Get started

Downtrend

Bitcoin Declining Inside Downtrend ChannelI'd call it a bad day for Bitcoin, but when compared to the altcoins today Bitcoin is doing well. I suspect that traders are dumping their shitcoins across multiple exchanges as the SEC lawsuits against Coinbase and Binance have traders worried that their cryptos will be delisted, and/or that they might not be able to get their shitcoins or cash off of the exchanges. Technically, Bitcoin was already declining inside of a downtrend channel while failing to hold above the 8,21,34, 50 and 100ma's before the SEC threw out the lawsuits, and price is now trading below all of the ma's-minus the 200ma-with the ma's rolling over. Price was prime for a continued decline prior to the SEC lawsuits, and now the fear associated with those lawsuits is manifesting in the form of freefall price declines across the crypto space. Both the PPO and TDI on the Bitcoin chart are showing that there is negative trend and momentum behind price. The PPO is trending just below the 0 level with plenty of room to fall further. The TDI shows the RSI line trending between the 20-60 levels which indicates that the overall trend behind price is negative. Short-term price target is the 200ma and lower channel line around FWB:23K , but a re-test of $20k is most likely. This isn't a knife that I'd attempt to catch for those looking for steeply discounted cryptos to add to their portfolio. Good chance that quite a few of these cryptos/tokens are going to $0.00 which is something that this space has needed for a long time due to rampant fraud and illegal activity committed by teams behind some of these projects. But, if you are the gambling type, I'd stick with Bitcoin for dip-buying as that is the one crypto that SEC chairman Gary Gensler has stated in the past is "safe" because it is a commodity. www.benzinga.com As of 3 weeks ago I no longer have money in crypto or on any crypto exchanges, and I stopped using exchanges other than Coinbase years ago because I thought they were the only safe one since they are regulated. Originally was waiting for BTC to fall back down to $20k to buy back in, but am now actively shorting BTC via the BITI ETF with no plans of transferring money back on to Coinbase. Too much risk right now with the SEC slapping suits left and right while claiming most of these assets are securities.
INDEX:BTCUSDShort
by PrepForProfit
(ASX: $SPQ) ASX:SPQ Potential move to Z2 (Zone 2), due to increasing bullish volume, interest from retail, and organisational bodies. I don't think we'll see major moves in share price until we get some interesting market news. Top 20 Holders have remained the same over the last 2 years, current price reduction represents retail investors cutting losses. Despite having positive market news in April, sophisticated investors did offload some of their shares, not for a huge profit, but in order to buy back in at a lower price. ASX:SPQ Recently raised $4M AUD to proceed with further drilling and exploration projects. Options have been released with an execution price of 0.06c before Nov 24. This can be viewed positively, as the company is confident in its short to medium term capability, and is expecting to please investors. The top 20 Holders own roughly 31% of market share, considering they have remained the same over the last 2 years, we can be confident that they aren't going to dump huge volume on us retail investors. We can use the RSI to visualise how the institutions are maintaining a level of support at this key level, hopefully pulling us out of this 3 stage downtrend. I'll try and update this Idea as we get more information from the company in this exciting time!
ASX:SPQLong
by boiledpeas
AUDNZD will go downPair Name: AUD/NZD Time Frame: 4hrs Chart Direction: short Comment: 📢 Market Update 📉💰 📊 It appears that we could witness a bearish price movement based on the current technical analysis. The price has successfully filled the existing imbalance and encountered resistance at the prominent level of 1.09000. My target is to exploit the significant downward potential required to balance the market. 💱 At the moment, the AUD-NZD pair is undergoing a bullish correction. However, my analysis suggests that we might anticipate a downward shift in the near future. Consequently, I recommend considering a selling position to take advantage of this expected move. Stay tuned for further updates and trade wisely! 💹💵📈 ❤️ Please, support my work with Like and subscribe to never miss a new idea! - thank you!❤️
Short
by michaelmolek
1
AUDUSD pivots suggest a short scalp`I believe that price is retracing bearish for its 4H higher low, in the meantime, intraday swings on a lower timeframe must correlate with becoming bearish. The 1H has already began creating lower lows and a lower high. I will monitor to see if price creates a higher high of gets rejected at a key neckline, resistance, trendline, and reversal area. There's a lot confluence in this area. Currently price is relatively close to breaching the bearish correction, indecision is needed, along with volatility and indecision or a reversal at a key area.
Short
by DesharedPierreJr.
CADJPY Trend Change, GBPUSD downside continuesToday, we are focusing on the CADJPY chart as we observe the final stages of the wavestructure. The recent pullback from the previous momentum high (3) has formed a significant pattern known as the structural failure, indicating a potential shift in the trend. Considering our trading rules, we have patiently awaited the completion of the wavestructure (5). Now, we have identified a sell pattern known as the Market Structure High, characterized by a formation of three candlesticks at point (5). Shifting our attention to the GBPUSD, we can see that it is currently experiencing a downtrend, with the price trading below the Momentum low (5). No trend changing pattern has emerged yet, suggesting that we should anticipate further downside movement in the cable. Enjoy trading!
Short
by Charts247TradingAcademy
XAUUSD 2 HourDouble top has formed a key level resistance at the top, & a very strong bearish impulsive move has occurred after breaking price below structure. Now, I can see a short term exhaustion take place early in the week to retest previous support as new resistance forming a lower high, where sellers may step in again heavily to push price back to the previous low, & if that is broken a new lower low into the higher timeframe support region at the bottom can occur.
FOREXCOM:XAUUSDShort
by Profound_Ambition