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What will happen to Bitcoinlets see how long bears can go :) For having more precise analysis, We need to check Total crypto market cap too. I'm using BTC/USDT Binance chart because i believe Binance is most effective crypto exchange. Okay let's go As you can see we have triple top pattern in Bitcoin and the neckline has been broken, Also we know that pattern like triple top usually happens at the end of the trend. We have a downtrend and because of the pattern, We know how long can this downtrend continue. Let's see when the downtrend will finish To do that we need to find out Price return zones(support zones), In order to do that i use Fib retracements and Price movements(highs,lows and ...) I used two waves for fibonacci retracement first one from around 9.6k to 64.9k(from bottom A to top3) and for second wave i used initial big pump wave which is from almost 21k to 64.9k(from Bottom B to top3) Combination of Price movements and these Fib's give us important zones which are all visible in the chart and you can see them. Let's have a quick check on Total crypto market cap The chart bigger movement is still in the ascending trend but in short term we are experiencing a downtrend. I found important returning zones just like how i found them in Bitcoin chart Conclusions: 1-We need to wait for both Bitcoin and Total cap return from one of those zones. 2-Bitcoin is retracing and after finishing the retrace we can expect continuing the ascending trend(Another impulsive wave). 3-Bitcoin and Total crypto cap have correlations and based on Btc dominance most of the Total cap is in the Bitcoin so when the Total cap rises we can expect Bitcoin to rise. 4-Bitcoin and Total cap bigger trends are ascending. 5-Bouncing back from those zones can be a long opportunity.(always wait for multiple confirmations) Tips: 1-This is not financial advice and you need to do your own analysis. 2-Money management is the key and always use proper position sizing. 3-Feel free to comment what you think and check my analysis precisely so zoom in, move the candles and ... . Thanks for your time
CRYPTOCAP:TOTAL
by KiomarsRakei
1
ES1! Trade zones and next best trade ideas 4/20These zones were created by combining several indicators, as well as Fibonacci and volume profiles. I started by laying out 2-3 point spread rectangles on high volume nodes on the volume profile , and then refined those zones based on previous consolidations. I then added overnight/intraday ranges levels, highs and lows. I mapped out auto-fib retracement levels (as well as reversed auto-fib levels), and 1hr woody pivots on a 1hr timeframe. I switched to standard pivots and mapped those as well. With all of these levels marked, I looked for areas where they were grouped and further refined the rectangles. I also noted where the 34/50 ema cloud was in relation to the zones.
CME_MINI:ES1!
by jjashcraft
GBPUSD, 8hr tf, double bottom pattern mirrorring XAUUSDHello my friends, Another trade ideas for today is GBPUSD pair. As you can see GBPUSD chart looks exactly like XAUUSD. XAUUSD has rallied for 750 pips in the last 2 weeks after hitting 1680 area twice. I still think we could see further rally in XAUSD as the measured objective of XAUUSD pattern is around 1830. In my opinion, we could see the same movement in GBPUSD and it is very worth to try buying it as well. We might see double bottom at GBPUSD as well after price touching 1.3670 area for the second time. The measured objective of GBPUSD double bottom should be at 1.4160-70 area Buy GBPUSD 1.3720 Stop loss 1.3650 Take profit 1 at 1.3990 (3.8R) Take profit 2 at 1.4160 (6.2R) Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2
MXC in a channel, about to break out?Hi. In this chart I've plotted one resistance line and one support line, both quite short term. With these two I've also plotted two more long term zones: One wide diagonal support zone that has played out since April 2020. Its very strong and if broken could be a strong indicator of a trend turn. One tall resistance zone that while not very strong could still indicate roughly the height that the price could go if it goes sharply bullish in the near future. With this I've also included an MA 56 to reinforce the strength of the support zone as the MA has danced along it for a long time. I've also included a MACD to assist in any predictions regarding impending price movement. To me it indicates an impending short term bull run, as it could be about to cross the 0 line. In conclusion: MXC is still in a strong bull run and has been for a year. There are no signs that a trend reversal is impending and with the recent price spikes I would conclude that the price wants to rise above the resistance zone plotted and MXC could be a solid investment for long term investors with perhaps the only downside being a longer ROI. For short term investors the impending resistance zone break could be a nice spike to go long on, as plotted with price points. Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you. This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
AMEX:MXCLong
by Kabeldon
BTCUSD - the hysterical wave.Observing how Bitcoin has been moving for the last few months, I regret I wasn't a bit more careful with it and see that it's all an Elliott Wave , so, how does that work? In this pattern, Waves 1, 3, 5 are motive, meaning they go along with the overall trend, while Waves 2 and 4 are corrective. Here is a short description of what happens during each wave. Wave 1 Bitcoin makes its initial move upwards. This is usually caused by a relatively small number of people that all of the sudden (for a variety of reasons, real or imagined) feel that the price of BTC is cheap so it’s a perfect time to buy. This causes the price to rise. Wave 2 At this point, enough people who were in the original wave consider BTC overvalued and take profits. This causes BTC to go down. However, BTC will not make it to its previous lows before BTC is considered a bargain again. Wave 3 This is usually the longest and strongest wave. BTC has caught the attention of the mass public. More people find out about BTC and want to buy it. This causes BTC's price to go higher and higher. This wave usually exceeds the high created at the end of wave 1. Wave 4 Traders take profits because BTC is considered expensive again. This wave tends to be weak because there are usually more people that are still bullish on BTC and are waiting to “buy on the dips.” Wave 5 This is the point that most people get on BTC and is most driven by hysteria. Traders and investors start coming up with ridiculous reasons to buy bitcoin and try to choke you when you disagree with them. This is when it becomes the most overpriced.
COINBASE:BTCUSDLong
by BullishOmar
4
BTCUSD - the hysterical wave.Observing how Bitcoin has been moving for the last few months, I regret I wasn't a bit more careful with it and see that it's all an Elliott Wave, so, how does that work? In this pattern, Waves 1, 3, 5 are motive, meaning they go along with the overall trend, while Waves 2 and 4 are corrective. Here is a short description of what happens during each wave. Wave 1 Bitcoin makes its initial move upwards. This is usually caused by a relatively small number of people that all of the sudden (for a variety of reasons, real or imagined) feel that the price of BTC is cheap so it’s a perfect time to buy. This causes the price to rise. Wave 2 At this point, enough people who were in the original wave consider BTC overvalued and take profits. This causes BTC to go down. However, BTC will not make it to its previous lows before BTC is considered a bargain again. Wave 3 This is usually the longest and strongest wave. BTC has caught the attention of the mass public. More people find out about BTC and want to buy it. This causes BTC's price to go higher and higher. This wave usually exceeds the high created at the end of wave 1. Wave 4 Traders take profits because BTC is considered expensive again. This wave tends to be weak because there are usually more people that are still bullish on BTC and are waiting to “buy on the dips.” Wave 5 This is the point that most people get on BTC and is most driven by hysteria. Traders and investors start coming up with ridiculous reasons to buy bitcoin and try to choke you when you disagree with them. This is when it becomes the most overpriced.
COINBASE:BTCUSDLong
by BullishOmar
AUDUSD - long move (shorter term)Quick and simple long move here up into the zone. A lot of other reasons for the move, including retail sentiment and overall COT bias. Shorter timeframe than we usually trade these moves. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
2
USDCHF is on the phone with the bears.The Dollar started rising against the Franc and it just started a new trend, because it's brand new and it's still creating it's support and resistence lines we have a great opportunity to trade those level zones. As we can see from our chart, the Dollar is about to hit an important level, tested many times in the past which makes it a strong one , and price action tells us that it should retrace back to around 0.90500. Stay tuned for more Ideas on Forex and Crypto's from an Insider.
Short
by BullishOmar
USDCHF is on the phone with the bears. The Dollar started rising against the Franc and it just started a new trend, because it's brand new and it's still creating it's support and resistence lines we have a great opportunity to trade those level zones. As we can see from our chart, the Dollar is about to hit an important level, tested many times in the past which makes it a strong one , and price action tells us that it should retrace back to around 0.90500. Stay tuned for more Ideas on Forex and Crypto's from an Insider.
Short
by BullishOmar