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BTCUSD UP, DOWN or SIDEWAYSBTCUSD Daily TF I currently see 4 Scenarios for price action over the next couple of weeks. #1 Bullish: Current rejection off the Daily Resistance may see price fall to internal uptrend trendline. RSI is beginning to trend upwards nicely and we have cleared the 50.00 level. If price can respect uptrend then we may have another test of Daily Resistance. If we break this key level then we might see a retest before continuation to test Previous Highs. MACD would spread wider and continue Bullish. MA20 would trend upwards. #2 Short Term Consolidation: If price tests Internal Trendline and fails then I am looking for Daily Support. This would also mean price would test 20MA (Moving Average) and fail. RSI would break 50.00 level and uptrend. MACD would show continued weakness and potentially cross Bearish. Then I would be looking for price to regain stability around Daily Support. The decider for me would be reaction off Long Term Uptrend Trendline. #3 Longer Consolidation: Price would break Long Term Uptrend but hold above Daily Support. RSI would hover at a particular level (Potentially the 50.00), MACD would stabilise with the histogram showing smaller Bullish/Bearish movement. This would give ALTS room to skyrocket. #4 Bearish: All Daily Trends and Supports would break with RSI and MACD showing Bearish action, potentially crossing into Oversold territory (which we haven’t seen since MAR 2020). I would then be looking at Weekly/Monthly Support as well as Key Fib Retracement Levels. Which scenario are you seeing? What have I missed? TA Tools/Indicators: Support/Resistance, Trendlines, MACD, RSI, Moving Average (20) "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
BITSTAMP:BTCUSD
by Trader_Johnni
2
XRP/BTC - Why, How, and When I Think XRP Will Pump to 0.00005000What can I say... I had fun with this one. I didn't start off taking this seriously at all, but then like I usually do, I got really into it and that I started to recognize some interesting trend patterns - so I went for it. I started by inverting the chart completely. I wanted to be unbiased about this as much as possible. I have no trades open in XRP and I am not sure I am going to either, so this analysis really is just me putting out what I see. Enough chit chat, let's get into it and I will start trying to make sense of my method for you guys. As you can see I started from the all-time high and pulling trends to the most recent low. Each time one became invalidated or wasn't strong enough I worked my way to the next reasonable peak and drawing the trends to the lows (pretty standard stuff). While doing this, I started to notice that the price action in the waves started to follow along with these "non-standard" trendlines (is that even a thing?). I pulled four trendlines in the order marked on the chart 1,2,3,4. Trendlines 1 and 2 were a good starting point, but we can all see that they are not validating anything other than air (for now). Trendline 3 was broken and no longer viable --but! Trendline 4 really started showing some promise as the market seems to follow this as its resistance guide down on a journey together to validate the upward trendline at the very bottom - conveniently shoving it into a really tight cone at the bottom. When we break out of the first cone, the price is not going to go insane and for two reasons: one, it's XRP; two, Trendlines 1 and 2 make there way back to the show. You can't ignore previous resistance and support lines. The fib resistance and supports that are and have developed will play the price action back into another tight cone on the trend line not once, but twice and very close together (it's like running into two people--one after the other--that just want to beat you down. Someone's going to lash out and I think in this case it will be XRP. From this point, I needed to start predicting the future and to do that I used my faithful green time cycles to measure the time from the start point of the previous wave low to its peak. With the rough estimate of the wave cycles done, I went back to the beginning of the wave again, but this time armed with the trendline angle tool. Since I cannot really predict the future, I looked left and I gathered previous patterns and data to build what I think is the most likely scenario to play out. I measured the angle of the climb of the wave, the descent angle of the wave, and roughly matched those angles to the time frame of the previous wave and created my fictitious wave's pump and dumps. Based on my analysis up until this point, it looks like XRP will meet and likely break the downward trendline around the 7th - 9th of February. Once that excitement has calmed down, XRP will find it's way back into another trend-cone and look to test the next downward trendline around 24-26 June. Finally, XRP will meet its third trend-cone squeeze and likely meet and break it on 27 June - marking the beginning of breakout action and really great possibilities for a 2-month long with sights set on (or close to) the 0.00005000 on or around 27th September. Ladies and gentlemen, this may very well be what the XRPBTC chart looks like in the second half of the year. I hope you enjoyed this analysis. Please leave me your like comments, and criticisms so I can keep learning and keep getting better. Thanks! :D
XLong
by dbs2020
3
DECISION Point for NZD/CHFOn the chart I've outlined significant support and resistance zones for NZD/CHF. A break of the resistance will signal a strong bullish movement, and a break of support will signal strong bearish movement. With my trading strategy, I will wait for a break, retest, and then I'll enter. Remember to set SL & TP. Risk Management is SO IMPORTANT!!! With using PROPER risk management you play this game with probabilities in your favor. Don't trade with emotion, but be true to your rules. I usually set my SL at a 30pip loss and my TP for 50pip profit. Don't be biased, just follow the market! Like I said this is a game of probabilities. Stay true to your rules and it will go well for you!
by RealEcon
1