also nearing its own descending resistance. As a matter of fact, the daily, D3, and weekly RSI should be watched. A close above these should be an indication that price is in another uptrend. There was strong volume on the move up last night as the H4 candle pushed through the 21 EMA on that TF, but price has yet to follow through. That doesn't necessarily mean it won't, but traders need to remain cautious as a failure to follow through should see price reverting downward. At this time, price is finding support on the H4 pivot at the HVN and just above the 21 EMA. This has the H4 RSI attempting to move above its resistance. Shorter terms traders should be watching the ascending H1 RSI support. Stoch RSI on the H1 has hit oversold and is curling up as Stoch on the M30 is doing the same. For now, a move up from here would have me looking for price to target the R1 pivot on the M30. This would be around $10800. The daily pivot sits just below that at $10750. The blue daily demand zone continues to be where traders should look for a support. If it gives way, then we can expect price to potentially push as low as the daily S1 pivot currently sitting at ~$8400. A close above the daily supply in the mid-$11000s should have price continuing in another bullish push toward the ATH. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
by Chris_Inks
2
XBTUSD D1 chart (8/15/2019)Good morning, traders. Last night is a good example of why, if you're correcting in a bull trend, you want to wait for confirmation on larger TFs before entering long. Many traders are fearful of going long now, and a lot of them are even short. Here's a reality check, though: for as far as price dropped the past two days or so, the volume was nothing special. It wasn't significant for the past 1.5 months (the correction) and, as a matter of fact, it was nothing more than a continuation of the overall downtrend in volume during this period. Yesterday I said that we wanted to see $10000-$10200 hold and that if we saw a strong drop through it, then we were likely headed into the $8000s overall. But now we have to question that due to the lack of significant volume on that drop. That doesn't mean we won't head down that way after a brief reprieve here, but it does bring up another WXY correction possibility. We already know that the abc wave that makes up the (w) wave is a flat. The (x) wave appears to be a simple abc as we would expect. However, the CME gap narrative has lead us to believe that the only possible outcome now would be the drop into the $8000s. But it isn't. We could see this (y) wave play out as a triangle similar to what is outlined. This is something I spoke with our premium Discord members about earlier this week. Why might this happen? Our first clue is the volume. We can see that it has continued to contract throughout this entire correction. I expected it to break out of that contraction on this drop down if we were going into the $8000s (and it still might, depending on how today and tomorrow turn out, but for right now traders should be pausing and considering other possible options). The bulk of the movement during this correction continues to remain within the higher volume nodes. Any dip or push beyond them is short-lived as price continues to contract toward the EQ of price action. The daily candle is currently a dragonfly doji which, as with all dojis, means pause but it could end the day as a much more bullish candle. As long as price continues rising, today's volume should break that contracting volume downtrend and lock it in as demand rather than supply. However, we would expect volume to contract overall as the triangle prints. Daily Stoch RSI is almost bottomed out and RSI appears to be finding a bottom around 40 which has been the support/resistance during the entire bull run so far. Locally, it has been the point of price reversal every time during this 1.5 month correction. There is also hidden bullish divergence printing once more on the weekly TF, but with half the week or so still remaining that may not play out. On the shorter TFs, we have a descending broadening wedge that has printed. A successful close above it should have price targeting the ~$10900 level which is also the H4 S1 pivot. Be sure to make the chart your own per the directions below and then zoom into the shorter TFs to get the potential EW count that I drew on their this morning for our Discord members. The H1 Stoch RSI remains high at this time so I'd like to see that reset without affecting price too much. On the H1 TF, you will also not the two resistance lines on RSI which I've been talking about for a while. I said I wanted to see price pushing through them to indicate a bounce, if not a reversal. You will note that the push through the red resistance was the start of the bounce off the S3 pivot and currently RSI is sitting against the black resistance. RSI overcoming this latter resistance should coincide with price leaving the descending broadening wedge and, as mentioned above, puts the ~$10900 target into play. I will be live streaming this morning at 10 a.m. CST/3 p.m. UTC and would love to have y'all check in and say hi. I'll be going over this and a few more bearish scenarios during that time. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
KRAKEN:BTCUSDLong
by Chris_Inks
1
XBTUSD H4 chart (8/12/2019)Good morning, traders. As mentioned in Discord this weekend, the triangle we were watching appears to have been wave B of the correction and price is currently printing wave C. At this time, I am expecting the 5th subwave of wave C to complete in the lower orange demand, likely around the S1 pivot. My upper targets remain the same as they were last week with my interest at the $13000 level. There is a possibility that price printed a short 5th subwave on wave C. If that is true, then we should see price close above the pivot on the H4 rather than head further down. At this time, we can see that the H4 RSI has retested previous resistance as support and is slightly bearish at 46. If RSI continues to drop, then a close below the horizontal purple line sets up hidden bullish divergence as long as price remains above $9369.30. Stoch RSI is nearing a bullish cross with lots of room to run. While the H4 RSI has been moving down from overbought, the H1 RSI has been moving up from oversold (currently sitting slightly more bullish than the H4 at 48) and its Stoch has a lot of room to run as well. I mentioned that it's possible price has completed wave C and is headed up. While it is possible, I am leaning toward the lower target mentioned above first. If you make this chart yours and then zoom into the M30 TF you will see the local TR that is printing. With Stoch RSI overbought and nearing the top, as well as price sitting in the HVN, it seems more likely that we will see price drop below the TR's support and print a Spring before heading up. However, there are no guarantees for either direction at this time so traders should remain cautious and hold off entering until confirmation of either direction is noted. The weekly recently confirmed a 2 month long hidden bullish divergence. Its Stoch RSI is now crossing bullishly. While this is only the beginning of the week, if price ends up for the week then we will see that bullish cross which would only increase the odds that price continues higher. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
KRAKEN:BTCUSD
by Chris_Inks
4
BTCUSD M30 chart (8/7/2019)Good morning, traders. Last night, I was watching for a possible HnS to target the blue zone in the mid-$10000s. This morning I woke up to see that price had returned above the neckline without reaching that point. Instead, it bounced in the orange demand zone that printed on July 13th. In doing so, it did print the H4 hidden bullish divergence I said I was waiting for in yesterday's TV update. At this point, there are two possible roads I can see price taking. I am leaning toward price printing a triangle as drawn. We have an ABC for the A wave and appear to be working on an ABC for the B wave. The other possibility is that price prints a flat correction resulting in a flag. This latter possibility would still have price printing an ABC for the A and B waves but then 5 waves down for the C wave. That C wave would have price targeting the blue demand zone. Why am I leaning toward the triangle rather than the flat correction? There are two reasons: 1) In terms of the local TR, we have seen expanding volume and increasing candle spread from the July 28th swing low suggesting a move up from a Spring and, if so, then 2) we expect consolidation at the top of the TR before heading higher, which is what we are seeing. This consolidation is at the local TR resistance, the 2018 TR resistance, and the flag resistance denoted by the dashed red line. The target, based on the height of the local flag, is still the yellow box that I have had in the low-to-mid $13000s. This target should be wave 5 off the double bottom, as shown. We could then expect a retracement to the blue zone at that time. Price has been printing the ascending broadening wedge and the blue zone aligns with the target based on the height of the wedge. This would take price just beyond the 50% retracement of that 5 wave advance giving us a pretty good larger wave 2. H4 RSI printed hidden bullish divergence, as mentioned above, on RSI and MACD's histogram. Stoch RSI remains oversold but is nearing a break out. RSI is bullish at 63. Our premium Discord members now have access to our trading basics course included with their membership! We continue to add more content for new traders to learn how to be more effective and consistent when trading the market. H1 RSI is nearing its descending resistance. A close above this resistance should indicate further price appreciation. Stoch RSI is topped out and likely to need a rest before RSI breaks above its resistance. Hidden bearish divergence is printing on MACD's histogram supporting the belief that price will pullback before heading higher. This pullback would be inline with the outline of expected price movement. M15 shows the IHS that printed with a target of ~$12225. Price appears to be printing a pennant/flag on that TF which would then have a target of $12500/$12525, based on the height of the flagpole. I am not a fan of this target because it really doesn't align with any other areas of confluence. However, the height of the flag as a target would align with the generally expected target of the IHS at around $12225. As always, if price continues moving higher than anticipated, traders can utilize the pivots on the various TFs as possible targets until price prints a larger retracement. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSD
by Chris_Inks
5
BTCUSD H1 chart (8/6/2019)Good morning, traders. Over night, Bitcoin saw a high of $12320.40 on Coinbase, promptly followed by a drop to $11598.41. Price has continued to drift down less than $100 since then and found support at the R1 pivot and H2 demand. So far, we have seen a good reaction out of that demand and price finds itself sandwiched between the H1 and H2 21 EMAs, just below the descending flag resistance of the dashed red line. The H1 Stoch RSI is oversold, bouncing off the bottom, and crossing bullishly while RSI is slightly bearish at 47. The H4 Stoch RSI still has room to drop and the RSI remains bullish at 63. Even though we have demand making itself known, I don't know that I trust the local TR at the moment. There appears to be supply continuing to show up at the bottom of it on the lower TFs suggesting that those buying the dip may be getting sold into at this time. The H4 MACD is attempting to cross bearishly, but there is another two hours remaining in the candle so traders should use caution and pay attention to how this plays out over that time. The MACD's histogram is nearing a negative flip, and if it does then we will likely see hidden bullish divergence print on it. The last negative spike was on August 4th at $10654, so price would need to drop below that to invalidate the likely div that will begin printing if price continues to retrace. I will be looking for a bounce around the $10745-$01805 level if that retracement occurs. The M30 shows bearish divergence printed on RSI and MACD as price hit the overnight high. It also shows bullish divergence printed on RSI with the recent swing low. However, MACD remains without a div for the time being. Further appreciation of price from here over the next 20 minutes would likely see that bull div print on MACD. The daily candle is printing a long-legged doji which is best understood as a "pause." If the candle closes like this, then we will look for the following candle to confirm direction -- a green-bodied candle tomorrow would suggest further upside. I remain cautiously optimistic about further price appreciation before a more substantial pullback, but we need to see price move above the H1 21 EMA to start putting that into motion. Our targets remain the two red lines we noted yesterday based on the Adam and Eve double bottom and the descending wedge. That would get price up around the H1 R3 pivot. So far, we have merely seen price touch above the R2 pivot and the drop back toward the R1 pivot, as we would normally expect. So while people continue to say that price MUST retrace, I want to remind you that price does not HAVE to do anything at all. It is a constant negotiation between supply and demand. Our premium Discord members now have access to our trading basics course included with their membership! We continue to add more content for new traders to learn how to be more effective and consistent when trading the market. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSD
by Chris_Inks
6
BTCUSD D1 chart (8/5/2019)Good morning, traders. Bitcoin has continued pushing higher this past weekend, ultimately marking $11860 on Coinbase before stalling out in supply. This is also the flag resistance and the median of the Andrews Pitchfork pulled from the July 17th swing low, July 20th swing high, and July 28th swing low. A pullback at this point shouldn't surprise anyone, but if we want the double bottom target to remain valid, then we don't want to see it break below the blue zone. However, price does not HAVE to pullback at this time. The H1 Stoch RSI has already reset more than 50% and the H4 Stoch RSI, while high, still has room to continue higher before attempting a reset. The target based on the height of the descending wedge is $13465 while the Adam and Eve double bottom target is $13150. The D3 and weekly charts appear to have confirmed their 2-month-long hidden bullish divergence with both TFs having a lot of room to run, comparatively, in their RSI and Stoch RSI. The weekly candle closed extremely bullishly, engulfing the previous two and a half weeks worth of candles. Price has moved bullishly above the daily pivot. Stoch RSI is topped out on the daily but, as we know, can remain that way for a while as price continues to push higher. Daily RSI is only at 64, so it has a lot of room to run. While daily volume isn't significant in comparison to what was seen at the beginning of this corrective leg, it is expanding relative to where it was prior to this move up and candle spread is increasing, which is what we want to see. Our premium Discord members now have access to our trading basics course included with their membership! We continue to add more content for new traders to learn how to be more effective and consistent when trading the market. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSDLong
by Chris_Inks
15
XBTUSD H1 chart (8/2/2019)Good morning, traders. Bitcoin hit a high of $10580 over night. This is still about $200 lower than my target from yesterday and price is starting to show signs of fatigue as it stalls at the H1 and H12 HVNs, just above the R1 pivot. The H4 RSI and Stoch RSI are overbought, however the H1 RSI is dropping back under overbought with a Stoch that is just now trying to push out of oversold. This gives price a bit of room to move up before a bigger pullback is seen on the H4. The green H1 supply zone, just above price, remains my immediate target, with the green zone above that as a secondary target. I expect to see an initial retracement toward the orange zone at $10200-$10300, potentially confirming that possible ascending channel, if price is rejected at the initial target. I will consider continuation to the downside if price drops below the pivot at $9770. Until then, the assumption is a pullback before pressing higher toward the EQ of the upper blue zone near $11580. On the off-chance that strong demand suddenly appears, which I don't expect at this time, and sends price through the channel resistance and secondary target, then my expectation is for rejection at the R2 pivot at the bottom of the blue zone. In this scenario, I would expect to see a pullback toward $10800-$10850 before price heads higher. As always, these are rough estimates based on current charts, but I continually update my thoughts throughout the day for our premium Discord members. The H12 is printing a TD 9 sell signal, with a topped out Stoch RSI, increasing the odds that we will see a pullback happening sooner rather than later. However, that candle has more than 10 hours remaining until close. The H12 RSI is also printing hidden bearish divergence, but this will be invalidated if price moves above $11132. Daily RSI is bullish at 53 and Stoch RSI has entered overbought. The D3 printed a TD 9 buy signal at yesterday's candle close and appears to be confirming the 2 month hidden bullish divergence, as does the weekly. The current weekly candle has almost completely engulfed the previous week's candle. A weekly close above $10591.50 will engulf the previous two weekly candles. Our premium Discord members now have access to our trading basics course included with their membership! We continue to add more content for new traders to learn how to be more effective and consistent when trading the market. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
BITMEX:BTCUSD.PLong
by Chris_Inks
4
XBTUSD H4 chart (8/1/2019)Good morning, traders. It is now August and Bitcoin continues to rise as expected. Volume hasn't been significant just yet, so traders should continue to monitor movement. Yesterday's daily candle had a ~$500 spread which should have confirmed the pending reversal we had been watching for the previous few days as dojis were printed, along with the daily TD 9 buy signal. After exiting the large descending wedge, price found resistance at the daily 21 EMA which is also currently aligned with a significant support/resistance level as noted on the daily chart. Overnight, price found support on the lower pitchfork tine and appears to be setting up for a bullish push through the pitchfork's median. As mentioned yesterday, daily volume has been increasing but I'd like to see it expand at a greater rate. The charts get a little busier as you zoom in on them, after you make them yours per the instructions below. The H4 chart shows price reversing at the top of the purple TR and ascending support. Price may be printing a flag, and the target based on the height of the flagpole is ~$60 higher than yesterday's first target in the $10700-$10800 range while aligning almost perfectly with the pitchfork resistance. The possible H4 hidden bearish divergence I mentioned that traders should watch yesterday still has not printed. We've seen a bit of a pullback, but overall price and RSI continue to rise steadily. A touch above the swing high at $10300 on Bitmex will invalidate that possible divergence. The orange zone just above price on the H4 TF is the supply that price needs to push through to continue higher. Stoch RSI on the H4 briefly dipped below overbought but is currently curled up nearing a bullish cross once more. The H1 shows RSI retesting resistance as support before bouncing higher and clearing the next descending resistance. Stoch RSI is at 47 and rising steeply but with a lot of room left to run. Smaller TFs like the M30 and M15 suggest a pause before price heads higher as the Stoch RSI on both TFs is topped out. Price is bullishly above the H1/H4 pivot, as well as the 21 EMA on those TFs. Our premium Discord members now have access to our trading basics course included with their membership! We continue to add more content for new traders to learn how to be more effective and consistent when trading the market. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
BITMEX:BTCUSD.PLong
by Chris_Inks
2
XBTUSD H4 chart (7/31/2019)Good morning, traders. As with yesterday, not a whole lot has changed. Price continues to drift upward with no real conviction yet. Price dropped into the yellow box as I mentioned it was likely to do during yesterday's live stream and has now hit the upper yellow box I drew as well. It was an easy $350/$400 move for anyone paying attention during the stream. RSI on the H4 and H6 TFs finally made its way through the resistances that I have been watching. At this point, price is at the top of the high volume node that price has been working through, and above the H4 pivot, so a close above $9900 should have price clear for a move up to the R1 pivot and higher volume node at $10440. However, the lack of volume at this time remains a concern and could curtail any possible attempt at a move up. The H4 is on a TD 8 sell and Stoch RSI is topped out while price has found resistance at the same ascending resistance line that has been keeping it in check over the past 3-4 days. While none of this guarantees that price will reverse at this point, we would likely need to see a pop through that resistance, toward ~$10280/$10300, so that price can retrace back to that resistance and test it as support before reaching the target based on that small wedge's height which is the H4 200 MA at the HVN around $10730, just a bit above the H4 R1 and daily pivots8:27 AM 7/31/2019. The target based on the large wedge's height is just above the H4 R5 pivot at ~$13600. The purple vertical line denotes the time of the FOMC announcement. Up to this point we haven't seen BTCUSD react to any FOMC announcements, however this will be the first time that a rate cut is made (expected at this time). With the low volatility, this has the potential to be a catalyst but we will have to see how it plays out. If we can't see that pop, then it's increasingly likely that we will see possible hidden bearish divergence print as showing with the red line on RSI. Remember, this is in the process of printing but has not printed and confirmed yet. Yesterday's daily candle printed a TD 9 buy signal and today's daily candle appears to signal continuation up. As I have been mentioning, the D3 is printing hidden bullish divergence, as is the weekly, and may be in the process of confirming it. D3 Stoch RSI bounced off the bottom and is nearing a bullish cross. The D3 TF is printing a TD 9 buy signal, but this candle does not close for another 1.5 days, so anything can still happen by the time it does. The previous 3 days shows slightly expanding volume and increasing candle spread, but it's nothing significant yet. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
BITMEX:BTCUSD.PLong
by Chris_Inks
1