Bitcoin (BTC/XBT) Daily Long&Short Trade Setups 2021/03/12Market Overview
Price Action: Bitcoin continues to inch slowly, but surely, upwards towards the AllTimeHigh of $58.4K. In fact, price came within a couple hundred dollars of the ATH. The fact that price is retracing but not collapsing from the retrace indicates that so far there hasn't been a major rejection from that resistance level and that we are likely going to have further attempts at the ATH. What price action looks like during those attempts will be key in determining whether $58K is a double top or if it will turn from resistance to support and propel prices to $70-80K+.
Patterns: N/A
Areas of Interest: The area(s) of interest for me are the 200MAs @ $56-56.3K and the highs/ATH @ $58.2-58.4K. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time. Of course, it is possible we just pump to ATH of $58K directly from here, in which case we will be looking for trading opportunities at that level.
Trade Setups
Below are the potential trade setups that I would be interested in trading:
Long Trade Setup #1: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back down to the 200MAs, currently projected to be @ $56-56.3K by the time price reaches it, and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming
Long Trade Setup #2: Breakout and Continuation
1. Price Action: Price breaks above and falls back down to $58.2-58.4K and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming
Short Trade Setup #1: False Breakout
1. Price Action: Price breaks above and then falls below the high @ $58.2-58.4K, forming a bull trap
2. Trade Entry Confirmations: A breakout candlestick followed by a breakdown candlestick, above average volume on both breakout candle and breakdown candle, MACD topping out
My Recent Trades
2021/ 03/01: I had a winning trade! I entered long @ $46,288.00, SL @ $45797.19, price reached a high of $49,470.0, giving a risk reward ratio of 6.5:1.
2021/ 02/28: I had a winning trade! I entered long @ $44,875.0, SL @ $43,800.0, price reached a high of $45,530.6, giving a risk reward ratio of 0.6:1.
2021/ 02/22: I had a winning trade! I entered long @ $56,850.0, SL @ $56,379.0, price reached a high of $57,274.0, giving a risk reward ratio of 0.7:1.
DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!
What are your thoughts? Please leave your ideas and analysis in the comments below! Do give the post a like and a follow.
Alltimehigh
BTC short-term moment of truth coming upBTC looks to be making a run toward the all-time high. However, RSI on the 4-hour chart (red line on RSI chart) has me concerned in that it is once again looking lower as we head up in addition to all of the surrounded resistance right now.
Hence I really wonder: Will we double-top? Will we break through? Or will we hit resistance by the smaller channel (dashed green lines) as well as hit resistance by the longer term trend from the last jump up around 42K (yellow solid line).
Even if RSI does indicate downward, I have learned to always also expect a short burst possible after as well (similar to what happened mid-February).
I suppose we shall see shortly, but if we do break out, there is a good chance we could end up in the higher channel (purple dotted lines, note: I probably should have drawn that going forward in time, not backwards, but I just wanted to emphasize the point about the channel), particularly as the daily chart still could have a little bit of energy left to grow. Opinions welcome too if you think there is something that shows a more definitive sign one way or another.
🔥 Bitcoin New All Time High Break-OutBitcoin is well on its way to produce a new all time high in the coming days. This trade acts on that premise. However, since Bitcoin has historically seen a small sell-off around +10% gains in one run, I'm expecting Bitcoin to fall to around 55k after hitting the current ATH resistance. At 55k we'll place our entry and trade the way up.
Before entering this trade wait for the price to touch the Entry line. Higher time frames yield a higher predictive power.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on the current all time high and round numbers. Do your own due diligence.
Happy trading!
Bitcoin looking healthy when you read between the linesLet’s look at the facts. Major institutions and billion dollar purchases have been dumping into btc recently. So what do you do if you have a million dollars in something and it goes up 10%? Take profits!! Of course. So price starts to dump down. But then what do you do if you realize price is looking cheap…you buy!! Of course. That’s the pump and dump of the short term moves in all of crypto especially BTC. So what you see going on right now and probably for the next few hours if not overnight and as asian markets open, is more slight corrective price action. But what will happen in the next day or two will absolutely blow the bears out of the water. If this move wasn’t going on right now we should all be worried. The fact that this very healthy and within chart analysis price action is going on should make a lot of HODLers happy. New highs here we come. Happy Trading!!
Ethereum Breakthrough 2000+ ALL TIME HIGH price targets!!!??Here is a video summing up some of the recent trade ideas posted to suggest a new all-time high is in the near future. We have been closely analyzing the recent price action with fibs and pitchfork trade indicators. The price action has been very accommodating to these trends and will most likely continue this bull run for the coming days. When these moves happen you don't want to be left behind. We try to get to the point with our video and chart posts so you can make your investments quickly and securely.
Next move for BitcoinBitcoin is looking good! We are again looking for the Range High and am curious to see if we are going to look for liquidity and end up back in the range. It would be a nice option to give the alts some additional room. On the other hand, I personally think we have ranged enough and are ready for a new ATH
OMG/USDT Found support to fight backOMG dropped strongly after reaching its previous ATH.
Finally we found a horizontal support line as well as a rising support line (Yellow).
OMG will make its way and rise again to crush its ATH.
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
ONE/USDT Testing previous ATH as new supportOne Harmony broke out of its previous All-time-high (ATH).
We are currently within a pullback to retest the previous resistance if it acts now as support.
So if it does this is considererd to be a good entry point.
Keep an eye onto the yellow line which signals the next support if the previous ATH doesn't hold.
What is the upper limit you ask? Well I don't see any.
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
THETA/USDT The future of StreamingTheta Network is the first blockchain related streaming service.
As such and in consideration that streaming replaces the known tv program piece by piece is very bullish.
I see 5$ very easily for this year.
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Green lines are tested support lines.
Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
Cyan line is for volume trendline.
Purple lines are trendlines we take a look at.
Yellow lines are for visual help only.
Neat clean breakout in Elgi EquipmentThe stock has given a breakout once again after a small correction. It is ready for next phase of movement. Short term and medium term targets have been given in charts. Keep liberal stop loss of 160 initially and once the stock goes in our direction then trail the stop loss to our buying price.
Litecoin all time high prediction statusUpdate from previous prediction of Litecoin price in the not-so-distant future. We are relatively on track, I expect a few breaks from the larger trend line throughout this process, but nothing without a quick rebound. AS we approach the bottom of the given trend line, I am interested to watch the next few days. If the buyers struggle to stabilize or support it, we can expect a) an extension to this prediction date b) hopefully just a false breakout with a quick recovery. I am pretty new to this so that would be pretty cool if I nailed this one down. Anyone have opposing views or anything to say, please let me know.
ONE/USDT Recovering after the bitcoin dumpOne Harmony already gave us a 5x and dropped together with Bitcoin and the whole market this week.
We found some support (green line) and are currently recovering and looking up again.
Maybe we need some more momentum but the moment seems near to produce some new All-Time-Highs.
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Cheers
ps.
Chart explanation:
Green lines are tested support lines.
Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
Cyan line is for volume trendline.
Purple lines are trendlines we take a look at.
Yellow lines are for visual help only.
LUA/USDT LongLUA/USDT is looking to revisit All Time Highs
There is not too much to say about this chart except:
-There's a lot of thin air between current price and
previous ATH
-Fib retracement lines may not act as very strong
resistances but are good to use as a general outline
of where resistances COULD be
-MA30 is about to flip above EMA100 for the first
time ever
-Volume is massive
-Being bullish here will likely pay off handsomely
LuaSwap is a decentralized, community
governed, Automated Market Maker multi-chain
liquidity protocol built on the TomoChain blockchain.
They look to support the addition of liquidity to
smaller upcoming tokens instead of competing
with more popular AMMs like UniSwap or SushiSwap
for larger more well known tokens' liquidity and
fees.
🔥 ADA All Time High Break-OutADA has seen some incredible growth in the past year, seeing more than 5,000% gains!
At the moment, ADA is on the verge of breaking through the ATH resistance of 1.20, which could on turn trigger a new bullish move upward. This trade is based on that idea.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart I’ve marked two potential areas of resistance, 1.30 and 1.50. Do your own due diligence.
Happy trading!
$ORN: Follow up on predicted correction!Well look what we have here. Orion Protocol is behaving in an incredibly clean manner. After my posed question of "time for a dip", we saw a pretty swift and violent wick down to the .382 fib and a beautiful confluence of the fib paired with the lower .5 pitchfork prong that acted as support.
Now we're looking at a pretty ridiculous recovery with ATH's already being broken only 12 hours later.
4hr right: Has quite a few lines on it... but they're simply the pitchfork mixed with the fib retracement levels, and a Bollinger band hybrid. The arrows I've drawn on the screen indicate the things that I'm looking at as confirmation of the PA respecting those technical indicator levels. Now that we're basically back in price discovery? At least for the moment? I would expect the upper 1.5 pitchfork prong to be tested again, especially if the 4 hour closes above it. If it breaks? Then I'd expect to see the subsequent pitchfork / fib levels tested. If you were going to buy the dip? That was probably it, if you're still waiting to pull the trigger? I'd wait for confirmation above the current pitchfork prong that is providing support at the moment.
Daily left: The daily shows us an incredible wick and subsequent bullish recovery. Honestly corrections like that, where the buyers step in so rapidly, shows strong trend, and bullish momentum. Just because some whale decides to dump a crap load of a crypto on a market sell, doesn't mean that people aren't ready and waiting to scoop that up.
Fundamentally: $ORN is still very very undervalued. As we see projects like $BNB pump to ridiculous levels, we're also seeing #Dex's pump as well. It's only a matter of time before truly novel platforms like $ORN, that provide a market wide aggregate to all the exchanges and their liquidity, pump to the moon.
Altcoin Psycho pointed out that a bunch of BTC options expire at the end of this month and that we should expect more volatility. If you're looking to scalp this or day trade I'd be very very careful. I'm only buying spot here and holding until we see parabolic blow off tops from the majors. Then I'll consider selling my Orion position
MSTR LONGI am late to post this trade.
I am in this trade myself.
It is negative at the moment. I guess it is better than posting a trade that I am in the black at the moment as people may comment that I should have posted earlier.
To buy the 1st pullback after an All Time High is also a possible strategy. However make sure you are consistent. I am still entering on stocks that make All Time High. This is just a value trade so I am sharing this.
All the best.
🔥 AION All Time High Break-OutAION has managed to produce a new all time high earlier today after seeing some crazy gains over the last couple of weeks. A lot of smaller crypto's have been making new ATH's lately. Often, the ATH kick-started a strong bullish move upward. This trade is based on that same idea.
Before entering the trade, wait for the daily candle to close above the ATH resistance.
On the chart I’ve marked two potential areas of resistance, $0.28 and $0.35. Do your own due diligence.
Happy trading!
IOTAUSDTPERP Rising Wedge Coiling UpIOTAUSDTPERP is going up in rising wedge. Breaking the wedge is possible in couple of days at most. Breaking the wedge downward is more likely than upward. In case of breaking downward, we can find the price about 1.1 dollar levels. However, if the price would break otherwise, we can easily say that 2 dollars levels are closer than we could think of. Although rising wedges are more likely to be broken downward, I expect IOTA to break the wedge upward and achieve new all time highs. I do not think IOTA will be seeing 1.2 dollar levels.
🔥 BNB Falling After Monstruous Bull RunBNB has caught the eye of every crypto investor in the market while it gained almost 700% in less than three weeks.
It appears that investors are realizing that BNB is currently severly overbought and in for a correction.
I've marked two areas of support, $250 and $200. Both targets are reasonable, should the current bearish move continue.
Happy trading!