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Bitcoin: has the pullback finished?Today's focus: BTCUSD Pattern – failed high? Support – 63,140 Resistance – 68,290 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the BTCUSD daily. After yesterday's fightback rally, we have run over a few ideas around BTCUSD. Will we see the current selloff continue despite a firm move from buyers yesterday? Will we see buyers shake off a push by sellers and follow up on yesterday's buying with further gains? Good trading.
EIGHTCAP:BTCUSD
by Eightcap
GBP/USD Trade setup (Short Position) Potential trade setup on the 1-hour timeframe for GU. Price action is creating a nice "expanding bearish triangle" pattern which could make another retest towards the price level (1.24000) before continuing in the sellers direction. Going back to April 10th, you will notice the support that was created multiple times before price created indecision candles closing above & below that support zone. Finally, both EMA's are confirming sellers momentum is slowly shifting over to a bearish selloff. Updates will be posted when price enters our area of interest. Stay tuned.
by GeoRiches
USD/CHF Possible PeakWe are are pushing up into new yearly highs. Price has nibbled through a few times from what it looks like from the three push pattern. It was good for a 150 pip drop. Sellers who took their profits are good. What about the sellers who anticipated a further drop and held on? They are in serious heat right now and trailing/break even stops have been hit. Now we have another pattern presenting a selloff even though we are witnessing previous sellers taking heat. These sellers will get let out. But not soon. Damage have to be done first. It could take days or weeks. Very rarely we screw up that bad to be right back into profit the next day or two. Also we still have sellers from end of day pop ups who haven't taken much heat. They guys will be targeted in the coming days. Then breakout buyers will be rewarded and taken sideways again. FX:USDCHF
Short
by PEAKFINDER
Possible bottom for NZD/USDThis is a similar setup to GBP/USD. I wouldn't expect a deep dig underneath the buyzone.Maybe accumulation and a stops hit below it before reversing. When I'm calling tops and bottoms, that don't mean that price will trend up or down for eternity from there. These are setups I'm confident with to add size into or have a wider stop. I don't know what the market will do but from backtesting, when these levels are generated, there is usually a reversal that follows.Sometimes it's insntantly, sometimes it's over the course of days.I wouldn't enter trades on them especially the first 1-3 levels.
Long
by PEAKFINDER
1
BUYERS vs. SELLERSHello everyone! Who are the stronger sellers or buyers right now? The one who finds out the answer will be able to earn a lot. Over time, one side weakens, the other gains strength. It is not easy to catch this moment, but there are several methods for determining a possible change in the dominant force in the market. Japanese candles, namely their bodies, can help us with this. The body shows how strong or weak one or the other side is. The body shows whether buyers are losing strength and whether sellers are gaining strength. Are buyers or sellers strong? By looking at a particular candle and its body, we can understand what was happening in the market in a given period of time. If we see a full-bodied green candle that has no shadows, then we can say with confidence that buyers are winning. The point is that buyers were able to push the price up after the opening and until the closing, which sellers could not resist. On the other hand, if we see a full-bodied candle of red color, we can say that the sellers won. Without much resistance, sellers pushed the price down from the beginning to the end and were able to close at the very bottom of the candle. Full–bodied candles speak of enormous strength, they can appear confirming the trend or starting it, in any case - this is a strong sign. Still strong, but… If you see a green candle with a long body and small, short shadows on the chart, then you can say that buyers dominate the market. But what are these shadows? These shadows remind us that sellers, although losing heavily, still did not give up. It's the same with candles that have long red bodies and short shadows. Sellers are strong, but buyers are still here, as the shadows remind us. Seeing such shadows, you should not be afraid and open positions in the opposite direction, no. It's just a reminder. The fight is getting harder. A candle with a small green body, which is located at the top, shows us that buyers have taken over the market, but the victory turned out to be very difficult. The long shadow under the body indicates to us the rage of the sellers, who dragged the price down for a very long time, but still lost in the end. Maybe it was the last impulse of buyers? This fight was almost on an equal footing, but the victory remained with the buyers. In such situations, you can ask the question - Will there be a U-turn? Red body on top, with a long shadow. The sellers won here, but the buyers fought with dignity. Depending on the context, this figure can serve as a signal of an imminent reversal. After all, sellers were able to push the price very deep, but buyers did not give them a foothold there. The last push? The short body is green, and above it is a long shadow. The victory remained with the buyers, but was it easy? No. Perhaps it was the last rush of buyers, after which there is no strength to fight anymore. Maybe the price will not turn right away, because the buyers have won and they still have strength, but their strength is clearly running out. The same is the case with candles, whose bodies are red, indicating the victory of sellers, but long shadows over the body indicate the strength of buyers. The forces of buyers were able to push the price, but not to fix it. This signal is even more bearish, because the price closed below the opening. Conclusion Each candle is important, but the context is more important. Candles help to get the first signals if you are able to understand them correctly. The shadows of candles are the story of a struggle that usually escapes the eye, but at the same time carries a lot of information. Be careful and don't stop learning. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDEducation
by Lingrid
10
AAVE Price too BEARISHThe Aave price analysis shows a bearish trend today The resistance for AAVE/USD is present at $73.01 Support for AAVE/USD is found at $71.33 The Aave price analysis is directing that the cryptocurrency has undergone loss once again during the last 24 hours. That is because the bears are once again powering through after a small bullish interruption. The bears have caused a decrease in the price up to the $72.25 level and have been able to retain their position as the leading party. More sellers are causing the price to downgrade further and have defeated the buyers in their attempt at revival. The Aave prices have found some support around $71.33 but it remains to be seen if this will be enough to turn the tide in favor of the bulls. For now, the bears are in control of the Aave markets and may continue to push prices lower in the near term. Final appraisal of the Ave price Aave price analysis indicates that today has also seen bearish behavior. The price levels have decreased to $72.25; this is a considerable loss for the market value of cryptocurrencies. Although the bulls attempted to recover in the most recent hours, their efforts were in vain as the price fell today. Only if the support at the $71.33 level is maintained can price levels be kept stable.
KRAKEN:AAVEUSDLong
by IPatrice
Where and when are our setups more probable?Setup probability drastically increases when we sell in premium (above 50% of a marked range) and buy in discount (below 50% of a marked range) . You are made to believe that 0.38 fib is magical and mesmerising since it repeats everywhere in nature and in human interactions but It's exactly where stop hunts actually occur. We want to engage from a different angle and follow the logic of price action. Institutions engage in a different way. If they want to achieve a higher high or a lower low that's going to happen from a premium or a discount almost all the time. Go see your desired chart and recognise the pattern and you will grasp a very important element of how price action really works
FX:NAS100Education
by PabloSMC
Bitcoin (BTC) Price Prediction: BTC/USD Holds above $39K SupportOn February 17, the bears succeeded in breaking below the $41,800 support as BTC price attempts a rebound. The breakdown signals the resumption of a downtrend. In retrospect, the largest cryptocurrency has been range-bound between $41,800 and $45,000 price levels. The bulls made several attempts but failed to break the $45,000 overhead resistance. Sellers have regained temporal control of prices as BTC/USD declines. Resistance Levels: $70,000, $75,000, $80,000 Support Levels: $50,000, $45,000, $40,000
CRYPTOCAP:BTCLong
by Jessica86896