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[BTC/USD] The Road To Reaching $20,000+! - By Trading-GuruHi everyone, in this detailed technical analysis I will walk you through the most important technicals on BTC/USD at the moment. Most importantly, I will discuss the parabola that has predicted the previous increase in price very nicely. Then, I will explain what things you need to take into account when the price reaches the horizontal resistance of the previous all time high. I always try to make the chart as self-explanatory as possible, but here is a more in-depth written explanation if you want to understand the narrative better. Parabola Here is the order of touchpoints on this parabola that with every step gave us slightly more evidence about the incoming increase in price: The first of the touchpoints on this parabola were from the 5th of September. We see that the price has hit a temporary low near the $10,000 mark after a big hit in the price coming from $12,000 The second touchpoint happened on October 8th. We can already see here that every time the price dips the bottom is a bit higher than it used to be. For the first time, you can start to see a bullish trend . From the 19th of October it becomes more evident that the price is rising, the touchpoint here was enough to let the price jump into the air. BTC is officially taking off, in just two days the price increased by 10%! Early November we see multiple interesting touchpoints. The price is still bullish but struggling. It reached around $14,000 three times in a row and it got rejected on every attempt. Then, when it hit the parabola the price jumped up again! And finally, the last recorded touchpoint. My previous idea was published around this level and we saw that this parabola holds future value as well as historic value. It beautifully responded to the parabola support, and helped us to predict another rise in price. Technical analysis becomes way more interesting if it can predict causal relationships! If the parabola holds we can expect the price to struggle around the $18,500 level for another 4 to 5 days. Then if it touches the parabola and it holds, we can expect the next jump in price. Will that be the jump to propel BTC above the previous resistance? By end November this parabola predicts a price of over $20,000 for BTC! Bringing it close to the resistance of the all-time-high. The resistance itself has many ways to trade it. To decide on the exact level of the resistance I looked at the all time high. The highest level that BTC/USD ever traded on on Bitstamp was around $19660. We obviously expect resistance around this level. Horizontal Resistance Level of the ATH Be mindful of the consequences of this level beyond technical analysis. If the all-time high breaks, we can expect a lot of external consequences as well. For instance, more news articles will be published about the breaking of the previous all time high. Subsequently, we can expect more attention drawn to bitcoin, increasing the demand while keeping the supply stable. This creates a second influx of demand that can be great for the price. Expect that if BTC breaks above $20,000 we will see an immediate secondary response of another easy +10% gain. The parabola support has been very interesting recently. Perhaps we need to start considering adding an alert for it on 100eyes too. Now that you understand all the possible consequences in depth it's time to start placing your orders. Best of luck in your trading! Follow me for consistent high-quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru
BITSTAMP:BTCUSDLong
by Trading-Guru
17
📖 How to trade horizontal levelsHello! If you like this analysis, please make sure to like the post! Today we are going to focus on horizontal levels (HL). ➖HLs and other instruments are based on MA, they are used only for determining support and resistance levelling. They are plotted depending on where the price movement stopped, where the price made its important high/low/close. Higher timeframes are used to find horizontal levels and lower timeframes are used for more accurate measurements. Monitoring the weekly level of graphs throughout a working out day, 3D or 4H is called “synchronization”. 🧐You should determine the horizontal level using at least two points, since the consistency and reaction of the price should be checked. You should note that the usual “the more price rebounds from the level, the stronger it is” rule is not working in this case. Actually it works in the opposite way, as the number of attempts increases the higher the probability of breaking the level. 💡 For example, now it is very important for bitcoin to have a level of $10,000, which was formed in May 2018. It held the price several times throughout several months, but in the end it was broken upwards. Now it is the most powerful psychological support for most of the traders. ❗️ There is another advantage of horizontal levels — the longer the level holds the price, after breaking it, it will work in the opposite direction either as support or resistance. 👉HLs are important psychological markers to which price is returning to for testing. While reaching the level, the price movement may slow down, as many traders are fixing their positions close to it. 👉In general, there are a few HL trading strategies. You should always remember that a strong tool such as TA is just a guideline. You have to see the correct price reaction, and simply buying or selling depending on the level without any confirmations — is just a lottery. 📌By saying the correct reaction, we mean that there is a trade above or below the level, as well as strong candlestick patterns. By the way, a combination of HL and trend. Lines can form patterns, like triangles...
COINBASE:BTCUSDEducation
by I.T.Analytics
5
TSLA - Time to nibble!Plunged 26% in just 2 days (due to overall market sell off due to an extremely overbought situation). With strong supports (both horizontal and 61.8% fib) at 359-360, TSLA fell to 372 (just $12 shy) before staging a rebound. Time to nibble on the way back up! With initial SL @ 355 but safe to start trailing stops up as it goes higher by next week. p/s decision is made in view of overall market situation with S&P and NQ bouncing off rather significant supports Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
NASDAQ:TSLALong
by Juliac
8
ETSY - Nearing Supports!With confluence of supports (trendline, horizontal and fibonacci retracement) between 114-115 and a bullish divergence forming. it looks ripe to long for a rebound soon with initial stop @ 13.80. If trade goes our way I would trail stops up and look to scale out around 140, 148 and 156 Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
NASDAQ:ETSYLong
by Juliac
GOLD: Most Important Levels - Prepare the week with Trading-GuruIn this technical analysis I will go into depth on gold and explain how to trade an asset closely after it has reached its All-Time-High. Using the chart I will explain you about all the horizontal levels you should add to your chart and explain more about how to trade gold right now. Gold has been in a tremendous uptrend not only recently, but over the last years. As an asset that almost exclusively goes up, we have some things we need to keep into consideration as traders. First of all, we need to make sure that if we take a short position you don't hold it for too long. Ultimately time will be against you. Use it for hours or maximum a few days to speculate on price drops. Second of all, when entering gold (XAU/USD) with a long position the most important part is finding a good entry. It's easy to FOMO inside any pair when it's going up and up and up. Don't do this. Try to stick to the age old principle of buying low and selling high. Wait for a moment where the price retraces slightly, such as ... right now! The price is a good 8% under the ATH which gives us some more room to trade. In this chart I highlight two opportunities. A 4.6% trade opportunity towards the nearest resistance zone and an 8% opportunity towards the second level. For both of these, a good entry is crucial. Such entry can be found near the first level of support. The second level of support can be utilized for a stoploss or a more conservative entry if you're looking for higher risk-reward trades. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
OANDA:XAUUSDLong
by Trading-Guru
13