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LTC/USD RANGEBOUND! POSSIBLE WYCKOFF REACCUMULATION!Hello my beauties. Litecoin has just entered a nice range, and for those of you who like trading them, long at support and short at resistance. I will take a position if I see a nice reaction from the bottom, and possibly trade a breakout. My analysis is based on Wyckoff events, and this ticks all the boxes of an early re-accumulation phase. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
BITFINEX:LTCUSDLong
by TrickleDownFX
EUR/USD RANGEBOUND, MEDIUM TERM LONG SETUP!Hello my beauties. EUR/USD has been range-bound for over half a year. You can see the support and resistance in red. For those of you who like trading ranges, this is an opportunity. I believe that after it exceeded its lower support, euro could break out of the range. On top of that, it generated an over-extended double bottom (currently retesting neckline, 0.5 fibonacci). I will be looking into longing if I see a nice reaction from the area in green. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
Long
by TrickleDownFX
MITH/USDT - small cap - big potentialMITH/USDT recently caught my attention as I was looking for smallcaps with decent chart setups and fundamentals that align with potential breakout zones. With a marketcap of only 80 million right now there's great potential for multiplying your money once it takes off because not a lot of money is needed to move the market and that is also what makes this a high risk - high reward trade, only invest what you can afford to lose and are willing to keep locked in the coin for a while. Circulating supply and max supply is both 1 billion so you don't have to worry about sudden watering down of the supply or increase of marketcap without moving the price. Right now we can see MITH sitting right on uptrend support of a big symmetrical triangle on the 4hr chart and also on support from the prior bottom which makes this area a good buy zone in my opinion but we also have to be careful about BTC potentially screwing with those plans which is why I'd recommend to slowly accumulate over time. MITH recently merged with Corra.Finance to implement Defi and NFT's for MITH which in the current market may cause a big push and spark in interest for MITH. Corra.Finance will go live today and the IDO for it will be on the 15th of May. These dates coincide well with the chart setup and make me very bullish on the future of the project. If you do not want to risk potentially getting stuck in a slow bleed and don't have the patience for a medium / longer term trade you could wait for a breakout first but in this case that would mean buying 50% higher. No stop loss on this one for me personally due to very thin order books, too much risk of getting stopped out by a wick and then also massive slippage on top of that. Sometimes we also see patterns like this drop down first and breaking out with a slight delay so if anything I'll be adding more if that happens, I've marked the potential re-buy zone in the chart. Best of luck and let me know what you think!
MLong
by Wolfy_
Volume Analysis Indicates no Imminent Springing PotentialLots of Support and Dermand analysts are betting on the 48K region to spring BTC back to bullishness, but they are missing the forest for the trees. Here, I present the volume profiles of the upside parts of the latest massive bull of this year. As we can see, apart from the last ditch of an effort in the past couple of weeks, all bulls were backed by strong volumes early on. This indicates massive trust in BTC as a storage of value, but it also leaves it vulnerable to pull backs without significant resistance. We are now well past the top bull of last March and the resistance now lies in the middle, which has to support level, 48K and 34K. For BTC to go up imminently, a strong sell of should act as a spring, bringing it to 34K and springing back in the short term. Looking at the recent volume levels, and due to the inherent trust in BTC, this is unlikely, even though it would be affected by the market downturn. What's more likely is a period of slow decay until it reaches around 38K somewhere in the coming 3 months, and then a build up during the flatness could push it higher.
BITSTAMP:BTCUSDShort
by MontyMacht
1
Decaying Overbuying for BTC Signals an Eventual Bearish TurnAs I expected before in a previous idea a couple of months ago, BTC and Co were heading to a flattened curve after the incredible gains and broken records in the past months. It came as no surprise to me because I am an avid follower of the 1W chart, which, for BTC, I believe is the most important one. The thing is that when gains are so high and so rapid, charts of more detailed views lose their significance. Still, the 1W chart is usually overlooked even by longtermers. So what is so significant about BTC's 1W chart? It is the range of history it shows that allows accessible comparative analysis, and that's what I am referring to in this idea. In this chart, we can see 3 spikes of growth (bullish markets), 2018, 2019, and the latest in 2021. Both of the first 2 were followed by a short bearish market, and in both, even if it's not shown in the chart, people also thought the prices would never fall, and falling they did to a certain level of support as the lowest point of the bearish market, which was always the lower Bollinger Band of the 1W chart . Looking closer at the RSI graph, we can spot the similarity between the second bullish rally and the current one: both being of the decaying type when it comes to overbuying. The first rally in 2018, on the other hand, had an oscillating period of overbuying. So what's the significance of this? To answer this question, let's check the points bellow comparing the market behavior in both cases when the prices are above the normal range of buying : * A decaying overbuy means that the momentum of buying is decreasing, even if the prices are increasing significantly. An oscillating one indicates that the momentum is steady. * Decaying overbuy indicates that the gains will fade gradually, like it did this week, after several previous corrections which were increasing in magnitude and frequency. For an oscillating one, the corrections usually come in fixed intervals and with similar magnitudes. * For an oscillating overbuy, prices can decrease abruptly when the bullish market is over. For the decaying one, the drop will probably happen after flattening out in the medium range. * Peak of volume is more or less periodic for the oscillating overbuy, usually increasing at the last breath of the bullish market. For the decaying one, the peak is long before the last breath of the bull. For the current market, the peak was in the beginning of 2021. Now that we know the difference, it is evident that the decaying overbuy is a clearer signal. Nevertheless, greed and optimism blind us from what's obvious, that is the current correction. How about the future then? In the long run, BTC will regain its value and reach more peaks until it doesn't matter anymore and the competition increases with other coins. As for the near future, I am positive that the price will go more negative, probably after flattening a bit . The thing is that the market is losing confidence in BTC as a growth asset, and it's difficult to see momentum building up in a sustainable way in the short term. This would require a fresh bullish market drive, and I am not talking here only about Crypto. For the cycle to complete, the lower band will be hit eventually, but as it stands at 20000, it is very low, so it won't happen very soon. My prediction is that it would happen when the band nears 38000.
COINBASE:BTCUSDShort
by MontyMacht
LINK/BTC - major move ahead | falling wedge close to breakoutLINK/BTC is moving closer to the tip of a big falling wedge which formed over the past two months which meant it under-performed against most bulls expectations and ranged between 26$-32$ during most of that time which made for a frustrating experience for bulls while the rest of the market boomed. Now the falling wedge is nearly completed and the closer it moves to the tip the more likely and volatile the breakout becomes. 47k / the mid-40k sats range has acted as strong support so far as it was prior resistance of the previous low which formed between December and January. We can see bullish RSI divergence on most time frames since the low on the 15th of march and if LINK manages to bounce from here it will also have formed a double bottom. There is still the possibility of it dropping down into the 44-46k sats range to test the lower trend line and 0.786 fib-level again while keeping the setup intact so if you decide to use a stop loss keep that in mind and use it as a buying opportunity. Buy zone: 44k-52k / tip of the falling wedge or re-test of the upper trend line after breakout (see chart) Targets: 62-66k / 85k, targets higher than that will have to be evaluated once there's more info on the chart and I'll post an update if that happens Fundamentally Chainlink is one of the strongest projects on the market and every solid long-term portfolio should include at least a bit of LINK in it in my opinion. Chainlink is one of the 5 new coins included in Grayscale's Trust and compared to all the other coins they added which ran up to 50-100%+ since the news hit, LINK hasn't had a proper pump yet which makes me even more bullish for the future and confident that we're currently presented with a good buying opportunity. Best of luck and let me know what you think!
Long
by Wolfy_
2
VUKE Daily - Breaking higher but testing NB lateral resistanceI started scaling back in and increasing my weighting around 29 (green box) in the hope we would get the break higher we seeing now. Yesterday we saw the VHYL ETF be the first to break higher and VUKE appears to be following suit. Red lateral resistance is quite significant and I wouldn't be too surprised to see the ETF pause a bit at this level, consolidate, before powering higher. I have been adding and trimming continuously to this position (see comments on prior chart). I am happy to take profit on 25% of my holding here (given the resistance), and will look to re-add
LSE:VUKE
by gillyblore
AMD update: potential path based on technical analysisNo death cross on the daily chart. The stock has significant support at the $73.90 level. Most recent resistance at the $87.10 level. 4H Chart Looking Bearish Short-term but on the verge of a reversal back into bullish sentiment. We'll see how this plays out with stimulus just being announced with the backdrop of a global semiconductor shortage. It could be choppy, be careful. There could be some chop while the chip shortage is resolved and the tech sell-off finishes, but this should be a good medium-term trade/investment to start building a position in. Buy under $80. Price Target $100-115 Stop Loss $70.
NASDAQ:AMDLong
by EBITDAtiger
2