Yesterday we discussed major resistance at $12,950. Bitcoin needed to decisively penetrate this zone in order to continue its bullish momentum. Bears were having none of it as price was rejected, falling as low as $11,550 before finding support.
The daily chart shows the bulls are putting up a fight, defending the 8 day EMA.
In today’s video we discuss where price may go from here, traps to avoid, key areas to watch and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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Recognizing that my previous count, bullish, has been recently invalidated…
Does not look to be an alternative bullish count right now, the correction is not finished and what I see fro the moment is a possible 3-3-5 FLAT Correction.
Hope I am wrong, but if not, 9400 USD should be the stronger support…
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
It is clear that 13000 USD is a very strong resistance level. BITCOIN is now correcting after touching that value in the past few hours.
However, I am still confident of considering 14500 USD as a realistic target as planned 6 days ago in this post .
Also because I think this correction is forming the 4th wave of the Violet 5-waves count, so, still a 5th is missing.
This correction may “enrolled” further buyers who felt that they were late a few hours ago and I believe it should push again the price upwards…If so, a new Year’s High will come and the current resistance at 13000 USD will become our newer support.
The only thing I hope is that the new wave up will come mainly from “Fresh” FIAT and not mainly from the altcoins which are really being devastated by the Crypto King, including STEEM of course.
@toofasteddie
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Shares of Nio Inc. soared in active trading Tuesday as the China-based electric car maker sped toward its biggest six-day rally since going public.
The stock NIO, +5.73% shot up 6.2% in afternoon trading toward a sixth-straight gain, and the highest close since May 28. Volume swelled to over 76.8 million shares, enough to make the stock the most actively traded on major U.S. exchanges, and nearly double the full-day average of 38.8 million shares.
The stock has now rocketed 45.5% during its win streak, which would be the biggest six-day gain since Nio went public on Sept. 12, 2018.
Nio is the newest Tesla competition and manufactures and markets electric vehicles in China. Nio already has a vehicle in production and has delivered such models as the EP9, EVE, and ES8 to the market.
However, due to uncertainty around China’s economy, the status of a government subsidy for buyers of electric vehicles and delays in building their own factory, the stock price has declined in recent months. Most recently, in May 2019, China posted the worst ever sales decline and it marked the 11th-consecutive monthly decline in car sales…thanks to the US-China trade war.
Thus, Nio isn’t a buy yet fundamentally and from a technical standpoint, the chart suggests the buyers must take out the sellers at the weekly supply at before considering Nio a buy.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
In Elliott Wave terms, Fantom began a wave one advance on June 26. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 3, and the red wave two (blue sub-waves a-b-c) correction ended on July 8. If this wave count is correct, Fantom should be heading next towards the July 3 peak in the red wave three.
The pound slumped to a two-year low as signs of economic downturn mounted in a market increasingly betting that policy makers will have to cut borrowing costs.
The currency reached its weakest level since April 2017 as disappointing retail sales and suggestions that the U.K. economy could be set for its worst quarter since 2012 sapped sentiment. The bleak economic outlook is adding to risk factors for sterling, with money markets pricing in a rate cut by the Bank of England next year.
The pound has fallen about 2% since Prime Minister Theresa May indicated that she would be stepping down
ZIL seen from the temporality of 1D we can see how the structure of candles is in important zone of demand, the price has formed an LH so we can draw a diagonal trend between the previous minimum and the current as I have done in the chart above.
ZIL seen from the temporality of 4H we can observe more closely the movement of the price, we have a very bullish setup, we see that the price has made a pullback with which it has recovered the support located at 0.01617, has not yet tested the support, but this seems to be a good sign of a larger bullish movement, because although it has not tested the support is consolidating very well in the ITZ located at 0.01651, it seems that the price is ready to test the resistance located in the 0.01782 and look for the break to the rise of the setup, of obtaining it in the next hours possibly the price will arrive at our objective indicated in the image inside a blue rectangle that is located within the range of the price of the 0.02083 – 0.02143, this is an important zone to take profits before a retrocession.
In conclusion, the price has formed an inverted SHS setup, the most bullish setup, we have bullish divergence in the current formation, we should have a strong upward movement very soon, ZIL is in good time to buy, I recommend paying attention to the next candles in H1, the price could fall back to test the support at 0.01617 but should not fall below the horizontal or diagonal trend as such movement would invalidate the setup.
As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.
Trading can be difficult, especially in the volatile cryptocurrency market. Very few people can honestly claim to make consistent profits day trading. Like any skill, becoming a successful trader requires countless hours of studying and practice. Most people gain experience by trading with real money. This almost always results in a loss, at least initially. THERE IS A BETTER WAY!
Paper trading is a risk free way to learn how to trade, test new strategies or just sharpen your skills. All without actually risking capital. This video will show you how to freely use the paper trading function on Tradingview. I hope you find it helpful!
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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As discussed in my last video, bitcoin did slightly correct down to about $12,100 before finding support. It’s now trading around $12,500. Daily volume is climbing.
Looking at the daily chart, we can see price approaching a critical zone around $12,950. We’re seeing clear visual resistance as well as the top daily Bollinger bands converging at that area.
In today’s video we discuss where price may go from here, key areas to watch, my Elliot wave count (per your request) and so much more. I’ll also answer some your questions. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
If you found this post informative, please:
Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here: https://brave.com/wor485
