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Bitcoin Meets ResistanceBitcoin has made an attempt at a rally, but several red triangles on the KRI have suggested resistance. We seem to have topped out just below our level at $45K for now. The Kovach OBV has quickly leveled off as we encounter resistance. It appears we are in a broad sideways corrective pattern after a large rally took us back to the $40K's again from the high $30K's. If we retrace further, we should see support at $41.9K and $41.6K. If we catch another burst of momentum, we will surely encounter resistance at $45K, then $45.6K, then $46.2K. If we are able to clear these levels the next target is $47.4K, but based on the price action and momentum, this is not likely for now.
BITSTAMP:BTCUSD
by quantguy
ETH - Wait For The Break! Come On BullsHello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. ETH is forming a potential big inverse head and shoulders pattern , marked by orange arcs. As per my last analysis, we are still waiting for the bulls to take full control , by breaking above the gray neckline which covers the entire pattern/structure. Meanwhile, until the bulls take full control, the bears can still kick in and push ETH lower to test the lower brown trendline. In this case, we will be looking for new buy setups to form. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:ETHUSD
by TheSignalyst
26
Trying to pin down the DWAC trend.I like to do these "gesture drawing" lines. You can probably find really similar lines with complicated maths, but these are not meant to be precise. The horizontal lines are just support and resistance levels. The lines slanted down are bearish trend lines, the lines slanted up obviously are the bullish trend lines. The purpose of doing this is simply another way to visualize price action. Like all charting. Once in a while I find a line that wasn't immediately obvious but appears to have a type of gravity to it... in this chart, that is the yellow line. The way it contacts the top of the day 1 candle so perfectly, it reminds me of an old quote... “Give me a place to stand, and a lever long enough, and I will move the world. ” -Archimedes
DLong
by Narsty_Boy
Bitcoin Extends the Sideways CorrectionBitcoin has found support in the $41K handle, and made another attempt for relative highs. We were able to inch above $43.8K, but are meeting resistance just below $45K. Several red triangles on the KRI suggest that Bitcoin is struggling to maintain these higher levels, and thus this rally may just be a leg of a broader sideways correction. If so, we anticipate further resistance from $45.0K and $45.6K. If we are able to break $46.2K, then $47.4K is the next target. However if we retrace and continue the sideways correction, we should see support again from the $41K's, and after from $40K. It appears that the markets still see the $30K's as undervalued for BTC but if we retrace further, $38.2K should be a strong level of support.
BITSTAMP:BTCUSD
by quantguy
ROSE - Purple War Zone!Hello everyone, if you like the idea, do not forget to support with a like and follow. ROSE is overall bullish trading inside the brown rising broadening wedge and now approaching the lower trendline acting as non-horizontal support. Moreover, the green area is a "Resistance turned into Support". So the highlighted purple circle is a very strong area to look for buy setups as it is the intersection of support in green and the brown trendline. As per my trading style: Since ROSE is sitting around the highlighted purple circle (area) I will be looking for possible buy setups (like a double bottom, trendline break, and so on...) Unless ROSE breaks the green zone downward aggressively with many big bearish candles, then it will become resistance again and we will be looking for sell setups on its retest. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
10
ETH - One More Roadblock!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. As per my last analysis (attached below), we were waiting for the bulls to take over, by first rejecting the support then breaking above the upper gray trendline. However, the bulls were too strong and broke the gray trendline before forming the third swing around it as per my trading plan. UPDATE: ETH is now forming a potential big inverse head and shoulders pattern, marked by orange arcs. For the bulls to take full control, we need a momentum candle close above the gray neckline which covers the entire pattern/structure. Meanwhile, until the bulls take full control , the bears can still kick in to form an over-extended right shoulder. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:ETHUSD
by TheSignalyst
23
Bitcoin Rejects Higher LevelsBitcoin made a run for higher levels, breaking through resistance at $45K, but topping out at $45.6K, exactly as we predicted here. It seems that inflation data and increased Fed rate hike expectations have taken their toll on crypto. We appear to be maintaining the $40K's for now, but have retraced sharply to $43.1K. This level has held strong in the past, but if not, then we have a vacuum zone to two strong levels in the $41K's. If bull momentum returns, we have several levels in the $45K-$46K range that should slow us down, but if not, the next target is $47.4K.
BITSTAMP:BTCUSD
by quantguy
1
BTCUSD - Is Bitcoin a haven from inflation?Before the technical analysis, it is worth noting that the US inflation data was released today, which was worse than expected, which caused an immediate fall of BTC, as well as many other assets, so it is worth considering that we can expect more volatility in the near future. Funding is neutral and the fear/greed index is also back to neutral values. Analysis description Timeframe 1H After breaking through the uptrend channel, price collected liquidity in the yellow zone in the $41,000 to $42,200 price range. It then tested the $45,000 resistance level and corrected to the 0.618 Fibonacci level where it formed an uptrend and an uptrend triangle pattern. The price is currently trading in the red resistance zone. Rally and enter the resistance zone on higher volumes. The 50 and 100 MAs have been tested as support. Timeframe 4H Long lower shadows, rising price and rising volumes show the current strength of the buyers. Stochastic RSI is out of the oversold zone. Forecast I consider LONG after a correction from current levels to $44.300. I expect a decrease in volatility, further trading along with liquidity gathering inside the ascending triangle from the trend line to the lower boundary of the red zone. I see the first target as $46,000 level, where there is a big wall to sell. The second and third targets could be $47,000 and $50,000.
COINBASE:BTCUSDLong
by Akaguma7
Bull Wedge in Bitcoin 📈🚀Bitcoin has made another run for relative highs, with $45K still an upper bound but providing strong resistance as confirmed by several red triangles on the KRI. We do appear to be forming a bull wedge pattern with $45K as the upper bound. The Kovach OBV has completely leveled off with the ranging. This suggests that we may range further, but if momentum builds, then we can anticipate a breakout to higher levels. We should see some resistance in the $45K-$46K range, but $47.4K is our next target if we are able to break through. We should see support from $43.1K or $41.9K in the event of a retracement.
BITSTAMP:BTCUSDLong
by quantguy
IOTA - Potential Bullish Reversal!IOTA is approaching a strong support so we will be looking for buy setups. on DAILY: IOTA is forming a symmetrical triangle in brown but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, IOTA would be overall bearish can still trade lower till the green support zone where we will be looking for new buy setups to form. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
20
Why We Should Be Wary of the Bitcoin RallyBitcoin has retraced from highs at our target of $45K. Exactly as we anticipated in the reports yesterday, we are finding support in the $43K handle, with two strong levels at $43.1K and $43.8K. The Kovach OBV has dropped off, and was not too strong too begin with, signalling skepticism in this rally. We are still not convinced Bitcoin can hold these levels, and if not, then we should see further support in the $41K's then again at $40K. If we are wrong and we see another leg to this rally, then we must first solidly break $45K before establishing value at higher levels. We will see strong resistance just above our target at $45K, but if we can break through that, the next target is $47.4K.
BITSTAMP:BTCUSDShort
by quantguy
The Truth About the Bitcoin RallyBitcoin has pushed through resistance in the 43K's to hit our target of $45K solidly reestablishing value in the $40K handle after spending quite a bit of time in the $30K handle. The Kovach OBV has turned bullish, but does not quite match the strength of this rally, and appears to be suggesting some weakness. If that is the case, then we expect support from two levels in the $43K's, then there is a vacuum zone to the $41.9K. If momentum continues, we will see resistance between $45-46K, but if we can break through this, then the next target is $47.7K.
BITSTAMP:BTCUSDLong
by quantguy
2
Bitcoin Regains the $40K's!!Bitcoin has smashed through the $30K's and reestablished the $40K handle. We saw a sharp buying spike on February 4th, which sailed through the vacuum zone and solidly broke our first psychological and technical level at $40.0K. After that, we were able to ascend further, breaking $41.6K and $41.9K, two technical levels that have provided prohibitive resistance in the past. Currently, we appear to be making another bull run, and are currently testing $43.1K. We have one more level at $43.8K to break through before we can consider the $45K's again. The Kovach OBV appears to be arching downward at this point so we are likely to retrace or range a bit beforehand. If Bitcoin does retrace, we should see support from $40K, but if not, then $38.2K is the first level in the $30K handle and will likely provide good support.
BITSTAMP:BTCUSDLong
by quantguy
ALGO - Wait For The Trigger!Hello everyone, if you like the idea, do not forget to support with a like and follow. ALGO is sitting around a strong support in green so we will be looking for buy setups. on H4: ALGO formed an ascending triangle in orange but it is not ready to go yet. Before we buy, we want the bulls to take over. Trigger => Waiting for a momentum candle close above the gray area to buy. Meanwhile, until the buy is activated, ALGO would be overall bearish and still dive inside the support zone. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ALGOUSDLong
by TheSignalyst
45
When will Bitcoin Break Out??Bitcoin is oscillating in the value area in the mid $30K handle. We are range-bound between $36.7K and $38.2K, currently making a run for the upper bound of this range, where a red triangle on the KRI is confirming resistance. The Kovach OBV is sloping downward, so we don't have much hope that BTC will be able to break out of this range right now, but if so, there is a vacuum zone above then $40K is our next target. Beware of the vacuum zone below $36.7K to $34.9K.
BITSTAMP:BTCUSD
by quantguy
FTM - Purple War Zone!Hello everyone, if you like the idea, do not forget to support with a like and follow. FTM is overall bullish trading inside our brown trendlines and now approaching the lower bound / trendline. Moreover, the area 1.8-2.0 is a "Resistance turned into Support". So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in green and lower brown trendline. As per my trading style: As FTM approaches the highlighted purple circle (area) I will be looking for possible buy setups (like a double bottom, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
21