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🔥XRP: is a bull trap possible? Where to open a trade?Hi friends! Is a bull trap possible and where to open a trade? Which scenario should you follow? In this idea about Ripple i`ll try to answer the questions. 📈On the chart, I've marked the trend line to which the price is squeezing. After the false breakout there was no deep pullback, which is positive for the bulls. But what else should we pay attention to? The bulls accumulate long positions every time the price falls, as you can see in the volume indicator. 📊And here the main question! Do they become fuel for the price fall and sell off their XRP at a loss? As long as the market isn't in a trend, that's to be expected. Watch for a false breakout of the trend line and the volume indicator. Volumes growth will show that the bulls have accumulated a position on a trendline breakout, and on a false breakout they will sell out, which is a good opportunity for us to open a short. ✅Targets. I think that the price can reach at least $0.34-0.37 liquidity gap. 📊Also, a scenario with a squeeze under the trend line and a breakout is possible , but before that there should definitely be a bear trap with the same volume growth. ✅Targets: 0.42-0.43 - value zone, local highs 0.46-0.47 - liquidity gap, important price levels 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
2
✅FTM: false breakout of the triangle! How to trade it?FTM is moving in a triangle, and if bitcoin falls, it will pull the altcoin price with it. 📊What are the preconditions for the price fall? 🔶First of all, the volume indicator shows that a lot of FTM coins were sold out after the huge growth. All these long traders will be fuel for the fall after the triangle breakdown. Additionally 2 other volume growth at the bottom shows us that the some traders accumulate FTM for long but also can be trapped. 🔶A bullish trap that could happen if the price break it up and return to the triangle would be a second reason to open a short. Volumes on the indicator should rise above the average, which will show us selling to long traders, after which it will make them fuel for the fall. Also, the price could squeeze under the lower boundary of the triangle and break it down without a bullish trap. 🔶The price is now in the middle of the value area of $0.34-0.38, but if the price falls under that area, it will become a huge resistance for the altcoin. ✅Target 1 - key level of $0.3 ✅Target 2 - key level of $0.24 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
3
🔥TWT: wait for the next bull trap to open a trade!Volumes have not increased since the bull trap. This means that the bulls have not yet liquidated and the price can go lower. When the price falls to the trend line, the volume also did not increase, which shows the lack of interest from the buyer and additional bad signal. 📊Which scenario is more likely? A slight rise in price to the second value zone of $0.65-0.67 and a second bull trap, this time with increased volumes, which will show a large number of trades in this zone. This will give additional confirmation that the price is not going to move higher: short traders sell their TWT to long traders and the price goes down, while long traders become fuel for the fall, selling the altcoin lower and lower. 📊Targets: 1. $0.55 - key level. 2. $0.45 - key level below which a lot of liquidity for big players to open their long trades. This is the area of massive liquidation and retail traders capitulation zone. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
3
🎂CAKE follow BNB. Is it time to buy after 15% fall?After BNB annaunce investing in Cakeswap it`s pump for 17% in 8 hours. As you see at volume indicator someone sells a lot of the coins (take profit). But why the price dump to the previous valua area of $4.34-4.42? The SEC raised a suspicion of Binance similar to the Ripple case. Allegedly BNB are shares of the exchange, which is not allowed by law. This news dump even Bitcoin for 6%! 📊 What is good for bulls? 🔶Price is trying to close inside the valua area of $4.34-4.42. It`s the first sign of strength. 🔶The second positive sign for bulls is the volume growth. What this mean? Someone open additional long possition because there is enough liquidity to buy. 🔶If the price start to squeeze to the trendline and additionally volume will grow it will be the third signal that bulls show the strength and ready to pump the price. 🔶Closure of cases of possible violation of the law by Binance exchange will give a strong boost to the price of BNB and CAKE. Targets for long are marked on chart: $4.88 - key level $5.65-5.85 - value are 📊 What is good for bears? 🔶The bulls were traped even on BTC so it`s possible that the price of all alts will follow the BTC price if the dump continue. 🔶If the SEC continues to investigate Binance, all altcoins linked to this exchange (CAKE, BNB, WRX, TWT) will consolidate or fall for a long time. For example, Ripple, which is about 2-3 years in a similar position in the bull market grew less than Bitcoin, although it has a capitalization of 10-15 times less. 🔶The false breakout of the trandline will b additional sigmal that the bulls haven`t enough power to push the price higher. Binance is the largest crypto exchange and it`s hard to image that it will be banned. Perhaps the exchange will just pay a small fine, since the proceedings only concern 2017. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
5
GMT in the local uptrend, SHORTHello everyone, let's take a look at the GMT to USDT chart over the 4 hour timeframe. As you can see, the price is moving above the local trendline. Let's start by identifying the stop loss we have in the near future: SL1 - $ 0.9975 SL2 - $ 0.9070 SL3 - $ 0.7979 Now let's move on to the goals we may consider: T1 - $ 0.9994 T2 - $ 1.0598 T3 - $ 1.1099 T4 - $ 1,7579 Looking at the CHOP indicator, we can see that in the 4H interval most of the energy was used, while the MACD indicator indicates a local upward trend.
Short
by cryptodailyuk
✅BNB: trendline breakout after accumulation.Hi friends! The BNB is trying to breakout the trend line. After the 6% growth in a few bars, the price needs to gain strength and make a small consolidation under the trend line. The targets: 1. $330-335 - first value area, local highs. 2. $354-361 - value area, big liquidity gap under it, so the price can easilly pump here. Preconditions for the growth: + volume growth at the bottom means a lot of big players buy BNB to earn on price growth. + the price rise above big vaue area $296-305 which become the support for the BNB. + Bitcoin show the strength and starts pumping what help alts also to grow. + trendline squeeze. Who will become "fuel" for this growth? Short traders, who opened trader in this consolidation expecting the dump. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
5
📈MATIC: will the bulls finally show their strength?Hi friends! In order to understand what will happen to the price of Polygon(MATIC) next, let's look at the history and where its fall stopped. This is the key level of the previous ATH of $0.54. The volume indicator shows that here long traders closed their trades to breakeven, and short traders, closed their trades in profit. That's why there was such a price rebound. 📊Now the price returned to the trend line, from which it had already bounced back several times. This is a good signal, it means that the bulls gain their power back. Pay attention to the volume indicator when the price rebounds to the trend line - the volumes should increase, which will indicate that the traders' willingness to buy and to move the price higher. ✅The closest target is the liquidity gap of $0.75-0.79. Also in this area are stop-losses of short traders and take-profits of long traders, which can lead to a false breakout and price fall, so watch out for this liquidity gap. When the scenario starts to be clear, I will make a new idea so you can open a trade in time. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
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by Yuriy_Bishko
4
GMT close to supportHello everyone, let's take a look at the GMT to USDT chart over the 1 day timeframe. As you can see, the price is moving below the local downtrend line. Let's start with determining the stop loss that we should take into account in the coming days. As you can see, we have a fixed 3 stoploss: SL1 - $ 0.907 and SL2 - $ 0.798 Now let's move on to the targets that we can take into account, as you can see the targets are at the price: T1 - $ 1,027, T2 - $ 1,165, and T3 - $ 1,279 Looking at the CHOP indicator, we can see that in the 1-day range we still have some energy for further moves, looking at the MACD indicator, we see that the blue line is getting closer to the red line when it crosses from the top, it will confirm the downward trend.
by cryptodailyuk
1
GMT is based on 1 stop lossHello everyone, let's take a look at the GMT to USDT chart over the 1 day timeframe. As you can see, the price is moving below the local downtrend line. Let's start with determining the stop loss that we should take into account in the coming days. As you can see, we have a fixed 3 stoploss: SL1 - $ 0.997 where the price is currently located. SL2 - $ 0.907 and SL3 - $ 0.798 Now let's move on to the targets that we can take into account, as you can see the targets are at the price: T1 - $ 1,027, T2 - $ 1,165, and T3 - $ 1,279 Looking at the CHOP indicator, we can see that in the 1-day interval we still have some energy for further moves, and the MACD indicator shows that we are following the local upward trend.
by cryptodailyuk
2
🔥MANA: $1 become strong resistance! What`s next?Hi friends! The value area around $1 has become resistance for MANA. What's next? 📊On the chart we see a return to the trend line after a small bounce. This shows the weakness of the altcoin. There is also no reaction on volumes, they have stayed the same. The chance of a fall is return. 🚩Targets: 🔶1. $0.86-0.99 liquidity gap. 🔶2. $0.73-0.72 is also the liquidity gap and not a strong target, but it is worth noting, because the nearest possible support for the price is behind it. 🚩Also, a false breakdown of the first liquidity gap is possible. The $0.86-0.99 liquidity gap placed exactly under the local low and key level of $0,9 so it`s highly possible. Growth in volumes will confirm the presence of buyers. 🔥Keep in mind this 2 scenarios. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
1
🚀ADA: does it reach these targets? Cardano reached my second take profit. After such a strong momentum movement overtook XRP in the list of the largest cryptocurrencies and took 6th place. 🚩What are the preconditions for a local correction? 🔶Breakout of the trend line and test it as a resistance. 🔶Rising volumes on the previous momentum. Indicates that a major player made a big sell-off. 🔶Weakness of altcoins to the Bitcoin. 🔶Bitcoin weakness near the $30K level. 🔥Fuel for the fall, will be traders who bought Cardano on rising momentum. In case of fall they will close their longs at loss and pushing the price down. 📊Targets: 0.51-0.54 - local target 0.45-0.47 - possible target 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
2
📊What is a key level? How to use it in trading? Clear tutorial!What is a key level? A key level is a price level on the chart that creates the support or resistance to the price when it falls or rises. A key level is also called an extremum. 📊There are 3 types of levels in total: 1. Resistance level — when price rises and rebounds down when it test the level. 2. Support level — when price falls and rebounds up when it test the level. 3. Mirror level — when the level is both support and resistance. 🚩How to identify the key level? As a rule, the key level may be either the price maximum (high, H) or minimum (low, L). Price maximums occur when the price moves in a trend (bearish or bullish). It is harder to identify the key levels during consolidation, because often the price simply blurs them, making false breakouts, as we can see on the Bitcoin chart. Especially often the key level is the global highs (ATH). It can be found on any timeframe, but the higher it is (4 hours, 1 day, 1 week), the more clearly they work, because the level of 1 week may be identify by a scalper, a swing-trader or an investor, while the local levels of 1-30 minutes are only looked at by scalpers, i.e. a smaller total number of traders. Usually, the key level is an even number: 1, 50, 100, 1000. For example, $ 50,000 for Bitcoin, $ 2,000 for Ethereum, $ 1.5 for Forex pairs. 💹Why do key levels work? It's all because the traders place their orders near these levels. To put it simply, key levels work and price reacts to them, because a large number of traders often use them. Every trader knows that when Bitcoin is falling, the level of $ 20,000 will be support for the price, because this is the level of the previous ATH, and most traders put buy orders, so the bounce of the price can be huge (10-20%). ✅How can you use a key level in trading? There are many different uses of the key level in trading, for example, trading a rebound from a level when a trader places a buy order below the level or a sell order above the level. As I said before, the more prominent the level on the chart, the stronger the price pullback, so some traders place their orders near key levels in advance to buy or sell at the best price. Also, I use the key level on 30m-4h timeframses to identify price weakness or strength for false breakout trading. A false breakout of a key level shows that most traders are set up for a price move in the other direction. 🔥As many traders as there are ways to use the key level. My advice is to be craftier and use the key level with the rest of the technical analysis instruments, candle patterns, indicators. That way your win rate can increase significantly when different approaches are used together. 🏁Traders, how the key level helps you to identify the best entry point? Share your idea or a screenshot in the comments! 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
Education
by Yuriy_Bishko
6
🚩EGLD: falling wedge breakout! Wait for confirmation!EGLD price made a bullish wedge after a false breakout. As we know, the crypto market has its own specifics of patterns. Often it happens with manipulations, collecting of stop losses, false breakdowns, etc. In this case, the manipulation was the first time when the wedge was broken out, when the candle collect liquidity above the wedge and returned to it. The price fell by 8-9%, almost the same as the entire crypto market. It`s not to much and show the bulls power. By volume, we see that this altcoin has been bought 3 times at the bottom. This indicates a big player who is accumulating a position. Locally, we might see a breakout of the bullish wedge. If the volumes grow on price pullbacks, it will confirm our bullish scenario. Targets can be identified by the horizontal volumes indicator. It`s the largest value areas, where the most of traders will close their position: $90-93 $107-110 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
3