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Long Term Bitcoin AnalysisLooking at the BITSTAMP:BTCUSD pair it looks like the price will continue to fall after some consolidation in the triangle. The most probable scenario (presented): The price of Bitcoin will continue its consolidation in the descending triangle. Base on the technical analysis, in most cases this is a continuation pattern and the price should break the bottom of the triangle. If this will happen the next level for BTC price will be the area of 9400-9100 which is the reference bar and the July Point of control. This will be a nice area to re-accumulate bitcoin and a potential horizontal channel. The alternative scenario: If the market will show some strong support in the region of $10200, then we may see the breakout to the upper side of the channel. This should be accompanied by the increase in volume and the re-set of RSI indicator above 50.
BITSTAMP:BTCUSDShort
by Wunderbit
8
AUD/CAD: Post-Macro News Analysis With Volume Profile 📊In today’s analysis, I am going to have a closer look at AUD/CAD. There was strong macroeconomic news released in the Asian session today. It was the AUD Cash Rate and RBA Rate Statement. Then later, there was the Annual Budget Release. All those were strong news which affected the AUD and caused the strong sell-off. When there is a new trend like we see now, I am always interested in what happened before the trend started. Volume Profile Analysis In this case, there was a rotation in which pretty heavy volumes were traded. This indicates that the big guys (big financial institutions) were entering their trading positions there. At that point, it was not clear whether those positions were Long or Short positions. Only after the strong post-macro sell-off, it became clear that the big guys were entering Shorts. This represents a nice trading opportunity. When the price makes it back into the heavy volume area, it is likely that it will work as a strong Resistance because the big guys will want to defend their Short positions. They placed most of them at 0.9530 (that’s the POC of the rotation) and this is also the place where the price is most likely to turn. Weekly POC Those big guys weren’t entering their Shorts only a few hours before the news release, but also through the whole previous week. It is nicely visible if you look at the Weekly Volume Profile. Our level at 0.9530 represents Weekly Point Of Control (POC) which is a strong level just by itself. It tells us that the heaviest volumes in the previous week were traded exactly at 0.9530. In our case, having a Weekly POC at our resistance level is a very nice confluence and confirmation. I hope you guys liked today’s analysis! Let me know what you think in the comments below. Happy trading! -Dale
by Trader_Dale
1
Low Volume + Weak Price movement = ROCKET!ETH is preparing for the move! At the current state of the asset, the price does not show any strength or weaknesses of either Bulls or Bears. The decreasing volume is suggesting that the asset is going through the accumulation phase. At the same time, the price is bouncing around the POC of the current month. Trading Plan COINBASE:ETHUSD : There are two potential scenarios that we would monitor. First of all, in the short run, the price should reach the bottom of the trading channel at around $356. This will act as a line of support, however, it is possible that we may experience the strength of the bears and If the price would manage to break below that level with good volume, then the upward move scenario is cancelled and the price will start to decrease in the attempt to form the double bottom, around the Macro Upward Trend line. If, however, the price will be able to hold the level of $356, then there is a good chance for the asset to gain in value and aim towards the level of 400$. Along with the upward movement, we should experience the first resistance level at around $366. If the price will go beyond the 400$ (with good volume), then it would aim for the golden pocket between $420-$426.
COINBASE:ETHUSD
by Wunderbit
5
NWCUSDT Daily S/R| Bullish Divergence| POC Liquidity|Swing HighEvening Traders, Today’s analysis – NWCUSDT – testing daily S/R with a valid liquidity run, swing high is the immediate target. Points to consider, - Bullish trend (consecutive higher lows) - Swing high ( trend pivot) - Daily S/R (immediate support) - Oscillators divergence - 200 MA support - POC liquidity run The immediate trend for NWCUSDT is considered bullish with consecutive higher lows. This allows us to have a bullish bias on the market. Daily S/R is the immediate support, holding this level will be critical for a higher lower projection in the market structure. The POC (Point of Control) represents a liquidity run (in the form of a wick), this is an indication of demand as price action closes back above the Daily S/R. There is a valid bullish divergence as the RSI puts in a lower low compared to a higher low on price action. Stochastics also present a buy cross as momentum keeps shifting up. Furthermore Price Action at Daily S/R has confluence with the 200 MA, due to the context of Price Action, a move bullish is plausible with a swing high being the immediate target. NWCUSDT on a fundamental scale also has a valid bullish case. Being recently audited by Vera Chain, they have accomplished a high rating of ‘A’. Areas of audit included but not limited to the following, Deep Block chain Audit, Tokenomics, Reserve Funds, Road map and so on. The full report can be found through Vera Chain. NWCUSDT has a goal of becoming the ‘Bloomberg’ of the Crypto space, definitely a use case and a niche in the market that is yet to be filled. This project greatly helps new traders that are coming into the space. The team is very dedicated and genuinely out there to make a difference in the Crypto space – again all reflected in their recent audit. Overall, in my opinion, for a TA and FA perspective, NWCUSDT is a valid long with defined risk. Price action is to be used upon management/ discretion of trade. Thank you for following my work! And remember! “Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
Long
by AzizKhanZamani
8
NEO/USDT is lloking for the reversal. ShortLooking at the number of factors BINANCE:NEOUSDT is preparing for the trend reversal and potential downward move. There is a number of reasons for this. 1) Price/Volume and Price/RSI divergence. 2) This divergence occurring next to the important resistance zone of $22.90 3) In the lower timeframe (2H) there is a "Sell Zone" between $22.5 - $22.9 Trading Plan: When the price will reach the sell zone it is important to monitor the strength of Buyers and Sellers. There is a possibility that price will spike above the $22.9 level to collect the stops of short-sellers prior to the downward move. After that, there is a good chance that the price will drop below the 22.55 mark, retest this level as resistance and will start its decline. The first take-profit target would be located in the area of $20-$21 and at this point, you can fix some position moving the stop-loss towards the break-even point. After that, If there will be no buyer on the market the price may continue its decline towards the POC of the horizontal channel. Below POC level we may see the formation of some buying strength, however, the major support area is located at around $16.7 - $15.8 Best of luck with your trading.
Short
by Wunderbit
2
XRP Weekly AnalysisXRP on the weekly chart is still in an overall downtrend but it’s showing bullish signs. Currently trading just around it’s 20ema, also it’s point of control YTD as seen on the volume profile . If we can close above this with above average volume (+104.655M), we can expect more bullish sentiment to follow. I’d be looking to see a brief some resistance around the downward trending tend line and high volume node before resistance around the 50ema Other bullish signs: XRP is forming a morning star pattern bouncing off its value area on the volume profile and an upward trending trend line . Bullish engulfing bar trading the most volume since the week of April 27th (141.894M) which was at the top of its last mini bull cycle before the last pullback which is now over if we use this weeks bullish engulfing bar as confirmation after last weeks doji . Price Volume Trend is spiking upwards. Thoughts welcome :)
KRAKEN:XRPUSDLong
by MoxieTrading
LTCBTC Sellers in control| Technical Confluences| S/R FlipEvening Traders! Today’s Technical Analysis will focus on LTCBTC which is testing a key trade location with multiple technical confluences. Points to consider, - Sellers in control - Key trade location being tested - Local support next viable target - RSI neutral - Stochastics in lower regions - Volume climax nodes LTC breached key technical structural support (now resistance) confirming that sellers have gained control. LTC is currently testing a key trade location with multiple confluences, the .50 Fibonacci, the 21 Week MA and the Point of Control. It’s viable to say that LTC is more probable to test local support due to heavy resistance; this will put in a lower high. The RSI broke out of its wedge; this was in confluence with the oversold bounce, now is currently neutral. The stochastics on the other hand is trading in the upper regions; it has lots of stored momentum to the downside. There has been a clear volume climax however with lack of bull volume follow through. This indicates absence of bull pressure, putting more emphasis on testing lower lows. Overall, in my opinion, LTC is likely to test lower regions; this is due to heavy technical confluence at the current trade location which is also in direct proportion with the bearish sentiment. What are your thoughts? Please leave a like and comment, And remember, “Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
Short
by AzizKhanZamani
2
ETH- Pullback or march toward the NEXT MAJOR RESISTANCE LVLHello everyone! BTC dominace lvl has gone down a little and, we start to see more trading volume flow into retail's favorite crypro exchange coinbase as its trading volume increased 50% recently. Retail money is what makes the uptrend move sustainable! VPVR looks bullish as the price pierced through VA and both long term and short-term POC with long term trend line acting a strong support below. However, ETH is currently facing long term fib resistance (32.8) and previous support lvl . Furthermore, many indicators indicate the overextended status ( bollinger & ichi) and oversold status hovering around 75-80 on both daily and weekly timeframe In terms of magnitude, 8 straight weekly green candles is probably overheating. Next major resistance lvl is around 360. Buy on the dip within the buyzone if the price pullbacks. Please like and follow me if you find my analysis useful. Much appreciated!
by Libratus
Increased Volume Suggests a Whale is Accumulating EnigmaAs bitcoin formed a pinbar that might and likely will lead to small pullback, it is a good opportunity to buy trade an alt against btc. Enigma is dancing close to its point of control. Even though there is a multiple rejection pattern, the increased volume suggests, it is only a big guy accumulating this coin. I am already in and I expect to collect profits on the second target or higher. I will be rating all my published analysis in 2020 transparently. This one is going to be considered successful if the price hits its second target with an ROI of 1:3.2 Good luck!
ELong
by OrcChieftain