Possibly, the price has printed a bullish chart pattern called Double Bottom on the $7,500.
Possibly? Because the pattern gets triggered after the neckline break. Currently, the neckline is around $7,860 and if the 1H candle gets a close above the neckline then the chart pattern is valid. At the moment when I write this, the price is above the neckline BUT we need...
Wait for a breakout from the bullish chart pattern called Falling Wedge.
At least 1H candle has to close above the upper trendline. The bounce came from pretty nice crossing area:
- Fibonacci golden ratio
- Old support level (red line)
- Trendline (blue)
- Pattern bottom trendline
The trade should be triggered after the breakout, at least 1H...
The Bitcoin price has pushed the new Lower Low (LL) a bit lower into my mentioned (last idea post) support area at $7,500. The bounce has occurred, as slightly expected, and here we can start to see some interesting similarities compared with the movements on the top.
Usually, I don't like to search those similarities but currently, they start to match perfectly...
Several rejections from the orange lines which have printed some bearish candlestick pattern:
- Evening Star
- Gravestone Doji (Shooting Star)
- Railway Tracks
All those have formed in the 4H chart and all those have formed around a pretty strong price level: multiple Monthly lows and Monthly highs have been in the orange area.
A great bearish price action but...
The market has started a slight correction, a lot of altcoins and BTC has made some breakouts downwards.
I would like to point out some areas from Litecoin chart, firstly a possible short-term(!!) bounce area around the $90. It has worked several times as a resistance and as a support level. Currently, it should start to work as a support and this area has...
Firstly, the BTC has to start a downwards correction and secondly, the ETH Daily candle has to close below the black trendline which will be a confirmation for further movements downwards.
At the moment, yesterday's candle made a breakout from the bearish chart pattern called Rising Wedge (thin dotted lines, pulled from the bodies) and this could be the first...
The price has made a first Lower Low (LL) since February 2019!
Yes, this constant growing without any significant lower lows has been going on for so long.
I hope that you saw my yesterday's post where I warned you that this may occur. The first sign was a Lower High (LH) and the final warning came after the 1H candle got a close below the trendline. This...
Blue box/buy box criteria:
1. ABC Equal waves point C
2. Fibonacci retracement 38%
3. Previously worked support
4. Channel projection
5. Fibonacci Extension 127%
6. Round number 1.70000
7*. 4H EMA200 just below the box (1.69817)
8*. 2012 High below the support (1.69739)
9. To be more secure and if the price falls lower than the marked box then wait for bullish...
The last Weekly candle close gave us a bearish candlestick pattern called Dragonfly Doji. The mentioned candlestick pattern itself is not the greatest bearish candlestick pattern but if the price starts falling or it makes breakout from certain patterns or levels then it can be a good further indication.
Considering the last bounce from $8,300 then my last idea...
I have got a lot of request about EURUSD so, I would like to point out some areas where the price can make some more expected short-term movements.
Firstly, the price has been on a short-term ranging range. It has drifted between 1.11 and 1.12 but in overall, the mid-term or even long-term trend is downwards so, currently, more favorable are the sell...
After the pump from $8,000 to $8,900 the Bitcoin price has stayed stable and it has started to move slightly downwards. The downwards movement has drawn some confirmed highs and lows and we can start to identify some good levels for further bounces/breakouts. Without a big talk, we start right away!
The bounce area at $8,250 - $8,430 (blue box)
As you see, the...
At the moment, the Bitcoin price and the altcoins have started to make a slight correction. Altcoins correction depends highly from BTC but just in case let's prepare for technically good entry areas and currently, let's look where it can be on the Bitcoin Cash chart.
BCH has started to form a bearish chart pattern called Rising Wedge. If the price and if the...
- We have a trendline break on the 4H chart with a very strong and powerful candle.
- Short-term lower lows and lower highs
- Previous support level starting to work as a resistance
- Previously worked trendline starts to work after the powerful break below as resistance and it should be a classical retest situation.
- EMA 100 and 200 have a Death Cross on the 4H...
The Bitcoin price has moved higher from the well-known price level of $8,000. $8k offered pretty good trading opportunities:
- We caught a correction from 8k to 6,7k (candlestick pattern indications on the strong resistance levels)
- We caught a breakout from the triangle and currently, the price has stopped around $8,800
The price has stopped just below the...
Here are 10 reasons why you should consider to buy Bitcoin right now and why I think that a possible next leg upwards is waiting just around the corner.
1. Yesterday's candle close was above the $8,000 above the psychological number - $8,000 is a round number and it should act as a resistance level but the price manages to close above of it.
On the Daily timeframe, the price has drawn a bullish continuation pattern called Falling Wedge.
The continuation pattern is valid and active after the breakout. So, wait for a breakout confirmation on the Daily chart and the wait until the Daily candle gets a close above the pattern upper trendline.
The target is pretty high, probably you should considering take...
Wait for bearish candlestick patterns on the Daily chart to be more secure.
Counter trend trade = a bit riskier!
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Have a nice day,
The time goes by and the price draws us multiple patterns but none of them have made breakouts which can make those active/activated.
Over the night BTC price made a bigger descend comparing the last few days volume. It stopped on the previously worked support level exactly on the $7,600. Currently, this level has held us several hours and let's see do this level...