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BTC in accumulation from 4/2021. Long-term bullish triangle!Today I want to present my main scenario. As long as 37400 holds I give this scenario the highest probabillity. I have identified an expanded triangle in the WB of the triagnle. Foundation for this scenario is WB which made HH and WC which has corrective nature and was unable to make LL thus it made HL. Now we are moving up in WD which is a complex correction with heavily overlapping structure. It is however still making HHs and HLs. As long this is the case we should be bullish. We have already seen some bullish indications such as D engulfing and swept liquidity below 39k. The probabillity of this scenario increases if we manage to get the confirmations labelled on the chart. If this scenario is correct we should finished the triagnle by summer and ultimately move to ATHs towards the end of the year (and perhaps reached the mythic 100k). We are forming our gameplan based on the indentified patterns which give us higher probabillity (they have been proven statistically significant) which in the long run should give us an edge (alfa = overperformance) in the markets. However, we should also be prepared for the alternative scenarios with lower probabillity so that we dont suffer large losses or get wiped out, even if it means limiting our profits and cutting losses when we are proven wrong. As TWC says, the only thing you can control in the markets is how much are you going to lose.
FTX:BTCPERPLong
by Tradern53
2
Unconfirmed bearish scenario for BTC. Watch out!Today I present to you inverted W chart of BTCUSD. We can see clear impulse down. Because we can count five waves we should form a scenario where PA will correct the impulse. So far we have gotten a reaction from lows and a HL which is the first indications of reversal. To confirm this idea we should see break of wave B of the recent correction in the channel and break of W4 of the large impulse. Moreover, this break would also confirm a Head and shoulders formation. When this happens, we should adopt this idea as a main scenario. Until then we should prefer bullish scenarios which will result in trend continuation. The move from the lows also doenst look that much impulsive and I tend to indentify it as a corrective move which supports the bullish scenarios. We are forming our gameplan based on the indentified patterns which give us higher probabillity (they have been proven statistically significant) which in the long run should give us an edge (alfa = overperformance) in the markets.
INDEX:BTCUSDShort
by Tradern53
3
Confirmation Sell For BTC/USDBTC is trading at 47,600 and moving higher. Here are two levels on my radar: Monthly 50% Retracement, $50,975 Monthly 38% Retracement, $46,721 Moving deeper into today’s session, I’ll be looking for price exhaustion beneath that 38% level. Here's the trade: 1) Wait for a 4-hour bar close beneath $46,721 2) Enter a short beneath $46,721 3) Initial stop above the most recent Swing High on 4-Hour chart 4) Apply a 1:1, 1:2, or 1:3 risk vs reward ratio This is a countertrend play, so confirmation of price exhaustion is a must.
BITSTAMP:BTCUSDShort
by TheTradingRoom
2
Double Bottom Chart PatternCompany info Wave Life Sciences Ltd., is a clinical-stage genetic medicine company that designs, optimises and produces novel stereopure oligonucleotides through PRISM. It is developing oligonucleotides target ribonucleic acid to reduce the expression of disease-promoting proteins or restore the production of functional proteins or modulate protein expression. Both the WVE and AGTC in my other trade idea have the same sector. The main ETF for this sector is the Health Care Select Sector SPDR Fund. However, there is an issue. Both these stocks are near all-time lows while the ETF is near an all-time high. So, the stocks are lagging behind. So, if you are going to trade these stocks be wary that they are going against the general market trend and there could also be other reasons as to why these stocks are not following the market. Double Bottom Analysis Type: Eve and Adam Length between Valleys: 5 weeks Volume Trend: Larger on the left valley Breakeven Failure Rate: 12% Throwback Rate: 65% Average Rise: 50% Price Target: 3.66 Percentage Change: 51% The double bottom analysis for this stock is the same as for AGTC. The length between the two valleys is within the ideal range at 5 weeks. Concerning volume , it is larger on the left side but not significantly. There does seem to be a downward trend of volume going from the left valley to the right valley. But this trend begins at the end of the left valley at the price spike that follows. The great thing about this patterns is, the stock is very close to their all-time lows. The left valley low was the all-time low. This means the stock has great upward potential. However, as stated above, the stock is not following the general market trend. Also, the stock has been on a downward trend since its inception. Regardless, the pattern is following all ideals even though the stock isn't. So, the pattern strengths are 3/5.
NASDAQ:WVELong
by BlackbearTrader