Thursday markets - Bitcoin bulls need to make a stand here, follow the plan with STEEM, oil pressure building to the upside

in #trading7 years ago

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Good morning everyone! Let's kick today off with a review of the markets. First what's happening on the news front?

  • North Korea threatens to 'sink' Japan, reduce U.S. to 'ashes and darkness' Link
  • China may not ban Bitcoin exchanges at all. According to recent reports from local media and the country’s National Internet Finance Association (NIFA), bitcoin is not ‘illegal,’ but exchanges may face tighter regulatory supervision and might have to cease operations temporarily until they are licensed. Link
  • And today we have a Super Thursday! Bank of England rate decison and monetary policy summary in 4,5hrs.
  • SNB Monetary Policy Assessment and Libor rate in 1 hr
  • trade safe people ;)

Let's have a look at some interesting charts

BTCUSD H4. Bitcoin bulls need to make a stand here. 38% fib retracement from the last swing, divergence on relative strength and a historic support level. Give or take a few point.
btcusd h4 bitcoin bulls need to make astand here 38 fib div and minor support.PNG

STEEMBTC still in triangle. Follow yesterdays Wyckoff plan. Link to post here. If that plays out is to be seen but this is what i'm looking for.
steembtc still in triangle watch yesterdays post with wyckoff thoughts.PNG

WTI oil. Pressure building to the upside. This i really like, levels are defined.
wti daily pressure building to the upside.PNG

USDCAD daily. Clear divergence is here but could we simply be bearflagging on H4 timeframe?
usdcad daily div is there but.PNG
usdcad 2 h4 coud we simply be flagging.PNG

Thanks for checking out. Be so kind to comment, if you have thoughts on these markets of your own. Have a nice Thursday, everyone!

Title image from pixabay

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So bitcoin should stabilize around the $4300, right?

not gonna happen, it's gonna experience panic sale to asl low as 3000, hopefully the bulls will take it from there.
source: https://news.bitcoin.com/markets-update-cryptocurrency-prices-dip-significantly-hitting-a-30-day-low/

yeah i set a tiny buy order at 2888, lets see

not a clue. i am not one of the hodler guys. i trade levels, if a level goes against me, i get out. always the next day to get in again.

thanks for sharing keep it up