Short term channel playing support and resistance perfectly. Good scalp short here with tight stop loss.
Here I have pulled up our 4H (left chart) and 1H (right chart) timeframes. On the 4H we can see that we have successfully had a retest of our old resistance (red arrows) that flipped into new support (green arrow). Longer term is looking good for a continued move up, but shorter term we could see some turmoil. On the 1H chart we can see that we are creating a...
Hey traders, just wanted to show a bunch of potential key levels based on mathematical fib levels. Upper left chart is 4H timeframe (with potential support levels to the downside). Upper right chart is the 1D time frame (with more key downwards targets) if we close above the 0.618 ($30,200) today would be a pretty good sign. Lower left chart is the 5D based on key...
After this swing to the downside, BTC might have found its low. After seeing a large wick down to the 0.618 and our macro support trend line (white trendline) We have seen a move back above the 0.5. If we can maintain support around these levels or just a tad lower, then we could still have the move to at least $34000-35000.
On our daily RSI we see a bullish divergence. Lower low in price, higher low on the rsi. After this recent retracement we are testing the 0.618 ($1,820ish) as strong support. If we are able to hold above this level, we could see a higher low formed and another swing to the upside. Stop loss would be at our last low around $1700.
Hello traders, we have had an amazing pump today in the crypto markets, but do not FOMO. Looking at the DXY on the 4H we can see we have created a bullish divergence. Looking at BTC on the 30 minute we have created a bearish divergence. Historically, whenever the dollar goes up BTC goes down and vice versa. Therefore, I would use caution here at these levels and...
If we find support (with strong volume) on the next move down. That might give us the fuel needed to really make a large push to the upside based on this pattern.
Dot on the daily formed a bullish doji. This means if we have a successful reversal off this level over the next few days, we could have an immediate 8% to 15% move and potentially a 40% move over the next week or two. This would of course mean BTC and ETH would have to reverse trend as well, but something to keep an eye on.
These are only my own personal opinions and speculative targets. From this chart the area with massive confluence is between $56-74. A very key level based on past price action is $65. We are also at oversold levels on the weekly timeframe and have green volume on the CM. This is where I would expect us to find a massive relief rally back to the upside. I have...
These are only my own personal opinions and speculative targets. From this chart the area with massive confluence is between $13-18. We are also at oversold levels on the weekly timeframe and have green volume on the CM. This is where I would expect us to find a massive relief rally back to the upside. I have also added FIB levels of where to look for price...
Despite how bearish BTC looks, Eth could be forming a bullish falling wedge. My prediction is we fall to around $1,680 for a liquidity hunt before finding a "short term bottom". If we are able to find support and massive volume at the level, we have a chance to break out of this wedge. If we are successful in doing so our first price target would be back above...
We still have 22 minutes until the daily close, but at the moment it looks like we are going to close a full daily candle below our bear flag. If that is the case, we could see some blood in the streets over the weekend for the crypto markets. Be cautious here.
Believe it or not, BTC made a fadeout move to the downside and was still able to pump back into its bear flag formation without a 4H confirmation close below. This means we could be more in a descending triangle (right chart) rather than a bear flag (left chart). Honestly, once the support (green box) of the descending triangle is broken, it would theoretically...
Although I have laid out the bullish scenario for the move up to $34,000-36,000, the more I look at this chart the more it begins to look like breakdown first. This makes sense for a few reasons. 1. If we inverse the chart as I have done in the chart above, we can see we are in a bull flag which would break to the upside around 80% of the time. Since the chart is...
Tron recently has had a lot of bullish news regarding its stable coin USDD. After a pretty significant rally, TRX looks to finally be stalling. With a potential blowoff top on the 4H and slight bearish divergence on the RSI a good risk reward trade setup has presented itself. Put your stop loss at the high and ride to whatever profit you feel comfortable with....
Good RR on this trade. As noted, we can see we have formed higher highs in price and a lower high on our 4H RSI which is normally a bearish thing. Also, our MACD on the 4H has been creating lower highs while price has moved higher.
Could BNB be signaling the direction for ETH and BTC as well? At the current moment BNB looks very bearish. The chart on the left showcases the 4H timeframe. If $219 was our bottom and around $340 our top, then the 4H fibs have incredible confluence. We are also forming some sort of double top M pattern as showcased. If we breakdown our first measured move would...
Here is XRP on the 5D chart. After reaching our green box of support (around $0.30), we have seen a move back up. Currently we are holding the key $0.40 level and due to us being oversold on the 5D RSI we could see a move back up to around the psychological $0.60 level (which is also around our 0.786). This is a risky trade as it is all determinant on btc and...