About meNothing written about should be construed, perceived or accepted as financial advice. This is not written in advocacy of any personal finance strategies. Your decisions are your own and the author assumes zero liability for the outcome of the charts shar
Is it the end of Bulls Party or they are just getting ready for another ballistic move?
I am bull till yellow bowl is respected else the bear in me will get back from hibernation!
If you are new to crypto trading then here is a small pro tip
Long above the red line
Sell on rejection of yellow bowl!
Everything in between is a trap for you.
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Gold must have got the attention of all the buyers who missed out on initial bull run but according to me current breakout looks more of a distribution move and should result into lot many disappointed bulls in coming weeks.
Avoid taking longs unless you have a strong reason to do the same.
Ada is looking good for now and i will recommend to open a long in it once it breaks out.
Make sure you use trailing stoploss and book profits as per your RR strategy.
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Bitcoin has been printing similar pattern and the price action looks more like distribution.
Is it an indication for imminent dump?
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Gold is currently in no trade zone and new trades should be initiated as per the levels marked in the chart.
Have explained all the levels and if you still have any doubts then feel free to dm me.
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Bitcoin has been consolidating within a range with few liquidity testing moves , I have spotted a possible double bottom on daily time frame and would like to see its failure before i will open any short.
The above chart also aligns with my previous analysis of bitcoin and for now i will avoid to take any positional short in the given scenario.
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BTC made two failed attempts to breakout but failed , yet both the attempts were looked quite impressive and i believe until BTC respects 11008 level we have a very strong likely hood that btc will breakout to test targets 12750 and beyond.
If you are a bull then long every dip with sl below 11008 and if you are bear then short on breakout from...
ETH has been consolidating in the given range and is looking good to make a decisive move in coming days.
If Eth manages to hold the shaded green area then i expect a breakout with possible test of targets marked on chart.
Bitcoin is printing bullish Adam and Eve structure (&double bottom) .
Ideally btc should be making another bullish move in coming days.
The problem with this structure is that the volume is not supportive of this move.
Unless BTC does not closes above the yellow line i expect some liquidation and will be placing my buy orders on these levels.
ADAUSD is looking good for a bullish breakout.
Wait for the candle to close above the shaded area and open a trade with green lines as targets.
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All the best!
Next stop 12238.
As per classical charting it is believed that ideally every breakout is followed by retest of its breakout zone.
If you look at the above chart you will realize that bitcoin have actually given a bullish breakout from a very strong channel and it would make sense to actually open a long from levels close to breakout zone rather then shorting it...