Price has spent the last 3 weeks stalled at the 2021 Open resistance at around 28K
If price continues to be capped by this resistance level, I'll be looking for a higher low above the 2017 High support at around 20K (green forecast).
If price establishes a close below the 20K support, I expect that will open a move down to the 2023 Open...
Bitcoin is approaching the 2022 open
The 2021 open was a significant price point all year
Will we see the same in 2022?
Price above the yearly open may indicate more gains in Q1
A failure to rally and close above the yearly open is bearish
The 40K/41K area has been an important price several times over the past two years.
Failure to break and close above the 41K area highlighted may suggest price will continue to see declines in February.
A break above 41K and a close there may indicate that February will bring about more price gains
Follow along as I trade a $10,000 paper trading account on TradingView.
I'll be using a trend following strategy to trade the long and short side of the crypto market.
These videos act as my trading journal allowing me to document my trade ideas so they can be analyzed and improved over time.
The strategy used here focuses on price action. It...
GBPJPY price has dipped down to a support zone that has held all year.
This offers decent risk/reward by playing a move back up to 158 with a stop below the support zone at 148.40
Risking 1% and looking at taking some profit around 157 ahead of the high at 158
Historically JPY pairs are correlated to the equity markets so hoping to see the drop in equities slow...
Cardano ($ADA) prices have consolidated into a descending triangle.
A break below 1.2 may see prices push down to the 1.0 support area
This can be a nice way to play the general crypto pullback we are seeing right now
EUR/USD is hitting a long term resistance level better seen from the monthly chart.
If we drill into the 4-hour chart we can see potential lower highs being created which could indicate a move down to the support area towards 1.10
PLTR looks to be creating a new support level around 30 which has acted as resistance in the past. If prices continue to respect the support and resistance area from 28 to 30 we can expect the price to continue its uptrend.
Price is finding support around the trendline that previously acted as resistance.
While price remains above the $20 lows my outlook remains bullish.
Buys at these levels with a stop at $20 offer an excellent risk/reward ratio assuming price can go back to the all time highs
The $15 area seems to be a significant price point for this stock.
Going to be looking for entries if the price dips and creates a new low above or around the $15 level
No longer bullish if price is under the support area around $10
FTM has found support multiple times above 2.4
With many of the other cryptos breaking to new highs I suspect FTM will soon follow with a move to 4
Looking to add to my position with a stop under 2.4
Bullish invalidation if price drops under 1.8
If we examine the price action after BTC broken above the 20K high set in 2017, we can see a five wave count up to 62K and now we may be working on an ABC correction wave.
My long-term view is bullish but for now I am watching price action and waiting to add to my position at lower price levels.