SOLANA - How To Trade Within StructuresSolana has recently broken the ascending channel and we can may now be on a bearish leg. We have 3 major structure levels where we can watch for price action to tell us what is next; either a bounce off structure or a break and retest of structure.
There are 2 ways in which we can trade these structure levels.
Break & Retest
For a break and retest trade, watch for price to break a structure level and then retest it. Enter with stops above the structure level and take profit next structure level.
Rejection/Bounce
For a structure rejection trade, wait for the bounce and then enter with stops below the structure. Target the next structure level.
Altsignals
opportunity to buy Zil?hey guys,
support/resistance lines are shown.
right now we are in a good spot to buy the first step in my opinion!
target is ATH(=~ 15cent good point to take profit)! however, we must always see how BTC doing after that go buy altcoins.
never forget investment principles and do your research before investing.
good luck.
CARDANO - Going Intergalactic! 🚀🔥Cardano has been one to watch recently with really high volatility.
We can see that ADA has been making a series of impulses and corrections and we appear to be in a correction now.
We are within a falling wedge and we recently tested the 61.8 fibonacci and rejected it, which also falls in line with the parallel channel support. We could just consolidate here for a little while and even go beyond the channel before we get a move. They key area to watch is the descending red trendline for a breakout as that would confirm the correction has ended.
Trade Idea:
- Watch for a breakout of the falling wedge
- Enter with stops below the recent swing low
- Target the recent highs as first TP and the -0.27 as second TP.
What do you guys think? Leave your comments below!
Ethereum - Impulse · Correction · Impulse 🔥In our last Eth analysis we explained how there will be another correction appearing soon, which we got now.
There are 2 main phases which can be clearly seen, Impulse and Correction. Our job as traders is to identify the corrections so we can catch the big impulse moves. However, we can also trade the correction whilst we get ourselves ready for the impulse.
We had an ascending trendline (red) in place to indicate when the impulse is over and when the correction begins. Price broke the ascending trendline impulsively, indicating that the impulse has ended and we are now seeing the correction.
Trade Idea:
- Watch for price to pullback to the structure level indicated
- Enter shorts when there's a rejection with stops above the rejection
- Target the ascending trendline where we have multiple confluences for the next impulse move
See the linked chart for our previous Ethereum analysis.
Leave your comments below and let us know what you think.
DOT - Don't Miss This Bounce!DOT has multiple factors indicating that we may be getting a bounce soon from the 38 level.
We have:
Structure
38.2 Fibonacci
Ascending Trendline
Trade Idea:
Watch for price to reject the level indicated and enter with stops below the ascending trendline.
Target: recent high for first TP and -0.27 for second TP
If we break below the ascending trendline, our bullish outlook will be invalidated.
Bitcoin Cash - Higher Timeframe Overview Bitcoin Cash has been showing clear price action indicating what's next.
We recently had a massive move down after a double top and now we are in an ascending correction. We retested the 78.6 fibonacci and rejected it.
We could trade within the ascending channel back to the highs. If we do break the ascending channel, we could make our ways back to the 400 level.
FANTOM - Multiple Confluences Fantom is approaching a high value area where we can look for longs.
We have the following confluences supporting our idea for BUYS.
- Major trendline
- Daily EMA which price is respecting
- Structure which price has respected numerous times
- 38.2 fibonacci
Trade Idea:
- Watch for price to reject the 2.48 level
- Enter with stops below the trendline
- Target recent highs for take profit
If we do break the trendline and Daily EMA, we can switch our bias to short and we'll upload a short set up.
MANA - Don't Miss This Breakout!In our last Mana analysis, we were looking at the higher timeframe and identified that price could retest the base channel and fibonacci before moving up.
We had a nice move down and retested the channel perfectly and moved up 70%! We could be in a flat correction with a double bottom forming soon on the base channel.
Trade Idea:
Watch for another retest of the base channel and enter with stops inside the channel.
If we break the red trendline early, enter with stops below the recent lows.
First target will be the recent high and second target will be $6.
BITCOIN - Watch For This Breakout! There's been some uncertainty around crypto as of late with coins breaking all-time higher yet again and some speculation about the crypto bubble bursting. The best thing to do in these circumstances is play what we see.
So what can we see?
1. We are in an ascending channel
2. We came from a major impulse (from 40k to 67K)
3. We could be in a flat ABC correction
Trade Idea:
Watch for the C wave of the correction to finish between 56k and 58k. Wait for a bounce and then enter with stops below the ABC correction.
Targets: -0.27 fibonacci as first targets
SOL - Catch The Bounce!Solana is at a very interesting level. We have 3 confluences supporting the long idea:
1. Structure
2. Fibonacci
3. Ascending channel support.
For confirmation, watch for the red descending trendline to break. For a risk entry, watch for a bounce off the structure and enter with stops below the channel.
Targeting the -0.27 fibonacci which lines up with the channel resistance.
EOSUSDT Technical Analysis
⏳ Spot
💎 EOSUSDT is moving in the ascending channel, it has got rejected fro m the bottom of the channel and potentially it will go up to the upper band of the channel. After the breakout we can expect more bullish move
🌐 Tradingview
💵 Invest Only 5% of your Portfolio
🎳 Entry Now or from 4.633 to 4.953
☕️ TP1 5.222
🍺 TP2 5.660
🍻 TP3 6.305
🍾 TP4 7.000
🍷 TP5
🍸 TP6
🍹 TP7
🎁 TP8
🚫 SL 4.633 to 4.117
Good Luck 🎲
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ANKR - Breakout Pending...Ankr is currently within a pennant formation and price is being squeezed towards an apex. Due to the recent volatility and spikes, it is unclear whether it is a bullish pennant or bearish pennant.
The best way to enter this trade is wait for price to break the pennant formation and then enter on a retest or a flag pattern.
See below for Daily timeframe:
Which Dog Are You Betting On? 🐶 🐶Who would have thought that we'd have a battle between Dog coins?
Here we have 2 of the most hyped coins as of late; Kishu Inu and Shiba Inu.
Both spiked up a ridiculous amount at the same time and are showing almost identical price action.
It has been rumoured that an anonymous crypto whale has recently purchased 20trillion Shiba Inu Tokens worth $1.13billion! This could potentially drive Shib to the moon, leaving Kishu in its dust.
Trade idea:
Wait for a strong bullish breakout before jumping in. Price can just consolidate for a while before we get a real move so be wary.
Which dog are you betting on? Leave your comments below!
FANTOM - Buy The Bounce! Fantom has been breaking higher and higher for a long time now. We can see that there have been multiple times where we broke structure and retested it.
We are approaching a recent structure level now where we may get a bounce. Keep an eye out for a bullish bounce and enter with stops below the bounce.
If we do not get a structure bounce, watch for price to bounce off the ascending trendline.
SFP - Is the Hype Over?After the massive pump early last month, there has been very little action.
From the volume indicator we can see that since the spike in October, the volume has decreased substantially.
This could mean one of two things.
The hype is over:
Could mean that this was just a pump and dump and this coin is pretty much finished.
Something BIG is coming:
Some of the time when there's very little volume, its because the market is setting up for something spectacular, similarly to what we saw in October. There was very little volume before the spike.
We have to structures on the chart and will be looking for a breakout either way.
AVAX - Take Profit Hit! Whats Next?In our last AVAX analysis, we were waiting for a breakout to enter with targets of 92 (-0.27 fiboonacci target).
The 80 structure level is approaching and that would be the ideal place to enter for a continuation trade.
Trade Idea:
Watch for price to correct back to the structure level at 80
Enter on bounce of structure level
SL below the structure
TP: 106
Please use appropriate risk management as this move is overextended so there might be a deeper pullback.
FTX Token - ATH? 🤔FTX token recently made all time highs but the quickly dropped back down.
It broke the major trendline, which tells us that the uptrend is growing weaker. We are now struggling to move up back to ATH's.
Will be keeping a close eye on this and if we correct all the way to ATH, could be the making of a great short!
However, if we see any bullish corrections now, we can get in with stops below the red trendline.
VET - Important Breakthrough!Vet recently broke through an important level where price struggled to get past twice before.
The 1.60 level has proven to be an important price to watch. Now that we have broken through, we can look for long opportunities on the retest of the structure, and ideally a touch off the ascending trendline.
Look for lower time patterns for confirmation!
MANA - Weekly OutlookMana had an explosive week last week with price moving around 600% in a single week!
We are now waiting for the next buying opportunity. We have 2 areas which look to be the best areas to look for possible long entries.
First area:
Channel retest + 61.8 Fibonacci
The price to look at is the 2.30 to 2.40 level.
Second area:
Structure & 78.6 Fibonacci
The 1.60 level holds a lot of value as price was stuck there for almost a month. We could potentially retest that level and then make move higher.
For both areas, drop down to lower timeframe and look for reversal patterns or breaks of structure.
The Big 3 - To The Moon 🚀There's something big coming...
Bitcoin, Ethereum & Litecoin all appear to be entering the corrective phases soon with Bitcoin edging ahead, as it has already started its corrective phase. As we all know, after a corrective period the next phase is an impulse!
If we compare all 3 charts, we can see that theres an ascending trendline supported by fibonacci, which looks to be the key area to look at for buys. The move down can be traded but with all the hype around crypto, it would be risky. Tradeable... but risky.
Crypto can be moved 100's of % with just one tweet as we have seen recently. Being reactive is key to longevity in the trading business. Even though we are seeing this price action now, does not mean price will do exactly as we anticipated.
We will stay adaptable and be reactive to whatever price action the market gives us!
Crypto To The Moon!
LITECOIN - Enter Here 🎯Once we zoom out to the Daily timeframe, we can see that we are in a pennant formation. If we do come down from here, the best place to enter would be one of the fib levels (and ascending trendline).
Trade idea:
Watch for a daily close below the ascending red trendline to confirm bears.
Short until the ascending trendline.
Once at the ascending trendline, look for buys!
ETHEREUM - Going Sky High Soon! 🚀Ethereum has been one to watch recently as it been making really clear impulses and corrections.
We recently broke all time highs. Its natural for the market to have a brief relief period (correction) before the next impulse.
The best place to look for buys would be the bounce off the ascending correction.
Trade Idea:
We have the red ascending trendline to indicate when the impulse has ended and when the correction has begun. Once the correction begins, look for shorting opportunities back to the ascending trendline.
Once we're back at the ascending trendline, look for buys and HODL!