In last post we noticed and evaluated some bearish signs in #BTC. afterward price broke the 51500 resistance but couldn't hold itself above it and then crashed (I believe that was a big trap just like when #BTC broke below 30K!).
Right now we are in a crucial zone!!! WHY?
Price had been caught between 2 support zones (46500 & 44500) for a few days...
Important things to note:
A bullish trend is confirmed after 2 higher highs and 2 higher lows
A bearish trend is confirmed after 2 lower highs and 2 lower lows
Price movements must retrace between 30%-60% to be considered
Any retracement outside of that range will be ignored
A trend is considered "in play" until the confirmation of an opposite trend.
Possible good short idea with a break below the box $189/188 zone. I like the R/R on the short side with a volume pocket indicating a possible free fall to $180 .... Juicy
Bulls have been defending this spot however and could also move back up towards top of the box. Watch for a break to the upside to go long. Short side invalidated if box holds.
Cup and handle.
Clear monthly closes with higher lows.
Once the resistance is completely broken at the .55 zone, following are the targets:
Retest .90 zone
Final monthly wick 3.50+ zone
Plain and simple.
Who's holding this baby?
This is not investment or trading advice. You must be knowledgeable and conscious of your own...
$UPS is definitely pointing in the right direction. With the Roadie Acquisition complete UPS just opened up the door for more jobs to be available to the public through the Roadie delivery app. Just a quick story about the app, this is not promotion in anyway just information. So during the beginning of the pandemic when the app was launched, or when I think the...
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...
Look at August-September 2020. Looks quite similar and would please both bulls and bears. We are currently retesting the distribution and I am bearish. I would not long here and the RR for longs is quite nonexistential.