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Bitcoin Price Action AnalysisHello, traders! The first target $37475 is going to be reached. The price broke through the small trend channel from the previous analysis. Now the price formed the big ascending channel. If the price is able to break through the channel's centraline and find support above the first target, the next target is $39900. In the opposite case the price will bounce off centraline and can return back to the upward trendline ($35300 level). DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
3
Warning! BTC Potential Price LevelsHello, dear subscribers! The Bitcoin dumped today significantly. Today we are going to estimate global targets for the pessimistic scenario for the Bitcoin. First of all take a look at the all bullish rally since October 2020. We can notice that during corrections the price always found support at the 30-day EMA. Now the price clearly broke this line down. This is the first bearish sign. The big symmetric triangle which started to form at the beginning of January 2020 was broken down today with a huge red candle. Now let's consider the potential levels for the BTC. The monthly CPR level ($33000) was broken today. The next strong support is the $33000 level because the price found multiple rejection here, also it coincides with 1.61 global Fibonacci retracement level since 2017 year bull run. If the price is able to break this level down the next target is monthly CPR ($25300). The last dump level is the symmetric triangle's breakout target which corresponds to it's height. This level is $21400 which exactly coincides with monthly S1 level. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
BTCUSD 7.6/1 RRCOINBASE:BTCUSD looks about ready to move back up. For many investors these low swings have been a blessing in disguise and there is no drop that isn't quickly met with a sharp rally. Bitcoin has been searching for a floor, slowly making new lows but 34k has been manipulated heavily and there seems to be no reason that bitcoin couldn't crack it, but I do not believe there is enough supply in the market for it to achieve such a feat again. I could see it rapidly making its way back up to 35k and potentially clawing back up to 40k if the conditions are right.
BITSTAMP:BTCUSDLong
by crawfordpaul
2
Bitcoin Trendline and Bollinger Band target settingThis post is an instance where solid charting takes presidency over all other indicators. The chart shows three instances where the bitcoin price action tested previous resistance as support prior to the bull market beginning. The move shakes out the weak hands and puts bitcoin into strong hands that are willing to buy fantastic dips while others drop after being burned. The trendlines are dynamic resistance, they change over time. The bollinger band is likewise a dynamic resistance. Other examples would be the volume profile or moving averages (not shown). Clearly some of the best long term buying opportunities of bitcoin have been when price action is below the lower limit of the bollinger band. Other great times to buy are when price action is testing previous resistance as support. The purple, black and orange arrows show those buying opportunities and the red arrow shows a support line that is currently unbroken and tested as resistance. If you see weekly candles below that line and finding resistance rather than support it is sign that a hellish dump is close. The price targets so targets based on the trendline and the bollingerband. The most bullish target would be a test of the bollingerband baseline which would signal an immenant bull run, as finding support on the baseline was a hallmark of the 2016-2018 bull market. There is the baseline and the lower limit and both would be technical places to invest. The orange price target is based on the trendline being confirmed as support. The red target is based on the longest term supporting we have and would require the price actin to lance through the bollinger band, wich is, as I said, historically a great buying opportunity. And just because have a pic of the massive amount of bullish divergence on BTCUSD. It would just take one teeny weenie dip to the baseline or lower limit to fix that. The chart is on the monthly with the weekly bollingerband thanks to the BB MTF.
BITSTAMP:BTCUSDShort
by This_Guhy
4
$265 A Share Before ThanksgivingExpect ROKU to hit $265 a share before Thanksgiving since it has fallen below support on the 15min chart. Currently during the last hour of trading a new resistance will be tested but I believe it will fail and we are in the start of a bear cycle. I have it hitting $265 tomorrow and that is a conservative number. Could go lower, tomorrow I will decide if I sell out or hold another week. I would like to see it fall below support on a higher scale. This is a great start though and could continue for quite some time. Comment your thoughts below, should I hold past Thanksgiving? Or should I take a small profit and run? I respond to every users comment and love hearing from you guys so don't be shy. Also smash the like button if you are a ROKU short.
NASDAQ:ROKUShort
by Myantman101
6
Why having 2 TP targets is good Hello, in this educational post I will be talking about why having 2 or 3 TP targets is good. As an example, I will be using one of the trades I have running currently on EURUSD. My initial target for this short position is to hit the lowest point of yesterday and it was going well until a pullback happened which is currently happening right now and probably reaching my entry point. If I didn't have more than 1 TP target, this trade could potentially be a loss or a breakeven but since I had another target that is closer to my entry point, I could close half of my position, move my SL to breakeven, and secure some profit. On the graph, you can see that I secured 33.5 pips of profit by closing half of my position so that if the price reverses, I would still gain some profit off of this trade and it did eventually reversed. A rule of thumb I normally use for my first TP is half of my final target or a closer/weaker support/resistance level. I do not recommend having more than 2 or 3 targets if you are relatively new to trading. *This only applies to Intraday Trading, Scalp, and Short Swing Trades.* To conclude all my points: 1. Having another TP before your final target is good to secure profits in cases it reverses. 2. Move to SL to breakeven once your first target is reached so if it reverses, you are guaranteed profit. 3. A rule of thumb I normally use for my first TP is half of my final target or a closer/weaker support/resistance level. Please give a thumbs up if you agree with the educational post and if there are any questions, feel free to comment down below.
Education
by AresFx
Double Top Chart PatternThe Double Top or Bottom Chart Pattern is a reversal pattern as its name implies, the pattern is made up of two consecutive peaks or troughs that are roughly equal, with a moderate trough or peak in-between. This reversal could signal an end of an uptrend or downtrend. ( Double top with an end to an uptrend in this case). Double Top Chart Pattern A Double Top chart pattern is comprised of three main components: After a long bullish trend , the price reaches the highest point of the current uptrend After the highest point, there is a decline in price getting support from the support line After this trough the price again increases and reaches another peak falling to the same support line The long bullish trend is the prior trend which is reversed once the pattern is completed, with reaching the highest point of the current trend marking the 1st peak followed by a trough which gets support from the support line i.e. the neckline. Later the price further increases to reach the 2nd peak which gets resistance from the resistance line of 1st peak (usually). Once the price falls and breaks the neckline the formation is complete. The target price for the same is taken as the difference between the neckline and the 2nd peak, with the neckline acting as resistance after the pattern completion. Volume is a confirmatory indication that increases substantially as the breakout is observed and confirms the double top pattern completion! There are few limitations as well to the Double Top Pattern: Can be extremely harmful if identified incorrectly Sometimes the peaks or the trough could be just normal resistance than long-lasting change Might get converted to Triple top, so pay attention to the volume carefully Therefore, one must be extremely careful and patient before jumping to conclusions. Go Trading!!! Further, there are four different types of Double Top pattern based on their respective average rises and failure rate percentage, namely: Adam-Adam; Adam-Eve; Eve-Eve, and Eve-Adam. Where the average is the measure of the price movement from the breakout point to the prime point i.e. 1st peak or the Ultimate high. ---------------------------------------------------------------------------------------- If you find the post useful, please like and share our ideas with the community! - Mudrex
COINBASE:BTCUSDEducation
by Mudrex
6