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Tradingrange

Will BTC Break Its Consolidation Range This Week?Over the past few weeks, BTC has consolidated around the $19,246 level, which is the Fibonacci level of interest discussed in a number of recent posts in the past couple of weeks. See the links embedded in the Primary Chart above. BTC has chopped above and below this $19,246 level quite a few times, forming a tight consolidation range between and $18,232 and $20,225 approximately. Each breakout move has resulted in a bear or bull trap that fails to follow through with a sharp reversal back to the opposite side of this level. See the intraday Supplementary Chart below for an overview of the past two weeks of price action with some of the prominent failed breakouts highlighted with circles. Supplementary Chart: Key Fibonacci Level at $19,246 with Multiple False Breakouts in Both Directions The failed breakouts in both directions have likely been a source of frustration for bulls and bears alike. Each move has been essentially a trap move that failed to follow through, with a sharp reversal to the opposite side of the $19,246. As pressure mounts on major equity indices like the S&P 500 ( SP:SPX ) and NDX 100 ( NASDAQ:NDX / NASDAQ:QQQ ), with many of them undercutting June 2022 lows, BTC is like to follow suit in short order. This does not negate the possibility of BTC yielding a sharp OS bounce in the coming week or two after a trend move lower. One argument for the bulls is that BTC's sideways chop action has resulted in its relative strength becoming quite impressive. Equity indices have been plummeting sharply since mid-August 2022 with little reprieve. But BTC during this time has largely chopped sideways after losing a few key levels in late August and early September 2022. BINANCE:BTCUSDT BITSTAMP:BTCUSD COINBASE:BTCUSD KUCOIN:BTCUSDT KRAKEN:BTCUSD CME:BTC1! ________________________________________ Author's Comments: (1) Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate in the comment section. Shared charts are especially helpful to support any opposing or alternative view. (2) This technical-analysis view does not constitute a trade recommendation or trade setup. Instead, it attempts to offer technical commentary that describes and analyzes price levels, trends, price action, or the broader technical environment as of the publication date. Technical-analysis commentary does not equate to trade setups or recommendations. Within a given price environment, traders bear responsibility for their own trading strategy, risk tolerance, and time frame, and for any due diligence associated with such trades. (3) This technical-analysis viewpoint could change at a moment's notice, e.g., when price violates a key level of invalidation for a particular view. Further, proper risk-management techniques are vital to trading success. (4) To the extent countertrend price moves are discussed, consider that countertrend or mean-reversion trading, e.g., trading a rally in a bear market, remains higher risk and lower probability even for the most experienced traders and investors. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified / licensed financial adviser or other financial or investment professional before entering any trade, investment or other transaction.
Short
by SquishTrade
12
NFLX: Inside a CONGESTION! How to proceed?• NFLX is trading inside a range between $213 - $ 251; • The 21 ema is flat, another indicator that the mid-term trend is neutral; • Since it is a congestion, NFLX is a buy when it is near $213, and a sell when it is near $251; • The price action is uncertain, and NFLX would need to do a real breakout either to the upside or to the downside so we can work with new key points; • If NFLX loses the support at $213, then the next target will be the $190; • By breaking the $251 it will probably try to fill the last monster gap at $333; I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
NASDAQ:NFLX
by Nathan_The_Finance_Hydra
2
XRP - Trading Ranges This week XRP has started to lead the way in the altcoin market. We've spend months at 30 cent price area. This is an price area at which XRP price historically spend most of the time, so it presents a good historical support. Just like with my last idea on BCH trading ranges, it goes the same for XRP. We have started to poke through red trading range and are testing next one. FRVP (Fixed Range Volume Profile- blue bars on the left) indicator suggests that we are testing second strongest resistance level range that is from around $0.50 - $0.68 (yellow). I am positive that we will go there, maybe even run through it to the 3rd level and than fall back to the 2nd one to range and slowly move up again with an increasing speed. It is a speculation so it is impossible to really know. I also expect that the level 6 if not before, can turn us back down a bit before continuation upwards. In my eyes we cold still fall from 6th range to the 3rd one that held us for 4 months before the start of last capitulation in April. Given on how delaveraged altcoin market got, coupled with how XRP has moved up in the past after setting a clear bottom, it is also a possibility that we just explode upwards, should the short squeeze happen both with fiat pairs (XRP-USD) and btc pairs (XRP-BTC). I am not a financial advisor so non of this should be taken as a financial advise.
Long
by AVA37
1
EUR/USD is in a trading range, so BLSH!Hi dear friends; If you have seen the previous analysis, you should remember that the price was in a wide trading range and I believe it is still in this condition. The trading range formed after a two-legs bearish spike and finally, the price returned to the flag of this spike. But now I'm waiting for the break out of the price to what you see as the wide trading range zone. There is a possibility of an increase due to the long distance of Moving 20 in the monthly time frame, although the conditions are normal in other time frames. I am waiting for the price increase, but for now, we are suffering from trading and you know the rules; BLSH*. Cordial Regards; ALI SADEGHI.
by ali5adeghi
2
BCH - Trading Ranges To OvercomeWe obviously fell a lot with BCH, but still price did not broke any multi year supports, set back in 2018. With such fall those yearly price gabs were closed and i am very positive that the bottom is in for BCH and other crypto. There is gonna be plenty of resistances back to the top. Those resistances are trading ranges or price areas where larger trading volumes have occurred. It is where i expect that price can pause out and start ranging for a while. First we need to get out of the first (orange) price range and visit a second (blue) range. I expect that once we really start going we should be there really fast just because there are a ton of shorts in the market right now and shortsqueeze can happen easily. As for the 3rd price range ...I still think that we will go to the third trading range nd even .618 fib. retracement level (green arrow), but before that, price will probably have to work out lower between 2nd and 1st trading range before continuation upwards. I can be really wrong. No one knows really. it is a speculation based on historical price behavioral. I am not a financial advisor so non of this should be taken as a financial advise. Be well.
Long
by AVA37
EURUSD in the BOX !Hi dear friends; According to the two falling equal lags that you can see in the chart left side (two-piece spike), now I think we are in the trading range of the market cycle after the descending channel. On the other hand, we can see the price second encounter to the top of the trading range also, it seems that the double top has been forming, and the price can fall to the lowest part of the box. I will be waiting for the confirmation of this double top in different time frames. The news from the Federal Reserve indicates an increase in interest rates also. I think that the Euro will lose resistance soon! Cordial regards.
Short
by ali5adeghi
New Trading Range! Risk Management Is Key At These Levels!Bitcoin fell out of one of its trading channels and has found support in the channel below. this new change will produce 2% swings. Lets see if it will stay in the new channel for a while. If it does, we can scalp a few trades with a tight stop-loss. Love it or hate it, hit that thumbs up and share your thoughts below! Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect! This is not financial advice. This is for educational purposes only.
BITSTAMP:BTCUSD
by rnaofs
#BTC back to $37000 support unless something changes soonBitcoin is still moving within a Trading Range here, and looks like its going to visit the Support area at around 37k at least unless something changes soon, #Altcoin markets are not looking great either Appearance is very similar to a bear-flags pattern, but we have to consider that the bear flag may not play out as everyone wishes, it could easily turn into a Wyckoff Accumulation Range. towards the 33-37k area. Until we get back above the "50%" area marked on the chart Bitcoin is not looking that good. The altcoin markets aren't reacting well to this price action so far, so taking caution until we see more positivity with BTC. I have out layed two scenarios on the bottom right of my chart, a brief generalized explanation of Trading Ranges and the type of reaction we are looking for here.
COINBASE:BTCUSD
by Worth_The_Ri5k
AMZN Trading Range PatternAMZN is in a trading range and will be stuck there for a while. This is a normal, necessary pattern. Trading Ranges have inconsistent highs and lows. It is very common to have a deeper trough, aka low, as the trading range heads into its final stages. It is still a great company. It just needs to reinvent and pattern out the extremely high revenues from inflated demand via stimulus checks during the Covid Pandemic, which are a big factor in this stock chart.
NASDAQ:AMZN
by MarthaStokesCMT-TechniTrader
2