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BTC Fake Break Down or a New Downtrend in marketHello Traders, Weekly close was more of a Downtrend Depletion with a Doji being formed on our charts. However, as we see it now, we are currently looking at a weekly opening which could end up creating quite a lot of Panic in our trading community. We have already gone below our last week's Low and the week just started. Although we would want to believe that its just a Fake out, other technical Indicators like RSI, MACD, AWESOME OSCILLATORS might not support that theory. As of this moment, we at ChainAssets.Capital see this as a possible Fake Breakdown, to overthrow the small Retail Investors. However, Trading has always been a game of probability, thus it is more safe to assume that it is not a fake breakdown but market is actually losing its value. We would like to speak levels now. As per the current scenario, if we manage to stay above $35k, we might see some sort of Support from our Major TrendLine on Weekly (which is also a good support for our supposed isosceles triangle). However, if we see that our support at $35k gets broken, we might wanna start looking for Shorts from here on out, because in that case, we will starting a new Downtrend in which all our previous Horizontal and Diagonal Support levels will fail. We estimate that if the market keeps on Dropping, we might see some rather bold Levels in Market all over again. $10k being a possible target of BTC, Alt Coins might face more consequences. Though only one possible scenario suggests the probability, it is still a good chance. Although we will see some sort of support at our previous key levels like that of $29k, and $19k - $23k ranges, we aren't too sure about them being held when the whole of our Market will be panicking. It is even possible for Market to stoop at the mentioned levels at a much faster rate than we expect. Please use Stop Losses in all conditions, be it Futures or Spot. No one can really tell if the market is going to fall or not. However, it is safe to assume that it is going to even if your technicals say otherwise. Positive Side: although the first scenario has been negative of our general Idea on Market, there are three other scenarios in which Market might get support from here. AS per price action, we simply reached an end for down wave and the evident marker for that is last week's Doji. If we manage to, somehow, get above the high of Last week's Doji, there are simply unlimited possibilities after that. But market has never been that easy to read, so still keep your Stops below Last Week's Doji's Low. There's also a possibility of getting a support at $29k to $32k range as well, in which case, Market might give us a really good pullback till $35k to $39k range, but not beyond that since, it will be the beginning of a rather long Consolidation period. But hey, consolidation period isn't all that bad, you can still expect to play horizontal Support and Resistance to go Long and Short and still benefit from the market. We were however, seriously hoping to achieve new highs in the coming months of June and July. But that's Crypto for you, it gets heavily affected by how the world experiences its events. DISCLAIMER : we simply project our ideas in our public analysis, and this should not be treated as a trading Call. Our analysis is also not written in that sense. The only reason we share these ideas is to get other's suggestion on what they think and how we all can improvise using each other's inputs. For trading, use your own analysis and never depend on someone else's analysis!
BITSTAMP:BTCUSD
by ChainAssetsCapital
GBPJPY - Looking for shorts Explanation: I'm expecting GBPJPY to sweep the highs grabbing liquidity to then see a further downside! Ain't looking for any sells right now until I see a BOS, Once this has happened I can then confirm sellers have stepped into the market and it's time to follow the move down. Will be looking for sells on the retest into a new Order Block / Area of supply ! Educational Tip: Rising Wedge A rising wedge is when price is squeezing upwards into a potential reversal area. As you can see the impulsive are getting smaller and so are the correction. Price is distributing order ready for the next move in the market !
Short
by Ryansanalysis
2
Bitcoin holds above $40k after Fed hikeBitcoin (BTC) held above the $40,000 level on Thursday amid a broader uptick in global equities as the U.S. Federal Reserve (Fed) hiked rates by 0.25% as expected. Fed chair Jerome Powell signaled the U.S. economy was “very strong” and could handle monetary tightening, causing a jump in equities. Meanwhile, the Bank of England will also holds its policy meeting on Thursday and is expected to raise interest rates to their pre-Covid levels. U.S. futures shed 0.51% in European hours while brent crude jumped 4% to near $100. Europe’s Stoxx 600 rose 0.22%, while Asian markets added a second day of gains with Hong Kong’s Hang Sang index rising 7% and Japan’s Nikkei 225 increasing 3.46%.
BITSTAMP:BTCUSDLong
by chalgfetelec
Bullish Rectangle or Double Rising Wedge?It's a major debate at this moment wether Bitcoin is forming a bullish rectangle or a double rising wedge. Regardless of opinions, when zooming out on the 1h, 4h and daily charts, it is hard not to first observe the bullish rectangle. And in the end, we care about the long term. If the rising wedge is confirming with a slight drop, it will be only short, retail stop loss hunting which will most likely not break 36,500 As we have consolidated at crucial support 38,000, it is expected that bitcoin will tackle the next major milestone at 40,000 before the big battle at 43,500.
Long
by Mortdecai
3
Eth is going to meet the last line to break before reaching to 4The market is increasing it's value very smoothly but steadily and now the ethereum price is getting closer to a resistant line which is the last line of Defence for bears before getting to the range of $4,000 and it has to break it with a very good and significant candle in order to reach the range of the $4,000 which is so important if it wants to set a new record of ATH so if you want to purchase some you have to monitor the charts often ... Guys at the End let me remind you that this is not a financial advised you have to do your own research before start trading wish you all the best...
by lVlr_khashix
USD index pt. 3.1So previously I posted an idea about USD index turning aroun to go down. But I remembered about wave count, so we had 1st and then corrective wave went down to fib level 0.5, then we had a 3rd wave and now we are in 4th wave, which is heading down to fib leve 0.236. If this wave count is valid, we can actually expect USD index go back up and this time and test the top of this big rising wedge and maybe even that dark blue line which is a strong support/resitance level in 4h chart. Good luck!
TVC:DXY
by EdgarsFX
1
REEF ANALYSISHere's a quick look at REEF 4D chart . As we can see, the price has been showing a trend line support and moving in the Rising wedge. It also respecting box patter n and moving nice in box ,breaking upside only .We can see a breakout anytime in any direction . Wait for retest and buy it surely. Definitely one to keep an eye on . The best entry at 0.028$ or after breakout upside and retest. Targets 1 0.03827$ 2 0.045404$ IF YOU LIKE THIS SHOW SOME LIKE AND FOLLOW THAT WILL ENCOURAGE ME THANK YOU
RLong
by YouDo_
1
EURUSDEURUSD right now is at really crutual level. Blue line is previous support level on 1D TF But as you can see price right now has reached top of a daily falling wedge and top of 4h rising wedge which is also at fib level 0,786 Plus this 4h falling wedge is a corective wave (ABC). I see a possible way down from here to test bottom of daily wedge, but EURUSD looks really bullish now, so it can break the top. Only way to know how this one turns out is waiting, as usual. I have a open sell on it, but to be honest it can go both ways from here, so if you are shorting EURUSD, keep your SL close. Good luck!
by EdgarsFX