Good afternoon traders,
Looking for a short term pullback over the next 24 hours (by 6am - EST) to the target $50,888.
Why $50,888?
It's the area in which price action broke above the rising wedge's neckline (s/r flip) from resistance into support, and in terms of structural fundamentals this level will be tapped before heading to the previously discussed...
Good afternoon traders,
I've posted the bullish scenario, now I'm posting both for the upside and downside.
Why?
I'm a trader, and traders prepare for both sides of the market because the reality is both sides get action every single day.
Good afternoon traders,
Just thought I'd post this last chart with the community before the daily close in just under 3 hours and then later this evening when Asia wakes up, and usually sells off (or during the night time for EST)
Will update part a, b, and c once this 5th wave is complete as certain levels have to hold for this scenario to be met and at this...
Good afternoon traders,
#1: Falling wedge pattern formation:
#2: Rising wedge pattern formation:
Takeaways: The long dotted line that connects both the falling wedge AND rising wedge is am area of interest and the TA proves/validates that statement.
Summary: Previous ATH ($42,222), which was once resistance now becomes support (s/r flip), to either validate...
Good afternoon traders,
While bitcoin has been overly bullish Q1 2021 it's possible, even likely in terms of probabilities that we retest the zone (demand) where price initiated a breakout which eventually surpassed the previous all time high at $42,000. $42,000 is likely the new support (s/r flip) which used to be resistance for the time we had ranging /...
Good afternoon traders,
If this move happened on ANY other day than the weekend I'd be over the top bullish and suggest $50,000 is about to break HOWEVER funding is currently 0.3750 (this means shorts are being paid and a high amount, which also means people are fomo'ing into this move PLUS its a Sunday so I'm expecting some downside to shake out the weak hands....
I'm looking for a slight pull back into the ltf liquidity zone (demand zone) where I'm guessing if that level holds we'll breakout to the upside, otherwise if this doesn't happen we can talk about further lower targets, but for now $46,777 is my target for this bearish scalp, and where i'll do a very low leverage long.
If all goes well I'm looking for $55,500...
As you can see there is a bearish divergence on the RSI. Not only that the price seems to be exhausted and if btc breaks 35k support it’ll head down to 18k then to 12-13k for exit. There is no guarantees but this is my idea. Buy and sell or trade at your own risk.
Good morning traders,
Yes we did breakout above the descending triangle or falling wedge (whatever your bias/edge was) it's still likely in terms of weekend price action probabilities that this dotted line which is currently holding up the market at the moment does in fact break to the downside and cause a lot of fear over the weekend probably to just end up...
In my previous LTC post I argued that LTC is currently residing in a bearish triangle. Also, LTC failed to pierce through the upper triangle resistance, producing a double top pattern. Two strong bearish chart patterns in a row.
This trade is based on the premise that LTC will fall back to the triangle support area around $120. Do your own due diligence.
Happy trading!
As we can see, the price has reached the bottom of a tested and tried support zone, we are seeing a loss in momentum of the downtrend move and on market cipher on the 4HR there is a buy signal formed.
On the other hand if we see a break of this support zone it will do one of 2 things, Wik out and therefore reject the support zone or it will close below this...
We now have a bigger h&s with a more traditional horizontal neckline in play that if we were to trigger has a breakdown target around the mid 16,000s. Of course we must await confirmation...but this could potentially trigger a very deep correction....one item of bearish onfluence is there is a me futures gap around this range so a correction this deep is not...
First Thing First: This analysis is for “general overview only” as it is solely based on price action. That’s why it is called momentum analysis in the first place. Support/Resistant, Volume Macro view nor any other factors are not used during write up. Refer to the individual pair analysis for a more comprehensive write up.
XXX/USD: Very Bullish
Gold & Silver:...
It appears that a large portion of holders have taken profits at 40K. The resulting price drop has managed to find liquidity to rebound, yet this rebound has failed to produce a momentum that can reach new ATH. BTC is now showing an hourly bearish flag and is likely to test lower with a very volatile panic slide.
BTC crossed the 100 day Bollinger (4 Std Dev) at...
