Hello, Trade identification is the process through which you are able to identify setups that can be actioned on in the markets. For this example, I shall be using the BTCUSD chart to chant my path as I look for tradeable setups. 1: Structure drawing Identifying the structure of trades is very key since it creates a sense of knowing where the market is at from...
As mentioned in previous analysis, I believe the breaking of 60K to be important for BTC. If it is important, we'd be in a bull trap now. Currently we have to classic 76 retracement along with a butterfly correction pattern. Trying a fairly large short on BTC now. Expressed through shorts on BTC directly, OTM puts on COIN and OTM puts on MSTR. If the break...
Welcome, traders and investors, to our educational post on ascending and descending triangles! In the fast-paced world of financial markets, understanding chart patterns like these is crucial for making informed trading decisions. Ascending and descending triangles are powerful tools that provide valuable insights into market dynamics and potential price...
Bitcoin looks very strong at this moment. We can see that the price is breaking out of the descending parallel channel on the daily chart. The price is above the channel and has already retested the downward-sloping trendline. We should see a strong pump from the current price. Why is bitcoin pumping? From a technical perspective, it's pretty easy to say. Take a...
Bitcoin price remained well above the $62,500 support zone and extended its gains. BTC was able to overcome the resistance at $64,500. It even cleared $65,000 and checked $65,500. A high was formed at $65,550 and the price is currently correcting gains. There is a minor decline below the $64,000 level. However, the bulls are active near the $63,000 area. There is...
Hello all dear traders! Let's discuss and plan our short-term strategy today! Overall, BTCUSD experienced significant volatility over the past day with the price falling past the $63,000 mark. It is currently trading at $62,627, marking a 0.49% increase on the day, since hitting $62,179. But! At the same time a pattern has formed which we often call a triple top...
Hello everyone! As predicted yesterday, BTCUSD has lost 62k support and the pressure is on the selling side. It is currently trading around $61,167 and has lost 0.03% on the day. On the 1-hour chart, there are 2 interesting resistance levels that were clearly broken by the bears at $63.00 - $62,000, generally indicating that the selling pressure of the bears is...
Hey there, what do you think about trading BTCUSD? Currently, on the technical analysis chart, BTCUSD has broken out and ended its downward trend with a breakthrough above the descending trendline at $61,600 USD. From observing the technical chart, I advocate for a buying trend in the short to medium term with a profit-taking target around $64,000 USD, and even...
Dear traders! BTCUSD experienced significant volatility yesterday with a breakout from the $62,000 level it is now approaching the $61,000 level which should generally provide momentum to lower levels. However, the slowdown around the $60,700 area increases the possibility of a return to growth within the corrective trend. Talking about the current trend, it is...
BINANCE:BTCUSDT has been showing bullish prospects all week and has been consolidating above key zones, preparing to go higher, but on Friday the market changed to bearish and there is a reason for that. BTC lost 3.3% on Friday and is currently painting a bearish picture. There are two reasons for this: Inflation related news, basically proving that...
Bitcoin (BTCUSD) broke again below the 1D MA100 (green trend-line) after the 3rd rejection on the 1D MA50 (blue trend-line) in almost 1 month (since the April 13 bearish break-out). If it stays unbroken, it is a far from ideal development as the 1-year price action has shown us that such a pattern risks making a Lower Low. The technical structure since April 08...
Judging from the 120-minute chart, the 10-day moving average and the 20-day moving average form a dead cross, with the two moving averages running parallel downwards, and the MACD indicator is also below the 0 axis, which is an obvious short trend. In addition, the price is falling along the 10-day moving average, and the current thinking is still...
Hello dear friends, BTCUSD is striving for a recovery, but the upward momentum seems to be weak and lackluster. The downtrend continues to hold strong on the 6-hour chart, and we are still aiming for the target of $58,700 USD after the retracement around the 0.618 Fibonacci level concludes. Thank you all!
Bitcoin has retraced off the 56,400 area support (level has been on this chart for months), straight back to 64K. The arrows on the chart point to the consecutive lows that characterize a failed low pattern. This brings price to a tricky area for new swing trades. The 64K area is a resistance and NOT an ideal spot for new longs on this time frame. In this scenario...
Hello all dear traders! So after a long period of price decline, BTCUSD rebounded with a spectacular breakout from the price wedge, which was not only a move from the bulls but also pushed the price up sharply from this point on. It is currently consolidating above highs of $63,083 marking a 0.1% gain on the day. However, looking from a technical perspective on...
Judging from the daily chart, yesterday's closing was a big negative line, which reversed the positive line the day before yesterday. In addition, the price rebounded to the 20-day line and then fell rapidly. This shows that the current price will continue the downward trend. Although the price is currently in a rebound stage, as long as the price does not exceed...
This is the situation right now on the daily timeframe; Bitcoin produced a lower low 1-May, this normally leads to a bounce. A bounce after a new lower low can push prices easily toward 70K, as a lower high but this isn't happening, this didn't happen. The bounce pushed prices to 65.5K and that's it, weak and a lower high confirmed; so far. Closing today below...
Yesterday I said that if the Bitcoin price breaks through 61800, the downward trend may be reversed in the short term. Yesterday the price broke through 61800 and then fell back to 61800 and continued to rise. The highest point was close to 63900. The price is currently correcting. Judging from the 60-minute chart, the price has stood above the 20-day and 50-day...