Bitcoin current situation is promising, the fact that bitcoin price dropped to 30k area and found a good support is showing the market is not just yet to dip. personally I believe we are going for a 50k area if
1. Market continues the bullish runs by maintaining HLs at 4H.
2. We don't see any sudden news or a breakout of our trendline and support zone at...
Market has shown sellers rejection on our drawn support area, same support zone as the 8th January. We can see a long wick and probably a bullish engulfing, moreover the market didn't close any candle below the 1h support, which is indicating the buyers coming in.
15m formed a double bottom with multiple bullish engulfing, a breakout of either side could lead to...
4H - Movement within the flag pattern with several bearish engulfing along the way. now market seems to be finding the resistance on 4h to move to another Low.
15m clearly have sellers taking over and once market find a resistance level and reject will take a short.
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BTC is still rising and the momentum on our higher time frames are nothing but in favor of the buyers for now.
1H is also ranging in a triangle and will be more squeezed before a breakout, Most probably we have market push down to our support at least one more time and if the support holds the price we could see bullish elements before market moving to a new...
At the first glance 4H looks like it is ready to break the 4H resistance level but when we move to 1H, our another key time frame, we notice the major resistance ETH market have for the past 4 to 5 days. Rejecting multiple times.
What is our scenarios at the current market?
1. Market could break the 1H and lead to massive buyers entering the market and could go...
Currently, if market closes another bearish engulfing on 1H could mean a rejection at the current resistance and see some sellers entering the market,
But Market momentum is quite massive on all Higher Time Frames (WEEKLY, DAILY, 4H) so i don't think anytime soon market could find any massive bearish move.
Expect a move from HH to HL based on market current...
4H is expected to stay between our zone at least until the end of the year, since there won't be much news on Bitcoin this week until 31st.
However, even if we have a breakout, it could be a fake breakout so staying out of any trade would make sense.
Personally I see Bitcoin more bullish even toward breaking the 25k and 26k because the market is still on a Heavy...
Hope everyone had a great weekend
USDCAD looks promising for this week.
Daily finally showing signs of a LL to LH movement, 50% retracement is expected.
4H breakout of the trendline and moving to a possible HH.
1H currently on a good Resistance Level but it is also a new HigherHigh, once we have market movement to HL on both 1H or 30m then we look for a Buy setup.
Daily is currently at a major Support level, Forming a LOWER LOW, Main goal is to find a possible run from our LL to LOWERHIGH.
Depending on 4H movement, once market breakout of ranging zones, either to the Upside (Our target) or the down side, Afterwards, we decide on our entry.
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Daily last candle was a Doji, however, if the next candle closes out side of our trendline would be considered a Breakout.
4H- market break the downtrend structure and now going from HH to HL. once market find the HL then we take a buy.
But remember, End of the year holiday is upon us and soon banks and institutions could take out their investment on majority...
Daily move to support area is my aim to catch. Daily closed with a bearish engulfing and since then there are sellers entering the market.
4H - Head and Shoulder - Market is at a support zone which is why I am keeping an eye on this timeframe which could go against our Trade but...
But looking at 1H we can see that market is on a bearish run and rejected the...
30m already broke structure and formed the first HH, which we have been waiting since last week for it.
Trade on a short term and long term are bullish but there are technical points we must consider that might go against our trade, 1- 4H previous sellers momenutm is quite heavy so this countertrend is risky (that is why we set our SL at more than 70 pips) 2. we...
Took a short on USDCAD.
SL above the TrendLine, with 3:1 Ratio.
Main reason taking a trade is the massive momentum market has on Daily and 4H.
Will update on any changes.
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Always keep in mind to trade at your own risk and don't risk more than 2%, maximum 3% if you are 100% confident on your position. Risk an amount that...
Still early to decide the actual long term run based on 2H Time Frame.
Although we do have a major reaction to the zone on 2H and market has been rejecting our zone @1.21700 on Hours Time frames But we shouldn't rush into a decision just yet, Why?
if we go to our Daily time frame, will witness market massive bullish run since start of November, therefore it could...
Overall view, Bearish.
Looking at Weekly, Daily and 4H, all our Higher Time Frame (HTF) are forming an LH, for now.
Keeping an eye on this major resistance levels. Once we see more Bearish elements and rejections on HTF then will update an analysis here on Lower Time Frame (LTF) and look for an Sell setup.
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Overall view is Bullish on a long term Basis.
Weekly is bullish and so is 4H, But Daily preventing us to take a buy yet.
Weekly closing the last candle with a bullish engulfing confirming the sign of buyers entering.
Daily structure is yet against our weekly bias since we are at LH but daily haven't build of any bearish signs for now which is good for our...
At the current move, the buyers do have a good momentum to break the current zone and move to the WEEKLY KEY_LEVEL.
Similar situation happened on 30th November and market rejected at the Weekly KEY-Level. I will look for a Short once market reach the WEEKLY KEY-LEVEL.
Once market reject the WEEKLY Key-Level, I expect to TP around 16000 Price level.