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HOW TO TRADE THE FALLING WEDGE PATTERN a.c-dn.net
the short term support has been tried and have hold so far. we could see a continuation of the upward trend. Volume will be of prime importance in the next days.
As bullish as I am - I still call it how I see it. The purpose of technical analysis is to maximise profits and minimise losses. Bitcoin is showing some very bearish signals and extreme caution needs to be taken otherwise you could see yourself holding massive bags on the way down. Bearish signals - Death cross incoming - Macd converging downward - Volume...
The 45,000 range is a good support for Bitcoin. If not supported, the market will continue to decline.
BTC/EUR chart currently seems bearish; it looks like a downward triangle with 2 highs and 2 lows. Nevertheless, we might need to wait for the third pair of high/low as confirmation. My guess is that BTC/EUR will offer us better prices to buy soon. The support is strong at €37000 ($44850). Elon's purchase pushed the BTC price up to around this support...
Bitcoin broke its previous downtrend line. It seems to be on an uptrend, but there is a green resistance against it, which allows the re-downtrend to move up to $ 47,000. If Bitcoin breaks the upward resistance, we can expect it to climb to the $ 55,000 range.
During the last few days, both Cryptocurrency prices and US equity prices has been shaky and have dropped from their ATH (All-time-high). Reason being that there was uncertainty in leading up to Federal Reserve Chair Jerome Powell speech. Many investors were speculating that interest rate might increase together with treasury yields because inflation of 2% is...
WOW! What a crazy 24hours, the entire market saw a massive pullback as suggested in my previous post! Firstly a massive congratulations to everyone who followed by BTC short post - I hope you all secured profits and were able to grab some discounted coins! Bitcoin has found strong support and looks like the trend is reversing, we could see a run back $58k before...
Bitcoin has been in an upward channel since is in an upward channel since breaking the $47-48k resistance zone, since then we have seen a 20% increase to $58k MASSIVE! It seems BTC to be showing bearish divergence in the RSI as well as a noticeable drop in volume. Bearish MACD cross on 4hr - death cross could potentially follow. With a potential drop in BTC...
I am waiting for the double top I talked about previously, could this be it? I don't know right now. I have no intentions of buying or selling right now. IF price forms a double top fakeout here and drops then there will be an inverse head and shoulders pattern at 15k. IF price rallies from here then the short will not happen until 80-100k, in which...
📌 ridethepig | BTC High of the Quarter? A short iteration update here after the wild moves cleared the board and left a lot of confusion behind. The beauty of abstracting to volatility trading, or elasticity trading or trend following is that you take all of the noise in the inner waves out, and just trade time and probabilities . Well done...
OK, so to be clear in order for us to be officially in the bear market we need to create a double top on the weekly. A double top where the second peak breaks and fakes out the high of the first peak. (I will update when that actually happens). I appear to have been calling the short a little early. We are now about to begin the final bull move before a huge...
📌 ridethepig | Variation of Flow & Profit Taking When in the much disputed variation of covering partial longs, we can look for some shorts to play the pullback towards +/- 48,000 of an incomplete (iv) in a 5-wave sequence. This point of view is based on a complete and understood notion in the concept of an underlying impulsive nature to the move. For this,...
Price should start to retrace lower from here for the next few days.
I believe that if BTC break 48000Eur there is no resistance till 55k
📌 ridethepig | The Capitulation Very little to update after a quiet European and NY play. Buyers are clearly in the superior position, as you all know, just a matter of time before we get the capitulation let now. A very quick leg towards $57,000 is in play , we have the open ladder after clearing 161.8% extensions and our enemy is...