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Lowerhighs

BTC Update! Bears set their lower high and follow through!Last chart we were watching to see if the bull push up to $3658 would be it for upward movement. As described last chart, bears would be perfectly comfortable on daily chart with that being the lower high to then give them the momentum to seek a lower low with bulls desperately needing to hold $3425 support. Bulls caved yet again and bears dropped price back down. $3338 is currently that bottom and below that continues to remain $3129 from back in mid December. Thus far the bulls have not given this up which is fairly impressive as bears have been under minimal pressure the last several weeks. $3440 is a small resistance so marked it here but really watching $3658 and then $3766 again. If bulls fail to get back above $3658, its just the same exact pattern over again. More lower highs and the bulls trying to defend against short term lower lows. Problem is these short term lower lows continue to come in and creep up on our December low of $3129. There is only so much breathing room left for the bulls which again continues to make me very cautious. EMAs are back to serving as resistance so another area to keep a close watch on. Many alt coins are trending back lower as well and overall market is just boring. Less and less interest in the space lately but anyone seeking for a bull run should keep alerts on as these markets will bore you to death if needed before turning back up. I'll continue to set my alerts as we slowly trend lower, patiently wait and just be ready. Not much else you can do if you aren't shorting the market. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
Oh How History Rhymes... But So Quickly?I use historical analysis, not to base my decisions, but to see the options laid out on the table. The market is the magician; if you watch the trick unfold before your eyes - before you know it - you missed the slight of hand. FYI, I believe crypto will play a huge roll in our daily lives and I am long term bullish. I make calls with big play(er)s. There is no shortcut. Trade the chart and do not try to outsmart the market. I'm posting, simply to see if there is value to gain a following or not. We'll see... but might be my one and only post. Those who have eyes should open them. 1. Fundamental Analysis: Crypto is pathetically hanging on with a prayer, in hopes of EFT or SEC approvals, flood of bullish news, and institutional money… literally the exact opposite of why crypto should grow. Most retail traders are bullish “HODL till I die”… Huge red flags. 2. Technical Analysis: The trend is your friend and the stock market is in full bull mode with no sign of reversal. Yet Crypto is in full bear mode with no sign of reversal. Crypto is not the exception to the rule and needs a correction before it can head back up to breaking "All Time High". What Do I See? Two large bear flags in a row (orange rectangles) Low volume, and lower volatility Bollinger is making a final squeeze at the end of each triangle with the basis (median) pointing up shorts vs longs repeating Bart formations = squeezing w/o volume Overall sideways for 1.5 months (green box) We have broken down on the (bearish pink) triangle Purple grind line at the end of each triangle (currently forming) Bulls have much resistance to break through. Bears can just wait it out... I suspect we will make a wick to $6025 within a few days, then watch for the drop to ~$5900 = bubble has blown = lower lows/lower highs for a bit till we find a NEW bottom. COINBASE:BTCUSD Alan Greenspan - You can spot a bubble. They're obvious in every respect. But it is impossible for the majority of participants in the market to call the date when it blows. Every bubble by definition deflates. But when that deflation occurs, it requires a point at which the vast majority of market participants do not expect it to happen. Almost everybody is bullish, expects the market to go up, and is fully committed. At that point if you took a survey of what the outlook was, you'd get an overwhelming positive response the day before it falls on its face. -racethehair
COINBASE:BTCUSDShort
by racethehare
BTC Update! Consolidation beginning? Sorry for no chart updates over weekend but not a whole lot going on anyways in the charts. Last chart, we had hit $6738 and I was looking for the bulls to be topping out soon after that. Bulls got up to $6823 before beginning to consolidate here. 4 Hour chart began forming lower highs and lower lows and has now broken below EMA support. Daily chart is holding right at EMA support as well as 50 Day MA. Daily has plenty of breathing room as it is looking to form a higher low compared to $6106 but obviously the higher, the better, as then the bulls would be looking for a higher high compared to $6823. 4 Hour chart, would ideally like to see the bulls hold $6337 and perhaps set this consolidation low down around $6400-6500. Personally have been back to cash since Friday and will await the next trade setup. Weekly remains well within our equilibrium. Too early to call $6823 as the lower high there in my opinion but very well could be. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
ETHUSD: Bears In Control. Watching 544 Area For Next Support.ETHUSD update: Price has taken out the reversal zone boundary at 614 and has gone as low as the 544 support zone. At this time, there is no swing trade setup present which makes short term decision making simple. As mentioned in other recent articles, environments like this call for the position trade mentality. A setup is a formation, and a pin bar is what provides the confirmation and trigger for entry. A pin bar alone is not a setup, even if it occurs at an attractive level. Candlestick patterns appear randomly throughout a chart. What gives a candlestick any value is the location of where it is appearing and that is where predetermined levels come in. Reversal zone boundaries are levels that define an area where the probability of reversal is greatest. If price goes above or below these zones, and never reversed, it means stand aside and let the momentum play out until price finds the next level. This is what happened at the 614 level. Price did not even hesitate until it found buyers at the 544 to 464 support zone (.618 of recent bullish structure). The pin bar tells us that buyers are interested here but there is no formation which means the criteria for a long is not present. Especially now that the pin bar has been established and price gave it back relatively quickly is a sign that bearish momentum is likely to continue which means avoid any swing trade longs until stability proves itself. Environments like this are not completely void of opportunity though. In my Ethereium article on S.C. earlier today, I go on to explain more about the concept of inventory building and fishing for fear with limit orders under the market. Cost averaging in these markets is similar to stacking gold and silver coins. In summary, unless the current candle closes strong (unlikely), it is within reason to expect price to retest the 530s or possibly lower. The 544 to 464 support zone is wide and it may take some time (week or two) before this market can stabilize. This will obviously require the entire coin market to find buyers since they all pretty much move together. Do not get sucked into the pessimism which this community is up to its ears in. If you are a long term believer, then fearful markets offer wholesale price opportunities to build an inventory. Embrace the risk and think independently and do not use margin. Ask yourself this: if you bought a gold bar for $1300 and the price goes to 1K, are you going to dump it? If yes, I know someone who will buy it from you.
BITFINEX:ETHUSD
by MarcPMarkets
20
BEST MOMENTUM TRADING STRATEGYBCHUSD 15M WILLIAMS %R INDICATOR STRATEGY My 15m scalping technique - 14 length Our team at Trading Strategy Guides believes that a momentum indicator strategy can reduce risk and enhance your overall returns. One of the core market principles is that momentum precedes price so in this sense a momentum indicator strategy is more like a trend following strategy. Essentially trends tend to continue and we can use momentum to determine when to buy and when to sell. There are various explanations for why momentum occurs. The simplest explanation would be that rising prices attract buyers and falling prices attracts sellers. Using a momentum indicator strategy, it means we’re only going to hold the trade for a very short period of time, anywhere between a few minutes and up to a few days. Basically, the best momentum trading strategy runs until the momentum drys out. So, we only want to concentrate on the relative strength of any instrument. The best momentum indicator is by far the Williams %R indicator. This momentum indicator will help us identify profitable trading opportunities. Works with all market and time frames. The preferred settings for the best forex momentum indicator is 40 periods The Williams %R runs on a scale from -100 to zero. A reading in the vicinity of -100 is an indication that the instrument is oversold and it’s a potential buying opportunity and once it reaches zero, that’s an indication of overbought and maybe the time to sell. Step #1: Define the Trend. An Uptrend is defined by a Series of HH Followed by a Series of HL. The definition of an uptrend is pretty much standard. In an uptrend, we look for a series of higher highs followed by a series of higher lows. Two HH followed by at least another two HL is enough to define an uptrend. A higher high is simply a swing high point that is higher than the previous swing high. While a higher low is simply a swing low that is higher than the previous swing low. In order to gauge momentum besides reading the best momentum indicator we also look at the actual price action. Step #2: In an Uptrend Look for Bold Candlesticks that Close Near the Higher End of the Candlestick. A common concept in technical analysis is that you want to use multiple confirmation signs when buying and selling. This will increase the likelihood that’s a high probability trading setup. In this regard, the momentum trading strategy besides using the best momentum indicator also incorporates the price action. A practical way to read momentum from a price chart is to simply look at the candlestick length. What we want to see in an uptrend is big, bold bullish candlesticks that close near the higher end of the candlestick. Step #3: Wait for the best Forex Momentum Indicator to get oversold (below -80) and then rallies above the -50 level before Buying In an uptrend, we buy after the best momentum indicator has reached oversold conditions (below -80) and then rallied back above the -50 level. Now, we have confirmation from both the price and the best momentum indicator that real momentum is behind this trend and the probabilities are in favor of more upside prices from here on. Note* If the best momentum indicator continually stays in overbought territory (above -20 level) it signals a strong momentum and conversely a strong trend. Inversely the same is true in a downtrend. Step #4: Place Your Protective Stop Loss below the Recent Higher Low We want to hide our protective stop loss below the most recent higher low level that formed right before the best momentum trading strategy issue the buy signal. Alternatively, you can also trail your stop loss below each most recent higher low. This strategy will allow you to lock-in the potential profits in case of a sudden market reversal. Step #5: Take Profit once we break below the Previous Higher Low Alternatively, you can take profit once the best momentum indicator breaks below the -50 level.
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by Tradingstrategyguides
1
XRPUSD 2H Lower Highs Lower LowsPair has failed to make a new swing high Price is making lower highs lower lows Price can bounce bullish off 50 sma or break below it Price can consolidate between 50 and 100 sma As price falls from 50 to 100 sma it can go half way and return back to 50 sma If that happens price can move above 50 sma and rise to swing high target Or price can bounce short off 50 sma and fall to 100 sma If price breaks below 100 sma it may fall to swing low target Watch Macd in relation to Macd red line, 0 level line, Stoch blue dotted lines
BITFINEX:XRPUSD
by Tradingstrategyguides
Litecoin Short Term TA Day 10Over the weekend, we still were not able to get past 172 which I believe is a huge point of resistance for litecoin. The closest we got was around $169.20. I currently have that as our main short term resistance, but we will need to break one of our trend lines which is around $164-166. I was happy to see us bounce off our support though at $141.20. I had this labeled as one of our supports in my day 8/9 TA and I'm going to keep it as our main support for now. I believe we will be moving sideways for the time being. We could be in the process of forming a new lower high's pattern short term (First high being 169.20, next one 162.30). To confirm this, we will need to dip a little bit lower, in which it could reach somewhere in the mid to upper 140's. I will keep and eye on LTC / BTC throughout the day and update this TA if needed. Follow me if you would like to stay up to date with my daily TA's of LTC.
BITFINEX:LTCUSD
by whatsinthecupsir
LTC - Watch for a Market TrapMarket has a double top on Day chart, divergence on a 4H and lower highs on a 1H. Will it reverse or is a bear trap snapping it's jaws shut. DEFINITION of 'Bear Trap' A false signal indicating that a upward trend in a market has reversed and is heading downwards when, in fact, the security will continue to incline. BREAKING DOWN 'Bear Trap' A bear trap often causes some investors to sell a market, but because the market continues to incline after the initial signal, those who bought in are "trapped" in a bad investment.
BITSTAMP:LTCUSD
by Tradingstrategyguides
4