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Bitcoin(BTC/USD) Daily Chart Analysis For Week of May 19, 2023Technical Analysis and Outlook: Throughout the week, the coin's prices remained relatively stable, fluctuating between the Completed Inner Coin Dip of $25,800 and the Mean Res of $27,650. However, the emergence of a new, less significant Mean Sup of $26,750 indicates the possibility of a drop in price to the Inner Coin Dip of $25,800 or even lower to the Outer Coin Dip of $23,950. Conversely, there is currently no indication of an increase in price action to and beyond the Mean Res of $27,650 and $28,250.
BITSTAMP:BTCUSD
by TradeSelecter
XRP - TRIO RETEST 3️⃣ UPDATEHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we were waiting for XRP to approach the 0.42 zone to look for buy setups as it was the intersection of three rejection zones. Now XRP rejected our purple zone and traded higher sitting around the upper red trendline acting as a non-horizontal resistance. 🏹 For the bulls to remain in control, we need a break above the last major high in orange and upper red trendline. Meanwhile, the bears can still kick in for one more correction. In this case, as we approach the green support again, we will be looking for new short-term buy setups. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
16
ETH - Trend-Following Setup Ahead ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. ETH has been overall bullish from a long-term perspective trading inside the rising broadening wedge in red. After rejecting the 2000 resistance, ETH has been in a bearish correction trading inside the falling orange channel. 🏹 Here is why the 1700 - 1750 zone marked by purple circle is a strong support: 1- Round number 1700 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Lower orange trendline acting as oversold zone 5- Demand zone 📈 As per my trading style: As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
19
DIE HARD (BITCOIN) Bitcoin is a decentralized digital currency that was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions made with Bitcoin. There are several benefits to using Bitcoin. Firstly, it allows for peer-to-peer transactions without the need for intermediaries like banks. This means that individuals can send and receive payments directly, reducing the reliance on traditional financial institutions. Additionally, Bitcoin transactions are generally faster and can be completed within minutes, especially compared to traditional banking systems that can take several days for international transfers. Another benefit of Bitcoin is its potential for increased financial privacy. While Bitcoin transactions are recorded on the public blockchain, the identities of the parties involved are not directly linked to the transactions. This can provide a level of anonymity, although it is not completely anonymous since transactions can be traced through blockchain analysis. If everyone were to use Bitcoin for transactions and everything became decentralized, it would have both positive and negative implications. On the positive side, a decentralized network would reduce the control and influence of centralized authorities, such as governments and banks, over the financial system. This could potentially lead to greater financial inclusivity, as individuals who are unbanked or underbanked could access financial services through Bitcoin. Moreover, a decentralized network would make transactions more resistant to censorship and control, allowing for greater freedom in conducting financial activities. It would also enable cross-border transactions to be more efficient and cost-effective, as there would be no need for intermediaries or currency conversions. However, there are also challenges and potential drawbacks to consider. One major concern is the scalability of the Bitcoin network. Currently, the Bitcoin blockchain has a limited capacity to process transactions, which has led to issues with network congestion and higher transaction fees during periods of high demand. If everyone were to use Bitcoin, the network would need to scale significantly to accommodate the increased transaction volume. Additionally, the lack of centralized control and regulation in a decentralized network can pose challenges related to security, consumer protection, and legal frameworks. Without a central authority, it becomes more difficult to address issues such as fraud, disputes, or illegal activities conducted using Bitcoin. In summary, Bitcoin is a decentralized digital currency that offers benefits such as peer-to-peer transactions, increased financial privacy, and potential for financial inclusivity. If everyone were to use Bitcoin and the entire financial system became decentralized, it could bring advantages like reduced control by centralized authorities and increased financial freedom. However, challenges related to scalability, security, and regulation would need to be addressed to ensure the stability and viability of such a system.
BITSTAMP:BTCUSDLong
by TrojanBible
BTC - Short-Term Correction!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last BTC analysis, I have mentioned that if we break below the green previous low, we will be expecting a movement till the 25,000 support. 🏹 Here is why the 25,000 zone marked by red circle is a strong support: 1- Round number => 25,000 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Lower orange trendline acting as a non-horizontal support 5- Demand zone 📈 BTC is now sitting around that green area and since the daily candle hasn't closed below it, the bulls can still kick in for a correction. Yes, we will keep calling every bullish movement a correction as long as we are trading inside the falling orange channel. For the bulls to take over medium-term again, we need a break above the upper orange channel. For now, we are expecting a short=term bullish correction followed by another bearish impulse. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
31
BTC - Critical Zone ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we have been waiting for the bulls to approach the green major low to look for buy setups. BTC is now sitting around that green area and since the daily candle hasn't closed below it, we will be looking for buy setups. 🏹 For the bulls to take over, we need a break above the red channel and last minor high in gray. 📈 Meanwhile, until the bulls take over, the bears will remain in control, especially if we break below the green zone. Then a movement till the 25,000 support zone as mentioned on my last week's BTC analysis Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
36
EOS the only real A.I application network? Opinion: The EOS blockchain is recognized for its scalability and versatility, making it a suitable platform for future AI integration. It allows AI systems to function more efficiently, with greater transparency. Decentralized AI applications, or DAIs, can be developed on the EOS blockchain. These applications use the blockchain's transparency and immutability to resist manipulation and censorship. They can be used for a variety of purposes, such as improving privacy in AI systems, enabling peer-to-peer AI services, and creating open-source AI models. For example, a company could use the EOS blockchain to develop a DAI system that provides personalized AI services while ensuring users retain control over their data. This could be applied to personalized advertising, with the EOS blockchain ensuring data security and ad generation transparency. The EOS blockchain also allows for the development of autonomous economic agents (AEAs) - AI systems capable of independent economic tasks such as buying and selling, contract negotiation, or asset management. One application could be a decentralized autonomous organization (DAO) on the EOS blockchain that manages digital assets based on predefined rules, with all transactions verifiably recorded. Furthermore, the EOS blockchain can be used to develop AI-powered smart contracts. These self-executing contracts can respond to a wide range of scenarios. An example is a supply chain management contract that uses AI to predict supply and demand trends and adjust strategies accordingly. In addition to this, the EOS blockchain supports various programming languages, including C#. C# is commonly used in AI and machine learning projects due to its robustness and extensive library support. Developers can use machine learning libraries, such as Accord.NET and CNTK, to implement AI functionalities in EOS-based applications. C# also supports parallel and asynchronous programming, which meets the high-performance computational needs of AI applications on the EOS blockchain. By integrating C# with the EOS blockchain, developers can create scalable, efficient, and transparent decentralized AI applications. The EOS blockchain's scalability and versatility, combined with its Delegated Proof-of-Stake (DPoS) consensus algorithm, make it suitable for handling large volumes of data and complex computations associated with AI applications. In summary, the EOS blockchain provides a robust platform for AI applications, from decentralized AI services and autonomous economic agents to AI-powered smart contracts. As AI technology continues to progress, we can expect more AI applications to be developed on the EOS blockchain. Notes on how I personally use my charts/NFA: Each level L1-L3 and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's, in-between or in Between Sell levels these percentages are still respected. I like to use the trading range to accumulate by using this tactic. Just my personal way of using this. This is not intended or made to constitute any financial advice. This is not intended or made to constitute any financial advice. FED Macro Situation Consideration: All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over. NOT INVESTMENT ADVICE I am not a financial advisor. The Content in this TradingView Idea is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained within this idea constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All Content on this idea post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the idea/post constitutes professional and/or financial advice, nor does any information on the idea/post constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the idea/post before making any decisions based on such information.
Long
by TheBitcoinGeneration
ETH - Strong Support Ahead 🏹Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 🏹 Here is why the 1700 - 1750 zone marked by purple circle is a strong support: 1- Round number 1700 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Lower orange trendline acting as oversold zone 5- Demand zone 📈 As per my trading style: As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
26
🔗 What is a Blockchain? (simple guide)📍What is blockchain? The blockchain is a distributed ledger that offers transparency decentralization and data integrity. 🔹 Digital Ledger: A Blockchain is a digital ledger which keeps records of all transactions taking place on a peer to peer network. 🔹 Encrypted Information: All information transferred via blockchain is encrypted and every occurrence recorded, meaning once the block is created and added to the chain, it cannot be altered. 🔹 Peer to Peer: Lets you interact or send transactions with a peer, without an intermediary. Removes the middle man. 🔹 Data Sharing: The blockchain can be used for more than the transfer or currency. It can also be used to share contracts, records and any other type of data. 🔹 Decentralization: The blockchain is decentralized, so there isn’t a need for a central, certifying authority. 📍What are the Blockchain Core Components? 🔸 Blocks can be written and read by certain participants and entries are permanent, transparent, and searchable. 🔸 Transactions are recorded in chronological order on a continuously growing database. 🔸 A system of computers, connected via the internet, in which users at any computer can receive or send value to another computer. 🔸 Data is replicated and stored across the system over a peer-to-peer network. 🔸 It facilitates peer-to-peer transfer of value without a central intermediary, e.g. a bank. 🔸 Digital signatures and cryptography are used to secure the transfer. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
BTC - Key Rejection Zone!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. BTC rejected the 30,000 resistance zone and now trading lower for a bearish correction. If BTC breaks below 27,000 previous major low, we will expect a movement till 25,000 zone where we will be looking for long-term trend-following buy setups. 🏹 Here is why the 25,000 zone marked by red circle is a strong support: 1- Round number => 25,000 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Lower orange trendline acting as a non-horizontal support 5- Demand zone 📈 As per my trading style: As BTC approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
33
ETH - Long-Term Trend-Following Setup 🏹Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. After rejecting the 2000 resistance, ETH has been bearish short-term making lower lows and lower highs on H4. 🏹 Here is why the 1750 zone marked by purple circle is a strong support: 1- Round number => 1750 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Demand zone 📈 As per my trading style: As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
19
BTC - Correction Started ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we know that the correction already started as BTC broke below the last H1 low. Now what? 🏹 BTC is still overall bearish, and we are expecting a movement till the lower bound of the orange channel which is also lining up with the previous daily low in green. 📈 As per my trading style: As BTC approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) UNLESS the green daily low is broken downward. In this case a deeper correction movement till the 25,000 support would be expected. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
28
Bitcoin(BTC/USD) Daily Chart Analysis For Week of May 5, 2023Technical Analysis and Outlook: Throughout the week, the coin remained steady between our Mean Res $30,500, Intermediate Coin Rally of the same, and Mean Sup $27,000. It established a new soft Mean Res at $29,500 and a strong Mean Sup at $28,000, which most likely will be retested. This price action indicates that there will be robust progress in reaching the Next Outer Coin Rally point of $31,700 and, ultimately the Main Outer Coin Rally at $34,000.
BITSTAMP:BTCUSD
by TradeSelecter
BTC - Medium-Term View 🔎Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📌 H4: Left Chart BTC is currently overall bearish from a medium-term perspective trading inside the falling channel in orange. Now BTC is sitting around the upper orange trendline acting as a non-horizontal resistance. 📌 on H1: Right Chart BTC bullish short-term as a correction trading inside the rising channel in red. If BTC breaks below the lower red trendline and zone, we will expect the next bearish impulse to start pushing till the lower orange trendline. 📉 Meanwhile, BTC is still bullish short-term and can still break above the upper orange trendline to retest the 30k-32k zone. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
ETH - Bullish Channel inside a Bearish Channel 📉📈Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. After rejecting the 2000 resistance, ETH has been bearish trading inside the falling channel in red. ETH is now bullish from a short-term perspective as a correction phase trading inside the rising channel in orange. 📉 If ETH breaks below the lower orange trendline, then we will expect the bears to take over for one more bearish impulse till the lower red trendline. 📈 Meanwhile, we are bullish short-term, and if ETH breaks above the upper red trendline, then we will expect further bullish movement till the 2000 resistance again. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
20
NWC Trading WebNews crypto is an altcoin that in this bear market is showing strength especially against BTC. This is good, especially for the macro. Having said that it all can change very quickly we must pay attention to the support and resistance lines in the price and the RSI to really get a better grasp on the macro. The trading web is an idea I have made from a couple years back on a couple other coins that had very good success. Basically it's the support and resistance areas of price action going up and going down, they eventually cross each and look like a spiders web, hence the name. What to look for now NWC must close and hold the weekly above 322 sats and the RSI above 38. That shows strength and the likeliness of making a higher high this year is much more likely. NWC mobile platform. I personally use the platform and really like it, with still lots of new addons coming in the future this platform will be very big IMO. Check it out on your device, I'm using the Android version. I will periodically update the chart when there is any moves of importance. This not financial advice. keep in mind the move could happen much earlier or not at all. WeAreSat0shi Stay Blessed is 2023!
Long
by WeAreSat0shi
9
BTC - Ready Steady Shoot 🎯Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis, we know that BTC rejected 30,000 resistance and now trading lower for a bearish correction. Now what? 🏹 Here is why the 25,000 zone marked by red circle is a strong support: 1- Round number => 25,000 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Lower orange trendline acting as a non-horizontal support 5- Demand zone 📈 As per my trading style: As BTC approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
23
ANKR (ANKR) WCA - Inverted Head and Shoulders PatternHello and thank you for taking the time to read my post. Today, we analyze the ANKR chart with the ticker ANKR/USDT on the weekly scale, focusing on a classic price pattern called "Inverted Head and Shoulders." Inverted Head and Shoulders Pattern: This pattern consists of three parts, always in the same order: the left shoulder, the head, and the right shoulder. These can be sharp or rounded. Ideally, the shoulders should have symmetry, which makes the pattern easier to identify. The bottoms between the troughs form a recognizable trend line. Additionally, we have a trendline called the neckline, which acts as the current resistance line. Technicians refer to this line as the neckline. Ideally, the neckline should be horizontal. Chart Analysis: Upon examining the ANKR (ANKR) price chart, we can clearly see that this classic price formation is taking shape. The neckline can be found in price terms at 0.04881. The formation can span from weeks to months, making this more of a watch-list candidate than a direct trade. Moreover, the weekly 50 EMA is also moving downwards and is clearly rejecting the price, providing yet another reason to observe rather than to trade at this time. The pattern exhibits the necessary criteria and symmetry between the lines. Although we cannot predict when or if the price pattern will break out, we can certainly prepare for it. Conclusion: The ANKR (ANKR) weekly chart showcases a classic Inverted Head and Shoulders pattern with a neckline at 0.04881. Although the exact timing of a breakout remains uncertain, the pattern provides valuable insights into potential market movements. By closely monitoring the neckline and the downward trending weekly 50 EMA, which is rejecting the price, traders can be better prepared for any potential price action in the future. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
2