Bitcoin is currently trading below a local SFP level and is looking to cool off a little bit over the weekend, possible coming back down to the golden pocket mapped out below (Orange Double Lines). If it does reach that zone, I would expect price to keep climbing in the short term, but anything can happen.
Lets see how this all plays out.
This is a great area...
SFP: swing failure pattern
Swing failure Pattern is a common trading setup that is highly respected and repeated frequently. It is used to identify lack of buy/sell pressure when a trend is being broken.
What’s in the name?
👉 When the markets are trending, they tend to make swings. These are associated with ABC patterns (see image above).
👉 In this...
@bitofamacroman @Bekiumuzi_Dube
I am contributing "Swing Failures" to your analysis. Here I wait for lower highs to trigger the first Swing Failure and enter SHORT.
BTC is very bullish on 4hr timeframe at least to give a small swing high but gave only 3% from the last trade we took. i took profits on my small accounts as we are seeing bearish divs on 1hr. so expecting a retracement on these levels. use manageable leverage as we are seeing bear trend on weekly timeframe. more on that later.
Elon Musk has been on a tirade against Bitcoin on his twitter - but the signs of weakness were on the chart well before he started tweeting negatively about it. Let's take a look at what happened, and what to look for next.
First lets break down the price action concepts on this chart.
Weekly Swing Failure - this was a swing high on the weekly chart that price...
Like I stated before, if price goes back above 90 and successfully retest the lvl, then bulls have the chance. If not, potential play is to build up shorts inside supply zones, then close the shorts and flip long once the price lvl is inside the buy zone.
Bitcoin is being Bitcoin hence not trading it from the past week, wicks on both side Exchanges are the only ones making money, retailers are f**ked
entering a swing short position here on BTC with 2% account risk, looking at possible Super #Bart (#SFP) 3Drive is still valid
also, there is a possible H&S in the making, once we break the Mid support line on the...
At large the stock is in a continuation phase currently and is expected to consolidate further given its possible pennant structure. However, the supply zone has been tested multiple times in the last 7 trading sessions combined with higher lows at each test. This may cause an untimely break in the following trading session which in turn will provide a good...
Okay, what can we say about BTC today guys?
Well, the one who didn't notice that absurd first 4h candle of the session was sleeping in a cave, but otherwise?
We are once again in the presence of a swing failure pattern, folks, it is usually a reversal indication but with the BTC it is better not to take this for cash.
The trouble area at the moment is still...
Good morning, traders. Bitcoin never could get going yesterday and isn't looking too strong at all today. As a matter of fact, we are currently seeing a bit of a sell-off as I type this. However, we should zoom out to the 4H chart and note that volume has continued to drop on the reactions and rise on the rallies since November 14th. Not only is the volume...
In this idea I show you how I trade swing failure patterns.
This is good for any time frames but lower time frames are preferred.
Very simple idea yet works pretty nicely.
Let me know what you think.
