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BTC Bullish Price Movement Confluence.I have spotted an amazing bullish price movement confluence for BTC. In the 1W Chart I spotted rejection towards the 2770 EUR Support Zone, and now the price made a Double Bottom pattern ( A strong price action reversal pattern. ) When I moved on to the Daily Chart I spotted this huge Head & Shoulders formation occurring with a Neckline ( Brake out line) @ 3600 EUR. ( Another strong price reversal pattern. ) Personally I am looking forward towards this formation, because the moving averages ( 50 MA = Yellow / 100 MA = Blue, ) have crossed as well. ( Just an indicator comfirmation. ) And in the 4H Chart I saw another Double Bottom, but it already did a Bullish Brake Out, and has started a Bullish Trend making its first Higher High and Higher Low.
In conclusion, if BTC brakes above the 3600 EUR level, then we will see huge bullish moves.
I have also highlighted the the analysis with colors on the chart !
Leave a like if you agree that BTC is going BULLS !
Comment your thoughts below !
symmetrical bullpennant breakout confirmed/higher high on 4hr We wanted to see the price action rise above this horizontal purple line to achieve a higher high on the 4hr chart and with the current 4hr breakout candle we have seen just that. A great sign for the bulls. However to securely reach a higher high on the chart that really matters(the 1 day chart). We're gonna need to get price action above this pink horizontal line just above that. The breakout target of this bullflag should have us reaching that higher high no problem plus we still have the price target to reach from the green falling wedge which is slightly above that too...that helps increase the odds even though falling wedge breakouts often don't reach their full breakout targets. There's also the large tan symmetrical triangle we have been above for quite some time now odds are good we will trigger its breakout and reach its breakout target. Only thing that could stop us from getting above that pink higher high on the 1 day chart horizontal line is the fact that we haven't had a higher high on the 1 day chart since the very beginning of the bear market and they always say the trend is your friend until the end. That's also why if we do trigger a breakout here above that higher high the trend may indeed finally be starting to reverse...we will of course want to see it followed up with a higher daily low and then one more consecutive daily higher high to be certain the trend is changing....or even a capitulation plummet right after this higher high and after that follow it up with a higher high/higher low/higher high sequence on the daily chart....either way to me it feels like the end of the bear market is truly near.
Two 1day candle closes above symmetrical triangle & 1day 50ma. While I am seeing plenty of bullish signals here overall, the fact remains that on the 1 day chart the bulls have not yet achieved a higher high which is needed in order to fully take control away from the bears and put the reigns in the bulls hands. To put it in perspective, The las time we saw a higher high on the one day chart was early January of last year not this year(shortly after the end of the bull run). Achieving a higher high on the 1 day chart would be one of the biggest signs we could get that the bear market bottom could eventually be in, but in order to get one here, we will need to push price action above the lavender horizontal trendline here at 4117, If we bart back down or see a bearish leg down that is not part of consolidation or a small retracement then we will have once again only formed a lower high on the 1 day chart and the bears wills till have control of the market. So no matter how many back to back bullish patterns we have set up here, If we don't find a way to get above 4117 and achieve that 1 day chart higher high before that next breakdown, all of those potential bull pattern setups could just as easily become invalidated. Thats why as exillerating as all this sudden bullish exuberance feels, it's important to stay grounded, calm, collected, even keeled and copacetic without letting emotion steer our trading strategy. If we achieve that higher high I am very confident we can trigger many of the current bull patterns and also reach their breakout targets however if we bull flag right here...without a higher high there's still definitely a chance for a bart back down that is very wise to be prepared for. Let's hope that the breakout from the green wedge is confirmed and that the green wedge at least gets close enough to it's breakout target to reach the daily higher high. The fact that we have now closed 2 consecutive 1day candles above the top trendline of the symmetrical triangle pattern as well as 2 day candles above the 1 day buy sell line(aka 50ma ) are both very bullish developments we are also now well above the green falling wedge pattern. There is still a small chance the green falling wedge breakout could be a fakeout but we are far enough away rom it that as long as we can close 1 more 1 day candle above the symmetrical triangle pattern I am highly confident we can confirm the breakout of the green falling wedge...only issue with wedge breakouts is they don't always hit their full target and do so considerably less than standard triangle patterns. If we bull flag here I can definitely see an easy break upward as well and the bull flag price target breakout would see good confluence with the green falling wedges target...however because of the potential for a abrt still in play, no higher high yet, and a 1 day and 4hr stoch rsi that are both still heavily overextended. I may still optimistically side slightly with the bulls, but I will be leaving this idea neutral and be fully prepared for any barts and/or failed breakouts.
ADABTC @ precipice of ih&s brkout & both a 4hr & 1day goldncrossAll Ada has to do now is overcome the 1 day 200mas resistance(dotted blue line) if it can and flip it to support it will likely then trigger it's inverted head and shoudler breakout as well as both the 4hr golden cross and the 1 day golden cross which will extend it bullishly for quite sometime. Bst to stay reserved on ADA until we see it flip the 1 day 200ma to solidified support first though.
ETH on the verge of bullish greatness (1day goldencross+ih&s?) The recent 4hour golden cross has been very good for the ETHBTC pair and we can see it's now led to a bullish surge at just the right time to give a 1 day ethbtc golden cross a real possibility of happening...should it complete the cross and continue this bullish surge we can expect price action will almost certainly go high enough to trigger the current inverted head and shoulder pattern ethbtc finds itself in. looking at the date ranges here to see what kind of candles each of the 2 moving averages will be factoring out of their trajectory in the next few days there is a slight possibility that there could end up being a 1 day golden cross fakeout but it will likely take a big red candle 180 from here for a golden cross fakeout to happen. So there are a few bearish symptoms like the candles that are about to be factored out of each moving average and the fact that the 1 day stoch rsi is way over extended...but overall probability favors the bulls here.
BTC finally surpasses 1day50ma…but finds a potential double top Finally breaking above the 1 day 50ma with authority was a great bullish sign up until the price action reached the double top point. As soon as price action retreated right at the double top point exactly it gave a great opportunity for the bears to shove the price action back downward. It may be a good risk reward zone her to exit my position and set a stop buy up just above the double top zone. If I were to wait for a little while for a bounce I would definitely wanna exit if I see the price action fail to close above the 1 day 50 ma for 2 consecutive day candles. Just as I wouldn't wanna get too excited about being above the 1 day 50ma until we have closed at least 2 1 day candles above it as well. This idea will remain neutral but I will be keeping a very close eye out for any sort of confluence that validates the potential double top that we have shown here on this chart on the frosted pink horizontal trend line. If we can form a higher high here above the frosted pink trendline I will definitely be siding more with the bulls. Thanks for reading! *not financial advice*
Yellow falling wedge breakout target reached. We have reached the breakout target for the yellow falling wedge. Price action actually went halfway between its target and the slightly larger red falling wedges target...finding resistance at a former strong horizontal teal trendline. What momentum we had from the breakout of the yellow and red falling wedges may now be gone as we can see the price action has been shoved back inside the biggest falling wedge (in green). Without any further momentum the probablity of us heading back downward towards the 1 week 20ma and the bottom trendline of the green falling wedge has greatly increased but I will leave this idea neutral for nw until I see whether or not we may form another bullish pattern here or not. Ultimately for now it appears as if the 1 day 50ma is going to maintain it's strong resistance.I will wait for 5 consecutive closes below the 4hr 50ma before I decide to exit my position. Just my strategy and not financial advice.
as expected 4hr 50ma pushes out of wedge…1day/4hr 50ma showdown?The 4hr 50ma has me still temprarily hodling as it has hoisted priceaction up out of the falling wedge in a way that will very likely trigger the breakout. 4hr 50ma is now guarding the door back into the wedge....We will likely see a brakout triggered due to this which will result in at least a temporary bullbreak at least up to retst the 1 day 50ma again....as anticipated in the previous idea, it seems more and mroe likely that the 1 day 50ma and the 4hr 50ma are engaged in a showdown that will probably not be over until they are close enough together to squeeze the price action like a pair of chopsticks until it shoots one way or the other based on which timeframes 50ma is the most dominant. I don't know what they call it when a 50ma on one time frame crosses over another 50ma on a bigger timeframe...if it doesn't already have a name I'm gonna refer to it as octave hopping.
BTC 4hr 50ma trying to lift price action out of fallingwedge It's come down to the strong support of the 4hr 50 ma vs. the strong resistance of the 1 day 50ma...who will win? We can see here on the 4hr chart that the 4hr 50ma is doing its best currently to hoist the price action up out of the falling wedge for a breakout but each and every time it tries to breakout the 1day charts 4hr 50ma gives it a strong rejection back down into the wedge. For now I'm bullish until both moving averages get slightly closer to eachother once price action is finally getting squeezed between the 2 like a pair of chopsticks I will be more neutral, however, btc may have gained enough bull momentum from the breakout of the wedge to help the 4hr 50ma muster the strength to overcome that resistance and actually solidify it as support for once. I've been consistently saying this whole time that we need to solidify the 1 day 50ma as support in order to sustain any further bullish upside. That remains true...so in the short term until we get back up to the 1 day 50ma I'm bullish then when we get there I'm neutral until I see it flip to solidified support...if it can do that then I'm definitely long. Mainly for the immediate future I think the 4hr 50ma is powerful enough to at least reach the 1 day 50ma before potentially solidifying as any kind of resistance.
Augur behaving as expected after 1 day golden cross.My last idea on augur I posted I said it would continue its bullish climb if it could achieve the 1 day golden cross on the repbtc 1day chart and we are now seeing exactly that in the price action. This will most likely also lead to a golden cross before too long on the repusd chart as well. If we can sustaina golden cross on the USD pairs 1 day chart it's only gonna get exponentially better.
Falling wedge on xrp seems more valid as a 1 day patternlooking at todays price action it appears the xrp falling wedge is a 1 day pattern with the trendlines adhering to the candle bodies...this lessens the breakout target by 1 cent down to 38 cents. 1 day Stochrsi supports further upside.
Dash ripe for a rebound; Potential inverted head and shouldersDash is experience a nice big green daily candle today which has allowed price action to climb back above the 1 day 50ma(in orange) We can see we also seem to be completing the right shoulder of an inverted head and shoulder pattern. I'm looking for a minor retrace here that retests the 1 day 50ma multiple times and keeps finding support there... if this occurs I will know that the 50ma(aka buy/sell line) has become solidified support thats when I will likely buy back in and then make my next decision at either the neckline of the inv h&s or if I see the price action somehow dip back below the 50ma and close 3 consecutive candles underneath it or solidify resistance. Judging by how the stochrsi on the daily is bottomed out and looks like it wants to start heading back upwards I'd say probability favors solidified support at the 50ma. Just my strategy of course if you are looking for financial advice you will have to go somewhere else as this is just my opinion. Thanks for reading!
AUD/CAD 1D Long Must Look Pullback on 200 ema & fib 78.60
Macd ready to go long
Next reversal at major trend line
Great risk to reward 2.8
Waiting for confirmation candle
USDCAD 1D (SHORT)We can see in the chart that the price raise to the resistant zone 1.33444 and allow us to see better a short opportunity.
Cypher- Shark - 5-0 Constellation FINALA Shark pattern is nested in a larger slightly broken Cypher pattern with the possibility of a preceding 5-0 pattern.
The most likely point for bearish reversal is at 0.74406 due to alignment of 0.382 of CD from both Cypher and Shark.
However if price continues moving upward then the half way point for CD of Shark @ 0.75648 becomes relevant due to possibility of 5-0 pattern, which is a 1 step extension of Shark
First support line is at 0.71579 - a 1.618 extension of AB from Shark
The strongest support range is between 0.71029 and 0.70436 where D from the Broken Cypher and Shark are in close proximity to one another (dark green)
If price drops below that then the official 1.618-2.24 of AB reversal range takes over again to extend D from between 1.13 of XA to 2.24 of AB (light green)
If that happens it will probably be more difficult for price to jump back over main support range which now becomes resistance
If price passes 0.6814 (2.24 of AB) shorting is recommended, otherwise go long until 0.74406 (0.382 of CD) or set two stop losses for 0.382 and 0.50 of CD @ 0.75648
Slightly Broken Bearish Cypher Lends Support to Smaller SharkLarger cypher pattern slightly broken at CD could lend support to bullish reversal from smaller bearish shark pattern and eventually lead to bearish reversal from preceding 5-0 pattern (see previous post)
Golden Cross has occurred but not reflected on 1 day chart yet.So even though it doesn't appear like we have crossed ont he 1 day chart yet if I were to flip this to the 4hr chart you can see that the current 4 hr candle is definitely over where the intersection point of the 2 ma's is so even though the 1 day chart is not yet reflecting it, the golden corss has now occured and you will see it reflected on the 1 day chart in roughly 9 hours from now.
GBPUSD UPTREND COMING TODAYPair Currency: GBPUSD Direction Predicted: UPTREND. GBPUSD is looking to go up within the next hours as my chart shows. Bollinger bands and other technical analysis have been used in order to predict an uptrend with the resistance level at 1.2800
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GBPAUD UPTREND TOUCHING 1.8400PAIR CURRENCY: GBPAUD TREND DIRECTION: UPTREND GBPAUD is showing an uptrend touching 1.8400. After the last 1hr positive candle, we are projecting an uptrend coming in the next few hours.
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