Trend lines can be used to identify and confirm trends. A trend line connects at least 2 price points on a chart and is usually extended forward to identify sloped areas of support and resistance. Lines with a positive slope that support price action show that net-demand is increasing. As long as the price action stays above this line, we have a bullish trend. Lines with a negative slope that act as resistance to the price action show that net-supply is increasing. As long as the price action stays under this line, we have a bearish trend.
Price usually retests a sloped trend line several times, until it breaks at which point we may have a trend reversal. The more points there are to connect, the stronger a trend line becomes. Different strategies have different rules on how far apart connected price points can be and whether to connect wicks or candle bodies, but all trend lines break eventually. TradingView has a smart drawing tool that allows users to visually identify trend lines on a chart. This tool can also be used to illustrate trends on indicators.
My optimistic prediction of $BTC short-term future and hitting the final bottom. The bottom could be around $1800, the final 5th leg down, before another bull run starts. Getting ready my buy positions around 2500 and below. The alt coins most will likely follow.
I expect to see a dump before 6K. 5650-5800 will be the top IMO (Bitfinex), Rising Wedge is a Big Bearish sign.
This will led to 4550 or maybe 42000.
I think 4200 would be healthier because if the Support hold maybe it'll be the new bottom and if it crash we are going to retest the Last Bottom and this will confirm it.
After that We are going to somewhere like...
Hi everyone.
Btc Dominance is in the big triangle pattern.
But the dominance breaks the big pattern.
What does it mean?
It means btc will increase and altcoins will lose their value.
Be careful!
Analysis:
1. Fibbonachi retested. (61% - 78.6%)
2. Shooting star 4H.
3. Three pin bar at 4H.
4. 1H a big bearish engulfing.
5. Elliot wave is about to make the last push.
6. Trendline is downside.
7. Daily EMA are still in continuation to downside
Hello Traders,
Looking at the 2015 crash and comparing it to this crash there are a lot of similarities, particularly with the 50MA (Purple) and 200MA (RED).
I have copied the fractal from the end of the 2015 crash and put it on this chart to try and plot Bitcoins course. This isn't perfect as the duration of parts of the 2015 crash are slightly different to...
The RSI indicator on the daily time-frame for USDCHF is showing way overbought. A bullish wedge has been forming since November 2017 and it looks like the top of the wedge was broken.
One of two things could happen, price goes back for a re-test and bounces off the wedges upper level to rise up after the major resistance level around 1.0300-1.03250 or price pulls...
Hello all
I missed the initial surge out of the down trend, however now it has cycled lower again towards support (which was previously resistance)
I am now looking to enter long,
I will be taking two entries, one at 3 : 1 now and the other will be a long term trade up to 1.8700 area, on the first cycle higher
This could play out to be a great trade, however...
If NASDAQ:GPOR escapes $7.20 & green area, then it could be a good place to long for upcoming earnings on May 2nd.
Past two earnings reports have been ~60% beat, that doesn't mean this time will be the same but I'd wager there's money to be made from long positions.
Negative side: weakening natural gas outlook by most analysts.
Thanks for visiting.
MSFT shows the classic candlestick patterns of a major buyback underway. The intent of buybacks is to increase the price of the stock and reduce the number of outstanding shares in order to improve the EPS. Corporations generally use the bank of record to do the actual buying of the shares of stock. These are usually done via Price and Volume weighted orders which...
I am running loss in my account at the moment. I went out for an hour or two outside for grocery. And, Bitcoin turned against me. Or did it?
If the price stays above the bottom red line, the price may rise towards the initial target as shown and final target of 6000+
If price breaks the above green line, then yes the bullish rise up is back
As long as the price...
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