JayanVarsani

JayanVarsani

Chart is self-explanatory, play until stopped out or daily close outside of range.

JayanVarsani Updated 

BITCOIN & THE 61.8 FIB RETRACEMENT. YOU MAY INTERPRET THE REST...

JayanVarsani Updated 

GBP/USD has rallied for weeks and is very over-extended RSI Divergence is a fairly reliable indication for a trend reversal Confirmation of RSI Divergence suggests that it is safe to open a short position Daily Chart Targets & Key Levels VERDICT: GBP/USD due a correction and confirmation of bearish RSI divergence suggests opening a short position...

JayanVarsani Updated 

EUR/USD Severely over extended and awaiting a substantial correction There is substantial risk in entering at the current price. Opening a position at these levels may result in liquidation. Waiting for confirmation via: RSI Divergence Moving Average Break Wick Rejection Daily RSI @ Extreme RSI Levels ~ 80 VERDICT: EUR/USD due a correction soon...

JayanVarsani

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JayanVarsani

Riots & Protests = Social Gatherings Social Gatherings = Spreading Of Coronavirus Spreading Of Coronavirus = Restricted Economy Restricted Economy = Market Crash Whilst this logic may not fully constitute to a market crash, it just needs to be a catalyst. A trigger. Just as the virus was the catalyst for an over-valued market back at the highs, the...

JayanVarsani

Key resistance broken indicating potential S/R inversion Double bottom formation solidified. Looking to retest neck-line for further confirmation Short-term bullish until the 61.8 level is hit. After this, we shall wait until we see signs of exhaustion or a reversal VERDICT: Take calculated long positions to the 0.618 and do not fight the trend until...

JayanVarsani

Expectation for price to trade between boundaries until breaking out. Place stops outside these boundaries with adequate room. VERDICT: Short-term: Price will carry momentum downwards to test the lower boundary. Medium-term: Sideways trading between zones. Long-term: Lower boundary will give, with price heading lower.

JayanVarsani

Extension Of Previous Idea - Titled: "IT'S NOT OVER YET | THE FASTER WE RISE, THE HARDER WE FALL"

JayanVarsani

I am not confident this is the end. In the history of Bitcoin's existence, the faster we rose, the harder we fell. Vast acceleration always resulted in a large correction. We rose up too fast... yet again. Thus, I believe a large correction is due... yet again. Now I understand this pattern breaks eventually and we progress into a bull market, a long,...

JayanVarsani Updated 

NOTE: The following extends my earlier post on EUR/GBP. Please refer to it in addition to this post; attached below as a related idea. Inverted H&S - Right Shoulder Forming Double Bottom Still Holding As The Local Low Targeting The 61.8% Fibonacci Retracement Level Macro-Economic Analysis - Further Downside Expected, Thus A Rise In EUR/GBP VERDICT: ...

JayanVarsani

No unnecessary words needed. The chart speaks volumes. Bitcoin has never experienced a recession let alone a pandemic. Bitcoin will follow and mimic the global economy so long as economic implications exist. Main indicator for investing in Bitcoin should be the SP500, or any other equity index. This isn't a bull market. This is a bull trap correction. ...

JayanVarsani

Often in downside and upside moves of large magnitude, a phase is present where a large correction occurs. This is known as a Bear or Bull trap, respectively. It is reasonable to say that we could be in a bull trap right now with stocks up by almost 30% An average market cycle high to low has been in the region of 50-60%. This would bring price to...

JayanVarsani Updated 

Technical Analysis RSI Divergence RSI Symmetrical Triangle 61.8% Fibonacci Retracement Fundamental Analysis The correction in global equity markets is beginning to weaken, signs of a reversal are showing. During the recent equity market crash, and also the 2008 Financial Crisis, EUR outperformed GBP (EUR/GBP rose) During the recent equity...

JayanVarsani Updated 

2015 50% Fibonacci Level held as a pivot as price traded under it whilst testing it 50% Fibonacci was re-tested upon breakout Capitulation was -65% Capitulation wick was -22% below the close Price simply traded sideways within a range 2020 vs 2015 Similarities 50% Fibonacci Level being tested as of now and this is a key pivot zone ...

JayanVarsani

Bitcoin to breakout within 36H (12:00PM - 10th April UTC) Expected downside breakout. Regardless of the direction, this will be a key zone where a breakout will occur Note, ascending wedge has been adjusted from my previous post. Adjusted lines show that this pattern is still intact and is yet to be invalidated Also note that leveraged longs are beginning to...

JayanVarsani Updated 

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JayanVarsani

Overall Bearish Bias Chart Indication Bearish RSI Divergence: RSI printing lower + price is rising slowly Watch for pivot around the 4 levels in the chart Expect price drop upon trend line break Price action generally following broad financial market movement (hence current upwards correction) 4H RSI Divergence