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Moving Averages

A nasty monthly chart and the Confluence zoneHello all trader, how are you doing today? I hope you're all doing great. Here we come again with the monthly chart of bitcoin which is however a little bit nastier than I thought earlier. With a different method of technical analysis, this will give us a refreshing view of what's happening in the market for now. Looking at the monthly chart, I found that the bear is taking control of current market for now. There are some indications that could support my view on this current condition. 1. Histogram on the monthly chart is showing us a ticking down to the negative side which usually will lead the price to further touch down to the next support area. 2. Death cross has already occured on the moving average of the MACD. This shows us that the momentum of the bulls is slowly diminishing, and the shifting from bullish to bearish is happening right now. 3. The confluence zone however always be my part of analysis which usually can give me a clearer view of what could happen in the near future. I'm using the body to body connecting method to connect the 2 swing point for fibonacci retracement and I found a lot of things are getting interesting here. I found that the golden pocket zone is locating align with the previous resistance region for bitcoin. And what's more important is, since the initial break out of this resistance region, I can't find a phase 2 of break out strategy which is retesting the previous broken resistance as a support for now. And considering that this white zone is the broken resistance turn support, I am pretty sure that this zone will become a key support level that will act as a magnet for current bitcoin's move. For medium term, there is still a potential down trend toward the 78.6 fibonacci level or even lower. And the end of 2019 will become very nasty. But, for short term, I'm still unbiased and as long as the price can't break the lower support aroung $6500 region, my previous analysis which refer to the potential wave 3 will always be valid.
BITFINEX:BTCUSDEducation
by junosats
HOW TO FIND CHEAP ENTRY SIGNAL FOR RISKRETURN LIKE 1:10 AND MOREHI BIG PLAYERS, in this tutorial I want educate you my experience, how to find really cheap entry for trading. In this example it was possible to take part on a 1:10 trade. It means for 1 USD investment you could take 10 USD return (Risk-Return-Ratio => RRR). ///////////////////////////////////////////////////// E X A M P L E F O R A B U L L I S H T R E N D ///////////////////////////////////////////////////// At the beginning we are looking for an oscillator, that shows us an oversold area and in the same time a bullish trend with higher and faster EMA than a slower EMA on the chart. This is possible with a slow EMA(close, 200) and a fast EMA(close, 50) and a RSI(close, 14).... => this is for example my way to find it on the Forex Screener from TradingView at fast as possible. I developed a similar structure with more quality signals with my candle oscillator indicator. Named: CO 'I. This indicator allows to see the candle between a range und works at well like the RSI oscillator with 30% and 70% oversold and overbought area. The most positive on this indicator, you don't only see the closing relating price - you see almost more: open, high and low. Furthermore, I found out that if the body of a candle goes into the range between 30-70% and this is the same trenddirection in the chart, then it was to 90% the lowest/highest bar or 3+ bars nearby them. So back to my education: My main view starts on 4H Chart. In this example I found on EUR/JPY a bullish trendfilter with the EMA's and a oversold area on my OC 'I (the wick of the candle was touching the 30% line) - it's only necessary that a touching of the candle is true. NEXT STEP: After this bullish signal it is necessary to zoom in the lower timeframe. Here I choosed the 1H Chart and had to wait till the body of the OC 'I also touched the 30% line and of course wait till the candle is finished. It don't depend how much the body touch the 30% line - but it's necessary that the body is touching. In addition, a bullish divergence was built (looking to blue lines). After the first touching I go into a lower timeframe again. The 15H-Chart was choosed for this example. Hereby the same game: waiting till the body is touching the 30% line. NOTE: furthermore, if I going into the lower timeframe and the body is already touching - then you don't need to wait for the relase into the range and back to touching again the 30% line. The 15MIN Chart is the last timeframe. Now we wait till the body goes up and don't touch any line. This is my signal to buy. My exit depends always how the market flow are: in this case it was a big uptrend and a adapting correction wave (this is mostly the time for divergence and this why I set a takeprofit on this high). With this approuch it was possible to catch a 1:10 trade. Kind regards NXT2017
Education
by NXT2017
LevelsHello fellas, Happy Saturday and I hope this can be a nice weekend for all of you. Today's update is always about bitcoin and this will always be a significant update as the analysis for the next 7 days ahead. I hope this analysis still can give us a nice horoscope for the next few days, just like what I've always did! So, Enjoy! Looking at the daily perspective of the bitcoin's price, we can see that the down trend channel that has held the price since June 26th, 2019 as the initial corrective phase of bitcoin is remain valid and still hold true. At November 25th, we can see the price bounced right after it touched the lower line of the channel which act as a strong support so far. Right now, the price has came close to the median line of the channel which is acting as a strong support too. we might see an action at this region whether it is going to break it out or getting rejected from it. If we see a break out action, we might see the price to reach out $8800 as the shadow support before it pushes further to the upper line of the channel as the next strong resistance ahead. But, if the price get rejected at the yellow zone, we might see the price to push further low to $6600 or even $5500 region. It's just a matter of time, we might see the price to push further to the lower region of $5500 as it's almost impossible for bitcoin to breaks the upper line of the channel which is huge for now. with current condition, A lot of uncertainty in the market, Huge adoption this year, But low levels of confidence? It is certainly the longer recession is coming.
BITFINEX:BTCUSDEducation
by junosats
"bullsih pennant" in re-accumulation (reference)Background on higher time frame was bullish/uptrend. Characteristics/points of confluence: established up trending background 50% retracements with high volume price rejection signs of strength/ buying into the sell pressure on high volume Break below support (red box in this example) low volume Test of resistance (in this example previous support and VWAP) returns low sell pressure No-supply test at VWAP (circled) Maybe termed a "fall through the ice" in the Wyckoff methodology. Fairly textbook accumulation schematic with a bullish pennant in the area of the LPS/TSO. Volume is key. Training* “Patience is key to success not speed. Time is a cunning speculators best friend if he uses it right” Jesse Livermore Sources of education: Tom Williams Volume spread analysis VSA/ Master the Markets Richard Wyckoff Pete Faders VSA* Read the ticker dot com Dee Nixon BTC trading challenge price action/volume techniques Good luck
COINBASE:BTCUSDEducation
by dee718
1
Golden pocket and MACD golden crossover?Hello all, welcome back to the Sunday market update! Beside the sideways moves during the movement of last week, here it comes again the interesting in the crypto market. Patience is the key before you jump in the market for now. Let's do this technical analysis about bitcoin. Like what I've shared on the previous analysis of the bitcoin, $8500 is moving align with the golden pocket zone and the $8000 is moving align with the .786 fib levels and both levels obviously are a major support that must be respected so far. The $8000 is a huge psychological zone for bitcoin, Huge price action activity has occured in this level which is great! Knowing that current price is moving just near the golden pocket zone as a great support, we must realize that the moving average line on MACD is having a big probability to do a golden crossover on 4 hours chart. The RSI has shown us a bullish divergence with lower low on price action but higher low on RSI. This is a perfect set up for long opportunity. I will open a long position if the price claims back the $8700 as the shadow support respected and of course when the golden crossover occur on the MACD dynamic line. Patience is the key, waiting will keep you on the track.
BITFINEX:BTCUSDEducation
by junosats