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BTCUSD Trade Set Up Bullish Divergence|Double Bottom|The 200 MAHello Traders, Today’s chart will be an update on Bitcoins immediate term, which is quite bullish as we have a double bullish divergence and a recent double bottom. There are key levels to watch for a potential trade set up… Points to consider, - Clear double bullish divergence - Double bottom (Considering Wick) - Local resistance at $8480 mark - Structural resistance at $9360 - Stochastics projected upwards - RSI respecting trend - EMA’s giving price resistance - VPVR showing low volume of transactions - Daily chart still under 200 MA - Volume well below average Bitcoin’s immediate term will be very interesting as it can potentially confirm a bull market and or a re-entrance in to a bear market. Looking at price on the hourly chart shows us a double bullish divergence, where price is making consecutive lower lows whilst the RSI makes higher highs. This is in confluence with the potential double bottom; price tested the green zone twice and bounced, reversing the trend. Local resistance for bitcoin is a very key level to watch, price has been rejected from this area multiple times. A break from this area will confirm the bullish bias, allowing the bullish divergences and the double bottom to hold true. Major structural resistance is at the $9362 mark, this is a key technical level to watch due to its significance in the macro structure, a good place to take profits. The stochastics is currently showing upwards projection, we still have decent room to work with to the upside. RSI is currently respecting its trend, clearly diverging from price in this double bullish divergence. EMA’s are giving price resistance at current given time, it looks weak as we can see price trading within both EMA’s. The VPVR is quite interesting, we have a lack of volume transacted between the support and resistance segment, a break bullish can be a flush move up due to the lack of resistance in volume being transacted… Volume itself is well below average, we need to see a clear spike in volume to confirm an immediate direction for Bitcoin. Furthermore we have to keep in mind that Bitcoin has been trading below a key Moving Average, the 200 Daily MA, this is quite bearish at current given time. We need to see it break the 200 Daily MA , otherwise the trade set up will be negated… What are your thoughts on this trade? Will the bullish technicals hold true? Or will BTC fail to break 200 Daily MA and continue into a bear market? Please leave a like and comment, And remember, In trading, everything works sometimes and nothing works always.”
BITFINEX:BTCUSDLong
by AzizKhanZamani
Bitcoin Analysis on the WeeklyGood evening traders! Bitcoin is bouncing off of $7,700 support on the weekly, holding strong so far. Interestingly, starting in August, Bitcoin is following an odd green, red, red, red pattern weekly. So far, we appear to be in a green candle. Not that I can say I have firm reason to believe this will continue, but I would be skeptical of any red candle closes below $7,700. If I were in Bitcoin, my stops would be set up to protect the huge gap between $5,253.74 and $7,700. $10,148.51 is the next High Volume Node going in the opposite direction. It is noteworthy that as we zoom out on this chart, there is a more historic high volume node at the $6,400, which may provide support. These figures may seem far fetched, but we've seen some huge price moves in August and September, only time will tell if Bitcoin continues to bounce. Keep an eye out for my daily and 4h charts for some short term fun! I'll link in the comments. Disclaimer: This is NOT trading advice! These are merely my opinions that I have posted for educational reasons only. I hope you all kill it, but I am not responsible for any financial losses. Thanks for reading!
COINBASE:BTCUSD
by CryptoRichCrypto
LTCUSD Higher Low | Daily Support | Bounce Probable!Hello Traders! Welcome back to yet another update, todays chart update will be on LTCUSD, testing its 4 hour uptrend and daily support, a bounce here into local resistance may be probable. Points to consider - Trend bullish, consecutive higher lows - Bounce of major daily support - Local resistance is at .618 Fibonacci - EMA’s turning bullish - VPVR quite flat - Low Volume - Stochastics in upper region - RSI quite neutral LTC is currently testing a critical level; a respect will be quite bullish as this will be the third consecutive touch. A break from this level however will bearish as this level is in confluence with daily support. It is looking more probable for a bounce to take place due to the strong support; LTC has multiple technical confluences at current point. We have the daily structural support that is in confluence with the Fibonacci retracement (.786 level), furthermore we have the Fib – extension (1.414) being tested and has held true… Local resistance for LTC is at the .618 Fibonacci level, which is also in confluence with structural resistance, if a bounce where at play, LTC would be more probable to test local resistance… EMA’s are currently turning bullish, we need to see a confirmed cross, if price doesn’t hold current level and falls through support, then the EMA’s will continue to prove its resistance. LTC is experiencing low volume, well below average; we need to see a spike on volume to confirm direction of the trend. The VPVR is currently flat from current price level; a break either way won’t give much resistance for the buyers and or the sellers. Stochastics is currently in the upper region, it can flatten out and stay at current level, however, we can easily identify when its starts to project downwards momentum. The RSI has bounced of support and now currently in neutral territory; it still has a fair way to go to reach overbought territory… IMO, the technical target for a bullish scenario would be the local resistance, .618 Fibonacci Level, this is quite probable due to the very strong support LTC has a current level… What are your thoughts? Will this key support hold true or will LTC break and test lower regions? Please leave a like and comment And remember, Never chase the market for trades. If you have a losing streak, take a break and let your emotions cool down.
COINBASE:LTCUSDLong
by AzizKhanZamani
BTC Bullish Divergence and CME Gaps Filled!Hello Traders! Today’s analysis will be on Bitcoin’s recent developments, Bullish Divergence and CME futures gap filled, could a bounce be more probable from current rage? There are a few technical indicators that point towards a market bounce Points to consider, - Clear bullish divergence on hourly timeframe - Major resistance at .236 Fibonacci level - Major structural support at 8K level - Stochastics turning bullish - RSI respecting upwards trend - VPVR showing low volume of transactions - Volume well below average - Volume climax candles - EMA’s yet to meet price Bitcoin has finally filled its CME futures gap around the $8,000 mark where it held support and traded this region to form a potential bullish divergence. Price is making lower lows whilst the RSI makes consecutive higher highs. Local structural resistance for bitcoin is the $9,200 mark, which is in confluence with the .236 Fibonacci level. A break from this level will be quite bullish… The stochastics are on the verge of turning bullish, signifying that the downside steam has cooled of and a move upwards is more probable. RSI is respecting it’s upwards trend, we need to see it continue to diverge from price, and this will cool of the indicator from oversold conditions… VPVR is quite interesting, as there is no high volume traded between current support and resistance, a bull move up would not experience heavy resistance due to lack of volume traded between the two regions. The volume profile is also quite interesting; we’ve had multiple volume climax candles and large wicks being bought back up. This signifies a strong level of support that is defended by the bulls. The EMA’s have not yet reached price so, at current time being, it is bearish until we see a bullish cross… It is more probable for Bitcoin to bounce and retest local support; it would be a natural market reaction after a straight flush down. This is supported by the tentative bullish divergence forming at current given time. What are your thoughts on Bitcoins current price action? Please leave a like and comment And remember, A streak of winning trades can boost your ego and self-confidence to such an extent that you start believing that you’re invincible. If that is the case, try to take a break from trading to calm your emotions down.
BITMEX:BTCUSD.PLong
by AzizKhanZamani
ETHUSDT Symmetrical Triangle and Critical Area! Hello Traders, Welcome back, today’s update will be on ETHUSDT , an epic short from previous technical analysis!, will ETH continue or rebound back, IMO I think we’ve still got further downside potential… Points to consider - Respect of the .236 Fibonacci Level, in confluence with daily support - RSI grinding on its resistance - Local resistance at .50 Fibonacci Level - Stochastics projecting more downwards momentum - Volume declining rapidly after climax - Symmetrical Triangle formation, Equilibrium yet to break ETH was showing signs of retracing but it did really fall off a cliff , mainly fueled by BTC’s recent correction. Price is currently holding and respecting current Fibonacci Level, this area is very critical as it’s of confluence with strong structural daily support. The RSI is currently grinding up against a key resistance line, where above it; ETH tends to be in a bullish trend (Green Box). Currently we are trading below resistance, signifying that ETH is still in a bearish trend , if not broken (Red Box). The Stochastics are quite interesting, it too has rebounded off resistance and now trading in a neutral zone, however, it still is projecting more downwards momentum… The overall volume has been declining, currently below average; we’ve had a volume climax candle that showed buyers being strong below daily support. An increase in bull or bear volume will signify which way ETH is headed. IMO , it looks like ETH is forming a pattern known as a Symmetrical Triangle on the hourly, in other words, equilibrium before a continuation. We can clearly see this on the hourly time frame. Price is consolidating on the .236 Fibonacci level, coming closer to the triangles apex. A break bearish of this triangle is more probable at current given time, only cause; we’ve entered the pattern on a strong downtrend… A bearish break will break key structural support; ETH will most likely test lower local support around the $127 mark… What are your thoughts? Is this a symmetrical triangle? Please leave a like and comment And Remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Short
by AzizKhanZamani
BTCUSD Consolidation Before Continuation! Hello Traders! BTC breakout came to fruition, major structural support broken, hope you all profited from this long awaited breakout! What Now? Points to consider, - Key structural support broken, now resistance - Price testing lower support, in confluence with .50 Fibonacci Level - Important CME gap filled - $8490 - $9053 - Volume climax - RSI severely oversold - EMA’S yet to reach price - Stochastics a flat bottom Bitcoin finally broke out of this now confirmed descending triangle that was developing over the past couple months, needless to say it was imminent this week. Price flushed through its support (now resistance) with large volume confirming that it was indeed not a false breakout. Bears pushed price down to the .50 Fibonacci level where it is currently being held as support. The .50 Fibonacci area is of major significance as it’s in confluence with structural support and will as the CME Futures Gap. The RSI is severely oversold at current given time; it has also broken its strong base of support (red line), flushing to extreme levels of 10. The stochastics is at a flat bottom, we need to see it show some upwards projection at some point. EMA’s are yet to meet price, we don’t know what significance its will prove a current given time… It is probable for Bitcoin to have a relief rally after this impulsive move down from its descending triangle formation. A retest of its now current local resistance will cool of all other indicators before another potential move downwards to the .618 Fibonacci level. Another probable scenario is that Bitcoin consolidates at current level before another flush down, this will be quite similar to the previous bear market where cycle… What are your thoughts on Bitcoins breakout? Please leave a like and comment And remember “The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.” – Victor Sperandeo
BITMEX:BTCUSD.PShort
by AzizKhanZamani
AUDUSD Triple Bottom?Hello Traders! Another update today, this time it’s AUDUSD pairing, possible triple bottom? Points to consider, - Major resistance at 0.688 - Price retraced back to .618 Fibonacci level - Stochastics showing upwards momentum - RSI broke out of its apex - EMA’s projected to turn bullish - Bull Volume has been increasing The AUDUSD pairings has had a major sell off where it rebounded back into structural resistance after being bought back up by bull volume, potential triple bottom. Price retraced to the.618 Fibonacci level, held and respected it as support. The RSI subsequently broke out of its apex in confluence with the respect of the .618 Fibonacci level, it still is in neutral territory with more upside potential. The stochastics is also showing strong projection of upwards momentum currently. EMA’s for the parings are looking to cross bullish as price is held support by current Fibonacci level, we can also see increasing bull volume which is healthy for price to retest local resistance… It is more probable for price to retest upper resistance and or establish a potential trend line coming into resistance; an ascending triangle would then be more probable… What are your thoughts? Please Leave a like and comment, And remember, “Gamblers obsess with big potential upside windfall profits. Intelligent speculators obsess with managing downside risk.” Peter Brandt
Long
by AzizKhanZamani
XRPBTC Retraced, What Next?Hello Traders, Today’s update will be on XRPBTC from previous technical analysis, the retrace happened, what next? Points to consider - Price retraced and tested new support (R/S – flip retest) - Price respected .618 Fibonacci Level - Local resistance is .382 Fibonacci Level - EMA’s giving price resistance - RSI respecting trend line - Volume Declining - Stochastics neutral - VPVR on a steady decline in transactions - Possible consolidation before next leg up Ripple has managed to retrace back to its new support and respected the .618 Fibonacci Level before a small bull impulse move up. Small local resistance for ripple is along the .382 Fibonacci level, price is trading within a small range as of now. EMA’s are currently providing price with resistance, pushing it down towards local support. The RSI is currently respecting it’s upwards trend line; a third bounce from here will prove its significance. The stochastics are currently neutral; we don’t really have a projected direction with conviction… Volume is noticeably declining, we need to see an increase in bull volume if price where to respect support and head higher. The VPVR shows a clear decline in the level of transactions heading up, with increased bull volume, price can easily test upper levels. It is more probable for Ripple to consolidate in the orange box before making another impulse move… Furthermore, we do need to keep in MIND Bitcoins Breakout; this can negate any setups in any ALTS What are your thoughts on Ripple? Will it respect support or break through it? Please leave a like and comment, And remember “Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” Yvan Byeajee
by AzizKhanZamani
ICXBTC Ascending Triangle | Bull Volume?Hello Traders! Today’s chart update will be on ICXBTC pairings, Potential Ascending Triangle, Points to consider, - Trend currently bullish on 240 timeframe - New Higher Low potentially in place - Structural resistance in confluence with .382 Fibonacci Level - Stochastics showing upwards momentum - RSI bouncing of local support - Volume extremely low - EMA’s holding price support but looks weak - Potential Ascending triangle forming (bullish pattern) ICX/BTC pairings has being putting in structural lower highs coming into a major resistance zone that is in confluence with the .382 Fibonacci level, a break will only come to fruition if we see an increase in volume, which is currently below average… The stochastics currently has momentum projected upwards, which is necessary as ICX is currently testing it’s upwards trend line, putting in its next potential higher low. The RSI is quite neutral as it bounces of current local support; we do need a third touch to confirm its significance though. The EMA’s are trying to hold price as support, however does look quite weak as we don’t have the required bull volume as of yet. Price action overall looks like its forming a potential Ascending Triangle, which will break bullish from local resistance if volume shows up, otherwise a fake out will be on the cards. A break can see us test the .50 and .618 Fibonacci levels respectively, as these levels are off significance compared to previous price action. What are your thoughts? Will ICX break bullish when testing resistance, or will lack of volume reject price? Please leave a like and comment And remember Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment - Joe Vidich
Long
by AzizKhanZamani
2
ETHUSD Bearish Divergence or Continuation? Hello Traders, Hope your enjoying your Sunday! Today’s chart will be an update on ETHUSDT paring, potential bearish divergence or a continuation? Points to consider - Current parabola trend - Consecutive Higher Lows in place - Respected resistance - Testing local support (Potential New Higher Low) - RSI coming into apex - Stochastics in lower levels - EMA’s giving price resistance - Volume Climax - VPVR showing low volume of transactions Ethereum has had an impressive run in the past couple weeks as the charts show us a clear parabola that is potentially showing signs of topping out. ETH respected its upper structural resistance and retraced back to the .236 Fibonacci Level, which is the current local support. This support is quite strong as it is in confluence with the parabola trend (Purple Line), the .236 Fibonacci Level and current potential local support (Orange Box). This is quite similar to the previous orange box where price consolidated on the .786 Fibonacci Level with the Parabola line as support before the next impulse move up… An impulse move up would increase the probabilities of creating an ascending triangle formation in the near future – which is usually a continuation pattern… There are signs showing that ETH has a greater probability of correcting as we have a bearish divergence in the chart. Price managed to put in higher highs as the RSI puts in lower highs consecutively. The RSI is also approaching its apex zone; currently its testing its own local resistance, a bounce could be probable… The EMAs are giving price resistance due to the recent bear cross; this is quite bearish as we see other indicators such as the Stochastics being projected downwards. A break of current local support will allow bears a greater control as we see the VPVR showing a shallow area of transactions under current the Fibonacci Level.,, Overall, A break of the parabola, local support and Fibonacci level will be quite bearish, a retesting of the .618 Fibonacci is more probable A respect of the parabola, local support and Fibonacci level will prove bullish, creating a potential ascending triangle (confirmation on third touch), which is quite similar to previous price action… What are your thoughts? Will a correction be more probable of a continuation? Please leave a like and comment And remember “Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” - Michael Marcus
Short
by AzizKhanZamani
ADABTC Potential Trade Set Up! Hello Traders! Welcome to another update, Today’s chart will be on ADABTC pairings, potential trade setup Points to consider - Trend recently putting in higher lows - Price tested major resistance - .618 Fibonacci Level - RSI testing upwards trend line - Stochs showing upwards momentum - EMA’s giving price support - Volume increasing, above average - Potential Bull flag formation ADA has recently experience an increase in bullish volume which pushed price to test local resistance being the .618 Fibonacci Level, where it was then rejected and starting consolidating in a small range… The EMA’s have been holding price as support whilst a bull flag formation comes to fruition right under the local resistance. The extrapolated target for this bull flag will push ADA to next upper level resistance. The RSI indicator is currently respecting it’s upwards trend, which is quite bullish unless broken. Similarly the Stochastics is also showing bullish signs as it projects momentum upwards… A break bullish break from this formation will make ADA retest the .618 Fibonacci resistances, if volume increases upon this break; it is more probable that ADA will continue its bullish trend, putting in another higher low… What are your thoughts on ADA’s potential bull flag? Please leave a like a comment And remember “Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.” -Jesse Livermore
Long
by AzizKhanZamani
BTCUSD TIMES TICKING! Hello Traders! Late but an update on Bitcoin! Times ticking break outs coming… Points to consider - Trend is technically putting in higher lows - Bull impulses getting smaller, Breakout Imminent - Volume rapidly declining - RSI neutral - Stochastics neutral - EMA’s neutral - Still no trade till breakout Bitcoin really is on the verge of a breakout as all technical indicators are pointing towards a massive movie. Price has technically being putting in higher lows coming into its apex in the macro chart formation. Volume noticeably has been declining, which further indicates a breakout is upon fruition. Other indicators such as the RSI and Stochastics are quite neutral at current given time – calm before the storm scenario… The EMA’s aren’t really giving price any support nor resistance, it’s simply trading sideways with Bitcoin… A breakout is highly imminent before the 9th of October as this is the very end of the apex in this macro structural formation... What are your thoughts? Will Bitcoin breakout bullish or bearish? Please leave a like and comment And remember, When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. – Henry Ford
BITFINEX:BTCUSD
by AzizKhanZamani
1
TELSTRA DOUBLE BOTTOM EMA BULL CROSS?Hello Traders, Another chart worth having a look – Telstra Corporation Limited ASX Points to consider - Monthly double bottom - EMA’s turning bullish - Broke resistance, turned potential support - Stochs testing upwards region - RSI Testing upper level resistance TELSTRA is looking quite similar to previous price action before a 92% rise in value! We can confirm that price has put in a monthly double bottom which is quite bullish; price was also able to break multiyear resistance with strong bull volume. We need to see bulls retest this resistance and confirm as support before we see another leg upwards. The EMA’s are close to turning bullish at current given time, this will be confirmed by more bull volume and a retest of the now potential support. There are sparkling similarities between the previous rise in TELSTRA to where is it currently. We need to see the stochastics hold upper region in the highlighted box. Also the RSI needs to break local resistance and hold upper regions to support bullish price action. The VPVR shows decreasing levels of transactions from this current point, we can use this knowledge to dictate to probability of price being able to reach local resistances. The next couple months will be interesting for TELSTRA is the bullish EMA cross and Double Bottoms holds true, we may be in for a bull trend if the probabilities hold true… What are your thoughts on TELSTRA, will it confirm support or break down bearish from this point onwards? Please leave a like and comment, And remember “All the math you need in the stock market you get in the fourth grade.” -Peter Lynch
ASX:TLSLong
by AzizKhanZamani
CRON TESTING TREND LINE!Hello Traders, Welcome back to another chart, Today’s chart will be on the MJ sector – CRON Points to consider, - Price is trending bullish up retest of trend line - Local resistance a .618 Fibonacci Line - RSI coming into apex - Stochs testing resistance - EMA’s giving price resistance at current given time - Volume is well below average - VPVR, showing low volume of transactions from current point - Current support is being held by the Fibonacci extension – 1.272 zone CRON is in an interesting place at current given time, it is testing it’s upwards trend line, CRON bulls and or bears have an opportunity to take over from this point… Price is currently testing support being provided by the Fibonacci Extension which is in confluence with the upwards trend line. Bull have the probability of pushing price up from here as CRON has had a major downwards rally, it would only be natural for the price to have a relief rally… The RSI is getting closer to its apex whilst the stochastics is testing its local resistance. Volume is currently well below average, we need to see an increase in volume if price where to break either direction. If CRON is able to respect its trend line, then the probability of retracing back to the .618 Fibonacci is more favourable, posting a potential gain of 20.56%. However if bears break this support and trend line, then CRON can test next lower local support, posting a gain of 27%... A break either way needs to be confirmed with volume, the VPVR shows low levels of transactions from this point both ways, price should be able to reach targets comfortable upon breakout… What are your thoughts? Will CRON respect trend line or break bearish and test lower levels? Please leave a like and comment And remember, “Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager
NASDAQ:CRON
by AzizKhanZamani
6
BTCUSD Hourly Inverse Head and Shoulders! Hello Traders!, Update on recent BTC developments!, New potential formations on the chart, Hourly Inverse Head and Shoulders! Points to consider, - Potential Inverse head and shoulders - Trend is currently consolidating - .618 Fibonacci acted as support - Price testing neckline - Potential Triple top if price meets calculated target - RSI respecting up trend - Stochs showing upwards momentum - VPVR showing decreasing volume of transactions - EMA’s giving price support Current price action is showing us that bitcoin may be developing an Inverse Head and Shoulders pattern, valid only if price breaks neckline! There are signs in the chart that increases the probabilities of this being and actual Inverse H&S, the trend is currently consolidating after it was found with support from the .618 Fibonacci retracement zone. Price retraced back to the neck line zone as the EMA’s come into play by giving Bitcoin support… The RSI is quite bullish as it is respecting it’s upwards trend. Furthermore, the Stochastics is showing upwards momentum as price comes into the neckline… This formation is only valid if bitcoin breaks the neck line, which has a calculated target near the next local top. The breakout needs to be confirmed with above average volume… Keep in mind that the target could post a potential triple top if bitcoin decides to reverse, so it’s a good area to take profits if this does play out! What are your thoughts on BTC’s recent developments? Is this a potential inverse head and shoulder? Please leave a like a comment And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
BITFINEX:BTCUSDLong
by AzizKhanZamani
EOSBTC BULLISH DIVERGENCE !?Hello Traders! Today’s chart will be on EOSBTC, potential bullish divergence! Points to consider, - Bullish cross on EMA’s - RSI broke resistance - Volume picking up slightly - VPVR showing low volume of transactions - Price putting in lower bottoms as RSI puts in higher bottoms (Bullish Divergence) EOSBTC is looking quite interesting on the daily timeframe as it may be looking to change market structure and turn bullish. The RSI recently broke resistance and has further upside potential upon retest of the now turned support, previous resistance. Price has been putting in lower lows whilst RSI has been establishing higher highs, classical bullish divergence. Volume has also been picking up, we need to see this sustain if EOS was to test local resistances. The EMA’s are currently crossing bullish, which is another sign that EOS is ready for further upside movement and with the VPVR showing low volume of transactions, EOS bulls shouldn’t have much issue reaching resistant targets, posting gains of potential 42% and up to 92%! We much consider the market as a whole, the crypto market is very uncertain, this whole set up can be negated by BTC’s moves so we must use risk management and stop losses! What are your thoughts on EOSBTC recent developments? Will bulls come to fruition and break local resistances? Or will we see EOS roll over and retest yearly lows? Please leave a like and comments And remember, “You’re going to learn a million things, then you need to forget them all and focus on one.” – SunriseTrader
by AzizKhanZamani
BTCUSD Falling Wedge Breakout But Low Volume! Hello Traders, Update on Bitcoin’s recent developments, Points to consider, - Trend bullish short term - Price testing resistance (around $10440 Zone) - RSI respecting upwards trend line - Stochs showing downwards momentum - EMA providing support but looks weak - Volume below average, even after breakout of falling wedge Bitcoin was trading in a falling wedge pattern that recently broke bullish; the calculated target sits at around $10,604.00 The trend is bullish in the short term as bitcoin has been respecting the upwards trend line that is coming into local resistance, red zone, which is in confluence with the .382 Fibonacci Zone. This area is of strong resistance as previous price action has been rejected multiple times… The RSI is respecting the upwards trend line, if we see a break of this line, then bitcoin is more probable to return back to the overall trend. This would make a lot of sense as we see the Stochastics showing clear downwards momentum… The EMA’s are holding price as support, however does look quite weak as the resistance above is to strong at current given time. The volume is below average signifying that bitcoin may not reach the calculated target of the falling wedge. We need strong notable volume to break through theses strong resistance zones (Red Areas) Bitcoin is more probable to retrace back to the trend line due to the lack of volume and the strong resistance lurking above… What are your thoughts? Will Bitcoin meet target or retrace from current point? Please leave a like and comment And remember, “If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
COINBASE:BTCUSDShort
by AzizKhanZamani
ACB RESPECTING TRENDLINE ! Hello Traders, Today’s chart will be on ACB – AURORA CANNABIS INC, respected trend line perfectly! Points to consider, - Trend overall bullish - Broke resistance, now potential support on re-test - EMA’s turning bullish - Stochastic showing upwards momentum - RSI broke its resistance - Volume starting to increase - Next local resistance areas are the .382 and .618 Fibonacci Zones ACB has perfectly respected the upwards trend line and has broken local resistance now turning potential support upon retest. The EMA’s have turned bullish upon this break signifying that further upwards is more probable. The RSI is quite bullish at given time too, it has broken its major resistance line thus has further upside potential; this will allow bulls to push price into next local resistant zone (.328 Fib). Furthermore, the stochastic's are showing upwards momentum, however it’s starting to look over extended, we may see it cool of, this will allow for price to retest support before heading back up… Volume is starting to pick up, very healthy in this break from resistance, we need to see the volume maintain a steady increase for this area... Bulls can potentially test next resistant zone at the .382 Fib, posting a gain of around 18.64%, if a break of this zone comes to fruition, then a test of .618 Fibonacci is probable, posting a 50.81% gain! What are your thoughts on ACB? Will bull have the momentum to push through local resistances? Please leave a like and comment And remember, “It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros
ALong
by AzizKhanZamani
NEOBTC BULLISH DIVERGENCE !?Hello Traders! Today’s update will be on NEOBTC, potential bottom and bullish divergence! Points to consider, - Overall trend is still bearish - Next major resistance is at .50 Fibonacci Retracement - RSI respecting uptrend (Need third touch to confirm) - Stochs showing upwards momentum - Volume declining - EMA giving price resistance currently NEO could be putting in its bottom after breaking its major structural support; the trend is still quite bearish, however we do see a potential bullish divergence The EMA’s are currently giving price resistance, bulls need to cross the EMA’s bullish for the divergence to be intact, with the volume being low, we need to see it increase for confirmation… The stochastics is showing further upwards momentum, this is quite bullish as it goes hand in hand with the RSI’s recent developments… What are your thoughts on NEOBTC? Is this a bullish divergence in fruition? Please leave a like and comment And remember, “If you can learn to create a state of mind that is not affected by the market’s behavior, the struggle will cease to exist.” – Mark Douglas
by AzizKhanZamani
BTCUSD DESCENDING TRIANGLE!Hello Traders! Welcome to another update, today's chart will be on BTC, hourly timeframe! Points to consider, - Clean descending triangle - Potential retest of support - Trend putting in lower highs - RSI respecting downwards resistance - Stochastics showing downwards momentum - Low volume - EMA’s giving price resistance - VPVR showing decreasing transaction from current price It is pretty clear that BTCUSD in forming a descending triangle which is a bearish formation bound to break to the downside. We have clear lower highs being put in and a strong flat base of support, which has been tested multiple times. In this lower timeframe, we, with a high probability could see a retest of the support base, price is currently testing the upper resistance trend line… The RSI is looking quite bearish, we can see that it is respecting it’s downwards resistance, also putting in lower highs. Furthermore, we have the stochastics showing more potential downwards momentum being at play. EMA’s are currently giving price resistance as bulls try to defend local support, this support however does like quite weak (Red Line). If this local support is broken, then bears are able to push price back down to support, posting a potential 7% + move to the downside... However, if bulls are able to break this strong resistance, then the whole descending triangle is negated, we will then need to reanalyze the situation. What are your thoughts? Will BTCUSD retest its support? Or will bears break through resistance? Please leave a like and comment And remember, If you personalize losses, you can’t trade.” – Bruce Kovner
BITFINEX:BTCUSDShort
by AzizKhanZamani
CWEB Trade Set Up! Hello Traders! Today’s chart will be on CHARLOTTES WEB HOLDINGS, a pot stock to keeps your eyes on! Points to consider, - Overall trend bullish - Price respecting upwards trend line - Bulls testing major resistance - RSI respecting downwards trend line - Stocks showing downwards momentum - EMA’s providing price support but looks weak - Very low volume CWEB chart is very clear at current given time; shows us exactly what key levels to watch for the bulls and bears. The trend has been putting in lower highs over the couple months, with price now testing resistance, gives us a good trading set up! The RSI is respecting the downwards trend line as the stochs continue to show downwards momentum. It’s important to consider that the volume is very low at given time, as when we see a breakout, it is expected that volume will increase drastically. If bulls are capable of breaking local resistance, we can witness gains of up to 20% and vice versa if bears are able to break upwards trend line… What are your thoughts on CWEB? Will it break bearish or continue its bullish momentum? Please leave and like and comment, And remember, “You never know what kind of setup market will present to you; your objective should be to find opportunity where risk reward ratio is best.” ― Jaymin Shah
TSX:CWEB
by AzizKhanZamani
1
BNBBCT Potential Bounce!Hello Traders, Today’s chart will be on BNBBTC pairs. Potential bounce could be at play! Points to consider, - Trend has been bearish overall - EMA’s providing price support - Price coming into structural support, in confluence with the .618 Fibonacci zone - Potential falling wedge pattern - Bear impulses getting smaller - Volume has steadily been declining - RSI is in over sold conditions - Stochastics showing potential upwards momentum BNBBTC chart formations tell us that a potential bounce is more probable from this current zone. The overall price action has been bearish, putting in lower lows in this potential wedge pattern that is coming close to its apex. The bears have been able to push price into support (green zone), that is in confluence with the .618 Fibonacci zone. With the wedge coming into its apex, we can expect a market bounce from this area. However, this will have to be confirmed with strong bull volume as it has been declining steadily. Furthermore, BNB bulls have to turn EMA’s bullish for upside momentum... The RSI and Stochs are both over extended and are due to return back to neutral conditions; overall it would be natural to see a market bounce from these extended areas. What are your thoughts? Will BNBBTC bounce from this area posting a potential 22% gain? Please leave a like and comment And remember, It does not matter how slowly you go as long as you do not stop.” - Confucius
by AzizKhanZamani
EOSUSD Testing Major Support!Hello Traders! Bit under the weather today, but here to post a daily chart! Today’s analysis will be on the good old EOSUSD! Points to consider - Daily overall trend bullish, potential Higher Low in at current given time - RSI is coming into its apex - Stochs in lower region - EMA’s giving price resistance at current given time - Volume has dried up drastically - Price is testing major support level EOSUSD is in an interesting area as with all other major ALTs in this current market conditions. Price has retraced from local resistance zone sharply into major support area (green zone). The RSI has yet to come to fruition, getting closer into its apex. The EMA’s are currently giving price resistance right on support, EOS is bound to break bullish and or bearish from this area, this will be confirmed with large volume, as the current volume ridiculously low… If break of support, bears can easily push price down to next resistance, posting a 39% gain on short If break bullish, above EMA’s, Bulls can push price back to previous resistance posting a 157% gain! What are your thoughts on EOSUSD’s charts? Please leave a like and comment And remember, Do not be embarrassed by your failures, learn from them and start again – Richard Branson
BITFINEX:EOSUSD
by AzizKhanZamani