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BTC 1W hidden Head and Shoulders pattern shown on 2h Looking at the weekly chart, I noticed a clear H&S pattern on VWAP. VWAP is an intraday indicator, but it can show a pattern in larger frames, like now. I was trying to find a way to draw and measure it clearly on commonly used timeframes, but it is most apparent on a 2h chart. As you can see on VPVR on the right, the neckline is below the 27100 resistance, and if it breaks it, there is a gap down to 25100. But the full potential of the pattern targets 23100. On my trend wave indicator, the weekly trend reached a local top on the 17th and turned bearish at the +60 line. Right now, it is right above the +50 line. That area often acts as support and resistance. And here on 2h, the trend is reversing right above the zero line, which is also strong support. Still, since this timeframe is not usual, this could also mean that trend is being rejected from it. The chart is bearish. Volume is low. But the price is what it is. Trade with the trend. But it doesn't hurt to be prepared. Right?
Short
by RockinHood
🔥 One Year To Bitcoin Halving: How Will The Market Perform?The fourth Bitcoin halving is scheduled to occur around a year from now. Historically, Bitcoin halvings have always preceeded a major bullish impulse which led to massive returns on both Bitcoin and altcoins. We all know how crypto tends to perform after halvings, but how does BTC perform in the year prior to the halving? We don't have a lot of datapoints, but from the prior three halving events we can draw a couple of conclusions: - The amount of upsides tends to diminish over time. The upside in the year prior to the first halving was much higher when compare to the upside of the year prior to the third halving. - There seems to be a lot of sideways / bearish periods, especially in the prior two halvings. Although this analysis is not really usable for day-to-day trading, it can give us an impression of what we can expect; mainly bullish, with a lot of drops in between. Keep in mind that the year before the third halving saw a huge drop during the corona crash. Arguably, we would've ended up much higher if that didn't happen. Furthermore, we're currently in a macro environment that we've never seen in Bitcoins life before, so take this analysis with a grain of salt.
BITSTAMP:BTCUSDLong
by FieryTrading
7
Learn the Strongest Reversal Candlestick Patterns Hey traders, In this educational article, we will discuss powerful reversal candlestick patterns that every trader must know. Bullish Engulfing Candle Bullish engulfing candle is one of my favorite ones. It usually indicates the initiation of a bullish movement after a strong bearish wave. The main element of this pattern is a relatively big body. Being bigger than the entire range of the previous (bearish) candle, it should completely "engulf" that. Such a formation indicates the strength of the buyers and their willingness to push the price higher. Bearish Engulfing Candle The main element of this pattern is a relatively big body that is bigger than the entire range of the previous (bullish) candle. Such a formation indicates the strength of the sellers and their willingness to push the price lower. ________________________ Bullish Inside Bar Inside bar formation is a classic indecision pattern. It usually forms after a strong bullish/bearish impulse and signifies a consolidation. The pattern consists of 2 main elements: mother's bar - a relatively strong bullish or bearish candle, inside bars - the following candles that a trading within the range of the mother's bar. The breakout of the range of the mother's bar may quite accurately confirm the reversal. A bullish breakout of its range and a candle close above that usually initiates a strong bullish movement. Bearish Inside Bar A bearish breakout of the range of the mother's bar and a candle close below that usually initiates a strong bearish movement. ________________________ Doji Candle (Morning Star) By a Doji we mean a candle that has the same opening and closing price. Being formed after a strong bearish move, such a Doji will be called a Morning Star. It signifies the oversold condition of the market and the local weakness of sellers. Such a formation may quite accurately indicate a coming bullish movement. Doji Candle (Evening Star) Being formed after a strong bullish move, such a Doji will be called an Evening Star. It signifies the overbought condition of the market and the local weakness of buyers. Such a formation may quite accurately indicate a coming bearish movement. I apply these formations for making predictions on financial markets every day. They perfectly work on Forex, Futures, Crypto markets and show their efficiency on various time frames. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
13
Corrective Movement for AUDUSDThe AUDUSD pair has reached a support level, with a divergence appearing on momentum indicators. This could lead to a corrective movement, with a retest of the channel it escaped from, the 100 and 200 moving averages for the 4-hour timeframe, and the Fibonacci level of 38.20% around 0.66630. The price is then expected to drop towards 0.6550. Please share your thoughts in the comments and show your support by liking the idea. If you're interested in more ideas like this, please follow. Your support is appreciated!
Short
by Candlestick_OB
🔥 Bitcoin Potential Perfect Bearish ChannelAfter a failure to break through the 30,000 resistance three times, it appears that the bulls have given up and the bears took over. When we connect the two local tops and copy that trend line to the bottom, we create a perfectly symmetrical channel. It's unclear whether we're going down all the way to the support line of the channel, but I have to agree that things have started to look more bearish after we topped at 31,000. With the FOMC interest meeting around the corner, we have to consider the idea that Powell will announce that he won't cut the raise, and potentially even raise more in the future, leading to a bearish reaction. Time will tell.
COINBASE:BTCUSDShort
by FieryTrading
5
🔥 ICP Going Parabolic, But For How Long?ICP has seen an incredible move over the last few days, where it gained almost 30% and severely outperformed the rest of the market. Seeing that BTC is trading bullish/neutral, it's likely that ICP will continue to go up in the near-term. However, we're currently severely overbought, so a short-term correction might be coming. The main resistance that I'm looking at the is top diagonal resistance, which connects the two most recent local tops. Be prepared for bulls taking profits here. If BTC continues to go up, ICP will likely break out of the triangle. Till then, I'm assuming that ICP will stay in the pattern.
Long
by FieryTrading
8
Bitcoin in symmetrical triangleHello Fellow Traders Greetings from team trading the tides ! lets discuss bitcoin which is inside a Symmetrical triangle , volume is pretty low waiting for the break out to enter position for long or short but I am more interested to wait till it reaches 31-32 k level which is a major resistance area and a good distribution point if we see the history . potential area to initiate short : 31-32 k levels according to the market conditions 22 k level is also very likely because there's a cme gap and btc inflows from wallets to exchanges are rising ! happy trading !
Short
by TradingTheTides
2
🔥 Where Are The Bitcoin Bears? Over the last week I've made a couple of analyses on BTC and the rising wedge pattern it was trading in. In my last analysis I expected some kind of oversold bounce into a new sell-off. Seeing that we've moved almost 9% in less than 24 hours makes me question whether we should look for going short. My bounce area (blue) has been reached, but we're blasting through it. Seeing that we're currently reaching overbought levels on the 4H timeframe, today's a make it or break it day for the bears. If Bitcoin bears can't push through and move us back down, I see it likely that BTC will make a new local top, target at 32,000 for now. Let's see what today will bring.
by FieryTrading
8
Wealth Unleashed: Wedge Pattern Power - Hidden Gem Revealed!Introduction: Are you looking to skyrocket your trading profits? Look no further! Today, we will uncover the hidden gem of trading patterns: the Wedge Pattern. This powerful tool has the potential to transform your trading strategy and help you achieve financial success. Let's dive into the world of wedge patterns and explore how you can capitalize on their power. What are Wedge Patterns? Wedge patterns are popular among traders due to their high probability of forecasting trend reversals. These patterns appear when the price of an asset consolidates between converging support and resistance lines. There are two primary types of wedge patterns: the rising wedge and the falling wedge. Rising Wedge: In an upward trend, the rising wedge is considered a bearish pattern. It forms when the price consolidates between an upward-sloping support line and an upward-sloping resistance line that are converging. As the price approaches the apex of the wedge, the upward momentum weakens, signaling a potential trend reversal to the downside. Falling Wedge: Contrary to the rising wedge, the falling wedge is a bullish pattern. It appears in a downward trend when the price consolidates between a downward-sloping support line and a downward-sloping resistance line that are converging. As the price nears the apex of the wedge, the downward momentum loses strength, indicating a possible trend reversal to the upside. Trading Strategies: To capitalize on the power of wedge patterns, follow these steps: ✅Identify the pattern: Observe the chart for converging support and resistance lines to spot a rising or falling wedge pattern. ✅Confirmation: Wait for a breakout from the wedge pattern, either above the resistance line (for falling wedges) or below the support line (for rising wedges). ✅Entry point: Open a long position after a breakout above the resistance line in a falling wedge, or a short position after a breakout below the support line in a rising wedge. ✅Stop-loss and take-profit: Set your stop-loss order below the breakout level (for falling wedges) or above the breakout level (for rising wedges). Establish your take-profit target at a level that aligns with your risk-reward ratio and trading plan. Conclusion: The wedge pattern is a hidden gem that can potentially boost your trading profits when used correctly. By mastering the art of identifying and trading wedge patterns, you can strengthen your technical analysis skills and increase your chances of success in the market. Remember, no single tool guarantees success, so always use additional technical indicators and maintain a disciplined approach to risk management. Happy trading!
Education
by Yaroslav_Krasko