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BTC healthyBTC give RSI and falling wedge breakout and makes bullish jump, it seems to hit a resistance line at the neckline for a H&S pattern on the D1 chart. Last time BTC breakout RSI it went up, corrected and went up again as indicated by the red and blue boxes from August last year. I expect BTC to bounce off the support line, maybe consolidate a bit while liquidity enters market before we see it jump to the resistance for another retest. RSI is bearing on D1 chart hence why I think there will be consolidation/correction. $42k is a good price to pick BTC or any alts. Coins like EOS which are at ATL in BTC pair will be good to pick when BTC is at $42k. Trade between the lines, trade safely.
by sebastianjohansen
US 100 AnalysisMy TA analysis for next week. Daily Timeframes : BULLISH. Current Direction of market is BEARISH. (short term) Chart Pattern : QMP Setup (Sell) + QMP Setup (BUY) On this BIG Ranging. At Current setup is still bearish movement because price have break 2 H1 SUPPORT. For next week, watch what pattern form on lower timeframe (M15,M30,H1) at H1 Support. Continuation or Reversal. If the price Succesfully Break the H1 Support it will retest and Target TP 2 Zone. Always watch on lower timeframe when the price reach SNR / Fresh previous BASE. Hope this would help. May this 2022 give you a lot of blessing, new adventures and good fortunes . HAPPY NEW YEAR Boisss .. :D
U
by RiqqiRider96
Have to take into account all possibilitiesMy personal time learning to do TA especially with bitcoin is to try and find multiple outcomes both bearish and bullish. I have seen too many in this space get too deep into a one-sided bias and watch their losses be quite substantial because of it. Mostly that has to do with expecting bitcoin, or any asset for that matter, has to hit a specific target and get stuck in a cycle of showing only the possibilities to reach that specific target. So what is presented here is a real possibility based off of a bitcoin nearing the end of a 5-wave super-cycle. Elliot Waves which make up a lot of what is seen here are always speculative so, as always, this post is highly speculative but also shown with confluence. This to me makes it a real possibility. The main ideas to take from this: (Note: I choose the 2W time frame here as it is the best way to present this idea clearly.) The logarithmic curve which has been shown to be resistance through-out bitcoin's history is nearing yet another touch at the top. Not shown but for each 1, 3, 5 there are smaller 5 impulsive waves within each and also 2 and 4 have a proper A,B,C correction. The target of ~75k is based off of both a touch on the log curve and Gann's Solar Dates theory to start. This would be another post to explain all together but will show how accurate the dates have been for quite some time now by the time frames I've highlighted and how they have correlated with bottoms and tops. December 6 is near enough to Dec 1st to warrant it as possible: The current Elliot Wave count shown on the daily suggests that the top could be in as it is getting rejected around the 0.618, but I look towards the 0.786 as a possible target or anywhere in between: This shows a fractal taken from the previous tops back earlier this year and comparing it to now. RSI is predicted here as well. It also shows a top getting close to 75k near the December 6th date as shown by previous images: The targets for the A,B,C correction and an eventual possible bottom of around 6.5k: The timing is based off of the 2013 double top as shown. This would put the bottom sometime in January 2023. The Elliot Wave shows a path of 5 waves for A, 3 for B, 5 for C. C does over-extend the one-to-one but bitcoin has done that often for its last wave down in the past. I tried to match these as close as possible to areas of historical support and resistance. The trend line (on a log scale) from the bottom in 2018 & 2020 does cross at this date at this 6.5k price pretty accurately. The target is also a because of a possible H&S forming with the neckline around 40k. The target of this formation is shown to be ~35k downwards as highlighted here: I do not believe a H&S would form based from these last 2 ATH during the year as a scenario for that would have a target of under $0. I do not believe that would happen. The last shows that there is a very high volume node in this area and also a lot of historical price action as well: This is of course a very bearish scenario but based off of my research it does show a lot of confluence to make this a possibility to take seriously. The target is just coming from the TA done here so I do not think of this as a certainly at all as too much can always happen in the next year. But I feel that looking to a drastic scenario as shown needs to be taken seriously as long as proper TA is conducted and confluence is showing as a result. Straying too far towards one bias is just an easy way to get Rek't and I continually train myself to avoid it. I do have bullish targets too but will have to be another post as this one is already long enough! Hope these ideas can help and at the least show something different and to see things from different perspectives. This asset requires it from all that trade and/or invest in it. ***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***
BNC:BLX
by WITSIT
2
Head & Shoulders pattern: 1st Confirmation #EURUSDThe Head and Shoulders pattern is one of the oldest recognised market structures. Representing a fully formed fractal when completed, the H&S confirms a short term reversal in trend. Setting the levels 50%,100% and 200% on the Fib tool, I have devised a simple system of confirmation/action to take advantage (profit) from the completion of the Pattern. 1st confirmation occurs when price first breaks below a previous low. This establishes the Neckline (100%) a horizontal line drawn from the valley (armpit) of the left shoulder. 2nd confirmation occurs when price retraces back above 50%, forming the right shoulder. Agressive traders enter short above 50% with a stop loss at 0%, this entry statistically is higher risk but also higher reward. Final confirmation occurs once the right shoulder has formed, price continues down with a candle closing below the neckline (100%). Conservative traders set a Sell limit at the neckline (100%) with a stop loss at 50% immediately after the candle close. Both aggressive and Conservative traders close at least half of their position when price breaks below 200% Although I consider the H&S Structure completed once 200% is reached, the levels outlined in my system continue to effect price for days/weeks and even months later.
by Cryptsyxalt
3
Possible Short-term Top in the S&P500Seeing a rounded top beginning to form after a pretty clean ~40% run over the last year or so. This setup remind me a lot of crude oil short I posted a few weeks ago. I did just post a TSLA long idea which totally contradicts this idea, since TSLA is now tracked in the S&P index. Nevertheless, when I see a clean pattern I want to post it. IF this does play out, would probably see a < 10% correction down to the 200 line in pink before turning around. Still a very bullish investing environment overall given interest rate environment. Emphasis on short-term possible top.
FX:SPX500Short
by tyler_sim
1
GBPJPY Potential Short OpportunityMonthly Analysis: Price is at the level where it's making a third touch on the descending trendline from 2007. (I know, that's a long time ago ^_^) Weekly Analysis: Price has been in an uptrend since March 2020 and it has come to the most recent highs since February 2018 in the 155.600 zone. This is a place where sellers could be waiting if price is rejected. Daily Analysis: Since price approached this 155.600 zone, it has started forming a Head 'n' Shoulders pattern which if it is validated, could signal the start of a downwards move back to the 126.656. My approach to this potential setup will involve waiting for price to: 1. be rejected at the 153.475 zone (Right Shoulder) with a Bearish Engulfing Candle (an entry here could work for me but would be aggressive) 2. close below the 149.252 (Neckline) which should also be lining up with the 200DMA (entering here could work for me as well) 3. retest the broken 149.252 level and continue downwards. This is an ideal scenario but I generally like keeping trading simple :) Please let me know what you think, I'm open to improving my analysis. OANDA:GBPJPY
Short
by harveytiven
BTC Wyckoffian Analysis - Appearing alerts of Redistribution I posted on my last post here, that I’m thinking the price will rise, but now I think I was wrong. I think there’s a lot of weakness in the market and I will explain why: 1. The highest VP points on the lower half of the range - that is a Sign Of Weakness(SOW) because it means the for most of the range, there is not enough demand, the supply slowly pushes the price lower, and the demand fails to handle it. 2. The volatility is noticeable - there is not even one bullish movement that is not answered with an equal or stronger bearish movement 3. The range keeps getting lower lows 4. OBV decreases through the range - indicates higher volume for bearish movement 5. Macro descending triangle - the range is also a triangle pattern, which indicates movement continuation 6. Macro H&S - the range is the right shoulder of a much bigger H&S pattern
Short
by dma300