BTCs Thrid Attempt, Will It Fail Again At Resistance Or Succeed?_______________________________________________________________________________________________________________________________________________________________________
Hello My Dear Traders Investors and Community, today this is an important chart because we are facing a difficult situation in BTCUSD. The BTCUSD mid-to-long-term-chart is full of contrary signals at the moment, as I already mentioned in past analysis, on a mid-to-long-term-perspective we are still in an overall consolidation phase because BTCUSD is trading in a big triangle if you didn't saw these analyses I recommend that you check these out when going on my account and look on the past BTCUSDs charts!
Okay, let's look at the chart. As you can see when zooming in, BTCUSD bounced at the support just as I forecasted, you can see the support marked with the orange box, the support is between 5770 and 5900 now what is important is that we have still plenty of resistance above us, there is the smaller falling red resistance line on the short-term-perspective and the huge falling resistance line on the mid-to-long-term-perspective (Which also builds the upper-line of the triangle we are trading in).
As we are approaching the third time the red-falling-trend-line now I am expecting a pull-back in this region, consolidation is also possible, just similarly as seen with the second attempt to break the resistance. Remember that this is a really strong resistance which brought BTCUSD almost - 58.7 % down, together with the 135-EMA there is a strong resistance-confluence-zone which should be ignored. Now the good news is that when we break these important and strong resistance levels it is a good bullish signal which can be considered for a bullish continuation to the upside. When it breaks it has to confirm fully and the 135-EMA and resistance line should be clearly broken with minimum more than 10 % to the upside, otherwise, it could be still a failure, that sometimes happens when the breakout confirms slowly but not for 100 % and the trend snaps back again in the other direction, it can also be described as a bull-trap.
In this manner, there could be still a possibility for a bull continuation although BTCUSD printed only bearish signs in the last-time not to mention the heavy bearish decline which brought BTCUSD from 9200 to 3900, but when the resistance confirms we have still the 38.2% retracement above us and the strong falling red-resistance line which have to be taken out for a full bullish scenario on the mid-to-long-term-perspective.
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The amount of good luck coming your way depends on your willingness to act.
Feel free to support for more valuable insight, thanks for your support, my friends! ;)
FAREWELL
Information is only educational and should not used to be for taking action in the markets.
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Bitcoin-trading
These Are The Obstacles BTCUSD Is Currently Facing._______________________________________________________________________________________________________________________________________________________________________
Hello, Traders Investors And Community, Today I discuss some important observations I made the last time looking at the BTCUSD-chart, what I already mentioned in recent middle-to-long term analysis of BTCUSD watching the Daily-to-Weekly price-chart of BTC is that we are still in an overall consolidation period as I already pointed out the importance of the three-major trend-lines we have in this picture now, once it is the huge resistance above our heads which you see in the chart marked with the red straight trend-line and the red dotted trend-line, there is also the black rising trend-line which holds the structure and the blue falling trend-line which formed from the lower-lows in the past months, as I already said this overall formation is still neutral so, I highly recommend to you that you watch my analysis where I determined the shape of our situation to have an overall picture of what is going on now:
Now, what you can see in my chart, is, that we got rejected two times in a major confluence zone which plays an important role in determining bitcoins further movement. The first time we got rejected in this confluence-zone BTCUSD provided a 57 % drop-down to the low at 3850 from which we saw this slowly establishing up-trend to the recent point and the recent second rejection at this confluence-zone. What does the second rejection mean? It is possible that BTCUSD falls more because this is such a strong important level, the good news is that we have support below us which BTCUSD will first recognize at the 5800 - 6000 range. When this level cant be held and bitcoins drop more down the next support-range is between 5800 and 5000. These levels building a logical triangle with the falling and dotted red resistance line and the falling blue trend-line as you can see in this chart, if we approach these levels before moving up I am expecting a healthy development of support in this range.
Furthermore, if we establish the support in this arena we can expect some up-moves there, but, to have a decent bull-continuation we first have to break the falling red-line to the upside, which isn't impossible for sure but it is still a strong resistance level. On the other side, we have the 45-EMA which plays into the confluence-zone, it will also be a highly respected resistance level which first has to be taken out to initiate a further up-trend! So what we do have now at hand? On the one side, it is a -bullish scenario showing decent moves after the confirmation of support, but with more than one obstacle in the way and still resistance above us, to provide a confirmed up-trend BCTUSD has first the task to take the major strong falling red trendline out. On the other side it is the -bearish scenario which kicks in when we cross the rising black trend-line down, this scenario is possible but when it forms it will take some time and it will be recognized as the scenario because BTCUSD won't be to hold the support between 5000 and 5800. The bullish scenario is definitely possible and I know many of you want the bullish scenario to be confirmed as it is also the healthiest way in the markets and everybody is happy but we have to see the confirmation first as I explained, we are still in a financial crisis, and as the coronafears and the economy all over is recovering a little bit, step by step, that does not mean we are in a solid confirmed bullish environment, this includes bitcoin as well as the major indices, stocks, and gold.
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In this manner: The Pessimist Sees Difficulty In Every Opportunity. The Optimist Sees Opportunity In Every Difficulty.
Thanks, For Watching! Have a good day!
Information provided is only educational and should not used to be for market purposes.
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Empirical Approach to Past Bearmarkets And The Current Situation_______________________________________________________________________________________________________________________________________________________________________
Hello traders investors and community, today I look empirically on the bear markets bitcoin suffered in the past and an important signal which we saw in the bear markets and which is repeating right now, the last weeks were highly volatile and the coronavirus shocked the whole markets up, not just the cryptocurrency market-landscape, also all-important index and stock markets.
However, I am expecting a cool down the next days and weeks from the fears as the economic-structure is recovering from the panic on the markets, that's why we can expect some moves to the upside, but that doesn't mean bitcoin is completely out of the woods, we have strong and serious resistance above us!
I recommend to you that you read the whole analysis to have a complete outlook on the situations:
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We have a strong resistance above us and there is this devastating thunder cloud suite signal which provided the final change in direction in the past bear markets, I already did an analysis on this some time ago as I pointed out it now turned to the downside, you can see it in the chart:
In this analysis, my point was to show how the market could turn bearish when the weekly close closes below the thunder cloud suite, which it already did in past events turning from bullish to bearish. As you can see it in the chart marked with the red cycle it signaled originally the bear markets of 2014 and 2018.
Please look also at this major important trend-line which has its origins at the very beginnings of the bitcoin eras, this trend-line is so devastatingly important that in the bullish scenario it has to be secured from breaking down-side. The point now is that when bitcoin doesn't manage to stabilize above this trend-line it will give another bearish signal for bearish continuation. What is also important in this structure is the 100-EMA and the 200-EMA which also supported the last two confirmed bear-markets with a first confirmation below the 200-EMA before moving below the 100-EMA. When we break the 100-EMA down this will be devastatingly difficult.
As the Thunder Cloud Suite Signal is already a heavy-handed important fact which shouldn't be ignored! Because it was so reliable in the past this could also be the next time now. Please look also at the consolidation phase happened after the second signal provided the second bear-market in 2018, there was a looong consolidation-phase before finally going down, this could also be the case now, creating a longer consolidation phase between the black-trend-line, the 100 EMA, the 200 EMA and below the thunder cloud suite which already closed weekly in the bearish zone.
So we have some important bearish signals that we have to consider now as reasonable, but as I already pointed out in my recent analysis bitcoin is in an overall consolidation phase which hasn't already ended, there is the possibility given that the Thunder-Cloud-Suite-Signal is actually a fake-out and that it turns bullish after the consolidation-phase has confirmed, but for now, this is not the most reliable scenario to depend on:
The next days and weeks we can expect bitcoin to remain in the consolidation channel as mentioned in my analysis, but there is plenty of resistance above us and with this information given we can say that when bitcoin starts to approach higher it will have a difficult time to do that, for that reason I consider the bearish scenario after the consolidation phase has finally ended as highly possible but that can turn when we take out these massive resistance levels above us and close above the red falling dotted trend-line you can see in the chart above the current price action.
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In this manner: "The grand aim of all science is to cover the greatest number of empirical facts by logical deduction from the smallest number of hypotheses or axioms."
Have a good day and starting in the weeks! Wish you all luck, happiness and of course good trading profit! ;)
Information provided is only educational and should not be used to take action in the markets.
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XRPUSD - 2.87 Year Old Trend-Line Broken, What Comes Next?!_______________________________________________________________________________________________________________________________________________________________________
Hello, Hello, Hello! Traders, Investors and Community! Welcome to this tremendous significant RIPPLE / US DOLLAR analysis, I detected some important signs of where we heading the next weeks and months and important support levels which we need to hold.
The corona fears going on these days and the markets showing volatility never seen for years. For wise traders that doesn't mean crying! For wise traders that does mean searching for profitable opportunities!
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As you can see in my chart RIPPLE just broke down a very very very important support trend-line which was there for 1043 days that means 2.87 in years.
This trend-line held the whole structure up and now it is broken, as for now this break looks like a bear-trap BUT that does not mean we are out of the woods, as you can see in my chart we have a huge bearish zone below the trend-line.
For now, I see some steady up-trends coming the next weeks and months but these up-trends will trade into resistance right above RIPPLES head, you can see it marked with the resistance levels and the major important falling trend-line which first need to be surpassed to develop further up-trends.
The 50 and 200 EMA marked in orange and purple showing resistance also, which means we have another confluence for resistance in the area. When the price touching this area it is important to show good bullish continuation signs otherwise ripple will fall back into the bearish zone which would accomplish a slow death ride to lower levels.
Considering this scenario, trade on the SHORT side will be appropriate when a reversal confirmed but for now, the price first has to visit these areas.
When dividing the chart into bullish, neutral and bearish areas there are, as mentioned clear obstacles in the neutral zone for ripple to turn bullish:
For the next weeks and months we can expect some good up-moves coming but what hold ripple back in this structure are the few resistance levels that shouldn't be ignored. When these levels confirm as resistance a SHORT trade will be appropriate otherwise we have to watch out for a possible bullish confirmation leaving the obstacles
in the neutral zone behind and confirm the turning-point into the green bullish area as seen in my chart.
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Thanks for watching my analysis! Hopefully, it will be profitable for you. There are always opportunities in markets also in times of great fear or greed, good treaders keep a cool head and look for the golden apples popping up ;)
For more market insight feel free to support.
Information provided is only educational and should not be used to take action in markets.
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Huge Symmetrical Triangle will determine Bitcoin Future Outcome!__________________________________________________________________________________________________________________________________________________________________
Hello traders investors and community. We live in volatile times today! As the news is spreading the coronavirus fears and national emergencys called in many countries of the world we see rumors facing all important financial markets including the cryptocurrency market and the biggest cryptocurrency of all, bitcoin!
We saw BTCUSD breaking down several support levels as it formed a major low at 3850 after a heavy downfall making more than minus 50 % in just one day. Today I discuss with you the important price pattern I detected observing the bitcoin chart and the heavy outcome BTCUSD will show us in future!
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When looking at my chart you can see this huge historical triangle forming after the major high was seen in 2017, as looking objectively on the triangle we can say that we
are still trading in a consolidation phase considering the long-term approach. The symmetrical triangle will break either in the bullish or bearish direction with a heavy outcome, the longer we are trading in the triangle the heavier the outcome will be, so at this point, we need to wait and look for more bearish or bullish signs to confirm the definite outcome of the triangle.
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Sell-Off:
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Local Support/Resistance:
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Considering the next days and weeks I am expecting up-moves to higher levels at least to recent support/resistance levels between 6460 and 6900, after this a test of the upper triangle line as seen in my chart is highly likely. Either of the two targets marked in dark red will be reached when the triangle confirmed in the bullish or bearish direction.
I know many of you want to believe in the crypto bull market but at the current point there also has to be considered the bearish scenario as also the major stocks and world economy showing bearish signs we are facing a possible recession the next months and years, therefore the bearish scenario has to be considered and taken seriously.
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Thanks for watching, I hope everybody found this analysis useful. For more market insight feel free to support my work with a like and follow. I wish everybody of your good days and a nice weekend!
“It is the job of the market to turn the base material of our emotions into gold.” In this manner have a good weekend my friends!
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Be aware of this hidden Fractal-Similarity between BTC and Gold!__________________________________________________________________________________________________________________________________________________________________
Hello traders investors and community, today I share with you an amazing observation which I found in the bitcoin and gold chart.
As many people know when we talk about digital gold we bring bitcoin in the conversation, similarly to the physical gold the supply is limited and the
production is similar, the difference to the physical gold is that the production and supply of bitcoin is 100 % digital.
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When I compared the charts to one another I figured out that there is not the only similarity in production and supply but also in the chart picture!
Looking at the physical gold chart the overall structure can be divided into four phases. You can see these phases marked in the charts.
There is also the big descending wedge in gold which already confirmed the same way in bitcoin.
Phase 1: Correction: Gold provided a significant correction from 1900 to 1050 before it formed the ongoing uptrend, this fractal can also be divided into a Wyckoff accumulation phase.
When looking at the bitcoin correction phase we see an unbelievable similarity with the physical gold chart, as it formed the exact same correction fractal which can be divided in
a Wyckoff Cycle.
Phase 2: First Uptrend: The first uptrend in gold is important because it brought gold from 1050 to 1350 in a massive up-trend wave before the consolidation set in, we saw the same
dynamic in the bitcoin chart as you can see when looking at my chart.
Phase 3: Consolidation before Breakout: When looking at the consolidation phase of gold I saw that there is a significant wedge formation before a massive breakout happened, you
can see the breakout marked in the chart with the red Ellipse. Like a correction in bitcoin the next weeks is the most probable scenario we can expect a similar wedge pattern
before a breakout.
Phase 4: Second Uptrend: The second uptrend with gold is developing right now, this is the point where bitcoin is still in the correction phase, but the setup is highly probable as
there are so many similarities in the charts we can expect bitcoin entering the breakout and phase 4 symmetrical to gold. The only difference is that the charts diverge in time.
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Soo my friends, this should be a good overall overview of the physical gold and digital gold compared to one another. ;)
Please like and follow my work for more market insight. All the best and good trading profits my friends!
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My Forecast Played out the Bullish Way and the Flag Confirmed.__________________________________________________________________________________________________________________________________________________________________
Hello my friends! This is a update-analysis on a idea I made november last year! I called that we are trading in a huge bull-flag with two possible outcomes.
Now we can see that the bull-flag I observed is playing out the bullish way just right the coming days.
Highly recommend that you watch this analysis to have a full overview of the situation:
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We are looking at the daily chart and can see that the huge bull-flag I suspected to confirm also in a bearish way is confirming the bullish way now.
We made a possible final lower low and otherwise when we can't find bearish signals signaling a fake break-out of the flag or heavy supply
we can expect a good growth period with a higher high in the structure.
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I expect a consolidation the next days above the last blue trend-line which you can see in my chart before moving steadily higher.
This is a middle-term analysis, in the next weeks and month we can expect bitcoin to test the upper resistance levels at
10600 to 11900, for now, I can't say that we are out of the woods for sure but we can expect some bullish movement.
A possible target of the bull-flag would be 12700 with more upside potential, we have to watch if this plays out!
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Thanks for watching everybody. I hope you found this analysis useful. Feel free to support my work for more market insight. All the best!
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Bitcoins Actual Amazing Movement Similarity with the Last Cycle!_____________________________________________________________________________________________________________________________________________________
Hello my friends, I wish everybody a Happy New Year! Hopefully, everybody had a nice New Years' Eve.
So we are in 2020 and there are important things I discovered with bitcoins weekly time-frame movement, which I share with you today. Let's go!
There Is Bitcoins Big Cup and Handle Cycle which already played out with the target of the Cup and Handle Confirmed.
You can see it in my chart, you can see the different stages of the cup and handle confirmation, breakout, and target marked with numbers from 1-4.
Also, there is the first Cup and Handle Formation which already played out in 2017 marked with the letter A and the next Cup and Handle Cycle marked with the letter B.
1. Double Bottom and First Accumulation: The first bullish signs after a long and strong bear-market indicating a possible change in direction.
Smart-Money is accumulating in this phase.
2. Second Accumulation: Retail Money is accumulating in the market. The prices are rising higher. This is also a substantially important phase for bitcoin to develop
further rising price-movement.
3. Breakout and Cup and Handle Confirmation: Price increases further after the second accumulation is completed. Price confirms at the right top of the cup and
forms the handle which completes the formation when confirmed.
4. Final Cup and Handle Target: It s the price target projected from the top of the Cup and the lengths from the bottom to the top from the cup of this formation.
The minimum target zone is the percentual price lengths from the bottom and top of the Cup and Handle formation, more often then not the prices shoot higher than the
actual target. Which you can see in the first Cup and Handle Cycle.
Cup and Handle Formation: In the domain of technical analysis of market prices, a cup and handle or cup with handle formation is a chart pattern consisting of a drop
in the price and a rise back up to the original value, followed a smaller drop and a rise past the previous peak. It is interpreted as an indication of bullish sentiment in
the market and possible further price increases.
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The second Cup and Handle Cycle in which we are trading right now looks pretty similar to the last one, it wouldnt be not so Improbable that we confirm this second Cup
and Handle like the last one. On the other hand these formation can also fail and print another formation which either consolidates or falls down. A defnite test of the
higher line from this formation can be taken as complete confirmation of the formation and further upward price movement.
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Overall Bearish but this Fractal could save Bitcoin. __________________________________________________________________________________________________________________________________________________________________
Hello my traders, friends and family. Today I make an important analysis following coherently up my two last analyses on BTCUSD, where first I pointed out the future outcome
in middle to long term of bitcoins price on the daily time-frame and as second the current price action and where we are heading on the 4-hour time-frame.
If you didn't see these analyses already you can see it here:
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This analysis playing an important role to show the possible save from bitcoins bearish outcome with the fractal i found.
The analysis is building a logical continuation to the recent two analyses with other indicators, so i would recommend you to see also the last two. Lets go!
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We are looking at the daily chart and as you can see in my chart there are two fractals which are marked with orange ellipses, one that already played out and
another which is completing now. The fractal which already completed pulled back several times at the 20-EMA before it made an down-pull to the 7300 area, after
this we have seen an massive uptrend which made almost 41.91 %.
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It is important to watch for the 20-EMA (purple) confirmation in this scenario, as the same is pretty similarly happening now, several pull-backs at the 20-EMA before
going down and recovering massively.
As you can see in my last analysis (4-hour chart) we are heading into resistance at the 7300 - 7400 level which is also matching with the 20-EMA.
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When this scenario plays out and we get another pull-back at the 20-EMA we will see good support between 6000 - 6300, which you can watch marked in my chart.
There is also this major support line marked in black in my chart, where we will highly likely get minimum a pull-back when touched.
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Thanks all my friends. Good trading profit in december 2019 ;) Feel to support for more market insight.
Information is only educational and should not be used to take action in the markets!
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BTCUSD - Important scenario on middle-long term to watch!___________________________________________________________________________________________________________________________________________________________________
Hello, as many people giving advise when to buy bitcoin and how much can it fall before backing up there is an important scenario to watch when considering the bullish scenario. Do you really think bitcoin will back up again when falling to 4000-5000 USD?!
There is not much volume in the market, a fall to 4000-5000 USD would confirm several bearish indicators and the probability of a possible bull-market continuation will fall.
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As you can see in my chart there is an important indicator showing us when a confirmed bull and bear market is in play. It is the Thunder Cloud Suite. It confirms bull and bear markets. Also in bitcoins bull-markets the weekly close was never below the lower band of the Thunder Cloud Suite. It indicated exactly the market change with a close below the lower band in april 2014 and march 2018.
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What is also really important and worth to look at is the major blue trend-line which you see in my chart holding bitcoin all the way up, what do you think will happen when bitcoin trades below this major blue trend-line? Right another bearish indicator confirms!
There is the 50-EMA which also hold the bull-markets in the past and confirmed more downside when broke down.
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For now we have to watch if bitcoin succedes in holding the range or if it falls more. Falling more can also happen slowly with touching support backing up and falling again as seen in the bear-market after 2017.
Considering the bullish scenario the volume for an continuation is very important.
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Thanks for watching! May all luck and happiness come to you! For more market insight feel free to support!
The information provided is for educational purposes only and should not be used to take action in markets.
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Bitcoin's Next Move: Breakout (70%) or Retest at 44K (30%)? 🤔💡Bitcoin's journey within the ascending channel has presented multiple buying opportunities, particularly appealing at the channel's lower edge. The last noteworthy purchase was near $42,700, and now, as we approach the upper channel boundary around $45,120, we face resistance. A break above $44,200 could signal fresh long positions targeting $47,600. However, current resistance suggests a potential pullback to $44,500 or even to the channel's midpoint near $44,146.
Patience remains a virtue in this market. The recent SEC approval for Bitcoin ETFs triggered a classic 'sell the news' event, but the market is now stabilizing. Anticipation for the upcoming Bitcoin halving and multiple compelling reasons to buy Bitcoin are creating a buzz in the community. So, what's next for Bitcoin? Will we hit the $47,000 mark, or is a dip to retest $44k more likely? Based on my analysis, there's a 70% likelihood we'll reach $47k and a 30% chance we'll revisit $44k.
Let's not forget the anonymous poll results from the FX PROFESSOR (Public Crypto Channel), which showed a community leaning towards testing FWB:49K again soon with a 42% vote, while 34% anticipate a dip to $40k first. These insights are valuable as we navigate the volatile crypto waters.
As we move forward, keep an eye on vaults ready for fresh breakouts. With the Bitcoin halving on the horizon, the probability of a breakout stands strong. The key is to manage risk with controlled stop losses just below the breakout level.
So, do you think Bitcoin will surge past $45,200 for a clear breakout? Share your thoughts in the comments.
One Love,
The FXPROFESSOR 💙
BTC BREAK VOLUME POSSIBLITY 44.5K TRENDThank you for reading this update.
Until this moment BTC has been in an uptrend, since the new uptrend that started below 40K trend wick. as this chart shows:
The coming time is important for BTC, and we will follow with the trend updates if BTC can get to THE BREAK VOLUME which will be able to break BTC to up 44.5K as the chart shows.
This is not a trading advice.
Updated Targets for Polygon - MATICQuick Updated levels to watch for MATIC, now that all of our previous levels have been hit- This coin is going to dominate over the next bull run. I Recommend everyone have some in their portfolio.
Levels to watch!
Breakout Level: $1.07
Updated Target 1: $1.79
Updated Target 2: $2.18
What is Polygon (MATIC)?
Polygon, formerly known as Matic Network, stands as a pioneering and user-friendly platform designed for Ethereum scaling and infrastructure development. At its core is the Polygon SDK, a versatile and modular framework supporting the construction of various application types.
For an in-depth exploration of Polygon MATIC, refer to our detailed analysis of the project.
Through the utilization of Polygon, developers can create optimistic rollup chains, ZK rollup chains, standalone chains, or any other infrastructure required for their applications.
Effectively, Polygon transforms Ethereum into a comprehensive multi-chain system, often referred to as the Internet of Blockchains. This model closely resembles others such as Polkadot, Cosmos, and Avalanche, boasting the strengths of Ethereum's security, vibrant ecosystem, and openness.
The CRYPTOCAP:MATIC token remains a pivotal element, continuing to exist and playing an increasingly significant role in securing the system and facilitating governance.
As a Layer 2 scaling solution, Polygon (formerly Matic Network) is endorsed by major players like Binance and Coinbase. The project aims to drive widespread cryptocurrency adoption by addressing scalability challenges prevalent in numerous blockchains.
Eur/UsdHello traders!
Yesterday, the couple made a buy move because the US inflation came out less than it was thought to come out. The pivot (1.08860). If the price manages to break the level (1.08860), then we will have a buy movement at the levels (1.09310); (1.10000) ; (1.11040). My opinion is that the pair will keep the bullish movement.
Wait to enter the trade! Be careful!
Don`t forget to look at the economic calendar!
MAKE MONEY AND ENJOY LIFE 💰
THANK YOU!
GOOD LUCK!
🙏🏻🙏🏻🙏🏻
Bitcoin - two weeks before massive PUMP? Hey folks. I recently conducted an extensive market analysis and compared the current situation with past cycles from 2015 - 2017 and 2019 - 2021. You can find more details here👇.
Based on past cycles, around this phase (reaccumulation phase), Bitcoin stayed for approximately 200 days before a sharp price increase. Currently, the price has been consolidating (sideways movement) for 190 days. And perhaps in a few weeks, we might see a strong price movement.
I want to emphasize that this is just a market analysis and a possible scenario of events unfolding. We do not rely on any analysis and our expectations. I continue to follow signals of my ready-to-use Buy/Sell indicators. Every day we get closer and closer to the market's parabolic phase.
❗See related ideas below❗
Follow + Like this post and leave a nice comment, it will allow me to move faster and make more useful content! 💚💚💚
BTC I hope I'm horribly wrongI don't know if I can draw correctly, except that the interpretation can be different, but still, aren't we at point C and aren't we waiting for a descent? You know, I keep thinking why there are so many influencers on Instagram for crypto, for trading ? Isn't this parable going to hit us slowly? I have a feeling that we have passed the VERTEX and now it will go down nicely. Let us be surprised. But be careful with your money.
I will be very happy for all comments and suggestions, I would love to learn something new
Bitcoin: Can buyers continue the fightback?Today's focus: Bitcoin
Pattern – Continuation
Support – 27,500, 28,700
Resistance – 29,450, 30,170
• Shib launched their highly anticipated Shibarium.
• Coinbase received approval from the NFA to allow US retail clients to trade crypto futures.
• Bitcoin briefly broke below 28K on some exchanges on Thursday
Hi, and thanks for checking out today’s analysis. Today, our focus is on Bitcoin. We’ve seen a rather exciting day so far with news hitting the market that looks to have created a bit of long-needed volatility. After a fast decline that continued the last two days, Bitcoin continues to fight back from session lows.
Will we see buyers come back into the market? Do you agree that the current retracement looks a lot like the last? Could this be a sign that a new leg higher could be building? A lot will come down to if price respects the main uptrend and if it can find support before making any new deeper declines.
Have a great day and good trading.
4HR: $LINK; Sizing Up- Too Much Demand?BIST:LINK at a key inflection point where sellers are trying to push price down, however buyers seem to be soaking up the demand and I would say it is a range bound asset between these areas. I pointed out 2 times via prior history where the demand shows to be too much for bears to bring down, as buyers push for a 10% mark-up once confirmation is in.
IF BIST:LINK can confirm that these lows are in fact the bottom of the range i.e the potential double bottom, history shows that link typically swings upward of 10% once the bottom is hit and support broken/confirmed
Just my thoughts and how one would use history to size up a asset and possibly put in a position and the arguments why.
Thanks for reading