Get started

Cyptocurrency

how to draw a trend line There are two types of trendline: Bearish Trendlines Bullish Trendlines Bullish Trendlines We have a bullish trend when the Forex pair is increasing. In this manner, the price of the pair records higher bottoms and higher tops. The bullish trend line should be located below the price action and it should connect the bottoms of the currency pair. This way the bullish trend line acts as a support for the price action. How to Properly Draw and Trade Trendlines FOREX TRADING ARTICLES Twitter 0Facebook 0Google+0 Many traders are familiar with trading price action techniques using horizontal support and resistance lines, but some traders find it difficult to trade using trend lines, and this is rightfully so, since trendline analysis requires a little more discretion on the part of the trader. Trendlines are very useful in helping you determine the trend, and also the strength of that trend as well. Today we are going to take a closer look at this important price action analysis technique. Download the short printable PDF version summarizing the key points of this lesson…. Click Here To Download What are Forex Trendlines Trendline analysis in Forex is a crucial price action method that helps us first and foremost in trend detection. Trendlines measure the price move of a Forex pair when the price is increasing or decreasing. In this manner, there are two types of trendlines: 1) Bullish Trendlines We have a bullish trend when the Forex pair is increasing. In this manner, the price of the pair records higher bottoms and higher tops. The bullish trend line should be located below the price action and it should connect the bottoms of the currency pair. This way the bullish trend line acts as a support for the price action. 2) Bearish Trendlines The bearish trend has the opposite character of the bullish trend. We use a bearish trendline in order to measure the price action during a price decrease. In this manner, the bearish trend requires the price to record lower tops and lower bottoms. This indicates that the price is dropping. The bearish trend line should be located above the price action during a price decrease. The bearish trendline plays the role of resistance for the price. How to Draw a Trendline In order to draw a trendline (bearish or bullish), you first need to identify a trend. So, let’s have a look at a chart. In order to gain a better understanding of how to draw trend lines, we must first recognize the composition of the typical candlestick bar. Every Japanese candlestick consists of five elements – body, top of the body, bottom of the body, upper candlewick, and lower candlewick. We need to understand these elements in order to build a proper trendline. So, if you want to build a bullish trendline, you need the spot the lower candlewicks and the candle body bottoms on the chart. Most times you would use the candlewicks to compose the trendline, however, you could use the candle body in instances where short-term volatility spikes occur outside the normal range of the sloping trendline. Then, if the price is moving upwards, you connect these with a straight line. Three Important Rules for Building Trendlines 1. In order to confirm a trend, you need at least three points lying on the same line! 2. Never think of the trend as contained within a single line. The trend is not a line, but an area. 3. Trading the Trending Move
COINBASE:BTCUSDLong
by nicotj
2
BTC-Predictable as alwaysGood Morning traders! Yesterdays PA was easy to understand if you new what to look for. Retail traders are PREDICTABLE and therefore the markets movements are. The market has moved exactly as anticipated, sweeping out the retail orders stacked at the bottom of the range. We are now currently sitting on the neckline of a large head and shoulders pattern. These patterns are subjective, and become "valid" once we break and close under the neckline. Again don't you think whales and funds know of these patterns.... From this point onwards I will be looking to enter longs, however I will be prepared that price can easily pull right back to the yellow circle around 37k. The current market is being influenced by the spx500 and Evergrande, how it will play out is anyone's best guess, but I would suggest the Chinese government will stop a default to stop toxic debt seeping into the greater market. As always trade safe EnvisionEJ
BLong
by EnvisionEJ
Bitcoin Bull Case Using Gold Fractal : Idea Still IntactHere is an update on my previous idea. The fractal pattern is playing out well. While my last chart was on the weekly, on the daily, I see what appears to be the beginning of a bullish divergence on the RSI. This means that bearish action is losing momentum. To confirm this, we need to see a bullish divergence on the weekly too to suggest we are on a secular long term trend. This is analogous to my previous charts where the RSI was showing bearish divergences (see links below) while price was going up suggesting bullish momentum is on a decline. If price breaks below 25k, this idea will be invalidated.
COINBASE:BTCUSDLong
by brotoshee
4
BTC/USD : Is BITCOIN going back to $20,000 ?Currently @ $39,000 Bitcoin has been facing some downward pressure lately & any upward movement could possibly be just a retracement before another fall Although the pair is now treating one of the key trendlines as support it still seems limited to resistance @ $42,000 & another minor downward trendline @ $40,700 If it decides to respect this downward trendline & treats it as resistance we would expect the pair to fall back to $30,000 & if it breaks below this support level the next support will possibly be in the $20,000 range Will bitcoin recover to $65,000? maybe but for now there is a higher chance for it to fall to $20,000 than it recovering back to $65,000 Link to previous analysis below
BITSTAMP:BTCUSD
by fxspott
SOLUSD BUY/LONG (50.00 to Potentially 80.00 by September 2021)TICKER CODE: SOLUSD Company Name: SOLANA Industry: Cryptocurrency | Blockchain Position Proposed: BUY Technical Analysis 1. Large Flag (Completed and Retraced ) 2. Large Head & Shoulders Pattern 3. Fibonacci Expansion exhaustion at 4.236 near Take Profit Level Buy Entry: NOW READY (50.00-52.00) 1st Partial Take Profit: 62.00 (June-July 2021) 2nd Partial Take Profit: 74.00-80.00 (September End 2021) I would recommend holding some of these coins until the price change trend direction Also, I would consider skipping 1st Partial Take Profit as it is relatively a strong trend at the moment
FTX:SOLUSDLong
by traderprosignals
Bull Market 21EMA (BTC)In the last cycle bitcoin dropped about 5 times to the 21 weekly, 3 out of the 5 times the weekly RSI hit about 53. In fact to start the bullrun last cycle we started off the 21 weekly exactly the same as this bullrun The 21 Weekly moving average sits at about 44000 and the weekly RSI is currently at 57, play close attention here because while every is panicking and selling there bitcoin we can prepare for the next long. If the price comes back down to 44000 and the weekly RSI hits 53 and we get strong signs of reversal it could be an amazing entry.
BITSTAMP:BTCUSD
by Sporia
3