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The diamond formation explained in terms of ADA's price A bearish confluence has arisen among all the current bullish signals. This formation is theoretically seen as a reversal pattern and is bearish based on the fact that the price originated from bullish movement. Although the price target of this formation is at $1.29, does not mean it will reach these levels tonight, however knowing crypto assets a 10% retracement is not an irregular occurrence. In order for the price to hit the TP, it will firstly have to break below the $1.40 mark which is a strong resistance level of the previous formation the price broke out of. Then the price would have to move below the 50% fib retracement level which is an extremely strong level of support and resistance. Only then would the path be clear for a movement down to the TP which happens to be a strong support level. I am seeing this current market as a strong accumulation phase and if the price falls to the TP it would just be a sign of the continuation of this phase, which is great news for those who are in the market for the long term. The further accumulation would benefit the ADA market as a reversal and breakout to the bulls will roll out with the release of smart contracts which will bring in further hype into the space resulting in a huge move to the bulls. My current opinion on the market in the short to medium term remains neutral with a bias towards the bulls on a slightly longer time frame, how ever there will be some blood in the street leading up to this point of course. A question for those of you who are scared based on the current situation with regulation over the crypto space. Don't you think that regulation is one of the best things that could come out of the crypto space? some would think I'm crazy for saying this, BUT hear me out. Regulation is only scaring in this sector because it has never been regulated before based on the fact that it was not as wide spread adopted than it is today, and regulation is just a sign from institutions and governments that the sector is more serious than one would think and this is a way of showing the mainstream that even they are starting to take crypto seriously, But in order to do so they will obviously want to be compensated for the rise of this revolutionary financial system of assets, which is fine, unless this news has the effect on you that temps you to sell your assets. This is not a good idea as you will dearly regret this decision, maybe not now but in the near future. Just remember that all sectors associated to any financial system or third party intermediary are taxed and regulated any way, so why is regulation in this sector so frowned upon... don't let the media cloud your logic to believe what is said is true. How do you feel about regulation in the crypto space? leave a comment and like and we can discuss this topic, related to any asset.
BINANCE:ADAUSD.P
by Crisp_Flow
AAVE/USDT about to explode!AAVE/USDT is breaking out from a descending channel. - It will retest the price between $233 - $242. (Buying zone) - Price is expected to reach a zone between $269 - $281. (Take Profit) Be aware that the price of most cryptos is deeply connected to how Bitcoin moves, if Bitcoin holds between $34700 - $36500 I strongly believe that AAVE can test the $281 resistance. Always do your own research. It's my first time publishing something, in my next posts I will give more details about the trade and the technicals behind it.
Long
by ClubCryptoTraders
2
Bitcoin H&S Target Touched 8 times. Bull run will resume soon.Pretty simple analysis here. I find that often simple analysis isn't any less correct than complex. Anywho, Bitcoin dropped perfectly from our neckline of the H&S pattern at around 50k, exactly where I sold. I then hit our target down from that neckline perfectly! You can see this target drawn on the chart. Here is where I immediately posted that we should all be buying. Though unintentional, I drew the target line weeks out. We've hit that target line now (or have come close) 8 times. Our upward resistance now becomes the ORANGE uptrend line from MID-OCT of last year. You can see we've hit our heads on that quite a few times as well. I expect it to break soon. However, the reason that this post is neutral, is because it has not broken yet. I am and have been fairly bullish ever since BTC hit 30k. That is obvious from my posts which you can view below. However, I will only become a full-on bull again once we break that overhead resistance (ORANGE trendline). And although I am mostly all in the crypto market again, my sell stops are fairly tight. This last resistance is huge and MUST be hurdled first. Happy trading all!
COINBASE:BTCUSD
by stewdamus
Triangle patterns - All you need to knowToday, we will explain the most important concepts behind triangle patterns. The first thing you have to know is that triangle patterns are composed of 5 waves which we can define using letters "a,b,c,d,e" This concept was created by Ralph Nelson Elliott, one of the fathers of modern technical analysis and mainly known because of the "Elliott Wave Principle." Most of the times , we are used to observing corrections with Zig-Zag shapes These are really easy to spot because C always goes below A, and we can say, "NOW is finished." However, with triangle patterns, we need more patience, its not that easy to say "now is ready" because we never have waves that go above or below the other ones; it's a constant compression. That's the reason it is imperative to wait for 5 clear waves. Another important concept of triangle patterns is that we can start drawing these two lines that will intersect in the future. These two lines will tend to contain the pattern until the breakout or the cancelation of it. Ok, let's assume that you had the patience to spot a clear triangle pattern. How should I trade them? ENTRY LEVEL: ALWAYS above "D" but much better above "B." Why? Because at that level, the price would have broken 2 resistances zones which is a strong sign for the bullish thesis. STOP LEVEL: ALWAYS below A that was the main support of the structure, so we want to exit our position if the price goes below that level TAKE PROFIT LEVELS: USE fibo extensions on the previous impulse and pay attention to two levels, 1.27 and 1.68 Important concept: Remember that context IS EVERYTHING. You don't want to trade isolated structures; you want to trade a structure and a macro context aligned with the view you have. Final idea: Here, we have used a Real example on TSLA. We think that the best way to show these theoretical concepts is by looking for real scenarios and testing them. Here we think that the corrective pattern is not finished, and we want to observe a clear ABDE before setting confirmation areas. It's important to know also that technical analysis is not mathematic; it's closer to soft sciences/disciplines. This means that Technical Analysis is not a fundamental science that explains all the movements of the market; that would be nonsense; technical analysis provides us with statistical guidance that can help us project a probabilistic scenario which can happen or not. Thanks for reading! Feel free to share your vision and ideas in the comment box.
NASDAQ:TSLAEducation
by ThinkingAntsOk
5
#banknifty analysis for 15th June'2021#banknifty analysis for 15th June'2021 Decision Zone:- 35,088 - 35,092 Resistance:- 35,350 / 35,550 - 35,650 Support Zone :- 34,930 / 34,801 /34,673 / 34,259 / 33,964 Reduced the time frame to 15 min, to capture intraday moves. I will try to post delta updates on a daily basis or if there is any significant change in structure. One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don't trade. E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won't. John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient. #elliottwave #nse # nifty #banknifty Regards, SG.
NSE:BANKNIFTY
by subhagghosh
4
BTC Log Cycles - Based on HalvingsExperimenting with Bitcoin high time frame log charts, I began to notice some patterns. Please note: This is a work in progress and by no means financial advice. Highlighted in yellow are two box areas, the rest is built around them. The similarity appears striking, imo. Does this mean the chart will continue to produce and follow these patterns? Log charts are generally meant for and used with curved lines. However, when one finds a straight forward geometric pattern between the last 2 major cycles and this one, based on halvings... couldn't help but continue to explore, and hope this is interesting for you too. I will continue to monitor and update, if this chart and pattern continues to make sense as it unfolds, and will attempt to simplify so it is easier to read. But wanted to post this before going to sleep, and again, this is only a work in progress. Any feedback, questions or suggestions are welcome. Best.
BITSTAMP:BTCUSDLong
by DestinyJV
6
HOW TO SET PROPER TAKE PROFITS AND STOP LOSSES 🧙‍♂️Knowing patterns is one thing and using them to the fullest potential is another. Above, we've depicted 3 major patterns commonly used by traders during a technical analysis (wedges and pennants will be covered next week). We all know how to notice them on the charts and general shapes. However, a lot of traders don't know how to act once they notice these patterns and we're here to clarify that. First, let's look at the proper entry points for these patterns. A general rule of thumb would be to enter the trade at the neckline once we get a closure below/above it. This way we can increase the probability of a trade and make sure the pattern is still valid. What about the take profit? Well, from tons of observations by a lot of talented traders there is a theory that the move following these patterns would be: 1) Double TOP/BOTTOM: the same as the distance from the neckline to the top or bottom 2) Head and Shoulders: the same as the distance from the neckline to the head 3)Rectangle: the same as the range of the rectangle This way we can maximize our profits made from the trades based on these patterns. Lastly, let's look at the Stop Losses for our trades. This one really depends on your trading style. More conservative traders (for instance, we like to keep our SLs tight as possible) would go with the mid-range of the pattern ensuring at least a 1:2+ Risk-Reward Ratio. However, if you're using this pattern as an indication that the price will follow further than the expected TP1, you may as well slightly increase your stop loss (not advised). This is pretty much what you have to do once you notice one of the patterns above and you want to capitalize on the opportunity. Safe trades and stay tuned for more posts! Ah also, it's Investroy's birthday this weekend, so if you have time, stop by and wish the HAPPY BIRTHDAY to the team :)
BITSTAMP:BTCUSDEducation
by Investroy
24
BITCOIN TARGET NOW 30000 USD. A roadmap towards the target!Dear traders, I have created a new 2 hour chart of Bitcoin so that you can better follow the price movement by clicking on the arrow on the right side of the chart. With the breakout of the neckline and bearish rising wedge, I see the following possible scenario happening. A re-test of the head shoulder formation and then a decline with the next support and resistance lines: 37604 37110 36177 33900 31287 30226 According to this analysis, the final goal of the possible decline is 30000 / 30226 USD. After that, another analysis will follow. Keep in mind the ALTS can fall faster than Bitcoin itself due to bitcoin dominance. Money then flows out of the ALTS back into Bitcoin. Trying to catch bottoms can be very risky and often require day trading and constant monitoring. After the bottom at 30000 we will most likely get another rebound but everything depends on the situation at that time. I trade what I see and not what I think. Totally without bullish or bearish bias. Just because that doesn't help you in trading. That is perfect for long term investors but we as traders will never sit so long in a position that can fluctuate 50% up and down. I myself had closed all my long positions long before the neckline was broken. This was because the Bearish rising wedge had been broken through but also by personal experience, you notice that the market was struggling with little volume. So because we had a heavy decline the possibility was already very high that it was going to be a countertrend move in a downtrend. That made it all that much more suspicious. As long as Bitcoin doesn't rise back above 42600 every rise remains suspicious and you have to take into account a sudden reversal. Good luck guys and as always, trade safely with stops and use money management to make sure you'll still be trading next year. Leverage is only for experienced traders who perfectly know what they're doing and use good moeny management. This is my personal opinion and experience not everybody have the same idea and that is perfectly fine. Please share your idea's what you think of Bitcoin and very important why you think that. Then we get an interesting discussion which can imporove your own trading. Wish you all good luck! Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research! --->> Traders please follow me for updates and give me support with a like👍. That motivates me a lot to continue💚!
Short
by PegasusTechCharts
29
Bullflag -The Bullish patternThe Flag pattern is one of the best-known continuation pattern in trading which happen after an uptrend.On-chart you can see a good pump and after a minor consolidation zone.This consolidation zone is important to calm down slowly indicators and calm volume,after this step we can see a growth of volume and a breakout What is the target of a bullflag? The first target of confirmed can be derived from measured move tehnique.The first target of bullflag is the vertical distance between the lower and the uper point of flag The second target is the size of the FLAGPOLE(measure the flagpole size and you will put this size at the breaking point from the bullflag It s important to book some profit also after the first target(size of flag). If the flag during too much will fail.Keep your eyes on it all time and have a stop-loss Have fun and good luck!
Education
by Rowhales
History Does Not Repeat, But Often Rhymes $BTCSome similar 3 weak new highs, followed but 1 new lower high patterns to compare. When trends have a loss of momentum and it is impossible to maintain you typically see these rounded top looking distribution patterns. The good news is that the 200 Day moving average is being tested. The bad news is that is Bitcoin cannot find the buyer support that it needs, then it could be a slow bleed or a whipsaw for the unforeseeable. Bulls must either buy like crazy or close margin longs and allows for a quick capitulation candle. A leveraged long shake out and bear trap could be just what the market needs in order for new liquidity. However if the Crypto class of 21' gets distracted by all the new sh*t coins and pulls out of BTC, then the flipping may be real and the BTC Maxis will panic.
INDEX:BTCUSD
by GreenAlpaca
2