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Reliefrally

Bitcoin probable bounce at weekly 200MAHi, this is my second chart I've posted on Tradingview. I beeeeelieeeeeevee... Bitcoin could see a relief rally here at the weekly 200MA (5.5k BTCUSD). *Vol relatively average to past dumps volume data even though there's a giant spread. *Sitting at a candle cluster with high volume. *RSI at bounce downtrend range. What would be a safe way to get in on a long-term hold? A daily close above 6.15k-6.3k, basically. All you would be doing around these levels is scalping, if you didn't get in at 5.5k.
BITMEX:BTCUSD.PLong
by UnknownUnicorn6907330
SPX - Near-term Bounce Opportunity The SPX has fallen quite substantially, down approximately 8% over the last few trading days, but a relief rally may be just around the corner. I would expect at best, a 50% retracement ($325) of the total fall, but being more conservative never hurt anyone, so a target of around the 38.2% ($322) fib level would be quite a feasible target in my opinion. Whilst it is impossible to determine whether this is or is not the bottom, there are some signs that at least a relief rally may be staged from here. - Bullish RSI divergence - Well beyond 3 ATR on the daily (this is a less reliable metric) - The significant gap between current price action and the key moving averages, particularly between the shorter-term trading moving averages and longer-term averages Any near-term bounce trade after such a significant drop carries inherent risks, however nothing ever goes straight up or straight down indefinitely, nevertheless, position accordingly. -TradingEdge
AMEX:SPYLong
by Profit_Link
Potential Relief Rally to $8-9 upcoming? Price action in the MJ Sector are known for their extremely quick movements and the euphoria is short lived as retail traders take their profits. A quick and massive short squeeze plus hype from overall market sentiment is what it will take for this movement (Since much of the traders of ACB are retail traders). Historically it has done exactly just that. Waiting to see if the next 2W candle (Ending January 31, 2020) creates a higher high above $3.02 and closes above $2.92 with strong volume. A close above 2.92 will form a bullish hammer on ACB's monthly chart, further solidifying this trend change. Note: Historical price action between $4-5 moves quickly as there is little support/resistance developed in this zone. Strong buying pressure that lasts until $4 will leave many shorts who entered from mid November to now in the red, which may potentially cause a short squeeze into the neckline of the monthly Head and Shoulders (Around $6). A short squeeze that causes an artificial increase in price will further drive in retail investors to buy more from this hype, and perhaps lead to another short lived Bull Market as we have seen occurred thrice before.
TSX:ACBLong
by Cuyut1031
5
4 H BTC UPDATEHello there guys, after few day of inactivity, after the weekly close, yday monthly and quarterly close we have still the bounce up due to oversold reasons going on. We could see the volume was declining, hence a possible rebound due to oversold regions in almost all oscillators. We broke our 1st resistance point at 8290-8300, next possible resistance is 8800, which i think could be the maximum we could have as run up for now, REMEMBER THAT THIS IS NOT A BULL RUN!!!, as you can see we are still under the long term EMA (yellow, blue and light blue) and only the fast EMA turning back, we are still under the death cross, this is just a relief bounce up. Possible we have some wicks above 8800, which is also where we find the FIB level 0.382 level. I'm looking to close my 50% of my longs after breaking the 4 h 50 EMA (yellow), then let it ride till it goes, then also looking a point to revers the long trade to a short.
BITMEX:BTCUSD.PLong
by taryjaya
BTC looking for a small relief rally from a key support levelThe price has been moving in a downtrend channel for a week now with no significant bounces or corrections to the upside. There are still not many signs that indicate a larger bounce happening. No reversal chart patterns. The daily chart looks particularly bearish. However due to the fact that this 6750-6850 area is the key support level since the move up towards 8500 started days ago, it is expected that some defending of this level should happen, resulting at least in a small relief rally to the upside. If this level fails to hold, and especially if it fails to produce even a small bounce from these levels and just breaks down continuing the fall, then it would be safe to assume the bears have taken full control of this market once again, and we're likely to see retesting the previous bottom (and more likely) new lows down the road. Currently, the price is trying to form a double bottom on a significant support level. Note that the context here is very important . 6800 area is a pivot point and a key support. There is a clear bullish divergence on RSI across multiple timeframes up to 4h chart. The volume is dying off even though the price tried to make a lower low (and so far failed, which is an additional sign for a potential bounce). If this level holds, we should see a relief rally towards 7195-7215 area as a first target. Second (slightly more ambitious) target would be 7350, which is the beginning of (now) a strong resistance area on this timeframe. Bear in mind, this is a counter-trend trade, therefore it carries more risk. There has been a strong drop, and all we're looking for at this point is to capitalize on a small bounce or a relief rally, because nothing goes up or down in a straight line. It is still possible to see another attempt at breaking the support level and going slightly lower (but should not be with high volume, and ideally should not go below 6750, and even there it should only be a wick and not close a full 4h candle at that level). However, IF the daily candle closes below 6800, then the crucial support area failed to hold, and the drop will likely continue, indicating major weakness is still present in this market.
BITFINEX:BTCUSDLong
by eyupium
1