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Certainty is dangerous - BTC downsideThis run up from 29k has been fast paced and well accepted by most. Most are certain downside isnt feasible at the current state as BTC is so bullish however given confluence at 54k mixed with a few other indications , i feel our current position is not going to be held for long ! Mapped out are two price ranges highlighting the drop size required to go to 27k . Notice how in the first dump we dropped 34k in 70 days and now we could be looking to dump 26k , sending us to 27k in 70 days. Currently the dxy looks weak and is showing signs it could return to 90.This is a potentially bullish sign for BTC however that also fits in with my idea here considering we are still 4k away from 54k. I do expect a pull back to 48k at some point within the next week if we make no attempt at 54k. 27k is still very unlikely however certainty is dangerous -Ozwald
BYBIT:BTCUSD.P
by ollie_oz
2
Roku: Dead Cat Bounce? Roku bounced really well at the strong support zone and also changed the trend to bullish "U" on the daily and 4HR chart.Previous Resistance that turned into support $351 is crucial indicator of reversal. Making daily higher highs and higher lows gave it a confidence bounce upside. If it can hold at EMA 20 with volume, it can easily hit back to $360. Bullish trend on RSI as well. When it breaks, there will be a big opportunity. Selling pressure is slowing down and a trend change with the inverse hammer followed by a green candle. If it breaks the support of $340, its a dead cat bounce.
NASDAQ:ROKU
by yflaw1018
2
NIO: What it needs to fly again?Hello traders and investors! Let’s take a look at NIO today! Since it reported earnings, NIO has been in a bearish momentum, and it seems nothing will reverse it. The last support was at $ 38.66, and NIO lost it, but what does this means? We are still far from May’s bottom at $ 30, and since it dropped that sharply, it has good chances of bouncing back up, but so far, we have no bullish structure in the 1h chart. On the bright side, we are near the support level, and it seems NIO didn’t lost it completely, as we see early signs of reaction. Let’s see the daily chart for more clues: We have a bullish candlestick pattern today, which is a start for a possible reversal, and since we are near the previous support level, now is the best time for NIO react. If we close above the $ 38.66 again, it will be a false breakout from the support level, and this will be very frustrating for the bears, as they will be stopped out. Since we hit the support, the volume increased, and if we see a reaction, the 21 ema will be the target for us. Then we’ll see if it’ll be a Dead Cat Bounce or the beginning of a true reversal. But I agree that today’s reaction is not the best so far, and we must wait for more information. The situation is very delicate, and how NIO will react in this support will dictate the next big movement. If you liked this analysis, remember to follow me to keep in touch with my daily updates. Have a good day.
NYSE:NIO
by Nathan_The_Finance_Hydra
6
Upcoming short ideas - 47k rejectionAs previously stated 47k is a big psychological level and also adds confluence to a massive wedge that's been in play since the 5th with the upper resistance starting from the 12th of July. This is another tipping scale moment for BTC where either direction will be big. Mapped out are three possible short scenarios stemming from different areas however they have different risk tolerances. The third short, furthest from now, is the highest r/r however if this wedge plays out as it should then we will see it. The first short is a lower r/r however this takes into account a trend line stemming from the 21st of July and is where I will place TP providing my trailing SL won't get triggered. TL:DR - Bearish wedge looks to play out around 47k , a breakout upwards of this wedge continuing with the upwards channel present is unlikely at this point.
Short
by ollie_oz
2
Rising wedge acting as supportThe previous trend line resistance for the wedge is now acting as support as go into the mid and upper 40's. This is normal for a s/r to flip however what I find weird is the candle we saw earlier dipping inside the wedge and bounces off the support. Previously I had stated that the 10-11th of august is a deciding day for BTC as we are likely to test the 200dma and it is the meeting point of the wedge.My fear is that the candle earlier exposes weakness in the support and that if tested again we may fall into the wedge where we remain before falling down. This ties into my previous idea about supply takeout and how if we don't reclaim this area we bounce down. The wedge deadline gives us time and actually supports us up to this area while still providing an area for us to fall. Also previously stated that if 45 is not claimed then we may see a down fall quickly diving into the many fvg we have left on this quick assent. While I remain neutral I'm still very open and more opposed to any idea that 45k will be an easy absorption
Short
by ollie_oz
4
deniers incoming, farmers are dead.Matic is big shitcoin, the big bear pokes out its claws to teach newbies how to play this game. those who expect great perpetual returns will be bound to the great tear of karhu. it is not worth the sighs or false denials on telegram or discord channels. The only thing left is to trade with objectivity and the future vision that btc will be adopted by the states, not matic, not ether, not xrp. only bitcoin is the safe and effective bet. let the unbelievers cry.
MShort
by TrumpMakeBitcoinGreatAgain
4
USDCNY to Fall Towards the Lower End of the Accumulation The USDCNY continues to find itself in a solid downtrend. This is illustrated by the ADX indicator, which has been threading above the 25-point benchmark since late September 2020. The ADX reached a peak around the time the price action fell to the upper boundary of the last Accumulation range at 6.4700. Afterwards, the price went on to establish a false bullish rebound. The latter materialised in a Dead Cat Bounce pattern, which typically represents a temporary break in the development of a broader downtrend. The pattern failed to strengthen above the 20-day MA (in red), which is why the USDCNY was then able to break down within the Accumulation range. That is why the strength of the underlying Markdown - an essential component of the Wyckoff Cycle - appears to be waning down, as underpinned by the ADX indicator after February 2021. This represents an early signal that the USDCNY is once again getting ready to consolidate in a new range. Before this can happen, however, the price action looks poised to fall to the Accumulation range's lower boundary at 6.2650 once again.
Short
by Trendsharks
The 'Dead Cat Bounce' ScenarioPrice has been unable to rise clearly over the 40k level. Good news is that it almost reached 40,500 today before finding resistance to drop below support at 38,500 At this stage it is important to see Higher Lows! This means that if the price drops below the 36,000 level we run the danger of seeing a further drop / in this case the rise from 30k to 40k levels will simply be classified as one (Dead-Cat-Bounce) and we could be prepared to see a further drop to 30k. Am I bearish now? No, I am still bullish but I also need to do what the chart commands. Right now we must be careful, if 36,000 is breached under we will be worried/turning into sell positions. For the time being I have reduced my sell positions and opened some hedge positions (25% sell 75% buy). Hope it helps, the FXPROFESSOR
by FX_Professor
14
BTC Turns bearish on Daily - ShortBitcoin has dropped below the 20week and 200day moving averages for the first time since April 47th, 2020. With a triple bearish divergence, a break of the pitch fork trend and floating below the 20wk MA..I cannot help, but read this as bearish in the short term until we secure a weekly close back above the 20wk MA. Not sure how much lower we could go, there is no telling. How much longer until we reverse, unsure. Is this the end of the bull run? I don't want to believe so, but you cannot deny the chart. There is aways time to return when the whales give us a bullish sign that things are reversing, but I don't see on the chart right now. I remain bullish in the LONG. This is not financial advice, It is only my opinion.
COINBASE:BTCUSDShort
by MFGroon
More Bearish Pressure on the NZDCAD The NZDCAD is about to test the strength of the ascending trend line. If it manages to break down below it on the third attempt, this would likely allow the pair to probe breaking even further down south - towards the previous swing low. Upon completing the last 1-5 Elliott Wave Pattern, the pair is currently developing a corrective ABC pattern. Notice that the AB retracement is taking the form of a Dead Cat Bounce, which confirms the bearish expectations. Moreover, the Bounce peaked below the 50-day MA, which represents yet another selling indication.
Short
by Trendsharks
3
Opportunity to Sell GBPNZD's Dead Cat Bounce The GBPNZD pair appears to be forming a new Dead Cat Bounce pattern, which typically signifies likely bearish reversals. An opportunity to sell around 1.94500 (previous swing high) may emerge, provided that the price rebounds from the 50-day MA (in green) and 100-day MA (in blue) for a second time. It did the same during the establishment of the first Dead Cat Bounce. If the price breaks down below the support at 1.92000, then the subsequent dropdown will likely test the psychologically significant support level at 1.90000. New Zealand's CPI numbers and UK's unemployment data, both scheduled for publication on Tuesday, are likely to cause heightened volatility. This could serve as the catalyst for the expected bearish reversal.
Short
by Trendsharks