Convergence
MGM: **Updated. Do you see the convergence? I made a mistake and forgot to draw in the convergence. I always use a Macd. I hope this makes the picture clearer. Refer to my other post for a detailed analysis of the price gap. Cheers.
BSV. New high? Is there a Convergence? Hello everyone. We’ve made a new high in bsv with a large wick. We have half a day left of this trade. Let’s see where it closes. At the same time a convergence is forming between the new high and the macd. I’m feeling there’s a hint that it will go down but the market can do anything.
BTCUSD to 9400 and back downBTC's pricing has stabilized quite a bit in a sideways wedge formation. Taking a look at the top, we can expect BTC to move up to 9300-9500 in the short-term. As SPX becomes more turbulent and loses ground, BTC will drop back down to the high 5000s, where it will once again begin its ascent to stabilize around the 7200 mark.
BTCUSD FULL ANALYSISWelcome back traders! We are going to look at BTCUSD today on the monthly, weekly, daily, 12h, and 4h. We will look at Simple Moving Averages(SMA's,) Exponential Moving Averages(EMA's,) Oscillators, Visible Range Volume Profile(VPVR,) and more!
MONTHLY
The giant pattern on the monthly points to $6,450. We want to see BTC stay above the 21 EMA, currently at $7,323. If we see a major breakout, clearing the 10 day SMA, currently at $8,350, would be indicative of further bullish activity, perhaps even a catapult to a new all time high. The Awesome Oscillator is decreasing at a decreasing pace, but still on track to hit zero. The last time the AO crossed from positive to negative (also at a decreasing rate of decline,) the bull cycle of 2019 began.
WEEKLY
There is Bullish Divergence on the weekly with the AO.
The t3-cci oscillator is negative and increasing at an increasing rate, which is also bullish.
The MACD_VXI appears to be beginning convergence, which would be bullish.
RSI has locally bottomed at the price of $3,850, which could indicate a low.
Currently, the price is resting just above the .382 Fibonacci retracement from $13,800.
Daily
Our VPVR has the strongest Point of Control(POC) at just above $7,200, with the highest volume node ranging from $7,150 to $7,350 (this indicates a likely strong area for support and resistance.) If these levels break, the next major area for support is just above $6,600.
It is also noteworthy that RSI is above 53, which has been a significant level for bullish activity. Lastly, the 50 day SMA is acting as a resistance, and will need to be concurred for further bullish activity.
12H
This zoomed out chart of the 12H gives us a target if bullish activity continues, with a POC just about $7,900. The next challenge will be the 100 day SMA at $7,475, which is acting as resistance.
4H
Although there is an ascending bearish wedge forming, there are bullish signs on this chart as well. The 10 day and 200 day SMA's just crossed on April 5, and BTC has recently crossed the 200 day SMA as well. Despite the T3-CCI indicator originally heading towards zero, it appears to be curving back up. The AO is decreasing less than it has been, and may see a change in direction soon as well.
SUMMARY
Long Term
Bitcoin is holding up in the long term, and overall bullish. We want to stay above $6,450 according to the giant patterns on the monthly and weekly charts, and we are holding strong above our significant long term POC's. The support along the .382 FIB is a great sign on the weekly, and $7,900 is the next target, assuming bullish activity continues.
Short Term
The cross between the 200 day SMA and 10 day SMA is a bullish sign, especially with the recent overcoming of the 200 day SMA. The bearish wedge forming on the 4H is a concern and should be monitored closely. Ideally, the price will remain above $7,150 for further bullish activity.
Disclaimer: This is NOT trading advice, NOR financial advice! These are merely my opinions that I have posted for educational purposes ONLY. Trading comes with great risk, which should be managed carefully. You should never trade anything more than you are willing to lose. I hope you all kill it, but I am not responsible for any financial loss or damages. Thanks for reading!
Where does the Wave go from Here?February ended with that gravestone doji and was the first indicator of what has recently played out for Bitcoin. Where or where do we go from here? Well, tried and true is what the Elliot Wave is a standard.
I'm just sharing a look at where my trajectory is when this is posted. Part of work I started back in Aug 19. It'd not final and it should not be taken as advice nor prediction. It's for educational purpose, is material and that's all.
BTC : feb 2020Bitcoin daily chart. Our bitcoin has approached the November maximum, our bitcoin has overheated indicators, macd shows divergence, and we also have growth in the wedge. Trading volumes are declining. The last day candle is very similar to the reversal, but it has not yet been formed. All these signals indicate a possible fall of 10-15%.
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BTC : dec 2019- mar 2020Bitcoin weekly chart. There is a wedge with convergence, indicators are also overheated by the sale. Last week's candle was a reversal, which is a very good signal. I still leave the possibility of going to 6000, if so, then convergence should increase and create an even stronger impetus for growth. The 6000 range is very strong, a lot of trading was done on it. Volumes are also declining now.
BTC IS EXHAUSTED!As we made a 44% move from $6412 to $9190 we see on RSI that its quickly making higher highs indicating that the bulls have exhausted their push up. We refer to this as convergence.
Another strong signal is when we take the top of $10572 and the low $6412 and put a fibonacci on it, we see a 61.8 retrace which is $8983 which price has moved to $9190 bringing it within the 61.8 retrace level.
I would be looking for shorts from this area as it seems fairly safe to do so being at the top of this downward trend.
USD/JPY convergence & divergence 30 min USD/JPY convergence & divergence pattern in 30 min candlestick chart.
Volume flow index starting to form crossover for bear move.
USD has negative forecast in economic calendar.
Expect +15 pips bear move for entry at support.
This Moving Average and Fib Converging Soon to Spark Bull Run?!Looking at BITSTAMP:BTCUSD 's weekly chart, we see that the 200 MA is heading upwards to (possibly soon) converge and cross over the 78.60% Fib which is at $5469.89.
The 200 MA is where institutions, whales, and or countries stepped in and bought at $3122.28. whereafter BTC had a 350% run to the upside.
Hence, there is a strong probability that if BTC decides to test the 5K range, approximately $5500 will be the bottom where BTC turns around for lift off into a new bull run.
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LTCBTC ready for a trendreversal?Welcome fellow Tradingveiwers,
This analyses is only showing you guys my vision on LTC and should not be considered as financial advice. If you agree or find this analyses useful, don't forget to leave a Like !
Monthly :
A lot of wicks in the last couple of monthly candles, could show indecisiveness in the market.
Weekly :
Candles are not looking to promising
Also far below the MA's
But there is a huge RSI and MACD convergens which cannot be ignored.
For the ones following forallcrypto on the other social media channels, you have all seen how the bullish MACD crossover on the weekly helped us predict the bottem of BTC back in the start of 2019.
So we value this HUGE MACD and RSI convergence as a pretty bullish signal.
Daily :
Candles are indecisive slightly below MA's and not a lot of volume.
Start of the formation of a triple bottom formation.
4H :
We are currently moving inside a descending channel, which would be bullish upon breakout.
Clearer view of the triple bottom formation seen.
Triple bottom patterns are known to be reversal patterns.
MACD RSI ready for bullish momentum.
What's next?
We can now clearly see that we are forming a triple bottom while the weekly MACD has crossed bullish, the RSI has been at a flat level for some time now and also showing a convergence. Becasue the LTCUSD chart is currently forming a double bottom this could become a explosive breakout WHEN we breakout.
If this triple bottom has enough strength to break the 200 D MA then we can begin to speak of a trendreversal. But for now it is to soon. The target of the triple bottom in BTC terms will be around 0.0082 sats and would now be just short of the 200 D MA. I can't wait to see how this plays out.
If you guys liked this analyses please let me know in the comments below!
Kind regards,
Forallcrypto
Bitcoin whats's next part 2Welcome fellow Tradingviewers,
We will be looking at the price action from Bitcoin this time only taking the daily graph into account.
We failed to keep the stated levels yesterday, the moving averages seemed to strong, and they still do.
This definitely puts the bears in favor.
Looking at the bigger picture we can see that we are now starting to form a falling wedge.
Wedges are one of our favorite patterns to trade although this one does not have the best shape of them all.
Besides the falling wedge we can clearly see a huge divergence on the MACD as wel as on the RSI .
Divergences like this usually favor a breakout to the upside which would give the bulls a lot of power.
Whats's next?
We will be waiting to see how the resistance of the wedge will be holding up as well as the moving averages.
We will either:
Open a long upon breakout of the wedge, or open a long upon reaching the lower trendline around 6200 dollars.
This analyses is only showing you guys my vision on BTC and should not be considered as financial advice.
If you agree or find this analyses useful, don't forget to leave a Like !
And if you disagree or have a comment , let me know below!
Kind regards,
Forallcrypto
1000$ to 20 000$, let's climb the mountainHi my friends,
We met 2 years ago, and we make long road together. Today it's time to make what we have to make.
The plan is to begin with 1000$ and achieve the goal to obtain 20 000$ (all this is a training with a demo account, the experience is the most important).
Rules:
-no timer to achieve the goal
-only 2%MM on each trade and no leverage
-no cheat
-of course you can make your own trades, it's not an obligation to follow only my trades (but I will refresh my data on each trade
Let's go!
If you decide to follow this challenge, let's put your boots and Walk!
I don't understand why you wait so long to put your boots, GTFO of here and go to work! :) (of course you can stay on the side and don't do it but it's better if you take the decisions to try on a demo account)
