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The Dollar is Still BearishA lot of folks are in belief that the DXY has turned bullish. When zooming out on the monthly one can see that the bears are still firmly in control. 3 bearish indicators on the monthly illustrate this: 1) Breaking of an upward sloping demand line to the downside exactly one year ago. 2) A large, bearish head and shoulders-type pattern that broke its neckline when breaking the critical demand line mentioned in #1 3) A new, bearish downward sloping supply line currently rejecting the DXY as it has been doing since first breaking the neckline/supply line mentioned in #1 and #2. In conclusion, a break and close below 88.42 would be checkmate for the DXY bulls, which could mean very bullish things for stocks, gold and cryptocurrencies.
TVC:DXYShort
by TradeVibez
BTCUSD Monthly 21 EMA significance and pin pointing past bottomsLooks like we are heading to test monthly 21 EMA as support, in the next upcoming month. We may make a bounce a little bit before hitting our Monthly 21 EMA but a Lower High will set the tone for a downtrend continuation. If we look at the past and how BTC reacted with the monthly 21 EMA. We could see that after rising up to its highs in DEC 2017, and JUNE 2018, that the market came down to test 21 EMA as support. the 2017 run held 21 EMA for a whole year before making it's crash to 3k. As we can see then, after the 21 Monthly EMA was broken, we had a 50% flash crash and found bottom. Same with JUNE 2018, although this was just the COVID -19 crash but it had the same effect when 21 Monthly EMA broke support, we had a 50% flash crash and that was the bottom for that cycle period. A 50% flash crash from 21 Monthly EMA as of right now we would hit, 12k BTC.
COINBASE:BTCUSDShort
by Detective_Conan
XRP - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. XRP is sitting around a strong weekly support zone in green so we will be looking for buy setups. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? on H4: XRP is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, XRP would be overall bearish can still trade lower. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:XRPUSD
by TheSignalyst
38
Bitcoin is likely going lower.. but not just yetWyckoff distribution is so very painfully obvious. I thoroughly enjoy when the big swingin 🍆's with giant piles of cash don't attempt to hide their tracks, because they don't think they need to.. and normally, they don't. Most countries cannot compete with trillions of dollars in capital that's also likely leveraged. There's not a doubt in my mind that the primary driver of bitcoin to these prices is old fashioned naked short selling. There is simply NOT ENOUGH BITCOIN for these sales to happen, but when you have enough cash -you're not worried about covering your shorts. A topic for another day, but if you didn't get the "hint" in early 2018 when the newly initiated bitcoin joined the likes of paper Gold and Silver at the CME -the futures market not only drives spot price (of bitcoin ), but it damn near controls it. However -there will come a point where supply runs out -especially if and when these sellers are caught with their pants down and unable to supply bitcoin for the buyers they're "selling" to. An outcome that will likely only result in many losing the bitcoin they thought they had purchased, but unable to withdraw from the exchange -because the bitcoin does not exist. This irresponsible tactic is illegal and has been since 2008, HOWEVER -it's not illegal on the open spot market for bitcoin . We went over the possibility of a bullish RELIEF RALLY in my last post, and that’s most likely what we’re seeing here. PA has already pushed above some pretty critical resistance, but has done so with relatively LOW spot volume . (**low spot volume does NOT necessarily mean that the move is going to be rejected. Low volume + decreased supply (should) = higher prices). Bitcoin is above the 34 WEMA, which is a pretty good sign for the bulls, however -it has not yet made it up to test the 21 WEMA and corresponding $40K resistance levels just yet. ((this is also critical resistance for a Wyckoff Distribution)). BULLISH SCENARIO: - Should BTC break across the 21WEMA and through $40K resistance, then I will become a bit more bullish in my sentiment. - While a break above the 21 WEMA is definitely a great sign for the bulls, if they cannot push the price above the $52.255 price area, then we will likely see the price head back down towards $30K, possibly lower. - A break above this price level would be EXTREMELY BULLISH , and bitcoin would likely break $70K very quickly. BEARISH SCENARIO: - A rejection at either of the two resistance areas mentioned ($40K and $52.255K), then a move back down to re test lower levels is likely. - There is a TON of confluence at the $22K price level ($21.724K) - There is also a bit of confluence...all the way down at $9.615K. Right now it's just a bunch of observing. Waiting. Planning -looking for a "tell" one way or another. A move ALL THE WAY DOWN TO $9.6K would be the greatest gift and should it fall down that far, we'll be ready. ALSO -keeping a lot of my coiniage on exchanges at this point in time does give me a bit of anxiety, so positions are adjusted for risk -but still set up nicely should this thing resume its regularly scheduled bull run. MEANWHILE -a BTC move up towards the $52K price area, followed by a rejection and move lower -would be INCREDIBLY bullish for ALT COINS, but we will see. Traditional markets look RIPE for profit taking. - TNX is falling sharply - DXY is about to breakout - SPX , DJI -all look like they're (finally) losing some steam. I see the DXY getting anywhere from a 3 - 9% bounce, both of which would require a massive liquidity event.. and the only place I see that much cashish coming from are the old traditional stonks. BTW... HAVE YOU SEEN THE GOLD SPOT CHART? on the WEEKLY or MONTHLY? HOLY MOLY -That's a MASSIVE cup and handle (i'll post a chart after I publish). I think the signs are pretty clear, but I learned a LONG time ago to check my "confidence" at the door -but this one is staring us all right in the face. Some days to note: June 21, June 25, and July 12. June 21 and July 12th are astronomical. June 25th is the QUARTERLY CME Settlement date. It's gonna be a really neat month. What are you all seeing? Are you bullish? bearish? Neutral? why? Intelligent thoughts and opinions welcomed! CheeriHO
BITSTAMP:BTCUSD
by BitCapJNY
4
Bitcoin/ USD Bullish Bat Pattern Hello all my Crypto traders. I hope none of you panic sold your positions... As I don't follow BTC or any crypto news i am not sure what spurred this much needed sell off, but if you're looking to re-up on your positions this is the time. About a week or so ago I drew a 707 ABCD pattern and the pattern held up but ultimately failed. Now, we have a Bullish Bat Pattern that the 886 level seems to be holding quite nicely. if todays candle closes as a long wick you might be validated to enter a trade set-up based on your strategy and risk appetite. if you're investing in crypto i assume your risk appetite is quite large. now if you like to buy and hold this is the time to go in on bitcoin at a major discount. Now, wish the Dow Jones Industrial Average or the SPX500 would correct like this because a move like this is freeing up some liquidity in the market. think of it as a rocket ship that blasts off and everyone throws their wood into this burner and the rocket takes off higher and higher and the burner gets so hot that the wooden logs they have burn up before they have the chance to throw their log inside all the while everyone has used up their logs and have to go out to cut down more trees to get more wood. so, this lack of fuel causes the rocket to lose power and it begins to fall. now the burner has reached a decent temp for people to add more wood. to keep the rocket going. we see this problem in the stock market now as its very apparent that there is more money being printed to pump the market up as the market keeps going higher and higher with no correction (this idea of Quantitative Easing). if youre a crypto trader and looking to get in a quality crypto then this is your time to add to your position. Don't go run and hide when the market goes on sale when you flood the Walmart parking lot on black Friday (United States Analogy) for the biggest sale of the year. this is the time to buy!!!
COINBASE:BTCUSDLong
by ARegularGuy
2
Game of feeling and logicHi everyone I hope you are well In the previous analysis, we identified a support zone and explained the conditions under which buying in this zone is reasonable and in which case the price will fall, and as a result, the price, as we said, based on the assumption of breaking the zone to the resistance support line Came down. Here we have a strong support zone at 40,800 to 45,000, which is very important, and the price will probably go down to 40,000, but it will probably have an upward correction to 51,000 and then go down again. But the chart has the ability to go down to 40,000 at once. Be aware that breaking this zone and stabilizing below this price is dangerous. 📣 Attention 📣 ⚠️ 1. We publish this trading idea to help analysts, so if you have an idea that you think is right, do not be influenced by this idea. ⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis. ⚠️ 3. If you have an idea, write to us in the comments section, we will be happy to use your idea in our analysis.
COINBASE:BTCUSD
by fx_iranian_traders
BTCUSD Trend Reversal Update. BTCUSD giving us a bit more confirmation of a Trend Change with a Lower High after falling out of 6 Month pink channel. Although not set in stone just yet, we are likely to range sideways until our 60K resistance breaks or 45k support. But 45k support is crucial as you can see in our weekly chart below. 1 Weekly. We are testing 21 weekly EMA for the first time since OCT of 2020. If broken, we might be setting ourselves up for a Lower Low which is the missing link for a downtrend.
COINBASE:BTCUSD
by Detective_Conan
Multiple Confirmations For The ShortI have multiple confirmations for the short to last at least a few days or for the week. We have a bearish engulfing on a daily timeframe plus, we also have multiple bearish engulfing candles on the 4-hour chart after the monthly level was respected as resistance. So one of two things is going to happen: this will be a pullback for another bull run, or we're about to do another nosedive to make a new lower low. Let's find out. BULL TPS: • 58096 .71 • 59603.93 • 61359.15 BEAR TPS: • 55750.00 • 54364.99 • 52953.39
BITSTAMP:BTCUSD
by NikaJourney
Bitcoin Bounce to 55K-57K AreaUsing the Tom Demark Sequential System on the daily chart we look to have a 1 to 4 Day correction to the upside toward the area of the breakdown/previous support after a full 9 Day count to the downside. Also the selling looks exhausted on the rsi. Once we get close to resistance I will be putting in a stop loss to preserve profits. I do think this is not the end of the bull market but a major pull back to the low 40k area or lower would be painful.
COINBASE:BTCUSDLong
by noahkeene