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Key Bitcoin Price Levels and Dominance Analysis for Long and ShoIn my view, if I don't consider the potential breakdown of the 68,170 price level as a fakeout, we shouldn't dip below it. However, if the price breaks below, I would regard it as a false breakout and look to open a short position with a break of 67,594.47, provided that Bitcoin dominance also declines. If, during the breakdown, Bitcoin dominance remains bullish (green), shorting altcoins would be a better option. On the other hand, if the 68,170 level doesn't turn out to be a fakeout, altcoins could offer solid long positions, especially if Bitcoin moves sideways or upward and Bitcoin dominance decreases. Otherwise, Bitcoin itself might present a better long opportunity. In conclusion, monitoring the interplay between price levels and Bitcoin dominance will be key to determining the best positions, whether in Bitcoin or altcoins.
by saeedalipour93
GOOGL 2 VALIDATED CONFIRMATIONS! EXTREMELY BULLISH !!!!GOOGL, 2 VALIDATED CONFIRMATIONS! Last week, I mentioned that I was extremely bullish on Google. In fact, I even sent a buy alert to my investment clients since Google has shown many bullish patterns and is displaying typical "pre-earnings" behavior. However, I have shared my analysis with you for free because I want us all to succeed! And if you've been following my analysis for months, you've seen for yourself that we’ve been on the right track. Everything happens with Google after it breaks out of a channel. Whenever the price breaks a channel, we need to wait for it to reach its high and look for when the pullback will occur. In this case, after finding its high post-breakout, Google entered a candle congestion channel. STACKED CHANNEL: A candle congestion channel can be considered a volume indecision. What do I mean by this? The price creates a bottleneck-like pattern within a very tight channel, behaving strangely, with candles almost the same size and very close to one another. In this situation, it’s very difficult to determine which direction the price will take, and I consider it a complicated and dangerous pattern. All we can do is wait for the price to make a decision. Once the price makes a decision, it breaks the congestion channel, forming a new high, and consequently, reaching our target zone. That’s precisely when it begins its pullback, and the next step we’re looking for is A NEW EXTREME. I’ve marked this pattern in yellow, and I call it the N3 Pattern. This usually happens most of the time after a breakout, and we must be very attentive to the candles it produces to execute it. An N3 pattern involves three movements: #1 Breakout and New High #2 Pullback and Rebound #3 New Extreme That simple. Going back to the analysis, we’ve reached our next stop with double confirmation. In conclusion, I remain very bullish on Google, especially as we are just a few weeks away from Google announcing its earnings report. So, if you're considering entering, whether for a swing trade or long-term, there's still time. Remember that, based on my valuation and fundamentals, Google has an intrinsic value of $180, so the final decision is yours. OF COURSE… This is not financial advice, and you make your own decisions and take your own risks. Thank you for you support :)
NASDAQ:GOOGLLong
by RocketMike111
"All-Time Highs" Finally! New Channel Unlocked ! what's next? Finally, we are at "All-Time Highs" and have unlocked a New Channel. What will happen next? Let’s just let the price follow its course. Last week, we correctly predicted the price movement by creating an "N3" and landing in the order block as support to gain upward momentum with the recent movements the price has made, we have unlocked a new upward channel in which we will be monitoring the price movement in the coming weeks (Yellow Channel). Here, we only need to focus on two things: 1. We can see that the last candle is an "Inside Candle." An inside bar can be bullish or bearish, depending on its context within price action. If it forms within a downtrend, it can be considered bearish, indicating a possible continuation. If it forms within an uptrend, it can be considered bullish, suggesting a possible continuation of the uptrend. (Look up this important candlestick pattern on Google.) In this case, the last two candles were bearish, so we might consider that the market could either drop or bounce again in our order block to continue the uptrend. This is the scenario I will be expecting if we have a bearish market on Monday. Now, if the price falls to the order block zone, notice how it will also respect the support of the yellow channel. This could mark the beginning of a bullish sequence. 2. Its Simple, the price stays within the yellow channel and follows an upward and orderly sequence. Thank you for supporting my analysis, and be very cautious when we are at all-time highs. The price can be highly unpredictable, so always make sure to mark your channels and consider institutional movements of supply and demand. Best regards.
AMEX:SPYLong
by RocketMike111
Benford's Law Applied to Nano (XNO)I have already introduced the Law of Anomalous Numbers, also known as Benford's Law. While using a Logarithmic price scale helps give perspective to the change in price over time, I have added additional lines equally spaced at each magnitude to further clarify price action. I first split each magnitude in half by taking the square root of 10, which equals 3.16. Applied to financial markets Benford's Law suggests price should spend half the time between 1*10^x and 3.16*10^x and the other half of the time between 3.16*10^x and 1*10^(x+1), etc. Despite this representation, we are only concerned with the leading digit, so price does not have to spend an equal amount of time at each magnitude. The longer the period of time and orders of magnitude in price we measure, the greater the likelihood the leading digit will gravitate toward the power law distribution seen below. We should note that subsequent digits appear to follow this distribution as well but gravitate toward a uniform distribution the further away we measure from the leading digit. This is independent of the base number system used and can most easily be understood using a percent change perspective. The probability of leading digits: P(1) = 30.1% P(2) = 17.6% P(3) = 12.5% P(4) = 9.7% P(5) = 7.9% P(6) = 6.7% P(7) = 5.8% P(8) = 5.1% P(9) = 4.6% Legend and how each number can be derived but arranged in numeric order: sqrt(1.78) = 1.33 light blue sqrt(3.16) = 1.78 purple 1.33*1.78 = 2.37 pink sqrt(10) = 3.16 red 1.33*3.16 = 4.21 orange 1.78*3.16 = 5.62 dark green 2.37*3.16 = 7.50 light green 10 dark blue Next order of midpoints in gray I find it interesting how midpoints, midpoints of midpoints, etc., seem to consistently interact with price as support and resistance rather than just being an arbitrary number along a supposed random walk. If we continue to take midpoints of midpoints infinitely, we will naturally fill in every number. We then gather that the most significant number is 1 (across magnitudes), followed by its midpoint (3.16), followed by the midpoints of the midpoint (1.78 and 5.62), followed by the midpoints of midpoints (1.33, 2.37, 4.21, and 7.5), etc. Market pressures force price in one direction or another but seem to shift or alleviate around these and other midpoints until that pressure subsides or other pressures arise. These price levels are not the cause yet are interconnected with the effect as seen on this chart and others.
by UbiquitousAngles
1
Benford's Law (The Law of Anomalous Numbers)In a previous post we discussed the significance of price levels. Prior highs and lows are often revisited, sometimes more than once and act as resistance and support. Like a magnet these major and minor highs and lows appear to attract and repel price over time. With this information we drew trendlines creating channels in order to anticipate future price levels. To view a growing price chart over a long period of time is impractical using an Arithmetic scale for price. For the most part, all analysis is done using a Logarithmic scale instead. This allows us to view the percent change uniformly. To understand the drawback of an arithmetic chart, consider how it may look for prices to change from 2 to 10 then 10 to 50. The move from 2 to 10 is only a difference of 8 units, whereas, 10 to 50 is 40 units. The percent change is the same, as is the rate of change assuming the same amount of time eclipsed. Logarithmic charts allow for a better gauge on momentum, but our understanding of numbers as they relate to each other may still be incorrect. The Law of Anomalous Numbers or Benford's Law states that given a data set that does not have built in constraints or parameters to influence the output of data, the leading digit will follow a power law distribution. The larger the data set and orders of magnitude covered, the greater the conformity to this distribution. We may have assumed that the most likely outcome of leading digits in a data set would be uniform, but this would be incorrect.  As a percentage the expected distribution of leading digits using numbers in base 10 is as follows: P(1) = 30.1% P(2) = 17.6% P(3) = 12.5% P(4) = 9.7% P(5) = 7.9% P(6) = 6.7% P(7) = 5.8% P(8) = 5.1% P(9) = 4.6% It should be noted that the shape of this distribution holds regardless of the base of the number system used. Using base 10, the median leading digit of the distribution is 3.16. This means that half of all data points should fall between 1.00 and 3.16 while the other half fall between 3.16 and 9.99. Without this understanding, we might have otherwise expected 5.5 to be the median leading digit as in the case of a uniform distribution. The chart above shows equal spacing between price levels on a logarithmic chart. They can be found by taking the square root of 10 (= 3.16), then taking the square root of 3.16 (= 1.78) then cubing 1.78 (= 5.62). Midpoints play a significant role in my analysis and is the basis for using these numbers. 1.0 black 1.78 light blue 3.16 red 5.62 dark blue This organizes the expected distribution into quarters. Over time the actual distribution of leading digits observed should gravitate towards the distribution of Benford's Law. While I have had my doubts about the validity of using these numbers as price levels, I couldn't keep this to myself given its apparent relevance.
BNC:BLX
by UbiquitousAngles
1
Bitcoin's Price LevelsSimplicity is significant. When viewing a price chart, what are the first things we notice? Highs, Lows, and Slopes As we begin to analyze a chart, note the major and highs. Like a magnet, these are price levels that price will gravitate toward and repel from over time. How price approaches these levels will give us insight into the likelihood of a continuation or reversal at the price level. A price level is resistance when above the price and support when below the price. The space between price levels is the range. The more times price interacts with the price levels that make up the range while remaining rangebound, the higher the likelihood that the eventual breakout from the range will result in price never returning to the former range. A relatively long amount of time spent rangebound is a sign that price has stabilized and is ready to continue or reverse the preceding move that brought it into the range. Oftentimes we notice resistance turned support or support turned resistance as price breaks through a price level. This would imply that one price level is losing its significance relative to the next price level, which may not yet be identified. In order to identify a price level that does not yet exist, we must turn to alternate charting methods. Channeling is one way to incorporate price levels with the slope, i.e., a channel is a sloped range or an average rate of change with the expected deviation around the midpoint. Occasionally the price levels that make up a range are seemingly ignored in the case of a breakout. The next area of resistance or support can be identified by drawing a channel. A downward channel is formed by drawing a trendline that connects two major highs with a parallel line that passes through the major low separating major highs. An upward channel is formed by drawing a trendline that connects two major lows with a parallel line that passes through the major high separating major lows. At every moment multiple ranges and channels exist simultaneously. Special attention is paid to price as it approaches the support or resistance of a channel, as we search for the formation of new price levels and ranges. There is also significance when trendlines and price levels intersect since the market must decide which force is stronger. At times price is not near an intersection but the timing of the intersection may prove important to changes in trend. When the price remains rangebound, the market is taking its time to organize its next move. Breaking through the support or resistance of a channel should alert us to consider a different or altered channel along with other metrics, such as moving averages.
BNC:BLX
by UbiquitousAngles
Modeling a shift in SRAS and AD over the past year, I think. I used the U.S PCE YoY as the base, I then overlaid the M1 YoY and Real GDP YoY. I used the beginning of this years as a reference point as that is roughly when the fed began increasing interest rates. As the price level declines demonstrated by a decline in the money supply and PCE YoY declining Real GDP YoY is seen increasing To my understanding this visualizes how SRAS and AD have shifted to the left over the past year
ECONOMICS:USPCEPIACEducation
by MostlyFXcharts
XAUUSD Outlook 21/6/23 See how i caught the sells 📉What is up gold gang! hope you had a great day in the sells! The reason for taking them was: .. Price was at my level Price made a strong move up to touch it 15m rejection candle Entered on the break of the candle. Simple. We had a bit of news that helped the market move in our favour and it ended up running 200 pips. My classic entry model was there too a little later on. Congrats if you got in! Tomorrow we had JP chatting his usual waffle, so we will get some volume around that time! In the mean time im expecting a pull back to at least 50 percent of the move from today. Price has closed very bearish underneath all the wicks from the previous month worth of price action. A pull back would be likely at this point. Buys, sells and reversal points are all on the charts awaiting your gaze. 1930 is a problem area in the sells, if you like you could wait for a close below there. The buys are very choppy .. so be careful up there, stay frosty with the risk management. Thanks for reading guys .. please hit the like and boost button for me! and follow along to be constantly updated on xauusd tommyXAU
OANDA:XAUUSD
by tommyXAU
5
DOT Price actionDOT is currently meeting resistance at the bearish Order Book level. if DOT can breakthrough, it can easily go to $25, with an additional volume and momentum on DOT, DOT can also reclaim and test the Major 0.5 Fibonacci level at $30. If dot fails to break the bearish order book, I would suspect DOT to retrace to $20 which is in line with DOT current trend line (Orange Line), and in the worst-case bull scenario, DOT could test back the region between 0.5 and 0.618 minor Fibonacci level, as this is also where the bull Order Book that powers up the current upside reside currently, it will be a powerful support for DOT in the continuation of bull run. Tell me what you guys think about this in the comment section below, and do remember, this is not financial advice, do your own research, and trade at your own risk. Thank you
by ZombieGod11
Current Downside TargetThe hash ribbons indicator which is very rare to happen has already lit up into buying signal and after days of green candles, I suspect and hope (actually) for a better leg up in a retracement of BTC's current price. My good case retracement scenario is BTC testing the 41K level as it is the price where the blue downward slope and as 41K price level is around 0.5 Fibonacci level from the newest daily low (37.3K-ish) up to the highest point (45.3K-ish). (This price might be a good time to go long in trades and take profit quickly after meeting the resistance around 42k-43k). #Not a Financial Advisor If it broke down, we will see a test around 36K level, and from that point, it's best to continue watching BTC price movement as this is the second to last support level. The last support level in a very worst-case scenario according to my analysis is around 32.2K which is accidentally the same as the 1.6 fib level and CME level. So yeah, This is my current price analysis of the downside level that BTC can put its leg up to... Looking forward to seeing your comments and what you think will likely happen according to your analysis... THX
BITSTAMP:BTCUSD
by ZombieGod11
BITCOIN ON KEY SUPPORT AND PSYCHOLOGICAL LEVELBitCoin is on key support and psychological level of around $30,000 per coin. Bitcoin is in a falling trend channel in the medium long term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The price fell below $31,000 support on Monday after sideways trading gave way to downside pressure and hitting local lows of $30,235. Traders had broadly predicted a move downward after Bitcoin had failed to hold on to support levels higher up, with the integrity of $30,000 itself being called into question. Last month the price formed a triangle on a daily basis, and if the price bounces back from the current support level, it would be possible to quickly test the previous resistance at $40,000 or move higher at levels around $50,000 or $58,000 significantly when regulatory discussion on Bitcoin exchange-traded funds is entering its ‘’final stages’’ and that the company is committed to turning GBTC into such a product. But if the price breaks and stays below that critical support level of $30K, its downward movement can reach the next psychological level around $25,000 or $19,000. If the downward movement continues to $19,000, it will confirm the broken daily triangle and reached triangle neckline. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
COINBASE:BTCUSD
by legacyFXofficial
1