VeChain hammered through Target 2, 17% in the kitty

What's better than catching the bottom exactly and making a phenomenal run?

https://www.tradingview.com/x/s0221fZr/

Bitcoin update on Monday, February 3rd, 2020 :

Looking at my previous bias, although the last spike to the $9600 region has occured with a huge rejection, I still believe that the price will have 1 more spike to the upside because the MACD represents the alignment with the bias I've mentioned before. There must be 1 more wave to the upside to touch at least $9700 region. More details analysis will be covered tonight so don't miss out!

Chart Link

$BNB / $BTC

As expected, no major move due to scambags from IEO shill.

https://www.tradingview.com/x/bzAwhTBB/

Bitcoin : Bullish sentiment short term

Hello fellas, welcome back to the technical analysis of bitcoin here. Let's get it started.

We've seen a huge rejection of almost 3% from the peak of February 3rd candle which produce a type of shooting star with a wick to the down side. And because the 4 hours candle has closed with this type of candle, a lot of trader has predicted the potential bearish bias as a reversal pattern for bitcoin. But, for me I don't think that the reversal will occur in the near future, and here I acknowledge you my arguments for it.

1. We haven't seen any type of bullish divergence on RSI yet. The RSI still forming a higher high structure until now.
2. The MACD histogram on 4 hours chart is still ticking down in the negative side and I haven't seen any sign of lower high on the histogram just yet.
3. If we assume this as the ending diagonal of wave C with an expanding pattern, the 5th wave must be over extended and is likely to touch the upper line of this diagonal.
4. The upper line of the diagonal wave is having a confluence with the 1.618 fibonacci extention. From this, I classify e the green area as the potential liquidation zone for the short.

Because we see these confluence reasons for the bitcoin, I expect the price to have a spike up 1 more time before the huge downside move. Good luck

Chart

Bitcoin might dump hard

If you have stuck on our channel for long enough, you will know that the only thing we trust more than my own custom indicator, it is the 18 EMA. Price cross and doom.

Well the Cup and Handle played out well with a nice pump but the massive Open Interest is over $1.03 billion dollars which is like a smshing river on the dam. Once this damn breaks, the blood will be all over.

https://www.tradingview.com/x/XHljqKC9/

Bang on! Target 3 hit.

https://www.tradingview.com/x/XZz0QzP1/

Love us or hate us, you gotta agree that we never fail to deliver when it matters.

https://www.tradingview.com/x/1Flmsse2/

🎓#TradeUpdate 🎓
🎓 $MTL / BTC - View Chart

🔸Signal Info: Metal
Rank: #159
Exchange: Binance (Trade)
Direction: LONG

🔸Status: Smashing 1st target achieved on MTL. The price reached a high of 4000sats or +60% profit, and it has now come to rest just above our profit target. The 0.618 fib turned out to be the perfect marker.

🎯+40% profit in the bank!

🔸Current Price: 2860sats
❇️Entry: 2520sats
🎯Take Profit: 3555sats, 4650sats, 5565sats
⤴️Stop Limit: 3345sats (+32%)

Update on some open positions:

$ONT - BTC +20% (x5)
$SNM -BTC +7%
$XMR -BTC +6.4%
$RLC -BTC +32%
$DATA - BTC +11.5%
$EOS - BTC +10.5%
$MTL - BTC +57%

❇️ Total open profit: +224.4%

The picture that you see below is known as the Double-Top Chart Pattern.

Many chartists and technical analysts over the years have observed that, when the price forms this pattern, it typically tends to lead in a precipitous decrease (i.e., this is a bearish reversal chart pattern).

For the one that I showed above, in specific, it has been observed that when the price breaks below the point identified with a green circle in the picture

The pattern has been ‘completed’. Based on chart strategy, it would be advisable for traders to take out a short/put on anything that has exhibited price action moving in such a pattern that has reached that point in its formation.

As the famous trader, Thomas Bulkowski, noted when he performed an elaborate study of chart patterns — they predicted price action does not always come to fruition.

Thomas Bulkowski by looking through decades of price data for the United States’ stock markets and observing every instance of when a chart pattern would occur as per his predefined criteria for what qualified as a certain chart pattern.

He then studied the subsequent price action after the chart pattern was identified and noticed that there was no guarantee that the said pattern would manifest itself correctly.

That same principle applies today.

In general, I’d agree with that estimate. However, it is worth noting that these estimates were not made with cryptocurrency in mind.

From my experience as a trader, I’ve found that Double-Top/Double-Bottom Patterns are more or less hit or miss (50/50), in terms of them actually being completed.
———————————————————--
Chart Patterns Do Not Last Forever

One common mistake that I’ve seen many crypto traders make is assuming that a chart pattern will remain valid forever or that it signals a major reversal in the entire market.

For example, some individuals have asked me:
“Bobayaga, do you feel as though the Double-Top that we observed on Bitcoin following the second test of $11.8k means we will go to $3–4k?”


Every time I was asked this question, I always responded with a resounding ‘no’.
This is because, there are ‘rules’ to every chart pattern.
For the Double-Top, for the instance, the distance between the ‘top’ and the ‘neckline’, in terms of price, gives a target of where we can expect the price to end up at.

——————————————————————————
Chart Patterns Must First COMPLETE Before They Can Be Declared So

I’ve seen a lot of cryptotraders also claim “Oh this is a cup and handle!” before the handle has formed.

Make sure that the pattern itself has actually completed before making any definitive statements about what is or isn’t in a certain pattern formation.

For more : @CrytoTraderLibrary

🎓#SpotTrade 🎓
🎓 $ZRX / BTC - View Chart

🔸Signal Info: 0x
Rank: #41
Exchange: Binance (Trade)
Direction: LONG

🔸Analysis: Not often that a pitchfork gets laid flat, but this time it seemed to work out pretty well. Price is fairly channel bound after the ~175% run late last year. The price broke out of the wedge formation yesterday, and the action on BTC right now has made it retrace completely. Looks good for an entry here.

🔸Current Price: 2569sats
❇️Entry: 2540sats
🎯Take Profit: 3477sats, 4245sats, Open
♦️Stop Limit: 2436sats (-4%)

📊Re-entry level: 2313sats

🎓#MarketUpdate 🎓
🎓 $WRX / BTC - View Chart

💹 Trading on the new Binance Launchpad project is live. Nice and volatile in these early days of price discovery.

🔸Exchange: Binance (Trade)

Ripple : F*CK the majority bias

Hello All, I want to do a very detail analysis on Ripple / USD based on the bitfinex chart. Let's do this real quick!

I saw a lot of crypto analysts has predict that the bottom for XRP is in now and it will enters the bullish market. But, I don't think I can agree with the majority analysis about XRP. I have my confluence reasons and my own view about this market. I may be wrong but I don't care as long as it's still align with my strategy here.

XRP, I draw 2 important line to connect the price which is the green support trend line and the white resistance trend line. The most crucial line is the green one, we have seen that the price has already broken down of this green resistance trend line. The second crucial area is the gray zone which is the previous broken support that is now become a resistance, I'm pretty sure that this action could be the phase 2 of break out strategy which is retesting previous broken support. Beside, this area is having a confluence with the 38.2 fib retracement as a major support.

So, after all saying, we are still far away from bull market and I still see a possibility for Ripple to touch the yellow support level which is the $0.16 region as potentially become this year's low. If I see rejection when the price touches the gray area, I will enter a short position as well.

https://www.tradingview.com/x/S1RNCGha/

$BSV / $USD

Satoshi Vision has proved to be a shill bag coin soon after Craig White introduced it. No News = No Pump.
Simple as it gets. Here we see a rising wedge that could possible breakdown 18% from its current value. Trade smart.

https://www.tradingview.com/x/vPAUTArN/

Bitmex OI

https://www.tradingview.com/x/fE5gfOOx

Open Interest in Bitmex for Bitcoin has entered the $1 Billion. This is way very interesting. Based on the past performance, every time the OI touched the $1 Billion area, it always had a significant correction.

Bitcoin : Bullish momentum is diminishing

Hello All, here I show you the details about bitcoin. Let's get started!

We have seen a huge push to the upside for the price and it's now entering the huge area of resistance too. In this chart work, I will give a highlight especially on the oscillator indicator that usually has a very important roles on my trading strategy.

Based on the RSI, we've seen a sign of bearish divergence as an indication for reversal pattern. The RSI has entered the overbought region and it has a significantly lower high on RSI but higher high on the price action.

And on the MACD, I see a potential of death cross on the MA line as the histogram is starting losing some strength with ticking down comparing the previous histogram. And if we see deeper to compare with the previous top of the histogram cycle, the histogram is having a lower high too.

The alignment between MACD and the RSI makes me believe that bitcoin will have a correction in near future. That's why I'm targeting the blue region below as a support for possible touch if this bias hold true. And although my bias is the correction is imminent, I haven't shorted the market yet. It simply because I've seen a very thick sell order around $9900 on the bitfinex. And considering there is potentially very volatile movement when the price touches that area, I'll wait for the consolidation pattern to be formed in lower time frame such as 1 hour and 2 hours time frame to enter short position.

https://www.tradingview.com/x/kTiQ5Qj3/

Apologies for the reduction in content today. I'm a little busy working on a script and strategy that would put all the "part-time" traders on the driving seat.

Will put out a few charts in a couple of hours.

#TradeUpdate
$BSV came crashing down like a ton of bricks.
Fair 4.8% on spot and over 45% on 10X.

That's my boy!
Lock in 30% of the profits here and move stop loss to $310

https://www.tradingview.com/x/s99NFYs5/

$LTC / $USD

Often termed as the market leader, Litecoin has seen beautiful days in the previous week and has rose gardens in the near future. Cup and Handle played out fabulously adding over ten dollars from the breakout price. Going by the traditional rules, the target is set at the height equal to that of the cup.
It is important to note that the Fib and psychological $80 mark might offer some resistance. Nevertheless we will be moving higher on this one.

https://www.tradingview.com/x/iKwdENHL/

🎓#TradeUpdate 🎓
🎓 $ONT / BTC - View Chart

🔸Signal Info: Ontology
Rank: #27
Exchange: Binance
Direction: LONG
🚩 Margin: x5

🔸Status: Ontology has performed well for us so far. It has been grappling with the resistance level set out by the previous wave down, but it has beaten the high from that zone just to the left on the chart.

That resistance could well have been flipped by now. Bitcoin fell off a fair deal over night and I'm seeing that many Altcoins are testing and establishing support for the next moves. It appears that ONT has held and rebounded, but Its about time we tighten the stop and reduce the risk to profitable number. Raising the stop trigger to just bellow the local action.

❇️Position is up 75% (+15% x5 🚩)

🔸Current Price: 8710sats
❇️Entry: 7550sats
🎯Targets: 9780sats, 11500sats, 15300sats
⤴️Exit: In profit - 8090sats