Doge is near the key level. The price starts to squeeze, a signal for a breakout, but at the same moment big capital starts to buy back bitcoin and we see big volume in the footprint. This is a signal for growth. Therefore, a false breakout of a key level could be a good buying opportunity.
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Bitcoin, along with the whole market, continues its decline. Yesterday CTK broke through the key level of $1.62, after which we did not see a strong momentum downwards, the price consolidated and has now broken through that level upwards. If this bar closes above the key level, a bullish structure will form on the chart - a complex false breakout. In this case, it...
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* This is not a financial advice, trade on your own risk management *
looking at Dot chart, and also analyzing Total market cap with it, we can figure out 2 things :
1. we have a trend line on dot chart in which everytime we hit the bottom, we bounced off and made a new high.
2. every bottom we made on dot, was also made by Total...
As a followup to my Tradingview idea warnings about the false breakout on the INDEX:BTCUSD weekly chart this video looks at other examples of this pattern. Be patient when price approaches major or All Time Highs. All you need is to wait for confirmation and price will tell you which way it is going! Examples: NASDAQ:AAPL , NASDAQ:TSLA , NASDAQ:COST , ...
PGNY making me sad but my average cost is much further down. The spike on earnings earlier in the month is an example of a false breakout. You just never want to see this type of price action on a new high or ATH. Mark it in your mind as a pattern to take profits or cut the breakout trade.
GOLD price if could hold above wedge pattern support line may reach around 1840 , just breaking the long term down trend line (Red) for the "sake of " trapping" "trend line breakout " trading traders...
EURNZD on the 4h chart tested a few times the weekly support.
The market a false breakout took the liquidity and is now testing a 4h resistance at the 1.62 level.
According to Plancton's strategy if the price will break above and the ACADEMY conditions will be satisfied we will set a nice long order.
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure...
From what I'm seeing right now on the weekly TF Bitcoin has made a higher high but at the same time, it looks like a false breakout based on the previous candlestick. With that being said the bears are trying to gain temporary control to bring the prices lower to the next support. We all know when Bitcoin corrects, it happens very quickly. If you're...
Shiba has been in the accumulation zone for almost the entire day
In order to define the next direction of the price, this will depend a lot on the strength and volume that we see in these next few hours.
but for now we focus on the range and key supports where the price may bounce to a to decide in which direction will go...
A core principles of good trading is CONFIRMATION . A core principle of Technical Analysis is closing candles. A good trader waits for confirmation of their trading indicator before entering a trade.
One of the key things I trust in my trading and advocate to others is to wait patiently for a candlestick to close to confirm a break of a certain level. Before...
So far: Shiba is consolidating and still no false break out that alert us to be prepared for a possible bull run
Consolidation Channel = Orange
Dased Purple Line= Price i got in
Green line= Major Resistances (last week)
Thin White Line= Long Range Support
RED Trendline= Bottom !
SO WHAT YOUR TOUGHTS ON SHIBA?
Please leave a coment, Would like to hear from...
GBPUSD: The false break of the resistance at 1.3655 and the reversal hourly candle alongside with overbought RSI readings make a retracement towards 1.3610-15 a probable scenario. We will set our stops above the highs targeting 1.3620 and 1.3600.
H1 time frame.
Structure: The price has formed a new high confirming the uptrend.
After forming a new peak, the price is showing signs of retesting at the 1765 price area. Here, waiting for the bullish candlestick pattern to appear, you can enter a buy trade with XAUUSD.
The profit target is the 1785 zone.
However, with a bearish structure on a large time frame,...
The high wipe had to happen, we couldn't sell simply from a trendline breakout.
This was a trap, now that the trap is out of the way we can look for sell opportunities.
I expect one last purge of the highs before we collapse into equal lows.
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As we can see on the chart, price consolidated above major support zone taken from the monthly chart.
If we zoom in to the weekly time frame, we can see a false break from the recent lows and rejection from the bottom of the channel.
If we zoom in to the daily time frame, we can see a "V shape" and a small retracement above the previous weekly lows, suggesting...