BTC is currently trading in an ascending channel. It was rejected at the top and fell down to the 55ema support. Will this support hold and push it to new highs or will it fail and retrace to the 51k area?
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Noticed that $BTC is potentially repeating a pattern that we've all seen recently...
We could be seeing either:
- A highly coordinated bear trap..
- A continuation of the current correction..
*moved the pattern down a bit to make it easier to see*
Now while pattern similarity doesn't necessarily mean guaranteed PA (Price Action) this is...
As you asked about CELRUSDT, based on the chart, price reached a major resistance area an actually there is nothing to do right now because we have 2 different scenario at the moment:
1. rejection of price from this level (or even a false breakout):
It may lead the price to drop on specified areas. (probably 0.043 )
2. Breaking this area...
Where a D1 indecision level and the resistance of a H4 falling wedge intercept, price respected. NZDUSD is currently beginning to push off the resistance, however, expect some consolidation around the zone pictured above for the possible formation of a fibonacci retracement. A bullish DXY is another NZDUSD sell confirmation due to the fact that USD is the quote...
Let's take a look at LTC/USDT on the Daily TF. I mapped out the next Support and Resistance that I think we should be paying the most attention to when considering your next trade. Right now LTC looks weak like most of the market and it can continue to fall down to the white support line shown. That would be a good place to consider a Long. If it...
the price finds itself stuck in a symmetrical wedge. I will wait for a breakout or breakdown. My opinion is however that the price still is extremely bullish and is probably building up before breaking out. What do you think?
$ATOM we have some interesting charts happening with this one. Major uptrend is the dotted yellow line. Bearish scenarios are $19.22 & $13.53. 19 correlates within the recent linear regression downtrend. The RSI is turning bullish and MACD is neutral. In the yellow circles we have bullish candles followed by neutral bullish candles. The last major upside breakouts...
We may potentially be looking at an LTC bullish channel with price attempting a second touch at the moment. However BTC is currently indecisive and we could see some further bearish momentum on BTCUSD which will negatively affect LTC.
BTC is selling off a local top here. Is this the end? Just a dip? Who cares! Make money while the market decides. I see a lot of people use fib retracements literally anywhere and everywhere. But this instance is a perfect example of when fibs can be useful buy and sell zones. What will occur over the next few weeks is the reduction of volatility in bitcoin. Price...
You and i both want that sweet correction back to 20-28k, but are we going to see it?
Found myself some bars that correlated pretty well with this last move, so im going ahead and posting them.
The top of this "fractal" ends about ~double ATH's market cap and top of our long-term channel.
(Weekly view of this chart with out the bars is located below)
i myself am...
Last setup didn't make it to carry out because of news volatility. These news brought a lot of overall indecision. This is reflected in our chart, as we can't determine any clear overall direction (market structure formed a triangle).
However, being my bias still bearish, i believe a break to the downside has a higher probability. If not, i'm not...
DAILY ANALYSIS :
-Around a resistance zone from the past
-Will close as doji if price doesn't move much anymore.
BI/QUAD HOURLY ANALYSIS :
-slight divergence forming
-price rejecting resistance zone
It is possible to see...
Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more!
Lets keep it simple.
We see LINKUSDT trading in an ascending channel on the daily. If it breaks out perfectly it'll retest the PREVIOUS HIGH @ $20. Those could be a great take profit area. Don't forget...
I put together this chart to show you that in reality, all we are seeing is indecision. We should be patient and wait for the market to show us its clear direction. Once we see a break either way, I will be looking to buy/sell from the re-tested structure to the targets marked.
COT Data - 54% Short
IG Client Sentiment - 59% Bullish