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4hrchart

4hr chart 50 & 200 EMAs currently at a stalemate. Neutral until a confirmed break here however my assumption is we will see a inv h&s fakeout breakout taking us up to 11.1-11.2k and then dumping not long after to instigate the exponential 4hr death cross eventually bringing us down to the gap at 8.5k potentially. Just a thought...it could also very easily hit the full target of the inverse hea dand shoulders pattern as well or even never making back above the neckline. So for now I remain neutral.
COINBASE:BTCUSD
by DrDovetail
Exact Reversal Point on the 4H chart. All the way down to 8.5KOn the 4h we closed below the H&S neck line, validating this H&S bearish move. Measuring the size of the head, this will take us close to the next support which is around 8.5k. The 8.5k-8.6k should be the max drop we see in the next couple of days. If this absolutely doesn't hold than the next move down is towards the 50 day low of ~7.5k to support of ~7k. I don't foresee it going lower than this. So 8.6k should more than likely be the reversal point which is about 35% drop from our previous high. However, the very unlikely but still possible reversal point of 7k-7.5k is about ~45% drop from our previous high. So this can still play out since this is Bitcoin. I will be accumulating at any of these 2 areas. What are your thoughts?
COINBASE:BTCUSD
by whiterhino
EURUSD |SQUEEZE| Simple Technical AnalysisEU has been in downtrend for the past 12 months and has created a falling wedge on the weekly indicating that bulls are getting stronger. Bulls have found some support at 1.1110 which was last tested in May 2017. staying on the weekly there is a 60 pip demand zone between 1.1110-1.1170 which we have dipped into 4 times since April 22nd, each time bull have defended the area forming pin bar rejection candles. For the bearish trend to continue we need a significant break of this area bringing the next weekly support into play (150 pips away) and then the next (300 points away). On the daily we have triple bottom indicating that the downtrend is decelerating or may be over but technically this market is still bearish, so I suspect there is another leg down to the 1.1110 area and possibly a new low. I will only be considering longs once we get a significant break and close above 1.1220. On the 4hr we have a head and shoulders (cleaner on the 1hr) which drove prices from the demand zone straight into resistance of 1.1180 which is also our 61.8 fib level giving us a high probably short setup with the trend. This market may initially break to the downside enticing breakout traders to enter short then reverse to the upside so trade with caution and be ready for all eventualities.
Short
by SFX23
XRPBTC potential inverted head & shoulders n play on 4hr chart. if this triggers odds are good xrp will finally be making sustained gains against btc again for a period of time. There is also an interesting fractal with the 50 and 200ma on the 1 day chart that indicates we are due to see xrp make gains against btc soon but since this is the 4hr chart I will have to make an additional idea after i post this one that focuses on the MA fractal on the daily chart. Look for that one next.
Long
by DrDovetail
4hr chart inv h&s breakout target right at horizontal resistancetoday we brokeout of the 4hr inverted head and shoulders pattern on bitcoin and the target takes us precisely to the big horizontal resistance area of 8504 that we have as of yet failed to overcome the previous two tests of it. My guess is we will reach it on this breakout which will get us above he bigger 1 day chars ascending triangle pattern we are currently in, it will then be rejected for a 3rd time stoking fears in people that it is a triple top but on the way back down the top trendline of the 1 day chart's ascending triangle will have become solidified support which will eventually trigger the ascending triangle breakout which should take us to the 9.7k range. We could also be rejected back inside the ascending triangle for a little bit to really build up short positions to use as bull fuel before the final breakout of he triangle it would make a more convincing bear trap that way. Of course there is also always the possibility hat he correction could happen after a 3rd rejection/triple top at the 8504 resistance....its is the least probable of the 3 outcomes but always wise o consider every potential outcome. As I stated in the previous idea, we also have a possibility for the ascending triangle to be validated as a bullish pennant in which case the breakout target for the pennant would be 10776 and with fomo added in we could even test 11k at that point before the firs significant correction. However my presumption is the 9.6-9.9k range is he most probable before the first significant correction. All just my personal thoughts of course and in no way financial advice. thanks for reading!
BITSTAMP:BTCUSDLong
by DrDovetail