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Coinbase Textbook Bottoming Pattern Found Hi Guys! This is a Technical Analysis of Coinbase (COIN) on the 1 week timeframe. As you can see we have drawn out a Inverse Head & Shoulder Pattern forming in COIN. This is a textbook pattern as it follows to the t the necessary criteria both in price action and volume. Stages of the Price Action Downtrend to form Left Shoulder The rally from Left Shoulder does not breach the Neckline Downtrend from peak of rally to form Head The rally from the Head also does not breach the Neckline Downtrend from Peak of rally to form Right Shoulder The rally from the Right Shoulder breaches the Neckline A Return move from the breakout back to Neckline -> This stage we are currently playing out Volume Signs of Textbook Inverse Head & Shoulder 1. Left Shoulder has taller volume bar (higher volume) than Head Volume 2. Lighter volume or shorter bars seen for Head than Left Shoulder 3. The rally from Head to Right Shoulder has increasing volume that exceeds volume of the rally from left shoulder to neckline 4. DOwntrend to Right Shoulder -> shows a declining volume bar height / declining volume 5. Sharp Spike on Volume during rally from Right Shoulder to Neckline breakout 6. Declining Volume during current move, the Return Move Thoughts: Both times we rallied from the shoulders we reached a Resistance zone and got rejected. I believe we are currently in the "Return Move" to test the Neckline as Support -> The areas i am looking is: 1. 0.5 FIB Level, this is also where the 21 EMA converges so a Support zone to watch This area is important because it is the "Golden Zone" for FIB, as well as where the 21 EMA is at. This makes this area a place to observe for potential bounce. Though i believe this to be short lived. 2. Testing Support on the NECKLINE SUPPORT line 3. This one is least likely but nevertheless still possible, the 0.382 FIB Level, a potential scenario being a WICK down from testing support on Neckline After testing these levels i believe that Coinbase will start its Bull run where it has tremendous growth in market cap A first target would be breaching the Resistance zone and confirming it as Support. Take a look for yourself. Experts let me know what yall think! Stay tuned for more updates on COIN in the near future. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:COINLong
by SafofAllTrades
2
Beyond Meat Bottom Pattern Formation SpottedHi Guys! This is a Technical Analysis on Beyond Meat (BYND) on the 3 Day Timeframe. I believe we are in the process of forming an Inverse Head & Shoulders Pattern. Currently in the process of solidfying the Right Shoulder. Which i believe will/ can take couple weeks to form before rallying past neckline. So far every part of this pattern has been textbook. SUCH THAT -> Every part of the Head & Shoulders that formed, the VOLUME has reacted a specific way. Stages of the Price Action 1. Downtrend to form Left Shoulder 2. The rally from Left Shoulder does not breach the Neckline 3. Downtrend from peak of rally to form Head 4. The rally from the Head also does not breach the Neckline 5. Downtrend from Peak of Head rally to form Right Shoulder 6. The rally from the Right Shoulder breaches and moves above the Neckline 7. A Return move from the breakout back to Neckline 8. Test of Support and a bounce from here going above the peak of Right Shoulder Rally So far we've hit Stages 1-4. We are currently in the process of forming the Right Shoulder and completing stage 5. We need to pay attention on the completion of the Right Shoulder and the next stages of the Inverse Head & Shoulder, particularly this next potential RALLY. It MUST Breach and move above the NECKLINE. Volume Signs of Textbook Inverse Head & Shoulder 1. Left Shoulder has taller volume bar (higher volume) than Head Volume 2. Lighter volume or shorter bars seen for Head than Left Shoulder 3. The rally from Head has increasing volume that exceeds volume of the rally from left shoulder to neckline 4. Downtrend to Right Shoulder -> shows a declining volume bar height / declining volume After the formation of the Right shoulder we need to see: 1. Sharp Spike on Volume during rally from Right Shoulder to Neckline breakout 2. Declining Volume during the Return Move So far so good. And we need to continue to pay attention to make sure all the criteria is being hit. Now targets for Right Shoulder Rally, is hard to tell. BUT the previous rallies could not pass the RED RESISTANCE ZONE. So im thinking we can move into it but we dont get ABOVE it. We need to watch the VOLUME -> there has to be a sharp spike on volume during this rally. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on BYND in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy
NASDAQ:BYND
by SafofAllTrades
3
Bitcoin Bottom Reached??Hi Trading Community, This is my first post and I thought I will share my idea to give back as well so please bear with me if this post is not perfect:). There is a lot of talk at the moment about if the bottom of Bitcoin has been reached after an eventful week or are we going further. Having a look back at price action on BTC/USDT on Binance. When looking a time cycles from mid 2018 (sorry my char data doesn't reach further back) seems that Bitcoin has every year around mid June a good track record of reaching cycle highs or lows. June 2018 was a bottom with positive price action after June before we finally dropped of the cliff in November 2018. 17. June 2019 was the market top. 22. June 2020 was the bottom of a minor (about 15%) retracement before the market took off again to the early 2021 high. 21 June 2021 was the weekly bottom before we hit the all time high late 2021. The question is do we have another mid June 2022 date with a bottom? You are never 100% sure but looking there is a lot of support for this. 1.) We had a week of strong sell off's with high volume which often is a good indicator that a bottom has been reached. 2.) Have a look at the Fib Levels from the 11. September 2017 low to the all time high. Can you see something? These levels have been well respected over the years but mainly we just hit the 61.8% retracement level from the all time high which is 20,334. This level is also very close to the ATH in 2017. You can also see that this same level was well respected in November 2020. It has taken about 3 weeks of price action and after a clean break the market continued to go higher. 3.) The RSI has reached the lowest level it as been. Based on above my personal opinion is that the market has reached a bottom at this point in time and we should see some positive price action in the coming week. Does that mean Bitcoin can't retrace further? It certainly can but based facts we should see a relief rally first. Feel free to comment on it and share your thoughts. Keep in mind that this is my own view and you should do the same before you decide to take any action. Thanks Ralf
Long
by rboepple
Trading Bottom/Top Finder Bitmex XBTUSD Bitcoin SignalsBottom / Top Finder just gave the signal to go long a couple hours ago, and already have topped out over a 4.0 risk/return ratio! With no top signal yet, we are holding the position for proper exit. Both false signals shown could have been exited in profit but since the indicator did not signal it, we consider it a stop loss hit for those 2. (17/19 correct is pretty good - 89% win rate!) As you can see if you zoom in - marked entry/exit targets are not based on absolute high/low of the candle. I try to place them in a somewhat realistic context to show more accurate results (what a concept!). Trials are available, and we are currently running a 25% off sale! (no subscriptions - you buy it - you own it FOR LIFE!). Bottom Top Finder 2.7 will be released next week adding more user customization and multiple time frame signals!
BITMEX:BTCUSD.PLong
by theheirophant