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Descending Triangle BTC Daily & Macd EMA9 Crossed Signal Line On the Day Chart we have a Descending Triangle Forming. With the Price Target Aligning Well with the 200 Day MA At 33,000. I'd Expect This Being a Quick Correction As We've Had a Golden Cross on the Weekly Which Can take a Couple Weeks to Really Take Effect, So i'm expecting this to be the last down draw Don't be psyched out this is crypto! We also have the Moving Average Convergence Divergence Line Where the EMA 9 has Crossed the Signal Line After a Sell Signal Has Been Called
COINBASE:BTCUSDShort
by Tracking_Technicals
The consolidation phase...for now.. #ADAMany will say the crypto bull market is over, "there is no way the price can recover after a 60% dip.", I say let those believe what they want to believe. The reason I say this is because those who have the mindset that the market is doomed and has no way of continuing to the bulls, are people who have not done enough research to understand market fluctuations and the overall volatility of the crypto market specifically. Therefore it is very important to to do your own due diligence and not base your trading decisions on the idea of others and especially not the mainstream media and news platforms, as their goal is not to make you money but rather do the opposite of what they are doing. Some say it is a good idea to always do the opposite of what the mainstream tells you to do, I personally feel this is quite excessive as your decisions should not be formulated from only one source but rather many, therefore this statement is a bit dramatic, but in a broad sense is very valid. In my opinion the situation we find our self is not a bear market, but rather the over extension of previous market movement for the current time the price was in. To elaborate on this statement what I mean is that every asset, stock, bond has a true value for its current stance in time, which is based on the advancement of that specific asset. Therefore I can say with confidence that the current consolidation area the price is in is Cardano's current true value and I don't mean it will stay here forever and definitely feel that ADA has the capability to go to the triple digits, but for now this is where we are and we are all so deceived by the massive over extension that lays behind us that is clouds our judgement of the future price. The crypto market especially ADA is in its early stages of adoption and is not close to reaching its full potential. In the following lines I shall give my opinion from a technical sense of the current market: We have fallen to as low as $1 dollar which is a key level of support and has been that way since the early stages of the bull market. This factor alone can be seen as a very bullish signal which in return has resulted in just that as we have seen a massive daily candle rise from the fall down to these levels. This green candle is further emphasized as it has greatly engulfed the previous red candle, which is seen as a bullish signal or at least a bullish hint among further technical indication and confluence. There is a strong argument that the next few days will be filled with bullish movement within the consolidation area heading for the strong resistance level set at $1.49 - $1.56, once this movement occurs it is possible the price can further break out of the area as there is clearly a double bottom formation which has used the $1 level of support as the base of its reversal, The fact that this level is used as the base increases the likely hood of this formation playing out as it is stronger. If this formation plays out correctly we could first see a slight retracement in order to complete the formation before the price moves to the predicted level of $1.94. In conclusion I would like to state that all my writing is pure speculation and is based off my own limited research and knowledge of markets. Nothing I write should be registered as fact but rather a opinion above your own. I wish all who read this article a strong mental wellbeing during this time of supposed dread as prices are so long, and I advise those who are in dread to see this as one of the greatest accumulation phases yet. Thank you if you have read up until this point and if so please leave a like and comment your opinion on the current market and where you think it is going based on your own due diligence. #ADA #TRADINGVIEW #THEFUTURE #NOTFINANCIALADVICE #TECHNICALS #SMARTCONTRACTS
BINANCE:ADAUSD.P
by Crisp_Flow
2
The double bottom scenario! As I was doing some restructuring of my previous lines on the chart i came across a slight switch up of future direction in the medium term. Based on my time adjusting my BTC chart i have been pushed slightly more to the bullish side based on both technicals and fundamentals which have arisen, and are slowly shifting the narrative over the markets. My reasoning will be discussed blow in terms expressed simply for those who are new but technical enough to be applicable to those of a experienced background on markets. 1) Flag formation (neutral): although the flagpole originates from a bearish direction the flag is seen as a downward trending slope. Therefore technically it can be argued that the formation can both be interpreted as bullish or bearish, depending on the signals being created within the flag. I shall be explaining why my view is more bullish than bearish in my opinion. 2) Double bottom (bullish): This formation is known widely as being a bullish sign or bearish if it is inversive. This formation is more powerful based on that fact that it also forms a bottom for the flag formation increasing the likely hood that it will reverse. Although the neckline of the formation cuts through the Golden pocket of the fib retracement which will act as strong resistance for price to break through. If price breaks this area it will be seen as an additional point of confluence. Thereafter there is not much resistance between the Golden pocket (GP) and the Target point (TP) which sits at the $38.8k mark. My medium term prediction for the the price based on the fact that the technicals are looking good as well as the narrative is beginning to shift, should be around $41k, which is labeled as the 50% fib level. Although this may look easy to achieve, it surely wont as the bulls would have to step up to break above the strong resistance levels that lie ahead of the $40k mark. NB: Be advised that all technical indicators and formations expressed are based on my personal opinion and limited knowledge in the field of technical analysis. Don't base any trade off my opinions but rather take it as a perspective upon your own research and analysis. Thank you for reading up until this point of the article. All likes and comments would be much appreciated, and if you have any thoughts on this article feel free to express your opinion whether it is good or bad. #notfinancialadvise #tradingview
COINBASE:BTCUSDLong
by Crisp_Flow
BTCUSDT Full Forecast Bitcoin is still looking for bullish. It is supported by triangle breaks and bullish formations. So, it is so strong signal for buy for short term gainings. Also it is following base on up trend way and I don't think it is going to break down. And while Bitcoin is a fomo material, we will see strong buyers in short term. I will share SL and TP zones in another only-short-term forecast. As it is in the short-term, while above the trend, we will not see a bearish soon. Actually this price line, under the 61k is very good buy zone for mid-term traders. Keep following because nobody can know what will happen if it breaks below. I'm one of thinkers Bitcoin will rise over $250k. If you are going to buy in spot, you can; always actually. But this is not a good spot for leveraged long term buyings. I would suggest you to buy and follow the trend so close, because above the trend, we can't go anymore lower. Of course use a stop-loss in short and mid term transactions, because this is high volatility insturment and any news, as like banning cryptos in India, can make a strong push below the trend.
Long
by egecvn
Short term long with good Risk reward + formations probabilities6500 is being tested for the second time. While it is really early for a reversal, a short term pop to 7500 could be an interesting risk to reward with a stop loss at 6500. If the second or third test falls just under 6500, then expect a dump and pay attention to where it bottoms out to clearly see what kind formation is coming. Possible formations and probabilities: Ascending triangle (35%) (1 week to finish) Rising wedge (10%) (2-4 weeks to finish) Price channel (45%) (1 week to confirm, 4-6 weeks to finish) Descending wedge (5%) (2 weeks to confirm, 4/6 weeks to fin) Inv head n shoulder (5%) (2-3 weeks to confirm)
Long
by pokp
Dax Index: GER30 Topping Formation short Set-Ups Clean Chart/BDax Index DAX Topping Formation If you trade Bitcoin you will be familiar with this pattern for sure. Having broken below the longer term lower parallel the Dax has fallen away to structure lows to left of price, dropped a little lower to take out the last swing long stops - and then promptly swung back higher again. In doing so it's tracking up a smaller pair of parallels back towards the larger parallel above it. It is going to have an insumountable problem breaking above either of the parallels now above it. In addition to showing topping activity now we have a seasonal pull working in opposition to price. 'Sell in May and go away, come back on St Leger day' is an old stock market adage for a reason. Up to 2015, in the 65 years since 1950, the US stock market has returned just 0.3pc on average between May and October. That compares with a 7.5pc average return from November to April. This significant difference is the justification for the age-old adage. St Leger is the day in September when the horse race of that name is run. It is the traditional end of the season, short-hand for being out of the market during the less profitable summer months and fully invested in the winter. This pattern of seasonality is very much present but not apparent every single year. That would be too much to expect. Nevertheless, it's very much there, even if it does hide sometimes inside the noise. Long story short, this index is vulnerable again now. It's testing the junction between fixed and dynamic support lines at 12789 now. Failure to hold here should tip it back into bear hands again and force it lower to 12599 to begin with where it should try to bounce away again - any failure to do so will trigger another wave of selling back to 12323. Both these breaks should be worth shorting when they come. Any break below any fixed line of support by more than 25 points should lead to a near term test of the next support line. The biggest of these moves lower is the last, from 12300 down to 11856-11744. On the upside this index has to hold up at 12789 now for the bulls to stay in control from here. It can do this one last time and rally from here right back to the highs and just take the stops above out, before falling away again. This is effectively inverse price action to the action we saw at the last swing lows of March. But that is a best case scenario. At best this is a speculative buy at 12827 because the stop is so close by, just under 12800 for 30 or so loss if wrong here. But be ready to short on first break below 12800 with stops 60 or more above. The up-trend looks to be waning and running out of upside momentum now. Be ready for the break lower, maybe set an alert, and act on it. It could be a good trade - if we don't get stopped out first...
FX:GER30Short
by sumastardon