Multiple Fibonacci retracements appear to show a 0.786 region history and current confluence. Will this region (which has remained valid in the past, even with 25% variance around the exact level) hold ?
Multiple Fibonacci retracements appear to show a 0.786 region history and current confluence. Will this region (which has remained valid in the past, even with 25% variance around the exact level) hold ?
Multiple Fibonacci retracements appear to show a 0.786 region history and current confluence. Will this region (which has remained valid in the past, even with 25% variance around the exact level) hold ?
This kind of just popped out to me when I was thinking about Fib retracements vs extensions. Anyways, the BTC fib retracement has us currently in the region of 0.786 of the last bull trend. This is the exact same fib value that the last bear trend bottomed out at relative to it's previous bull market. Last time it rubber banded around this level by around 10 -...
Will 6K hold? IMO this longs (blue) vs shorts (red) chart is ominous for the bulls. Longs are stacking, while shorts are being cautious. In the context of a) extremely low organic volume into the Crypto space, b) not enough shorts to fuel a short squeeze and c) plenty of longs to provide a stop loss cascade if 6000 breaks, this is the last chance saloon for the bulls.
Collating the best ideas I've found from @CryptoCoinMakr and @ChartGuys I think the best model for #Bitcoin is a tightening equilibrium pattern, with swing changes around futures expiry dates. Key levels on 5th of each month shown in the image. Equilibrium break imminent this summer. Not possible to know which way the equilibrium pattern will break.
EOSUSD is forming a rising wedge on the 1 hour time frame. Volumes are dropping and longs have also dropped in the last day. This entire pump was just hype and deserves to crash. If it collapses, it might be a good short if you can find borrows.
Key resistance was $390, seems to be heading for a daily candle close above this level. May be a good buy after a pullback and longer term indicators reset and if we see continued spiking price action and volume
Could be attempting breakout. I'm still quite bearish on this since the spike was purely off the news of an airdrop which is now over and people will look to cash in soon. Also longs are at a high, which could create a stop loss breakdown
Bitcoin logarithmic chart, with over head trend lines, lower level support lines, fibonacci overlays and an idea about how price action may evolve. Notice that the fibonacci levels have largely been respected on every dip and partial recovery since the December 2017 highs. We are now below the lowest Fib level, means that it's likely free fall down to $6000/$7000...
