A bearish cup and handle has formed in BTCUSD, indicating a possible bearish trend. Price action at the lower trend line of the channel has to be observed. A break of lower trend line may lead to a possible drop in price.
The idea is based on the indication of possible bullish trend indicated by the breaking of previous bearish channel, and formation of higher high. Support and resistances have confluence with the important fib retracement levels. The price can either break out of current resistance at 23% fib to target 38% fib and the next resistance level (in this case long...
Idea based on bullish trend indicated by formation of series of higher highs and higher lows. Stop loss placed below the previous confirmed higher low. Target is based on Fibonacci retracement level of the previous bearish trend.
Idea based on bullish trend indicated by formation Higher Lows and Higher Highs, and a breakout from resistance which previously had served as a support. Stop loss below the resistance.
The idea is based on the bullish trend indicated by higher highs and higher lows that are forming. Based on the trend lines for channel and the support level, the next higher low is expected to be formed at the entry level. So, entry has been taken at this level.
Idea based on bullish trend indicated by formation of series of Higher Lows and Higher Highs. Stop Loss below a previous resistance, which can act as a support.
Lower highs and lower lows that are forming are indicating a bearish trend. Furthermore, series of bearish candle stick patterns are indicting the strength of sellers, which means further downtrend is possible. Entry has been taken in the middle of bearish trend, and therefore, take profit is at the next support, with a risk reward ratio of 1 : 1.5
Series of lower or equal highs and lower lows have started forming, indicating a bearish trend. Furthermore, bearish candlestick patterns are frequently forming, including bearish engulfing, hammer and inside bar, which is indicating that sellers have strength and further downtrend is possible. Stop loss is just above the recent lower highs. Risk reward ratio is 2 ; 1
The trend is bullish based on series of higher highs and higher lows. Bullish engulfing candlestick has indicated the possibility of another higher low and further uptrend. Entry taken with stop loss at previous confirmed higher low. The idea is riding the bullish trend by modifying stop loss if new higher lows keep on forming.
Lower lows and lower highs re forming, indicating a bearish trend. Bearish hammer candle stick followed by another bearish candle is indicating the formation of lower high. Short position is taken with stop loss at last lower high.
Inverted hammer candlestick, followed by bullish candles, indicates a possible reversal of the bearish trend. Entry is taken with stop loss and 2 : 1 risk to reward ratio.
