elegant_banzai

elegant_banzai

The Ichimoku cloud indicators turn up to favor a bullish move after in the previous months the price has stayed within a channel that is about 20% wide. Huge room for accumulation! Who accumulates also wants to pump. This doesn't have to happen tomorrow but once the ichimoku cloud breaks the target is probably reached very quick.

elegant_banzai

the following trade could work because the second candle outside of the bollinger bands on the daily favors a quick reversal and provides a low risk entry that makes it cheap to find out.

elegant_banzai

A harmonic pattern called cypher with profit targets of 38% and 61% of the distance between C an D became more likely with the current found support in BTC and divergences in RSI on the daily and MACD on the 4h chart. The MACD divergence is not super pretty as you can see on the picture below but I use it for a risk reduced entry at this point, since it is likely...

elegant_banzai

Connecting the bottoms the current test of support as indicated by the lower blue line can be seen as last line of defense before testing the lows around $3100. the macd of the 1h resolution shows a nice bullish divergence currently at the edge of the bollinger band which gives hope for a potential counter move to the upside. current support should be found around...

elegant_banzai

It's time for a new weekend gap. Without looking at the upcoming news schedule, I can almost certainly say that something will happen that can drive the markets up on Monday. The reason is that shorting here would just be too simple. Of course we have enough targets on the downside to collect, but we also have two down gaps out of the blue during the last week...

elegant_banzai

I just made this one for a friend to calm give him some direction in what looks like a free fall on first sight. I want to point out that there is always the possibility of a further decline, but since currently at $3400 we are close to the lows around $3200 (oh my god thats actually 6%!) chances are high that we would retest the current support level on short...

elegant_banzai

I know thats a big bet but I can afford it because I have no position in this coin. The reason why I write about it is that I expected big things from it earlier and I heard of Liquid or Quoine being one of the shadiest exchanges out there associated with the Yakuza and that makes me believe they will find a way to make their performance one way or the other. Now...

elegant_banzai

Do you really think ADA won't deliver? If yes, then just skip further. If you are in doubt, consider that it's frontman has a good track record: BitShares, Ethereum, Lisk and now Cardano. Judging from the rules of harmonic patterns, this should not be taken lightly. For now it seems that a christmas rally can lift the ADA price about 333% in the most likely case...

elegant_banzai

So how can that gem be overlooked? The minimum target is the 38% retracement of AD but while we are at it the 62% often get reached as well. Especially in crypto. Lets not be greedy and secure the 30% profit on the table.

elegant_banzai

If this pattern plays out it can deliver a nice risk reward opportunity. But first a little retrace has to fuel the bull power for the short term profits of the shorts. lets give it another 2 weeks from here. By that time the Ichimoku Cloud as support level should align with the 38% retracement of the AD leg and give us a good position to add to a long. Always...

elegant_banzai

This is a good one. I Don't draw the 61% target as it would mean 160% profit. I only target the 38% retracement of the longest range spanned by AD. The trade almost got stopped out, but so far we can still believe. All depends on Bitcoin and if you want to believe too.

elegant_banzai

It's a bit stretched but as patterns are not often 100% accurate i still want to make the point here that we might expect a little rally with good risk reward which is not too late to jump on right now. Depends of course on what Bitcoin does. But the end of the year should favor the upside, especially as sentiment currently is as bad as it can get, means: shorts...

elegant_banzai

Just a little push more and our beloved little ETH could take a deep breath and follow its path to new prosperity started by a initial Gartley fueled rocket.

elegant_banzai

Not finished yet, but tonight it might happen. Get your order ready before the sale is over and tae a nap to wake up in profit.

elegant_banzai

BitShares formed a almost perfect Deep Crab that is already on the way to resolve to the upside. If Bitcoin goes up as well this can be a wonderful end of year rally.

elegant_banzai

After my last years post about the excellent buying opportunity I fully recommend UEX today due to a (imperfect) bullish gartley pattern that i identified. the buy trigger already hit, but the potential gains are somewhere around 50% which allows us to jump late on the train. i would go for the 61% fibonacci target. the 32% target is the safe one, but sometimes...

elegant_banzai

My beloved trading view analysts are happy to give recommendations to trade bottomed out alts with 100% profit targets. Check it out, it sounds amazing! I want to believe. But I don't see any convincing volume that can make me bullish yet in Bitcoin. Nothing wrong with being wrong as long as you don't risk being wiped out your capital, so the safest bet is to...

elegant_banzai

The momentum divergences and the declining volume in BTC let me search for support levels and the most likely support to hold for a bit is 6800, because on the 4h chart it is the lower Bollinger Band and the upper limit of the Ichimoku cloud and in reach of the lagging average. Additionally it would align with the minimum retracement target of 38% for the current...