Lately we have seen that bitcoin is rising as a rocket. Now bitcoin has reached an area (orange), where there are a lot of seller. The question now is will the buyers push the price through this area? Yet I don't see any signs on the charts that gives us an indication that the upward trend is going to be declined. We maybe see that on the 1-hour chart that a candlestick pattern is forming, the shooting star. A shooting star close to an area of sellers is pretty dangerous, but we can't act on this shooting star yet, because we need a confirmation.
On the other hand I see bullish candlestick patterns on the charts of the alts, but still we need a true confirmation before we can act on it. On this ETH chart you also see that a few hours ago there was a bullish candlestick pattern, the hammer. It looks pretty healthy, high volume and the real body is almost as big as the candlestick before the hammer. Now the price is testing this bullish candlestick and we have to wait for its confirmation on ETH as well on BTC.
I will keep this idea updated, this is idea is mainly to check out what's going to happen with the crypto market. If I see an opportunity for creating a trading plan, I will let you guys know!
ALWAYS keep in mind! That this is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!
On the other hand I see bullish candlestick patterns on the charts of the alts, but still we need a true confirmation before we can act on it. On this ETH chart you also see that a few hours ago there was a bullish candlestick pattern, the hammer. It looks pretty healthy, high volume and the real body is almost as big as the candlestick before the hammer. Now the price is testing this bullish candlestick and we have to wait for its confirmation on ETH as well on BTC.
I will keep this idea updated, this is idea is mainly to check out what's going to happen with the crypto market. If I see an opportunity for creating a trading plan, I will let you guys know!
ALWAYS keep in mind! That this is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!
Comment:
That was the wrong capture, this is the right capture
Comment:
So on both chart we see that there is a continuation pattern on the 1-hour chart and on the 15 minute chart, that indicates us that the downtrend will likely to continue. We can't act on this, but we can add a shorting trading plan. Now we have a plan for going long and going short for Ethereum
Another thing to keep in mind is that a continuation pattern is forming on the bitcoin 15 minute chart. Which could tell us that ETH can go down too.
Short Position (ETH)
Entry: I plan to go short on ETH if I see a close on the 1 hour chart below 0.057414
Stop Loss: 0.057414
Target: 0.055413
So on both chart we see that there is a continuation pattern on the 1-hour chart and on the 15 minute chart, that indicates us that the downtrend will likely to continue. We can't act on this, but we can add a shorting trading plan. Now we have a plan for going long and going short for Ethereum
Another thing to keep in mind is that a continuation pattern is forming on the bitcoin 15 minute chart. Which could tell us that ETH can go down too.
Short Position (ETH)
Entry: I plan to go short on ETH if I see a close on the 1 hour chart below 0.057414
Stop Loss: 0.057414
Target: 0.055413
Comment:
Also we see an opportunity to go long on bitcoin. As we know bitcoin is still going up and on the 15 minute chart we that a continuation pattern is forming, the bullish flag, now this gives us the information if the pattern is completed that Bitcoin is going to rise again.
But we can't act on this yet, until we see a close above the upper blue trend line. On the other hand we could make a trading plan
Long position (BTC)
Entry:
- 15 minute chart: There is a possiblity to go long if we see a second test for the uptrend, but it will be close to the range of the double bottom. It depends if we see a strong upward movement
Stop Loss: See the support zone
- 15 minute chart: A close below the support line 8150.10
Target: We have to look closely what is going to happen in the orange area. If the price pass the first orange area, then our target will be 9671.6
Also we see an opportunity to go long on bitcoin. As we know bitcoin is still going up and on the 15 minute chart we that a continuation pattern is forming, the bullish flag, now this gives us the information if the pattern is completed that Bitcoin is going to rise again.
But we can't act on this yet, until we see a close above the upper blue trend line. On the other hand we could make a trading plan
Long position (BTC)
Entry:
- 15 minute chart: There is a possiblity to go long if we see a second test for the uptrend, but it will be close to the range of the double bottom. It depends if we see a strong upward movement
Stop Loss: See the support zone
- 15 minute chart: A close below the support line 8150.10
Target: We have to look closely what is going to happen in the orange area. If the price pass the first orange area, then our target will be 9671.6
Trade active:
BTC long position active
The candlestick closed above the continuation pattern of Bitcoin! I will keep the idea updated about the target and stop loss
The candlestick closed above the continuation pattern of Bitcoin! I will keep the idea updated about the target and stop loss
Comment:
New stop loss: A close below the uptrend on the 15 minute chart (Green line)
Trade closed: stop reached
Comment:
Comment:
A new continuation pattern is forming on the 15 minute chart, the ascending triangle, it isn't completed yet so we can't act on it. But we can make a new trading plan:
Long position -> 15 minute chart BTC/USD
Entry: I plan to go long if there the candlestick closes above 8311
Stop Loss: Close below the uptrend
Target: We have to look closely what is going to happen in the orange area. If the price pass the first orange area, then our target will be 9671.6
A new continuation pattern is forming on the 15 minute chart, the ascending triangle, it isn't completed yet so we can't act on it. But we can make a new trading plan:
Long position -> 15 minute chart BTC/USD
Entry: I plan to go long if there the candlestick closes above 8311
Stop Loss: Close below the uptrend
Target: We have to look closely what is going to happen in the orange area. If the price pass the first orange area, then our target will be 9671.6
On the Ethereum chart we see something interesting. The 1 hour chart we see a possiblity that a double bottom is forming and also on the 15 minute chart we see that a potential uptend has formed. We can't act on it yet, but we can start to make a trading plan
Long position
Entry:
- 1 hour chart: I plan to go long if a see a close above the range of the double bottom
- 15 minute chart: There is a possiblity to go long if we see a second test for the uptrend, but it will be close to the range of the double bottom. It depends if we see a strong upward movement
Stop Loss: See the support zone
- 1 hour chart: A close below the uptrend of the 15 minute chart, I am still looking for a better support on the 1 hour chart as time goes by
- 15 minute chart: A close below the uptrend of the 15 minute chart
Target: See the blue areas above on the 1 hour chart