Get started

Vaidoveek

ETHEREUM (ETH/USD) - Technically a Good Area ~$200Firstly, the BTC has to start a downwards correction and secondly, the ETH Daily candle has to close below the black trendline which will be a confirmation for further movements downwards. At the moment, yesterday's candle made a breakout from the bearish chart pattern called Rising Wedge (thin dotted lines, pulled from the bodies) and this could be the first step down but consider those points above! The bounce area criteria: - Multiple Fibonacci levels - EMA 100 & 200 - Previously worked support&resistance level - The round number $200 - The trendline -* 2x Monthly highs and lows in the marked box are tiny indications which makes this area just a little bit stronger Feel free to support my effort by hitting the "LIKE", it is my only fee from You and it means a lot to me! Best regards!
by VaidoVeek
3
BITCOIN - Slight Short-Term Reversal Signs?!The last Weekly candle close gave us a bearish candlestick pattern called Dragonfly Doji. The mentioned candlestick pattern itself is not the greatest bearish candlestick pattern but if the price starts falling or it makes breakout from certain patterns or levels then it can be a good further indication. Considering the last bounce from $8,300 then my last idea post was pretty accurate. The bounce came from the mentioned crossing area and bulls pushed the price to the $8,800. Now, after the weekend slow price action, the price has started to make movements with higher volume inside the candles and the first movement has occurred downwards. Currently, the last 4H candle got a close just below the round number $8,500, plus the price is back below the counter trendline. Actually, there are some sings more so, let's start to count and discuss those. 1. The blue counter trendline is pulled on the 1H chart and I didn't include that fakeout which has occurred on Thursday. I don't want to dig into the tiny details but the trendline is accurate because of the 2. June breakout candle above the trendline. It was full of volume and it showed that the counter trendline was working pretty strongly and bulls needed a lot of power to push the price above of it. The least 4H candle gave us a break below the counter trendline which had to work as a support level. 2. The last 4H candle close gave a break below the round number $8,500 which had to work as a support level or as a psychological level. 3. The thin dotted red trendline pulled from the bodies, first touch 17. May and the second touch 23. May. Third touch on 31. May was a little bit sloppy but still, the bounce came from this area but currently the last 4H candle has closed below of it and it could be a slight bearish sign. 4. There was also a pretty solid price level at $8,575. It has worked as a support level and at the weekend it worked as a resistance level. Currently, the last 4H candle closed below that price and we can take this also as a slight bearish sign. 5. The price has fallen and we can take the last weekend high (around $8,800) as a new Lower High (LH). This can be a pretty important indication/sign especially if we consider that the last 4H candle close took down several strong price levels and before that it made LH. At the moment, we have a lot of small signs which will be indications for a further price decrease. If we collect them more and more then those small signs can give us a stronger bearish signal. Next point is based from the next confirmation areas which will add strongness into my bearish view. 6*. 4H candle close below the $8,400. If the 4H candle gets a close below the mentioned level then it has cracked two more levels/criteria: - The red trendline pulled from the wicks (first touch 17. May and the second touch 23. May.) Currently, it has held nicely but if the 4H candle gets a close below of it then it would be the first time and we can take this as a breakout. The BTC price is not so "hot" anymore and the short-term momentum trend could be over, the LH also confirms it! - The strong price level at $8,426 This close will guide the price into the crucial support area at $8,000 - $8,115. There are the psychological number and the previously worked very strong price level ($8,115), it has worked multiple times as a strong resistance level and one time it has acted as a support. SUMMARY: Considering those bearish signs, considering that the last Weekly candle was a bearish candlestick pattern "Dragonfly Doji" then watch out if the $8,400 gets cracked. The break below of it will trigger those small bearish signs and the price can fall into the major support level. Major support levels stay around the $8,000 and a Daily candle close below the 8k can easily be as a panic button but more about that level when the price has started to approach it. Can't give a bullish signal from current level because of the low count of criteria and because of those bearish signs but the $8,000 level may give us some opportunities for short-term buy trades. Currently, wait for confirmation - break below $8,400, it is the only higher percent trading opportunity from current levels (in my opinion). Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers! Previous analysis:
COINBASE:BTCUSD
by VaidoVeek
14
EURNZD | Short-Term BuyBlue box/buy box criteria: 1. ABC Equal waves point C 2. Fibonacci retracement 38% 3. Previously worked support 4. Channel projection 5. Fibonacci Extension 127% 6. Round number 1.70000 7*. 4H EMA200 just below the box (1.69817) 8*. 2012 High below the support (1.69739) 9. To be more secure and if the price falls lower than the marked box then wait for bullish candlestick patterns from the EMA and from the 2012 high level. "If you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify patterns, define the risk, and determine when to take profits. The trade either works or it doesn’t." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers!
Long
by VaidoVeek
BITCOIN - The Bounce Area & Breakout Confirmation!After the pump from $8,000 to $8,900 the Bitcoin price has stayed stable and it has started to move slightly downwards. The downwards movement has drawn some confirmed highs and lows and we can start to identify some good levels for further bounces/breakouts. Without a big talk, we start right away! The bounce area at $8,250 - $8,430 (blue box) As you see, the price moves slowly downwards and it has started to form a descending channel. If the BTC price makes a little throwback (movement downwards) then there is a pretty strong price level at $8,250-$8,430. This blue box consists of several price action criteria which all indicate that the next bounce should come exactly from this level. The bounce area consists of: 1. "The trend is your friend" - Perfect, the bounce stays into the trend direction! 2. Previous resistance levels become support level (the orange line at $8,353), a classical role reversal or retest situation! 3. The trendline since 17. May, pulled from the wicks and having three touches. A bit subjective but it matches with this area and in overall it should act as a price supporter. 4. Channel (Bull FLag) bottom trendline should act as a support level and it matches also with our crossing area inside the blue box. Channels are usually parallel and the bottom channel trendline is a copy/paste from the upper trendline. 5. Fibonacci retracement 38% 6. Fibonacci retracement 62% 7. 1H EMA 200 is inside the box which should act as a support level 8. 4H EMA 50 is also inside the marked area and should act as a supporter. As you see, this is actually a very strong price level. Multiple indications are matching each other inside the blue box at $8,250 - $8,430. As always, perfect would be a bullish candlestick pattern on some of the higher timeframes (1H+) Alert: Just below the blue box is a red area. If the 4H candle gets a close inside or below the red area then you should be very cautious. The trendline and the strong price levels get cracked after the close around the red area and this can be pretty nasty. So, watch out if the 4H candle gets a close inside or below the red box. Bullish breakout - Bull Flag The prementioned descending channel is actually a bullish/continuation chart pattern Bull Flag. The Bull Flag gets confirmed after the candle close above the upper trendline. The upper trendline is actually a counter trendline (small down-trendline) and if this breaks then those counter trendline breaks have guided the price multiple times into the bigger trend direction. So, wait for a breakout from the Bull Flag which should confirm further movement upwards. Better is a 4H candle close confirmation above the upper trendline! The pattern target and some waves can guide the price into my last target area around $10,000! "If you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify patterns, define the risk, and determine when to take profits. The trade either works or it doesn’t." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers!
COINBASE:BTCUSD
by VaidoVeek
36
EURUSD - Long-term & Short-Term AnalysisI have got a lot of request about EURUSD so, I would like to point out some areas where the price can make some more expected short-term movements. Firstly, the price has been on a short-term ranging range. It has drifted between 1.11 and 1.12 but in overall, the mid-term or even long-term trend is downwards so, currently, more favorable are the sell trades. Even the short-term sell trades are a bit risky because of the bigger picture: As you see, the price action has drawn some bullish patterns on the bullish retracement area. We have a bullish chart pattern called Falling Wedge on the Fibonacci golden ratio of 62%. The market has come pretty heavily down from the 2018 top and currently, it trades just around that mentioned Fibonacci level. So, in the bigger picture, a breakout above the Falling Wedge trendline will be a sign that the current correction from 2018 high could find its end and the bullish view starts to come back, slowly but still, let's search some possible short-term bounce areas. Short-term trade possibilities I have marked two areas for buying and selling. Let's start with the selling area. SELL Selling area stays around the round number 1.12000. There are several price action criteria which match each other in one red box: 1. The trendline should act as resistance, the first touch 24. Sept. in 2018 and the second touch 10. Jan. in 2018 pulled from the wicks. 2. Previously worked resistance level (orange line) 3. 2018 Low which now becomes resistance level 4. Daily EMA 50 5. The round number 1.12000 6. The trend is your friend and the current mid-term trend is downwards. The upper trendline is one part from the bullish chart pattern Falling Wedge, watch it really precisely! If the Daily candle gets a close above of it then this pattern should start to work and the bearish bias could change slightly into bullish. If the price reaches into the red selling box then you should definitely wait for our seventh criteria: 7.* Bearish candlestick pattern on the red box( Shooting Star, Evening Star, Bearish Engulfing, bearish Railway Tracks). Because of the fundamentals and because of the technical aspects we need to see bearish candlestick patterns to be more accurate. Bearish candlestick pattern should occur on the 4H and much more reliable would be a bearish candlestick pattern on the Daily timeframe! BUY The nearest solid buying area stays around 1.10500: 1. Multiple ABC Equal Waves are pointed into the green box. 2. Multiple Fibonacci Extensions are pointed exactly into the green box. 3. The short-term minor trendline runs through the green box and makes a crossing area. 4. Semi-round number 1.10500 should also play a role in this area, not so significant but still worth to mention it. This is a much riskier trade because it is a counter trend trade. It is like a trying to catch a falling knife, you can catch it but sometimes it could hurt you pretty heavily. On the selling area, we have to wait for a bearish candlestick pattern on the 4H or on the Daily then here is definitely only one option: 5.* Wait for a bullish candlestick pattern on the Daily timeframe (Hammer, Morning Star, bullish Engulfing, bullish Railway Tracks) Feel free to support my effort post by hitting the "LIKE" button, it is my only fee from You! Have a nice weekend, Cheers!
by VaidoVeek
BITCOIN CASH (BCH/USD) - Technically Strong Signs & Price LevelsAt the moment, the Bitcoin price and the altcoins have started to make a slight correction. Altcoins correction depends highly from BTC but just in case let's prepare for technically good entry areas and currently, let's look where it can be on the Bitcoin Cash chart. BCH has started to form a bearish chart pattern called Rising Wedge. If the price and if the Daily candle gets a close below the lower trendline and below the $400 then there is a pretty high chance that the price can approach our good entry area. Technically a good entry area stays around $300: - The round number should work as a support level - Previous resistance becomes support - EMA100 & 200 are supporting that strong price level - Different Fibonacci retracement levels are exactly in this area. Firstly, prepare for the drop downwards if the Daily candle gets a close below $400 and secondly wait for that possible bounce area. Technically it is pretty good and lately, those levels have worked really nicely on the altcoins. At the moment, the current trades should be made through the confirmations and a possible bullish confirmation should come after the Daily candle close above $450, the first target is $500. I have to mention this scenario because my major target on BTC is still $10,000, nothing has changed it, yet! "Learning to accept the risk is a trading skill – the most important skill you can learn. When you learn the trading skill of risk acceptance, the market will not be able to generate information that you define or interpret as painful." – Mark Douglas Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You! Have a nice day Cheers!
by VaidoVeek
BITCOIN - Small Signs for Partial Profit!The Bitcoin price has moved higher from the well-known price level of $8,000. $8k offered pretty good trading opportunities: - We caught a correction from 8k to 6,7k (candlestick pattern indications on the strong resistance levels) - We caught a breakout from the triangle and currently, the price has stopped around $8,800 The price has stopped just below the round number $9,000. There are a couple of criteria which will be signs that the price can make a little correction: - Yesterday's candle gave us a bearish candlestick pattern called Shooting Star. Yes, it is pretty valid candlestick pattern but it is not so powerful. Firstly, compared to other pump candles range it was smaller and secondly, it was green. Shooting Star itself shows that sellers started to enter into the market and they pushed the price down, just a little bit to form Shooting Star but the green means that still, yesterday was a bullish candle, the price closed higher than it opened and in the bigger picture bulls have won a little battle. So, bearish candlestick which is worth to mention but not so significant. - We have two parallel ascending channels. Both are drawn from the low of the candle bodies! The smaller one (orange lines) matching exactly with the area where it landed on Sunday. The upper trendline should work as a resistance level and actually, it has already worked. - The strong price level at $8,775 . Historically this level has worked multiple times as resistance level or as a support level, several rejections. Overall pretty decent level. It is not a clean resistance level but definitely, it was worth to mention it because as you remember on my previous post - the first arrow was drawn exactly into this area and because of that and now, it matches exactly with the channel upper trendline. - ABC equal waves C point is perfectly in this resistance area. So, we have three price level indications and one candlestick pattern indicates that we might see a slight correction downwards but still, do not rush to short it. This area is more like a take profit area if you are on the short-term long side (let's say even a partial(!) take profit area). The trend and the breakout have just happened from the $8,000 and the pump may take just a little breathing time. My major short-term target area stays still around the $10,000 and soon I will give you a confirmation area/box. If the correction starts then definitely I start to talk more about the bounce areas but currently, looks like the $8,000-$8,200 is pretty strong price level. Obviously, it depends on how the market reacts if the price starts to fall and how strong the candles are. Green Box - Bullish Confirmation Area It stays just above the $9,000 and slightly above the channel upper trendline which has worked actually as a resistance line and as a support line. Break and candle close inside the green box will trigger the last leg upwards into the $10,000. We should act as saying: "The trend is your friend" which means we trade breakouts into the trend directions and the green area is exactly there where our "friend" is. The breakout which has occurred from the triangle shows even higher targets than the $10,000 but always be less greedy than others and we should be satisfied with 10k level plus the bigger parallel channel should act as a resistance level which should slow the price gains. Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You! Have a nice day Cheers! Previous analysis:
COINBASE:BTCUSD
by VaidoVeek
21
ENJIN COIN (ENJ/USD) - Buy After The Breakout!On the Daily timeframe, the price has drawn a bullish continuation pattern called Falling Wedge. The continuation pattern is valid and active after the breakout. So, wait for a breakout confirmation on the Daily chart and the wait until the Daily candle gets a close above the pattern upper trendline. The target is pretty high, probably you should considering take out some partial profits on the next strongest resistance levels but the pattern target is around $0.4 Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You! Have a nice weekend, Cheers!
BINANCE:ENJUSDLong
by VaidoVeek
6
USDCHF - Sell on Rally!- We have a trendline break on the 4H chart with a very strong and powerful candle. - Short-term lower lows and lower highs - Previous support level starting to work as a resistance - Previously worked trendline starts to work after the powerful break below as resistance and it should be a classical retest situation. - EMA 100 and 200 have a Death Cross on the 4H chart, which will be supporting current break below the trendline - Fibonacci Retracement 38% - Retracement from the semi-round number 1.0500 Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You! Have a nice day Cheers!
Short
by VaidoVeek
1
BITCOIN - 10 Reasons to BUY BTC!Here are 10 reasons why you should consider to buy Bitcoin right now and why I think that a possible next leg upwards is waiting just around the corner. 1. Yesterday's candle close was above the $8,000 above the psychological number - $8,000 is a round number and it should act as a resistance level but the price manages to close above of it. 2. Yesterday's candle close made a break above the triangle (red lines). Chart pattern breakouts are usually really good when the breakout has occurred into the trend direction. At the moment, the trend is definitely upwards and the breakout has occurred upwards, so, really nice. Also, the breakouts are more reliable on the higher timeframes. If the breakout above or below the chart pattern has occurred on the 1H timeframe then this is a bit weaker breakout than on the Daily, as it is right now, perfect! 3. EMA 8 & 21 on the 4H timeframe have a Golden Cross which is good confirmation for further movements upwards after the breakouts. 4. EMA 100 & 200 have a Golden Cross on the Daily chart, which is supporting that current breakout into the trend direction. 5. Break above the small Bull Flag. It has made yesterday but still, we can count this as a momentum sign. 6. We have an unusual chart pattern. Actually, we have a chart pattern but in an unusual area. The pattern is an Inverted Head and Shoulders(IHS). Usually, the IHS is a reversal chart pattern and it occurs at the end of a downtrend but currently, it is top of the trend and it doesn't work as a reversal pattern. Currently, it is just a small indication for further movements upwards and it should work as a slight continuation pattern. The pattern gets valid after the break above the neckline, let's say a candle close above the strong area at $8,200. Then we have again 2 in 1 - break above the chart pattern and break above the strong area at $8,200 7. Usually, the resistance areas getting weaker after every hour after every day when the price stays into the resistance area. If the price stays into the previously noted resistance or support area too long then it decreasing the trade success rate. Currently, we waited for throwback and actually we got it but the price climbed still back into this area and probably it is ready to make another leg upwards because it has been too long in this resistance area, which is actually pretty strong. 8. The last Weekly candle close gave us a 66% probability, over a small sample size, that the price may go to the higher levels. Over the past, the Weekly candle has closed above the $8,000 price level three times. Two times it has moved upwards: - Breakthrough on 2017 November guided the Bitcoin price into the ATH ( all-time high), close at $8,031 - Breakthrough on 2018 April guided the price to the $10,000 price level, close at $8,355 One time it had a fakeout - Breakthrough on 2018 July was a fakeout, close at $8,216 and next week the candle goes back below $8,000. 9. Lately, we have seen pretty good fundamentals and Bitcoin is again on the bigger picture. 10. Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You and this will help to pump BTC price into the higher levels! ;) Have a nice weekend, Cheers!
COINBASE:BTCUSDLong
by VaidoVeek
154
BITCOIN - The Triangle Tip Coming Closer = Explosion!?The time goes by and the price draws us multiple patterns but none of them have made breakouts which can make those active/activated. Over the night BTC price made a bigger descend comparing the last few days volume. It stopped on the previously worked support level exactly on the $7,600. Currently, this level has held us several hours and let's see do this level breaks or not. If it breaks then $200 fall and we have another one. This time there is an "old" resistance level which becomes support, it has worked also historically pretty nicely at $7,400. The $7,400 is a bit stronger level because there comes into the play one part of a drawn chart pattern - triangle bottom trendline. The Triangle The triangle should be an indication that soon we will see a decent action. Historically, it has guided the price nicely into the breakout directions, breakouts can occur in both direction but usually trend following breakouts are more powerful. The triangle tip getting closer and closer, the price smashed together and it is ready to explode. Now, we just have to wait for that breakout which finally should activate a pattern. To trade inside the pattern is a bit risky. If you can do it, please go ahead but my recommendation would be - wait for a breakout. Where and when the breakout gets confirmed? Bullish Breakout: First bullish confirmation should come after the 4H candle close above the $8,000. Currently, the well-known 8k level matching exactly with the triangle upper trendline and if the breakout occurs before 26. May then this should be pretty powerful. Why before May 26? Because if the time goes by then the gap between 8k and upper trendline getting bigger. Then the candle has to be pretty long to make 2 in 1 breakout. Before that date, the 2 in 1 is pretty powerful and you should wait for it. The breakout should be made by the strong/long bullish candle, this will show that the volume has been hard enough to beat the strong resistance and we can go into the fight with higher and important price levels just above the breakout. The climb into the higher prices is not easy after the escape from the triangle, between 8k and 8,5k, are multiple key price levels, there is strong resistance at $8,200, there are areas which should make an important impact on the short-term and long-term price structure - higher highs. The break above the triangle upper trendline is the first step to the 10k and the last step is a break above the $8,489 - long-term higher high. Still, we can't forget that last Weekly candle close which will be higher timeframe supporter for breakout upwards from the triangle, plus chart pattern breakouts are more powerful into the trend direction. Bearish Breakout: As mentioned before, the $7,400 is the key support level. There are the strong price level and the triangle bottom trendline crossing area. If this level breaks then we have a break below the triangle and the strong level is also cracked, so, it should be pretty clear confirmation area and actually the similarities compared to 2018 July is pretty insane: We can count this fractal as a confirmation after the break below the triangle. The first target is around $6,700, there is another strong price level and the 200EMA which should act as a support level. Currently, the altcoins are mostly on the daily minus side and they are also waiting for some action from BTC but soon the movement comes. Triangle tip comes closer after every hour and triangle tip has guided the price into the explosions multiple times! Prepare for the breakouts! Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers! *This information is mostly used for educational purposes only!
COINBASE:BTCUSD
by VaidoVeek
19
BITCOIN | $8,200+, Wait For Confirmation!Another analysis and other possible patterns around the $8,000. You should remember that the last Weekly candle close gave us a 66% probability, over a small sample size, that the price may go to the higher levels. This is our first tiny indications but we need some confirmations do be more secure about that because, as said, the sample size is tiny. Overall, to trade on the markets we should know how to enter into the trade. Basically, there are two major options: 1. Reversal trades - trades where you should search through the criteria the strong areas where the smaller wave/trend may end to jump into the bigger trend. 2. Breakout trades - different chart patterns and price levels allow us to jump into the bigger waves which will guide us into future profits but only after(!) we have identified the breakout area and after(!) we have got a confirmation through the candle close. At the moment we should look at the trade opportunities considering that point 2. We should search confirmations from smaller timeframes and if I say smaller then the 4H is the smallest timeframe on BTC price graph, then Daily and etc. There you can trust more securely those patterns and breakouts confirmations. As you probably have noticed, again the Head and Shoulders. This time it is Inverted Head & Shoulders (IHS) and it is a bullish chart pattern. To be said at first - that doesn't mean almost anything that this pattern formation is currently there. Almost? Almost because it could be an indication that this pattern helps us in further movements and you should be prepared after the pattern is completed. The IHS (and also regular Head and Shoulders) is ready, completed, triggered only(!) after the neckline breakout! Before that, it is just an indication/alert for you: "Soon we might get something" you should have this kind of mindset before that breakout from the neckline. So, the possible IHS is marked on the chart and it starts to work after the neckline breakout. The breakout area should stay slightly above $8,200. If the 4H candle gets a close around the green area then it should be valid. Currently, IHS is pretty beautiful because the shoulders are formed exactly in the strong gray area. The gray area is strong because the price has printed only rejections and only strong/powerful candles breakthroughs on this area. So, a pretty good starting point but let's make a little summary about the pattern breakout. There is the first green box just above the $8,200 and if we get a candle close inside or slightly above of it then we have: 1. A break above the round number $8,000 2. A break above the strong price level $8,200 3. A break above the IHS neckline which triggers the pattern 4*. Breakout is supported with EMA golden grosses on the Daily chart. 5*. And if we add here the mentioned 66% probability from Weekly chart then this breakout looks pretty powerful. If those breakouts have occurred then the price has to print new long-term higher high which stays above the $8,489 and actually the rally to the $10,000 may start. If the Bitcoin price doesn't reach above the IHS neckline, if the strong area (gray zone at $7,560-$7730) doesn't hold the price anymore and if the price starts to fall lower from a bit subjective trendline then you should be worried. Another 4H candle close below $7,400 might be a place where the panic button gets triggered. Currently, can't do anything we just have to wait! I just wait for that breakout upwards which gets confirmed after the 4H candle close above $8,200! Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers! "Putting on a winning trade or even a series of winning trades requires absolutely no skill. On the other hand, creating consistent results and being able to keep what we’ve created does require a skill. Making money consistently is a by-product of acquiring and mastering mental skills." – Mark Douglas *This information is mostly used for educational purposes only!
COINBASE:BTCUSD
by VaidoVeek
19
BITCOIN - 66% Probability For Further Growth!Do you remember one of my previous post about the $8,000 level? There is discussed about certain directions on the Weekly chart after the Weekly candle close. This discussed week is over and we have to talk this through because this is strongly on the agenda. Over the past, the Weekly candle has closed above the $8,000 price level three times. Two times it has moved upwards: - Breakthrough on 2017 November guided the Bitcoin price into the ATH (all-time high), close at $8,031 - Breakthrough on 2018 April guided the price to the $10,000 price level, close at $8,355 One time it had a fakeout - Breakthrough on 2018 July was a fakeout, close at $8,216 and next week the candle goes back below $8,000. Considering these small sample statistics then we have a 66% probability that the Bitcoin price can make a run to the $10,000 but let's search some confirmations and some price action criteria which will support that current move to the $10,000 and the confirmation area is pretty clean, if we can't reach higher than the confirmation level then this could be just another fakeout into the statistics. Why 10k? Simple, there just aren't any bigger resistance levels before that! Last week the second half was full of emotions, the big correction from $8,000 to $6,700 which was discoverable through the candlestick patterns, a jump back upwards which brought out the Head and Shoulders pattern. I made an update about the pattern and after every hour I started to regrate it because the count of Head & Shoulders discoverers on the TradingView made that pattern weaker and weaker - if everybody can see it then there is a pretty high % that it doesn't work out as planned and exactly what happened. Those actions weren't enough yet, on Sunday, we got a big and strong boost (let's call it a Bart move) to the higher levels and the Weekly candle got a close above the $8,000. As I said, we have a 66% probability that the price may go to the higher levels. The volume is high, several pumps and dumps here and there, so the market situation is risky and hardly recognizable, that's why we need confirmations and we have to search confirmations from the Daily chart. To be said - the next bullish confirmation should come after the Daily (or 4H, definitely better would be a Daily candle close because of the noise on the lower timeframes) candle close above the green line at $8,489. Then the BTC price has made breakouts upwards from: - The curve trendline , which has drawn from 5. March 2018. It played a significant role in the last week's correction from 8k to 6,7k, so, it is definitely a big break upwards after the close above of it. - The first clean resistance , also it played a significant role in the last week's correction and after a break above of this resistance it makes new higher high, which is great considering even the long-term market perspective. - The round number $8,000. - Plus, we have a Golden cross on the Daily chart between 100 and 200 EMA's There is also a little sign, we can call it even fractal or how they call it here but anyway, the last weekend printed into the chart a bullish candlestick pattern (shape) called Morning Star: From the bottom until the current time we have had three Morning Star candlestick pattern formations. To be said for the smarties, those aren't the textbook formation, as I mentioned here we have to talk about the shapes/indications but the major criterion has to be there - the third/last candle has to close higher than 50% of the first candle full range! Okay, we have had three Morning Star formations and after those formations, the price has made climbs upwards. The last one was before that rally from $4,000 to $5,000. I made that call and it played out very nicely, even more than expected! Currently, we have a fourth Morning Star candlestick pattern formation on the Daily chart. The Sundays candle completed the pattern and completed the Weekly candle which made a break above the $8,000! It is a really good sign if the candlestick formation is supporting the breakout from some patterns or from some certain price levels and currently, the EMA's Golden cross works also as a breakout supporter. Currently, it is a good confirmation because we made a break above the round number with Morning Star candlestick pattern which will be a sign for further growth. SUMMARY: We had a really nice last Weekly bullish candle close above the $8,000. The close end up on the Daily chart with a bullish candlestick pattern Morning Star which is a good momentum indication that the Bitcoin price can go higher in this week. Plus we had a small sample statistics that the pump may come with a 66% probability BUT the current situation is a bit risky and we need to get a confirmation. The next bullish confirmation to the $10,000 comes after the Daily or 4H candle (definitely, more reliable is a Daily candle close) has closed above the curve trendline, above the "first clean resistance area" which is also new HH area). Shortly I add a smaller timeframe analysis, about the strong levels below the current price, when this $8,000 breakout becomes invalid and etc. Feel free to support my effort by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers! "Trading rule 1: Predefine what a loss is in every potential trade. Trading rule 2: Execute your losing trades immediately upon the perception that they exist. By predefining and cutting your losses short, you are making yourself available to learn the a best possible way to let your profits grow." – Mark Douglas Read more about the $8,000 price level: *This information is mostly used for educational purposes only!
COINBASE:BTCUSD
by VaidoVeek
30
BITCOIN - TWO Bearish Chart Patterns!I have received several requests about the update so, I will fulfill your wishes ;) Last trading idea, from the strong area around $8,000 which got confirmed after bearish candlestick patterns was successful, the price dropped exactly to the lowest pointed strong area at $6,700. Really quickly it bounced back up and stopped exactly in the middle of those two price levels, yesterday it was really hard to say what we may see about next but today we have some conclusions about the situation on the market and I like to share those with you. As you already noticed on the image above, the price has started to draw a bearish chart pattern called Head and Shoulders. This is even a pattern inside a pattern situation because, as you watch that top very closely then there is a Double Top formation: The Double Top pattern is already valid and it's "working" because it has a breakout from the pattern neckline (as it is on the image) BUT really often the price retests the breakout area and after that, it continues to the breakout direction (shown on the image). Currently, this Double Top neckline retest matching exactly with the Head and Shoulders right shoulder, almost perfectly. We had before that drop from $8000 possibly two candlestick pattern to guide us downwards, right now we have two chart patterns which should guide the price down to the $6,000, let's see pretty interesting and actually, this level $7,800 is a pretty clean resistance level/Double Top neckline/Right Shoulder and it has multiple names - watch it closely! Remember, Head and Shoulders starts to work after the neckline breakout downwards! Definitely, the resistance around the orange line is pretty hard to beat but if the price still wants to make breakouts upwards then, remember, the confirmation was a Weekly candle close above $8,000 and the Bitcoin price should be heading into the $10,000. "What separates the “consistently great” athletes and performers from everyone else is their distinct lack of fear of making a mistake." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Previous analysis: This mentioned Weekly chart analysis: Have a nice weekend, Cheers! *This information is mostly used for educational purposes only!
COINBASE:BTCUSD
by VaidoVeek
6
CARDANO (ADA/USD) - Technically a Good Area!Criteria: 1. Fibonacci golden ratio 62% 2. Trendline 3. Historically worked very strong support area 4. Descending channel bottom trendline 5. The tiny round number $0.05 Yes, pretty far from the current price but we MIGHT see some bounce also from $0.07. NB: this area is definitely not so strong as it is around 0.05! "For the most part, a typical trader’s perception of the risk in any given trading situation is a function of the outcome of his most recent two or three trades (depending on the individual). The best traders, on the other hand, are not impacted (either negatively or too positively) by the outcomes of their last or even their last several trades." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Previous analysis worked out pretty nicely: Have a nice day, Cheers! *This information is mostly used for educational purposes only!
BINANCE:ADAUSD
by VaidoVeek
LITECOIN (LTC/USD) - Technically Good Entry Areas!Around $73, criteria: 1. Strong historical support area (orange line) 2. Ascending channel projection 3. Fibonacci momentum retracement ratio 38% Around $50, criteria: 1. Old strong price level worked as a support and as a resistance 2. The round number $50 3. Fibonacci golden ratio 62% 4. Trendline Last time we managed to discover that technically a good bounce area pretty nicely, hopefully, we see some actions in those levels as well! "Learning to accept the risk is a trading skill – the most important skill you can learn. When you learn the trading skill of risk acceptance, the market will not be able to generate information that you define or interpret as painful." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Previous analysis: Have a nice day, Cheers! *This information is mostly used for educational purposes only!
by VaidoVeek
1
BITCOIN - Correction Warning! Candlestick Pattern Indications!I would like to warn you about the current situation and about the current price action. The price action on the strong resistance area, "the first clean resistance" as I said one of my previous posts, looks like bearish BUT it needs confirmation and the confirmation should come after today's candle close!! Currently, the Daily candles have four rejections downwards from the $8,200. $8,200 level matching exactly with our clean resistance area and matching exactly with our well-known curve trendline which had three touches and currently, it makes a fourth: As you see, the area is pretty strong and if You have read my previous post about this $8,000 level then we don't stay here for multiple weeks to consolidate, the price is here to make a move and today I would like to give you one confirmation area where the bearish move should get confirmed. Candlestick pattern "Shooting Star" Currently, the price has been around $8,000 approximately four days but those days have been pretty informative. The second Daily candle rejection from the blue line at $8,200 gave us a bearish candlestick pattern called "Shooting Stars". This is correct Shooting Star, the body is perfectly 1:3 from the upper wick and it is pretty symmetrical , great, BUT this is a green one. Yes, it is a Shooting Star on the strong area but the green close means - sellers have started to come into the market BUT still, buyers dominated that day and they managed to hold that price up. It shows that sellers had an attempt to push the price down, we can't say that this is failed attempt but let's see, it is still a bearish candlestick pattern "Shooting Star" but it would be more reliable if it would be red (bearish). Candlestick pattern "Bearish Engulfing" Possibly, the second bearish candlestick pattern on the strong resistance area and this second one is more powerful than the first one, let me introduce to you - The "Bearish Engulfing". Why possibly? Because the candlestick patterns are ONLY THEN VALID WHEN THEY ARE CLOSED!! So, currently, we have to wait for that today's candle close which may give us that mentioned confirmation and this mentioned confirmation will come after the today's candle close below the red line, below the $7,831 price level. Overall, the Engulfing is a pretty strong indication especially if it is on the strong price level and currently the Bitcoin price is on the strong resistance: - The round number $8,000 has worked as a resistance - The curve trendline should act as a resistance - The first clean resistance after that pump from the bottom! To get that mentioned bearish Engulfing on this level, which is also supported by the hidden Shooting Star, would be a pretty nice indication for the movement downwards but let's see. SUMMARY: We have two bearish candlestick patterns on the strong area, the second candlestick pattern gets confirmed after today's candle close and if it gets a close below the red line $7,831 then it is an indication that the correction may start (altcoins are also started to make something). IF today's candle doesn't get a close below that mentioned red line then this idea is invalid! The correction is "on the table" ONLY then when it gets a close below $7,831! "The consistency you seek is in your mind, not in the markets." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers! *This information is mostly used for educational purposes only!
COINBASE:BTCUSD
by VaidoVeek
28
BITCOIN - The $8,000!Here is a quick overview of the $8,000 level. Definitely, it is an interesting level and interesting are also conclusions below in this analysis. Historically it has been a very strong area, multiple times it has worked as a support level and as a resistance level. If we start to count those rejections (smaller and bigger) then we get 10(!) rejections from the blue area. There is also one important factor which makes this area stronger. If the price want's to go through from it then it has occurred only with strong candles and there are 6(!) strong candles managed to push the price through the strong area! Every time when the price has reached into the marked area (blue marked area range: $7,700-$8,000) it makes something, so, here is the first conclusion - in this area, the long consolidation period is out of the options! Let's talk about the direction after the breakout or after the rejection. There are 10 rejections and 6 breakthroughs. Three candles have made a breakout upwards and from there, two times out of three the price has got a bigger and a smaller rally: - Breakthrough on 2017 November guided the Bitcoin price into the ATH (all time high) - Breakthrough on 2018 April guided the price to the $10,000 - Breakthrough on 2018 July was a fakeout So, we can do some math and we can say that a Weekly candle close above the $8,000 will be a sign that the price can go higher, at least two times out of three it has made a pump! Things getting more interesting, as I said, we have got a pretty high numerous count of rejections BUT if the price approaching that $8,000 level as a resistance, then we have only ONE bigger rejection from it and the one mentioned fake out - on 2018 July, a candle close above of it and next week quickly downwards. The bigger rejection was exactly one week before the ATH breakthrough in November. SUMMARY: This little overview and fifth-grade math will say that the price can take this level down but the sample size is not enough to say it "surely" and obviously, we need to wait for a Weekly candle close. In summary, if the price has approached this level from the bottom side then the breakthroughs and followthrough after that have been a more likely scenario IF this occurs but as said firstly the price has to close above the $8,000. The rejection is also valid because of the strong resistance which was in my previous post - below of this post. "If you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify patterns, define the risk, and determine when to take profits. The trade either works or it doesn’t." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers! *This information is mostly used for educational purposes only! Previous analysis:
COINBASE:BTCUSD
by VaidoVeek
12
RIPPLE (XRP/USD) - Do Not FOMO, Wait For Opportunities!Currently, the price is on the pretty strong resistance area (orange lines) and soon there is also an important trendline which should act as a resistance level. If you are a short-term or mid-term trader and if you want to buy it right now, then I have to say - do buy it on the tip and do buy it near the strong resistance is definitely a mistake, we need to wait for technically decent entry areas. First one is around $0.35-38 . This area has worked pretty heavily as a resistance level and if the market is healthy then it should be a classical role reversal situation - an old resistance becomes support. The second one is a bit higher but that's not a problem, because technically it is a great buy opportunity! We need a breakout confirmations to be more sure and secure about the next legs upwards. Wait for a break above the strong resistances (orange lines), wait for a breakout above the trendline and then wait for a trendline retest entry opportunity. "Wait, wait, wait", yes, you should wait for those, remember to be patient!! "1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique." – Mark Douglas Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You! Have a nice day, Cheers! *This information is mostly used for educational purposes only!
by VaidoVeek
7