looks like the market forms a fakeout ahead the FOMC-Meeting and could show us another nice drop as soon as Trendline B breaks!
Nontheless, be carefully as the market will highly await talks about inflation from jerome Powell!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Wanna see more? Don`t...
Bitcoin looks to have temporarily broken out of its descending channel (red solid lines) over the past few hours. But many eyes are wondering if BTC will retain its positive trend.
On the one hand, a normalization around a round number like $55K would be fairly common leading to a potential to jump out to near $56K before potentially retracing back to the trend...
I am still looking for shorts following my HTF analysis from last week. Following that last drive up, it looks to be an overextended impulse and from my point of view, assumed fakeout if we see DXY reverse from here.
Following a scalp on that impulse up, I entered a high-risk short, hoping it goes down to the 0.618 fib level as I have been anticipating. ...
It appears as though Bitcoin has pulled a fake-out to the upside of an ascending triangle but has found support on the blue upward sloping support of the pattern..
On the RSI there's clearly a lower high after lower high since BTC reached ATH's forming a descending triangle pattern, but the downward sloping resistance is on the verge of being breached to the...
Breakout or fakeout from desceding wedge formed over serveral days including a combination with a possible cup and handle pattern.
Lack of volume indicates it was a fake out from the established trend.
Where will Bitcoin go next?
A bounce to the downside of the wedge will break previous strong support from recent weekly lows.
A break to the upside will need...
This is a Wyckoff Distribution Pattern and Currently Market is in the UTAD phase which means BNB is about to give a drop now.
The Candle above the channel looks like a fake breakout and it is going to drop hard from now. If you want to sell then wait for the Market to go back inside the channel and go for the sell with stop loss at the top.
Based on Daily timeframe, I found out a fake out. So possible, for uptrend continuation,
I'm looking at left support for possible strong buyer re entry (retest).
So I'm looking at possibility for price to move up until nearest strong seller (buyer fake out).
Looking to run shorts on GBPJPY, we have now seen a breakout of this trendline, daily is starting to show signs of a slow down. I am holding longs on GBPJPY from 135.00, 140.00, 145.00 & 150.00 so this is why I am allowing myself to take some risky shorts. If my shorts get stopped out, then I just hold longs, win-win