Bitcoin cyclical natureIn the chart you can see multiple occurrences showing loss of momentum that in the past cycles resulted in further downside for BTC.
Relative Strength Index (RSI)
The level to short AUDUSD is 0.7025The trend for AUDUSD is down on H4 and D1.
The price inside the moving average of H4.
M15, M30 and H1 is all overbought.
Waiting for a double top to sell.
There are also two harmonic patterns happening at this zone.
Bullish Divergence vs Bearish Flag on BitcoinCurrently, EMA21 appears as resistance in the 4-hour timeframe. The Bear Flag formation we are in also carries the targets further down.
However, although the positive dissonance in the Relative Strength Index correlation gives us hope, the trend formed for the RSI is a harbinger of probing the lower band within the channel.
Also, another negative indicator is that the Stochastic Relative Strength Index is blinking down from the tops.
BTC-USDT(Falling wedge formation,with bullish rsi divergence)I think will see move to upside..Risk reward ratio 1:3
Ethereum weekly RSI is an it's lowest point everIf in the last 5 years you ever felt Ethereum was oversold now it is even more oversold.
Why the market bottom is probably very close - USDT.D Observe the 10D (!) chart above.
1) Price is above the upper bollinger band. Candles don't often print outside bollinger bands and, if they do, the price quickly corrects inside the bands. In this case, the index should drop.
2) RSI. Look at the levels and what happened each time it hit them. Remember, this is a 10D chart (high timeframe) which means indicators print more powerful signals.
However, keep in mind: A move outside the bands calls for a continuation of the trend, not an end to it. Often, the first push of a major move will carry prices outside the bands. (such is the case with the last move)
On the other hand, a sharp move outside the bands followed by an immediate retracement of that move is a sign of exhaustion. Now, the long wicks above the last few candles printed signify that immediate retracement, in a way showing trend exhaustion.
All things considered, I find it highly unlikely USDT dominance keeps rising. Inflation is still very high (no matter those clowns at the White House or the EU parliament saying they have it under control with a 50bp raise, like that is going to undo years of money printing) and crypto is growing (not necessarily good because the market gets more emotional and irrational when the average guy/girl plays a big part, but my point is that liquidity has and will keep rising). Probability wise (looking left at the chart), it is about time USDT.D drops and crypto starts rallying again.
Bitcoin Stands Above Sirat BridgeAs you can see, we are in the falling channel form in the weekly timeframe and we have reached the support point of this current channel. We also polled wma200, which has served as a trend changer for the bear market for years, although we are currently below this moving average, I hope to close the week above it.
On a weekly basis, our Relative Strength Index value appears to be at historical lows.
If we break this channel and even if there is a candle closing in the weekly timeframe under wma200; I do not think that the figures such as $13,500, which is currently spoken in the society, will hold the price, and I predict that we will go to the minimum $6,500-$9,000 range.
In a possible reaction rally, I think the price target we can reach is the wolfie resistance area of the current channel.
We can see serious candlesticks under wma200, this is normal, but we should never, ever close weekly candles below this moving average.
BTCUSD WEEKLY FIBONACCI TARGETSBitcoin weekly Fibonacci targets shows that this bear market is just a correction for next bull market which targets to 136k
WSIENNAUSDT - OversoldThis one will be quick:
1) Look at the RSI. Self explanatory
2) Bollinger bands tightening sharply. Indicating imminent big move.
3) Last time it did 180% in 2 days. Enough said.
4) Project has great fundamentals
Careful with leverage here. Small position only (especially with this BTC volatility). Maybe wait until BTC stops capitulating.
Timeframe: Could be days (week(s) for the bigger targets)
Return: 0.4x - 3.3x (targets: 1.4, 2.4, 3.3)
Amount risked: 5-6% of funds
$BTC OBV I have NOT changed anything to the chart - OBV holding$BTC OBV I have NOT changed anything to the chart - OBV holding
Right now the price is going down very slowly (no panic selling, no mega volume) and the OBV is holding, the RSI is super oversold.
This is max pain, it means it is max opportunity. I am not saying to sell your house to buy bitcoin now, I am saying the probability to have good entries for the next few weeks, is high.
I think we will play in this area until $20k. Then, run it back turbo. OBV is holding and I am happy.
$BTC RSI is beautiful right now, let's see if the same happen?$BTC RSI is beautiful right now, let's see if the same happen?
You can see at the last cycle, it broke the RSI downtrend and slowly played around for a few weeks, then back up.
To me, because this current drop is so slow, because we are so oversold, and because other major indicators are showing a sign of reversal within the next month or so, we are close to the bottom.
Of course, anything can happen, but I think that $20,000 BTC will be held and protected.
ANYTHING CAN HAPPEN
DCA your position.
LOGARITHMIC INDICATORS bull vs bear Bearish case:
- If 69k was our 5th and final wave, RSI failed to make a HH which is typical of a weak final 5th Elliot Wave. Price made a new high and RSI made a bearish divergence.
- Weak volume with next to no strength in flow of the move
Bullish case:
- Given EW theory, the 3rd wave should have significant volume and the 5th should display a clear decline in volume after the 3rd wave. So if 69k was the top 5th wave, we did not see this in volume, rather we saw a constant 'resistance' in volume with no real significant decline
- RSI did not have as sharp and aggressive decline after our "peak," like we saw in 2018. A much slower downward trend with not a lot of confidence, now reaching bear market historical lows
- OBV had next to no peak like we saw in 2018, and though recently it's flat-lined it is still technically making HH's and HL's (this is displayed on multiple exchanges)
When volume dies out, it usually precedes a significant move, I've said this before in my other posts. I'd like to see a clear decision down or up that would kick-start our next run up with strong spike in volume.
I've taken this info from multiple exchanges, not just this one you see above.
In the end, Bulls and Bears can both be right and still profit together, just depends the timing of it and the side you are on at the time of the move.
Right now is the time to be objective and not marry your bias.
V
Weak NZDCAD LONG H1 ReversalPrice was rejected on the same level before, trying to catch a small pullback.
Confirmation: RSI and MACD Divergence
To watch: Might move TP to a lower level, possible on the previous high. As this set up might only be a pullback and might not be a reversal
GBPAUD - Long by Double Bottom& RSI Divergence 6/10/2022- RSI divergence with B point > 50 (Bull > Bear)
- Double Bottom:
COCP and playing the setupBuy Shares Strategy -
Buy COCP @ $0.44
RISK 4.7% -> Stop Loss $0.4193
TARGET 1 Reward: +4.7% $0.4607
TARGET 2 Reward: +11.4% $0.4900
Looking to break out of this nice wedge; RSI is looking good, STOCHASTIC is trending neutral however.
8 EMA about to cross the 34 EMA, hoping to catch the move before liftoff, with preplanned risk (stop loss) in effect.
Volume is lacking, needs more volume for the push.
*Let's see what happens*
DISCLAIMER - I am not a professional trader. These are merely my thoughts and possible moves; i enjoy watching these stocks validate my process or slap me across the face lol. If you are in need of professional assistance with your trades, don't look here. I am not that guy.
Taking a long position on EURGBP It is time to go long on EURGBP.
The pair has reversed downwards. However there is an opportunity to capture about 30+ pips by going long.
There is a butterfly pattern and M15 divergence.
$BTC Weekly RSI - expect some pump upIn my own opinion, we can expect a little upward movement. We closed an inverted hammer candle on the weekly, + respecting the trendline on RSI as support. Always be ready for anything to happen.
BTC - 50% Probability!!Hello to all members of TradingView and my followers.
Well, Bitcoin fluctuations have intensified in the last 24 hours.
The buying pressure we saw the day before in the range of $ 29,500 caused the price to hit the range channel ceiling resistance again in the four-hour time frame.
Again in the last few hours, we have seen a sharp drop in prices from $ 31,500 to $ 29,900. These strong fluctuations are made by whales to activate the losses of traders who trade in futures with high leverage.
For short-term trading, I suggest trading only on the main resistance support levels drawn in the 4-hour timeframe. (Otherwise, there is a very, very high risk of trading between the roof and the floor of this range channel.)
The $ 30,000 to $ 29,840 support range is currently a good reaction, and the price is squeezing in the middle of this range channel.
According to the candlesticks you see on the chart, the probability of the price coming out from each side is about 50%.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know.
Respectfully.
NZDUSD .618 Fibonacci| Harmonic| SFP| Price Action Evening Traders,
Today’s analysis – NZDUSD – trading from a key trade location where a bounce is plausible,
Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Harmonic B Leg to C Leg Confluence
- Price Action low objective
NZDUSD’s immediate price action is trading at a technical area that has confluence with the .618 Fibonacci and the Leg B, allowing for a bullish bias.
The Leg C is the immediate objective, reaching this level will confirm a potential harmonic
The overall objective is the range low, exceeding this region needs to hold for a continuation back up
Overall, in my opinion, NZDUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd’
BEARS vs BULLS Before, I brought up the head and shoulder on the RSI for the 1D candles. Today it’s at 65.05 on the RSI. With super bullish being considered 65+ and the head of the rsi is at 85. There’s still room for it to run before the head and shoulder is out of the picture. There is a lot of hype about the short interest that still could drive in more buyers. With more upside is still in the picture, if the head and shoulder pattern is and option on the RSI, it could head down to 20-30.
Here is the sell zone for USDCADDaily is down
H4 is down.
Pair is hitting the H4 MA
M15 OB but there isn't enough divergence.
Awaiting a sell at 1.2615 - 1.2630
Stop loss around 30 pips.
EURUSD POC| .618 Fibonacci| Price Action| Trend Evening Traders,
Today’s analysis – EURUSD - trading towards a key technical trade location where a bullish reaction is plausible,
Points to consider,
- Price Action Corrective
- POC Region Support
- .618 Fibonacci Support
- Declining Volume
EURUSD’s immediate price action is trading towards it POC that is in confluence with the .618 Fibonacci, allowing for a bullish bias.
Holding this POC will help change the immediate structure that is placing a higher low.
The current volume is declining, and influx is highly imminent on the next expansion.
Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps, thank you for following my work
And remember.
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
$eRSDL - tkcross_channelbreak_1hr -Price is leaving the channel, ranging for now. Ichimoku;
tenken sen crossing kijun sen in the next few hours would signal bull. RSI has room to move up still. Greater volume is required for further upside imo. NA waking up.
Set call/limit order/alerts. Targets near the bottom of the kumo cloud. Tight stop at nearest bear fractal below call.
call/limit order: 0.1400
tp_01: 0.01514
tp_02: 0.01700
stop: 0.01230
never margin trade. go well.
