farhadnmd

farhadnmd Updated 

Double top pattern formed clearly followed by a descending RSI and Volume. Besides a bearish divergence is noticed at the tops. Supports: 11100 10850 10496 9750 Ps: The support at 10.5K is strong, So I expect it to just draw a shadow to 9750 if it's supposed to fill the gap.

farhadnmd Updated 

It seems that the whole market is forming a head and shoulders pattern. If the total market cap rejects the range of $350B - $360B which is the all-time resistance, the right shoulder will be drawn and completes the pattern. Accordingly, it has the potential to see $285B as a correction to %61.8 Fibonacci before breaking out the all-time resistance at the range of...

farhadnmd Updated 

Ethereum is forming a head and shoulders pattern following bitcoin There is also a double bottom on the 1h chart, this double bottom drags the price to $403 - $416 which is the range of left shoulder of the pattern, In other words, it forms the right shoulder if it rejects this range.

farhadnmd

Bearish crab pattern on the monthly chart indicates that the price can hit $966 in upcoming months. A correction to $635 is expected in summer 2021

farhadnmd

Gold just formed a head and shoulders pattern on the 4h chart. A correction to 1857 which is %61.8 Fibonacci is possible.

farhadnmd

Here are my thoughts on bitcoin for upcoming days

farhadnmd

Cup and handle pattern formed in a descending trend on the edge of support can make bitcoin price go lower to 11100 and 10900

farhadnmd

Whole market is gonna experience a correction. Watch out your stop losses

farhadnmd

There are two scenarios: 1. Bitcoin will go up to 12000 and will do the correction in a sharp candle 2. It falls to 11500 and forms a head and shoulders pattern that makes it go lower

farhadnmd

Head and shoulders pattern is forming on the total market cap chart following a descending RSI and a divergence. It will do a correction to its support at $302B and immediately back to $318B as the bulls defend and the bull market will continue. This hypothesis supports my last idea about bitcoin correction to 9600

farhadnmd Updated 

Bitcoin is going to have a retracement at 9600 which is between 0.618 and 0.5 Fibonacci levels. at 9600 EMA200 will cross all-time trend right at the point that there is a big CME gap to be filled out

farhadnmd

We're at a critical point on the Bitcoin chart. It formed a symmetrical triangle pattern on the 1h chart. Bollinger bands are squeezing and we have a descending RSI volume. As altcoins are doing great fewer people are into pumping bitcoin right now in my opinion and this made bitcoin dominance to decrease and that also makes the bearish scenario more probable. ...

farhadnmd

Similar to the last retracement bitcoin experienced we have an obvious bearish divergence followed by decreasing RSI that can drag the price down to 11300

farhadnmd Updated 

Bitcoin is dropping to 11300 due to a bearish crab pattern formed recently similar to the last bearish crab pattern which made a long red candle and caused a big stop hunting move. 11300 or 11270 is a good point to buy bitcoin below 11500 for a long position in my opinion.

farhadnmd

If bitcoin closes a candle below 11100 we may see the price pull back to 10K channel through a falling wedge. This one is more probable in my opinion as it formed a head and shoulders pattern. But if not, and it breaks out the trend line it can go up to 12K channel

farhadnmd

I'm not sure if it's perfectly match head and shoulder's principles but if bitcoin drops to $11100 it will has the potential to go back to 10400

farhadnmd

I can't be bullish on this chart at the moment. Bitcoin can drop below 11K and even another stop hunting move to 9600 so it can fill the gaps

farhadnmd

This is my perspective on Ethereum. If it closes a candle under EMA50 it can break out below $358 and then EMA200 can play a role as a support.