Get started

Fakeout

US30 BUY SIGNAL May 13 => price bounced off the support and daily trendline May 14-18 => price broke through resistance but it was a fake breakout and price is now falling back down Prediction: Im expecting price to EITHER: 1. pull back to the 50%-60% fibonacci retracement area then continue up OR 2. retest again the daily trendline and support before continuing up READ HOW THE CANDLES ARE FORMING AT THE POTENTIAL BUY AREAS AND ONLY ENTER A BUY POSITION IF BULLISH CANDLESTICK PATTERNS APPEAR AT THE AREAS OR THERE ARE SIGNS OF REVERSAL ~trade responsibly ~patience is key GODBLESS Y'ALL MAY WE ALL BE RICH
ULong
by PandaTrader09
4
BTC break out of fake out?Bitcoin looks to have temporarily broken out of its descending channel (red solid lines) over the past few hours. But many eyes are wondering if BTC will retain its positive trend. On the one hand, a normalization around a round number like $55K would be fairly common leading to a potential to jump out to near $56K before potentially retracing back to the trend line (as is common during breakouts) and hence solidify a breakout. On the other hand, volume is not strong and hidden bearish continuation divergence still exists on RSI, indicating that the price might head back into the channel and either continue downward (toward 40-44K) or form a more forgiving descending channel (dotted red lines) approaching near $47K. It is truly anyone's guess in my opinion as the daily chart shows fairly positive trends and may continue upward upon zooming out, but the bearish scenario definitely looks to be in play unless further price increases continue over the next day(s). But please don't take this as advice, particularly with all the volatility occurring, as this is not financial advice but solely my opinion. But definitely like or comment if you agree or have similar or different thoughts!
BITSTAMP:BTCUSD
by crypto_trends
1
EURUSD could start its descent from hereI am still looking for shorts following my HTF analysis from last week. Following that last drive up, it looks to be an overextended impulse and from my point of view, assumed fakeout if we see DXY reverse from here. Following a scalp on that impulse up, I entered a high-risk short, hoping it goes down to the 0.618 fib level as I have been anticipating. Support for this idea: Price action is looking like it will break the minor order block support DXY rejected off a key level DXY looks to be oversold as we start to see price consolidating and the sellers appear to be losing strength COT data shows net positions increasing for DXY and decreasing for EUR Still looking for the H&S structure to complete before the next wave up If we see an impulse with a strong push down, I will look for scaling in around 1.199. Invalidation if DXY makes another drive down. Let me know your thoughts. Trade Safe! HEET
Short
by AfterlifeTrading
7
Fake-out of an Ascending Triangle for BTC?It appears as though Bitcoin has pulled a fake-out to the upside of an ascending triangle but has found support on the blue upward sloping support of the pattern.. On the RSI there's clearly a lower high after lower high since BTC reached ATH's forming a descending triangle pattern, but the downward sloping resistance is on the verge of being breached to the upside. On the KST there's a bullish cross where I've placed the blue downward pointing finger. Every time BTC has broken the horizontal resistance to the upside there has been a swift rejection by the bears. I have placed red downward pointing fingers displaying how often this has taken place to put things into perspective.
COINBASE:BTCUSD
by ScotianBot
3
Bitcoin Fake Out?Breakout or fakeout from desceding wedge formed over serveral days including a combination with a possible cup and handle pattern. Lack of volume indicates it was a fake out from the established trend. Where will Bitcoin go next? A bounce to the downside of the wedge will break previous strong support from recent weekly lows. A break to the upside will need considerably more volume over the weekend. Worth tracking whilst we float outside the descending wedge
BINANCE:BTCUSD.P
by cincosiber
ALPHAUSD AnalysisReasons to sell Strong resistance level at $1.90 - $2.00 currently being rejected once again with a 4th touch. Looks like there was a fake-out move around the 23rd-24th March with price breaking out of the strong resistance level previously mentioned. Weekend (saturday) and nearing end of monthly candle closure where a correction usually happens Reasons to buy Strong daily candle close the day before on the Friday (same day as options expiry) Options expired so selling pressure has gone Still testing the Strong resistance turned support level at $1.81
FTX:ALPHAPERP
by Kai-FX