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BTC:USD 4 hour chart DAILY UPDATE (day 38)Yesterday I was sitting on the sidelines and waiting to see what developed. I was keeping my eye on the red dotted line and the 50 day moving average. The bulls needed to support above the moving average and break the bear trend formed by the red dotted line. Unfortunately the bears won that fight and now it looks like we are heading lower. That made a third point of contact on the red dotted bear trend. Since that has been established it is even more likely that the price will resistance on the fourth point of contact. We have broken down below the longer term bull trend support (green dotted) as well as the horizontal support at $7,000. Not to mention that the RSI is back below 50. The next area of support will be $6,675 and I do not expect that to provide a bounce. We have already bounced from that area twice and it will be much weaker the third time around. If we do break down below that then the next area of support is $6,000. Wish I had better news but those are the technicals as I see it! Until next time happy trading and remember that following is free!
BITSTAMP:BTCUSDShort
by Sawcruhteez
BTC:USD 4 hour chart DAILY UPDATE (day 37)My short sell was stopped out at break even, now I am sitting on the sidelines and waiting to see what develops. I was very surprised to see $7,250 resistance break and do not have a confident prediction in either direction. So I have outlined my bullish and bearish scenarios arguments. Bullish Above 50 day SMA Back above green dotted bull trend line RSI above 50 (think of this like 50 yard line on football field) Bearish Potential new bear trend forming. Price is testing the red dotted line for a 3rd time. If it resists then it will like resist for a 4th time before reversing Horizontal resistance at $7,750 should be fairly strong I am leaning towards the bullish option, but the overall trend is way too bearish for me to open a long right now. If the price can break through $7,750 then I expect us to retest the longer term bear trend (red solid). If we can break through that then I will be going all in on a long. Happy trading and remember that following is free!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 4 hour chart DAILY UPDATE (day 35)I am still actively managing the BTC:USD short. $5,000 remains the target. We we hit the $6,000 low on 2/6 I used it to draw a new trend line (green dotted). We have been consolidating on top of that line over the past 48 hours. It appears that $7,000 is holding as resistance and that we should be breaking down here soon. Above $6,850 could provide a good short sale entry if you are not already in a position. Happy trading and remember that following is free!
BITSTAMP:BTCUSDShort
by Sawcruhteez
BTC:USD 4 hour chart DAILY UPDATE (day 33)Yesterday we broke down through $7,400 and that was my final confirmation to sell. I drew an arrow to $5,000 and that remains the target. $6,650 provided support last night, and I added to my short on that bounce. Now we are heading back to retest that level and I think it is about 95% that it breaks down. Once that happens we will see another big drop, probably down to $6,000. We need to see capitulation before this momentum has any chance of reversing. I wish there was better news to report but those are the technicals that I see. Happy Trading and best of luck!
BITSTAMP:BTCUSDShort
by Sawcruhteez
4
BTC:USD 4 hour chart DAILY UPDATE (day 32)Yesterday I was holding my breath and watching for support to hold above $7,400. I urged to wait for final confirmation and not dump just yet. That confirmation came this morning and now it is time to prepare for $5,000. I have opened a short with that as my target. There should be a lot of support waiting and I do anticipate a bounce. However I am going to be preparing for a longer term bear marking and I will be viewing that as a dead cat bounce which I will be looking to short. I wish I had better news but I have to call it how I see it. Happy trading and best of luck!
BITSTAMP:BTCUSDShort
by Sawcruhteez
3
Bulls maintain control for now by closing above green trendlineFortunately the previous four hour candle did not make good on its threats to close as a bearish engulfing candle and instead closed just above and almost on the green trendline...The current candle has maintained a bullish momentum but is clearly using the green trendline as support and the 50 MA as resistance. I still think the wedge breakout is destined to get very close to its projected target of $10335 so I assume that this consolidation period is forming a bull flag. Because of the length of the red candle however it could also try to form a bear flag so its best to be prepared for either. Probability is leaning more towards bull flag just barely for now and so am I. I try to side with probability more often than not. One interesting thing to note is the support and resistance lines are precarious because the 50 MA just rose slightly in price from where it was the last 4 hour candle...and the descending trend green trendline support has fallen a little in price from the last candle. If these continue to play support and resistance roles during the consolidation I predict that the 50MA will continue to push upward and obviously with each candle the green descending trendline will drop a little lower....just beneath the descending green trendline we have the T line which has jumped a good deal upward from the last 4 hour candle and seems to have a good bullish momentum behind its slope so we may see continued consolidation between the green trendline and the 50 MA until the momentum of the Tline comes up to double reinforce the green trendline and give it enough of a boost to jump back above the 50MA which has just now started to turn its slope towards the upside as well. I predict a small bull flag and then a bullish breakout from that continuing on its way to 10335...it has the highest probability so I side with it but at the same time I am fully prepared for the chance of a bear flag causing a little temporary detour before we continue upward. Being as this is not financial advice you'll have to make that determination for yourself. Cheers.
BITFINEX:BTCUSDLong
by DrDovetail
EURUSD 4hrs/Daily Short OpportunityEURUSD 4hrs/Daily Short Opportunity EURUSD has been testing the Resitance of Weekly channel and seems to be forming a triangle now with possibility of reversal and start of downward move within the weekly channel. Divergence clearly visible in the weekly trend. Entry point: 1.23 SL: 1.253 TP1: 1.2165 (above next 4 hours support) TP2: 1.21 (above 4 hours S2) TP3: 1.195 (above 4 hours S3) TP4: 1.1772 (above 78.6% fibonachi reversal level of wave 5 in daily trend) Wait for reversal confirmation before entry
Short
by masood_bakhtyar
AUDCHF 4 hours Long Entry in Week 11/12Buy opportunity seems to be coming up in AUDCHF The channel support was broken but slightly but now prices are back into the channel so potential upward move within the channel is a possibility We are wave C of Z in the daily correction channel Within wave C, it seems like wave 3 of wave 1 of C is almost complete. I would wait for completion of wave 1 and then wave 2 and buy in wave 3 of C. Buy Entry: 0.744 (above the estimated wave 4 of 1); this may change depending upon where wave 4 of 1 ends. Alternative buy entry can be above wave b of wave 2 of C Another aggressive alternative can be above wave 4 of wave c of wave 2. SL: 0.724 TP1: 0.762 TP2: 0.77 (just below 1.618 fibonachi extension level for wave 3) TP3: 0.776 (just below 38.2% extension for wave 5) The TP levels are based on the estimated end of wave 1 and retracement of 78.6% for wave 2. These may change depending upon the wave 1 and wave 2 end points To be confirmed before entry: Wave 2 has finished with a,b,c of 2 identified in 4 hrs or 1 hr chart. Identification of divergence b/w wave 3 & 5 of c of 2. prices closing above EMA Stoch 76,4,4 in 4 hours to be above 20
Long
by masood_bakhtyar
GBPAUD 4hr Long Trade Opportunity Possibility of upside move resumption in wave (3) of iii of (iii). Wait for break of the triangle formation and prices closing above the triangle and 4 hr bullish candle being formed above the triangle after break of triangular resistance line. Entry point: 1.8 TP1: 1.839 (between 1.618 and 2.618 extension level of wave (3) of iii of (iii) --> 50% position TP2: 1.856 (below the 1.618 extension of wave iii of (iii) --> 25% position TP3: 1.885 (below the 1.618 extension of wave iii --> 25% position SL: 1.77 i..e below the triangle support line Move SL to 0 after hitting TP1 Before entering ensure that - prices close above the triangle - there is atleast one bullish candle opening and closing above the triangle - EMA is below the candles -Stoch is above 20
Long
by masood_bakhtyar
NANO BULLISH CONTINUATIONHappy Friday everybody, we're getting this day started with a quick check in on NANO. The 4hr looks amazing; we have a beautiful ascending triangle forming with the high trend line being tested twice, countered by the low trend offering higher levels of support twice. The volume decreasing is a sign of accumulation taking place and should not be thought of as lack of buy side investors. To get a new target price breaking out of an ascending triangle we need to measure the triangle at its widest and move that height above the top horizontal line (resistance breakout). The lowest low in the triangle compared to the top horizontal is roughly 2.5 blocks below, so if we flip that on top of the resistance it puts our new target price close to the top of the trend line, roughly .002. Not advice - Get outside more often - Call your mom and eat some greens -Delgado-
N
by aledelga
1
1day chart's 50ema catches bulls & keep them in the rising wedgeSo we had a crazy plummet yesterday. We were long overdue for a retracement and this one was caught by the double reinforced support of both the 50EMA(in blue) and the bottom trendline of what I originally thought was just a channel..after adjusting it to the recent price action I have discovered instead it appears to be a an ascending wedge. The pice has stayed true to this wedge every since the most recent bottom so its definitly a strong source of both resistance and support. Interestingly enough the second inverted head and shoulder target I set up in the 15000s is, as you can see, the exact same price level as where the ascending wedge ends when I drew it until both lines converge...could this be simply coincdence? Who knows but it could be that our secondary head and shoulders breakout target price is valid after all. We shall have to wait and see...the closer we get to it the less the price action is gonna be able to move. It was comforting after we started the new days candle to see the 4hour chart ater a couple red candles throw out a green bullish reversal hammer patern. I'm still cautiously optimistic that with the strength behind this ascending wedge...it can help take us all the way out and break above the descending channel we've been captive of since december.
BITFINEX:BTCUSD
by DrDovetail
BTC/Dollar 4H chart RSI a little bit overbought, pullback expected around previous resistance, now support at 9 – 9.2K. The 0.618 fib line would be a perfect support line for bullish consolidation. If support holds, next target 10k In my opinion the dip is at the end. Looking at the market cycle we are in the despair phase, FUD and whales manipulate the whole crypto market. This is my first technical analysis, I am learning to create analysis and to understand how Tradingview works…. This is certainly not financial advice. Tips are always welcome!
BITFINEX:BTCUSDShort
by paultje
EURUSD_Trading idea_Strategically short until proven otherwiseHello everyone. Looks like EURUSD is going to form a temporary bottom here and break higher in attempt to confuse as many traders as possible. However on 4 hour the downtrend is well established. Fib is on DAILY chart. Precisely ran from the low of 1.15536 created on 11/07/2017. to the high of 1.25378 put in on 01/25/2018. Entry area is general. I will need to see signs of rejection on 4 hour before I jump in. Stop loss on trade or idea is indefinite. This is a short-term trade. It either works or it doesn't. I will not have my emotional capital tied up if EURUSD decides to test the highs. T1 1.22180 T2 1.2106 Wait for confirmation before entering. We are entering a COUNTER TREND trade and we should not get greedy. Notice how T2 is slightly before the old major high that still needs to be retested for the market to run higher longer term. If filled I will take half the position off at T1 and trail the other half to T2. Good luck traders! If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
Short
by UnknownUnicorn981629
2