Currently trading below reference EMA's inside a clear and brand new descending channel. HS pattern still in play. Correction could lead the price to a 15 to 10k levels and probably lower. Careful trading unregulated cryptos and ponzi schemes...from nothing to 60k+ and back to square one.
Right where it needed to go. Correction is NOT over yet. Possible HS pattern in play. 17K and 10K next targets for bears.
As mentioned in my previous chart on this pair, there could be a HS pattern in play and even and inverted Cup and Holder pattern as well, both are quite bearish. Since we traded off the 10K range, price has spiked to 60K in almost no time. Does it makes sense? All the best.
Self explanatory idea. 70 % chances of going up and 30 % going down IMHO. We are currently trading below reference EMA's on the weekly timeframe and therefore we have to be cautious to trade longs in this pair. All the best.
Enough room up for a nice profit in long term
Approaching a potential buying area for those looking for a long term profit.
Self explanatory chart. Currently heading to test EMA 200 on weekly chart.
After breaking out the ascending channel and trading below reference EMA's on daily and weekly timeframes, it looks like we are heading to a support area at 0.92504 to bounce from there to 1.02+ area. That's my view and my strategy. So far no open positions.
Potential Cup and Holder pattern in play. In the long term I am not very fond of this idea as I see the USD strengthening against most pairs but in the meantime let's see how this plays out. Cheers.
We are just few pips away of a reversal area after adjusting more precisely the channels.
With current geopolitics heating up in Middle East (Israel and Gaza) oil price looks like it will remain at current levels. We are trading above reference EMA's and inside the channel, so price could continue to climb. Anything above previous highs still a potential sell area for me. Long term is a sell, short term is a buy.
Lower highs and lower lows. For those in love of cryptocurrencies watch out possible massive profit taking. It does look like price will accelerate falling after Elon Musk comments on BTC. If you rotate your screen 180 degrees what do you see? To me it looks like a possible inverted cup and holder pattern that could lead BTC back to 30k followed by 10K where it...
Lower highs and lower lows. For those in love of cryptocurrencies watch out possible massive profit taking. It does look like price will accelerate falling after Elon Musk comments on BTC. If you rotate your screen 180 degrees what do you see? To me it looks like a possible inverted cup and holder pattern that could lead BTC back to 30k followed by 10K where it...
There are two possible Head and Shoulder patterns in play right now, the question is which one will prevail above the other one? We have a bigger HS on the daily timeframe and an inverted HS as well on the daily timeframe. US economy is showing to be performing better than Eurozone in spite of Friday's bad NFP data. I'm still inclined to short EUR with caution...
Observe the hands drawn pointing up or down. Looks like we are trading inside a critical area with several rejections in both sides. We are on the verge of a reversal IMHO in spite of bad NFP data that send GOLD up and USD down. I will add some more shorts at 1850-55 area, hedge anything above 1880. Risk management is essential, all the best fellow traders.
Potential BUY area supported by indicators and oscillators or reference (MACD, STOCH, RSI, ADX...)
Few pips away of a potential SELL area.
Looks like previous impulse movement is happening again. Next target for bulls should be above 66k. Bears would look to trade below the ascending channel. All the best crypto fans.