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Consolidation

BITCOIN Trapped In A RANGEBOUNDThe price of BITCOIN has been trapped in a well-established trading range between $45.5k and $52k for exactly one month now. The price of bitcoin is still in a state of consolidation and nothing has changed in general as the price moves inside the range. However, if the price breaks to either side of the boundary, traders can enter in the direction of a breakout or breakdown from the trading range. To confirm the move is valid, use other indicators, such as volume, bollinger bands etc along with price action. Let's go over the two key scenarios : - The first possibility involves a squeeze around the trading range's upper boundary ($52k-51k) and a breakout, which could present a strong buying opportunity. - A renewal of the key level of $42K is the second scenario where the wick gets filled. It might be an excellent selling opportunity if there is a breakdown of the trading range's lower boundary ($46k-45.4k). There's a high possibility that buy orders at $42k-40k zone gets filled from where the price may finally bounce back to the upside. Not a financial advice. Do not forget to DYOR. Feel free to share your thoughts on BTC in the comments below.
by Wolf_Of_Alt_Street
1
AVAX/USDT Consolidation -> Trend Continuation [Inverted Chart]Note: I avoid directional terms like "downside" or "upside" and instead use terms like "price growth", "trend continuation", "price decay" to avoid confusion when referencing the inverted chart. "Support" still means supportive of price growth and "resistance" still means resistance against price growth. Running through a scenario with the inverted AVAX/USDT chart with new ATHs in a trend continuation as the eventual conclusion. Local structure supports trend continuation, within the context of an ongoing consolidation. This is one of many potential consolidation patterns, why did I scenario cast this and not a wedge or something of that sort? Markets tend to pick patterns they "like" and repeat them over and over (fractals). The previous consolidation from Sept-Oct 2021 formed something of a pennant, thus I outline how a similar scenario could play out within the bounds of the downward slide we have been in since August. Note the VBP zones formed since we began forming the recent consolidation: 86-93 (surrounding .786 fib), 104-110 (between .618 and .50 fibs), 114-120 (surrounding .382 fib). How could this go wrong? If price action were to decay to the point where it broke out of the slide and the 86-93 volume zone became resistance rather than support, that would be a signal of trend decay. Coupled with technical structure and BTC price action at that point, a breakdown of current trend structure signals a much more prolonged consolidation to come (and potentially, bear market).
Long
by Derivati-Capital
ITW finally ready to move higher?Note: I've mentioned this stock a couple of times before but both times it pulled back to an expected level due to the market conditions at the time. * Excellent earnings * Very strong up trend * High 3-month relative strength of 2.61 in the Industrial sector * Breaking out of a ~9 month base with higher than average volume * Tried to break out a couple of times before but failed due to market conditions at the time * Now breaking out again with higher than average volume * The recent price action did make a double bottom and the price has confirmed a break of the double bottom as well. Trade Idea: * Now's a great time to enter as the price is just breaking out and is close to the broken level * If you're looking for a better entry you can look for a buying opportunity near the $242.52 area
NYSE:ITWLong
by HaseebKhan_90
TWLO consolidationA pattern of higher lows and lower highs constitutes consolidation. I am looking for a break of the swing high or swing low to trigger a trade here. Given that the consolidation is so wide, we have a lot of room to work with. Trading above 285 will likely result in higher prices (thinking 315) while trading below 255 will result in lower prices (thinking 215). For riskier traders who dont want to wait for confirmation, I am long biased above 275 and short biased below 265. I recommend a 2:1 RRR for this trade.
NYSE:TWLO
by Decam9
3
MMC looking to make new highs!Note: I last spoke about MMC around mid October and since then it has consolidated and now it's showing signs of going higher. * Excellent earnings * Very strong up trend * Very high 3-mont relative strength of 6.87 in the Financial sector * Breaking out of a ~2 month base with higher than average volume * We can see that it tried to break above earlier but came back down due to the market volatility * It's also showing healthy signs for a continuation on the weekly chart Trade Idea: * If a little volatility doesn't bother you, now's a great time to enter as the price is still close to the broken level. * Moving forward, $171.13 should serve as support so if you're looking for a slight discount you can look for an entry around that area.
NYSE:MMCLong
by HaseebKhan_90
1
QCOM COnsolidationQCOM is currently consolidation in a triangle pattern. It has shown the 3 lower peaks pattern which consists of 3 lower highs and 2 lower lows. The pattern eventually breaks down much lower. This pattern can be seen at the top of an uptrend. Conversely, this pattern could set up to break higher. The current trend is up and we are bouncing off of the 20ma. On the short side, I could see a move down to $168. On a break higher, Im looking for $200. My bias is currently bearish but I will stay neutral until the consolidation breaks.
NASDAQ:QCOM
by Decam9
SOL Could Reach Just Above $700 This CycleSolana is printing extremely similar chart of what eth did in 2016-18. It looks almost the same, although i don't think sol will go that far in terms of percentages as eth did back then. Largely because of the current market cap and use case, where eth is practically a gas for other similar projects to be build on. As we don't have any historical data to be relaying on, it is still largely a guess where the price could reach. From what i've seen in 2017 lots of new coins went to the full fib. extension, which was extended over recent major correction and consolidation. For the fully extended fibs, 0.236 ext has to sit on top of the range and 0 on the bottom. Something similar did BitShares (BTS) in 2017 (will show in the update). I would expect more positive price action from Solana as it brakes above and find support on that rising trend line that we broke recently. I am not a financial advisor so non of this should be taken as a financial advise. BINANCE:SOLUSDT
by CR35
BTC neutral, the crabs are in controlFrom our last idea, I incorrectly drew the Elliot wave count from the lack of attention to high time frames (weekly and above) and overlooked a bearish momentum divergence that printed back in early November. I believe we're on the verge of entering bear market territory if 47k doesn't hold over the next couple of days and weeks. 47k at the moment has confluence with the ATH 1 white trendline, the Elliot wave impulse PoC now sitting at ~46k, the developing weekly PoC, and the 350 D MA. But the most important line of defense out of those four would be the 350D MA. If you look back on previous market cycles anytime we've closed below it on a standard daily candle, it resulted in a multi-month sometimes a multi-year bear market , and we did so on Dec. 13th hinting a warning of another downtrend. This downtrend will more than likely happen once we've consolidated a bit more likely until we hit ~5% levels on the BBWP indicator noted below. On the shorter time frames, BTC print a 4-hour bullish divergence as well as confirmed the breakout of an important trendline, but failed to continuously move in an uptrend until the posting of this idea. A short idea would be invalidated if either: We blast past the VAH of 52k $ETH closes past $4050 on a daily candle Bull div. on daily and higher time frames Breakout of trendline resistance or the 0.786 fib level noted below: You could argue that the bearish case as of now is invalidated from a fundamental perspective if you take into account the debt ceiling being risen as a bullish move, and it is. If you are going short I suggest having a very short stop loss at the impulse VAH, taking profit along the way of the fib levels on the chart. Note, this uptrend may also not be invalidated given evidence of diminishing returns and interest of institutional investors which will help with cooling off some volatility. The same goes for the $SPX; since it has a bit more room for an uptrend against inflation, I believe the overall trend is an uptrend, it's just that for now there is room for another selloff until ~30k. Overall, I'm neutral and uncertain on $BTC's movement at the moment until either we fail to support 47k to confirm a bear trend or break out past 50k to confirm a bull trend. You could argue 42k is the bottom if we consolidate there again slowly over the next couple of days seeing as how $BTC did hit another low a bit close to the initial oversold wick that went down to 29k on May 19th. Debt ceiling rising + daily candle closing under 350D MA could equal more crabbing and consolidation from here on out for a while. More easier to read chart to overview: Key Levels: Support -47k (Impulse PoC, ATH 1 white trendline, 350D MA) -40k (0.618 fib level, M S2 CPR) -Impulse VAL at 31k -S3 M CPR at 29k -1.272 fib at 22.5k -ATH 1 white trendline -ATH 2 white trendline Resistance -49.6k(S1 M CPR, 0.786 fib on shorter timeframes) -Impulse VAH at 52k -M CPR Lines at 59k, 69k, 79k, and 89k Invalidations: -Impulse VAH at 52k -28k for Impulse wave start.
BITSTAMP:BTCUSD
by linebands
SSNC is one to keep an eye on!* Excellent earnings and accelerating * Very strong up trend since inception * High 3-month relative strength in the Tech sector * Breaking out of a ~5 month base creating a cup and handle pattern * Depth of the cup is ~15.5% * Breaking out with higher than 15 day average volume Trade Idea: * Given the current market conditions you can open a small position with a hard stop. * Also, given the market conditions, I wouldn't be surprised if this comes down to $78.55 area * If you're not entering now, this stock is one to keep on your watchlist for when you do decide to jump in.
NASDAQ:SSNCLong
by HaseebKhan_90
USDJPY - Signals for a Trend Change AppearedHi Traders! The following signals indicates a Trend Change with Down-Movements: Strong Weekly Resistance --> This is a high price and people might sell off again. Daily MACD Divergence --> The bullish Momentum sinks. People may feel a burden when buying the price and they actually want to sell it. Head and Shoulders Pattern --> People know this pattern and its affect of changing the Trend. It includes a Lower High. First Lower High --> Connected to H&S Pattern and shows on the one hand that people are rejecting higher prices and on the other hand that people are willing to sell for/from lower prices. MAs meandering --> It indicates, that after the Uptrend the average 200, 50 and 20 people neither buy nor sell. This indicates the end of the Trend and a potential Trend Change. The TPs are the - daily Support of this whole consolidation (orange box) process - the H4 Support between daily and weekly Support - the weekly Support. If you have any questions, another POV or any comments, feel completely free to share them! Thanks and successful Trading :-)!
Short
by swissmoneymakers