Pattern: Double Top on 4H. Signal: Bearish if the previous low (1.12900) breaks (last time failed). Target: 1.1115 (1W Support).
Pattern: Channel Up on 1D. Signal: Bullish as long as the S1 and S2 hold. Target: 2940. *note: How the support levels (S1, S2) match the Fibonacci retracement levels (0.618, 0.500).
Pattern: Inverse Head and Shoulders on 4H, Channel Down on 1H. Signal: Bearish as the price was rejected on the top of the neckline and the 1H Channel Down is pricing a new Lower High. Target: 1.2640.
Last week Bitcoin closed its first bearish 1W candle (-7.32%) since April 21 (-2.82%), which was the strongest red candle since February 24 (marginally as this one was at -7.34%, the next one was at December 2 at -17.91%). So how bad can this be for BTC? A quick answer is not bad at all! Such a formation doesn't hurt Bitcoin's bullish chances, in fact it enhances...
Pattern: 1D Rising Wedge. Signal: Bullish as the price reached the Higher Low trend line as well as the 1D MA200. Target 98.330 (the 1D Resistance and pattern top).
Pattern: 4H correction after a 1D High. Signal: Bullish as the price is testing the 0.618 Fibonacci retracement level and 1D Support Zone. Target: 0.88240 and 0.88800 (if 0.382 breaks).
XRPUSD has an uncanny ability to offer high accuracy trading signals on well recognized technical patterns. Such was the buy signal on the 0.618 Fibonacci Lower High sequence I identified on May 10th: So what signal does it offer now? XRP made a Golden Cross recently on 1D. Technically this is considered to be a bullish sign and the start of an upcoming...
Pattern: Gap filling of previous 1W Lower Highs. Signal: Bullish once the price makes a full test of the 1D Support Zone after being rejected on the 1W Resistance Zone. Target 0.18000 (the low of the last 1W Lower High).
Pattern: Inverse Head and Shoulders on 4H within a 1D Channel Down. Signal: Bullish if the Lower High trend line breaks (green bold line) and as long as the Support Zone indicated holds. Target: 12300 (the 1D Resistance).
Pattern: Descending Head and Shoulders on 1W. Signal: Bullish above the Lower High trend line and within 24700 - 25200. Supporting: thr 0.382 Fibonacci and RSI at 30. Target: 26700 (1W Resistance).
Up to this point the current 22 day candle action is identical to the April 03 - April 25 fractal. Similar candle sequence, identical duration, higher highs and low with a support (black) line that never broke. This suggests that Bitcoin is about to issue a bullish spike. However, if that doesn't happen and certain conditions aren't met, BTC may be "in trouble"...
Pattern: Cup formation on 1W. Signal: Bullish as the pattern is about to break aggressively towards its Top. Target: 15.4000 (the formation's Resistance).
Pattern: Channel Down on 1D. Signal: Bullish as the Lower High broke to the upside. Target: 2840 initially, medium term extensions include 2870 and 2890 (all 1D Resistances). *note: buy backs above 2766 for the medium term.
Pattern: Channel Down on 1D. Signal: Bearish as the price entered the Lower High belt. Target: 1.1115 (1D Support).
Pattern: Ascending Triangle on 1D. Signal: Bearish as it is testing the last Resistance (twin rejection) Zone before the 2019 High. Target: 1290 (Higher Low on 1W). * If the Resistance Zone breaks, assume a fast rise to 1345.
Pattern: Resistance/ Support trading based on Fibonacci levels. Signal: Bullish as the price is near the 0.618 Fibonacci retracement level and the 50.40 - 51.25 1W Support Zone. Target: 57.45 (the 0.382 Fibonacci level which may act as a Resistance).
Bitcoin is now next to making the 0.382 Fibonacci retracement test (ATH to 3150 bear cycle Low) and one thing has shocked the crypto world more than anything. The considerably shorter time it has taken BTC to do so compared to the previous two cycles. Few expected such a strong and continuous rebound since the 3150 bottom. Is this right? Since most researchers...
This strong pull back the moment Bitcoin broke the 9000 barrier has many worried. But should we be? In this analysis I point out which levels we need to watch, and if they hold, are able to sustain the aggressive uptrend that started in early February. First we see that in the course of this Parabolic Rise, every time BTC pulled back from a peak, the Support line...