Using the NVT indicator it appears that Bitcoin is taking off too soon. Primarily because the recent December bottom was higher than the March low of the indicator. As opposed to the previous bear market where both lows hit a 50 - 55 score. Currently there is a fine gap between that score and Bitcoin's present price. Also the bullish sequence since the end of...
Pattern: 1W Channel Down. Signal: Bearish as the price is entering the Lower High zone. Target: TP(1) 317.650, TP(2) 312.000.
Pattern: 4H Channel Down. Signal: Bearish after a new rejection on the Lower High. Target: 1.28500 (1D Support).
Pattern: Head and Shoulders on 1D. Signals: Bearish as the price touched the 1W Resistance Zone. Target: 95.95 (1W Support Zone).
I have put today price action side by side with the September - October 2018 price action. The candle flow is very similar and what follows next scary indeed. If we see similar development in the first week of April (the candle sequence in the eclipse), the we should get out of stocks! I don't need to mention that what followed was the strongest correction since...
EOS is looking good within its 1D Ascending Triangle. While the recent rally started by the bullish comments of Dan Lerimer (EOS CTO), more positive fundamentals kicked in (Bitfinex launching Eosfinex) and the $4.00 level can be turned into a support. Such strong spikes since February have most of the times turned into sideways trading until the next one (hence...
I am not some end-of-world theorist, I am just applying Jean-Paul Rodrigue's Stages of a Bubble of the Apple Inc stock. I do believe that the current price correction is not over, as the MMAR shows that since 2008/09 each correction has been longer than the previous one. And currently Apple isn't even halfway through. But if we apply the Stages of a Bubble...
Despite the fact that Bitcoin has (most likely) reached a bottom, the bear market hasn't officially ended. Although traders call the current phase the "Accumulation/ Distribution" stage, it is still an extension, even though the final one, of the bear market. So where does the confirmation of the new bull market comes? I tried to pinpoint this using the Mayer...
** Only for short term perspective. Can be invalidated by news driven volatility. ** Pattern: Channel pressure points on 1D. Signal: Bullish after a Lower High bounce. Target: 1.13080 and 1.12340. Traders who want to follow a safer approach my medium term view remains bearish and the short target below (1.1130) is still valid:
Pattern: Inverse Head and Shoulders on 4H. Channel Up on 1D. Signal: Bearish after the Resistance (Double Top) rejection. Target: 58.40 (1st supporting line) 57.50 (1D Higher Low).
Pattern: Bearish Head and Shoulders on 4H. Signal: Bearish after the neckline's Resistance rejected the price. Target: 11260 (symmetrical legs). This is my long term outlook:
Pattern: Higher Low Channel on 1D. Signal: Bullish. Target 0.08680 (the 1W Resistance Zone).
Pattern: Fibonacci retracement. Signal: Bullish as it rebounded on the 1M Suppport Zone. Target: TP1 3.450 (0.382 Fibonacci) TP2 3.720 (0.500 Fibonacci).
Pattern: Fibonacci retracement. Signal: Bullish either now (1D support) or on the 0.382 Fibonacci. Target: 2.96000.
Pattern: Ascending Triangle on 1D. Signal: Bullish after the price made a Higher Low. Target: 76.500 (1D Resistance Zone).
Pattern: Ascending Triangle on 1D. Signal: Bullish as the price made a Higher Low. Target: 874.00 (the 1D Resistance Zone).
Pattern: Bullish Channel on 1D. Signal & Target: Bearish towards the potential Higher Low (7180). If the Higher Low line breaks at any point the target would be 6915, just over the 0.382 Fibonacci.
Pattern: Channel Up on 1D. Signal: Bearish as 4H is on Lower Highs creating a Triangle. Target: 1.3060 (Higher Low). * If 1.2955 breaks it is a bearish break out from the 1D Channel Up. TP 1.2775.