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Trend-lines

My scope for the weekJust a quick in-between chart: these are the trend lines I'll be watching over the next few days. The top red, green and blue trend lines are drawn from the past peaks over a long timeframe, to gray bottom line is the long term support line. So, key things to watch: will value drop down again, and if so, will this go up to or down beyond the gray support line. And vice versa, will we break through one of the top support lines? If we don't and price falls back down we're only postponing the triangle breakout (up or down) a couple of days later. If we do break through one of the top resistance lines, most likely price will drop back to this line as resistance becomes support, and after that we move further up. Just a little reminder: Elliot subwave 3 is the most impulsive, i.e. strongest wave up, so this is it typically the wave that pierces a prior resistance. Keep this in mind when drawing your wavecounts!
Long
by thomasvandenabeele
BITCOIN to fall to 8400 Support then the RALLY to 16k USD beginsHey Guys, Just an Update on big daddy BTC. We are experiencing a 5-3-5 (Zig zag) styled ABC correction at the moment. with major support at 8400 USD price. I'm expecting wave 3 to find support at 8700 with a bounce up to 8950-9000 price region. then we will make the last 5th wave down to 8400 USD. I will update this Idea later with a chart as to why 16000 USD will be our next target when BTC finishes the correction. Enjoy!
Long
by Husky2795
OMG/USDT: possible entry point soonDear trading friends, OMG/BTC in its current state is bearish , thats a fact. First, MACD just crossed signal line going down, which is a sell signal. It broke the mid-term support line that formed since the begining of february and has been dropping since then. EMA20 is starting to fall towards EMA50, but at the present time it is too soon to use it as a bear tool. However, it is about to hit (in the next few days, with maybe a small upward correction first) a very strong support line in place for more than 4 months. Two scenarios : * If it bounces on, we are off for a price going to the 1814 sats resistance . That is, in my opinion, the most probable option as the support line is quite strong. This would be a valid entry point, around 1500 sats (when crossing up). The ascending triangle pattern would be the next target , which is a great bullish tool. * In case the support line fails, the drop will happen quite fast and OMG should retest the 1200 sats support.
O
by Greenou
TA Radial Scaffolding, BTC, 15 minutesCan anyone explain what underlying technical analysis principals define a pattern like this? Please explore this chart from present to past and let me know what you think. The origin point for this "radial scaffolding" is at $7,510.00 (2017-11-14 17:00:00). If you draw a trend line from that point through the chart history, you'll often find many matching points and oscillations around these trend lines going back as far as you want to look. Rather than matching only high, low, open or close points on the candles (the way most TA trend lines do), these trend lines will cut through the graph matching many areas. Some points will hit the trend line perfectly, other areas appear to be a tight consolidation around the trend line without necessarily hitting points exactly (reminds me of a tether ball swinging around the pole). In other places two adjacent trend lines will form a clear channel which the graph follows. It's the radial nature of the trend that's intriguing. Trend lines which match several recent points, will also match multiple points in the past. To me, it looks a lot like the way lightning crosses the sky, or water rolls down a window taking the path of least resistance. There's clearly a pattern here, but the way it jumps from one line to another seems random and probably not useful for predictions. Please scroll through this chart looking at different time intervals and dates (looks like the published chart won't allow you to change the time intervals so I'll publish a couple more versions at different intervals), notice the areas I've highlighted. In particular, notice how the top three trend lines intersect recent trends as well as trends all the way back to early 2015. I find it very interesting and I'd love to know more about it. I'm not a TA expert by any stretch or even a great trader. I've been learning some of the basics of technical analysis and this pattern has me scratching my head. I don't know how to interpret it, led alone draw any conclusions from it or make any predictions based on it. Hopefully someone can point out what principals this pattern works on and I can study up on it further. This chart represents only a single-origin radial trend, but I've got another chart that I'll publish showing other overlapping radial trends like this. The multiple origin charts however get very messy. It's all a very interesting mystery to me.
COINBASE:BTCUSD
by coffeetime