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Continuation

No more Mr Nice! - Important levels to watch and continuation Heya my dear thriving community of hustlers and busters, traders and shillers, movers and shakers hope you are having a tremendous freaki'n day and did not get caught up in that nasty nasty price movement. Before I proceed with all that lovely and well-timed mental masturbation, I have to say that I believe we are going to get bought up soon and we will be trading in 10050-10200 zone in no time, yet if this form will not have immediate continuation in the next 4 hours I'll watch the trendlines and price movement channels. Several things to look for: - As you can see the price has a respected median red line quite nicely and you can also see from lover timeframe charts that there was a persistent rejection on the line taking place, however, it did not hold and now we should expect it to act as flipped resistance. - The price most likely will consolidate on 382 fib line, which is also a major level of resistance. You can see that this line has held up nicely so far however if it brakes - we will move to downward sloping price channel, from which we have broken out from a week ago ( see blue totted price channel). Hate to be a bear in this kind of situations, but right now we are much closer to 9400 than 11000, which could imply a bearish resolution sentiment for a somewhat bearish and somewhat mish-mashed price action. Stay safe my people and let's make MONEEEY! aaand, if you like my analysis of this market, please subscribe and show me your love by hitting LIKE. Cheers Archie
BITFINEX:BTCUSDShort
by akublashvili
It's a bird it's a plane it's BITCOIN! Resolution is near. What is up folks, long time no see... I tell you what is up ... BTC is up, but we don't know for how long. The week has passed and I am seeing people all over TV posting their trade ideas calling for cup and saucers, round bottom flacks, hanging man and variations of head and shoulders. When sometimes the pattern is recognised correctly, yet most of the time it is just pure imagination. Here are several things that IMHO are important to look for and might have a sway on the potential resolution of this consolidation pattern. I am going to go on the limb and say that the descending triangle in which we have been moving for the past 3 months is a bearish structure, however, in an overall macro bullish environment, I would not put too much weight on the nature or statistical probability of the formation. This being said, there are important factors that might influence the resolution of this formation to the downside. And here they are: - Bitfinex, ifinex and tehter are under investigation, and as long the are being under inditement I seriously doubt that we are going to see the print of new tether to support the pump. - Believe it or not, most of the BTC trading is still done using teher, and if there is no new thether printed, there will be no pump, none what so ever. - Most of the money that will be coming to the market via Bakkt and other players have a massive bearish sentiment which means that we most likely will see an enormous dump before seeing any pump. For the short term, we see that the price is moving is a very slow downtrending primary and uptrending secondary channel and the price got rejected multiple times, however, if we will manage to close the 4 hour candle above the 10400$ mark we most likely will see the continuation to 10560 and later to 10900 levels. If we retrace and close 4h candle bellow 10280 level, then my first downside target will be around 10050 and later to 9960 levels. To conclude: - We will likely resolve the whole consolidation structure to the upside - Bakkt will most likely prime the price bit higher during upcoming weeks to have a nice area to start a dump from. - Fed's and ECB's decision concerning the rate cut will eventually direct attention and some of the traditional liquidity to gold, silver and BTC. However, this will only have a temporary effect on the price movement and will retrace back as soon as the news cools off.
BITFINEX:BTCUSD
by akublashvili
2
SHORT Trade Based On Price ActionThis is a trade setup based on timeframe agreement and price action. Looking at the relationship across the timeframes, these are some of the things to take notice of: ====DAILY CHART==== The daily chart shows good evidence of bearishness: there are lower lows and lower high; and the price was recently overbought, interacting with the upper linear regression channel. ====LOWER TIMEFRAMES==== The lower timeframes agree with what we are seeing on the daily chart, producing lower lows and lower highs. ====STOPLOSS PLACEMENT==== A conservative level for stoploss would be above the previous lower high on the daily. ====PROFIT TAKING==== A 1:1 reward-to-risk appears achievable, although the daily does indicate scope for the price to move beyond that.
Short
by NextForexTrade
CHFJPY SHORT Trade Based On Price Action VIDEOThis is a trade setup based on timeframe agreement and price action. Looking at the relationship across the timeframes, these are some of the things to take notice of: ====DAILY CHART==== The daily chart shows good evidence of bearishness: there are lower lows and lower high; and the price was recently overbought, interacting with the upper linear regression channel. ====LOWER TIMEFRAMES==== The lower timeframes agree with what we are seeing on the daily chart, producing lower lows and lower highs. ====STOPLOSS PLACEMENT==== A conservative level for stoploss would be above the previous lower high on the daily. ====PROFIT TAKING==== A 1:1 reward-to-risk appears achievable, although the daily does indicate scope for the price to move beyond that.
Short
by NextForexTrade
SHORT Trade Based On Price ActionThis is a trade setup based on timeframe agreement and price action. Looking at the relationship across the timeframes, these are some of the things to take notice of: ====DAILY CHART==== The daily chart shows good evidence of bearishness: there are lower lows and lower high; and the price is overbought, interacting with the upper linear regression channel. ====LOWER TIMEFRAMES==== The H4 also shows good signs of bearishness, although there are some clear signs of recent support as discussed in the video. A more conservative trade would be waiting for that support to break and the price to pull back. The H1 and lower timeframes show good signs of bearishness, with lower lows and lower highs. ====STOPLOSS PLACEMENT==== A good level for the stoploss is above the most recent resistance evident on the daily. This clears the previous lower high in the down trend and is also outside the liner regression channel. ====PROFIT TAKING==== Can consider taking initial profits on 1:1. However, if the price breaks the most recent lower low on the daily, there is a lot of scope for the price to potentially move lower. See link below for the video description of this.
Short
by NextForexTrade
2
SHORT Trade Based On Price ActionThis is a trade setup based on timeframe agreement and price action. Looking at the relationship across the timeframes, these are some of the things to take notice of: ====DAILY CHART==== The daily chart shows good evidence of bearishness: there are lower lows and lower high; and the price is overbought, interacting with the upper linear regression channel. ====LOWER TIMEFRAMES==== The H4 also shows good signs of bearishness, although there are some clear signs of recent support as discussed in the video. A more conservative trade would be waiting for that support to break and the price to pull back. The H1 and lower timeframes show good signs of bearishness, with lower lows and lower highs. ====STOPLOSS PLACEMENT==== A good level for the stoploss is above the most recent resistance evident on the daily. This clears the previous lower high in the down trend and is also outside the liner regression channel. ====PROFIT TAKING==== Can consider taking initial profits on 1:1. However, if the price breaks the most recent lower low on the daily, there is a lot of scope for the price to potentially move lower.
Short
by NextForexTrade