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Tweezer Tops

BTC forming Tweezer tops?On a 4 hour chart we can see Bulls losing steem. First a dragonfly doji candlestick formed which represents big amount of bearishness. Few hours later a Tweezer tops formation can be seen. If BTC closes like that, we could see another fall to the new lower lows (5400-5700) as third Elliot downtrend wave will start forming (usually the nastiest one). Other indicators are RSI where we can see lower highs and MACD where bearish divergency started forming. We would need to see huge rally to 7600-7700 range to start changing market trend, but at this very moment that seems far away. What do you think?
Short
by zoxparty
1
Bitcoin Daily Update (day 184)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to get my complete trading strategy and click here to learn more about how I use the indicators below! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. 1 day - 3 day: short squeeze/test top of triangle at $7,500 -$7,650 | 3d - 1 week: Retest $6,000 | 1 month predictions: < $5,750 by 9/24 | bottom prediction: $3,000 by 10/30 Previous analysis /position: “Due to green 7 on TD' Sequential I am expecting two more days to the upside and will be crossing my fingers for a 9 at resistance combined with a reversal candle to provide a perfected entry.” / sidelines Patterns: Descending triangle Horizontal support and resistance: R: $7,150 | S: $6,800 BTCUSDSHORTS: Have pulled back 32% while price only bounced while price is only +1.1% since short squeeze. Funding Rates: Longs pay shorts 0.0116% 12 & 26 EMA’s (calculate % difference): 12 & 26 = + 1.18% | If price breaks down EMA’s it would be a good confirmation to enter a short. 50 & 128 MA’s: 50 = -2.20% | 128 = -7.05% | breaking down 50 MA is very bearish Volume: Still significantly lower than average. Watch for it to pick up drastically if/when we break down $6,800. FIB’s: 0.618 = $6,895 | 0.786 = $6,509 Candlestick analysis: Hanging man + tweezer top confirmed Ichimoku Cloud: Held as resistance, back in fully bearish territory. Unresolved c clamp on weekly. TD’ Sequential: Daily G8 Visible Range: $6,368 remains the crucial area of support as it is the point of control over the last 6 months. BTC’ Price Spreadsheet: 12h = -2.84% | 24h = -3.56% | 1w = +4.76% | 2w = +4.86% | 1m = -16.62% Bollinger Bands: Expected to retest Daily MA at $6,532 after pulling back from the top band. Trendline: Connects Aug 22nd - Aug 26th and is currently being violated Daily Trend: Bearish Fractals: Down = $6,230 | UP = $8,314 On Balance Volume: No div’ ADX: ADX found support at 15, indicating that we have ranged for long enough and should start to trend again soon. -DI and +DI converging, expect them to cross in the next week. Chaikin Money Flow: This thing has been all over the place and I have not found it useful at all over the past couple weeks. Bull div’ then bear div’ now bull div’ on daily. Massive bull div’ on weekly has become a very significant bear div’. RSI (30 setting): W = 49.6 | D = 49.67 Stoch: Sell signal on daily. 3d shows plenty of room left. Summary: Looks like we are just going to miss the perfected entry that I was hoping for yesterday. Instead we got a hanging man + a tweezer top which provided a low risk entry yesterday. Unfortunately I was on the golf course and unable to sell once the current candle traded below yesterday’s HM. Now I am thinking today will be a great time to open a short and tomorrow/this weekend will be the time to add to it (if and only if it is moving in our favor). I will be watching for the following and entering my position in quarters following each confirmation: Bounce from $6,800 support creates lower high below $7,128 or a double top. Breaking down $6,670 would make for a very bearish weekly candle and would firmly put us back below $6,800 resistance. Breaking down $6,368 puts us back below the point of control on the visible range volume profile when looking back 6 months. Taking out 2 week lows at $6,179 would provide the final confirmation. I will be watching Bitcoin’ for confirmation to enter and then I will be shorting ETH. When/if it breaks down $260 I am expecting it to get ugly. As is stands right now I would be placing stops right above yesterday’s high.
BITFINEX:BTCUSDShort
by Sawcruhteez
Bitcoin Daily Update (day 183)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to get my complete trading strategy and click here to learn more about how I use the indicators below! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. 1 day - 3 day: short squeeze/test top of triangle at $7,500 -$7,650 | 3d - 1 week: Retest $6,000 | 1 month predictions: < $5,750 by 9/24 | bottom prediction: $3,000 by 10/30 Previous analysis /position: Seeing signs of a reversal and very unimpressed with volume on breakout. However decided to hold off on re opening shorts due to green 6 on the TD’ Sequential / sidelines Patterns: Descending triangle Horizontal support and resistance: S = $7,000 - $7,050 | R = $7,125 BTCUSDSHORTS: Currently testing 30,000 for support (was resistance). If it finds support here we could be looking at a Bulkowski Big W. Funding Rates: Longs pay shorts 0.01% 12 & 26 EMA’s (calculate % difference): 12 & 26 = +4.92% and making bullish cross 50 & 128 MA’s: 50 = +1.65% | 128 = -3.91% Volume: Very unconvincing. Remains below MA on daily and that is a strong indication to me that this is only a temporary squeeze. FIB’s: 0.5 = $7,161 | 0.382 = $7,462 Candlestick analysis: Tweezer top/bearish spinning top forming on daily. Ichimoku Cloud: As expected the cloud and Kijun-Sen are acting as resistance. TD’ Sequential: Green 7 indicates two days left to the upside. Visible Range: Low volume node from $7,100 - $7,300 with 3 month look back. BTC’ Price Spreadsheet: 12h = -0.35% | 24h = -0.4% | 1w = +10.63% | 2w = +12.06% | 1m = -14.56% Bollinger Bands: Last two daily candles closed outside BB. Feels very similar to July 19th. Trendline: Descending triangle. Could also connect August 22 - August 26 Daily Trend: choppy Fractals: DOWN = $6,210 | UP = $8,321 On Balance Volume: Following price, no div’ ADX: ADX finding support at 15? Chaikin Money Flow: Bear div’ on weekly. Pulling back on daily and about ready to create a bear div’ as well. RSI (30 setting): W = 50.02 | D = 51.78 Stoch: Overbought on daily. Plenty of room to go on 3d. Wyckoff: "Point 11 gives us our last opportunity to cover any remaining longs and our first inviting opportunity to take a short position." Summary: Feeling very confident in selling this bounce. Nothing about it makes me feel like it will be sustainable. It is a short squeeze and it is not causing FOMO buyers to pile on like it did in April. Due to green 7 on TD Sequential I am expecting two more days to the upside and will be crossing my fingers for a 9 at resistance combined with a reversal candle to provide a perfected entry. It rarely works out like that and I will be prepared to start opening shorts today if we continue to retrace much further. Will be watching for today’s candle to retrace 50% or more in relation to yesterday’s candle to indicate that this rally is exhausted. Will be sticking with the plan of shorting alts instead of BTC’.
BITFINEX:BTCUSDShort
by Sawcruhteez
2
[Red Apple] "Wait until breakout $7100~7200"_BTC/USD_18.08.29Let's analysis BTC If you are busy, you can just read below briefly 'A. Briefing ' 'E. Summary and Strategy' before read, click ' +Thumb up, +Follow' :-) A. Briefing . Approaching important level($7100~$7200) . Just before touching descending trend line . Indicators showing over-bought B. Daily Chart a. Trend Just before touching descending trend line b. Candle possible to be Three White Soldiers pattern -> today's candle is very important c. EMA being resisted by 100EMA d. Sum. penetration of 100EMA and descending trend line -> completed three white soldiers pattern -> possible to additional go up -> high possibility for Bullish market C. 4H Chart a. Trend Reversal based on Dow theory b. Candle Bearish Tweezers top c. EMA in right order d. Pattern horizontal pennant or ascending flag pattern -> breakout up-ward -> completed target e. Fibonacci 0.5 is important level for additional rise. f. Sum. There is Tweezers top pattern. This could be not really important signal because it is found out from low frame chart(4H) but if it cannot breakout continuously, btc price might be dropped down. D. Indicators a) RSI and CCI showed bearish hidden divergence like blue arrows in past and now, RSI and CCI are showing the divergence again. b) Stochastics is becoming converged. c) MACD : there's possibility for golden cross since Jan. 2018. d) Sum. If you check daily chart, bearish divergence more definite but also MACD shows positive signal. In this confuse situation, personally, correction phase at least will be come since $7100~$7200 is working as resistance. check out the direction of breakout on Stochastics but keep saying, do not trade with only indicators!! This is just your assistant for trading E. Summary and Strategy Recommend that Wait until breakout of purple box . even it is broken, there is descending trend line just above. always keep thinking about it. But, if you really really want to trade as aggressive traders, check harmonic patterns from above chart in short-term(30M). Trade with your standards. if i catch 'buy signal' and something special, 'll comment If you got help from my idea, "+Thumb up, +Follow" . Thanks. :)
BITFINEX:BTCUSDShort
by Red_Apple
BTC - Price Analysis The price of Bitcoin formed tweezer tops (reversal pattern) 3 days ago, and after the FUD news in regards to ETF denial of the Winkle twins, we saw further consolidation down to the 7130 price point. There are two channel that contain the price currently. A larger ascending channel that the price is still within, and a potential downward channel. However, I believe support will be found before the psychological supports (light blue) in place at 7.4 - 7.7k which are further reinforced by fibonacci supports. Furthermore, the Kijun and Tenkan are also acting as support, and their horizontal motion indicates lessened volatility. The RVI again confirms the lessening volatility. Moreover, the ADX is sitting at 37.2 which still indicates this uptrend is still strong, and the widened DIs help support this thesis. For the reasons listed above, and the fact that the more important ETF application that was submitted by CBOE should be published in some bullish news over the next few days, I believe the price will find support at the 7.7k level before a possible extension back to the .786 extension point at 8.3k~
BITFINEX:BTCUSD
by SpektreSignal
IOTA Price AnalysisCurrent price action looks to be forming a bull pennant on the daily chart. The past two daily candles closed forming tweezer tops signalling a reversal this is confirmed by the Stochastic RSI which just underwent a bearish cross in the overbought region. The kumo as well as the Kijun, and Tenkan sen are all acting as supported this is further reinforced by the .5 fibonacci level. The DI+ has curled inward to reflect the current drop in price. The price should fall next to the Kumo/Kijun to form a higher low before resuming it's current uptrend.
by SpektreSignal
LSK lookin' to reverseEverything adds up almost perfectly among the indicators right now. RVI is low and is nearing past levels of strong support. So volatility and downward momentum is decreasing which is bullish. Room to fall then bounce off support. This is mirrored on the stochastic as well as the TRIX. We should see the price bounce off the bottom of the ascending channel at the 0.236 fib line before seeing a price extension to roughly the 0.618 level and this is confirmed by the contractions seen in the kumo.
by SpektreSignal
JNUG Pullback Buy OpportunityJNUG may be in a weekly downtrend, but there is a promising bullish buying opportunity today. We saw the daily 100 EMA act as resistance in October, but in late December,JNUG breached both the 50 EMA and the 100 EMA without a significant pullback. It printed a bearish tweezer top last week, leading to a failed re-test of the 100 EMA in after hours trading last night. Today, we saw the 50 EMA act as support as the Stochastics tested previous resistance. This is a buy signal. A close over the 100 EMA could push us over the tweezer top, likely resulting in a true reversal in the trend. Watch the Weekly 50 EMA for a 1st target on a swing trade. close below the weekly 9 EMA today (16.45) likely means we return to lower support.
AMEX:JNUGLong
by Red_Ben
USDJPY - many bearish signalsOn the daily chart we can see how the price, after a sharply upward move, stops near an important resistance. After a nice white candle, we can see how the price action shapes a long legged doji, after that it shapes a reversal hammer (not so nice). Furthermore, these two reversal signals shape a tweezer top. Thus, we have different reversal signals that can give us short opportunities, so we could take advantage from that by selling US Dollar. Using Fibo we could put our TP at 23,6% of the previous swing and a SL above 111.36, for instance at dashed line. If the price continues its ascent, we can buy when price pierces the resistance line with TP at 123,6% Fibo or near next resistance line at 114,431 price level, whit a SL at 111,442 (the nearby resistance line at current price). I will happy to see comments and suggestions to improve my analisys. Thanks.
Short
by michele_laino
AUDNZD - Weekly Tweezer TopsJust checking up on my charts for the week and after the close for the weekend before we got a tidy set of tweezer tops on some strong resistance on 1.3000. I'm only going to look for a 1:1 RR on this trade because I'm going counter trend on this as we've just had a breakout past the long term bearish trend line shown. Looking for price to retrace back down to my bullish trend line and support at 0.0925 and go long on a proper price action set up. (yellow zone)
Short
by themikewwfx
1
AUDNZD - Weekly Tweezer TopsJust checking up on my charts for the week and after the close for the weekend before we got a tidy set of tweezer tops on some strong resistance on 1.3000. I'm only going to look for a 1:1 RR on this trade because I'm going counter trend on this as we've just had a breakout past the long term bearish trend line shown. Looking for price to retrace back down to my bullish trend line and support at 0.0925 and go long on a proper price action set up. (yellow zone)
Short
by themikewwfx