BTC/USD need a pullback to cool off after a nice rally from 4000$ to 7500$. The reason why BTC was pumped hard is simple,traders all time shorted BTC and the whales liquidated this positions. BTC/USD now just hitted the first long term 0.236 fib resistance line which is at 7104$ and also the candle closed below this resistance line(bearish sign)+we have a huugeee...
- Bear Trap just under the falling wedge support
- Rejected prices under 200 Day MA
- Good Volume Came in on Bull Break and retest to confirm support
Intermediate targets for me is 39-42 Sats, if that is broken the next level is around 50-52 Sats.
Watch for a potential correction and long opportunity off the 200 MA on 4 hr to break high of "A" potentially extending up into the zone (but not in a straight line of course). Refer to my daily swing pattern, as the short is my main idea...
Over the previous night and through the morning here in the US, the EUR/CAD has given 4 amazing trade entries on the 15-minute timeframe. Just thought I should share this and show y'all some great 2-Bar Reversal entry examples!
the "X" wave made a slightly lower high off 200 MA on daily, keeping the swing pattern still valid. Looking at the weekly, should AU continue correcting down, there should still be an uptrend in place and therefore another buy opportunity. Optimal entry for sell was off the 200 MA going off pattern and 4 hour divergence.
First, acknowledgement to Trading Shot post (linked below) which influenced me on some of my 50/200 MA calculations and understanding (and hopes!):
Thank you Trading Shot
Factors I'm watching:
LTC as a leading indicator - which I've been doing for about 2 years.
Standard Fib ratios. .618 my favorite and coincides with red TA line (discussed below). I...
GBPAUD is approaching the daily 200 MA at roughly 1.8040/1.8060 - This is also the 50% FIB retracement.
The pair are in a descending wedge pattern which is indicating a reversal, the RSI has also formed a descending wedge.
Entry for a buy at 1.8060 with a stop loss below the moving average at 1.7980
Target area of 1.8500 which is the 78% FIB
The 200 MA has acted as support since it flipped from resistance back on Feb. 8th. Will be looking for this correction to come down and test the 200 MA again. I am using the 200 MA on the 4HR and 1D charts at the moment.
We are at a 5000-5700 resistance level. This coincides with Weelky 50 MA (yellow) and the top band of Weekly 21 period BB with standard deviation 3.2. Also weekly RSI just closed at 60.
I believe this is a first sign of the upcoming bullrun, but looking back at the previous prica action at these conditions I think we need to retest the Weekly 200 MA (green) one...
According to the theory of Charles Henry Dow, of the three major market cycles, we had a bear market, bull market will come any time soon, historical levels of of support/resistence tend to be respected
"Be fearful when others are greedy and greedy when others are fearful.”
Possibly one of the most influential quotes of all time when it comes to investing. While this is necessarily not always the case, Warren Buffet understands that the whole merry-go-round that we call the stock, gold etc. markets are based on one, though far from simple, thing: psychology of...
Bitcoin is about to come in contact with the 21 Week MA (blue top line + yellow dotted line projected direction) which historically, we have not been able to stay above during this bear market. Since the crash in January, we have only been above the 21 Week MA 3 times and never for more than a week. In addition, if you extend out the top line of the meme triangle,...
On the weekly total crypto marketcap chart we are currently either still in a symmetrical triangle that could also be a bear pennant, or currently up out of both a daily falling wedge (in yellow), as well as the much bigger weekly falling wedge (in green). Bullish and bearish price target projections are posted accordingly and are color coordinated with their...
We can now see on the Total Marketcap's weekly chart we have managed to inch our way above the weekly 20ma's strong support. We need to of course close 2 consecutive weekly candles above this MA in order to confirm we have flipped it from strong resistance to support however and we can see the weekly stoch rsi is currently overextended and could potentially see a...
Eur/Usd came off the .618 retrace fib from the last large impulse on weekly. I'm expecting more upside on EU. Seems like it is making a flag on 4hr. If it drops down again to the 200MA on 1hr, that would be a spot I will look to buy. This can be a very large move up breaking the 1.15- 1.16 area, so manage accordingly.
BTCUSD struggling and the weekly chart was closed below a powerfull resistance line which means we need a re-test of a 200MA which is situated at 3400-3409$. Stochastic RSI is overbought and probably in the next week we will have a bearish cross.
At RSI we see clearly,was rejected.
In my opinion bottom was hitted BUT we need to test once again 200MA. Good luck