First time publishing a trade.
Bitcoin will bounce in the 10,580 area due to converging support of the set-up trend line, the 200 period MA, and the .382 fib.
If previous resistance is broken, the price should reach around 11.2K at the .618 fib.
BTC has been been consolidating in a defined range for quite some time now, giving top 10 alts some breathing room and prep time for a leg up. Reviewing XMR/BTC daily and 240m charts, we spotted a worthwhile trade that we're sharing with our followers now.
Breakout from the horizontal range dating back to 2nd August, followed by a quick retest means the chances...
We are looking at an interesting triangular formation in BTCUSDT (DAILY) with support line validating back to May '19.
Below are some interesting observations that we'd like to share with our followers:
- Dual support coming in from 100EMA (Daily) and a validated up-trending line.
- Price consolidating in the Triangle means BTC could possibly be targeting...
BNB/USDT is finally reaching our desired accumulation zone, offering an exceptionally good risk to reward ratio at this point.
- Up-trending slope (1) has been working flawlessly since Mar '19, and we certainly expect some bounce from it at this point.
- Some of our followers may be doubtful about this trade looking at the Negative crossover...
We have been following this BITCOIN log chart since Dec '18 and it never disappointed us. BTC has been in a mega bull channel since Mid 2013, and looking at it with past halvings marked makes even more sense.
Cut to the chase, 10EMA on weekly is intact, next halving isn't far away relatively, and lower slope has further validated itself since Feb '19 spike....
XRP might just be the best Blockchain project fundamentally, but the price action suggests otherwise. During our weekly Long term chart analysis, we reached the conclusion that BTC might just outperform XRP by leaps and bounds and we certainly don't leave our followers in the dark. Below are some worrying observations that we made looking at XRPBTC Weekly chart:...
Low time frame consolidation is attempting to break to the downside. Looking at the potential right shoulder formation of a h4 H&S. Targeting known support and an area of intraday liquidity / previous established support that created an impulse (partial profit levels). I got in on wick highs of consolidation.
SPWR had a huge bull breakout of a failed wedge bear flag. When a wedge fails there is often a measured move based on the height of the wedge. Prices are also testing above the top of the bear breakout and sell climax of August 2016. However prices are still within a large trading range (always look left!). This increases the likelihood of heavy two sided...
Looking at Price Action in the 1 hour time frame shows us detailed levels of price action. We have a Seller Bias as we are in a Bearish Market, i'd be interested in entering this pair because price broke below a previous structure and looks to be heading lower, breaking this ascending trend line. I'd be looking for Price Action Confirmation such as Bearish Pin...
We are always looking for sound trade setups, and our followers are the first ones to know when we find something worthwhile.
Today it's BCHABC that we're looking at. Once known for its notorious reputation of wicks & tails and giving BITCOIN a run for its money, the coin has been hibernating for quite some time now. However, that certainly does not mean that...
Apologies for the inactivity,
New Thesis on BTC, points to consider;
- BTC bounced from previous support zone at approximately $9000
- Running into resistance zone at approximately $10800 - $11000
- EMA's crossing over bullish, but this is insignificant considering all other bearish indicators
- Stoch topping out, downwards momentum in play
Thesis on BNBUSDT, flex zone approaching, equilibrium playing out...
Points to consider
- Overall daily trend is bullish
- Stoch is neutral
- RSI neutral
- Equilibrium is playing out on the 240 time frame, a breakout any direction is possible
- Volume declining, signalling a breakout
- Fib retracement to .618 acted as support, right now...
Hello all - DuncanForex here with another trade idea
Although against the prevailing trend, NZDUSD has broken out from it's down trend.
It is currently at support where previously a head and shoulder pattern was created.
Based on this price action, I expect it to head higher to previous resistance.
I will be watching it closely and trailing my stops, however...
The 200 Periods Moving Average is undeniably one of the most significant averages that one could follow. We at Bitbloxx made an interesting observation on BTC/USD Weekly (Bitstamp) chart, i,e. near perfect double test of 200MA on the weekly chart. Now we also noticed a similar test around the foothills (June & Aug 2015) of the mega Parabolic curve that ended in...