Let us have a closer look at the possible Double bottom pattern for Bitcoin -
How do I know that it could validate a bullish progression, a valid Set up?
The time favors the Bulls. The recent price move forming the double bottom has failed to show lower lows, in fact a slightly higher low has been formed, showing to us that bears are not serious...
The Top-down analyses of different time-frames helps to figure out false signals. The higher the time-frame, the less disturbance. In fact, combining the Quarterly along with the three-day is famous among financial institutions. So for Retail-traders it is good to know what the big guys are up to.
The previous big accumulation zone has been around 3000-5000 USD,...
The Quaterly Chart Set-up can be combined with the Three day chart where we are seeing a triangle break-down as a signal. The three hour or 30 minute would be suitable for an entry, which in this case is the retest of the breakout candles middle line and the turn-around from there. However, one might decide not to take the trade if there is a strong support...
Gold has shown some strength this year, breaking out of the Consolidation\Triangle after it bounced off the 50 MA on the Quarterly Chart.
However, an entry could be not so far ahead, if XAUUSD is in the mood to turn around here -
recently Gold has reached the first respective target, consisting of the halfway-target of the Triangles height. Combined with the...
There are many ways in which an individual can picture the market. In green, in red or orange, in black.
Every perception is unique and has its substantial value, even though the charts will picture something completely different.
It is not about being a bear- or a bull, since the market is always dynamic, thus neutral and neither bullish nor bullish. It has its...
When traders are using the weekly chart for their set-up they are often combining it with multiple time-frames.
In this case 4H time-frame to spot a signal and the 15 minute time-frame to enter the market.
The monthly traders are using the Monthly for the set-up, the daily for their signal and the 10 minute or 5 minute time-frame for the entry.
The Pitchfork-tool is one of a kind. It helps traders not only to determine the possible path the instrument can choose but moreover it can be very helpful in determining Hot-spot trading-zones.
Hot-spot trading-zones are areas where important horizontal- or trend-lines are meeting. A chart-pattern on or near these zones is a high-probability trading...
We can see a Bearish trading set-up on the weekly time-frame. The price has retested a valid resistance level and turned around by breaking the common center line.
This is just a set-up and has to be confirmed on the corresponding time-frames.
Oftentimes the the price will start to retest the powerful 50% line of the weekly candle before turning around. Also...
There are several criteria which have to be fulfilled to speak of a valid Butterfly pattern.
Firstly - XA is a retrace or rally after an up- or downtrend.
Secondly - B should retrace exactly 78.6 of X-A. (-that is in theory)
Furthermore the price-move from B to C is the same for each of the harmonic pattern. B-C should retrace 38.2-88.6 of A-B
Finally the last...
I have posted about dynamic trend-lines before and I recommend you to look into it if you have not yet (in the link below), it is a strong tool which can help us determine the next possible path by using trend-lines of the past price actions on the higher time-frames.
A nice head and shoulder chart-pattern has been formed around it, pointing towards the...
Here are two possible paths Bitcoin could take.
On the monthly chart we see a bearish Harami, usually forming at the end of an uptrend, indicating a possible reversal. However, the smaller the second candle the likelier the reversal.
We have crossed the middle line and are retesting it on the 1D time-frame and are retesting it. A consolidation here would make...
We can see that the candle of the last day has been very long and volatile. Because this is seen as kind of a distortion in the markets, there is a possibility that the price will retest the level of 50 percent or the target consisting of the height of the monthly charts triangle as shown in my last post.
We are using the 1M for the set-up, with the 1D...
If there is a continuation of the uptrend be determined if we see a higher high and a higher low.The higher high seems to be fixed, the common line on the daily chart is broken. What we will be expecting for a continuation will be a higher low, well above 9400.
We see on the corresponding lower timeframe, the 1H timeframe that there is a retest of...
Bitcoin has approached the monthly resistance zone in conjunction with a monthly horizontal key-level, namely the height of the body of last month.
Both are critical levels and a breakthrough will be necessary to keep the bullish double bottom formation up.
Difficult to say how the outcome will be, but it will determine where Bitcoin will go.
I wish you all...
We can see that the three waves have completed and deduct from the structure of the first wave the possible targets for the correctional move. 50-60 % are expected.
All the best in your trading
Please visit 24elliottwaves.com , dayprotraders.com, stochastic-macd.com and 24stocktrader on youtube for free and excellent content.
Ravencoin is approaching its respective target zone.
I wish you all the best in your trading!
if you would like to know about technical analyses please visit 24elliottwaves.com, dayprotraders.com and 24 stocktrader on youtube for excellent content.