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Parallel channel update! retestI try to use as many indicators as I can to experiment and learn from thier comecomes. Iv been using the parallel channel tool recently and I enjoy how simple but handy it is. To me, recently we broke down from a upward trending channel (green) and it looked to me as if I slight downtrending channel was beginning to form (orange) Yesterday we momentary broke back out of the orange channel, perfectly retested the bottom of the green channel and got heavy resistance before re-entering the orange channel (retest and mini fakeout) See the link post for past related posts and keep an eye out for updates :)
COINBASE:BTCUSD
by Connix
1
27/03/23 Weekly outlookLast weeks high: $28895.5 Last weeks low: $27735.9 Midpoint: $26576.2 A week of sideways action following the previous weeks strong rally. BTC has currently topped out at a local high of $28895, the volatility of the FOMC event in the middle of the week gave us a sharp decline before a retest of that weekly high in which it was rejected. With the estimated 0.25% rate hike being confirmed the market had this result priced in, but as always with the FED announcements like FOMC & CPI comes volatility no matter the resulting news. Note the importance of the 1H 200EMA purple moving average as support, on 3 separate occasions it provided the best possible entries for longs last week. It will be interesting to see if this pattern continues throughout this week. For me, the floor is at last weeks low, if Bitcoin falls under that area and confirms it as resistance that'll mean we've lost the 1H 200EMA as well and the outlook would be bearish in my opinion. After all this is still just a bear market rally until proven otherwise.
by ProR35
BTC short term (1h candle)We recently broke down from our small ascending triangle (blue lines) and hit the target shortoy after perfectly! (White dotted lines and yellow horizontal) We then quickly bounced upward to retest the bottom of the triangle, which looked like rejection! Currently looking at other possible plays. Mainly a upward parallel channel (green lines). As you can see we are reacting nicely to the centre line nicely using it as both support and resistance. Will keep you updated
COINBASE:BTCUSD
by Connix
GBPJPY Technical Analysis 23.03.2023 1h chart– Previous Daily candle close Bearish at 161.100 back in the range forming new Daily Resistance at 161.800. – Buys on close above 161.360 targeting Daily Resistance at 161.810, Leaving Runners to the 1h Resistance at 162.310. – Sells on close below 160.800 targeting 1h Support at 160.290, Leaving Runners to the 4h Support at 159.850. – High Impact News ahead for the Pound Sterling 1h before New York session opens as follow : MPC Official Bank Rate Votes, Monetary Policy Summary and the Official Bank Rate – What is Bank Rate : – The Bank Rate for the Bank of England, also known as the base rate or interest rate, is the rate at which the Bank of England lends money to commercial banks. When the Bank Rate is high, it becomes more expensive for commercial banks to borrow money from the Bank of England. This, in turn, can cause commercial banks to increase the interest rates they charge their customers for loans and mortgages. On the other hand, when the Bank Rate is low, it becomes cheaper for commercial banks to borrow money from the Bank of England, which can lead to lower interest rates for loans and mortgages. – The Bank of England’s Monetary Policy Committee (MPC) sets the Bank Rate based on their assessment of economic conditions and their mandate to achieve the government’s inflation target. By adjusting the Bank Rate, the MPC can influence the level of economic activity, inflation, and employment in the UK economy. A lower Bank Rate can encourage borrowing and spending, which can boost economic activity and employment, but may also lead to higher inflation. Conversely, a higher Bank Rate can help to curb inflation, but may also dampen economic activity and employment.
by SalimFX20
AUD/USD 1H Technical.Recently there was a bearish CHoCH made on the 1H time-frame for AUD/USD. We might see double sided trade opportunities potentially. Reason for potential long entry; We see that the price recently was consolidating the past days, we might see a jump from the Order block that the price is right now and filling the FVG recently made, retest the S/R area and continuing the consolidation trend by moving up. Reason for potential short entry. The price broke the recent Support level at 0.66550, me might see the continuation of the bearish trend because it was recently discovered a "Change of Character" . It might potentially move lower after retesting the 0.66550 Resistance level (previous support). By any means, moving the price below the Anchored VWAP line and strengthening of the US Dollar, we might be looking for shorts. REMINDER; Always make your own analysis and before taking any kind of trades, make sure you have a solid confirmation about the move that your willing to take. FUNDAMENTAL REMINDER; Watch out for the interest rate decision on 22/03/2023. It will have a really important impact on the US Dollar. Looking forward for your comments on this idea.
by RumbaCash
20/03/23 Weekly outlookLast weeks high: $28435.9 Last weeks low: $25136.9 Midpoint: $21837.8 Huge rally for BTC last week! pushed past a key level of 25.5k, a level we have been under since 14th June of '22. We are now working in the 25.5k - 32.5k range and it's important to secure price above the previous high. acceptance in this range should see us work towards the mid range at 29.2k before 32.5k. It's hard to know what the near future holds because of the macro banking financial worries. However, it's important that crypto performs well when legacy banking doesn't, that's the whole point of the technology originally.
by ProR35
SasanSeifi 💁‍♂️ USD/CHF 1H ⏭ 0.92500/0.92200 ? ❗❗HI TRADERS ✌ The Possible USDCHF scenarios are marked in the chart .We can expect that the price will be corrected to the range of 0.92500/0.92200. The possibility of a positive reaction from the range of 0.92500/0.92200 can be considered. Otherwise, if the low price stabilizes at the level of 0.92200, we may see further correction. We have to see how the price will react to the specified range of demand and orderblock The supply Zone is 0.93200/0.93500. If the price penetrates above the range of 0.93500, the desired scenario will be fielded. ❎ (DYOR)...⚠⚜ WHAT DO YOU THINK ABOUT THIS ANALYSIS? I will be glad to know your idea 🙂✌ IF you like my analysis please LIKE and comment 🙏✌
Short
by SasanSeifi
2
SasanSeifi💁‍♂️AUD/USD .1H 👉 068 ? HI TRADERS ✌The possible trend is shown on the chart. If it stabilizes above the range of 0.67500 and maintains the range of demand zone , we can expect price growth up to the range of 0.67900/0.68. Otherwise, if the price penetrates below the range of 0.67400 and stabilizes, the possibility of further correction can be considered.We have to see how the price will react. ❎ (DYOR)...⚠⚜ WHAT DO YOU THINK ABOUT THIS ANALYSIS? I will be glad to know your idea 🙂✌ IF you like my analysis please LIKE and comment 🙏✌
Long
by SasanSeifi
2
27/02/23 Weekly outlookLast weeks high: $25305.1 Last weeks low: $24008 Midpoint: $22712.3 BTC Gradual decline away from the ~25k HTF swing high was to be expected for a lot of traders, last week that scenario played out with a consistent drawdown towards the lows of 22700. Personally I'd like to see 22.5k be the local low of this move down with a strong reaction from the bulls in this area if BTC is to regain momentum. Failing that the daily 200EMA has been great support as of late, that sits around the 21800 area and needs to hold for the bulls.
by ProR35
1
20/02/23 Weekly outlookLast weeks high: $25301.6 Last weeks low: $23314.8 Midpoint: $21328 BTC reached the local top of 25k and presented the market with a big question of would price break above this previous top, or reject and break down lower? As of now the bearish result seems to be playing out, however I still wouldn't be surprised if the supply zone doesn't get tagged above the 25-25.5k as that has not happened yet just to take liquidity before breaking back below. However, if price is accepted above that zone 28k is the next stop.
by ProR35