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Bullishreversal

How To Know When And Why Bitcoin Is Confirmed Bullish Or BearishBitcoin is at the crossroads as to whether it's bullish or bearish. In this short analysis we'll explain how and, more importantly WHEN, you we determine which of the two it is. By being able to identify the technical direction at the earliest safest point, we'll either be given the gracious opportunity of stepping away from the fast-approaching freight train, or - in the case of Bitcoin actually being back to bullish - we'll be able to hop onboard it before it catches on too much speed. As continually stated here on Trading View over the last few weeks Bitcoin is, until proven otherwise, in the midst of an ABC zigzag correction. The steep bullishness we're seeing at the moment is likely just a bull trap B-wave. And the very steepness of the last couple of weeks' price development tells that story on its own. A few weeks back we re-entered with the entirety of our Bitcoin position (or rather Marathon Digital Holdings for the leveraged effect) upon Bitcoin breaking above its half-year long diagonal RSI resistance. This had been rejected some 8-9 times depending on how you count. And as always within technical analysis, the more times a support or resistance is being tested, the more violent the eventual outbreak tends to be - at least from a statistical point of view - as legion of pent up pressure is released. And that's exactly what we've seen since in Bitcoin as it's gone up by 45% since its RSI breakout. So how then do we know whether this is a mere B-wave bull trap or whether it's in fact that bullish reversal towards new all-time high that everyone seems to be eagerly waiting for? Well, if this were to be the B-wave of that zigzag, we know that the B-wave on its own should consist of an ABC (see picture below). In an ABC zigzag correction the C-wave of the B-wave (the one we're in right now) is typically shorter than the A-wave of the B-wave. Yet, the C-wave can still reach equal length of the A-wave, albeit it's not as common. At the moment, Bitcoin is trading right at a technical confluence of resistance. So far the C-wave of that B-wave is shorter than that of the A-wave of the B-wave. If they were to be of equal length it'd bring Bitcoin to the 618 fib between $50 000-51 000 (the $13 000 length of the A-wave added onto the B-wave bottom of the B-wave). Now, as we've concluded we're in the prospect C-wave of the B-wave. We also know it's statistically unlikely for that to equal or exceed that of the A-wave. This is where the magic starts to happen. First of all, if this were to be the end of the zigzag B-wave it naturally follows that the next retracement below $50-51K should amount to the 1st wave of the 1st wave of the C-wave. Such retracement would have to at least reach the 382 of the C-wave of the B-wave in order to "count". If such retracement - which would be clearly visible on the daily chart - were to again be recovered price-wise, it would automatically disqualify the ABC of the B-wave as it would then have initiated a fifth wave. If, upon the next retracement that reaches at least the 382 fib, the price were to recover and take out the previous top we will KNOW that this is not the B-wave of that big zigzag, but rather a bullish 5-wave impulse - the first wave impulse out of a bigger 5-wave impulse - for a solid preparation towards new all-time highs. The same zigzag nullifying principle applies if the price were to continue past $51 000 as it'd be a statistical abnormality for a zigzag B-wave. This would rather tell us that we're in the 3rd wave of a 5-wave bullish impulse. And the additional reason for this is simple: the 3rd waves are usually the longest (and NEVER the shortest). All in all, if Bitcoin were to correct by at least the 382 at or below $50-51K this will constitute the high risk danger zone. This is where I will release the entirety of my Bitcoin-related positions (as in Marathon Digital Holdings). Upon reaching that 382, IF Bitcoin were to proceed by taking out the previous local top it would be a safe spot to go long as this would confirm the 3rd wave bullish count and automatically disqualify the entirety of the zigzag. If the price proceeds lower, chances are increasingly in favor of the zigzag being at work, preparing the price for much lower levels - technically in the late teens or early twenties. Equally so, if Bitcoin were to break above and close above $51 000 it would also conclude that the B-wave is invalid and that Bitcoin is trading in the 3rd wave within a 5-wave bullish impulse. In essence, the things to look out for are the $50-51K zone and whether Bitcoin can stay below or break above it AND how Bitcoin were to evolve if it were to retrace by at least the 382 fib (of the C-wave of the B-wave). If it were to continue higher than the local top, it will automatically disqualify the zigzag and confirm that Bitcoin is back to bullish. And if the price does not recover, expect significant drops in price.
BITFINEX:BTCUSD
by LongLifeTrading
4
BRPT-Bullish ReversalLast week, with the weekly chart view. I found something interesting with this Stock. Eventually, the chart pattern was making a bullish penant but past few week price was closing below support trendline of bullish penant. But, if we take a look 3 last candle of weekly chart. It created a price action of morning doji star with high volume on the last candle stick. What you guys think? it will be a signal for bullish reversal? or it just a pullback? Please let me know your thought by comment below. Happy Trading!
IDX:BRPTLong
by saveriolys
Extremely Rare Candlestick Pattern on the Gold Daily ChartThe Three Stars in the South candlestick pattern is a very uncommon bullish reversal pattern. I've only ever seen it complete on the daily timeframe one other time in my career - when Tesla went on its truly parabolic run from 1300 - 3000+. See related idea. Seriously, that's the last and only time I have seen this on a daily chart without it being a historical reference in a textbook. The pattern is seldom mentioned due to its infrequency (and thus its inapplicability to beginner-level traders), but the market analyst, Thomas Bulkowski, was able to find a few examples and define the pattern concretely. Some of the statistics mentioned in his candlestick encyclopedia: Three Stars in the South: a) has an approximate frequency of 4 candles for every 9 million that print b) results in a strong bullish reversal 100% of the time it forms on a significant timeframe (believe it is daily and higher) Anyways, just thought I'd mention since I did say Gold could approach a much higher target in the near future. -ThreePigsInTheSouth FOREXCOM:XAUUSD FX_IDC:XAUUSD TVC:GOLD TVC:DXY TVC:SILVER
TVC:GOLDLong
by UnknownUnicorn5511258
15
$GLBS CURRENTLY $4.81 & SHORT SQUEEZE TO $100Globus Maritime Stock Available At Robinhood Currently $4.91 & SHORT SQUEEZE UP TO $100 Price Action Hovering Near Alltime Lows. Confirmation Of Double Bottom! Officially Breaking Out Of Falling Wedge Pattern Bullish Reversal! Short Float Percentage 21% Of all its shares available, 21% is shorted meaning 1 out of 5 shares is betted the price goes down. So what I suggest we pump it, have those short positions cover their losses at a higher price and our investment soars! I personally invested $50,000 into this stock, if the minimum target of $20 is completed, I’ll have $200,000. Now imagine if the target gets up to $100! I’ll go insane! RSI On the Monthly, Weekly & Daily Is Hovering at 30! EMAS 9, 21 & 55 about to Golden Cross! Online Articles Speaking About Short Squeeze! Reddit, Twitter, Stocktwits, Youtube, Tradingview & All Social Media About to blow up this stock! Be prepared, I’m a believer and the most consistent of this money making opportunity!
NASDAQ:GLBSLong
by WALLSTVIDEOS
8
SUPER/USDT Update: Looking at a bullish reversal, 300% recoverySUPER as a newly NFT project shows some volatility. SUPERFARM is around the corner and good news are coming in. The downward parallel channel has been broken. Currently it looks like we found support and even went through the first resistance. SUPER showed some trouble breaking the second line of resistance but this is just a matter of time. Basic rules: - Never buy the top/ATH - Take profit as long as you can - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. Helplines: - Purple lines are trendlines we take a look at. - Yellow lines are for visual help only. Boxes: - Either entry zone or support zone. Check the description.
Long
by tumbler55
MSFT Reversal Head and Shoulders- BullishAs you can see from the chart, MSFT broke out of a symmetrical triangle formation right around January 20th and enjoyed a very strong uptrend for about a month. We can see a clear break in this uptrend around February 18th just based on price action and we can also see that at this same time our fast EMA's quickly turned silver indicating a weakening of the uptrend. Since February 18th we can see that MSFT has formed a reversal head and shoulders pattern, with the head bouncing perfectly on the previous broken resistance line from the symmetrical triangle formation that it broke out of at the end of January (new support level). In addition to my T.A, I also have a strong price target for MSFT based on my fundamental analysis and believe $275-$300 price target is very possible.
NASDAQ:MSFTLong
by LivermoreGrahamDisciple
Is #ADA #CARDANO Finally ready for a reversal? - #ADAUSDTI still think it's not taking too long for #ADA to make a move. This looks like a reversal. Some people including myself are really tired of seeing Cardano bleed like this. This beautiful project and also we do deserve better. Let's hope it's a breakout to a new ATH this weekend! What do you think or see? Please let me know in a comment, would love to see this shared or just push that like button if you agree. - Try to open your entry if the price will show it according to your OWN strategy. - Don't forget your SL - It's also important to keep an eye on #BTC at the moment *Remember: This is just an Idea, no financial advise!
Long
by Ayari
6
BTCUSDT Bullish price action on 1H chart may be bottom formingI am not saying this with certainty but these are the types of price action that I watch out for if I want to trade reversals. We seem to be forging a possible higher low with the current price action. Could this be the first higher low that kicks off a bull leg? I think the context is valid for it so something tells me it is but we need confirmation first. Looking to see if a higher high materializes from here. Note that a reversal here is lower probability (maybe about 40% chance or less) so this is definitely not trading advice.
Long
by thedailychartist
possible bullish reversal in buy zoneseveral touches of the yellow down trend line suggest next touch should break up. Very bullish the second touch of the red line didnt break, and was bought up quickly. I expect price to break out past the yellow, briefly test the green trend line, before running out to retest the ATH @ 8.9 It probably will bounce off the ATH, which might have good entry opportunities before breaking ATH and going into price discovery. This climb could be a fast one
Long
by pokp
USDJPY With Several Evidences For A Potential Bottom FormationHello traders! Today we will talk about weekly USDJPY chart and we will show you many evidences for a potential bottom formation. Well, for the begining let's talk about wave structures from Elliott Wave perspective. USDJPY is in a downtrend since March, but the wave structure is slow, choppy and overlapped which we see it as a complex corrective W-X-Y decline and we know that once corrections fully unfolds, we can expect a reversal. The next very important evidence is an ending diagonal (wedge) pattern placed in third leg Y. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C/Y of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlap in price, while wave 3 can not be the shortest amongst waves 1, 3 and 5. The reason why they are so interesting is because they are indicating a reversal, usually a strong one. The next interesting evidence is that we are already seeing bounce and recovery with quite big weekly candlestick, completely covered the previous one, called bullish engulfing candlestick formation which also suggests a bullish reversal from the lows. If we also consider current break above strong weekly trendline, then with so many evidences, we can easily confirm a potential bottom and bullish reversal. Trade well! If you like what we do, then please like and share the idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
1
TLKM - BULLISH REVERSAL - DOW THEORY (INDONESIA STOCKS EXCHANGE)TLKM BULLISH REVERSAL AFTER SEVERAL ROUGH MONTHS OF ITS BEARISHNESS, TLKM START REVERSE TO BULLISH, FROM DOW THEORY WE KNOW THAT MARKET MOVE IN A PRIMARY, SECONDARY AND FOLLOWED BY PRIMARY AGAIN JUST LIKE AB = CD, TLKM ALREADY DO HIS PRIMARY AND SECONDARY BULLISH REACTION, NOW TLKM START TO FORMING HIS PRIMARY REACTION WHICH WILL LEAD TLKM TO AROUND 3700 - 3720 WHY THAT AREA? THE REASON IS 1. WE CAN SEE A GAP AROUND 3700 2. THE GOLDEN RATIO OF 1.618 FIBONACCI EXTERNAL RETRACEMENT ALSO STOP AT 3720 (XAY). SO THE FIRST POINT AND SECOND POINT CLUSTER AT THE SAME TIME CUT LOSS AREA SHOULD BE 3150 REASON : 2ND SWING LOW ALREADY MAKE A HIGHER LOW AND IF BREAK THE FIRST LOWER LOW THEN IT MIGHT GO TO 3060 AND GO UP TO CHASE THE 3700 TARGET 3060 IS THE AREA OF FIBONACCI XAB FOR THE FIRST PRIMARY OF THE BULLISH DISCLAIMER ON !
IDX:TLKMLong
by RupinGoh
3 of 3 Candlestick Patterns That Pinpoint ReversalsBullish Hammer Candlestick These candles are easy to spot and they generally have taller wicks than their bodies, resembling a hammer's handle and head. They tend to close without (or with very little) upper wicks. Here's what a bullish hammer candlestick is telling us: Price opened near the highs of the candle and although sellers initially succeeded at pushing price lower, they lost the final battle when buyers tipped the scales in their favor again by closing price higher than the opening price.
COINBASE:BTCUSDEducation
by Tradingstrategyguides