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Alt market wants to explode to 2.4 trillionIn order to do so however it must first break out o this cup and handle pattern it has been forming. Many alts at the moment including Ethereum and Tezos are in similar cup and handle patterns. Just waiting on price action to firmly break above the rimline o the cup and lip it to solidified support first before we can confirm the breakout. It could take it’s sweet time locating just under the rimline for multiple daily candles before I ally breaking above. It could be as early as tomorrows candle or it could be multiple weeks away still. Whales may very well be waiting until they see a bunch of people flipping their alt holdings into btc before they finally try to trigger the total2 c&h breakout. Either way, I don’t anticipate most alts currently in a c&h having their breakout until we see the total 2 chart confirm its breakout. My guess is we will see the breakout sooner rather than later as I anticipate the 1 day 50ma(in orange) will maintain solid support and help to lift price action above the rimline and keep it there.
CRYPTOCAP:TOTAL2Long
by DrDovetail
2
BTC Analysis1-What's BTC market bias as of now? -Price has formed (or 90% formed) an ascending wedge (red lines), which indicates a down movement possiblity. -Price is near monthly support (63K zone). If price breaks it, it will continue downward. If it bounces back, it will go to the wedge's upper limit (mentioned in a). -Volume (yellow line at the bottom) is decreasing; less and less money has been used to buy BTC. This indicates a lack of interest in the market which drives people to avoid it or use as little amount of money as possible. Usually, this ends up with the price moving downward. -The volume profile of the market shows that since the start of the year, large amount of money was poured in when the BTC price was around 31K-40K. The next wave of money poured in was around 45K-50K, and last one when the price was around 54K-60K. The amount of money used decreased respectively (shown in the left side of the chart as horizontal bars). Again, this has the same conclusion as the point above. *Conclusion: market bias >>> Down movement. 2-Where would the price go to in that case? -The regions mentioned above (31K-40K/45K-50K/54K-60K) act as support levels and the price will most likely move to one of them starting from the nearest (54K-60K) and bounce back up. If price doesn't bounce up, it will go to the region below it. In case the price falls below 31K-40K region, we can expect a market crash.
COINBASE:BTCUSD
by hballamco
EURUSD Long Setup Daily ChartAfter the strong impulse started in may eurusd has been in consolidation for a while, now its slowly going back to 1.15 /1.14 which is a strong support zone, and its doing that with a falling wedge. there is two ways to enter this, you can look for bullish signs inside the support zone to spot an early entry for more reward but also more risk, or you can wait for price to bounce from support , break the falling wedge , and enter on the first continuation you spot. the first target is 1.19, if we break that the nexts is the top of the trendline which is also a supply zone, around 1.2/1.21 let me know what you think of this thanks
Long
by Erth_
1
The Daily TimeframeI am commonly asked what is the most important time frame to analyse your pairs on. Which doesn't always result in a simple answer since multiple time frames must be taken into consideration for successful trading e.g. weekly/daily/4h/1h. However, there is the one that is universally considered to be principal and that is the daily time frame. Here are some of the main reasons why so many traders rely on a daily time frame and why you should to: 1️⃣ - Daily time frame shows a global market trend at the same time reflecting a mid-term and short-term perspective allowing the trader catch trend following moves and spot early reversal signs. The simple nature of one candle closure per day keeps things a lot more simple compared to lower timeframes. 2️⃣ - Covering multiple perspectives, the daily time frame is the foundation of the majority of the trading strategies and is the main source of key levels & pattern analysis. 3️⃣ - Filters out news events that happened during the trading day. It shows the composite reaction of the market participants to all the data posted in the economic calendar. 4️⃣ - Daily time frame reflects all trading sessions. Within one single candle, we see the outcome of the Asian, London, and New York Sessions. 5️⃣ - Daily candle filters out all the noise from lower time frames & intraday price fluctuations and sudden spikes & rejections. 6️⃣ - Similar to covering all the trading sessions, daily time frame also mirrors the activities of big players like hedge funds and banks. Showing us the flow & direction of big money. ⚠️ Please note: Despite the daily timeframe being so important for analysis, still do not neglect other time frames. The most accurate trading decision can be made only relying on a combination of intraday and daily time frames.
Education
by NimmoCapital
NZDJPY for new highs 🦐NZDJPY on the daily chart has recently broke the previous highs due to a Yen weak moment. The price after a long retracement has started a bullish impulse and according to Plancton's strategy if the Academy conditions will be satisfied we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
AUDCAD It will rise upward Welcome back! Please support this idea with a LIKE and COMMENT if you find it useful. ***** Buyers have taken charge and managed to push price beyond rejective resistance 9200 zone. After a strong bullish impulse, we now have price rejecting off the 50% fib with a bullish flag formation. All signs point upward for another bullish wave/continuation. Where do you think AUDCAD is headed? Let us know your thoughts in the comments! Be sure to follow the entry criteria rules for your strategy and keep this on your watch list! - BKH
Long
by BKTradingAcademy
CHFJPY , WAITING FOR SHORTING CHANCE ?From the resistance trend line we observe that we are at a selling ZONE . the evidence of a pattern ASCENDING CHANNEL . considering that its the DAILY time frame . we will look for opportunities to support the anticipation of the SELLING PRESSURE from this position . This will be evident especially on the lower time frame once the market shifts from bearish market to a bearish market .OUR ENTRY TIME FRAMES ARE THE INTRADAYY TRADES TIMELINES .
Short
by DIGITALASSETSINC