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GBP USD Setup - 23-08-2021Hi traders,
As per the 4hr chart GU is showing downward trend and the hourly chart is also indicating the same.
In the 30 Min chart price is in a retracement phase breaking the 23.6 retracement level, So we have marked the Golden zone.
Since the higher time frames are in an extension, we have marked the recent lows for a breakout trade.
We can also enter a scalping trades in between these zones based on trendline or SMA breaks in the lower TF.
Please ensure proper risk management.
Happy Trading....
Why we are at the bottom (if no big sell off by "weak hands") At 27026.1 we can see RSI dropping down with price dropping to 26563.5$.
That’s also level on the volume where it started to rise again.
27.12 is the day with higher volume where the price gets to a certain level and people started to sell because probably didn’t believe we could go higher.
3.September, the date where we get into oversold territory
11. December - People with insider info starting to buy? There is almost no volume, but strength is building.
16 December - More people with „insider info“ because volume started to rise
23 December was some news out? Or people get „Christmas gifts money“ where they spend it. Even more news. More shilling people hopping in.
22. Feb - first sign we could be at the top
More believers we could go higher.
14. April - people earned a lot, the strength was already falling
19 May - People realizing there can be bear market
I’m expecting just wicks. Late shorters to push price just with wicks into 26500k area, maybe (depends on the strength) to 22k.
I think in next week we will find a resolution if bulls have the strength and will, to buy at those levels (26.5k) if not we can visit more lows.
Have we found a new bullish uptrend?With EIP=1559 now successfully installed to all testnets we await the full launch of the London Fork to mainnet taking place at block 12,965,000 on August the 4th, this is long awaited update as it is part of a progressive move to POS and hence in my opinion it would be nice to see an uptrend from here, seeing the bounce today has given me hope we may have found a bullish uptrend, time will tell if I am correct, but there is nothing wrong with smoking a bit of hopium :-)
Bitcoin critical price levels / supportBitcoin has been in an uptrend on the past week, and is currently under pressure, backtesting a critical support level. It is at a critical decision point.
It is in the process of forming a head and shoulders pattern. A confirmation is needed, however. A break below the neckline would put the downside target at 21k, where it would meet other support zones including the 50 week EMA and volume profile resistance.
A break outside of the upper descending channel would put a price target of 41k.
Not to taken as financial advice, just for entertainment purposes only
Bitcoin is going down againHello, this is my first idea ever in trading view. I hope this idea is useful for you all.
As you can see, I draw a triangle and a square for the highest peak which was 36640 and lowest 32300. Most probably the candles will follow the triangle drop and it should not go outside the square area. In case it did it might raise again.
I hope you like my humble analysis.
thanks,
$FSLY Long CallsFSLY in history always does dumb ass-ending channel upwards followed with massive market moves. I'm going to go ahead and pick up $70c for 8/20.
Not financial advice. Do whatever you want. Also give me feedback!
BITCOIN BULLISH HEADING UP TO THE NEXT RESISTANCEBitcoin heading up to next important resistance point that is between 49k-51k. Here is why:
+ It will close the CME gaps at 49k
+ That is a 0.618 fibbonacci level of the movewave
+ We have strong momentum to the upside after long consolidation
+ Weekly candle really wants it ;)
+ Fear in the market will turn to the greed again, to rekt the emotional traders again
+ RSI bullish divergince
+ MACD picking up
So far my Buy Zone from my previous posted idea is right, Keep that level in mind! GL
UUUU update - Terrible time for shortsUpdating my chart as it seems to be followed by a few lately and has proven accurate since breakout in Nov..
We may see a quick (C) down to the confluence of support (Trend, Fib and MA) which would constitute a spike, though it may have enough buying buoyancy to be rather shallow.
Once correction is complete, this week will show the beginning of a W5 up to the $8 master resistance. It may get rejected there and correct up to 50% of the current 5 wave structure. That correction will be the LAST buying opportunity in UUUU/EFR






















