Sunday Notes, May 29

As I wrote in previous post: "Based on the structure of the upward correction from recent lows, I suspect larger correction is not over and we can expect possible breaks below recent bottoms both in BTC and ETH".

Unfortunately that turned to be right (at least with ETH). 

ETH failed to stay above previous low and is more likely to continue down to mentioned lower level targets 1,453/57 and below that to 1,050<>874.

BTC for the moment is still above it's recent low 26,591 but as I said before I'm not impressed with the structure of the move from that low onward. It looks more of a correction than to a reversal, so it's more probable to expect continuation down. A break below 26,591 to confirm that that will open targets at 25931<>24,588 below that to 14,835.

On the flip side "Break above first 52,773 and then 59,891 is the first indication of a possible continuation of the uptrend to new time highs, but just after a break above 68, 958 will be a confirmation".

GOLD

Gold down to 1,663 to possibly 1,405.

CRUDE

down to min 90.55 below that 76.56<>62.57

Break above 135.84 to confirm up to 168. 

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Sunday Notes 29 Sep

More than a year ago I started forecasting BTCUSD for a friend in a series called Sunday Notes written in Macedonian sent in a private chat on Viber.
I am now continuing to follow BTCUSD here.

BTCUSD

In the previous posts to my friend I wrote that BTC is in a correction to a zone of  9730<>8490<>7240 and I also forecast that second leg will be contained in the 11115<>11662 up to 12358 (on 29 Jul ). It made it's high at 12325 to start it's final leg of correction down to the lower zone, and as I wrote in the following message (from 2nd of Aug) it will most probably go to 7240.

Now, the fall to 7240 is in it's final approach and the correction will most probably finish there to continue up to first break 13764 and then the all time high at 19891 (Bitfinex) to continue up to min target zone of 24278<>34818 (base on assumption that correction ends at 7240. An update of this levels after finishing of the correction).
Fall below 7240 wont negate this scenario but will indicate weakness. Fall below 5470 will raise serious doubt and open door to completely opposite development, and the break below 3224 will definitely negate the UPtrend scenario and confirm we have final leg of the larger correction down from the all time top at 19891 still in place and a serious weakness of the BTC.
At the moment I am more inclined to the UPtrend scenario.


EURUSD

Almost touching (40 pips above) the upper level of the forecast zone from previous post (1.0865<>1.0814<>1.076) and not showing definite signs of finished correction and reversal up at the moment of writing, but needs to be monitored closely. 
It will very possibly finish the correction in the next few hours to a day to continue up above Feb 2018 high of 1.2555.



NOTICE: These are not Trade recommendations or advices and I don't accept any responsibility what soever.