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LINKUSDT The Importance of 0.886 and 0.146 Fibonacci RatiosWhy 14.6% (.146) and 88.6% (.886) are important levels on Fibonacci retracement? The 14.6 Fibonacci ratio, wich has a high mean of assertivity, is mirroned by 88.6, which has become an important entry level and stop loss in the market. 88.6 = 1 - X, X = 14.6. These are hidden levels on the standard scale. But you can add them manually. As you can see on chart, my fave way to use the Fibonacci Retracement is setting the .50 level at the pivot point** that precedes a pullback, i.e. the lowest low of the first downtrend. The price generally tends to retrace at least to the 0.707* level, which is another hidden level. The most common case in the crypto market, according to my experiences, is the price going into the zone between 0.886 and 0.786. In many cases touching 88.6, which can be considered a conservative point for a stop loss. If the price does not retrace from this zone, then a potential trend reversal can be considered. I have considered the range between 88.6 and 78.6 to be a 'short zone', that is, a zone where I usually wait for a reversive price action, or you could say a potential reversal zone. When price follows the trend after retracing then I consider 14.6% as my potential target. Means that tendence continues. This complete zig zag movement is what we call a swing, upward or downward. *0.707 (70.7%) is the square root of 0.5 Fibonacci ratio, wich is a ratio between 1 and 2. **Pivot points (some call them "swing points") are those areas where important short term reversals take place. Okay, let's see what happens during this trade. Thanks for your attention.
Education
by firmestudio
1
BTC pullback to 39kBTC has hit expected resistance around 47k from the PoC of the volume profile of the drawdown since the ATH to the Jan. 24 low of 33k. If BTC breaks the recent retest of the 55D HMA it will increase the probability of at least retesting 39k. The BBWP indicator below confirmed the end of the recent uptrend, suggesting BTC will at least consolidate for a while I have doubt that we'll revisit sub 39k in one candle given how long BTC's bearish sentiment has been since the ATH. But if we do break down 39k, these are the support levels to look out for: 33k-35k, 30k, 27k, and 23k. I have my EW targets set there as I believe the range is a bearish triangle pattern ending on the 47k PoC. Nonetheless, it is a bit worrisome to see coins distributed recently from whales. Short trade: Entry:45.8k SL: 49k TP:39K Support and Resistance Levels are noted on the chart. Green levels are support, and red is resistance. All other colors are areas of interest that could signify a major price reaction.
BITFINEX:BTCUSDShort
by linebands
DARUSDT bearish butterfly in formationDARUSDT bearish butterfly. The price action is in a confluence with the double bottom formation of BTCUSDT. The Fibonnacci ratios is wonderfully converging with local support and resistence. A Potential Reversal Zone (PRZ) is expected from D point 1.41 Fibonacci extention ratio. Oversold condition for the intraday and hidden bullish divergence on Ehlers' Fisher Transform oscillator (detail in aupdates). Ehlers' Fisher Stochastic Sinewave bullish after price action retrace from 50% to 88.6% Fibonacci Retracement. 14.6% Fibo targeting in conjuction to expected XD leg upward Butterfly extension. That's the perfect scenario for a pullback and I bought a buch of DAR tokens for 1USD. Not a financial advice, only my technical analyses.
Long
by firmestudio
1
BTC/USDT : Reached channel's bottom!BINANCE:BTCUSDT BINANCE:BTCUSDTPERP Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $BTC has reached the descending channel's bottom and so there're some similarities to check for... Last time that $BTC has reached the channel's bottom ( Formed the channel bottom); It just pulled back above our S/R local Line located on $~40600 and it has retested the channel's top. Now we have the same bottomed candle formation and the local S/R Line above. Also on wider Look, We have a stiff support zone at $33400 - $32800. So based on our data; $BTC can pullback from the local channel's bottom or the lower Support zone! 📝 The main bias is still bearish and I won't use this possible pull-back to take advantage! I'll only look for possible Longs when we get the closings above $35500 straight from our current level. - The first confirmation should come to our current candle close just like the marked one. - The second confirmation should be the candle closings above $35500, Otherwise, It'll drop to the local support zone it'll invalidate our Long position's opportunity ( Trigger will be closings above $35500 ). - Be informed that our possible short-term bullish will be canceled if we get the weekly closing below $35650. The importance of the mentioned line is just like $42000 (The main bias changer on weekly TF); It's been 280 Days (40 Bars/Candles) Since our last weekly close below $35650! All of the given information is for acknowledgment only! ⚠ The possible pullback won't invalidate our Short-Term positions yet! Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
by Helical_Trades
39
harmonics showing daily bounce attemptid call it 68/32 that we have a daily bounce attempt if we hold these lows. id look for a lower weekly high, and some additional bearish activity going into this week. weve had a good rundown toward support that did break lower on the real body of futures and cause momentum toward backwardation. 5-6 weeks of red usually calls for a countertrend rally and elliott wave scenario is playing out correctively. this is why im sticking to the plain red path in the middle.
AMEX:SPYLong
by cerealpatterns
KNCUSDT wants the pullback? The price is going to have a retracement after 4 months of the uptrend and now it's testing an important area as new support. The price could have a pullback before a new bearish impulse until the monthly support. So, how we can approach it? IF the price is going to have a pullback, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
2
ALGOUSDT|Bull trap or Pullback? Ending Diagonal Wave ProjectionPrice action and chart pattern trading setup > Falling Wedge Ending Diagonal - Bull Trap or Pullback? > Entry @ downtrend line breakout of wave 2 and wave 4 or SMA50 zone > Stoploss @ the lowest minor wave iii/v estimated position - downside limited for final wave 5 -10 - 15% and can be truncated > 1st target at wave 4 position for short term trade and wave 2 position for the medium term. SMA200 is the key dynamic resistance > RRR: 2:1 for short term and 3:1 for medium term Always trade with affordable risk and respect your stoploss.
by dukeposh
DXY 4 Hour - Decision PointWe've been tracking the DXY for a while now as it's rallied up into 2017 highs only to hold a structure followed by a break below, close below. This price action pattern allows me to make a bearish prediction with my personal tactic of entry being to wait for a pullback into previous structure resistance. Our pullback has occurred & is currently looking to once again retest the highs of previous resistance which puts us at an interesting "decision point" IF price can hold resistance again then it would be a positive sign for our short idea. HOWEVER, if price were to violate the highs, then we would be right back in bullish continuation mode with the next stopping point on my radar being 106.40's. As always, if you have any questions or comments on this idea, feel free to leave them in the comment section below as I do read through each and every one of them. Have a great rest of the week in the markets & an awesome weekend! Akil
TVC:DXY
by Akil_Stokes
EURUSD before FED Today is FED's Interest Rate decision. We're expecting to see a rise from 0.5% to 1%. A rise will definitely happen but what's more important is by how much and when would be the next one as well. Technically, we're in a strong downtrend which is more likely to continue therefore we should see lower values. The Interest rate decisions normally cause big moves and rejection wicks in price. A conservative approach would be to look for entries after the news or also tomorrow. The aggressive way to trade it would be to look to sell around 1,0590 and make an entry right after the news if there's a nice long wick. The target is 1,0400!
by ForexTrendline
17
Are we going to see a new low on EURUSD this week?The downside move continues and it looks like we will see another low on EURUSD. The pullback that happened on Friday gives us a chance to enter short again with targets at 1,0400. This week, we also have FED Interest rate as well as NFP. That could possibly mean big moves and potential reversals. At the beginning of the week, we're looking for a breakout of the previous low and we don't want to see price breaking above 1,0600!
Short
by ForexTrendline
22
A new low and a possible pullback in the last day of the month We see a new low on EURUSD every single day. Today, we're expecting the same. In case price breaks below the previous low, we will be looking to close all short positions. After such a move, there's always a time when the big players collect profits and close their positions. That usually creates a pullback. This is not going to reverse the trend but it will actually give us a better entry level for a continuation of the main trend. Good luck!
by ForexTrendline
18