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Fakeout

BTC fakeout and continuation of Wyckoff accumulationAs you can see, we're at the same point as we were in the last wyckoff accumulation, where we broke out of a descending channel only to be rejected at the RSI trendline. I've long been observing that the current drop is a smaller version of the May 2021 accumulation phase and at this very moment, it is behaving the exact same way. We're probably going to get rejected and bleed down to the 43-41k. When comparing the fakeout of May 2021, we reached the upper levels of the Automatic Reaction (AR). If we were to follow this path, we will see a rejection around 51K. History doesn't repeat, but it often rhymes.
BITSTAMP:BTCUSDShort
by AlexWasTaken
11
Higher Trading Range Currently Unsustainable!We've seen BTC attempt to stay in the higher trading range but quickly gets pulled right back into the lower range. I am not bullish on bitcoin until it can trade in the higher range and shows the strengths of breaking out of that one as well. This is essentially a continuous fake out or bear trap happening. Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect! Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
BITFINEX:BTCUSD
by rnaofs
4
BNT returned in sideways trendBNT is ranging since May 2021. Support that built at $2.66 on June was tested again one month later in the form of a fakeout. In January 2022, price passed through $2.66 and found strong resistance in the high demand zone between $2.30 – 2.08. In the 4H LTF, BNT was accumulated between 22 Jan. and 05 Feb. That in conjunction with the long tail candlesticks - in the same period – indicates that large traders absorbed all the coins that sold below $2.30. Yesterday BNT returned in sideways trend in relatively low volume. That’s not necessary a bad sign. Besides, changes in price are relatively small. Today, $2.60 level retested again. If you want to go long, a position below $2.8, take profit near psychological resistance at $5.00 and stop loss below $2.30 or $2.08, gives you a R/R >3 - 3.75. A conservative target if we gain psycho resistance is between $10.00 – 8.00. I’ll keep my report updated to any significant changes.
COINBASE:BNTUSDLong
by Rhaonnor
Is the crypto market creating a bulltrap? #bitcoin #ethereumCrypto TOTAL market cap fell back into the price channel once more, after the current situtaion in ukraine keeps the markets on it's heels. Also that short term demand line got broken as well. Depending on how reliable the volume is in the TOTAL chart, the volume in the selloff was pretty huge as well. We might see some violent moves in the crypto market soon, either to the up- or downside. It mostly will depend on how the situation in the ukraine turns out, as it seems that is the biggest concern markets have at the moment. Do NOT forget about the FED though, they probably might get jealous with all the attention the ukraine situation gets, so they might drop something too soon :D Most importantly, stay calm and don't overreact to the current situation and keep your spirits up! Good luck with your trading!
CRYPTOCAP:TOTAL
by 10xTrading
What Does a Fake Breakout Tell You?Breakouts occur at resistance and support areas. These areas could be based on trendlines—horizontal or diagonal—prior highs or lows in the price, or chart patterns drawn on the chart. A breakout is when the price moves through a support or resistance level and keeps moving in that direction. A failed breakout is when the price moves through a support resistance level, but then fails to continue moving in that direction and instead reverses course.
BITSTAMP:BTCUSD
by Crypt0_Ninja
Ascending Triangle on BTCUSDHi Traders, I normally don't do shorter time frames but as you can see on the 1HR of BTCUSD, the price has had lower lows and equal highs. This is obviously a symptom of an Ascending Triangle. There is one small thing that is kinda weird and that is there is one move out of the resistance line which looks like a fakeout/ liquidation station. This will break out in the next day or two and the target is 46k USD. However, in the rare case, we DO breakdown 42.8k is the target. Safe trading, -Pulkanator
Long
by Pulkanatir
5
what is next for GBPUSD ? 💡As I mentioned in my previous analysis ✔️ the price has started to gain from our second support area 💣 and now the price can start correction to the downside and hit the black trend line near the support area ❌🧨 or start to gain and if it breaks the major resistance and channel resistance, hit the upper target 🚀🚀 This is not financial advice, always do your own research. Please, feel free to ask your question, write it in the comments below, and I will answer. 🐋
Long
by MadWhale
19
FANTOM breaks the trend line 🚀Based on the chart, we had fake out for the price to the downside ✔️ and now the price is above the blue trend line support once again ✔️ besides we have major support here for the price ✔️ if the price stays above the trend line and support area here we can expect gain for the price and our first target is located on the chart 🚀 This is not financial advice, always do your own research. Please, feel free to ask your question, write it in the comments below, and I will answer. 🐋
FLong
by MadWhale
16
ETHEREUM long position 🚀Based on the chart here, we had a fake out for the price to the downside from our black trend line ✔️ and now again, the price stays above this important trend line after reacting to our channel support ✔️ besides here we have an important support area for Ethereum ✔️ so we expect gain for the price at leat to channel resistance 🚀 and if the price breaks the channel resistance to the upside, we can see more gain 🚀🚀 This is not financial advice, always do your own research. Please, feel free to ask your question, write it in the comments below, and I will answer. 🐋
Long
by MadWhale
17
Breakout or fakeout incoming?We've struggled BIG to turn this trendline into a support since late 2021. Breaking out this trendline could attract some looks certainly. If that that happened while we see some more significant volume then it could turn into the beginning of something. In my opinion trend reversal won't happen when everybody is getting bullish. Trend reversal is most likely to happen when all hope is gone. When 99.999% bulls have turned bears and many of them have dumped their holdings expecting the worst. And that's why I'm struggling to see a potential breakout from this trendline yet. I can even see the next red candle dumping after rejection, or even a fakeout from 43K with potential downside to below 40K. If that happens I might turn more bullish.
by TheTradingParrot
3
Hidden Bull Flag Formation!Hey traders! As you can see on the Daily Candles of the Total Cryptocurrency Marketcap chart, we began with a Bull Flag pattern that started during summer, I believe this is somewhat of a fractal we are experiencing now. What happened during this downtrend is that we got two touches to the upper resistance line and two touches to the lower support line. During this period we also had a fakeout which also happened in the current one (Labeled "Fakeout"). Now that being said, it seems as if the break out of the downtrend will occur during late January or very early February. However, what is key is that we don't break the support line as shown. Based on all this, early February is something you want to watch very closely. Safe trading, -Pulkanator
CRYPTOCAP:TOTALLong
by Pulkanatir
EUR/USD probably a fakeout!Hey tradomaniacs, "Asia's share markets turned negative on Tuesday as two-year U.S. Treasury yields topped 1% for the first time in almost two years with investors weighing the risks of a Fed policy rate rise as soon as March." Read more 👉 www.investing.com This is the reason why I`m concerned about the US-DOLLAR-drop from last week and have the suspicion that we are going to see fakeouts. Do you remember the post about rising yields but the falling US-Dollar and that one of these charts is lying? If we see a continuation of higher yields we can expect US-Dollar to make a huge turn. Also keep in mind that the entire rally during the corona-pandemic was based on the liquidity that has been provided to the market and that we could see more risk-off if the economy continues to cool down / stagnate while the FED is forced to fight inflation. Here are some charts just with key-levels: 1️⃣ AUD/USD 👉 2️⃣ GBP/USD 👉 3️⃣ EUR/USD 👉 I will patiently wait because fakeouts can cause huge momentum to the downside here as soon as finished!
Short
by Trading2ez
6