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Trendreversal

break-out of the triangle postponedAs most people are bearish on bitcoin, I am quite sure it will go up from here, or at least around the 8000 usd level. If we can see previous indicators, it all points to a consolidation where most topcoins are literally obliged to make some action, and more probably to the upside. The falling wedge is not yet invalidated, as a bounce of the pennant is still possible as a lower visit within the pennant. On the longterm we have in time even passed the pivot point which indicated a reversal. We are nearing a very very important point of decision. I cannot believe most people are willing to sell at this time, only if you're a daytrader perhaps. I'll be posting other TA on topalts, which look even more bullish, especially XRP and TRX.
BITSTAMP:BTCUSDLong
by Wolverinos
5
BTC - silence or storm?Hi Guys! We are back with the new view and new charts. It is not a secret we are in a corrective downtrend. How deep can we fall? There is more than one answer. First of all we have a super big support at 6000$. We call it profitability level below which, miners simply don’t earn money. We won’t go below that level. We vastly described why in our previous analysis. You will find it down below. Moreover we have long term support which is currently at around 6900$ level. We shouldn’t go below that. So what has to happen to break the correction tunnel? First of all we have to break 1st target which is at 7700$ level . It would mean we are out of the B tunnel – goooooood. OK but what next? We are still in A downtrend. Once it is broken we have a chance to move forward breaking our 2nd point/level which will be at around 8100$ . Once broken for good we are more likely to follow the pattern 1-5 of Elliot’s Wave. 8100$ is also breaking point of the longterm trend. Look at the chart below the analysis. According to the Weis Waves there is significantly lower volume on both sides – supply and demand. It looks like stabilization. Remember after such a massive drop there will be fast recovery. Look at the historical peaks and bottoms. So guys keep observing BTC and of course our profile. If you like our job give us a like. Do not hesitate to comment. We are very open and value your contribution! If you don't want to miss out updates don't forget to follow us! HUGS! WBM Team
BITFINEX:BTCUSDLong
by WBM_Team
An alternative scenario : Basic EW bullish count !Hi, For some obvious reasons, I continue to think we are in a krach, BUT market is always right so here is my alternative scenario considering the breakout of the downtrend line is not a bulltrap. This is a basic Elliot wave counts doing in the rules (waves rules, and fibonacci's retracements), DON'T take care of the timeframe. In this case 7500/7600$ area could be a strong entry point for long term positions on BTC. Cheers. You can see my primary count in the link.
COINBASE:BTCUSDLong
by KassandrA_dotcom
7
ONT is just finished the downtrend and is reversing the trend!!!Hello Lads and Ladies, Looking at ONT we just saw a breakout from the descending triangle. The pattern that ONT has is very clear - 3 increasing spikes followed by 3 decreasing spikes. A few moments ago the descending triangle was completed and directly followed by a short breakout. Now we are entering the trend reversal phase in a elliptical move upwards. The first target lies slightly above the last second decreasing spike - 0.0010500 sats. From there on the second target will be around 0.0015000 sats, followed by short break and then the third push which is historically almost 100% above the last third increasing spike. According to that this would be at 0.0024000 sats, anyhow I would take biggest chunk out at 0.0020000 sats. Cheers, Tomas
Long
by KongTrading
The GBPCAD Breaks Further Support LevelsWe last posted on the GBPCAD on April 5th when price had broken below key support in the form of the round number 1.8000 and the weekly 200SMA cluster zone. This in itself was not a major concern to our long position as support and resistance levels are not hard levels but zonal areas. Price can and will often dip below support levels in pullbacks in a bull trend before the bulls push price action back in the direction of the major trend. Likewise with resistance levels in a bear trend. If price continues to weaken, we then look for the next key support levels to hold strong. With the GBPCAD, this was first with the daily 50SMA and then the pivot high of January and then finally the pivot high of December. Further weakness on the GBPCAD meant price made light work of the daily 50SMA and the January pivot and is now directly at the December high. This is our last barrier to staying in this trade which we will then look to exit with a small loss. Amongst several elements that are the key ingredients to good trading is the understanding of impeccable risk management across multiple high-probability instruments. In an ideal world, every trade you place works out, and that can happen. But what is far more likely to happen is a mixed bag of winners, losers and break evens. The percentage break down of this will vary year to year as market conditions are organic and unique year to year and market to market. The focus should then not be on how many winners you have but on how large your winning trades are. This is achieved by cutting your losers short and letting your winners. And then compounding into winning trades only. The significantly larger profit from the winning trades will absorb the smaller losses from the losing trades and also go on to grow accounts. The challenge that many face is never staying in a trend long enough to ever see the power of compounding in action. This is not due to a lack of ability but due to a lack aligning oneself with the natural movement and features of the market. The focus is always on the money first rather than the process. For one to grow an account effortlessly, year in year out, your knowledge first and foremost has to be worth more than the money you have. Holding 5 trades throughout the duration of say an 8 month trend is significantly more powerful in growing an account compared to opening and closing multiple trades a day. The latter is simply advertised as the sexy way to quick money but there is never anything sexy about compromising time for money and in the end not achieving success. The GBPCAD is looking like one of those currency pairs that may not deliver this year compared to say the EURSEK which currently is looking far more promising. But we are still in the GBPCAD and price may bounce tomorrow and have a very different outlook in the following days. Only time will tell. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
by Sublime_Trading
Has the BTC bull run begun?In the past few weeks, Bitcoin has experienced renewed growth that I believe was caused by a shift in public opinion, the regulatory concerns that haunted BTC back in January are over and interest in the space both for retail and institutional investors seems to have improved. In the short term I if BTC can keep above the range of 8700-9000 it could still follow the upwards short-term trend, this week rise to 9700 showed the number of buyers that are back in this market, if price doesn´t break the current support level it it will be a huge trigger for buyers that know that the next stop whether BTC breaks it or not is 11500. Today´s correction was very much needed to scrape the oversold out of the RSI and to bring us closer to the 50 days moving average, if we fail to hold support I don´t think there a dramatic sell-off will occur, I believe it will hold in past resistance.
BITFINEX:BTCUSDLong
by ennriqe
Aussie/USD - Week 16Another long opportunity on AUD/USD fulfilling the 78.6% Fibonacci target at 0.80303. The entry has now been met at the retest of the significant monthly key level of 0.77500. This is due to the overall bias the Aussie has, in fact, found the bottom of the bearish trend at 0.76500 and reversed the trend. The first entry for this trend reversal is still running, currently 50 pips to the upside. This is targeting the 88.6% Fibonacci level at 0.80796. Higher timeframes, especially the daily are showing positive signs of this continued bullish action pinning on the 0.77500 level multiple times without breaking. If todays candle can turn bullish and leave a strong hammer wick that would be ideal for a bullish end to this week. On a H4 timeframe price has been consolidating over the past 8 days which shows that this is a very crucial level currently for the future price of this pair. Further updates will come soon.
Long
by TomFarren
1
Potential bullish long reversal in AUDCAD after break of 0.982Hi traders! When we look at AUDCAD on the 4H charts, we can see a very nice downtrend. In fact, this trend has been going for so long that it has been very overextended when we use Fibonacci extensions! The longer a trend moves on, the bigger the potential chances of a reversal happening and right now, it looks like we might have arrived at a support area that is strong enough to push the price back up. We can see RSI divergence, a clean trend with price action mostly on the left side of the moving average and the current price seems to have difficulties making a lower low. Instead, we see that the price has entered the ranging phase and you could even find an inverted head and shoulders setup in there. All clues that lead me to believe that a bullish reversal might be in the books for us. However, I want to see a break of our local resistance level at 0.982. If the price can break and close above this level convincingly, I might take a long position. This setup is one of the 12 setups that are part of my Trade Advisor watchlist for this week. With this program, you can learn how to trade these setups, get mentoring directly from me and get my full private watchlist every week: smartforexlearning.com You can find more analysis on smartforexlearning.com and can follow me here: - on Twitter: twitter.com - on Facebook: www.facebook.com - on Google+: plus.google.com Good luck in the markets! Felix
Long
by UnknownUnicorn553472
Short term analysis of BITCOIN!This is a quick and simple look at the 15-minute chart of Bitcoin, I believe that a trend reversal has already occurred and we are seeing the beginning of the new tendency, I would be happy to post my analysis of the long-term picture if I see some interest. BTC has stayed inside the yellow channel for the past few days, the upper limit has proved to act as resistance several times so breaking above the 7000-7100 price range will likely cause BTC to test 7500 again. If we break the channel to the downside we could bounce in the 6400-6500 where buyers seem comfortable entering.
BITFINEX:BTCUSDLong
by ennriqe
Aussie/US DollarThe trend reversal opportunity I have been waiting 3 weeks for has finally arrived. Ever since this pair dropped into the 61.8% Fibonacci region I have waiting for a support key level to hold it up subsequently moving price action bullish. This level turned out to be the Monthly Key Level of 0.76500. Price first tested this level on the 29th March, creating a bullish engulfing pattern. On the 2nd April price again retested, creating a morning star pattern on the H4 timeframe. Price action hit the monthly resistance of 0.77000 a number of times, breaking out once to retest the descending bearish trend line. This was a important breakout as it hinted future price action. In the second week of April price gapped up 7.5 pips and created a strong hammer bullish candle on H4. Price then retested the level of 0.76500, (slightly above by 2 pips), creating a hammer candle on H4 and a bullish engulfing on H1. The following price action up until the point of typing looks to be heavily bullish with a breakout of 0.77 looking very likely. I found an entry at 0.77040. This was 54 pips above my intended entry point, psychological factors were the reason for this misjudgment. I set a 25 pip stop loss with a take profit at 0.80635, the 88.6% Fibonacci region for the trend reversal. This gives a very healthy 14.3/1 Risk Reward. An update for this trade will come in the following days...
Long
by TomFarren
1
BTC USD down trend continuesAs expected, the down trend continues. The rising prices of other cryptos, i.e. Litecoin, Ripple and EOS during the past days indicate that the down trend may be almost exhausted. Nevertheless, it seems plausible that BTC reaches our short term goal of 6000 USD today, which is the double bottom. I do not expect a significant bounce here. Maybe we can hold that level for a day. For medium term target please see my other posts. I believe we need to be considering that the down trend seems to be close to be exhausted. Accordingly, any positive news may delay the correction further or even end it ultimately. Trade safe.
BITFINEX:BTCUSDShort
by UnknownUnicorn1005877
XEMBTC has limited bearish potential:bullish biasPrice action in XEMBTC (NEM) from the May 22, 2017 high of ~0.00013911 down to a low of ~ 0.00001128 (on Dec. 8, 2017) is corrective i.e. a 3 wave move in this case that I have labelled as an A-B-C Elliott wave structure. This implies either at least another 3 wave move back up or the resumption of a bullish impulsive wave. Price swing upwards from the Dec. 8, 2017 low up to a high of ~0.00010264 on Jan. 4 2018 was rather another correction (3 wave move), and not impulse move. The current price swing downwards from the Jan. 4 2018 high is either wave (C) (to be labelled capital letter and in pink) or wave B ( capital letter and in red). Either scenario implies the resumption of at least another 3 wave move back upwards or impulsive move. Since both scenarios point upwards(bullish), XEMBTC should be considered for a long position (bullish). Support 1 (between 0.00003263 and 0.00002451) is a likely target for the current downswing in price and if price breaks through Support 1, Support2 (between 0.00001244 and 0.00000235) would likely offer a floor for XEMBTC. Assuming a scenario where price continues to sell off and reaches Support 1, buying a break out after consolidation at Support 1 (e.g. at ~0.00003271 and placing the stop loss below Support 1 e.g. 0.00002447 would give a risk = 0.00003271- 0.00002447 = 0.00000824 Reward = 0.00006858 (Bottom range of Target 1) - 0.00003271 = 0.00003587 Risk/Reward ratio = 0.00003587/0.00000824 = ~4.4:1. Use of a break out above Support 1 as explained above for example and using the bottom range of target area 2 to take profit will give a risk/reward of ~7.3:1 . Use of the bottom range of target 3 to take profit gives a risk/reward ratio of ~10.4:1 Range for Target 1: 0.00006858 and 0.00007573 Range for Target 2: 0.00009321 and 0.00010503 Range for Target 3: 0.00011808 and 0.00013852
by Coin_Analyst