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BTCUSD 3RD BEAR FLAG OF 2022?BTCUSD Daily TF Interested to see if this bear flag pattern plays out again this year. As a precaution, I've exited most positions with the anticipation of the internal support failing which could see a selloff back to the lower band of the ascending channel which is building up a pretty nice bear flag. I think that if this moves it'll be quick, very similar high-volume moves were made on 01/06 & 06/04. If I am correct and the current bear flag pattern completes then my first target would be 16k (internal measured move) which aligns pretty well with former validated support from NOV2020 and also has acted as a resistance level in the 2017 Bullrun after the top was put in. The final flagpole target puts the price back at 5k (which is ludicrous IMO) but we can never say never, especially in this current financial climate.... Keep a close eye on RSI and the current uptrend it is in, if it fails to swing high and cracks the uptrend it will most likely retest the 50.00 midway mark. If that fails then it's game on for the bears for an unknown amount of time. As always keep your RISK MANAGEMENT and POSITION SIZE in the forefront of your mind in the current climate and also your BIAS. Do I think this pattern will complete? potentially.. Would I be angry if it did? Nope (good op to potentially accumulate if possible).. Would I be angry if it doesn't? Nope (I managed my risk and kept my current capital) "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
BITSTAMP:BTCUSDShort
by Trader_Johnni
1
Gold 4H AnalyzeHi friends. we are in a range area between two divergent lines that i show on my chart. if we break this pattern down we see lower levels 1723 and if we loss this level too we see 1690. but if this pattern breakout up this means maybe we have a Retest to 1785 level and after that maybe again falling. this levels that i illustrate have an overlap with upper and lower bands of Donchian channel so they are very important levels. so we can wait till this pattern ends and price direction appear.
TVC:GOLD
by TraderAmin-KZ
BTC Go Ahead 26000 Resistancehello my friends. i think we broke a pattern last day and now we can retest it (and also 200 day MA). our Money Flow Index approch to overbought area and according to our trend (Bearish) we can go down after touch this strong support level. be careful friends we are in a contraction condition yet. inflation grows and today we saw the news about TESLA that sold about 75% of its BTCs. this news can affect markets for short term but in longterm no problem! :))) take care of yourself and your money. manage your risks. the first step is protect our capital and the next step is profits. hope you all have good trades. thank you all for reading my opinion. please share me your opinion in comments. !!!NOTE!!! MY POSTS ARE NOT TRADING AND INVESTING ADVISE SO TRADE ON YOUR OWN STRATEGY AND CONSIDER MARKET RISKS.
BLong
by TraderAmin-KZ
SPX500 - Last leg of the corrective rally?OANDA:SPX500USD has started the last leg higher with yesterdays rally confirming it. This is looking like its going to get up to these levels and an ideal scenario would be into next weeks US Interest Rate decision where we see the market start its next leg down. Beyond 4100 and the correction could be over or a higher correction. For now on the Intra-Day im looking for a PB to the 382-50% ret area to get long in aABCD pattern would be ideal. Thoughts for now. Enjoy the day
FOREXCOM:SPX500Long
by L_F
ENSUSDTHi, I hope the coming week will be a profitable week (: The price is moving inside a descending channel. If we ignore the triangle pattern, considering the yellow range and the type of previous movement (inability to enter the $10.817 range), we should have a reaction to the $9.733 range. I prefer to close 75% of my sell trade at the $7.364 price range, but I can't ignore the triangle target, so that leaves 25% for that range. Be sure to share your comments with us
Short
by FiboTech
4
BTC PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The total evaluation for the BTC chart is bearish. Please be reminded that the price movement displayed is evidence of a previous cycle from where we got rejected at 30-32k range, you may use that as a reference on a separate browser while comparing the two. Before listing my reasoning for the bearish price action, here are the possible edges that you may use as valid factors for maintaining your shorts: The impending doom for the overpriced housing market and its highly potential crash The Pandemic that has still caused multiple variant to remain challenging since 2020 and has not been given an epidemic-endemic status. The Russian-Ukraine War that has yet to be resolved and would likely not be in the longer term until Putin's goal is accomplished. The consistent strength of monthly negative Consumer Price Index reports showing increasing amount of inflation. Increasing amount of Rate Hikes by the FED to challenge inflation (Possible 100 Point Rate Hike) ------------------------------------------------------- Now that the macro-economic factors are listed, let me explain to you the price action shown above. A descending triangle is formed in any timeframe specifically and advisably in the 1H-4H timeframe and the 12H-1D timeframe, such pattern is usually a slow consolidation to the downside with a potential breakout to the upside at its latter. This is confirmed pattern to be used due to the "WEAKNESS" displayed every time we are nearly approaching the 22-23k$ region. The price level was rejected previously on June 16 followed by a daily candle rejection on June 21 and as of today's price reading June 26, the price is displaying significant amount of indecision and lack of volume which is manifested into a "Doji". The red daily candle doji is displayed slightly below the highest peak of yesterday's price action which was at 21,599$ instead of closing higher to confirm a bullish bias. A weakness on the trend due to indecision is a warning sign for a potential sell-off back to the previous support of 20,700 to a potential temporary bottom of 20,000$, after that it is followed by another re-test of up to a maximum of 21,200$ being confirmed as resistance (TRIPLE TOP) and sending it down in a staircase-like manner to a maximum temporary bottom of 19,600$ which will serve as support similar to the 29k region. After that, it will now enter a consolidation pattern from 19,600 to 20,800$ for a while until it breaks out to the upside to validate the descending triangle. The breakout to the upside will ultimately be a disbelief rally, a showcase of a desperate attempt to get out of the bearish bias which is also what we call a manipulation wick by market makers to grab liquidity out of a tight consolidation. It will most likely break tremendously beyond the 21,600$ (which was the the price for a double top) and reach a maximum of 23,800$ but not more than 24,600$, anything beyond 24k is a definite short given the fact that there are no positive fundamentals behind the pump (e.g. Lowered Inflation, Lowering Rate Hikes, Pandemic to Epidemic Status, War stopped, etc.) The manipulation pump wick will most likely bottom out the same price at which it pumped from for days and it will be on a stair-case pattern building market structure to the downside which will give time for moving averages on the daily timeframe to cross over at its end confirming a breakdown towards the previous support (17,000-18,000$). ------------------------------------------------------- F A Q S Question 1: What are the possible invalidation points? Answer: A descending triangle pattern is completely invalidated if we get a volume pump up until 24k which is a temporary short level and will most likely use 22k as brand new support for further legs to the upside. This completely validates, on the other hand, the Reverse HnS. Question 2: Are dojis entirely reliable? Answer: They do not indicate a definite move, but they help shape your decision on the gravity of the trend especially if it has been previously rejected in daily timeframes. In this case, it shows weakness potentially decreasing chances a further bullish move since it is not supported by a decent amount of volume. Remember that even if it goes up to 22k, it doesn't confirm anything until it hits 23,200$ or 24,000$. It will most likely just warrant itself a HnS pattern or a quick liquidity grab of stop losses above 22k but not more than 23k. Question 3: Do you use any other indicators to help confirm this pattern? Answer: Definitely. I use the Relative Strength Index, Volume Profile, Bollinger Bands, and the MACD. In the RSI, we are definitely oversold in the macro timeframe but this is often a lagging indicator and does not constitute ripples from minor timeframe that could escalate its way up to the larger timeframes. In higher TFs (at least 4H), we do not see any strong momentum on the bullish bias, it is just in the middle of the index indicating neutral pace. The MACD on the 8 hour, 12 hour and daily timeframe are unreliable as they are lagging significantly, ,the 4H timeframe shows a HnS on the buying pressure which ultimately favors the bears in the end. Question 4: Do you use leverage or margin trading? Answer: I do not margin trade, but I do futures trading and the way I use it is not based on a tight percentage ratio of risk-reward as I find it to be completely strict and not versatile enough to include other trading techniques such as hedging and would most likely cut off your potential profits or stop losses earlier. The true key for using leverage is to find moves with confirmation that there is a high possibility of you winning that trade with reference to past previous price actions, taking account fundamentals to inform your decisions and as well as ACCEPTING mentally and emotionally that you are risking this certain amount of money to get stopped at a reasonable level (trend turnovers) if in any case you are wrong. I abhor revenge trading. Thank you for reading and I hope you get a good short trade on this. If you do end up profitable on this move, do not forget to like, comment about your experiences and share to your friends! -Wamses
COINBASE:BTCUSDShort
by Wamses
2
ETH PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The current evaluation for the ETH asset is bullish. Please be reminded that such evaluation is only from respected market structure and price action with previous references to supply and demand zones. The overall trend is still bearish, but there are several reasons for the bullish move that can be confirmed. Below are the reasons for this confirmation to the upside: ----------------------- BULLISH INDICATORS Falling Wedge Breakout Pattern Macro Rising Wedge Formation (Bullish Short Term, Bearish Long Term) Smart Money Futures are Bullish 4H Chart Timeframe reaches overbought region in the Relative Strength Index, there is a huge chance that the next indication of overbought levels will form a bearish divergence however this will be in a higher high price action. Daily Chart Timeframe is now forming a bullish divergence in the Relative Strength Index (this will fuel to 23k-25k easily if accompanied by neutral to bullish bias until the next CPI report/FED meeting this month). Decent Volume ----------------------- BEARISH INDICATORS Overbought Levels in the Relative Strength Index Forming Rising Wedge (not complete) DXY bullish If you liked the information above, please do not forget to share, like and comment. Thank you! -Wamses
Long
by Wamses
BTC PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The current evaluation for the BTC asset is bullish. Please be reminded that such evaluations are only derived from market structure and price action with respect to previous support & demand levels as well as fundamentals. Below are the several key points to which I am convinced we are in a bullish rising wedge formation in the process of an eventual breakdown: -------------------------- b]Bullish Indications Descending Triangle Breakout or should be much more extended for a much larger timeframe. Falling Wedge Pattern Breakout which is the target is on the previous rejection level 22,000$ Bullish Divergence on the Daily RSI Overbought Levels in the 1H-4H timeframe which would indicate that the next wick of overbought levels should be in a form of a bearish divergence, but higher high in price action. In anticipation for the FED meeting and CPI report release this month, the prices will more likely be bullish up until to that point where we could see a potential breakdown. Neutral PCE Report Failure to break 18,600$ forming a double bottom formation on the higher-high from 17,600$. Smart Money Futures are bullish. -------------------------- Bearish Indicators Adjusted or Extended Macro-Descending Triangle (will be completely invalidated once we visit 24k) Formation of a Macro-Rising Wedge (still in the process) Overall Downtrend both Smart Money Markets and Crypto Potential High Inflation Report from CPI and increased rate-hike response from FED Exchanges such as Celsius, Voyager and Vauld halting withdrawals, deposits, etc. If you like the information above, please do not forget to like, share and comment! -Wamses
FTX:BTCPERPLong
by Wamses