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Bitcoin is ready for a +50% pumpWelcome! I´ll keep this short but sweet, if you want full explanation on why I think we are ready for a big rally visit my Twitter, where I shit post a couple of times per day. twitter.com With that being said, key points: 1. underlying market dynamics - sentiment is universally bearish, everyone and their pet goldfish wants to short this thing, what does the market do? Well, usually it wipes them out of course - bitmex funding is negative, shorts are paying to hold their positions while PA is going sideways to up - from an economic standpoint this is irrational and will sooner or later result in shorts covering their positions 2. price action - we are moving inside a descending channel, which is a bullish structure that typically breaks to the upside - daily stochs are about to cross up and, more importantly, likely break the trendline - my moving averages are in a bullish posturing - there is plenty of reasons on why I think this is going up but, like I said, if you want more just visit my Twitter, I only do the basics here since I´m a lazy bum Price targets? - I feel very strongly that we will test at least the 200MA (55% probability) - a measured move of the descending triangle puts us at 11.3k-ish region (30% probability) - the third target is actually mind-blowing and while TA shows a way to reach it I give it a very low probability and won´t mention it just yet Do remember though, overall we are in a downtrend and every pump is by default a "sell the rally" until proven otherwise. Take care.
COINBASE:BTCUSDLong
by Mansasuma
2
BTCUSD Inverse Head and Shoulders!| Staunched Resistance!Hello Traders! Quick update on bitcoin, we have a potential inverse head and shoulders coming to fruition, Bitcoin needs to break its neckline which is a staunched resistance. Points to consider, - Clear resistance/ neck line - Stochastics projected upwards - RSI in upper region - EMA’s yet to meet price - Volume increasing The inverse head and shoulders formation is a bullish pattern, which is confirmed by a break of its neck line. Bitcoin right now has a stanched neckline/ resistant level that has been tested 5 times. The stochastics right now is projected upwards, can trade in this area for an extended period of time. RSI is also in upper region but has not officially entered into overbought territory. The EMA’s are yet to meet price, it needs to hold Bitcoin support when it approaches the resistance level. Bull volume has been increasing, which is healthy in this pattern, it needs to sustain in order to successfully break resistance… The technical target of this inverse head and shoulders is approximately at $8180 mark. What are your thoughts on these recent developments? Please leave a like and comment! :)
BYBIT:BTCUSD.PLong
by AzizKhanZamani
ICXBTC Fractals | Potential Bottom Formation! Hello Traders, Today’s chart update will be on ICXBTC, where potential fractals are playing out. We have local resistance formed, followed by a dump retracing back to the .236 Fibonacci level and dumping again. ICX may be on the verge of dumping again according to the fractals however we do see bear impulses declining significantly on each dump, could this be the bottom forming? Points to consider - Trend bearish on daily - Resistance at the .50 Fibonacci level - New trend line acting as local support - Stochs showing downwards projection - RSI testing trend line - EMA’s natural at current time - Seller getting exhausted - Volume is declining ICX is in an interesting position on the chart where there are indictors pointing towards a bottom formation… The daily trend needs to put in higher lows to change the trend which can be achieved through breaking the .50 Fibonacci level, which is currently being test right now. We have a new trend line being established. This needs to hold otherwise price will be bearish if broken, putting emphasis on the fractals coming to fruition. The RSI is currently testing its trend line, a hold and respect of this trend line will greatly increase the probability of this being the bottom. The EMA’s is neutral at currently give time, price is trading within it as we don’t have a clear cross and direction. Most noticeably, IMO, is that these fractals are losing steam as the bear impulses are getting smaller. If price holds and respects the trend line and puts in a higher low,that would be really bullish, a potential local bottom will be in place, however this needs to be confirmed with having an increase in bull volume… What are your thoughts? Please leave a like and comment
Long
by AzizKhanZamani
Bitcoin Calm Before The Storm! Bulls vs Bears !Hello Traders, Welcome back to another update, this time on BTC, The Calm Before The Storm! Bitcoin has been trading within a very tight range coming into its apex within the macro descending triangle formation. Usually this is a bearish formation, however coming from a very strong impulse move up, we can literally break either direction… Points to consider at current given time - Price approaching apex within descending triangle - Volume decreasing noticeably - Major support at $9300 - $9200 area (green zone) - Major resistance at $11,400 to $11,600 area, also in confluence with .50 Fibonacci - EMA’s currently neutral - RSI itself also approaching apex - Stochs neutral and testing its own resistance It is quite obvious that the volatility will be coming back into Bitcoin after trading in this range for some time now. This structure has been putting in lower highs over the past couple months after a crazy impulse move up from the bear market earlier this year. Bitcoin has also established a strong base of support, which has been tested multiple times, we must remember, the more times a level is tested the more it’s prone to break… Bitcoin right now is testing a smaller uptrend within the descending triangle where it is bound to break. We have a local resistance that needs to break, if not then this can be a potential triple top. To test this level, Bitcoin would have broken the major downwards trending line, changing the macro trend and putting a higher low, this need to be confirmed with increasing bull volume. The .50 Fibonacci is a strong resistance area as Bitcoin has had multiple rejections, break this area (Red Zone), will put in a higher high in the macro trend, which is quite bullish. If Bitcoin fails to break bullish from current apex, then the probability of testing support will be much greater, this time it’s more likely to give way as support has been tested multiple times. A break from this area will be quite bearish as this will confirm yet another macro lower high and also hold the descending formation true. EMA’s are quite neutral at current given time as price is trading within in, we can’t really establish if its given price any support or resistance… The RSI is looking interesting, we can see that its respecting its downwards trend, coming closer to its apex and with a break in either direction can determine which way Bitcoin will break. Similarly, the Stochastics are neutral, however a break from or a rejection from its local resistance will also help determine which way bitcoin breaks... Overall, it’s just a matter of time for an impulsive move to come to fruition, Bitcoin has been trading range bounce for a while now coming into its major apex, and we can expect a break within the next couple days! What are your thoughts on Bitcoin price action? Will it break bullish or bearish? Please leave a like and comment And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
BYBIT:BTCUSD.P
by AzizKhanZamani
BTCUSD Hourly Inverse Head and Shoulders! Hello Traders!, Update on recent BTC developments!, New potential formations on the chart, Hourly Inverse Head and Shoulders! Points to consider, - Potential Inverse head and shoulders - Trend is currently consolidating - .618 Fibonacci acted as support - Price testing neckline - Potential Triple top if price meets calculated target - RSI respecting up trend - Stochs showing upwards momentum - VPVR showing decreasing volume of transactions - EMA’s giving price support Current price action is showing us that bitcoin may be developing an Inverse Head and Shoulders pattern, valid only if price breaks neckline! There are signs in the chart that increases the probabilities of this being and actual Inverse H&S, the trend is currently consolidating after it was found with support from the .618 Fibonacci retracement zone. Price retraced back to the neck line zone as the EMA’s come into play by giving Bitcoin support… The RSI is quite bullish as it is respecting it’s upwards trend. Furthermore, the Stochastics is showing upwards momentum as price comes into the neckline… This formation is only valid if bitcoin breaks the neck line, which has a calculated target near the next local top. The breakout needs to be confirmed with above average volume… Keep in mind that the target could post a potential triple top if bitcoin decides to reverse, so it’s a good area to take profits if this does play out! What are your thoughts on BTC’s recent developments? Is this a potential inverse head and shoulder? Please leave a like a comment And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
BITFINEX:BTCUSDLong
by AzizKhanZamani
BTCUSD Falling Wedge Breakout But Low Volume! Hello Traders, Update on Bitcoin’s recent developments, Points to consider, - Trend bullish short term - Price testing resistance (around $10440 Zone) - RSI respecting upwards trend line - Stochs showing downwards momentum - EMA providing support but looks weak - Volume below average, even after breakout of falling wedge Bitcoin was trading in a falling wedge pattern that recently broke bullish; the calculated target sits at around $10,604.00 The trend is bullish in the short term as bitcoin has been respecting the upwards trend line that is coming into local resistance, red zone, which is in confluence with the .382 Fibonacci Zone. This area is of strong resistance as previous price action has been rejected multiple times… The RSI is respecting the upwards trend line, if we see a break of this line, then bitcoin is more probable to return back to the overall trend. This would make a lot of sense as we see the Stochastics showing clear downwards momentum… The EMA’s are holding price as support, however does look quite weak as the resistance above is to strong at current given time. The volume is below average signifying that bitcoin may not reach the calculated target of the falling wedge. We need strong notable volume to break through theses strong resistance zones (Red Areas) Bitcoin is more probable to retrace back to the trend line due to the lack of volume and the strong resistance lurking above… What are your thoughts? Will Bitcoin meet target or retrace from current point? Please leave a like and comment And remember, “If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
COINBASE:BTCUSDShort
by AzizKhanZamani
BTCUSD INSIDE BARS!Hello Traders! Another quick update on BTC Points to consider - Price bounced from support - Daily inside bars forming - Bulls broke EMA’s - Potential HL if price retraces from here - Volume climax candle on daily Bitcoin bulls have pushed price up successfully from local support right into local resistance. Price is currently forming INSIDE bars which are yet to break bearish and or bullish. A break bullish from this area can totally negate this descending triangle formation and will allow bitcoin to put in a higher high… A break bearish will confirm this next Higher Low and further prove the hypothesis of this being a descending triangle, a very bearish formation. Bitcoin has two major resistance levels (red zones) that bulls need to break if we are headed to yearly highs, this has to be backed up by high bull volume otherwise we may witness a bull trap and ultimately head back to yearly lows… What are your thoughts on Bitcoins immediate price action? Please leave a like and comment And remember, Markets change their behavior faster than people can change their minds… That is why intraday trading is so difficult.’’ – Unknown
BYBIT:BTCUSD.P
by AzizKhanZamani
BCHUSD Head and Shoulders! Hello Traders! Welcome to another update, Today’s analysis will be on BCHUSD, a potential head and shoulders! Points to consider, - Overall up trend, putting in higher lows - Price currently testing support and potential neckline - RSI coming into tightening apex - Stoch in neutral area - EMA’s acting as resistance at current given time - Volume tapering off on right shoulder - The .50 and .618 Fibonacci has acted as resistance to price BCHUSD may well be forming a head and shoulders pattern that could be on the verge of breaking bearish. Price is currently testing the upwards support line which is in confluence with the .382 Fibonacci and local support zone. The RSI is in a equilibrium, coming into its apex, it will break in the near future, whilst the stochs currently neutral, momentum could go either way… EMA’s are currently giving price strong resistance at current given time; there is so much confluence in this area proving that a break is imminent! A break bullish will push price to retest previous resistance zones, which are the, .5 and .618 Fibonacci zones respectively. A break bearish could see BCHUSD tank to and below yearly lows… What are your thoughts, will BCHUSD head and shoulders pattern come to fruition? Please leave a like and comment And remember, “Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.”Yvan Byeajee
COINBASE:BCHUSDShort
by AzizKhanZamani
BCHUSD Inverse Head and Shoulders! Hello Traders Today's chart will be an update on BCHUSD!, Potential inverse head and shoulder! Points to consider - Potential Inverse head and shoulders - Volume declining on right shoulder - Calculated target would be a potential double bottom - VPVR showing low volume of transactions after support - EMA’s acting as resistance - RSI putting in lower highs - Next potential support will be the .618 Fibonacci BCHUSD may potentially be putting in an inverse head and shoulders which is a very common bearish formation. Confirmation will be a break of the neck line which price is testing right now… Volume has clearly declined on the right shoulder and with EMA’s providing resistance to price, BCH is probable of breaking its Neck Line. The calculated target of this Inverse head and shoulder will potentially retest yearly lows. This makes clear sense as there is low volume of transactions according to VPVR after the Neck Line, bears could easily plummet BCH. RSI is putting in clear lower highs, showing us a potential bearish divergence; again giving bears an upper edge What are your thoughts? Will this be the beginning of capitulation for BCHUSD and all other ALTS? Please leave a like and comment And remember, “All you need is one pattern to make a living.” – Linda Raschke
COINBASE:BCHUSDShort
by AzizKhanZamani
1
BTC breakout incoming!Hello Traders, Today’s chart will be an update on BTC’s recent price developments on the hourly chart Points to consider, - Support is at the .618 Fibonacci - Resistance is at the .50 Fibonacci - RSI is respecting the trend line - EMA’s acting as resistance but looks weak - Volume below average - Equilibrium playing out BTC is approaching decision time on the smaller timeframe, which will dictate where the overall trend is headed. Price has respected the .618 Fibonacci multiple times, with the downwards sloping trend line proving resistance; price is forced into a smaller equilibrium. Volume is way below average and with the EMA’s giving price resistance we are bound to see a break in price. The overall trend is still quite bearish with consecutive higher lows, however we could see a potential macro higher high if price where to break bullish… What are your thoughts? Please leave a like and comment, And remember ‘’No one strategy is correct all the time’’.- John Paulson
BYBIT:BTCUSD.P
by AzizKhanZamani
BTCUSD Key Levels to Watch!Hello Traders, Today's chart will be an update on BTC's recent developments, Points to consider, - Consolidation phase with an equilibrium - Major support is around the green zone - Major resistance is around the red zone - EMA's acting as resistance to price - RSI Support line is being tested - Stochs neutral - Volume declining - Fear and Greed index is at 33% (extreme fear) BTC at given time is consolidating but price is coming into an apex where a big move is expected... Strong ceiling for price as EMA's is in confluence with the resistant area (Red Zone). If price breaks this resistance, then we will have a macro higher high in the trend,this is quite bullish, however, if price breaks key support zone, then BTC is in for a major correction!... what are your thoughts? Will BTC Break this resistance or will it tank through support? Please leave a like and comment :) and remember "Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets." - Michael Carr
BYBIT:BTCUSD.P
by AzizKhanZamani
NEOBTC Potential Ascending TriangleHello Traders, Welcome back to another chart, today's chart will be on NEO, formerly known as Ant-Shares, surely a re-brand back? Points to consider, - Price testing resistance zone (Red Zone - .382 Fibonacci Zone) - RSI bouncing of overbought region - Stochs showing downwards momentum - EMA's action as support for price at current given time - Volume is near to none --> Below average - VPVR is showing low volume of transactions between current resistant zones NEO could be forming a potential Ascending Triangle which is technically a bullish formation, however this needs to be confirmed with a third touch on the support line. NEO is more probable to retrace from this zone as the RSI is coming of overbought regions, with the stoch's showing downwards momentum, a retracement to the support line is highly probable. If and when NEO breaks out of this current resistant zone, we may see a retest of the .618 Fibonacci Zone quickly as VPVR is showing significantly low volume of transactions between the two zones.. What are your thoughts? Please leave a like a comment and remember "There's no such things as a free lunch"- Milton Friedman
Long
by AzizKhanZamani
BTCUSD Bear flag Breakout, Bounce or reach target?Hello traders, Another day Another chart, Today's chart will be an update on BTC's recent price action Points to consider - Break was bearish with above average volume confirming bear flag - Another potential higher low in place - .618 Fibanacci Zone acted as resistance - Price currently testing support which is in confluence with the .786 Fibonnaci Zone - Low volume of transactions after the current support zone, VPVR - EMA's giving price resistance - RSI oversold but not as severely - Volume is average at given time BTC is testing a very high technical area right now, proceeding its over extended bear flag. The calculated target of this bear flag will be around the $9,100 Zone however the current price action after the bear flag suggests that BTC may have a bounce, being more probable. The current Support zone is in confluence with a support line coming up, this line is also in confluence with the .786 Fibonacci Zone proving how strong this area is for the bulls. When zoomed in on the 1 hour chart, we can see a clear bullish divergence, proving its significance. If bulls do not hold this area then the likely target of $9,100 is more probable as there is not much support until the next leg down and this being in confluence with the calculated target makes sense... What are your thoughts, will BTC break support or have a bounce from this area? Please leave a like and comment, and remember, “Don't blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah
BITMEX:BTCUSD.P
by AzizKhanZamani
XRPBTC Potential Bounce!Hello Traders, Today's chart will be on XRP's current price action, Points to consider - Overall trend is bearish - Major structural support broken - RSI coming out of oversold conditions - Both EMA's acting as resistance - Below average volume - Potential bullish divergence - VPVR showing low volume of transaction at current area and resistance The probability of XRP to have a bounce from this area is more favorable as we can see a potential bullish divergence forming, where the RSI is putting in higher highs and the price is putting in lower highs. It is noticeable that the price action is leaning into a wedge formation, with support (green zone) being in confluence helps with the bounce. The current volume is below average and tapering of rapidly which signify a move is about to happen in the near future... what are your thoughts ? please leave a like and comment and remember, "Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment''' - Joe Vidich
Long
by AzizKhanZamani
BTCUSD Over Sold Bounce Incoming!Hello Traders, Update on BTC's recent developments, Points to consider - Still in an upwards trend on the 4 hour - Currently testing support which is in confluence with the .618 Fibonacci line - RSI severely oversold, we need to see it break this resistance for a pop back to neutral territory - Stoch starting to show signs of upwards momentum - Bull Volume bar close after several bear closes - Visibly increased volume - EMA's have not caught up with price but, we need to see a cross over otherwise still bearish BTC is looking like its due for a small bounce in the near future before a continued roll back to retest previous support of around $8900. RSI and Stochs are starting to show signs of reversing after reaching ridiculous low historic levels. We have had a sharp fall in price, its is only natural for the market to experience a relief rally, which may top out at the .50 Fibonacci line, now acting as the next possible resistance zone... What are your thoughts ? Please leave a like and comment, and remember, “It does not matter how slowly you go as long as you do not stop.” - Confucius
BYBIT:BTCUSD.PLong
by AzizKhanZamani
BNBUSDT Bullish Breakout Continuation Hello Traders, Update on BNB's recent price developments, Points to consider - Still respecting the 4 hr uptrend when zoomed out - Broke key resistance (Green Zone), now turned support - Price initially rejected at $31.80 area and retraced to the .618 Fibonacci line - RSI respecting up trend - Volume slightly declining BNB needs to break current resistance (Red Zone) before retesting the stronger upper resistance which is at the $31.80 area for a continuation of the bullish break. The Fib extensions show clear targets if price were to break resistance, the first target is in confluence with the major resistance and is a key area for the overall bullish trend... what are your thoughts ? and remember, “Money is made by sitting, not trading.” - Jesse Livermore
Long
by AzizKhanZamani