Charted_Trades

Charted_Trades

Bitcoin`s price action is moving in a range for a while. We know that those sideways periods are typically Accumulations or Distributions. At this point, I don`t have solid opinion on the direction of the next move so I am waiting for clues. In this Idea I want to warn about something that many traders fall into. It is the TRAP that Market Makers do to trigger...

Charted_Trades

Stock Market completed the third wave of the downward move. There is a high chance for it to make a corrective wave to the upside to test the nearest Resistance zone at ~ 4500. If so, Bitcoin and Crypto Market will benefit too.

Charted_Trades

Luna is showing a textbook price action. It is having a correction after the first impulse wave and now is testing the major Fib. Levels. If Bitcoin is stable, the next impulse wave for Luna should reach ~120$. Luna is also above the SMMA 200 Period.

Charted_Trades

After thousands of hours staring at the charts I can simplify the Market Structure like this. Of course there are different shapes and forms but the waves are the same. This cycle repeats on all timeframes.

Charted_Trades

The RSI downtrend is in play but the range is getting thinner and soon the buyers will step in to make an attempt to break it and than re-test it. I don`t have the crystal ball but no trend lasts forever for sure. Expecting a volatile end of February and bullish beginning of March.

Charted_Trades

I dont know how many of You use the Spider Lines in Your trading routine but they are deffinately worth the attention. Just look how the price action reacts every time it comes near them. I will make short tutorial soon how to set them up.

Charted_Trades

I don`t have to say anything here. It`s basic TA. Just a matter of time for the trend to be tested ( and probably broken ). USD is loosing value anyway so no surprise. Expect Major Global events in the next few Years.

Charted_Trades

Most people use horizontal Support and Resistance Zones but with the Spider Web technique they become more like diagonals. And Yes they work pretty good. So the lines are saying that 40k is not the last stand, 36-37k is stronger.

Charted_Trades Updated 

IF #Bitcoin finds resistance at 44-45k level that may be the end of this wave. So the correction should end near the 0.5 Fib level at ~41k. That coincides with the support from the 200 Smooth Moving Average.

Charted_Trades

I am sharing this because I see the mass of People are using the 200 Period Moving Average ( the YELLOW line) and aren't aware of the Smoothed Moving Average (BLUE line) I am not saying that one is better than the other. They both provide strong zones of Support and Resistance. If You want add them to Your charts and go through different timeframes to observe...

Charted_Trades

Bitcoin found support on the 200 Smooth moving average. Good news but probably not for long. There is key resistance zone overhead. Btc might make just a higher high that could be heavily shorted or just to be rejected at that zone. Remember macro downtrend is still in play. On the other side, If we trust the Fibonacci retracement tool on the macro scale ,...

Charted_Trades

Bitcoin's relief rally is having a correction now. May be this is the 2nd wave out of total 3 in this trend. Using the Fib.Retracement tool I can see that the golden 0.5 level is around 52k. This might be just enough to hype again the people seeing Bitcoin above major level at 48k and than flush them all. Who knows.

Charted_Trades

Bitcoin is having a relief rally since it bounced from the 32k support. The first wave of the rally is due for correction, but this is for the short term. My focus is on the Daily timeframe and what I see is the incoming test of that MAJOR Support/Resistance level - the white line. Of course it confluences with another horizontal support/resistance level. As You...

Charted_Trades

I bet that most of You are using the Relative Strength Index on a daily basis. So here comes the question HOW do You use it? With time I found that RSI set on higher Period ( like 100-200 ) and only with middle line at 50 level is waaay easier to read and gives clearer view of the momentum. It also makes it easier to draw trend lines on the RSI and don`t get...