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Crypto2024

UNISWAP → Failed to Break Out of Trading Range! Short Again!?Uniswap failed for the 4th time in 19 months to break out of the Trading Range between $4.00 and $7.30. Are we primed for yet another short? How do we trade this? 🤔 If you followed my last Uniswap analysis, there was a great 1:2 Risk/Reward short opportunity on the Daily chart: The initial chart failed to play out and was premature to the rip just above the trading range resistance at $7.30. The price soared to $8.25 then fell back into the range for another failed breakout. The trade from that failed breakout was a success! Now that we're back in the range, we need to wait for another sell opportunity to enter our short position. Zooming into the Daily candles, we need the price to pull back toward the trading range high around $6.90 and have another strong bear candle present itself: We also need to ensure that the RSI stays above 50.00 and ends up below the moving average, giving us proper support of the price action analysis to enter our short trade. Until then, it's best to wait on the sidelines for that setup. 💡 Trade Idea 💡 Short Entry: $6.85 🟥 Stop Loss: $8.55 ✅ Take Profit: $5.150 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Failed to Break out of Trading Range 2. Strong Bull Bar Closing Near its Low 3. Found Some Support at 30EMA 4. RSI at 54.00 on Moving Average 5. Watch Bitcoins Price Movements at $46,000. 💰 Trading Tip 💰 Trading Ranges are two-legged traps for both bulls and bears. When the price rises toward the trading range resistance in two legs, the bulls expect more but don't get it and drive the price down when their trades are exited. The same goes for the bears in the opposite direction. The probability of profit is higher when longing the bottom of a trading range and shorting the top. In the case of this Uniswap chart, this trading range started after a long bear run, so it's reasonable to have a bear bias and short the trading range until its broken successfully. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
COINBASE:UNIUSDShort
by TraderEngineering
ETH → Ethereum Triple Top Calling for Short Trade? Let's Answer.ETH's price action has been caught in a trading range since its bull run to $2,400 on December 9th. We've now registered three failed attempts to break that $2,400 resistance, is it time to short? How do we trade this? 🤔 We can justify a small position short scalp with the current analysis at a 1:1 Risk/Reward Ratio. The justification is the triple top after three pushes up in a bull trend, two strong sell-offs since the $2,400, and the lack of bull momentum at the Daily 30EMA. This position still carries a fair level of risk, so I would not use your maximum position size based on the initial risk. Rather, as more price action unfolds and provides us with more justification for bearish bias, we can add to our trade with additional entries. 💡 Trade Idea 💡 Short Entry: $2,225 🟥 Stop Loss: $2,510 ✅ Take Profit: $1,940 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Three Pushes up from Breakout. 2. Three Sell bars after Push #3, Potential Triple Top. 3. Reasonable Short to Daily 200EMA. 4. RSI at 50.00 and below Moving Average, Indecision. 5. Watch Bitcoins Response to Current Price Area. 💰 Trading Tip 💰 The RSI on its own is a weak indicator and should not be used to make trade decisions. However, when coupled with proper price action analysis, it can help orient the current state of the market and supplement your chart bias. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:ETHUSDShort
by TraderEngineering
MATIC → Polygon Breaks Resistance! Should we Long or Short? MATIC has broken above the Previous Resistance Zone and is currently re-testing it as support. Is this a scenario where we enter a long? Or are we at the top ready to short? How do we trade this? 🤔 We can play either scenario, but we need confirmation in one of the directions to have enough justifications to enter a trade. If the price comes back up and successfully tests the Support Zone, then it's reasonable to long scalp to the next Resistance Zone at $1.19. If we break below and re-test the Support Zone as resistance, it's reasonable to short scalp near the Support Line. Bitcoin is also at a crucial point in the market cycle, we need to see if it falls or breaks out to and above $46,000. Bitcoins direction could (and probably will) drag the alt market with it. We need that confirmation to have enough probability to enter a trade. We're stuck in limbo without a clear direction at this point and should remain on the sidelines until more price actions prints on the screen. 💡 Trade Ideas 💡 Short Entry: $0.93 🟥 Stop Loss: $1.00 ✅ Take Profit: $0.86 ⚖️ Risk/Reward Ratio: 1:1 Long Entry: $1.065 🟥 Stop Loss: $0.970 ✅ Take Profit: $1.160 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Broke Above Previous High, Testing for Support. 2. If Price Falls Below Support Zone and Fails Re-test, Short. 3. If Price Rises Tests Support Zone and Closes, Long. 4. RSI around 61.00 and above Moving Average, Short-term Bias to Long. 5. Keep an eye on Bitcoins Price Movement as a leading indicator. 💰 Trading Tip 💰 Don't trade without clarity. If the price action isn't giving you favorable probability or optimal entries, don't trade it. You will be far wealthier by waiting on the sidelines. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
MLong
by TraderEngineering
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COINBASE:BTCUSD
by SwallowPremium
23
Dogecoin(DOGE): Has reached Major Resistance / Rejection? DOGE is at a pivotal moment, as it confronts a significant resistance zone. After a substantial rally, the RSI is telling us that the market is overheating and entering overbought territory. This could indicate that a correction is near the corner. We're watching for a decisive move; a sustained break above the resistance could signal continued bullish momentum, while a rejection might lead to a retracement towards the lower support levels at $0.08230 and potentially to $0.07535, which are our current targets as we stay below this resistance zone. As always, we'll look for confirmation in the price action and other indicators before making any moves.
Short
by SwallowPremium
18
BTC → Bitcoin Sell-off at $45,800! Time to Short? Let's Answer.Bitcoin made it to the measured move target at $45,800 which was followed by a massive 11% sell-off in the course of an hour. This is the second major sell-off at these levels in under a month. Is this the opportune time to short? How do we trade this? 🤔 We have several data points in favor of a short. We've completed a Measured Move, three legs up in a bull trend, two massive sell-offs (8% and 11%) in under a month at the major resistance level of $46,000 and an RSI under its Moving Average. I also have my Bitcoin Lifetime Analysis which describes in far more detail, why we need a massive pullback before we see new all-time highs: We need to wait for a 4HR candle to close below its 200EMA or a Daily candle to close below its 30EMA. You could argue its reasonable to short now, but we lack confirmation, so the probability of profit is lower at this stage. I prefer more probability in my trades. 💡 Trade Idea 💡 Short Entry: $42,600 🟥 Stop Loss: $46,900 ✅ Take Profit: $38,300 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Measured Move Complete! 2. Two Sell-offs near the $45,000 area 3. Three Legs Up in a Bull Channel 4. RSI at 52.00 and below Moving Average, Bias to Short. 5. Wait for Final Sell signal, Short 1:1 Risk/Reward. 💰 Trading Tip 💰 There is over a 60% chance of a measured move after the breakout of a major resistance, normally, a trading range. That means the distance from the trading range resistance, to the top of the breakout, will happen again above the top of the breakout. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:BTCUSDShort
by TraderEngineering
Bitcoin(BTC):2024 Will Start The Bullish Cycle! (Happy New Year)It is time to look at potential movements for the upcoming year or two. As history has shown us, after each red yearly candle, we have had a nice comeback period where the first candle was more of a liquidity sweep, judging by the last yearly highs and next yearly lows. With Bitcoin having an amazing comeback as of now and more great news to come (Halving+ETF), we see a great future for bitcoin and the whole crypto market! Although currently prices have bubbled up, we can also see that historically, the last correction was madatory to have before that final bullish rally many traders (including us) have been waiting for! Remember, we are still early in crypto, as approximately 4.2% of the population has only crypto wallets. We are not missing out on the big moves that we think will happen. With that being said, happy new year to everyone, and may the new year be even better than the last one!
BITSTAMP:BTCUSDLong
by SwallowPremium
3
TWT → Will the Price Climb to $1.50 or Drop to $1? Let's Answer.TWT (Trust Wallet Token) has been in an expanding and ascending channel since late November and has given us a higher high and higher low. Should we long here? How do we trade this? 🤔 We don't trade an unclear chart, this one is no exception! We have a higher high and higher low, but the high of the higher high has a large wick on it. This is *not* a signal of strength and neither is the fact that we're just above the Daily 30EMA without a strong bounce. Our bias should remain long because the crypto market is currently in a bull trend, however, it's also at a pivotal moment where there is a real possibility of a reversal. Unless we get a strong signal here at the 30EMA, I wouldn't trade this in either direction. Even if the price action falls below the 30EMA, we have too many levels of support before a short is reasonable. 💡 Trade Idea 💡 Long Entry: $1.25 🟥 Stop Loss: $1.09 ✅ Take Profit: $1.41 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Higher High and Higher Low after Bear Capitulation Bar. Bias to Long. 2. Weak bull candle on December 26th, Reduces Bull Probability. 3. Crypto Market at Pivotal Moment, Consider Reversal Possibility. 4. Above 30EMA, need close below to justify Short, Support to Long. 5. RSI at 55.00 and above Moving Average. Supports Long Bias. 💰 Trading Tip 💰 If your analysis renders conflicting signals, trade small or don't trade at all. Wait for the market to give you a signal and data toward a premise, then size your position and manage your trade accordingly. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
TON → Sideways Forever! Until Now?? Let's Maximize Your Profits.TON has been meandering sideways for weeks after its bear drop in November. Are we ready to take a trade? How do we trade this? 🤔 We have a gap to the previous Support Area, price rejection at the Daily 200EMA, a useless RSI reading, and Bitcoin hinting at a move to the downside. This isn't a perfect setup, but we have enough to consider a small position 1:1 Risk/Reward scalp to the downside. Wait for a break below the 30EMA with a bear candle closing on or near its low. It's then reasonable, with a small position size, to take a short trade back to the Support Area. Keep an eye on Bitcoin's behavior as well. A good dive from Bitcoin could take the rest of the market in that direction. 💡 Trade Idea 💡 Short Entry: $2.1750 🟥 Stop Loss: $2.2700 ✅ Take Profit: $2.0800 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Price Rejected above 200EMA. 2. Gap to Support area, Bias to short. 3. Wait for Bull Sell Candle Closing Below 30EMA 4. RSI at 50.00 and Above Moving Average, Indecision. 5. Bitcoin may Pullback or Reverse, could influence TON Price. 💰 Trading Tip 💰 Lower probability trades with Risk/Reward Ratios around 1:1 should have small position sizes. The risk is too great and the probability doesn't carry enough to make the trade worth risking your maximum allowed loss. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
4
ONE → Major Rip and now Major Dip? This Analysis Clears it up.ONE (Harmony) had a fantastic move to the upside and per my last analysis, we capitalized on it. We have now come into contact with the downward-sloping resistance on the Weekly timeframe. Is it time to short? How do we trade this?  🤔 Short answer, almost. The downward-sloping resistance is a major data point in this analysis, coupled with the two failed attempts to break it, the strong bull capitulation candle and the RSI falling below the Moving Average, we have a case for a short entry. Wait for the price to come down to the 30EMA, it's likely to find support and come back up a bit. Then wait for a good sell signal between $0.018 and $0.019, that's your queue to enter. The other major factor is Bitcoin's next move which has a good probability of falling below $40,000. 💡  Trade Ideas  💡 Short Entry: $0.019 🟥 Stop Loss: $0.024 ✅ Take Profit: $0.014 ⚖️ Risk/Reward Ratio: 1:1 🔑  Key Takeaways  🔑 1. Double Top Reversal at Downward Resistance. Bias to Short. 2. Look for Bounce at 30EMA followed by another Rejection. 3. Bull Capitulation to Downward Resistance, Sell Signal. 4. RSI at 60.00 and Below Moving Average, Supports Downward Movement. 5. Bitcoin may be Reversing, Could pull Down ONE Price. 💰  Trading Tip  💰 Resistance on higher timeframes carries more significance with respect to probability on lower timeframes. Combined with sell signals and three pushes up on a lower timeframe, there's enough probability to justify looking for a reversal trade. ⚠️  Risk Warning!  ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
Bitcoin(BTC): Struggle To Break $45K - Good Moment To DCA!For the last 21 days, the price of BTC has been held back by that major resistance zone at $45K, which is giving us a small clue that the volume of buyers is decreasing, and with every new weekly candle, we see that they find it harder and harder to break that resistance. With the amazing pre-halving pump markets have had so far, we see the dominance of BTC getting back on its feet (with the fact that yesterday's small drop resulted in some major moves on alt coins). We are still seeing a nice breakdown happen to reclaim those major liquidity zones at $34K and $26K as well. Be safe and trade smart; this week will be hard on many traders for sure!
BITSTAMP:BTCUSDShort
by SwallowPremium
2
Bitcoin(BTC): $40K Psychological Resistance Is Like A MagnetBitcoin's monthly timeframe reveals cautious growth as we approach the psychological $40K resistance zone. We still wait and want to see that the pre-halving period will show us some downward movement (historically, last time we had a similar setup, prices dropped 60% of the market price). What we are going to do right now is monitor the price action near the $40K zone and see if we will secure it within the monthly timeframe or if we will see a nice rejection! But If $40K won't show any strong rejection but more of a small rejection, then the price might just as well pass this $40K zone and move to the upper zones. So as of now, we are still seeing and waning for some kind of weakness near the $40K zone and a first correction to happen towards the $32K zone. Swallow Team
BITSTAMP:BTCUSDShort
by SwallowPremium
3