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Downward-channel

BITCOIN after the FOBO ! ( FAKEOUT BREAKOUT) BITCOIN, after the FAKEOUT BREAKOUT, has re-entered the bearish channel that we’ve been monitoring for several months. This was a false breakout, which left many of us hopeful for a bullish market, but it turned out to be the opposite! But no worries, we must wait. The important thing here is that, within the bear market we saw last week, the price bounced off a very important and key zone that we’ve been tracking for several months. This purple zone is what I call my inefficiency zone, which I also consider one of the strongest areas where Bitcoin has previously made strong impulses. The only thing we should consider here is that Bitcoin will likely try to break the channel again. We can’t do anything until the price is on the other side of the channel. It’s that simple! Don’t try to enter right now because the price could pull back. Always pay attention to the immediate structure being presented and WAIT! We already have confirmation that the price has bounced within our inefficiency zone. Now, we just wait for the breakout, so patience is key! That’s my advice for this week. Best regards, and thank you for supporting my analysis.
COINBASE:BTCUSDLong
by RocketMike111
Bitcoin can decline to support line of downward channelHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days ago entered to range, where it firstly declined to the current resistance level, which coincided with the support area and at once started to grow. In a short time price reached the 71000 resistance level, which coincided with the seller zone and tried to break. BTC failed and made a correction movement, after which in a short time rose back and finally broke the 71000 level, but can't fixed and soon declined back to the current resistance level, breaking the 71000 level one more time. Soon, BTC exited from range and then entered to downward channel, where it first rose to the resistance line, but later declined back to the support line of the channel, breaking the 62000 level. Then price made an impulse from the support line to the resistance line of the channel, after which rolled down to the support area, where now continues to trades near the current resistance level. I think that Bitcoin can continue to decline to support line of the downward channel, therefore I set my target at 55000 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
EURJPY Remains BullishHello traders, today we will talk about EURJPY currency pair, which remains bullish based on recent price action from technical point of view and wave structure from Elliott wave perspective. EURJPY is bullish, but it was slowing down for the last month, which we from Elliott wave perspective clearly see as an A-B-C correction within uptrend. With recent impulsive five-wave rebound and three-wave a-b-c correction, we may have a nice bullish setup formation that can send the price back to highs within a new five-wave bullish cycle. From technical point of view, we remain bullish as long as the price is above 133.40 invalidation level, but to confirm a bullish resumption back to highs towards 145 – 150 area, it would be nice to see broken channel resistance lines. Keep in mind that bullish confirmation level is only above 142.30 region. Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Long
by ew-forecast
2
EURUSD Long to demandWhat Happened: Price broke market structure in mid-May (price broke out of the bottom of consolidation zone, now the supply zone, and then broke higher). About a week later, the top of the downward channel was not respected. A strong rejection would have given a good indication that although market structure had broken earlier in the month, the down trend would still continue. At first it looked like a reversal might happen, we saw an engulfing candle at the reversal point, but a second engulfing candle took price back out of the channel, where price closed and ended the week. What's Next: I'm targeting the next highest consolidation zone, which lies right above the next resistance level @ 1.081. It is possible we could see a reversal back down to support @ 1.064, but I'm always going to side with the trend. I expect to see a rejection at resistance but price should eventually push through to demand. I'm going to make two market entries later today, the first targeting resistance and the second targeting demand. When my first target is hit, I'll just set my stop to 40%-50% profit and let it run. That's my plan we'll see how things go.
Long
by NeoDaNomad
2
Palantir $PLTR Sub $10 Before Earnings?PLTR missed forecast by nearly 45%, the CEO (Karp) has been critical of short-term event horizons. Couple the previous miss with: - Economic: Macro headwinds due to sharply rising prices w/ rampant inflation that's looking to be persistent - Technical: Support on the 20/50 EMA will be tested again seemingly, bigger focus is being rejected without gaining momentum to test the 100 EMA is a surprise Next few days' price action will be interesting.
PShort
by R0MM3LL
3
LONG ON EUR/GBPOn the weekly timeframe we have a downward channel and price is currently bouncing off a support/demand zone as well as the trendline. The overall trend for this pair has been down, so if price decides to break support and fall it would actually be (expected) because of the trend (even though I am taking a buy on this trade) If price breaks and retest the support level I will look to exit my buy position and enter a short position. Here is the play I will be taking on this trade: PAIR = EUR/GBP ORDER TYPE = BUY STOP (PENDING ORDER) LOT SIZE = Micro lot (0.01) (0.02) ENTRY PRICE = 0.83899 STOP LOSS = 0.82966 - 93 PIPS TAKE PROFIT = 0.85440 - 154 PIPS
Long
by TB305
A pullback is needed, Bitcoin might see 46K area again!Bitcoin Comprehensive Analysis Bitcoin is still in this downtrend channel and as long as we are in this channel, We can't expect the trend to reverse! I think there can be a pullback(Trend Still Bearish), So this pullback can be continued maximum up to the yellow area. 40K is the most important support area, I don't think that This support is going to break before a pullback. Just note that it's is so important for 40K to be maintained.
Long
by TahaZargar
Short on AUD/CAD 12-26-21AUD/CAD is currently in a downward channel Price has stalled and traded sideways for the past 2 days at a resistance zone. I am waiting for price to break below the uptrend line on the 1hr timeframe which is extremely close to doing so at the moment. I have set the following pending sell stop order to capitalize off the trendline break. PAIR = AUD/CAD ORDER TYPE = SELL STOP (PENDING ORDER) LOT SIZE = Micro lot (0.01) (0.02) ENTRY PRICE = 0.92228 STOP LOSS = 0.92999 - 77 PIPS / $7.70 LOSS TAKE PROFIT = 0.90021 - 220 PIPS / $22.20 GAIN
Short
by TB305
BTC bounce before continuing downward?BTC has recently had one heck of a dip over the past few days, but looks like a descending channel has now begun to form (red lines) that looks like a bounce might be in order. A bounce from around the current price also looks to be nicely around the 38.2% long-term Fibonacci retracement from the most recent high. Additionally, the 4-hour chart looks to be giving so much divergence on oscillators as confirmation that I figure it not even worth a mention. If a bounce here does occur however, I should note that the trend definitely looks to be downward as confirmed by the descending channel as well as a head and shoulders pattern (as indicated by the red head and shoulders lines) that looks to have broken a couple of days ago that looks to nicely extend to near 27K near the 61.8% Fibonacci retracement (as indicated by the yellow dotted lines). It should be interesting to see how it all plays out for alts if a bounce does occur, as there is a potential for a few more bounces and breakouts before a potential further drop around early-June which is fairly reminiscent of 2017. This is not meant as any type of financial advice and is just my opinion. But please like or comment if you agree or see anything differently.
BITSTAMP:BTCUSDLong
by crypto_trends