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Bearish Flag

The Beast - Here again 6 months later. Hibernating is a good thing to do for some species. Some store food and save energy. Some avoid unfavorable climate conditions and some do it to metamorphosize into butterflies/moths or whatever. We have definitely been storing food and eating good at team Squeeezy Trades. So what has happened since our "Beast Loading up" idea? - A drop to $83.4 on 090222 to establish what we would learn was the bottom for an astronomical move to the upside.Barring the revisit to $89 9 days later (180222) we haven't seen prices at these levels in 6 months. - A war that took up well above $100 a barrel due to Russia being sanctioned by many and supply issues............Bla Bla Bla. (well..... pretty sure we made mention of the Red Vector candles from 2014 that were above $100 that needed recovering)- Oil actually went to $129.4ish and then did a mega dive. - After 2 tests of $93 zone a 3 month rally commenced from there to $123.4ish before the 7 week down journey to where we are now. Sooooo. What now? We are looking at the same zones to the downside that we were looking at back in Feb. Why because that's where the Green Vector candles are. We are getting there! For those who trade using EMAs we are coming up to a significant touching point in the daily time frame. This is where price meets with the 800 EMA. Why is this so massive? (i) Because the 200 EMA in the daily was touched/tested twice in December of 2021 and - after the 100 EMA in the daily was broken at the 3rd time of asking in July - 6 times this summer before being broken. This makes the 800 EMA the next logical stop (ii) this is where a reversal is more than likely to take place. (iii) The Green Vector candles from 240122/250122 that began the sharp and powerful rises this year are in the vicinity of where the potential contact will take place. What next? Remember you heard it here first, there will be some big news that will cause a big drop, but after that there will be a run like never before that will take Oil back above $100 and to $132 where it will make contact with the next Red Weekly Vector candle from July 2008. There after we believe $143 could be next and at a further stretch there will be a new All Time High made at $147. This could take until 2023 to happen but would be great to happen between Sept/Oct 2022 and March 2023. We cannot forget that $62 (3 times - May 2021, Aug 2021 & Dec 2021) and $66 Dec 2021) area is actually the real support for the year of 2021. Bear it in mind. $57 (March 2021) and $53 are levels it can go to break a Bull Heart but sure absolutely everyone is praying against that. We stand by the theory that the 800 EMA in the daily will be the reversal point. As it is also the 100 EMA for the weekly TF. Currently, depending on how the next 2 week candles go Price should line up to anywhere from $70 to $78 but could also do it from $80-$83. We know this is not helping get the best entry prices but really and truly, behavior of price in the next 2 weeks will indicate the best time to get in. We are waiting for a bottom to form at a place where a strong reaction happens in line with a bunch of confluences and levels aligning. Good luck traders! This is not financial advice and should be taken with a pinch of salt!
TVC:USOIL
by Squeeezy-Trader
CADCHF - Landing at support +100 pipsWelcome back! Let me know your thoughts in the comments! **CADCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
4
BTCUSD 3RD BEAR FLAG OF 2022?BTCUSD Daily TF Interested to see if this bear flag pattern plays out again this year. As a precaution, I've exited most positions with the anticipation of the internal support failing which could see a selloff back to the lower band of the ascending channel which is building up a pretty nice bear flag. I think that if this moves it'll be quick, very similar high-volume moves were made on 01/06 & 06/04. If I am correct and the current bear flag pattern completes then my first target would be 16k (internal measured move) which aligns pretty well with former validated support from NOV2020 and also has acted as a resistance level in the 2017 Bullrun after the top was put in. The final flagpole target puts the price back at 5k (which is ludicrous IMO) but we can never say never, especially in this current financial climate.... Keep a close eye on RSI and the current uptrend it is in, if it fails to swing high and cracks the uptrend it will most likely retest the 50.00 midway mark. If that fails then it's game on for the bears for an unknown amount of time. As always keep your RISK MANAGEMENT and POSITION SIZE in the forefront of your mind in the current climate and also your BIAS. Do I think this pattern will complete? potentially.. Would I be angry if it did? Nope (good op to potentially accumulate if possible).. Would I be angry if it doesn't? Nope (I managed my risk and kept my current capital) "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
BITSTAMP:BTCUSDShort
by Trader_Johnni
1
[Bitcoin] If $21,654 support fails, consider bearish #Crack #Bitcoin #Binance #1D BTC finally broke out the $21,654 resistance, which is the 0.5 level of the Fibonacci trend extension, which has been a solid resistance since the formation of the low on June 18. With a strong bull trend, even the purple convergence top has been broken, and it is currently confirming support at $21,654. If the $21,654 support is successful, we can expect a further short-term rebound, but since there is resistance at the top of the pink bull trend channel, and furthermore, as there is resistance in the orange long-term trend line, it is difficult to view the bull trend that appeared the previous day as a bullish reversal of the long-term trend. There is also resistance at $22,580-$23,360, which was mentioned in the last briefing, so it is safe to watch whether the bull trend that emerged the previous day continues for the next 2-3 days. If the orange long-term trend line breaks out, I think it is worth taking an aggressive buy response. Until then, we recommend that you respond as conservatively as possible. If the bear trend continues further under the assumption that today's high is the high of the bear flag pattern, the expected support areas are $15,573-$15,508, $12,107-$10,909, and the overshooting level is confirmed at $8,184.72. - Summary Resistance section $22,580-$23,360 Important $24,190 Overshooting Level Support section $19,828-$19,118 Important $15,573-$15,508 $12,107-$10,909 Important $8,184.72 Overshooting Level
by Tommy_Trader
1
Bitcoin possible 3 scenarios. 18.07.2022For the short term i see those scenarios. On the 4h timeframe price broke 200MA (red line) and currently trading above it. To follow Yellow and Orange scenarios Bitcoin must hold above 20k. 200MA on 4h timeframe was strong resistance since 10th of april and in my opition that's why it is important for now. Current market structure is similar to bear flag so if there is final shake out most likely drops till 16k (red path). If THE bottom already in then we can expect "yellow" and "orange" scenarios for near future.
by fugasok
Preparing more dropsAs recession started few days ago .. and my idea still stands. 1 more leg down .. happen should be about 12K if not then around 10K. If you are still in a buy secure your profits immediately; opposite side of you are in a sell position MT4&5 stay in for a swing trade big profits in your way. If you are looking for a buy highly suggest wait around 12-10K.. bear flag still in made we should be heading down and break that 17500 support which isn’t that strong enough. Low support is stronger around 12-10K
BITSTAMP:BTCUSDShort
by JoyBoyVegae
2
BTC Will Have To Make A Big Move Tomorrow. No More Time Left!When looking at BTC on the Daily timeframe, we can see that it has been trading in a descending channel since March 2022. Every time the price moved down, it consolidated into a bear flag pattern which eventually was followed by a downward move as expected when that pattern is printed. When looking closer at this channel, we can see that BTC is starting to print a new candle and coincidently, it opened up inside the channel. This can only mean three things... 1. There's no time left before a bearish or bullish decision needs to be made. 2. BTC will have to break through the powerful channel with a bullish move. 3. BTC will have to dump lower to remain in the channel and most likely continue another bear flag pattern at a new low or a quick wick to a new low. The CPI numbers were released at 9.1% and the whole planet is extremely bearish. Usually, when everyone's bearish, the opposite tends to happen, like what we witnessed today resulting in the crypto market pumping. I can't say I know for sure what will happen next but the day opening where it's at right now can either be a great breakout entry opportunity or a great short opportunity with tight stops. If we do manage to break through the channel, I can see a steady rise to the next dynamic resistance shown as the yellow dotted line, and once again coincidently, that's around 28k. Let's see how this plays out. Love it or hate it, hit that thumbs up and share your thoughts below! Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect! This is not financial advice. This is for educational purposes only.
Long
by rnaofs
4
BTC: STILL NOT OUT OF DANGER!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. BTC is bouncing from the $19k support pretty well as we told you in our previous update. BTC is still trading inside a bear flag and currently trading near the middle line of the channel. Scenario1:- If BTC got rejected from here then we again see it at $19k level. Scenario2:- If BTC breaks this middle line of the channel (Breaks above $21k) then we see a rally to the upper trendline of the channel and we might see a rejection from there. In short until and unless BTC did not break the $23k level we don't expect a rally. If BTC breaks down this bear flag then be ready for a new low. Let's see how this goes in the next few hours. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Short
by CoreCrypto1
7
[Bitcoin] 19K support is solid?? It's still too early to assume#Crack #Bitcoin #Binance #1D The support in the $19,828-$19,118 section, which was mentioned as very important in the previous briefing, succeeded, and it held the previous candlestick along with a buying trend, showing the possibility of a rebound. However, it can still be viewed as an extension of triangular convergence or an extension of a bull trend, and contains the possibility of continuing the bear trend. Since the short-term high has not yet been renewed, the expected support section is the same when the bear trend continues, but the expected resistance section has changed. As in the previous briefing, you can draw two rising channels. In the first case, a large bullish channel can be drawn, and in this case, the resistance near $22,175, where the center line of the bullish channel and the top of the convergence overlap which plays an important role. However, if the overshooting appears in the $23,240-$23,880 section and then the $22,175 section is supported, we can expect a short-term rise to the upper end of the channel. s3.tradingview.com In the second case, a small bull trend channel can be drawn. In this case, the resistance in the $22,580-$23,360 section, where the bull trend and the bull trend channel overlapped on June 13th, which plays an important role, The possibility of overshooting is shown until $24,190, where the long-term trend line and short-term Fibonacci level are located. Even in this case, if support is provided after breaking out the $22,580-$23,360 range, we can expect a short-term bull trend to the mid- to long-term Fibonacci level of $25,890. - Summary Support Section $19,828-$19,118 Important $15,508-$15,139 $12,107-$10,909 Important $7,750 overshooting level Resistance section Case 1 $22,175 Important $23,240-$23,880 Overshooting Level Resistance section Case 2 $22,580-$23,360 Important $24,190 Overshooting Level
by Tommy_Trader
2
BTC: LAST HOPE FOR BULLS!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. BTC is continuously dropping after the rejection from the $22.5k resistance level. It is forming a bear flag in a 12hr time frame and currently hovering near the lower trendline of the flag. As long as BTC stays above this lower trendline ($19k) we can expect a bounce from here. If in any case, it breaks down from this bear flag (Break below $19k) then be ready for another low. Support:- $19k Resistance:- $22.5k If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
6
[Bitcoin] Urgent!! 19K support is important!! #Crack #Bitcoin #Binance #1D Since the last briefing, the buying trend has not been continued, and it is showing a trend change by making Doge Candles and then falling. At this point, the blue medium-term bearish wave does not appear to have broken through the resistance of the 0.5 level Fibonacci trend extension, and it looks like Bitcoin will soon reach a critical support level. The important support interval appears to be around $19,828-$19,118, and this interval is located at the 0.786 level of the Fibonacci trend extension of the blue long-term bear trend wave, the 0.618 level of the Fibonacci trend extension of the blue medium-term bearish wave, and the bottom of the purple triplet convergence newly extended by the previous resistance. If it fails, once again, you need to prepare for further declines by the bear trend extension pattern. If the $19K support fails, we can expect support at $15,508-$15,139, where the blue medium term Fibonacci trend extension level of 0.786 and the purple short term Fibonacci trend extension level of 0.5 level overlap. However, one should keep in mind the turquoise long-term Fibonacci trend extension level 1 and the decline to the $12,107-$10,909 section, where the sub-trend extension levels are located. Additionally, if overshooting occurs below the $10,909 section, there is a possibility of a decline to $7,750, the 1st level of the purple short-term Fibonacci trend extension. Conversely, if the $19K support is successful, you can see several cases of successful retest support of yellow short-term convergence, successful bottom support of purple short-term convergence, and successful support of pink parallel channel bottom. If the $19K support is successful, we can expect a strong rebound in the near term. At this time, the expected resistance section is the section commonly mentioned in the last briefing. There are $24,189, which is an important resistance as long-term trend line resistance, and $25,890, a section that can be resisted when overshooting occurs. - summary $19,828-$19,118 support is very important Support section $15,508-$15,139 = Short-term support level $12,107-$10,909 = Critical long-term support level $7,750 = overshooting level Resistance section $24,189 = Critical long-term resistance level $258,90 = overshooting level
by Tommy_Trader
1