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BTC (Y19.P2.E25).v2.Macro.Observations.Bearish.Factural.E02Continuing on with the MACRO observations, I revisited my previous Fractural and did some fib. measurements, to find confluences, with the following assumptions. a) Last part of the 1st factural where it bounced 40% to hit 10.4K, the $400 to be ignored due to the exceptional circumstances of the pump, hitting the 0.618 to 0.65 fib extension level. b) Applying the same method to the second factural, another descending triangle appears and which currently matches the first macro pattern to bounce and hit the 0.618 to 0.65 fib extension level, and not to go further than this high. If we apply the same fib.extension within the bounds of its associated descending triangle as per the chart, we can see we have the next target as 6100 - 6200 range. Even though this is very unlikely to happen, we are assuming the main thing is the price behavior will repeat again for the 2nd time. Its also interesting to observe that the target for this range has many TA's stating that the bottom is likely to be low 6Ks (using the volume profile indicator\metrics) I thought its worth sharing so people can ponder on it and come up with their own conclusions. Previous post related to this item Please give a thumbs up or a like if you agree or just appreciate the effort. Regards, S.Sari /CryptoProspa
by ssari
$VET showing strong Fibonacci$VET became one of my favorites after I saw it created a strong support at 35- 40 sat area. So I brought in bag full of $VET during it lower consolidation area. My recent analysis using Fibanacci reflects that we might see a strong uptrend in $VET if $BTC keeps stable. You can enter between 85 - 90 area. Stop loss at 75 or when $BTC goes crazy I will set exits as below, overall 50% profit from entire plan. Risk/Reward Ratio 1:3 30% of volume at 110 with 22% profit 30% of volume at 130 with 44% profit 30% of volume at 150 with 66% profit 10% of volume at 180 with 100% profit
Long
by cryptochi1986
BTC 12H Lower Highs as a Guide BTC bears keeping control as we see EMA12 rejections on the 12H chart and clear stair steps of lower highs on the way down. I am using the 12H time frame as the moves on the shorter term time frames are less clear in the past couple weeks of action in my opinion. ETH and LTC continue to hold on better, but they are not immune to the BTC pullback. Still watching the 12H falling wedge as long as lower lows do not see any meaningful follow through. Bears have no reason to cover positions as long as this trend remains, and while bulls are scouting entries and trying to pick their spots, many short term bulls have been stopped out due to lack of follow through on any bull moves. I personally will continue to wait patiently on the sidelines and set the criteria that I am not interested in a bullish position while EMA12 resistance on teh 12H chart remains.
COINBASE:BTCUSD
by TheChartGuys
1
Litecoin: Bull modeAs predicted in a previous post... Litecoin made a marginal lower low then proceeded to make an impulse move upwards... I am of the opinion that $47 was the low for the next run higher... I added to my position at that level and will continue to buy the dip whenever feasible... I expect a 3 wave pullback to occur soon and that will be the next opportunity to load up... Looking at the daily chart I believe we are currently in wave 3 of a larger 5 wave move up... My next target to take profits will be around the $400 mark (subject to change over time)... Thanks for checking out my idea! I am open to comments and constructive criticism... I encourage you to follow me on tradingview!
COINBASE:LTCUSDLong
by Chadison-Brosevelt
BTCUSD $7,900 importantBitcoin looks set to close the trading week in the red, as the number one cryptocurrency by market capitalization fails to rally from the $8,000 support level. The $7,900 level is the key level to watch today if weakness persists under the $8,000 level today. A sustained breakout of the $7,900 level is likely to trigger heavy BTCUSD technical selling towards the $7,500 support level. • The BTCUSD pair is only bullish while trading above the $8,600 level, key resistance is located at the $8,810 and $9,100 levels. • If the BTCUSD pair trades under the $8,600 level, sellers may test towards the $7,900 and $7,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
80 area is a clue to directionMorning guys, So our last udate setup is done - market has completed retracement to 5/8 Fib support area, forming "222' Buy" pattern and now is the moment of truth, because 8K level is a key to further direction. Downside breakout will significantly diminish chances on upside continuation and, in fact, will mean continuation of major downside trend. While, until BTC stands above it, it still could show deeper upside retracement, in a shape of AB-CD pattern. Its target stands around 8.8 area. Thus depending on your view - you could act accordingly. Bulls could drop time frame more and take long position, as current price lets to place very tight stop, just below major 5/8 level, hoping that upward action will happen. While bears should wait either for completion of 8.8K target or - yes, downside breakout of 8K level. So, Stop "Sell" order could be used.
COINBASE:BTCUSD
by Sive-Morten
4