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Bull Run is taking a breather price action @ 200EMA resistanceThe bulls need a breather after that exciting run and have been stopped at least temporsrily in their tracks when the 200 EMA(in orange) closed the gate on them....Now that the bulls have had a taste, their hunger is probably running wild and they may very well be able to burst through the 200EMA gate and just above it the 200 SMA wall as well when they retest it...won't be easy but I'd say after maybe a minor retrace they could very easily regain a second wind...therefore my advice is to not make any major moves at this time.... but if you're able buy the dips to the support line. If now that the price has both closed yesterday's candle at the 200day EMA and bounced down off of that same 200 day EMA(once again in orange) to start the new candle I'd say the odds are very likely that it could act as temporary resistance as the bulls take a breather. Buy the dips once we figure out where solid support is. (Most likely the T line(in yellow) This is only what I would do anyways, not financial advice of course...you do you and best of fortunes to you in all your trading.
BITFINEX:BTCUSD
by DrDovetail
Neo may test bullish channelThe moving average at 100 day close and 21 close are beginning to converge amidst resistance test. This local resistance is at $118 and will be approached in in the coming day. If volume picks up and Bollinger bands and Keltner channels stay tight with increased volume, a bull run is possible. If a bounce off the resistance happens and movement breaks the local support at $94 expect a bear run to the next support. Overall, optimistic that Neo will shine this spring and will be $250 by summer.
BITFINEX:NEOUSDLong
by Distorta
Yesterday's red doji was indeed a reversal sign.As I said in my last idea 4 hours ago...even though the price action of yesterday's candle did exactly as I predicted it would while forming another encouraging higher low/higher high combo(which is great for an ongoing bull trend), it also formed a red doji, coming off of a bullish pattern which usually signals a reversal and leads to at minimum a temporary dip of consolidation/retracement. Which is what we are seeing now. keep a close eye on volume, rsi, mac d, and any sort of gaps down(fortunately no gap down) on the current day's candle to signal whether or not we're in for a dip or not. If so pull out as much as you're comfortable with and get ready for the next bounce. we are still potentially in this descending wedge, the very last tip of it in fact so there's a chance it may just bounce right off the bottom of the wedge without actually having to drop much in it's price range and bounce high enough to break out of the top of the wedge and continue it's bull run...currently the price has slightly bounced off an old support line of the 200 SMA (purple line) and hopefully it is just wicking down....it hasn't reached the bottom line of the descending wedge yet so it's still too early to tell if it will go below that, but even if it does that could potential be just a wick once it closes as well....on the flip side if it's looking like this candle turns into a bearish engulfing candle I'll be taking out all of my btc and waiting for the price to correct before jumping back in.I will be watching the 200SMA(purple line) and bottom trend line of the descending wedge to see if I can find a good support zone. ...just be prepared for whatever happens, choose wisely, and make your own decisions as this is not financial advice ;)
BITFINEX:BTCUSD
by DrDovetail
BTCs 1Day Candle testing 200EMA as resistance…Tline now support?Todays BTC Candle has been wicking above the T-line(yellow line) quite a few times today which has acted as strong resistance the past couple days. It has now gone up above the t-line and touched The 200EMA(orange line) and bounced down off it a couple times today and currently, todays candle is as of this writing, still above the T-line. It's possible then that we may be back on top of the t-line with it now acting as support and the new resistance is the 200EMA(orange line) instead of the 200SMA(purple line) that served a support the last couple days. Of course we still have 2 hours left before the close so It could still close under the t-line and could still find a way to have the same lines of support and resistance as yesterday. I think either outcome is equally possible at this point or even a mixture of the 2 where the 200SMA is still the support line but the 200EMA is the new resistance. Both interestingly enough are being reinforced with different fibonacci extension lines(blue and turquoise). Being that the price has not been above the t-line on the daily for 13 days now its due. However today didn't carry much volume, RSI is neither overbought or oversold, and Mac D is only giving buy signals on the 1 hour and 4 hour so I think we may close under the tline...whichever of the equally likely outcomes occurs I'll be doing very moderate range trading, buying in fractional amounts just above the purple line and selling fractional amounts just below the orange line. Yo do you as this is not financial advise ;)
BITFINEX:BTCUSDLong
by DrDovetail
Today's Candle is Stuck Between the t line and the 200 SMAIf you take a look at this zoomed in picture i65.tinypic.com you will see that today's candle has been repeatedly bouncing up off of the 200 day simple moving average (purple) using it as a support line and also the T line(yellow) seems to be retaining its role from yesterday as the resistance line. Hopefulyl one of these bounces off of the 200SMA will give it enough momentum to close above the tline for the first time in 13 days. Now that the range has tightened it usually results in a big momentum boost one way or the other....hopefully that boost is upward.
BITFINEX:BTCUSDLong
by DrDovetail
Bears break under wedge trendline, 200ema, and possibly 200 MAThe double bullish reversal hammers on the day chart the last few days turned out to be yet another bull trap by the bears. It was first evident when the second green hammer had hardly any volume coupled with it....but far more evident once the next days candle(yesterday) began forming a bearish engulfing candle giving a solid warning to sell. The bearish engulfing candle also didn't have any volume with it the day of the candle but as expected we are now seeing a huge impulse of bearish volume today taking us even further down now below the 200SMA. I do believe however the 200 MA has responded very well in the past to having acted as a support so there's still a slim chance we may see by the end of today's candle that the candle finds a way to close back above the 200SMA. I think if you look at the biggest bullish volume swell in BTCs history (September 15th) you will see the day prior to that candle it had a bearish volume spike around the size of the 2 we've seen in the last couple days. I also think once Bittrex and Binance open their doors back up to the public and bittrex allows for more USD pairings which is supposedly on the way, you're gonna see another big influx. We may dip potentially as low as the 5000s before that occurs though. So hodl with all your might, develop nerves of steel, and remember to look out for bull traps disguised as valid bull trends. Also if today's candle does close beneath the 200SMA mI expect because of that and because this was a valid bearish engulfing candle that a dip as far as the mid to upper 5,000s is possible. I'd say its well worth laddering in small amounts at 6500 though just in case we see a reversal sooner. Very small amounts maybe 10-20percent of your expendable capital. Also lastly, also very important to make sure that whentrying to time the bounce that there's also oversold conditions on the RSi and MACD on most of the different time charts.
BITFINEX:BTCUSD
by DrDovetail
BTCUSD Continuing to stay inside Bearish Channel & above 200EMASince BTCs decline from its all time high in December you can see it hasn't gone outside of this downward channel (in green) and today so far seems to be no exception. Another extremely reliable line of support BTC has not dipped under and has in fact bounced off of several times in the last 6 years or so is the 200 day exponential moving average (blue line) on the day chart. I predict that once again it will stay above both the bottom line of the green channel and also above the 200EMA. Set your stop losses an position exits accordingly...if it falls under that line I will be exiting my position but may increase my position slightly above those lines with the anticipation that it will bounce upwards.
BITFINEX:BTCUSD
by DrDovetail
BTC Time to LOAD UP for 2018? BTC has had a massive run up to December. BTC entered overbought conditions on all time frames which do not make it attractive to trader and investors. Nobody want to buy overbought stock. BTC has had a nice pullback and is currently testing its 100 day MA and its uptrend line. We see btc go as low as 8500 here but we are looking for a close above the 100day MA. If this happens this is a good indicator that we will use this as support and the trend will continue with a nice slow growth into 2018. Indicators Daily RSI looks Good 4 hour RSI oversold 100 Day moving average support Currently Testing its uptrend line This in my opinion is a good time to load up on btc for 2018.
Long
by gillman_hugh
2
$V continuation pattern breakouthigher time is in strong uptrend and showing strength intermediate time frame also in uptrend and rising moving averages with the shorter time moving average slightly flattening showing consolidation with price trading around it price is seen here forming a resistance at the 96.16-96.17 area with the three price rejection candles forming a ascending triangle possibly looking for more retests of the resistance and higher lows to show buyers conviction this is mostly a monitoring situation not a play yet on the lower time frame- it is showing a bullish rectangle pattern- longer it stays in the range more energy will be built for the possible breakout move just have to watch what price does in the upcoming couple days measured move is a .33 move if broken out of resistance which will bring price to 96.50 area and extension level .618 at the 97.1x area
NYSE:V
by inco1
KO looking for pullback before breakoutlong term trend is in a strong uptrend intermediate time frame is showing long term moving average rising with the medium term flattening looks like a shallow pullback with strong support confluences at the .236 retracement level and volume by price and dynamic support volatility is contracted and congested at said area looking for an advance upward rsi pulling back to support in 50 area with positive volume pressure looking for entry in this area..will not enter if goes below 45.27 area
NYSE:KOLong
by inco1