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Two-level head and shoulders indicates strongly bullish signalI remain bullish on RUNE (THORChain) both fundamentally and technically. Look at that nice two-story head and shoulders on $RUNEBTC. Assuming that BTC holds around 50k per coin, the upcoming THORChain movement may result in 20-40$ per 1 Rune in this summer or even late spring. In general, RUNE is extremely technical in terms of price movements and reactions. It is a pleasure to watch her follow all trend lines and levels.
Long
by tirinox
LINK Breaking WedgeLINK/USDT rallied recently in an attempt to break the wedge pattern it created and is currently trading along the lower trend line of the ascending channel indicated by the green lines. All of the EMA are reading lose together, telling us that price is trading right where it should be. When the EMA travel so close together for so long, it usually (but not always) prompts a price propulsion. This could be the start of a trend reversal. Support is displayed by the blue line at $9.80 - we may never see LINK for that price again. We can expect to see LINK trading within that ascending channel again soon and even beyond that this year. I will start DCA into LINK now as well as day trade the pair. Due to extreme volatility, I am not announcing buy or sell targets at this time, however they may be posted to this idea later. We can anticipate AT LEAST a 100% price jump by the end of 2020. Comment if you have any questions about this idea or my Technical Analysis in general.
Long
by DeadlyCrypto1
Ascending Channel on LINK Will Soon Hit Resistance!A very important moment is coming up for LINK. We can clearly see the oscillating price behavior over its recent upwards trending price. Even though there is a high variation in price, we can still see that on average the price is moving up steadily over time. The question is, what will happen when the bullish trend will finally meet the important $14 resistance? If the price can break through, I expect a very bullish continuation. Perhaps all the way until $20 again from the previous all-time-high. We already know that the price is capable of reaching such highs, and there is at least a 38% gap to get there still. I would argue it's unlikely that we have already seen the maximum price LINK is ever going to reach given that it's a project still so early in development. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
COINBASE:LINKUSDLong
by Trading-Guru
13
BTC Weekly Outlook (FA&TA)“You are a child of the Universe, no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the Universe is unfolding as it should”. ---- Max Ehrmann First of all, from an actuarial background (as conservative as it goes in finance), I’ve never thought one day I would be giving a bullish bias on such a strong resistance, hinting a potential breakout. Well, but here it goes. It’s rare for the market to have a prolonged short bias, which (by probability) is much a better signal to reply upon compared to long biases. Furthermore, we broke the triangle, and the twitter news, and the on-chain pickups, and some Chinese information channels we have… So, even with a $300 gap, and bearish divergences that yell a correction in the short-term, I’m going to call bullish here. At times, the short-term gain/loss becomes less significant compared to the mid to long-term potentials (by short-term, I mean within 7 days since that’s how often we publish). Also, I would highly appreciate it if you can give us some feedbacks below, regarding which portion you would like to see more analysis on, or any parts you have questions on. Key Fundamentals: 1. Smart money action: Similar to last week, the on-chain smart money indicator is recently giving out accumulation signals. This indicates smart money has been accumulating during the past few weeks despite the price drop from 12k, and further indicates a strong support at 10k. This is a bullish sign for Q4. Price generally goes into a bullish trend when on-chain smart money accumulation is found. Can we drop in the short-term at all? If so, does that mean smart money made a dumb decision? Yes, then no. In Nov 2018, smart money accumulation is spotted at 6k, and price dropped to 3k in the next 2 months with more accumulation happening. While the BTC accumulated at 6k took an almost 50% loss, price soon rose to 12k+, generating a 2x. Grayscale: raised $900M in Q2 (its ATH quarter since inception). Even though $900M is not significant when compared to the mkt cap, it does indicate a switch in accredited/institutional investors’ view on the crypto space – where the money comes from to push the next ATH. We’ll keep an eye out for Q3 stats, which hasn’t been released yet. Aside from the Twitter (Square) $50M BTC purchase, Chinese smart money is also on the move. 2. Miner action: BTC mining difficulty is now 10x higher than that of end of 2017. This means, firstly, the security of the bitcoin network is improving significantly despite the price decrease compared to the 2017 20k ATH. Secondly, miners are profiting ever since the March capitulation, and more miners are joining the game at the current price level (the 11%+ difficulty adjustment was made in September). 3. Market Sentiment: Overall market sentiment remains neutral. For the seller group sentiment, this group is still in a bull trend. As mentioned, 10.5k was hit in the past week, but the “decr. in supply” alert didn’t show up. With the current development, I wouldn’t wait for the alert for bull entry. 4. Margin & Futures Market Actions: Daily chart speaking, the margin market has been on the bearish side since the drop to 10k. Even though mentioned often, I’ve never quite covered the significance of this situation. With longing being a much easier strategy compared to shorting, it’s much harder for the market to have a bearish sentiment compared to a bullish one (left alone the constant interest rate component). In other words, prolonged retail bullish sentiment may not turn into a bearish price action and the price may go up higher with the sentiment being more over-heated. However, prolonged retail bearish sentiment often turns into bullish price actions. We are still net bearish, which means more upward momentum. See the resemblance with early May 2019? If you don’t, you should investigate. Also, believe it or not, at the current moment, BTC is overly bearish. Yes, after an 8%+ rise in the past 72 hours. 5. Global Market Impacts: Let’s be clear. If the stock market drops 10%+, BTC will go down. For most investors, the hedge for low yield environment or political uncertainty is still gold over crypto. And even though BTC may recover quicker compared to stock indexes, the initial reaction is still likely correlated at this point. So, the question becomes, “will stock indexes drop significantly in the presence of US presidential election, potential prolonged low interest rate environment due to COVID, and the heightened tensions with China?” I do think the two main factors to watch out for are the further US fiscal stimulus and the earnings season. 6. CME Gap: Yes, there’s a $300 CME gap below us. However, given other bullish considerations, I’m not going to bet this gap closed in the coming week. Key Technicals: 1. Similar as last week, short-term resistance at 11.9k. Support now at 11.2-11.3k (past resistance). SL for long could be set around 11k. 2. Elliot wave: see chart above. 3. RSI bullish: Daily RSI looks bullish. Bull trend support (40) held, and we are finding support above RSI’s MAs. MA up-crossed. If we do drop in price, there’s a strong support at MA & RSI trendline. 4. MACD neutral: Bearish for the short-term. Bullish for the mid to long term. Do you agree or disagree? All thoughts and critics are welcomed! ============================================= 🌐 We believe in the power of blockchain data analysis! ==============================================
COINBASE:BTCUSDLong
by Phi-Deltalytics
48
LINK.BTC (Y20.P4.E2).Fractal and compound strategyHi All, It is times like this (things are bullish), I search for opportunities. That 5% here and there can be compounded to make much more gains down the track. I tend to use the total BTC equivalent as a measure to how I'm trading, especially in an uptrend. Down trend, I tend to look at the USD value to ensure I'm limiting my losses. Anyway, here is one of those opportunities I have already acted upon. Late last night, I flipped 1/2 of my LINK to BTC as I saw bearish signs at the micro level. I will use the same BTC to buy back when I feel the time is right. Hence I will have more LINK and based on this chart, more BTC equivalent. As for the 4 hrly chart, we can observe the following: > the indicators support the fractal, from the 21\34 ema, fib level and formation\structure; > the macd fractal will confirm it, and using the KDJ, will get an earlier signal as the MACD is lagging more so; Link structure overview: Parabolic structure in tact and using fibs, target levels are clear Close up view Daily chart, candle sticks are weaker so far in this fractal area Please give me a like or tick for this post Regards, S.Sari
Long
by ssari
1
LINK.USDT (Y20.P3.E5.v2).Rare Gems.No.1.not there yet** This is a continuation from the previous post, link provided below ** As you can see based on the non log chart, it makes it easier to understand price action here. The trend line is key to this and must hold which its doing, however as per chart, wave 3 to 4 is a complex wave and hence is designed to strip your profits, like we did with 9k to 10.5k with BTC. Hence I'm staying away from further action, I bought in and now wait it out. OBSERVATIONS: ================================== > fib. levels are aligned with price actions support and resistance levels > similar KDJ pattern to the previous wave 1 to 2 and hence will use this as a guide > many levels to break on the upside what looks like a ascending triangle > the ABC correction is complete however gaining momentum will be slow > the trend is good MY THOUGHTS: ================================== I already hold LINK as I bought some at the $12 to $13 dollar mark. I want to buy more but I rather look for charts that are or have moved significantly. Once these coins slow down, eg BTC or ETH, I'll redirect some of the funds to LINK, if LINK is ready. NOTE: BTC dominance is about to have another bounce as it approaches a key level. My guess would be it does another break to the upside (breaking 12k) to reach 12.5k or more. Won't be long so this might explain the ascending triangle taking place for LINK. The DAILY gives a good account to what's going on, from a bullish perspective. I see it bullish based on the indicators as well. What are your thoughts? Please give me a like or tick for this post Regards, S. Sari PREVIOUS POST related to this continuation:
Long
by ssari
3
CHAINLINK 🟩🟨🟥 Marines + China + Blockchain. Need we say more?💬Chainklink ($LINK) has had some bullish news recently as word spread that China’s Blockchain Service Network (BSN) integrating Chainlink’s oracle service. Despite the bullish news, LINK also just recently hit resistance and moved lower as the broader market dropped today. Let's take a look at some levels for LINK to get a sense of how the current correction might play out. Hit that button to show support for the content! Help the community grow by giving us a follow ----- Support: S1: The S1 orderblock formed from price inefficiency on the way to the previous all-time high is the first support for the LINK Marines to hold. A reaction here and then a retest of R1 is a likely scenario. S2: The S2 S/R flip and orderblock cluster is a logical level to hold if S1 can't. There is some solid support here and we expect to see a major reaction if this level is tested. S3: The S3 orderblock is the last hope for the bulls. While ideally this isn't tested, a move lower breaks the uptrend, and S1 - S3 failing show weakness. The Marines need to defend this level, but bulls generally need to be cautious here. Resistance: R1: The R1 all-time high is the most logical point of resistance. This was the level LINK just got rejected at, and it will almost certainly come into play again. What the bulls want, and what the bears don't want to see, is a breach of R1 with support found on it from above. ----- Summary: There is nothing wrong with a corrective move in a bull run, healthy corrections are not just normal, they are necessary. No better time to pull back than when the whole market does. With that said, the LINK Marines now need to defend support while ensuring they ultimately move past the All-time high and find support on R1 before heading higher. Resources: cointelegraph.com
by AlphaBotSystem
3