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Trend-pattern

BTCUSDT PRICE SQUEEZE + QQQ CORRELATIONImportant things to note: This is just a small update with small adjustments to my targets. If you would like me to make a video version of these updates, let me know in the comments. A quick video overview of BTC and the markets would be easier for me to put out more often via video. We are currently going on our 9th red week and I have to be honest, I just do not see another down week happening. Price has been staying in area of interest and squeezing. QQQ correlation has been falling daily since May 12th. I have adjusted the price targets by a small amount. The Volume we had on the drop across all markets is significant. I have also adjusted the symmetrical triangle to account for the price movements. It would make sense that the price would squeeze higher and test the trendline. I expect the trendline test to get rejected due to the overall bear market. Tightening starts June 1st which would spike the price is the market shutters. Hey everyone! I just wanted to give you a quick update since I have adjusted a few things and have looked at the overall market during the weekend. Also, it would be easier on me if I could just make a video update every few days going over the tradfi market, derivatives, crypto and anything else I see going on. If this is something you would rather see versus reading me ramble on, please let me know in the comments. I would still put out charts, but it would save me some writing time. Anyways, so I have been thinking about the fact that we are going on our 9th red week and to be honest, it cannot sustain the same momentum forever. I think this would be a good time for the price to squeeze upwards towards 33k while simultaneously testing the trendline. I also expect that the trendline test would be rejected. The lows will need to be tested eventually and that would also fall in line with the fed tightening. I do not expect the market to puke the very day that the tightening begins, but that week or the following week seems likely if the credit market starts to shake. I have also put the downside risk on the chart as well so you know where I expect price to go if things go wrong. I should also note that you can clearly see the correlation to QQQ start to fall little by little. The thing is, BTC is cheap compared to QQQ if you look at the average distribution. So I expect that at these levels, people are going to keep stacking. The volume across all exchanges should also be of note because it was absolutely massive. It is clear the market panicked hard during the last drop, and that makes people oversell. As a bull, that is exactly what you want to see because it creates a price floor that is difficult to break. That's it for today folks! Thanks again and let me know what you think about quick video updates! It will just be me going over things I am looking at currently. Till next time! So tell me what you think? Not financial advice. Do your own research.
by mysticalwalrus
16
Cup and Handle Formation in ENSBullish here as it seems to be a cup and handle formation and hence took a small long on the same. Note: This is not a financial Advice just my own trading opinion and personal trede info, DYOR before investing/trading any crypto or coin, I do not take any responsibility of the loss assumed by you in any trade you took based on my analysis. Please do share your analysis as overall it helps the community and encourages participation, thanks for reading whole note, Good Luck!!!
Long
by Shradosphere
ALWAYS RESPECT the PRICE TARGET MEASURMENTS !!!!!!!!!!!!!!!!!!!!just a quick update. the PT i posted earlier we hit then we blew past it !!!!! now look as we are bouncing back and fourth on that same price target as support/resistance you can make this up. technicals are key always wait for your candles to close and zoom out before your freak out.. a 6hr chart is not worrisome at all vs a 1hr. check it out for yourselves tip of the day.... before freaking out, zoom out on the charts!! ***im not a professional... i do this like i was one though :P*** if you enjoy the content please like and subscribe
BITSTAMP:BTCUSD
by ELM_Trading_NYC
BTC chart for 1/4/21 @ 3:40 EST showing possible trend linesthis chart is showing a few different patterns i deem bullish. higher highs and higher lows as well as rising volume and a bullish snap back candle off a longer term (12/27 high) support. also maybe bounce back to fill in the head and shoulders neck line. if so that is usually bearish pattern. i would be cautious trading this market ... unexperienced traders should stay on side lines. keep SL's and TP's tight. ***im not a professional. dont do what i do :P**** happy trading good luck please follow and subscribe if you like the content.
BITSTAMP:BTCUSD
by ELM_Trading_NYC