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Information is really important, a potential double top was mentioned in this post to signal a possible shorting of $ETH. Anyone who took the chance and placed short orders there should be sitting pretty much on about +30% profit 🔥 at 10x Leverage.

Market Update: BTC - 1W, 4H & 1D

Let's quickly dive into our technical analysis for $BTC. Let's see how price has developed since our last update. It's been a week since our last BTC analysis and all our forecasts have come to fruition.

Starting with the weekly TF, we explained over a week ago why the attempt to move above $4400 - $4500 on the Bitfinex exchange was important for bulls and why we could see so many attempts to push up after every little drop. As we said, it was because if that doesn't happen then the fall to lower prices continue. That was the chance bulls had to push higher and make a bullish stand.

Supports and resistance areas are some sort of magnetic zones. Usually in trading, anytime price breaks a support or resistance level, price tries to test that area again. We can see this throughout the charts, especially if the zone is a very important one such as the $4200 - $4300 on the Bitfinex exchange. When price was falling from $5000, it made a pause at this level before breaking it, after that it tested it as resistance and got rejected, then went to $3200 level and came back to test it as resistance again and we see another rejection.

Also note that this is where the 200 EMA is currently positioned. Breaking above here may really end the bear market in all honesty but the sell-off is not complete and looking at the fall from $7000 price level, we're not even halfway up from that fall. When you look at the big picture you realize how bearish the whole situation is. Did you know that we actually needed over 100% gain to make it back to $7000? We gained just 35% and now we've even fallen from there.

So the weekly chart is giving us the same picture. Rejection from the falling wedge we broke below, the $4200 - $4300 price level, the 23.6% Fib line, and the 200 EMA. There is a very high possibility of falling to mid $2000 then bouncing to test $3200 - $3500 price level and continue even lower to $2000 and the late $1000.

So what if the smaller TFs suggests we'll be moving higher instead. Let's take a look at the 4H TF to have more clarity.

We are going to look at 2 charts for the 4H TF. What is happening and what it means in the near term. Then what that can lead to which correlates with our weekly price prediction.

On our last analysis we spoke of how bears retraced to the 50% Fib line which was crucial. However, they didn't succeed in pushing price finally below the 61.8% Fib line which was the last stand. A move below there would have accelerated price drop. This is because psychologically, most traders have heavy orders on both longs and shorts at the 61.8% Fib line of the Fib tool. Take your time to go through charts from others and you'll notice how 0.618 is often mentioned. 50% Fib line is half retracement of the previous move but 61.8% Fib line is more than half which suggests that the previous move wasn't successful.

It wasn't surprising to see this reaction from bulls as price got there. In recent times the talk has been about the inverse head and shoulders pattern we spoke about, $3600 support and the 61.8% Fib line. Add that to how bulls don't want to lose this level else we'll have new lows and you should expect some sort of reaction. We took advantage of this and scalped long when price got to $3600 but the pump was even beyond what we expect which was highest being $3700 but price reached $3900 - $3940.

However, even though profit was made from that long call our recent short from $3850 had extra entry at $3940 and it's interesting to see that $3940 has been very strong resistance level. That brings us to recent price action.

The first 4H chart shows some volatility as price took off from $3600. After testing $3940 price got rejected and pushed below $3815. After this we can now notice we have have a last support trendline from $3130 which has now helped form a symmetrical triangle. It's very important to note that yesterday's price action and shortly after daily close.

Market Update: BTC - We're In A Downtrend ($1000 Is Possible)

If you were here with us before we went below $6000 on November 14th, you'd notice we made some pretty accurate forecasts of how Bitcoin was going to move until we broke below $6000. We were expecting $10,000 when the Bitcoin Cash hard fork and wars helped in plummeting price. After moving below $4000, coming up to test $4400 and going lower, we turned bearish because indicators weren't in favor of bulls.

We've had some upward move from $3130 but bulls are not out of the woods yet. Going as low as $1000 is very possible. One thing that needs to be realized is that not everyone that has Bitcoin is actively trading. Some are still in over 1500% if they bought Bitcoin at $200. We don't count such idle Bitcoin holders as volume. But they can become volume when they start trading their Bitcoin.

As we fell below $6000 and got to $4000, many who bought at $2000 - $3000 sold their holdings. We've had some high volatility and volume appreciation after the fall.

Just wanted to lay this down before a follow up technical analysis touching on why things are still bearish. We have to remember we're still in a downtrend from $20,000. Humans like safety and hate losing, hence sell-offs seem to be stronger than buy-ups. This is simply because everyone is almost a trader now. Buy and sell. And now with leveraged trading everyone can short.

Weak fundamental elements won't have positive parabolic effect on price. And so far pre-news suggests we may not be getting any good news in 1st quarter of next year. Institutional investors are not waiting for ETF or Bakkt launch to buy Bitcoin. They already are longing and shorting it. They buy in huge sums through Over The Counter (OTC). ETF and Bakkt will only allow them to "legally" trade on exchanges without any implications.

So according to technical analysis and the fact that some holders are not trading, we could very well breach into the $1000 zone for $BTC

✅ ETH from $146 to $132 - +92% 🔥 profit at 10x Leverage

✅ TRXZ18 from 0.00000521 to 0.00000500 - +40% 🔥 profit at 10x Leverage

Trading ideas are great. Sometimes all you need is information and you can make some trading decisions on your own

Market Update: BTC - 1W, 1D & 4H - Everything On Course

So after $BTC tried to make another attempt to the upside, it got stopped again in its tracks as was reported and we've had a -12% decline since then. Let's look at the charts.

Starting with the weekly, we made it very clear that this sudden bounce from $3130 up to $4000 was a very bad idea, it only extends and deepens the rate at which price will be falling. It took 4 days to gain 12% and sustain it and less than 2 days to wipe off those gains. This indicates we're still in a downtrend. Going by the euphoria because price is rising is a very bad idea.

We look at the weekly charts on Bitfinex and our previous analysis and forecast still stands. We expected bears to hold price beneath the falling wedge and 200 EMA. Price got rejected on all attempts to rise above these two strong resistance areas to no avail. Also price is currently trading below the 23.6% Fib line. It's important to note that closing above this Fib line was needed to have a bullish continuation. However, the week has just started and bulls may decide to push back but this will be very difficult because lower TFs have some bearish setups that makes climbing and closing above the Fib line far fetched.

Now the daily chart (2nd chart image). In our recent $XBT analysis, we mentioned the key area of $3940 which is the 23.6% Fib retracement line and said it's crucial for bulls to defend this price level. However, we noted the bearish divergence of price and RSI on the 4H TF which put bears in a position to push price down. We've broken the $3940 price level with ease and have had more than two 4H candle closes below it. This indicates this level may not be tested again, at least it's not looking like it on the 4H but probably bulls will make an attempt before daily close. Failure to break above this price level will resume downward movement. Any rejection from there will be a good chance to short if you missed $4200.

One point of interest on the 1D TF is the potential Head & Shoulders (H&S) pattern that looks to be in play. The left and shoulder and head are completely formed with the neckline around $4200 (gladly we shorted exactly at $4200). Chances of this pattern playing out is realistic. At this moment only way to find out is after price reaches around $3600. If we get invalidation at that point then our original idea of seeing new lows becomes even more real. Another indicator that may support the H&S pattern playing out is the RSI, it's probable price may bounce off the support just about when $3600 is reached. If however that price point is reached too early before the RSI, then it's highly likely the pattern will be invalidated.

Last we have the 4H TF. This particular time frame reveals a lot on what's going on and we'll try to go into detail on what possibilities there are depending on the current situation.

First off using the Fib retracement tool, we took the very low of $3122 and the recent high of $4242 to see to see how far price is going to retrace down and possible support zones to look out for. Support zones of $3980, $3940 (which is the support zone discussed on the daily TF) and $3815 have been broken.

In Fib retracement, usually a retracement beyong 50% Fib line is a strong indication that the trend has changed again. We can refer to the bounce from $3122 as an uptrend and our recent drop as the retracement. Note that on a larger scale such as the weekly and daily, the bounce from $3122 is actually the retracement taking place.

So back to the 4H. After bouncing off the 23.6% Fib line, bulls couldn't stage a stronger move up and this is understood from the rising wedge we had. It broke down hours ago and that's what led price to fall beneath the 38.2% Fib line. Since below 50% Fib line is crucial and may indicate the possibility of not returning back up, it'll be expected for bulls to cause a bounce at this level and they may have the RSI to help with that as it's approaching a support line.

Market Update: ETH - 1D, 4H, 1H - Still Very Bearish

It's the 27th of December, 2018. We'll be entering into 2019 very soon and there are so many bearishness to look up to in that month. If you're not leveraged trading then this is the time to start getting involved and take advantage of downward moves.

Let's recap our last $ETH analysis. Everything outlined in the last analysis panned out. We noted the shooting star on the 3D TF and its volume. Even though the candle didn't close in red, it's very well a bearish candle and the volume even though in green is also very bearish. The simple reason is that price opened at $129 and pushed up to $157, then sell-off down past $129 opening to $121, then we closed just a little above $129. Clearly bears have had a bigger move here.

More importantly, we closed below the 50% Fib line which shows bulls have been weak in staging a true reversal. Another interesting thing mentioned is that $130 - $131 will be tested again and it'll be a shorting opportunity, after testing there price is now trading at $124. Lots of profit could have been made and also scalping between $123 and $130 which happened so many times as can be seen from the 1H TF.

Today we're mainly going to focus on the 4H and 1H TFs. But let's take a quick look the the 1D. As can be seen, within last 2 days, all candle closes have happened below the 50% Fib line. This shows bears are eager to turn price back down and probably visit new lows. As we mentioned previously, a move below $118 - $120 and close below there - which is the 61.8% Fib line will be very bearish and accelerate the fall of price.

For now the lower time frames show a ranging trading activity that should provide a last chance short opportunity at $130 - $132. We can see how the daily RSI has more room to dump to the ground. Caution must be taken in trying to long or buy without very clear reversal signs. We've rallied from $80 but we're still in a downtrend.

On the 4H TF we want to look at the retracement happening from the move up from $80. Price has retraced from $159 to almost $120. Which is just at the 50% Fib line. A move below the 50% Fib line and bulls would have failed to maintain that move up from $80. So are they going to succeed in defending the 50% Fib line? Well less likely.

The reason being that the 21 (red) & 50 (blue) MAs have a pattern that mostly turn out to send price down. After testing the 21 MA as support a couple of times after the bullish cross, (we have addressed these types of MA pattern), the candles have now been bearishly netted between the 21 & 50 MA. In such situations, the chances of a bearish cross is relatively high. Unless price suddenly pumps after testing the 50 MA also which seems less likely at the moment. However, there is more time before the cross happens ad the cross will happen after price moves below the 50 MA.

The current candle patterns and RSI don't allow a sudden and aggressive dump, price would need to range a bit more and mostly to test $130 - $132 price levels to push RSI a bit up and give the candles a strong bearish pattern before finally moving down. This is when it'll be the shorting opportunity spoken of. We will see this from the 1H TF.

So the 1H TF. We have symmetrical triangle(s) in place - Blue and Red. This is why I believe there is the possibility of moving up to the $130 - $132 areas before moving down finally. Unless of course $BTC starts to move down aggressively and $ETH follows.

The blue triangle is the immediate pattern to play out and the red is the next pattern if the blue triangle doesn't break. According to the triangles, the highest price can every go is $132, wicks excluded. The move down should be aggressive considering how long price has been ranging.

Looks like the bearish market is going to drag on for some time. Could be months. Once again, to not lose value, it's better to make use of both upward and downward moves and leveraged trading gives that advantage.

Stop Hunted

One of the unfortunates when it comes to trading is getting stop hunted out of a trade. It's one of the most painful things you can ever experience.

This is the issue we're facing right now. After profit upon profit in the last weeks and months, these past few days has been terrible in our client section. Gambling in trading is very dangerous hence we make sure any trade we go into has good technical analysis supporting our trading idea.

However, we've had the trouble of being stop hunted so many times within the last few days. This is frustrating as hitting stop loss means losing money.

Considering the current manipulation going on, the best strategy is to still rely on the analysis and find ways and means to outsmart the manipulators. One trick is using a very low leverage.