Get started

Cryptocurrrency

Bitcoin Bullish Momentum at Risk as Monthly Stochastic IndicatorBitcoin (BTC) enthusiasts might face some headwinds as a key monthly technical indicator, the stochastic, signals an "overbought downturn" according to Fairlead Strategies. The stochastic indicator recently dipped below 80, which indicates a loss of upward momentum. This indicator typically oscillates between 0 and 100, with readings above 80 signaling overbought conditions and readings below 20 indicating oversold conditions. A downturn from overbought levels suggests a weakening of upward momentum. Strong Resistance Causes Downturn Katie Stockton, the founder and managing partner of Fairlead Strategies, highlighted this development, stating that "at the end of August, Bitcoin confirmed an overbought downturn in its monthly stochastics in a setback." She added that this downturn might prolong the basing process for Bitcoin, especially considering the resistance around $31.9K posed by the monthly cloud model, a level Bitcoin has struggled to breach. Historically, overbought downturns in the stochastic indicator in early 2021 and December 2017 have marked significant price peaks. The monthly MACD histogram, which measures trend strength and changes in trend, is near zero, indicating a neutral long-term bias. Crossings above zero suggest a bullish momentum shift, while drops below zero signal a bearish trend change. However, the MACD has yet to turn positive, implying that a sustainable uptrend has not yet taken hold, according to Stockton. At the time of writing, Bitcoin is trading at $25,700. Stockton identified immediate support at $25,200 and noted that the 50-day simple moving average at $28,200 is a critical resistance level.
INDEX:BTCUSD
by cryptohopper
$TRB Performing Falling wedge in 15m Keep eye on Breakout Falling Wedge The falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern. In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows. Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows. If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips! A good upside target would be the height of the wedge formation.
Long
by Crypto-Adda_Official
$DATA in Bouncing Area MIL:DATA in Bouncing Area Also Getting Volume with Double Bottom How to identify the Demand Zone? Drop spin Rally : Step 1: Initially, the prices were falling down as there could be sellers activated in the stock. Step 2: The price will move in a range because there is an imbalance between buyers and sellers. Step 3: Finally the prices will further move up with more buyers dominating the prices. Rally spin Rally : Step 1: Initially, the prices were moving up as there could be buyers activated in the stock. Step 2: The price will move in a range because there is an imbalance between buyers and sellers. Step 3 : Finally the prices will further move up like a rocket with more buyers dominating the prices.
Long
by UnknownUnicorn26572303
$MOVR Breakout Trendline & Retest Done $MOVR Breakout Trendline and Retest Done Simple Way to Trade Trendline Breakouts Talking Points: Always wait for the current candle to close beyond the trendline to confirm the break. Enter into the trade when price retraces back within a few pips of the original trendline, trading in the direction of the original breakout. Set your Stop a few pips beyond the trendline and set your Limit at least twice as far as your Stop. Step 1. - Locating the Trendline As a review, a trendline is a line connecting two or more lows or two or more highs, with the lines projected out into the future. Traders than look at these projected lines and look for future prices to react around those levels. For a detailed lesson in identifying and drawing valid trendlines, check out my 3 Tips For Trendline Trading. On the chart below is an example of a trendline that developed today on the MOVR/USDT on an Hourly chart. You can see how I connected the two swing lows to create a line and projected that line out into the future. Step 2. – Wait For a Confirmed Breakout Next, we need to see how the price reacts to the projected trendline. There are two potential outcomes when price comes into contact with a trendline: The price will bounce off the trendline The price will break through the trendline This article focuses on the latter. So we wait to see if the price does in fact break through the price. But we aren’t ready to place a trade just because the price breaks through the trendline. We need to wait and see if the current candle closes beyond the trendline. We require a candle to close beyond the trendline to confirm the breakout. This is a very important rule. Step 3. Set Up The Trade Remember the first image I showed you of the GBP/USD Hourly chart? Let’s go back to that example because it actually ended up producing a near perfect breakout setup. Soon after that snapshot was taken, the GBP/USD fell and broke through our trendline with authority. A very short time after that, the Hourly candle closed below the trendline and confirmed the breakout as well. Once this happened, it was time to get to work to setup this trade. There are 3 things we needed to do to execute this breakout trade: Set an Entry order to Sell just below the original trendline. Attach a Stop order several pips above the trendline. Attach a Limit that is as least twice as large as our Stop . There is a saying that goes “What once was resistance, can later become support. And what once was support, can later become resistance.” This is the mantra we rely on when setting an Entry order near the original trendline. We are looking for price to retrace back to the point of support/resistance it just broke through, and then continue back into the direction of the original breakout. Take a look at how the trade was setup below. I magnified the main part of the chart so it’s easier to read.
Long
by UnknownUnicorn26572303
$AGLD breakout Bullish SymmetricalTSXV:AGLD breakout Bullish Symmetrical Triangle in 4hr What is a Symmetrical Triangle A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle. KEY TAKEAWAYS Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.
Long
by UnknownUnicorn26572303
CHZ/USD Local trade. Pivot zone.Logarithm. Time frame 1 day. Local trend. The reversal zone (price squeezed) in the descending channel. After the rebound, the price is squeezed in a narrow zone of 124-144. The chart shows the percentages to the key support/resistance levels from this price squeeze zone. Risk management. It's worth noting that the price of the coin is at a super profit, I've clearly shown this on the chart, which shows the entire main, long-term trend (the entire trading history). Consequently, when working on a coin, you need to keep this in mind and limit potential losses. Observe the risk management. Secondary trend. Time frame 3 days. CHZ/USDT Secondary trend
BINANCE:CHZUSD
by SpartaBTC
23
BTC/USD Secondary trend + Local work. Channel. Accumulation.Logarithm. Time frame 1 day. Accumulation zone. Horizontal channel with the step of 63% more than 9 months. The price is at the breakpoint of its resistance. This is how the channel looks like on the line chart. Close to an identical trading situation in the past. Time frame 1 day. BTC/USD 2018 -2019 Psychology. Cycles. "the bottom and the thirtieth bottom". Completely this secondary trend. Time frame 1 week. BTC/USD Just % Comparison with 2013-2015 Decline Main trend. Time frame 1 month BTC/USD Main trend. Cycles. Halving. Surrender zones.
Long
by SpartaBTC
74
Injective (INJ): A Top Performing CryptocurrencyInjective has been one of the top-performing cryptocurrencies this year. Let’s see what happens next! What is Injective? Injective is a blockchain designed for finance, powering DeFi applications such as decentralized spot and derivatives exchanges, prediction markets, and lending protocols. It offers core financial infrastructure primitives and a fully decentralized MEV-resistant on-chain orderbook. Its cross-chain bridging infrastructure is compatible with Ethereum and other blockchains. Injective uses the Cosmos SDK and a Tendermint-based Proof-of-Stake (POS) consensus mechanism, providing fast performance and transaction finality. It also provides a highly interoperable smart contract platform based on CosmWasm. INJ, its token, is used for protocol governance, dApp value capture, POS security, developer incentives, and staking. Injective’s Current Trend Injective (INJ) has been making waves in the cryptocurrency market, gaining 700% since the beginning of the year. INJ has stood out in the market due to its consistent upward trend, avoiding any significant periods of consolidation. Currently, it appears that INJ is pulling back to its support level of $5.00. This pullback will result in a 50% drop from its 2023 high. The $5.00 support level is expected to hold, and afterwards we may see INJ continue its uptrend towards the all-time high. For traders, one of the best aspects of INJ is its volatility. The daily candles of INJ are very large, which means that there is a lot of intraday volatility. This characteristic is a great advantage for day traders, as they can make quick returns. Conclusion: Injective has proven to be one of the top performing cryptocurrencies this year, offering consistent upward momentum and high intraday volatility. With its pullback to the $5.00 support level, traders should keep a close eye on the price action of INJ in the coming days.
by cryptohopper