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Bitcoin - more crash is coming! -21%Bitcoin crashed significantly, as I warned you in one of my previous analyses: What now? Is the crash over? I don't think so! The halving event is in a few days, and huge volatility is expected. The problem is that below the current price, we have a double bottom pattern, and there is a lot of liquidity that whales need for their huge buy orders. It's really very likely that the market is going to go down! What's more, we have a fair value gap below the current price as well, and usually these gaps tend to be filled sooner rather than later.  It's always important to do an Elliott Wave analysis before making such statements. If we take a close look at the price action, we can see that the impulse wave 12345 was completed and we are in a corrective phase. We need to complete this ABC correction before going higher to an all-time high! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
72
NZDUSD: Oversold Market & Pullback 🇳🇿🇺🇸 As I predicted, NZDUSD dropped heavily after the release of Retail Sales data on Monday. Analysing a price action today, I see that the pair became heavily oversold. The price formed a falling wedge pattern and a narrow horizontal range within. Bullish violation of the resistances of the wedge and the range indicate a highly probable coming pullback. Targets: 0.5925 / 0.5936 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
Bitcoin is ready for a 15% crash! (to 58k)Bitcoin may look pretty bullish, but do not get distracted. The price is forming a bearish distribution pattern inside a bearish parallel channel, as you can see on the chart. Right now, the odds are in favor of another crash. I am not saying this only because of the price action, but also because of the Elliott wave theory: as per my wave count, I am expecting bitcoin to finish wave (C) with a 1:1 Fibonacci extension level. Also look at previous waves, and waves (B) at this point look like an ABC bearish pattern.  Why is 58K important? We have a major swing low from March 5, 2024, and clearly there is a lot of liquidity and orders from retail traders. The whales need to consistently go for strong liquidity levels, as that's their only chance to buy bitcoin with a large amount of money. What they want to do is buy as much Bitcoin as liquidity allows and then send the price to the moon.  Right now, I really cannot be bullish on Bitcoin, but let me know your opinion in the comment section! I will be very glad. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
152
Hindsight for your thoughts: gaps and market cap as resistanceSince bitcoin has already fallen from the price I've marked on my chart, I am going to explain why I think price will go to low 60k. Idea Invalidation: - If price continues to go up while above 2.5 market cap - If bitcoin consolidates here and alts pump hard, then bitcoin rallies again Price direction idea 1: There are currently two unfilled CME gaps in recent times: March 2024 (63k) and April 2024 (67.5k) as seen on the chart. CME gaps usually get filled except for a few. Whenever they don't get filled, price will keep getting bought up during pre-market and reversion traders get trapped, forever holding their $4,000 shorts. Below are examples of gaps that got filled over a long period of time. 2024 new year CME gap. 3 day weekend for NY market. Interestingly, the gap from late March 2024 was also a 3 day weekend, no dumping since Easters. Hasn't fully filled yet, might never. December 2023 gapped up 15%. It also gapped down, but gap downs always get filled quickly so let's ignore it. The December 2023 gap up took nearly 2 months to get filled. s3.tradingview.com Price direction idea 2: I'd say this gives more confidence to my position vs. the CME gap. Market cap: I have an indicator that shows market cap without tether in it. It's pretty much the same as the market cap, except it has nice round numbers. It has been pretty good at calling tops and bottoms of the range that's developed since early this year. You can see that although price is at different points, the range can still define a top/bottom. The bottom/top of the market cap ranges show confluence with the volume rectangles which give confidence to sizing. See more of the cap indicator here: Notes: Why did crypto and NY pump so hard on the March FOMC meeting? It was confirming that rate cuts were coming, but don't tradfi participants/firms still need to pay the same interest rates their trades? This is hindsight, but I thought it would make sense to x1 short coin-margined bitcoin above prior ATH for a better rate than treasuries. Why pay leverage tax on a bet that bitcoin will go up when you can collect funding and lock in your gains? I looked into why funding suddenly flattened out and I saw that Ethena is cash carrying to capture funding. Will Ethena's large OI reduce volatility? Will the suppression of funding cost make price simply float upward as perp apes pull spot arbitragers to the sky? P.S. thank you to all that's supported me throughout the years. You all mean a lot to me :)
COINBASE:BTCUSD
by NeoButane
CRUDE OIL (WTI): Potential Scenarios For Next Week 🛢️ Crude Oil is consolidating after a strong bullish wave. The price formed a horizontal range on a daily. Next week, wait for a breakout of one of the boundaries of the range for a confirmation. Bearish violation - a daily candle close below a support of the range, will give you a strong bearish signal. A bearish continuation will be expected to 83.0 level then. Alternatively, a bullish breakout of the resistance of the range - a daily candle close above, will push the prices higher to 89.0 level. Wait for a breakout, it will give you a strong confirmation. ❤️Please, support my work with like, thank you!❤️
TVC:USOILLong
by VasilyTrader
7
Dollar Index (DXY): Multiple Time Frame Analysis & Plan 💵 After a breakout of a key daily structure resistance yesterday, Dollar Index is consolidating within a horizontal range on an hourly time frame. For those, who are looking for an intraday signal to buy, a bullish violation of the resistance of the range - an hourly candle close above 105.32, will give a strong bullish confirmation. A bullish continuation will be expected at least to 105.6 level then. ❤️Please, support my work with like, thank you!❤️
TVC:DXYLong
by VasilyTrader
1
USDJPY: Your Trading Plan For Next Week 🇺🇸🇯🇵 USDJPY is currently accumulating within a narrow horizontal range on a daily. It looks like the market participants are waiting for some important fundamental data next week to decide where to push the prices. I see 2 potential scenarios. Bullish 151.70 - 152.00 is a key horizontal resistance. Its bullish breakout - a daily candle close above, will be a strong bullish signal. A bullish continuation will be anticipated at least to 153.0 level then. Bearish 150.8 - 151.3 is the support of a daily range. Its bearish breakout - a daily candle close below, will be a perfect signal to short. The first goal for the sellers will be 150.3 support. Wait for a breakout, it will give you a strong confirmation. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
USDJPY: Your Trading Plan Ahead of FED 🇺🇸🇯🇵 USDJPY is currently accumulating within a narrow horizontal range on a daily. It looks like the market participants are waiting for some important fundamental data to decide where to push the prices. I see 2 potential scenarios. Bullish 151.70 - 152.00 is a key horizontal resistance. Its bullish breakout - a daily candle close above, will be a strong bullish signal. A bullish continuation will be anticipated at least to 153.0 level then. Bearish 151.0 - 151.3 is the support of a daily range. Its bearish breakout - a daily candle close below, will be a perfect signal to short. The first goal for the sellers will be 150.3 support. Wait for a breakout, it will give you a strong confirmation. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1