BTCUSD Bullish Continuation: Rounding Bottom Supports Uptrend!COINBASE:BTCUSD - 4Hr Analysis
After analyzing the chart, I believe that price will continue its bullish cycle in the next few hours due to the formation of two key patterns: the Rising Wedge and the Rounding Bottom.
Rising Wedge:
The Rising Wedge is traditionally a bearish pattern, indicating a potential reversal or breakdown. However, in certain cases, this pattern can break out to the upside in the short term, especially if the price is near the top of the wedge. As seen in this chart, the Rising Wedge could suggest a temporary bullish breakout before the bearish pressure takes over. The breakout from this pattern often occurs due to bullish momentum pushing the price higher for a brief period.
Rounding Bottom:
The Rounding Bottom is a bullish pattern, indicating that the price has already started a recovery from a period of consolidation or decline. This pattern signals strength and momentum building after a downtrend, making it more likely that the current uptrend will continue. Since the Rounding Bottom is a reliable precursor to a sustained uptrend, it supports the idea that Bitcoin’s price will maintain its bullish cycle.
Conclusion:
The combination of the Rising Wedge and Rounding Bottom suggests that although there may be short-term price fluctuations, the overall trend is likely to remain bullish. Traders should keep an eye on the breakout from the Rising Wedge for potential entry points, while respecting the longer-term bullish signal from the Rounding Bottom.
Follow your risk management and happy trading!
Contiuation
Reversal likely to hold up #SPX $SPY $RSP I expect some continuation from this recent rally. The percentage of SPX stocks trading above their 50-day MA is now bouncing from being too far below the lower band of the channel I have defined.
Annotated on the chart are the previous times it significantly breached the lower band.
MACD histogram turning green with MACD line curling up for a cross. RSI bounced and has some momentum. Next test at 50.
Bar some terrible news from Ukraine or Taiwan, we should see some of this momentum carry the market higher. For how long? Unclear. I would like to see $RSP start to outperform $SPY to signify broad strength opposed to a few names carrying the entire index (not sustainable or healthy).
USDTRY 7.64331 - 1.26 % LONG IDEA * CONTINUATION & STRUCTURE Hey everyone
Here's a look at the DOLLAR / TURKISH LIRA
* Many stars aligning with the Bulls on the lira the pair traded in a descending channel broke with the bull and we've been in a beautiful uptrend
since.
* looking for continuation patterns as we are already trading in one which is the bull flag, trading at a key level.
* momentum with the bulls will be the trigger and price action
* follow your entry rules on entries
* significant moves with the bears change the plan.
* TIGHT SL
lets see how it goes.
AS ALWAYS PROPER RISK MANAGEMENT AND A LOT OF PATIENCE & AGAIN many stars must align with the plan before executing the trade, kindly follow your rules.
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
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If this idea helps with your trading plan kindly leave a like definitely appreciate it.
I'VE SEEN BITCOIN DO THIS BEFORE !I remember replaying *on tradingview* back to when bitcoin shot up to almost 20k, and how on the way there price would fake hard, and make you think it would go down instead of continuing bullish movement. To the best of my knowledge price for the most part always repeats itself. I don't have a clue where exactly price will go but i'm betting this isn't the end of the bullish movement from bitcoin! SHARE WHAT YOU GUYS THINK IN THE COMMENTS!