Get started

Bounce

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
Opportunity to Sell GBPNZD's Dead Cat Bounce The GBPNZD pair appears to be forming a new Dead Cat Bounce pattern, which typically signifies likely bearish reversals. An opportunity to sell around 1.94500 (previous swing high) may emerge, provided that the price rebounds from the 50-day MA (in green) and 100-day MA (in blue) for a second time. It did the same during the establishment of the first Dead Cat Bounce. If the price breaks down below the support at 1.92000, then the subsequent dropdown will likely test the psychologically significant support level at 1.90000. New Zealand's CPI numbers and UK's unemployment data, both scheduled for publication on Tuesday, are likely to cause heightened volatility. This could serve as the catalyst for the expected bearish reversal.
Short
by Trendsharks
BTC bounce soon at crucial support?BTC is currently holding at some rather crucial support from the long term trend (white line). On the positive side, support has not definitively broken on price nor RSI, so very well might bounce (although it is right at the precipice, so there is understandable concern here). There is also still the possibility that this is still just retracement at the 61.8% Fibonacci level from the latest uptrend. Additionally, if a bounce occurs here, there is a possibility it could head upward into an inverse head and shoulders (green triangles) and further head upward. On the less positive side, since this is the 61.8% Fibonacci retracement, even an increase upward has the potential to hit a new all-time high but looks very close to a three-drive bearish pattern as well. Additionally, MACD is heading the negative direction as well so it well might continue. And of course, this support line is so crucial such that such a break could easily send the price into a longer term bearish trend that can last for some time now. There are possibilities that this could be a result of the PI Indicator or ALT season causing FOMO at max pain (for example, thanks to DOGE), but I would be somewhat surprised that the fall here would come without as many heavy handed indicators into oversold territory as well as the fact that this is not a flash crash, but it is quite possible that such a crash could occur soon (particularly if stops soon trigger). Although things looks fairly scary right now, I feel there are so many positive trends needing to continue on alts that this very well could possibly be a retracement and bounce soon (until the trend shows otherwise). However, I would still suggest to never take my opinion as advice (both now or ever) as I could easily be wrong. But if you strongly feel otherwise, I would love to hear your thoughts, so please like this article if you agree or leave a comment as to why if you don't. Either way, this looks like a very crucial point to watch if a downward trend continues from here, as it might take a while to recover if that is the case and might propel the price near crash levels.
BITSTAMP:BTCUSDLong
by crypto_trends
1