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Bounce

BTC Turns bearish on Daily - ShortBitcoin has dropped below the 20week and 200day moving averages for the first time since April 47th, 2020. With a triple bearish divergence, a break of the pitch fork trend and floating below the 20wk MA..I cannot help, but read this as bearish in the short term until we secure a weekly close back above the 20wk MA. Not sure how much lower we could go, there is no telling. How much longer until we reverse, unsure. Is this the end of the bull run? I don't want to believe so, but you cannot deny the chart. There is aways time to return when the whales give us a bullish sign that things are reversing, but I don't see on the chart right now. I remain bullish in the LONG. This is not financial advice, It is only my opinion.
COINBASE:BTCUSDShort
by MFGroon
Gotta love those dipsSo price has seen a huge reset and we might as well not be over with it, is 30K our bottom? one thing is sure, if it want it can drop even further... What are the good news though, it's a hell of an oportunity to buy cheap, if you want to be in the crypto market, you need to be ready for this kind of movements, it's not easy, I know, but this is not for the faint heart. If market makers are happy with the drop, then we will see an amazing bounce. If you have been trading for a few years already, then you know how this things work out, if you don't welcome to crypto. This is not financial advice, this is just a kind reminder of the intrinsic volatility this market has, right now, we could have just seen the worst of it as well as it can continue, just keep calm and watch the smart money play.
BYBIT:BTCUSD.P
by DonTuzi
USDCAD Bounce PlayGood day traders, USDCAD has been on a down trend since Dec 2020 when the major support on the 1.3000 broke. The price has been moving within its downward channel . A possible Bounce play could happen since the current price is now sitting on the channel support line and horizontal support line at 1.20900. If this level does not break, then there is a high probability of a bounce. Another catalyst that could propel this move is the inflation rate of the US this day. If the data favors the USD, then we will see a bounce play happening for the upcoming days. If the prices manages to breakdown the 1.20900 level, it will bring the price to the next support at 1.19200 If you like this idea or any comment about it, feel free to comment. I am happy to hear your thoughts.
Long
by ginfrix
Doggy to bounce off Tline? or back to wedge?What now looks to be a market setup for a Head and Shoulders could likely be a beautiful setup for a quick bounce off the wedge upper trend line, this means a speedy movement to the psychological levels of a $1.00. On the other hand they could choose to accumulate more money before blast off, which would mean that we would start the H&S process back into the wedge trend ultimately waiting a week or so before take off, also if H&S structure starts to form we can most likely except for the last shoulder to be a fake out breaking out into higher record levels for Dogecoin. NOTE: Musk's appearance on SNL will be like Doge Day with the slow delayed effect on DOGE movement. But ultimately we reached desired levels. Hodl!! but be smart and play your cards right. This is strictly my speculation on Dogecoin, DO NOT INVEST WHAT YOU CAN NOT LOSE.
BITTREX:DOGEUSDLong
by CEO_Alvarado
More Bearish Pressure on the NZDCAD The NZDCAD is about to test the strength of the ascending trend line. If it manages to break down below it on the third attempt, this would likely allow the pair to probe breaking even further down south - towards the previous swing low. Upon completing the last 1-5 Elliott Wave Pattern, the pair is currently developing a corrective ABC pattern. Notice that the AB retracement is taking the form of a Dead Cat Bounce, which confirms the bearish expectations. Moreover, the Bounce peaked below the 50-day MA, which represents yet another selling indication.
Short
by Trendsharks
3
Bitcoin long !! next leg up + 100% ?!NEW LEG UP STARTED Many Krypto traders might have noticed the latest drop in BTC which cleared the current market from many weak hands holding the coin. For many this was a very good entry point. However, in this post I want to draw your attention to the fact that the MA 50 on the daily chart was the most significant support since the beginning of the current Bull run starting with October (left chart). When prices fell below the MA 50 this was a shock for many traders (not for HODLERs though) as it might have been the final reversal sign. Luckily the chart perfectly bounced from the MA100 catapulting pries back into the upwards direction. As of yesterday BTC closed above the MA 50 which might be a perfect entrance for the next leg up after this stronger pullback. Even though we had 2 strong increases in the last days RSI looks still very relaxed which further underpins my hypothesis. When comparing this with the 2018 bull cycle you will notice that the prices (when the decline started) also bounced back from the MA 100 but then were not able to get back above the MA 50 which eventually lead to the final collapse (right chart). This time it’s different and I like it !!! This analysis is obviously rather a short term one and is not related to a HODL approach which of course also has some very serious advantages (taxes, less stress etc..). I opened a speculative long position today hope works well. Happy to hear your views on this Bullish MA sign.
Long
by RobbybubbleX
1
BTC's bounce, where can it go?Not financial advice, DYOR We have seen BTC (and some alts as well), dump for a week, but as I said like 10 days ago, that is how markets work, pumps and dumps. BTC is a little bit overextended now hovering over the Hi-average daily range, so we could be in for a retracement, test of the 50 EMA and then if it holds and goes back up, we will have a continuation to the upside, It can also dip again as nothing is granted in this game. have a good day!
BYBIT:BTCUSD.P
by DonTuzi
weekly pivot retracement bounceI think we will perhaps see technical bounce to at least the developing pivot as we always do with new weekly pivots. however with one half day of price action remaining it could be brought down lower or up higher before that magnet is set in stone. So if you are playing the bounce from here you could use daily camarilla l4 as stop loss as we are currently at the l3 which is,projected range low. or alternatively you could use dca in small incriments until that developed pivot is locked in or bounce has initiated. As always pay attention to money managment and be careful. I am looking at camarilla pivots weekly and daily levels. If bounce does,work out you might secure some profits at daily h3 in the 50.8 or so area. and then developing weekly. 51.5 to 52 as it is currently and then see how it goes from there.
Long
by Gunslinger2005
1
Bitcoin: Falling towards 45k? Or is now the time to buy?BTCUSDT broke three trends in the last 7 days. The closest horizontal support I see at $ 45,000 (-10% from here) but not all is lost. There is a good bounce happening that may allow us to make a third trend reclaim, plus we are bouncing off the 100MA and 100EMA at $49,500. We can see that in the previous market cycle of 2017, the 50 Day MA acted at least 6 times as excellent support, but when it failed, the 100MA stopped the dip in most cases. I believe that if the price returns and closes daily above the trend and above the 100MA and EMA ($ 50,500), there may be another solid bullrun without serious consequences. If instead there is no strong bounce and we close the daily below $ 49,000, I think the only option would be to fall to $ 45,000. BTCUP also supports this idea as seen below.
BITSTAMP:BTCUSDLong
by JRuiz000
2
Bitcoin likely to bottom around 44k.Hi there, Here is my analysis on the current bitcoin situation: The 21week moving average has proven to be a good indicator for finding the bottom in previous bull runs. I think this time will be no exception and we are probably heading for it. The 21week moving average currently lies around 43-44k. Next to that there is a also rising wedge pattern playing out. The target of this rising wedge can be calculated by measuring the height of the wedge: The 42/44k range. Finally, by looking at the RSi we can see that its starting to hit the oversold condition, this can also signal that a reversal is near. Thanks for reading, and if you like this analysis you can give it a thumbs up. Thank you :) Greetings.
BITSTAMP:BTCUSDLong
by CivilisedWolf