EOS / BTC The 7th day of Christmas my EOS gave to me, GAINS Hello everyone,
EOS is looking bullish right now and found a falling wedge formed also breakout of it, also formed a small symmetrical triangle in the wedge also broke out of that, the measured move of the falling wedge would be the top white line that label measured move.
All the indicators I have on this chart confirms BULLS have the control, EOS is has been strong this month but will it continue? Stay tuned :)
Leave your ideas and comments below.
Cyrptocurrency
BITCOIN PREDICTION, SEE THE PATTERNS. 10K CRITICAL LEVELBitcoin needs to pass our resistance line around 10k for possibility 2 to become more likely. We are consolidating in our triangle and I think we will see one more curve down before popping out and getting above 10k. Obviously I would rather have possibility 2 be the truth, but it is less likely. Volume is low and MACD turning downward. Lots of good news in crypto lately may make the probability of #2 more likely. Calculate your risks and make a decision from the patterns. Either way I see bitcoin going up in the near future.
BTC is bullish again! 3 targets for the mid-long term.Risk: Medium
Please be advised that this is only an idea, so you are responsible for any losses yourself. Never put more than 2-4% of your account in one trade.
Give this idea a like to see more strategies like this on Tradingview, I'll give small updates only on Twitter.
Analysis:
Alright, as you know I shorted BTC since January. Finally, we have bullish signs again and I explain you why in this idea.
BTC bounced the 50ma weekly the beginning of this month. This was also a target in my previous idea.
BTC failed to break this level downwards and that was a sign for the bulls to buy BTC again. They succesfully did, as you can see in the MACD we received a buy signal on the bottom precisely. It triggered the bulls and we broke out our downwards channel. That was a clear signal for me to close my shorts and I did. I reanalysed BTC I tried to short it again, with a SL above 8950 and the bulls won. No worries I secured a lot of profits on our way down. We all saw how tough that 8950 resistance was and personally I thought that we were going to see a new correction from there. I didn't happen, and it resulted to what we saw yesterday: a huge green candle.
Why am I bullish again? I just explained a little, but we formed a bottom (3) and bounced the 50ma weekly (not on this chart). The MACD turned bullish and we formed a higher high and formed a lower low (2) After breaking the 50ma daily, we saw a big green candle again and we had a three days fight with the 8950 level. This was a sign for me to turn to bullish positions and the close above resistance automatically lead to a lot of buyers in the market again. We formed a new higher high at the 200ma and we failed to break. But that’s normal, we can’t go up in straight line and we also can’t go down in a straight line. Simple as that.
What we saw today is a big red candle. It’s nothing more than logical. We just saw a strong bullish run, so we need also need to see a correction before we go up further. As we see most of the time, our old tough resistance is our friend now. It turned in a strong support level. For now… I have drawn our strong upwards small channel in the chart, maybe we will stay trading in this range. I hope so, but it’s likely that we will break our support (1) coming days and that we will put a higher low again around 8400. Our previous HH. Let’s set some targets:
Buy: Now or in equal parts towards (2). You can trade this in a lot of ways.
Target 1: 9668
Target 2: 10634 now (20ma weekly)*
Target 3: 11439
SL: Below (2). If a candle on the daily chart closes below (2)
* Target 2 is another key level. It will decide or BTC will be bullish for the long-term. This is a level where the declining 20ma and the double top come together.
Don’t forget the like and feel free to ask me questions or to post your chart below to discuss it.
BCH and BTC - Double Agents and ResistanceStats:
RVI - Dipped today and yesterday, expected from the last charts I posted.
VI - (-) Indicates that we have some more sales coming
VI - (+) Indicates that even with sales, we still have a bull run going (at least for now)
Volume - Highest volume this month, which is good signs for a bounce when combined with RVI and VI.
BTC/USD - BTC has been on a tare as well, however the past 2 days it also dipped. As BCH's value is intimately intertwined with BTC (trading BTC->BCH) we would expect that with BTC falls, BCH will fall.
BTC is currently encoutering MACD resistance, and BCH is beginning to stall out to find a new support line. The most immediate support would be 1317 by calculation, or 1300 as a mentally pleasing number. If we see continued to support at 1300, we can expect that over the next week we will have volatility between 3-6% of its current value (approx 1300 to 1400).
BTC: Triangle correction possibility after last night's moveAfter last night's move up, the possibility of a triangle correction that would complete the cycle-level 4 emerges. If this chart plays out, buying the E could be the BTC trade of the year, since you would be buying the bottom of a cycle-level 5 impuluse which should easily take us to new highs before its completion.
The deep 73%+ retracement level is uncharacteristic of a 4 and of a triangle, but it is hard to deny it as a possibility given the geometry.
DEATH DAGGER! R.I.P, Death of BITCOIN?I think this chart pattern that I am seeing lately should be called the Death Dagger :)
First of all, NO-I do not think BTC is going to die! Although, it may be going down for an 8 count!
So far my trend analysis has been very much inline with how BTC has been behaving, this is very exciting for me! There is no magic here, just using my data analysis background to identify trends, support, levels, and making my best guess as to what is going to happen. And now many big names are showing similar ideas that I posted a week ago :)
My previous thoughts are still valid going back in time 7 plus days! As you know, in crypto that is an eternity. I urge you to go check out my previous ideas, they are more serious than this one.
Key levels to watch is this new support at ~6500-6600, I do believe this is a very important level as I've mentioned before. We've essentially been trading in this tight window all day, and I believe that once we have a a significant close out below 6500, we will likely go to 5800-6000! There I suspect we will rinse and repeat what we saw at $6800. I've had this idea since last week, and as a result resisted temptation to FOMO in during the bounce.
If this interests you take look at my ideas and feel free to leave a comment/like/follow. This idea is similar to my previous, but mostly for fun! I'd love to chat about your ideas and learn from you.
The down trend is still on continuation BUTSince 06 FEB dip, BTC has rallied and has been churning around the upper band. This is a bit nervous structure for both Bears and Bulls. For bears , definitely waiting for the lower band to get in while bulls and anxious about keeping in the down trend. My experience tells me that, there is a kind of will to go up but still waiting for the cheapest price to start the rally, while drifting downward
VEN - Reaching the end of a monster pennantVecChain has been forming what seems to be a huge pennant, similar to lots of strong alts on the market.
~15 days, it will reach the end.
With all the market FUD we have had over the past few months, VENBTC may struggle to break out of the pennant due to bitcoin's movement.
Either way, we are seeing a 12345 impulse towards the resistance - lets see how this plays out! Updates as we go with this one.
NB: please trade at your own risk, this information is for your education.
AB
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TRX TRON CUP AND HANDLE FORMATIONTron has been forming a perfect cup and handle formation. We can expect Tron to break out of the handle and look to the upside. LIKE if you agree!!!
This is not investment advice and is for educational purposes only. SmartCrypto LLC takes no responsibility for any trade losses or gains.
At the borderline, with ETC. We've seen what an airdrop has done to other coins. The move is not certain. The yellow channel has been the lead since some weeks ago (again), but it looks like in the 4hr chart there is a Bearish Triangle in the move. BITFINEX:ETCUSD is oscillating on the conservative-uptrend channel, but it is compressing. If it keeps it's way in the channel, we can still expect for a bullrun before the ICO (DYOR, it doesn't have the same impact on every coin). If it falls from the channel again... The first support will be around 31 dlls (last bounce - fib).
As you can see, the green (upper) channel, which represents an optimistic uptrend, was the resistance in the last bullrun.
I'll update tomorrow.