Bearish The passed few days RDBX has been forming a head and shoulder on the RSI. But today the RSI rose above its last point but the price action stay below. With a higher RSI combined with the lower price action is usually bearish for future price action.
Rsidivergence
NZDJPY - Bearish Bat checkbackThis Bearish Bat setup is great for counter-trend traders. Watch closely, the Bat Pattern completed at Point D and retest. Point X is at structure consolidation which is great as it acts as a resistance.
Tech possibly on reboundThe Nasdaq .IXIC has been growing increasingly RSI Divergent which could see the tech sector rebound. If the neckline of the double bottom is crossed around 12000 near term gains can take the index to an inverse Head and Shoulders pattern (green path).
On the other hand if the resistance is strong at the neckline, the descending triangle pattern could play out, but with less intensity as it seems to be reaching the apex.
GBPUSD-Weekly Market Analysis-May22,Wk4Last week if you have gone through my analysis and engaged the market when it tested the buy zone(cyan box), you would have earned 159pips of profits in just the 1st target. If you have missed that setup, you can wait for the next opportunity.
The Bearish Shark Pattern on the 4-hourly chart gives trend traders an opportunity to engage the market. However, I do not like to see consolidation before the completion of any Harmonic Patterns.
I'm waiting for a shorting opportunity at 1.2582 on the Shark Pattern, more than ever a candlestick confirmation is required.
BTC Weekly Chart - MACD + Elder Force Index + RSIIn my analysis, I have used a logarithmic scale on the weekly BTC chart.
First of all, I want you to pay attention to 200 days of Moving Average Exponential it is very close to the current price of BTC at the $26976 level. With all the inflation rate that we got today 8.3% plus 50 basic points monthly raise will continue we can expect that price could test this 200 days EMA.
Also, we can see the fighting between bulls and bears for the $30000 level right now in real-time. In my opinion, it will be good to see a test and after that retest that will create a double bottom technical figure with a shape of W. Of course, bulls will try to defend this level as much as possible. It is a potential place for opening a long position.
Let's discuss the MACD, Elder Force Index and RSI indicators:
On the chart, you can see two ATH - the first one on 12 Apr 2021 ($64956) and the second one that was a little bit higher on 08 Nov 2021 ($68976), but the indicator shows us a bearish divergence that was an urgent call to start closing long position and think about short one. What's more, you can see on the diagram that it shows that the power of acceleration is dropping down and the same result occurred on the Elder Force Index - force was decreasing.
RSI was showing the same exact picture of bearish divergence as MACD. All three of them just powered each other which helps us to build a strong basis that soon will be BTC correction or even a bear trend.
Now is it time to speak about both corrections that happened on 17 May - 19 Jul 2021 and 17 Jan 2022 - 21 Feb 2022, there was bullish divergence on MACD and RSI, but not on the EFI that clearly has shown that we should be careful and watch out for the bull trap and it happens on the $48000 level.
Now the last downtrend movement has unveiled both bullish divergences on MACD and RSI.
At the present time, we have a bullish divergence on the Elder Force Index, but for me, it is not a leading indicator but more a tool that helps approve the other two indicators.
RSI shows us that it moves to the lower zone which indicates that BTC is oversold. I also depicted the Covid dropdown (09 Mar 2020) on the RSI it is on the 33.53 level, actually, at the current level and even deeper downside movement - 28.86 level (10 Dec 2018) when was the bottom of the bear market.
MACD's diagram indicates that two previous downtrend movements were more powerful where whales were selling their bags, otherwise, you can see that diagram became smaller and smaller each time, for me, it shows that price got pressure from the overall world economy and the U.S. itself, but not from the whales that still accumulate more BTC coins.
May the profit be with you!
BITCOIN H1 - 0́́́́́́9/05/2022" Never catch a falling knife " is what I was always been told since the day I first come to trade. In some scenarios, experts are capable to do so with advanced technical analysis and experience. But they are experts, not me. I am still on the journey to explore trading as well as myself.
As the picture above, bitcoin is in an extreme fear stage in which many people are skeptical about the future of bitcoin. Candles show extreme bearish while indicators all mark as Oversell . However, as far as I concern, cause everything is in the extreme stage, the reversal is likely to happen at any time from now with the strength at least half of the current bearish. " Buy on dips - Sell on rallies ", unless you are a scalper , there is no point in making any sell position with an expectation to have RR higher than 1:3. Personally, as a scalper, I will choose to observe for further information like reversal or an tiny uptrend on a smaller timeframe
Remember to manage your risk properly . Do not blindly enter any trade without being mindful of your current emotional status. Do not let the market drive you crazy. Be the warrior of yourself
Good luck
GBPUSD-Weekly Market Analysis-May22,Wk2GBPUSD has hit the Weekly Chart's demand zone. You can wait for a double bottom with RSI Divergence for a buying opportunity.
I would put the first target at 1.2482, that's the price I'll shift stops to entry. I might stretch Target2 to the Bearish Shark Pattern on the 1hourly chart.
#BTC / $BTCDescending Channel Formation in 4H timeframe..!!
RSI Bullish Divergence Still in Play..📈
In Case of Bounce Back from here, Bitcoin Might Retest the 38.8k Resistance.
Things are coming to a head! BTCWe have several patterns converging to this one area. Bullish RSI Divergence on the 4H. PA at horizontal support bouncing inside a large 25% ascending channel. Which way do we go???
KUCOIN (APE): End Of A Bearish TendencyIt seems that the bearish momentum Apecoin is having is losing its momentum, and at any time will reverse. The falling wedge pattern and the divergence also help determine a tendency reversal. KUCOIN:APEUSDT
2 Signs Ethereum's Bearish Tendency Will RevertFor a pretty long time, Ethereum has been in a bearish tendency, but, because of these signs, it will probably revert. The first one is that it is diverging. The RSI is going up despite Ethereum dropping, meaning there is a chance it will revert at any time. The second one is that it's testing the 50 EMA line. Moving Averages with high numbers (50,200, etc) normally show a market's tendency, but, because Ethereum is testing one of those numbers, it potentially means a warning that it will reverse.
CRYPTOCAP:ETH
USDJPY-Weekly Market Analysis-May22,Wk1As early as 14Oct2021, I've said that the USD is going to appreciate for the year 2022. That doesn't mean that you can't head in for any counter-trend move, you just have to do it with caution.
At 131.57, USDJPY will have an AB=CD completion, it is common for traders to look for a countertrend move at its completion.
Conservative traders could wait for a Double Top with RSI Divergence at the level. Trend Traders could wait for the Bullish Shark Pattern at the 4-hourly chart.
GBPUSD-Weekly Market Analysis-May22,Wk1If you compare the Daily Chart of both GBPUSD and EURUSD you would find that they have a very different trading setup.
On the GBPUSD, we have an ABCD Pattern as a counter-trend trading setup. Conservative traders could wait for a pullback to recent support at 1.2447 for a buying opportunity.
$SRM - falling wedge + rsi bullish divergenceSRM printed a bullish rsi divergence on 4h timeframe
I'm waiting for a breakout from the falling wedge pattern to enter a LONG trade targeting at least a 8/9% gain
what do yall think about this one?
BTC - HOURLY - NICE RECOVERY...VERY S HORT TERM ANALYSIS (HOURLY)
Today, we are going to look carefulLy what happened after the validation of the RSI bullish divergence coupled with the double top formation which i mentioned yesterday morning in my previous analysis as a warning ... (see related idea below)
So as you can see, after this validation signal the BTC moved quickly up in a new intraday bull trend, (higher highs and higher lows, confirmed with a convergence on the RSI indicator; please also note the bullish engulfing pattern at the bottom of the chart, which also added value to this nice recovery; note also the successive long white candle which broke at each time important resistance level, begining by the Tenkan-Sen, then the Kijun-Sen, the resistanc of the former downtrend channel and finally the clouds resistance area (39'475-39'713) which increase the upside move towards an intermediate high @ 40'375 then going to the high so far @ 40'800.
The 50% Fibonacci retracement @ 40'590 of the last downside correction (42'979 - 38'202 has also been filled), with the next 61.8% Fib ret @ 41'154, which also match the 4 hours clouds top resistance area and which should also be considered as the next important level to break in order to maintain this upside bias.
NEVERTHELESS, looking at the last couple hours price action, we can see a trend changing from UP to SIDEWAYS, with a RSI also moving in the same way !!
Therefore, this is the first warning signal to consider and respect !
Indeed, no bearish divergence has been confirmed yet, but I would strongly suggest to monitor very closely the price action over the upcoming trading hours.
CONCLUSION :
In order to maintain to come back in the former short term uptrend mood, the BTC should at least recover and hold above the former uptrend support line and make a new high (higher than the previous one @ 40'800
On the downside, an hourly closing below 40'375 (respectively former short term resistance area and now new short term support area !) would be the first warning signal calling for a downside correction towards the following levels :
S1 : 39'800
S2 : 39'500
S3 : 39'194 (VERY THIN HOURLY CLOUDS SUPPORT ZONE !)
As usual monitor and watch closely both shorter time frames (M30, M15 and M5) in putting in place alerts which will help you to detect early signal (s) of validation or invalidation of what I previously mentioned.
Do not forget, of course, to keep an eye, at the DAILY, WEEKLY and MONTHLY picture which will bring you a broad picture and which will remember you that the BTC is still under the influence of a MAJOR DOUBLE TOP FORMATION, with its trigger level @ 28'600, currently in the weekly time frame still in a secondary downtrend move and in the daily picture, still below the clouds...meaning that the countertrend recovery should only be consider, for the time being, as a TACTICAL RECOVERY ONLY IN A BROAD BEAR TREND and NOT AS A STRATEGIC REVERSAL YET.
Have a nice trading day.
IRONMAN8848 - Jean-Pierre Burki
$BTC - just a retest?BTC is currently retesting the 39K support zone
this has been a major level of support during the last days so this must be held if we dont want to enter another downtrend
yesterday's rsi divergence played out as always, bringing the price down this time
The price also fixed below the ichimoku cloud, leaving more space for a downtrend
we can open some good short positions if the 39K support is lost, but let's hope this is just a retest
GDXJ Bull FlagGDXJ is showing some nice bullish divergence in the pennant of a bull flag on the 4hr and daily RSI. Upside is 30%+ and if it breaks down below the lows of the flag it'd be time to get out.
This is obviously dependent on what Gold spot price does. So, if XAU decides to finally use that hidden bullish divergence to head to all-time highs, then gold miners are gonna feast too. Playing the odds.
Bullish Divergence in Euro FuturesBasically the same idea that I posted last week about the Bearish Divergence in $DXY but more time has passed, and it looks even more pronounced in the Euro itself.
Pick your poison: /6E, /M6E, EURUSD are all good Long candidates to play this idea. Another good option could be to short /SFX - which is the Small Exchange's US Dollar Futures contract. If you don't know about The Small Exchange, I'd highly recommend looking into their products.
community.thesmallexchange.com
That is a strong trend line!!hello everyone
Last week candle was a big red one for almost 80% of cryptocurrencies, and for the last couple of days we saw the same behavior until 12th of Apr. Since then we have been moving in a channel in between resistance level of 18.30$ & support level of 17$( it was mostly the trend line).
For now we have divergence in RSI in 4 hours ,so the price may fail to break the resistance level and go back to our support level (or trend line) or worst ....
AUD/JPY
Hey guys, we have had one of the biggest rallies in AUD/JPY ever 11 weeks of green. It is in major overbought territory on the RSI on the weekly and negative divergence on the daily with a bearish consolidation pattern and possibly a breakout to the downside which might confirm today. IF it does confirm I will enter a short position target first red line then lower to burn these over bought signals out.
pre good risk to reward options
EURUSD - Bullish Shark checkbackIf you are looking for a reliable setup for a countertrend move, we have spotted a Bullish Shark Pattern that has checked back.
If you are looking to stretch the target to the daily chart, Bearish Bat Pattern, I find that could be far-fetched for the time being, but I leave that decision to you.
🚀🚀🚀 XRP what's next? Very large VOLUMES! 🚀🚀🚀Hello everyone,
Unfortunately, we haven't seen a breakout of the trend line, what next?
There are several scenarios. I personally took a position at $ 0.69 on a LONG with a stop loss below the local low. I'm counting on another breakthrough attempt.
The main resistances are marked with a dashed green line. The close of the candle below the red line (resistance) will mark a descent to the last key position for XRP $ 0.55.
This week you can see large VOLUMES, which positively indicates a rebound in the price.
We also have divergences on the RSI. Increasingly higher, lows on the chart and decreasing ones on the indicator indicate a bearish.
Higher lows and vice versa on the RSI speak of a bullish move. So we have an unclear situation.
One thing is that we stopped at substantial support. Breaking it will create a medium-term doubletop, and then only a continuation of declines.
From the fresh news regarding the SEC vs XRP case.
Ripple took another victory over the Securities Commission.
The judge rejected another SEC request that was intentionally delaying the end of the case.
As a result, the re-introduction of XRP to the market may be faster than expected.
Comment and like,
Regards
BTC, ETH & SPX at SMA200 with hidden bullish divergenceBitcoin, Ethereum and S&P500 at SMA200 on 4h chart with hidden bullish divergence (blue dot line).
Expect a price recovery soon.
Gold with very low volatility - maybe further sideways action before new direction gets clear.
What do you think?
Drop me a nice comment if you'd like me to analyze any other cryptocurrency.
*not financial advice
do your own research before investing
