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Technical_analysis

An In-Depth Look at the Dynamic Bitcoin Price Action on January In the world of cryptocurrency trading, today was a highly intriguing day. Our predicted scenario played out beautifully as we saw the bitcoin price drop to the $22,950 level zone where multiple confluences converged. We saw a bearish (CVD) playing out exceptionally well, and then we saw the price push up to the monthly level before getting rejected and falling back within the range. Throughout the day, the price fluctuates within the range between the Value Area High and Point of Control, finally falling below the Value Area Low just before the NY close. Currently, the price is hovering between the Point of Control and Value Area Low, with the weekly Naked Point of Control at $22,860 and the Naked Session Point of Control at $22,480, both being tested. Looking at past price behavior, we can see a similar fractal in the price drop toward the Value Area Low before a sharp increase from the $20,500 zone to the $22,500 zone. The first sign of weakness would be a break below the $22,287 level and its eventual rejection as support. In such a scenario, we can expect the price to drop back to the $20,500 zone. However, the price will only be considered bearish if it falls outside the Value Area High and monthly level. If these levels hold support, we can expect the price to rise to the weekly $24,297 level or even reach the maximum pain scenario for late shorts at $25,211. It's important to note that we are still in the same range, and bitcoin has a history of prolonged periods of range-bound trading. Additionally, the upcoming Federal Reserve interest rate hike meeting on February 1st, 2023, and earnings reports from companies like Apple, Amazon, and Google, will be significant factors in determining the future direction of Bitcoin's price. Keep a close eye on how the stock markets react to these events.
BYBIT:BTCUSD.P
by Pac_Meezy
The Weekend Market: An Analysis of Bitcoin Price MovementsOver the weekend, the bitcoin price experienced another $1000 rise. The bullish sentiment among weekend traders caused the price to break through the monthly level of $23,301 and reach new heights. Currently, the price ranges below the weekly level of $24,297.5 after front-running the weekly naked point of control at $23,970 with a $3 margin. The direction of today's price action will be heavily influenced by the performance of the stock market and the US Dollar Index (DXY). From previous price movements, we can observe that the DXY is showing signs of weakness, while both the S&P 500 Index (SPX) and bitcoin are demonstrating strength. This suggests that we see a continuation of these trends. Based on this analysis, there are three potential scenarios for the future of the bitcoin price. Scenario 1: Bitcoin may experience a dip down to test the monthly and new daily levels at $23,021. At this level, there is a confluence of factors, including the point of control for the entire range, a 0.618 Fibonacci level, and a new daily level. This dip may give the market a sense of acceptance within the current range, trap late shorts, and prompt a continuation of the upward trend. Scenario 2: The price may hover above the monthly level and continue upward, eventually reaching the weekly level of $24,297.5. This would signify a continuation of the current bull trend. Scenario 3: Alternatively, the price may continue to fall because of a failed auction, punishing late longs. The price may also fall back within the current range and continue to range. As a first sign of weakness, we will observe the price spending more time between the point of control and the Value area low of the current range, and if it falls below the 4-hour order block level of $22,287. In this case, we may expect the price to dip and test the daily level of $20,673. If this level does not hold, further downward price action may be expected.
BYBIT:BTCUSD.P
by Pac_Meezy
$HARD/#USDT [#Kava Lend]: ResistanceBreakout_+_Confirmation BBanWe've identified bullish signals on the $HARD/$USDT chart through the detection of both a Bollinger Band breakout and a Resistance Breakout. The Bollinger Band indicates a potential bullish trend as the price has moved outside of the upper band, while the Resistance Breakout confirms this trend by showing the price breaking above a key resistance level. Given the alignment of these signals, it may be a good idea to consider entering a long position and targeting higher levels. However, it is important to also consider other factors such as overall market conditions and other technical indicators before making a trade decision.
by Crypto2AF
Charts Museum!!!👨‍🏫Hello, my dear traders🙋🏻. Welcome🌸 to the Charts section📈. My name is Pejman, and this is the Museum🖼️ of Technical Analysis in Tradingview. I'm your tour leader on this visitation, and we will get to know all the Charts well together📊. I'll provide the necessary information about each Chart and answer your questions✅. 🚫So during this tour, please don't eat🍟or touch the charts🙅🏻😄. But it would help if you tried everything you learned at home.👍🏻😉 And if you have any questions, ask me in the comments👨‍💻. In the previous post, I reviewed the life story of technical analysis💹. I said that the best friend of technical analysis was the Chart📉, which didn't separate from technical analysis all these years🤝🏻. On the other hand, I said that fundamental analysis was closely related👥 to the Chart and fundamental information was also present in the charts. So the Chart plays a significant👌🏻 role in the market. (Definitely, the monitor🖥️ plays an essential role in using the computer🧑🏻‍💻 otherwise, we should all look at our motherboards💽😄.) If you're a beginner and want to join us, read the previous post so that you can take the critical steps in learning technical analysis one by one.📃 Now, let's start this post with an example.😊 Each book can contain different information, but the amount of information obtained from each book is different and depends on you.📖 For example, maybe an adult learns valuable information about life from a children's storybook and likes that. Or perhaps a child, despite his age, will relate to a science book about astronomy and like it.👨‍🔬📕 So the amount of information we get depends entirely on us.💁 Regarding the charts, each Chart, like any book, gives us different information, but what you get from each Chart or which type of Chart you are comfortable with is entirely up to you.🙇‍♂️ So, like a good bookseller, I have to tell you all the information about my books so you can use the book that suits you.😉 But ultimately, the choice is yours. The customer is always right. 😂👌 So let's start this tour right away because learning the charts is one of the essential steps in this path.🏃‍♂️ ------------------------------------------------------------------------------------------------- The information about a price or stock can be displayed using different charts📊, and in the Tradingview platform, it is possible to use the best charts and even customize them🔧⚙️. Charts are traders' working tools, like a painter👩🏻‍🎨 who paints with his tools🖌️🎨. Everyone likes to have the best tools🛠🥇. In the TradingView platform, you can adjust your tools in any way you like👨🏻‍🔧. On the other hand, if you get a Pro+ or Premium account, you can use most of the features for charts.✅️ In the following, we will get to know these features and facilities🙆🏻‍♂️. Before starting the explanation, I used SWOT to easily understand the content in each chart, and I tried to share the information simply and based on the existing facts.💁‍♂️ SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis facilitates a realistic, fact-based, and data-driven examination of information strengths and weaknesses.📈📉 We will check these characteristics in all the charts. So let's dive into the types of charts, learn about their advantages & disadvantages, and even compare them with each other. 👇 Let's go through the chart types in order of Tradingview's formation. ----------------------------------------------------------------------------------------------------- Bars Chart :📊 The Bar Chart is very similar to Candle charts in terms of the information it provides. This chart shows us information using horizontal and vertical lines. Bar Charts give us four types of information about an asset. This information is called OHLC , in which O means the Opening price, H is the Highest price, L signifies the Lowest price and C represents the Closing price of a bar in a time frame.💵 Each vertical line represents price changes over a time frame. The horizontal lines on the left indicate the bar's opening price, and the horizontal line attached to the bar on the right side shows the closing price of that bar.➡️ Also, other information is obtained by continuing the vertical lines from above and below. When a bar has an extra line at its bottom, that means the end of this line represents the bar's lowest price. The upper line also represents the highest price in that time frame. Finally, I want to say that bars charts and candles chart may seem a bit complicated, but they can reduce our trading mistakes with the information they provide.🙅‍♂️ For sure, choosing which type of chart you can trade better with is entirely up to you. In the Tradingview platform, you can change the colors of the bars and customize your chart. 🔁 I have to say that this option is not available on some platforms, and if you can’t see the colors & the chart is only seen in black, using this chart will be a bit confusing.😟 ----------------------------------------------------------------------------------------------------- Candles Chart :🕯 You might have seen the Candles chart or heard their name. This type of chart has become the most popular among traders. What do you consider is the cause of the popularity of this type of chart? Now that it's time for the most popular chart among traders let me talk more about the advantages and disadvantages of this chart. However, certain things about this chart have made it the most popular chart. Candles are like the scoreboard of a stadium, which shows the result of the match between buyers and sellers in a time frame. Candles have a body & a wick like a real candle, and these wicks show the same highest and lowest price in a time frame. The body of the candle also indicates price changes. If the color of a candle is red, the price has decreased from the time of opening to closing. And on the contrary, if the candle is green, the price closed higher than when it was opened. In my opinion, this type of price display has a better visual effect. It can be an essential reference for making trading decisions, guessing the next candlestick, continuing a trend, or finding the reversal trend. Candlesticks can form patterns alone or in pairs that help us predict the subsequent movements of the chart. Candlestick patterns are either a continuation of a trend or reversal patterns, which generally have more number and variety and are even more helpful. If you need to become more familiar with reversal candlestick patterns, check out the post below. Also, most indicators work best with candle charts. If indicators are relevant to a particular trading system, often candlestick charts are required. Candlestick charts display who controls a market or market sentiment over a given time frame. Through various candlestick patterns and formations, such as the Doji Patterns, etc. A trader can assess the overall bias over a specific time horizon. Overall, Japanese candlesticks are clear, simple, and easy to describe. But definitely, there are some disadvantages. One of these disadvantages is Apophenia(A tendency to relate unrelated things to each other). It is a mental bias to see patterns in things that are accidental. Our brains want to see patterns, and so they do. We are also looking for meaning, so we find meaning in meaningless things. By combining technical analysis, we see patterns in random data and attach importance where there is none to said data. Candlestick charts are great for this trap. When I was a beginner and couldn't control my emotions, I often saw trends the way I wanted to & this was far away from logic. You can escape these emotional traps by practicing and studying to decide with logic and thinking. Don't worry; as I said, you can count on my help because we will travel together on the technical analysis training road. ----------------------------------------------------------------------------------------------------- Hollow Candles Chart : This chart looks very similar to the Candles chart, but it may look a little more complicated, and as a beginner, you may need help understanding the meaning of these candles at first glance. The system and function of candlesticks & hollow candles are entirely the same, and the difference between them is their appearance. But still, I will write some points about this chart. This chart shows OHLC the same as Candles and Bar charts, but on some platforms, it may be seen in colors other than the default colors (green and red - black and white). But in general, this chart will show the price fluctuations entirely, and because of the similarity to the candle chart, it is less used. ----------------------------------------------------------------------------------------------------- Column Chart : As you can see, this chart consists of colored rows. For example, the green row indicates a price increase, and the red row shows a decrease. It may give us incomplete information for trading, but if you want to compare statistics with each other or get information quickly and with a simple glance, these charts are suitable. ----------------------------------------------------------------------------------------------------- Line Chart : I want to examine the Line chart, which is the simplest type of Chart.➡️ A line chart consists of points connected by a line, and these points only represent the final price ( closing price ) of a currency or share. This Chart can be suitable for comparing the information with each other at a superficial glance because it doesn't have any extra data. Apply two line charts on top of each other and see correlations between different assets. Line charts are less used for trading; Because a line chart consists of points connected by a line, and these points indicate the closed price in a time frame and give us less information. There are some other charts similar to line charts that are suitable for comparing information, which I will discuss below. ----------------------------------------------------------------------------------------------------- Area Chart : This Chart shows the changes in one or more sets of data and can be checked with other variables, but usually, the second variable is time, and the price is measured relative to time. This Chart will be suitable for comparing two or more charts. I put the advantages and disadvantages of this chart in the picture like other charts. ----------------------------------------------------------------------------------------------------- Baseline Chart : You may have noticed the similarities and differences between this chart and the Line and Area charts. The Baseline chart looks similar to the above charts but with different levels; it provides us with more information than these two charts. By default, there is a hypothetical line, as the average price line in the middle of this chart. When the area is green, the price is above the average level, and if the area is red, the stock or currency is traded below the average price level. You can adjust the baseline level. This level has a comparative aspect, and this type of chart is very suitable for checking the market's fluctuations. ----------------------------------------------------------------------------------------------------- High-Low Chart : This chart provides us with more information than the line and area chart. But this chart is not complete and does not show the opening or closing price & it only expresses the price changes from the lowest to the highest amount in a time frame. ----------------------------------------------------------------------------------------------------- Heikin Ashi Chart : The Heiken Ashi chart is well-known among traders, like the candles chart, and was first used in Japan. By filtering price fluctuations and averaging between two consecutive candles, this Chart makes it easier to identify trends and helps traders avoid market excitement. Take a look at the below chart to get to know this type of chart better. I have to say that this chart type is helpful in the stock market and commodity market, which is associated with more gaps because they determine the price direction without gaps. So if you feel it can be useful for you, test this chart along with your other strategies. ----------------------------------------------------------------------------------------------------- Renko Chart : This type of chart does not pay attention to time, so the time axis is not present in its structure. This chart consists of sections called bricks or blocks, for which the amount of price change is determined, and the minor changes are not taken into account. Each block shows a price move covering a user-defined number from the recent close. If the user selects ten numbers, each block will represent a ten-number movement in either direction. New blocks will only form when the price moves by the set amount of numbers. However, these can be tricky because more price movement can happen than expected. The Renko chart is one of the oldest and most famous Japanese charts. You can use this chart any time frame if you have a Pro + or Premium account on the Tradingview platform. Otherwise, you can only have this chart in the daily time frame. ----------------------------------------------------------------------------------------------------- Line Breaks Chart : These charts are excellent indicators of momentum. Each bar is called a "line," A new line will form if the new closing price is higher than the current close or the new close is lower than the last 3 bars. You can change this number to any number of lines in the past. But the most popular number among traders is "three lines in the past." For this reason, this chart is also known as three broken lines. ----------------------------------------------------------------------------------------------------- Kagi Chart : Now it's the turn of a fancy line chart with a formula. The Kagi chart works established on price and discounts the time axis. Think of it as someone's finger showing you, "We reached -this- high & then -this low” 😂. Kagi lines do not reverse unless the price changes the minimum amount. However, what defines what gets plotted is if the price moves by more than a specified percentage from the most recent close. The color of the lines will change based on new highs and lows. If the new high is higher than the previous high, the color changes to green & if the new high is lower than the previous one, it would be red, signaling weakness in price. ----------------------------------------------------------------------------------------------------- Point & Figure Chart : Point and Figure charts were initially developed as a price recording system and later became technical analysis charts. Before computers entered the world of Technical Analysis, this chart was widely used. Still, fewer people use it these days due to the complexity of understanding this chart and the limited information it provides. These charts are like Renko blocks. The X's denote bullish moves, and the O's designate bearish moves by a set number. All the rules involved in Renko blocks apply here; however, these charts look additional. These simple charts focus only on significant price movements and completely filter out noises (minor price movements). The unique aspect of these charts is that, unlike Candles, Line, and Bar charts, the time isn't directly considered in the chart. Sometimes we can obtain good results and price targets from these charts, which are sometimes very special and significant. So if you are curious to learn point & figure charts do more research (remember to practice a lot😊. ----------------------------------------------------------------------------------------------------- Range Chart : The last chart of this museum is another chart related to the price movement. This chart may look like a bar chart, but I have to say that it's not. It contains some of the information that the bar chart had. If you add this chart, you will see that it has a different time frame than other charts. 100 ranges; As the name indicates, it includes 100 of the latest price movements you can see in different time frames. But, it has more than 100 ranges, and you can determine the number of these movements, which varies from 1 to 1000.
Education
by pejman_zwin
41
Technical Analysis !!!👨‍🏫Hello, my trader friends🙋🏻. I want to tell you the story of Technical Analysis, its advantages & disadvantages. We're even gonna learn about its branches. Like any other science, Technical Analysis has come a long way, and it's still evolving. But why should we learn it and know it well?🤷🏻 When you're trading, you may be afraid or greedy. But how do professional traders control these two?🤔 Let me start with a simple example. If someone turns off the lights & challenges you in a new room, you will feel scared or lack confidence because you don't know that place. But if the challenge happens in your bedroom or home🏡, you'll feel more powerful 💪🏻 and confident because this environment is familiar & you can act better.✅ Fear is caused by the unknown. When you don't know this market, you can't get good results (or at least permanent good results). So follow this page to conquer all the peaks⛰️ of Technical Analysis together🙌🏻 and learn from A to Z of it. Also, I'm a fellow traveler on this route🛤️, not your tour guide. So, if you have any questions, ask me in the comments💬. My trader fellas, let's take one step👣 at a time because taking long and hurried steps will only hit you harder. I'm with you in all these steps🪜 & get started with the first type of market analysis. Technical Analysis is old. I mean, it's almost 300 years old📜, but it doesn't like to talk about its age, so we couldn't find the exact information about its birth date🗓️😑. Maybe it’s from Japan⛩️🎌 and was born in the 18th century, or perhaps its date of birth is in the Middle Ages. But there is some more information that I'm sure about. For example, in 1879, the Technical Analysis found a friend by the name of Chart📈, and they have not separated until today. Let's skip this story and be serious☺️. Technical analyzers believe that everything is in the Chart. In Technical Analysis, there is all the necessary information for trading, such as entry points, exit points, market volume, stock prices in the past and present, etc. (The Chart is a complete encyclopedia for Technical analyzers!!🤦🏻😶 ) There is another type of analysis that examines the available information about a stock (from the founder of a stock or company to the cost and income and even the company manager's records), called Fundamental. But the Technicalists say that even some of the Fundamental information is in the Chart! 😐 Overall, Technical and Fundamental are both complementary to each other and opposite to each other. But both are related to the Chart. (These three have a complicated relationship; I mean, there is a love triangle, so we should stay out of it !!🤫😂 ) Let's skip the joke. All these things are just like the gears⚙️ of a car, but it's not enough. You need to follow more rules in the market to pass the finish line🏁 with your trading car🏎️ . Don't worry cause I'm gonna tell you everything you need to know to win🏆 this trade racing with your strategy car. Now that we have learned a little about the history of Technical Analysis, it is better to learn about its contents. The price chart, our most important resource and tool in Technical Analysis, consist of the price-time, Charts, and Candles. But these candles🕯️ existed 100 years before bar and dot charts.📊📉 In 1700, a Japanese man named Huma realized that the price of rice depended on the emotions of traders in addition to supply and demand. Candles show these feelings with their colors. For example, the green candles🟢 show trust and good feelings among people who invested in a stock.🤑 But red candles🔴 indicate doubts or hopelessness of people about a stock, and they sell it.😞 I don't know why I remembered Moody's octopus doll🐙 :) But candles tell you the feelings of other traders just like these dolls. But only its color is not essential. Can you guess the other important factors about candles? I will tell you the rest of them soon.😉. Have you heard that history repeats itself? By looking carefully🧐 at the old charts, some creative people found that the prices behaved similarly to their past. They realized that the candles make interesting shapes next to each other, and they made these shapes repeatedly in different periods.🔁 They formed different geometric shapes and patterns & continued to make these shapes until today :) Let's accept that the Chart is creative and artistic! 🎨🖌️😊 For example, they found a shape called a Head & Shoulders Pattern. This type of pattern will cause a downward trend⤵️ in the Chart. I tried to find it & place it on someone's Head & Shoulders to remember it better. 😁 Many patterns can be found in any chart, and I have already taught the reversal patterns in my previous posts, But I want to go over all the patterns in detail again in the future, so let's dive into the other contents of Technical Analysis.👇 Using formulas, mathematical🧮 ratios, and advanced calculations, indicators were created that can generally show the market's present and past and give a relative opinion about the future (Please don't get the indicators wrong with magic 8 ball🎱 or Professor Dumbledore's wand✨. ) Let's be serious about it. Maybe you know that indicators depend on the two factors of time and place of price. In terms of time🕦, they are divided into two categories: leading and lagging. In terms of price movement💹, they are divided into three categories: trend indicators, oscillators, and volume indicators. The indicator that I made the above meme for is a leading oscillator. Now it’s time to go for the other various tools that are made by using numbers🔢 and people’s actions in the market. A person named Nelson Elliott made a useful tool, although, after his death, many people worked on this tool and improved it until today it reached us, but we are going to discuss it better in the following posts like the rest of the contents of Technical Analysis.😉 But I have to say Elliot believed that the market is not disordered and always repeats a repetitive cycle, and Eliot called these repeated movements waves. According to him, if you can perfectly identify the repeating patterns in the price, you can predict how the price will change (or not change) in the next phase. Eliot published his experiences and theories in a book called the waves principle, which I recommend if you want to get good information in this field; it's better to start from the origin of this theory. I think there is no better definition for the word "Wave" than sea waves🌊, and I tried to draw Elliot waves like sea waves reaching the shore. 🏖️ In the end, I want to say that whatever style of analysis you have or whatever type of Chart you use, in the future, this machine will not go the right way without following a series of principles. Suppose you have the best car in the world, but you neither know how to drive nor the rules. It can be guessed that you will either crash with someone or break the car💥. You should have risk management along with your trading system, and don't forget that no trading system is perfect.🙅🏻 It is better to try each method on demo accounts before making real trades. Of course, you can count on me and ask any questions you may have.🙂💭 In the following posts, I’ll talk more about the things that have been said and introduce you to good trading systems that can be obtained from any method. I'm by your side so that if you are a beginner, you can find your own way, and if you know the market, we can learn the basics of this market better & together🤝🏻. Wish you happiness, health & success guys🙋🏻.
Education
by pejman_zwin
75