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Horizontalresistance

Will VETUSDT close the week above key level again?Has been ranging for the past 2 weeks but last week closed above 0.0265 (barely) which I think is a key historical level (former highest weekly close for $VET). Market traded back below this level this week which indicated a possible false break but it seems the bulls may yet save the week for VeChain and, with just a couple of hours till weekly close, we may see the price close above 0.0265 again for the second consecutive week. I do believe this is significant. And it's even better if we close this week above last week's closing price (0.0271). Note, however, that the market is in a trading range right now so we are not out of the woods yet until we see that follow through buying to get us out of this 2-week price range. But closing the week above 0.0265 again definitely improves the odds toward that end.
Long
by thedailychartist
📖 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
USD/JPY POTENTIAL LONG Slowly getting better at trading as I'm slowly learning one day would like to peruse it full time. One of the most hungriest traders out there wanting to get better everyday. Don't shout at me lol if you disagree but i thought this might be a little idea to share we shall see. I'm expecting it to break the resistance line soon and once that happens I will wait for the retest. If the retest goes to plan then I will shoot long and collect my profits hopefully. Remember guys always take trades with good risk management and the sky is your limit. If you have constructive criticism please feel free
Long
by CuLLuM315
3
INTU STRUCTURE KEY LEVEL ANALYSIS| SHORT BIASINTU chart has reached a key structure zone on the daily chart. It was climbing in the uptrend since the selloff and did more than 50% retracement. I am bearish for the following reasons: 1- high S&P500 correlation. All major stocks are now trading more or less with the market, and I am bearish on SPY on the fundamental basis. 2-The structure level is strong and pronounced. I bet the longs that were there from the bottom/that are left will start closing should the stock break the uptrend support, which I think will happen. The short sellers are already here. And yes yes, I know, don't trade against the FED, and that is true, but the market is too high anyway. 3-the reasonable continuation of the wave behavior pattern. That is it for now. Subscribe for updates and more analysis! Like, to help the idea get to the top and support the channel. Wish you all luck in your trading.
NASDAQ:INTUShort
by ProSignalsFx
2
BTCUSD still gravitating around $7,000. What it's really up to ?Hi guys, Happy Easter Holidays to my Orthodox friends in Eastern Europe. It is of huge importance to spend more time with our families these days and try to forget at least for a few days about all the negativity that surrounds us recently. Going back to the charts, let's have one last look at BTC this week. Yesterday we avoided going down to the mid-$6k zone, which was in contrast with our prediction from Monday and Wednesday, but that's okay as I'm still not fully convinced we are out of the woods. Bulls successfully rebounded from $6,600 even though the price of the leading cryptocurrency fell below $6,500 during intraday. The BTC/USD pair added 7.8 percent to its value and moved up to $7,125 at the end of the session - above both the upper end of the S/R zone at $6,900-$7,000 and the 50-day EMA. So, Phase 1 is still in play. Buyers will have to make sure bitcoin closes today above the mentioned average line and which is more important - above $7,100 as this will allow it to break out of the short-term downtrend it is in since April 8. The next goal naturally is $7.700. Bears, on the other hand, simply need to defend the downward movement and the direction towards $6,400. The RSI index, which as you know indicates the strength of the current movement or momentum if you want, is at the point of reaching the breakpoint of the line coming down from February, so a solid green candle on the daily chart today will surely see it break, entering buy zone. 24-h trading volumes climbed up to $44-$45 billion on Thursday and early Friday after trading in the good old $32-$33 billion zone the previous two days. On the 1-h chart, we can clearly see BTC is in a sideways consolidation since yesterday evening. We can even call this a bullish rectangle with a little more imagination lol to a make a small bull case here. On the bear side of things its clear we are in the downswing. I just made simple chart setups from what I see on the graph and share them. I don't try to imagine things or draw the lines to suit my vision or my expectations. I try to be coldblooded when it comes to trading. I learnt this the hard way and now I'm not putting emotions into it. Cheers,
BITSTAMP:BTCUSD
by FutureBlockchain
Are trendlines mostly a creative waste of time ... or useful?Here's my trading opinion du jour: Trendlines tend to break and when they do, they get ever so conveniently re-drawn by the chartist. Hey if they don't put the Art in chart then who does? I've learned a lot this past year, re: trendlines. Basically, they're a massive waste of your time. Just like most patterns. Not that they don't exist. Just that you can create them any way and anywhere you want, practically. Which kind of makes most of them have little to no insightful value about where price action may or may not go. And the trendlines and patterns that seem to really actually possibly matter, generally seem to line up with the big Fib and/or S&R lines. Especially when it comes to trading bitcornz and other cryptocurrencies. In other words, trendlines and patterns are probably best suited ... for memes and other humor and cultural color commentary. What seems to work, is the "boring", tried and true method of trading according to simple support & resistance levels, powered by various critical indicators that generally every trader should know if they've studied and learned any good technical analysis course. Happy Trading!
BYBIT:BTCUSD.P
by stepstones
BTCUSD breaking up from current bull pennant?If we break out bullishly here, it looks very bullish indeed, we have a couple horizontal resistances to overcome the current one at 9595, and the grey horizontal a few pips above that...the projected breakout target also requires we break above this turquoise horizontal as well and if we were to do that that would be a HUGE bullish sign BTCUSD will have achieved the ever important higher high...I anticipate it will at least rise up to meet this horizontal if it breaks out here if it doesn't reach the entire bull target....I also expect a correction afterwards to create a handle on what will then be a freshly formed cup...if it does this that cup and handle once broken can take us above 14k but I anticipate the handle will dip down far enough to fill the gap around 8.5k before heading back up to the rim of the cup. 1st and foremost however we need to breakthrough the current strong resistance of 9595 to be confident we are going to see a bullish breakout here.
BITSTAMP:BTCUSDLong
by DrDovetail