MT4-trader

MT4-trader

On the weekly chart, SKL/USD has been in a prolonged downtrend since its all-time high in 2021. However, the price is now in extreme oversold territory, as indicated by the Relative Strength Index (RSI). Historically, such levels have preceded significant reversals, suggesting that the downside momentum may be exhausted. The current price action is consolidating...

MT4-trader Updated 

At the moment, the price of oil seems confined between its important areas of support and resistance. I think that contrary to popular belief that oil will go up because of the conflict in the Middle East and the Russian/Ukraine war, I actually think that it is more likely it will start going down. But of course what I think is irrelevant. If the...

MT4-trader

OK, this is not really a suggestion of the upcoming trend, I wrote about my prediction previously (short) and as you can see on this chart, the price is hitting some major resistance right now. It just went upwards too fast, it's just hype and news at this stage and the price of SPOT ETF approval is already priced in. BUT HERE IS SOMETHING NO ONE TALKS ABOUT, and...

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Bitcoin shot up aggressively to a very serious resistance dating back 5 years. I don't think ETF approval will happen so soon (SEC has time until next year) and given the economic conditions and geopolitical climate of today, I think a sell off is coming. It might be best to sell the news/hype.

MT4-trader

I will be very surprised if EURUSD does not print a green candle this week. It bounces off 50MA and it printed red 6 weeks in a row, which is very uncommon for this pair. The EUR has been butchered last 6 weeks on a strong performance of the dollar but I think a lot has been priced in and traders will now look towards a bullish momentum for the EUR. Time will...

MT4-trader Updated 

Inverse Head & Shoulder pattern is playing out nicely plus the price is retracing to the 50 and 200 MA in a classic retrace to the support levels. I think it is very likely the price will shoot up to retest the psychological level between 30,000-31,000.

MT4-trader

So here we are with a continuation of a bearish outlook. In option 1 BTC retraces to around $20,000 and then tries to retake the 200 MA and succeeds. This is a Goldilocks + Moonboys scenario. In option 2 BTC suffers further losses and retests its previous low and breaks it to retest the previous $10,000 levels. I think this is the more likely scenario. Notice...

MT4-trader

I don't really know what all the excitement is about. On Weekly it seems like BTCUSD is entering a Death Cross suggesting a longer bear market. The price is fast approaching the 50 and 200 MAs so that will certainly play an important role. In addition Bitcoin finished the week with a lower high and the volume is clearly waning. Therefore, I think Bitcoin...

MT4-trader

Bitcoin will most likely touch the resistance of the channel and then it will drop. I expect quite a substantial drop in September. Less money for risk-on investments, inflation, wars, rising energy prices and shortages, ignorant politicians. I just don't see how Bitcoin can not drop to $13,000 or possibly lower.

MT4-trader

BTC pullback on a weekly chart clearly testing 200MA. Classic setup for shorts. BTC could fall to previous 2020 support levels. We might see $14,000 BTC in September or October. Then it might go even lower in a black swan scenario. Brace yourselves. Not financial advice.

MT4-trader

TECHNICAL: The price of AKT is testing the 21 Moving Average in a bearish sentiment. Notice the huge spike in selling volume few days ago (it's a daily chart) From my experience such huge selling volume leads to much deeper falls that can last weeks. The price channel is moving south and currently there is no indication that it will change in the near future....

MT4-trader

In 2018 and 2020 the price of Bitcoin went below its 200 Moving Average. Now is 2022. In both cases the price dipped below its 200 MA and then pulled back above it on the weekly chart. In both cases this low level was retested in the next weeks. I suspect a similar scenario is playing out and this will most likely take Bitcoin to around 25,500 in the next few weeks.

MT4-trader

Ok, it did well for a week, better than most expected but the time of reckoning is near. Not only there is substantial resistance on the 50 MA, there is also the 50% fib retracement. Can it go higher to pass the 0.618 fib and reach the 200 MA? Sure, everything is possible. We all know that and expect nothing less from it but to act like a crazy girlfriend on...

MT4-trader

The 21 MA crossed 50 MA and the bearish trend line has not been broken. I think, with the USD getting stronger due to rising interest rates we might see Bitcoin test the 200 MA soon.

MT4-trader

I hope this doesn't happen, for the sake of hopeful mankind in the world.