DLavrov

Bitcoin - How to Predict Reversals and Fix Profit in Time

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Is it possible to predict when the trend movement will be over? It could help us to fix profit at the right time and exit from a market which starts a movement against our trade.
This example is a good one explaining how we can predict trend reversals. This setup will be in the future in any markets and any timeframes. You should know how to use it properly because it will help you to take the right decision.

So, let's start!
The price made an attempt to break 8000.00 resistance level . We got a bearish candle after that confirming that buyers did not have the power to push the market higher. The market had formed a new swing high and the price moved back below the resistance level . We got a bearish divergence between the price, RSI and MACD histogram. It became the 1st signal telling us about the trend reversal.
After that, the price continued the sideways movement and gave us a new swing high. This new swing high allowed us to change the bearish divergence into the double bearish divergence which made the trend reversal signal stronger.

At the same time, we got two swing highs at the same level, which allowed us to talk about a double top pattern - a trend reversal chart pattern. When the price had broken the signal level of the double top , this pattern was confirmed as a reversal one. MACD histogram and lines had confirmed the further downward movement and we saw the falling to lower support zones.

We got a strong bearish candle with the long tail reaching 6000.00 support level , but with close price at 7000.00 support level . The price moved sideways one more time and made an attempt to move above SMA50 in order to confirm the bouncing from 7000.00 level and continuation of the uptrend. Now we can see that SMA50 acts as a resistance line and it does not allow the market to move upward. It can be a signal that if the price breaks 7000.00 support, we will be able to see the falling to SMA100 and the most exciting support zone at SMA200 which also includes the uptrend line and 6000.00 level. This zone will be very interesting for possible buying based on confirmed reversal signals from the 4H and 1H timeframes.

If you think this post has value, please support it by clicking LIKE button! I will be very grateful!
Don't forget to leave comments if you have your vision on the current market situation or if you want to leave the feedback.
Comment: Updates for this post! Please read here
Comment:
THE BEST OFFER!
GET access to all our PREMIUM stuff for FREE - Send me DM for more details or visit >>> https://tradunity.com/beta

KNOWLEDGE. EXPERIENCE. TOOLS! SUBSCRIBE >>> https://youtube.com/c/tradunity
Tks, and this is my chart
Reply
You are one of the best here, and you are humble too.
Love it, Thanks!
Reply
@mbc47, thank you very much for your words!
Reply
Cryptocurrency market now on bullish alert according to both the TOTAL and TOTAL2 indexes... Take a look at it below:

Thanks a lot for the support.

Namaste.
Reply
1 year ago I knew the bottom. Now my lines are holding the upward momentum :
Reply
Cryptocurrency market now on Bullish Alert:
Reply
DLavrov alanmasters
@alanmasters, To the Moon again?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out