Golden Pocket on Bitcoin Weekly TimeframeIf we break the rising trend we are on in the weekly timeframe and close the candle below, the GOLDEN POCKET area that will welcome us is very clear. (Don't be afraid.)
Relative Strength Index (RSI)
🔥 A Simple BTC Guide On How To Sell The Top And Buy The BottomPeople say that timing the market is difficult. But is it really?
The monthly Bitcoin RSI seems to be following a very predictable pattern since its inception back in 2011. Actually, the pattern is so predictable that we can draw a perfect channel onto it.
Bitcoin tops around the time that the monthly RSI hits the top resistance, and bottoms once it hits the bottom support. Sure, you won't catch the exact top or bottom, but neither do 99.999% of traders.
If you will buy around the area where the RSI hits the support and sell around the time the RSI hits the resistance you will still be outperforming the vast majority of traders.
For the next cycle, I'm simply going to assume that we're going to top somewhere around the time that the monthly RSI hits the top resistance.
What are you favorite top / bottom indicators? Share them with the community 🙏
SPY long term channel Channel from the high and the low in a downward angle, currently we are in a uptrend. Ultimately I personally think if we hold vwap (purple line) we mayonnaise test the top of the channel. If we loose vwap things could get ugly. Majority of the technicals look good but any economic data or news that’s is bad could change everything in a matter of minutes. Play it level to level dont predict just react and trade. The daily RSI is pretty high so expect large moves up until it crosses back down from being over bought.
V - Rising Trend Channel [MID TERM]- V is in a rising trend channel in the medium long term.
- The stock has broken up through resistance at 231.
- The short term momentum of the stock is strongly positive, with RSI above 70.
- However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards.
- The stock is overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️
RSI Divergence TradeTrading on a RSI divergence as per the chart.
Looking for a switch over or signs of reversal before coming out of trade before 4RR
🔥 Bitcoin Following Elliot Wave Pattern: Correction Incoming?A couple of week ago I made an analysis on Bitcoin and the fact that we can potentially follow an Elliot Waves pattern. For now, my idea seems to hold.
With BTC breaking out this week, we're now in a huge resistance zone that goes back all the way to 2021 and 2022. Furthermore, the weekly RSI is approaching overbought territory quickly.
We can easily move up another HKEX:2 ,500 from here, but I think we need some serious buying to break through HKEX:32 ,500.
Consequentially, I think that there's a lot of investors waiting for the weekly RSI to reach overbought that either want to sell their BTC that they bought in 2023, or that look for shorting.
Not sure where the correction will bring us. For now I look at the August 2022 top around HKEX:25 ,200, but it could also be higher.
FTNT - Breakout Ceiling Falling Trend- FTNT has broken through the ceiling of a falling trend channel in the medium long term.
- The stock has met the objective at 57 after a break of the double bottom formation.
- The price has now fallen, but the formation indicates further rise.
- The stock has support at 63 and resistance at 71.
- The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️
BTC HTF STUDYThis is a study on the TDI and RCI indicators which are some that not many use. Perfect and clear examples in the chart, can't get any simpler.
🔥 SXP: Scouting Oversold BounceSXP has been one of the major winners of the last few weeks, where it gained well over 270% in a very short amount of time.
However, it appears that SXP has topped for now.
I'm waiting for the first hourly oversold reading to occur before scouting an entry. Ideally, we will get in the yellow area of resistance before reversing.
Targets in blue.
BTC 1H Range I find it very interesting just how well BTC can respect the quarterly lines of a range. You can spot certain price action patterns within the overall range but trading within the boundaries of the range can be very beneficial in a sideways environment that we find ourselves in.
When range quarters are hit and coincide with oversold indicator triggers they are great places to go long while we are stuck in this range between 26.5k & 29.2k
Indicators:
RSI
CM_Williams_Vix_Fix
RBLX - Rising Trend Channel [MID TERM]- RBLX shows strong development within a rising trend channel in the medium long term.
- The stock is testing resistance at 47.
- Volume tops and volume bottoms correspond well with tops and bottoms in the price.
- The RSI curve shows a rising trend, which supports the positive trend.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️
Learn 7 Classic Free Indicators For Technical Traders
◻️MACD(Moving Average Convergence/Divergence)
Traders use MACD to identify changes in the direction or strength of the asset’s price trend. MACD can seem complicated at first glance, because it relies on additional statistical concepts such as the exponential moving average (EMA). But fundamentally, MACD helps traders detect when the recent momentum in an asset’s price may signal a change in its underlying trend. This can help traders decide when to enter, add to, or exit a position.MACD is a lagging indicator. After all, all the data used in MACD is based on the historical price action of the asset. Because it is based on historical data, it must necessarily lag the price. However, some traders use MACD histograms to predict when a change in trend will occur.
◻️VWAP(Volume-Weighted Average Price)
The volume-weighted average price (VWAP) is a measurement that shows the average price of a security, adjusted for its volume. It is calculated during a specific trading session by taking the total dollar value of trading in the security and dividing it by the volume of trades. The formula for calculating VWAP is cumulative typical price x volume divided by cumulative volume. VWAP gives traders a smoothed-out indication of a security’s price (adjusted for volume) over time. It is used by institutional traders to ensure that their trades do not move the price of the security they are trying to buy or sell too extremely.
◻️EMA(Exponential Moving Average)
An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent price changes than a simple moving average simple moving average (SMA), which applies an equal weight to all observations in the period.
◻️THE FOUR TYPES OF EMA:
▪️9-EMA is use for short term trading
▪️21-EMA is used for day trading
▪️50-EMA is used for analysis
▪️200-EMA is used for long term view
◻️RSI(Relative Strength Index)
The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to evaluate overvalued or undervalued conditions in the price of that security. The RSI is displayed as an oscillator (a line graph) on a scale of zero to 100.Generally, when the RSI indicator crosses 30 on the RSI chart, it is a bullish sign and when it crosses 70, it is a bearish sign. Put another way, one can interpret that RSI values of 70 or above indicate that a security is becoming overbought or overvalued. It may be primed for a trend reversal or corrective price pullback. An RSI reading of 30 or below indicates an oversold or undervalued condition. Overbought refers to a security that trades at a price level above its true (or intrinsic) value. That means that it's priced above where it should be, according to practitioners of either technical analysis or fundamental analysis. Traders who see indications that a security is overbought may expect a price correction or trend reversal. Therefore, they may sell the security.
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BTCUSDThey my frinds
BTC RSI is in very good halat
so if rsi broked from each side we will go to to seem
enjoy it
GBP/USD rally pushes RSI towards overbought territoryGBP/USD clears the January high (1.2448) to trade to a fresh yearly high (1.2526), with the Relative Strength Index (RSI) reflecting a similar dynamic as it climbs toward overbought territory.
GBP/USD Rate Outlook
GBP/USD may attempt to test the May 2022 high (1.2667) as it initiates a series of higher highs and lows, and a move above 70 in the RSI is likely to be accompanied by a further advance in the exchange rate like the price action from last year.
A break/close above 1.2650 (38.2% Fibonacci extension) may push GBP/USD towards 1.2760 (61.8% Fibonacci retracement), but lack of momentum to test the May 2022 high (1.2667) may keep the RSI below 70 and push the exchange rate back towards the 1.2300 (50% Fibonacci retracement) to 1.2340 (23.6% Fibonacci extension) region.
--- Written by David Song , Strategist
Follow on DavidJSong
@DavidJSong
SPY New Trend ? im expecting $SPY will have small retracement because the RSI in overbought And if we Check the Chart we have Many retracement in the same level of RSI
(Maybe The At 38.20% Level )
Not financial advice im still learning and maybe i have mistakes in my chart <3
What do you Think ?
#SPY or #QQQOne year Daily Chart
a simple comparison by dividng SPY / QQQ
downtrend resisst formed, remained underperform till it breaks the current trendline
BTC RSI Bearish Divergence- BTC risen approx 90% in 130days
- RSI divergence on the daily
- Target is pullback to 200W MA
COCOA forecast w/c 3 April 2023It looks like COCOA is setting up to cool off.
I'm not sure if it'll go lower than 20EMA - I consider this a low risk trade. I don't see the market going much higher without small correction first.
This is not a trading advice. Trading is risky. Always do your own analysis.
BTCUSD - RSI Similarities Falling wedge patterns present on the RSI may indicate comparable bull runs between the one seen in 2017 and the one we are about to see coming.
Arrows on the BTC chart to show the bottom points and where the run begins.
LONDON: GBPUSD - BOBBI/ABCD - IB MOMENTUMGU has broken above structure and typically we expect to retest and continue this move, however we have noticed depletion of buyers leading to a break down of an inside bar. Going for at least 2R with this one
BTC Long Term view for this CycleAccumulation and distribution (tops) marked on BTC's history. By this logic there could be a $180k btc in Jan 2025 (28 months from now). Let's hope!
-RSI marks tops and bottom pretty well, same sort of level each cycle
-According to this logic 17k was the bottom for bitcoin, but we don't know how it fairs in a recessionary environment. I will probably bid in September as that tends to be the worst month for ES.
ETH (CONVERGENCE) + DOWN TRENDhi there ,
convergence simply its mean that the trend its not finished yet not matter its down of up trend but in this case we have a down trend with convergence supportation,
price convergence its support the continuation of downtrend , i,m afraid this up wave its a bull trap and later price will continue down ,
thanks
BTT huge bullish divergenceMonitoring similar price and RSI behaviour like in 2019/2020 before take off.
