Following generally three successive price swings down, the price may test the newly formed bottom several times, by making mini candlesticks on the area instead of going up.
If the price will reverse bullish, increased buying pressure will occur, signaling the setup of the trade with a medium-sized green candlestick.
After finding appropriate RSI and MACD entry points, traders benefit from analyzing key candlestick formations.
Below are the candlestick reversal formations detailed in this chart.
Two Black Gapping: appears after a notable top in an uptrend, with a gap down and two red bars.
It predicts lower lows with an accuracy of 68%.
Steps to Swing Trading:
1. Find a trend: uptrend in bull price action chart, or downtrend in bear price action chart.
2. Analyze the trend to find the best entry points on that trend. That means finding the HL higher low points in and bull market, and LH lower high points in a bear market. Look for HLs in a bull market, and LHs for a bear market.
3. Confirm the...
Support levels at $9950 stopped Bitcoin’s swift descent into shorts targeting the $8800 area. As this is currently a mid-term bear market, waiting for all the signals that a reversal is due is key to financial success.
RSI is at 30, a good buy.
However, a bearish MACD and bearish candle stick patterns may indicate further downward movement before we gain an...
Triangle formations always precede breakouts! It is best with cryptocurrency to look for triangles on 4hr or 1hr charts, though sometimes one can find them on 1 day charts.
Like a series of waves getting smaller and smaller until the shape is formed, triangles must have three complete waves to accurately precede a breakout.
Here you can see the three waves...
Strong Hammer Candle on the 1 Day Chart wins the bulls back for Bitcoin, overruling short-term technical weaknesses
Psychological barrier at 12k stands, while resistance at $12,444 is heavy.
Buys above $11,400 may be unsustainable short-term
Past consolidations have been longer in length and the market is more regulated now, and somewhat less volatile.
After a 30% correction, we see a reversal and continued market consolidation with Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
On the 4hr chart, several indicators point that we may be headed for a short-term bearish reversal which may be a good buy opportunity.
MACD is still below center line signaling further bearish movement.
Upon news that the Winklevoss twins’ wealth has risen to $1 Billion, the crypto market has suffered a 20% loss worldwide.
We were due for a healthy correction to this strong market, with Wall Street traders dying to short the crypto market.
Retail - or the poor/middle class people- got in at around the level the big money sold at.
Don’t fear. So far, we have...
I step into Whistle Stop Grocery and White Christmas is playing. “I’m dreaming of a white Christmas..." A whisper, "where all our dreams come true.” Satan wants an Almond Tulip (the most expensive breakfast treat) and I get a psychic call from my accountant who wants a blueberry muffin. The waiter is Alex, I’m an Alex...a mirror.
Lucifer tells me to get a peanut...