on a pound dollar we see very interesting trading setup.
on the hourly timeframe, there is a clear rising wedge pattern and we can contemplate
a false bullish breakout that recently occurred.
if we look left we will notice that 1.291 is a mystery level that the market has respected many times ...
great selling opportunity for us on a dollar swiss pair.
Market is in a clear downtrend and I was looking for entries to sell the market.
after reaching 0.972 we see a sharp pullback up until 0.985 level.
double top formation leaves us clues that bulls are exhausted and ...
The chart speaks for itself.
If the price goes through the MA200 and the strong demand zone, just short it to 800-1200$ support zone.
Until it happens, BTC could already be in its consolidation zone.
1. Descending wedge which generally break up.
2. We have a support area that's been holding for 10 months.
3. We got a divergence on both the MACD and the RSI.
4. Profit targets are on the chart.
We can either go long now or wait for the breakout and entre when we retest the resistance of the wedge.
The market entered an important zone of resistance, formed by important support levels in the past. It is also failing to break through the 180 MA, where it has been rejected many times during this recent downtrend. We have also formed a double top, with bearish divergence shown on the RSI. As soon as we break resistance at 6530 with force, it will be a good short ...
Price has closed below mirror level at the 1.14860-1.15000 region to finish off last week, & this could be a zone to watch price act as as new resistance for a move back to the downside as price has reversed from this zone many times in the past.
BTCUSD corrected 86% last time and is seemingly doing the same now. The next push lower towards the $2.7K area could be a decent opportunity to go long and hold for years. Can easily turn around here, but for now there is no haste from buyers.
This post is inspired by the questions I get on a daily basis and which I have answered in the same way for more than 1 year:
"I am stuck holding a coin and now I lost so much, what do I do?" / "I was all in a coin because I believed in it but now I lost so much, what do I do?"
"I entered a trade with because Legend Guru Master X said this coin will give me 300% ...
A little like Kumba S32 is looking week in a strong sector. The relative strength to the resources sector is rolling over. I previously looked at the structure as accumulation but this seems to have been an upthrust (UT) that met with supply (Increased volume on UT). The volatility to the downside has increased from 19 to 28 to 34%. The upward stride has been ...
more downside to go.
1 month of range would expect bigger movement.
this is just the start.
so long as price do not break above 0.896, we are safe.
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading ...
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