GBTC versus BTCUSD (Bitcoin)(1) 🔬 Dividing the GBTC price by the BTCUSD price, we have this chart in a downtrend.
This indicates that GBTC has underperformed Bitcoin.
🟢 The price spent most of the time in the green rectangle, threatening to break out several times.
In March 2021, GBTC broke out of this rectangle.
🟣 Projecting this rectangle downwards, in a new purple rectangle, we have a possible target, which culminates exactly in Fibonacci prediction 2.
Price is currently in the middle of the rectangle, testing the 1.516 forecast.
🐂 For a bullish reversal to materialize, price needs to break out of the exponential 55-period Bollinger Bands' bear channel:
(2) 🆚 Bitcoin's MarketCap vs GBTC's MarketCap
📈 MarketCap of Bitcoin:
📈 MarketCap of GBTC:
🧮 If we divide the GBTC marketcap by the Bitcoin marketcap, we have a percentage of 1.95%.
🤔 Question: In the worst case scenario, if GBTC and Genesis go bankrupt, and if Grayscale sells all the Bitcoins it claims to have, what would be the impact on the price of Bitcoin?
(3) 📈 GBTC price
On the diagonal Fibonacci channel, the price touched the -0.5 retracement.
❓ Question 1: On the vertical Fibonacci retracement, will price test the 0.618 retracement at $7.06, stretching wave 5?
❓ Question 2: Or will the price go even deeper, hitting the 0.5 retracement at $3.68?
🐻❄️ If this happens, the DMI SMI oscillator could indicate a key moment rarely reached (see green circles).
Rectanglepatterns
Clean setup, Good returnsExtremely clean setup, Breaking the rectangular pattern. Atul Auto went highly bullish , 55% up after braking the consolidation range.
This one I hold in my portfolio. Only regret I have is why didnt I add more.
Gap is perfect, Weekly resistance level broke with good volume , Breakout came with good volume . Sustaining the breakout with volume , Broke 200 DMA weekly with a gap. What more do you need for entry in this? Accumulation should start for targets of 335, 375, 410 levels.
Btc short to 13kAs we can see btc approaching the bottom of the range. Breakdown target is around 13k. Trade safe
GBPUSD rectangle patternFX:GBPUSD
we have rectangle pattern and we just wait for london session to complete pattern and get short position
USDJPY ! wait for break rectangle pattern, trading analysisUSDJPY seems to have formed a rectangle pattern. Such patterns are very difficult to break, so be careful when trading. It can be successfully traded by buying at support and selling at resistance or by waiting for a breakout.
SHOP: RECTANGLE PATTERNSHOP (SHOPIFY)
Nice rectangle pattern with prices ranging 30 and 40.
Rectangle can be either continuation or bottoming/reversal patterns.
Now trying to break the top of the rectangle . Price also above EMA 50 which is positive.
A firm break of 40 would trigger a long trade to 54, with numerous resistances on the way, including a gap (see lines on the chart).
Stop loss just below the 50EMA
Trade safe!
USDCHF Sell!USDCHF has been trading inside a rectangle for years now ! just recently price retested the upper limit of the rectangle pattern and got pushed down vigorously ! I believe that this time around , price would be able to break through the support of 0.95500 and push down all the way to 0.94740 ! my final Target for now is 0.94740 !!
Bitcoin playing rectangle pattern on daily timeframe in bearish Bitcoin playing rectangle pattern on daily timeframe in bearish
EURCAD BUY!!EURCAD has been trading inside a rectangle since April this year ! recently the pair tested the support and got pushed upwards ! Having had a failed attempt at getting pushed to the downside by the pivot line of the rectangle , i assume that the pair will be going up till the resistance of the rectangle before it gets pushed back in the pattern . My final Target for this Pair is 1.37400 !
$RNDR fixing the rectanglerender token created a nice rectangle in the past days, and is currently retesting its support level @ $1.5 : if it breaks to the upside, we can expect a good uptrend bringing at least a 7% profit targeting the next $2 resistance, which is also the 0.382 fibonacci level
the rsi is not looking bad to me and it has much growth potential
let me know what you think about this idea!
PRZ as Rectangle on AUDNZD to sellI see a potential zone to sell as the rectangle has been formed. I'd only enter the trade if I have a breakout and a have a retest. The retest must have a candlestick pattern that tells me to enter the trade like a doji followed by a bearish candle or followed bearish candlesticks.
Kotak BankKotak Bank broke out of rectangle pattern on smaller time frame charts with decent volumes. Kotak managed to break past 1792-1793 level comfortably which was acting as a hurdle for past couple of sessions..
Could be bought with stoploss of 1756 & targets of 1722(if holds) thn 1740 +
Hang Seng Tech Index: Rectangle May Hint at Trend ResumptionThe Hang Seng Tech Index appears to be carving out a Rectangle chart pattern on the 4-hour setting.
The ceiling seems to be at 4883 with the floor at 4300.
Breaking above could open the door to extending the mid-March bounce, but that would place the focus on a long-term falling trendline from February 2021.
The latter may reorient the index lower. On the other hand, clearing the trendline could open the door to a material change in trend.
Breaking under the rectangle exposes the 23.6% Fibonacci retracement at 4044 before the March low comes into play at 3463.
HSI:HSTECH
SCGP | Dragon Rectangle | Entry @ Doubled Bottom BreakoutPrice Action & Chart Pattern Trading Medium-Term Setup
> Dragon Rectangle - Doubled Claws / Bottom Breakout signal
Indicator:
> Smart Money and Banker Chip Volume support
> BBD Banker bullish signal above baseline
> Fundflow bottom with reversal pattern
> KDJ Stochastic on uptrend ribbon
RR: 2:1
Always respect your stoploss
SILJ RECTANGLE PATTERNSILJ :
Are you bullish on Silver ?
Beautiful rectangle pattern on junior silver miners .
Traders could trade the top and bottom of the rectangle or wait for a break of USD 18.
Potential target of 22 if we break bullish. Then we could see 30 if Silver breaks past USD30-35.
Trade safe.
tata motors intraday setup for 3/05/21in a rectangle patter for now which go even further down if it breaks the supply trendline in NSE:TATAMOTORS
only for educational purposes not recommend for trade
Intraday escorts idea my trade setup for tomorrow (3/05/21) in NSE:ESCORTS
only for educational purposes.
CHFJPY RANGE. A possible move down to the daily support.The price has been trapped within this range since December last year. This last week, the price gave a fake break out of the resistance, then closed the week back within the range (forming a weekly pinbar). Within this upcoming week I can expect to see the price drop further down to the support once again around 166.305. Before I take entry on this pair, I'll wait for the price to once again retest and reject the range resistance at 117.613. If the price will give a daily rejection of that level, then I'll be interested in taking a short trade back to that support at 166.305.
Long EURGBPRecently EURGBP ranged in H4 rectangle pattern and falls to below of this and makes a bullish pinbar candle.we can expect some upside movement from this area!
