My TA analysis for next week.
Daily Timeframes : BULLISH.
Current Direction of market is BEARISH. (short term)
Chart Pattern : QMP Setup (Sell) + QMP Setup (BUY)
On this BIG Ranging. At Current setup is still bearish movement because price have break 2 H1 SUPPORT.
For next week, watch what pattern form on lower timeframe (M15,M30,H1) at H1 Support....
My speculation was right, sadly RS was form on BTC, hence we have a technical break down target. Earlier my ideas for ascending triangle was invalid. We are oversold on the RSI. However there's strong support on the 48666.35 base on the vpvr. We need to hold this level, otherwise more downside will come for BTC.
My personal time learning to do TA especially with bitcoin is to try and find multiple outcomes both bearish and bullish.
I have seen too many in this space get too deep into a one-sided bias and watch their losses be quite substantial because of it.
Mostly that has to do with expecting bitcoin, or any asset for that matter, has to hit a specific target and get...
Since we could see the formation of inverted HNS, 1.1535 is a potential zone to buy. For confirmation, make sure rejection candlestick formed at this area. Target TP at price 1.1610 and SL at price 1.1511
The Head and Shoulders pattern is one of the oldest recognised market structures. Representing a fully formed fractal when completed, the H&S confirms a short term reversal in trend.
Setting the levels 50%,100% and 200% on the Fib tool, I have devised a simple system of confirmation/action to take advantage (profit) from the completion of the Pattern.
Seeing a rounded top beginning to form after a pretty clean ~40% run over the last year or so. This setup remind me a lot of crude oil short I posted a few weeks ago. I did just post a TSLA long idea which totally contradicts this idea, since TSLA is now tracked in the S&P index. Nevertheless, when I see a clean pattern I want to post it. IF this does play out,...
BTC look tries hard to break the resistant MA 200 and make bearish crab pattern. I think BTC will go to retest the previous neckline HNS and in that situation BTC whether to continue bull run 2.0 or mega bull trap. I dunno why I still believe BTC is in a bear market because the volume is not enough to push up BTC.
*Some idea from Skyrock Signal
Price is at the level where it's making a third touch on the descending trendline from 2007. (I know, that's a long time ago ^_^)
Price has been in an uptrend since March 2020 and it has come to the most recent highs since February 2018 in the 155.600 zone. This is a place where sellers could be waiting if price is...
I posted on my last post here, that I’m thinking the price will rise, but now I think I was wrong.
I think there’s a lot of weakness in the market and I will explain why:
1. The highest VP points on the lower half of the range - that is a Sign Of Weakness(SOW) because it means the for most of the range, there is not enough demand, the supply slowly pushes the...