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Trendreversal

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
RIPPLE.. SILENCE BEFORE THE STORM !XRP will have to prove itself as a very crucial moment is nearing... probably within the few coming days... In my eyes there's a giant pennant getting to its end... as well as a visit to the side of the descending parallel. Hoping for a serious push in the back if we are in a bullish trend... I left out the Elliot waves, as this speaks for itself, but probably it is the 3th wave, as well as BTC. There is a chance BTC will make a correction before going up... but as XRP is quite stubborn at the moment, it could do the opposite... Let's wait and see.
BITSTAMP:XRPUSD
by Wolverinos
5
ADA/BTC bearish continuation or possible trend reversal? After a massive bull run, ADA is doing a ABC correction. Also we see a falling wedge, if ADA falls through support (yellow circle), I expect bearish continuation. The 0.786 fib line (2250sats) could be a perfect buy zone. Buy orders should be placed within the red box. If ADA hold support at this level 3000sats, then I expect upward movement. The RSI is oversold, this triggers people to buy. When we hit the upper line (resistance) and volume kicks ADA could breakout, This indicates a trend reversal, possibility for another bull run. This is not financial advice. If you have any feedback or remarks, please feel free to comment below. Peace and trade safe!
by paultje
BTCUSD TREND REVERSAL - WEEKLY MORNING STAR IN THE PRINTSDear all, the last time we printed a weekly morning star, BTC was in the 4K range last year after a selloff from 5K to 3K: When this was printed on the daily, we also saw a huge momentum swing to the upside after the selloff: Since then, we have never seen 4K again - price went up by about 350% to 20K before BTC sold off to 6K. A morning star is a bullish signal signalling the end of a downtrend: www.investopedia.com We are in the midst of printing another one - and how this plays out is highly dependent on how we close off this weekly candle. We have about 3 days to go. In conjunction with this, we have rebounded strongly with volume from the 76.4% fib level from the swing of 2K to 20K. Stochastic RSI is also crossing up. Each time it did, we have had strong rallies. I have no potential price targets for this setup, as what is currently seen is a gradual sentiment change of price discovery. Once these signals confirm and close for the week, we can anticipate another huge run up aiming for new highs. The trend is your friend. Cheers.
BITFINEX:BTCUSDLong
by Jeuvici
BTC showing signs of Trend ReversalIf any of you have seen my comments around here, you know that I'm no Bitcoin Shill... In fact, I pretty much detest the stuff. But the facts remain. The perceived value of BTC still directly correlates to the price action of all other coins and tokens. As asinine as it is that we all trust and believe in a coin which is centralized in China, owned by a couple of Billionaires, and is based in a country which is openly hostile towards all Cryptocurrency, the price of our superior tokens will not increase until the price of BTC stabilizes or increases. Anyway, that's what I perceive the charts are telling us now. What we have here is an Inverted Head and Shoulder's pattern. If this pattern is confirmed, we will see a "bullish" reversal of this trend. Which I'm sure you've been enjoying. We see that the pattern is validated by volume and RSI. We are currently nearing the Apex of the Right Shoulder. We should soon expect to see a test occur at the neckline. I anticipate heavy resistance at the neckline, which is also a Fibonacci level. IF this line of resistance can be pushed through we will see the price of BTC increase to $11,000 and possibly follow the chart as I've drawn it. If BTC FAILS to break through this key resistance level I would very much anticipate the price of BTC to decrease further. Falling below the prior "lows" and possibly continuing the downtrend towards $1,200... Which is honestly probably about where we should be valuing BTC anyway. What we should NOT be doing is thinking that just because the value of BTC crashes it means that our "alts" (superior coins) should also decrease in value. Ideally they should be valuated completely independently of each other and all other coins. But that's not the world we live in... yet. The arrival of that day is the day that BTC will have exhausted its final use-case and we can finally bury it with honors. A great proof of concept. A profound example of everything which can go wrong with DLT. And, hopefully, we can all learn from its failure and understand how to avoid those traps. Personal biases aside, BTC looks like it's on the road to a rebound...
BITFINEX:BTCUSDLong
by VanBenno
2
SPX: This is it!WHAT HAPPENED YESTERDAY? The market was down significantly yesterday in an organized, structured manner, without much panic. As if the operators knew that the time for consolidation would come, and had collectively decided that the time was now, on the Monday of Feb 5, 2018. Let's point out that this was probably the most widely anticipated correction: The market has been expecting it since early 2017, at least. People and the media are still debating whether this was a correction or a crash or some other event with a funky name (flash crash, etc.) Call it whatever you like, the point is that the market was down significantly, and hundreds of billions of dollars or stock market capitalisation were wiped out. POOR, OVERSOLD TECHNICAL PICTURE Technically, yesterday constituted an interesting outlying event with the market down significantly on heavy volume, even showing an acceleration in the downtrend through the day. A late session attempt at a rebound was very short-lived, and only resulted in the index closing near the lows and below the important 2,650 level. This intraday rebound also occurred at the MA100, one of the more solid supports. Currently, while the overall uptrend remains in place, the momentum on the SPX looks like it is turning negative on many indicators and pretty much every time-frame. To say the least, the index is now oversold - But will it rebound? And if so, by how much? Or will it keep diving? FUNDAMENTAL CHANGE Fundamentally, operators may have been spooked by the poisoned gift of Janet Yellen: While the economy is doing great and inflation is finally picking up, the case for faster interest rate increases becomes evident. This, in turn, impacts market valuations by mechanically raising the discount rates for all the valuation models. In addition to this valuation burden, analysts have been systematically hiking their estimates and valuations, running after the market as is always the case during euphoric times. As a result, good earnings (AAPL, GOOGL, AMZN, etc.) can no longer pull the market up, as we saw towards the end of last week. WHAT NEXT? Technical operators have been expecting this correction and positioning for the downside (please see my links/threads below). Hopeful operators will see an opportunity to buy the dip, but this is risky as the "purge" might take us lower to 2,533 (200MA). In addition, with the earnings season now behind us, there remains little catalysts to take us higher. It is impossible to answer the questions of how much more downside there is from here, and for how long. However, in all probability, there should be some form of rebound from the current oversold condition. After that, my assumption is that there will be more downside until the valuations become sufficiently compelling to bring back the buyers. My central scenario is for a pause here, followed by another grind down to 2,533 (another 4% to 5% down). At this juncture, watching the market on a daily basis for signs of change is extremely important. As for what to do in this market, please refer to my previous thread below - SPX: Flashing cautionary signals (again).
SP:SPXShort
by HAL9000
Price Action Lesson 4: Weak hammerWeak hammer: For having successful and steady transactions, Simple detection of market patterns is not enough. But with a deeper look, we should calculate the success possibility of each pattern. One of the determining power Parameters of hammer stick is about Descending or ascending that the body can be. Thus, if the body of hammer is ascending, Possibility of starting an ascendant wave is very high. The opening price of the day, is very important. This price - is the previous day's closing price, in fact it is the price that they had a war at in previous day where buyers and sellers come to equilibrium. So on the day that the Hammer is forming. If buyers can raise prices to the point of closing price of yesterday, and by the end of the day, they keep the price at the top of it, they will be the winners of the war. If we can raise the price above yesterday's closing price, they are not conclusive winners of today’s war, and this war will continue for the next few days. Thus, if the body of hammer is ascending, Possibility of the beginning Ascending wave is very high. But if the body of hammer is Descending, Possibility of the beginning Ascending wave is less. In this case, it is said a weak hammer has made. - The picture shows a hammer candlestick with descending body. . As what can be seen, candle’s height is tall, but it has very short body height. Also Lower Shadow is long, and the upper shadow is very short. . As regards the Closing Price of market is under its Opening Price, therefore the body of this hammer is Descending, and the power is very low. Possibility of the beginning ascending wave is less.
Education
by ForecastCity
14
Price Action Lesson 3: Hammer, The first sign of beginning ...Hammer, The first sign of the beginning Ascending wave: Hammer shows that the war between buyers and sellers, at the beginning of the day sellers could create significant reduction in price, with their high investments. But when the price had come to the lowest extent of it, many of buyers have entered with more investments than sellers. And again they could increase the price close to what it was at the beginning of the day or may even more. And at the war that was between buyers and sellers, the buyers have been the winners of the day, and the market is largely in control of them. Thus, the possibility of further price increases in the coming days is enormous. example: picture Shows, currency pair of EUR/USD -0.31% in a 30 minutes time frame. At the beginning, by increasing investments of sellers, the price became to 1.16886 But in this range with the arrival of large buyers to the market and overcome to turnover of shopping on sales transactions, the price increased again. Sellers could increase the selling price due to the amount of demand from buyers. The starting price is may be at 1.17495 but it increased by the end of the day to 1.17578. As what can be seen, after forming Hammer , an Ascending wave started and the Price have increased more.
Education
by ForecastCity
22
Price Action Lesson 2: Conditions of a Perfect Hammer Conditions of a Perfect Hammer: . Body height must be short. . The total height of the candle must be taller than the Daily ATR-264. The taller the candle is, the stronger the Hammer is. . The lower shadow’s length should be very tall. It is better to be over 75 percent of the Daily ATR-264. . The upper shadow does not exist, or if it does, it is very small. It shouldn't be more than 25 percent of the Daily ATR-264. . The hammer that has an ascending body is stronger than the one which has a descending body.
Education
by ForecastCity
13
Hammer Candlestick Pattern DefinitionHammer Candle Stick Definition If there was a large drop in price in the middle of the day, but before the day ended it increased to what it was at the beginning of the day and even more, a significant upward return occurred. The candlestick of this change (move) will be a Hammer in a daily time frame. A Hammer formation on the daily time frame is a very strong indication for probability of increasing price in next days. Example: The picture shows currency pair of EUR/USD in a 30 minute time frame. On Ausust 09, 2017 the price significantly decreased from 1.17495 to 1.16886 or even lower. But after that, it increased rapidly at the end of the day to 1.17578 and then closed. Also in this picture - for better understanding - the Hammer Candlestick in the daily time frame - in the result of changes in a day - is drawn.
Education
by ForecastCity
8
Iteksignal: Learning to use Reversal signalHow to Pick the Bottom in Any Market with Iteksignal A simple technique to buy the turn higher from the low with Iteksignal, is to wait for a failed double bottom. If you take a look at the image, prices fell to lower low with an extreme bottom (1). A subsequent candles bounce to a higher price (2) stalled and approached the bottom but did not break below that base. New higher lows (3) formed. 123bottom The buy trigger in the 1, 2, 3 formation is a push above the high (2) inside the double bottom. Buy when that peak is exceeded with a protective stop loss exit at the bottom (1). That make Iteksignal a valid entry
ALong
by iteksignal