BTC swing analysis. July - AugHey traders, just an update to this rather volatile trading pair. I do apologize for not being active enough to bring out charts on a frequency to keep up with the market momentum, it's really been quite a wild ride lately, especially on the 4h and below. With that said, I'd like to focus the attention on a controversial topic of BTC and it's possible/likely wicking of the teens region.
This chart is actually really simple, it's built off the same things all of my charts are: S/R, trendlines, a few spiderlines that I added that aren't really integrated into the TA but rather supporting factors to existing trendlines and support regions, and finally the Gann Fan which is nice to accompany a strong trendline and gives a good visual presence of boundaries if it's done accurately. To add, I drew a path of *roughly* where I expect the buyers and sellers to lead BTC, and hastily estimated max pain regions.
I also added the timeline at which is about the elapsed period before closing the gap between our current zone and the floor, which conveniently happens to coincide with the start of a new month candle -which I have a strong suspicion will be a nice solid green- (something we haven't seen in a while). right now, it's pretty much whales trading BTC back and forth, and the traders caught in the middle either making or losing money, there's *some* investors buying in; but the general consensus doesn't want to invest in BTC at 30k+ they just want to trade it at 30k+, and I think that will remain the issue until we hit lower lows. FYI I mostly trade alts, so if anyone has any requests, I don't mind making a chart, as long as it's not a sh-tcoin ;)
Short-long
Gold: Waiting for better Long PositionGOLD is consolidating inside the Bearish Pennant.
Expecting to finish the wave count at around 1789/ 1792 and continue down to 1753/1755.
Hoping to find a good support there, if not 1730-1740 area is next big support off the main Trend line.
This is my view based on what I have observed as of current. All constructive comments are welcome.
Disclaimer: This is not a financial/ Trading advice.
EUR/CAD Analysis Welcome back! Please support this idea with a LIKE if you find it useful.
*** EUR/CAD - Price could potentially break weekly support, or retest previous resistance for a continuation to the downside. We will keep our eyes on the highlighted zones and weekly support, and align our entry criteria rules for a nice short or long opportunity. Be sure to follow your entry criteria rules. If you trade KiSS 2.0, keep your eyes on major technical levels for the best potential trades.
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BITFINEX SHORTS HAVEN'T BEEN THIS HIGH SINCE 2019 (bearish) BTCGood morning traders,
The last time bitfinex shorts we're this high was late June 2019.
We're currently sitting just above support $30,000 and have seen a shooting start on the BTCUSD SHORTS chart which may indicate a messy weekend and support lost.
Support levels below:
1) $28,888
2) $23,888
3) $19,999
4) $14,000
5) $12,500
6) $10,500
7) $9650
Not saying we hit all support levels but you should keep them in the back of your mind in case we see an extended bear market and head down to the $20,000's and $10,000's.
AUSSIES: Advance noticeIt's not quite a head and shoulders just yet.
This is about watching for potential situations and preparing for them.
As I showed in other charts, sometimes we can get a a second right shoulder in ultra-bullish markets but there is no law on what can happen in these markets.
Readiness is (almost) everything.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
EURUSD Incoming Short SetupWe are now short biased on EURUSD. The dollar roared last week and if you didn't catch the last trade set up you missed out big! (shoulda followed me)
But fear not, this weeks major move is starting to shape up. With no pressing news this week the trend should continue down. This setup as shown itself as a possibility.
A small head and shoulders has appeared on the 4hr time frame and with a break of the neckline now you may look for buys on the 15min/1hour only. This should lead into at retest of the 1.20 area where sellers are sure to come in strong. There is a bit of imbalance slightly above at 1.205 so do not fear if we get a quick run up to that area. Set your stop losses far out of that range and manage risk accordingly.
<3 Happy trading friends.
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Bitcoin possible scenarios for the mid termDescription and reason are mentioned in the chart.
This explanation has been made by looking at the past and technical analysis.
The probability of a downtrend is stronger.
But the possibility of an uptrend has also been drawn because the fundamentals have already affected the price.
BNB Pay Attention!Hello Community!
Let's take a look at BNB on the Daily TF. It is at a crucial point right now and I believe the strength or weakness it shows in the next 2 days will determine the direction the market will go. If it breaks below the white line we can see it head towards the orange line for the next support. If it breaks above the greenish line that will be a clear show of strength based on this TF and I would be looking to go long. The Crypto Market follows BTC movements so at the end of the day it comes down to what project you have faith in the most. The main difference is some coins will have stronger movements (Bullish or Bearish) based on how BTC moves. If entering a trade don't forget to use a stop loss. Don't trade with what you're not willing to lose.
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This is not financial advice.
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Simplicity Wins
8% DUMP INCOMING? BULLISH STRUCTURE BROKEN (measured move) BTCHello traders,
Bitcoin has failed to reclaim the $40,000 level and rejected pretty violently and we're now half way in this range ($30,000 - $40,000) currently $35,500 zone and still weak.
$33,888 is likely the first stop once we start to free fall.
GLD ForcastThis most likely course for gold to take over the next week. I believe GLD will fill the gap, test TL, and then be rejected and break down lower. Scalping up to TL, and then Short will be the positions i will be looking to take. I dont believe that Gold will be a safe bet in the event that we see a 5-10% correction in the overall market.