SLV - Weekly Chart BreakoutThe weekly chart for the iShares Silver ETF shows how it has been pulling back from its recent highs back in early September. The stock broke down in early November but was able to find support along the 50-day EMA line. It has managed to break out again this week as it nears volume levels that will not be able to hold much resistance against the price. Continued strength in price should help a Golden Cross occur to confirm the bullish strength behind this commodity.
I would like to see this ETF clear $17.10 just so it gets above and holds that last volume level but definitely looking promising. My potential price targets are noted.
50ma
WW - Good Support ConfluenceWeight Watchers has pulled back recently where it seems to have found support along a previous resistance level, the 50-day EMA line, & the VPVR heavy volume bars. The RSI indicator is above 50 & WW has shown some relative strength the last month or so.
I am focusing on the first two price targets noted on the chart. We'll see if it ends up having enough to get that third level. Assuming the bullish structure of this chart plays out, of course.
CFX - Breakout Within Ascending ChannelColfax Corporation has been trading within an ascending channel since early October. It briefly opened below the channel support line on December 3rd but found support along the 50-day EMA line to regain the channel.
An intermediary symmetrical triangle pattern was created from the November 1st top & we have just seen a bullish breakout of this symmetrical pattern. Potential price targets are noted on the chart.
SGMS - Cup & Handle Breakout ContinuationScientific Games created a bit of a cup since early March. The breakout from the cup pattern in early November has since created a bit of a handle in the form of a bullish wedge with prices breaking out of this pattern on December 6th. The stock price has bounced off the 50-day EMA as well.
$36.00 is my initial price target.
Potential Massive MovementOur Nov. 25th Inverted H&S took us to $7850 Before Forming a new top resistance line for a symmetrical Triangle.
Neither Wicks On Dec. 4th broke this Symmetrical formation and we've continued to bound up and down as Volume has tapered off.
A Measured Move Break Out Would Take Us North Of The 2019 High Descending Resistance line of our channel if the bulls take control.
A Bear Move Would Technically keep us within the channel but exhaustion at that point would more then likely lead to Sub-6k prices.
With the Symmetrical Triangle Almost being full and Dec. 9th marking the weekly golden cross, expect this move within 48 hours.
Relief rally first before whatever?Level to watch death cross happened. 50 Ma weekly might act as a defend level by bulls, if not for a reversal at least for a decent bounce to 8K. We may see another up to 500 usd dump before 8K (previous death cross), but so far 7K holds preety good, im thinking bcs of the 50 ema on weekly acting as a doom protector for now.
In 2018 we crashed from, 20K and bounced right from 50ma before more doom.
Might be the case this time, anyway lets see...
Bitcoin - In the next 24 to 48 hoursAs traders what we want to know is if we have hit the bottom or if we are going up, or are we going to fall some more. On the post I did on the 22nd I told you we were going to fall in a matter of hours and we did. Check this out, there are 3 keep spots we need to keep an eye on to see if we are going up or down. I know the answer but I would like to hear from some of you. The chart above shows you the new battleground. If BTC goes and closes below either of those support lines in green that will show weakness and it is time to go down some more soon. If for the last few months we've done nothing but lower lows and lower highs what should your trade strategy be?
This is the next thing to keep an eye on:
If the yellow trendline 50MA goes under the white trendline 200MA (Which is almost a done deal) then we are going down.
This is the last place to keep an eye on:
If we close a candle under the green trendline that means we are going down as well.
So the specific question is this: Would you put money in right now?
THE TREND: Going Down a little more
THE OUTLOOK: Safe to buy a percentage of BTC wait a bit more to buy-in.
Altcoin market attempting a simultaneous h&s/deathcross fakeoutLooking here on the total2 1day chart(which excludes bitcoin) we can see the altcoin market has recently had a deathcross and has been sending wicks down below the neckline of a sizeable h&s pattern...yet today the Altcoin market finally got a bounce....it appears maybe one of those situations where it's always darkest just before the dawn and that as long as the alts can close above the 1 day 50ma and hold it as solidified support that not only will we confirm the H&S to be a beartrap fakeout but the deathcross as well should then flip back over soon after into a true golden cross and hopefully finally kickstart the altcoin bullmarket. If we look back at what finally kickstarted the 2015-2017 bitcoin bullmarket we can see it too back then had a 1 day goldencross that soon after did a brief deathcross and it wasn't until that then flipped back into a goldencross that the bitcoin bull market finally began. I think we will see something very similar to that this time for the alts. So is the long awaited altseason finally right around the corner for Q4? very very possible...but only if they can maintain solidified support above the 1 day 50ma first. Baby steps altcoins...babysteps.
XRPUSD hits my exact breakout target.We are finding resistance at my exact breakout target for xrp. However, if we can flip the 1 day 50ma to solidified support then we should be able to eventually overcome this horizontal resistance...as we can see there is a 2nd horizontal resistance just above it though so it will not be easy...for this reason I'm leaving this idea neutral even though I am most definitely longterm bullish on xrp.
BCHUSD: Ascending Triangle With Daily Moving Averages Coiled UpAscending triangle drawn on 4hr chart (similar to LTCUSD as well as ETHUSD ) and applied to 1 day chart due to relevant moving average resistance above triangle to be cautious of. A move above $313.30 would create a new swing high while breaching the 50 & 200 Day MAs (that are trying to bear cross) making the trade a position worth risking. The measured move for the breakout is $346 (+10.5%) with a 2.3 ratio. BCH is still btrash though.
LTCUSD: Another Ascending Triangle on 4hr Like ETHUSDSimilar to ETH's ascending triangle that developed in past two weeks, Litecoin against USD on the 4hr is in a much cleaner bullish ascending triangle while facing resistance at the 200 MA. The 50&100 MAs have already had a bullish cross, oscillators are looking bullish. Will open a position above $73.25 (above previous swing high) with tight stop loss at $69 for a 2:1 ratio. Horizontal resistance levels around $79-82 with the measured target for the triangle breakout at $82, shown by the golden line.
LTC/USD first Bullish signs after halving, going for $250?Welcome fellow Tradingviewers,
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 usefull, dont forget to leave a Like!
We have taken a close look at the LTC/USD and LTC/BTC graph. We have seen huge gains in the beginning of this year due to the block halving that LTC went through. We caught some great moves including the trade all the way towards the $140 area.
Since then LTC has been having a hard time in BTC and USD value, we have made a 50% correction in USD terms and a 66% correction in BTC terms.
We have opened long positions on both of the pairs and secured a big bag for the long run. We have bought LTC at 65, 67.5 and yesterday at 69.75. The reason behind the trade is that we are now approaching and possibly bouncing from weekly 50MA , which is the moving average that has not been retested since the break above.
LTC/USD might also be making a big Cup and Handle pattern on the weekly graph. The Cup and Handle pattern is a very reliable pattern. Therefore we will add to our bag as soon as we see a breakout of this cup and handle.
LTC/BTC is also starting to show the first bullish signs after a 66% correction. We are currently trading around the weekly support level and we the last weekly candle has closed as a Hammer candle.
Hammer candles are usually located after a significant downtrend and indicate a trend reversal is near.
So overall LTC is looking very bullish, targets in USD terms for the short term are $100, $120 and $160 but we believe that there is a pretty high chance that we might extend all the way towards $250 . We will ofcourse update you guys on the way.
If you have any questions or comments please leave them below or send a message to @forallcrypto on instagram.
Safe trading to all of you!
Kind regards,
The Forallcrypto team
3daychart H&S pattern fakeout confirmed; must overcome 1day 50maVery positive sign here as we not only were able to crawl back inside the green symmetrical triangle pattern and prove the breakdown of that pattern to be a fakeout we also have managed to do the same with the big red ascending head and shoulders pattern before today's 1 day candle close; essentially confirming it's breakdown to have been a fakeout as well...patterns as massive as these 2 were can fake a lot of people out by closing multiple 1day candles below the trendlines...usually if you see this with no bearish momentum surge to go with it (and in this case bullish divergence was showing),then a fakeout is likely. In this case, it took about 6 1day candles from the time price action broke under the ascending red neckline of the h&s pattern to the time it climbed back above and confirmed the fakeout. The reason it was able to stay below the neckline so long without triggering the breakout is because the H&S pattern is actually most valid as a 3 day chart pattern instead of a 1 day chart pattern. The same appears to be true about the green symmetrical triangle pattern as well. Anyways currently we have just closed another 1 day candle just under the 1 day 50ma but more importantly above the ascending red neckline of the 3day head and shoulders pattern...We retested that neckline a few times before the close as well and was good to see it respond as solid support. As long as the red ascending trendline can maintain that support we should see price action flip the 1 day 50ma back to support as well. We also currently have a potential inverted h&s pattern that could be playing out here as well..if so we may see a slight pullback once we test the thin horizontal yellow line in order to complete a right shoulder...that is currently speculative but something to keep in mind.
XRPUSD still consolidating in a 1wk bullflag w/a target of .6368I think XRPUSD will continue to consolidate sideways for a week or 2 or 3 finding good support on the weekly 50ma...and once it nears the last 2 remaining potential top trendlines of the 1 month chart's giant descending triangle we've been in for almost 2 years(the dotted yellow line and the pink log chart line), once it nears those w will s it start to gain the momentum necessary to break out of the weekly bull flag and thus the giant descending triangle...hitting the bull flags breakout target of $.63684 cents first and then likely one of the descending triangle breakout targets depending which one is most valid.
Are we aiming to test the 50 MA? Trend Continuation ETH is currently pulling back into support which coincides with the 50 MA. The 50 MA has been acting brilliantly as support.
As further confluence we have a 61.8% fib retracement within this zone and good support. This is looking like a great entry for trend continuation.
BTCUSD pullback.BOTTOM IS IN
BTC/USD need a pullback to cool off after a nice rally from 4000$ to 7500$. The reason why BTC was pumped hard is simple,traders all time shorted BTC and the whales liquidated this positions. BTC/USD now just hitted the first long term 0.236 fib resistance line which is at 7104$ and also the candle closed below this resistance line(bearish sign)+we have a huugeee strong ichimoku resistance in this weekly chart
RSI is still overbought because is above 70 point
at MACD just crossed the neutral zone which is a really nice buy signal BUT don't forget another indicators :-) .Stochastic also is overbought.
I'm expecting a pullback till 50MA weekly. We have too much support line for a breakdown below 3000$