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Bounce

Rising wedge acting as supportThe previous trend line resistance for the wedge is now acting as support as go into the mid and upper 40's. This is normal for a s/r to flip however what I find weird is the candle we saw earlier dipping inside the wedge and bounces off the support. Previously I had stated that the 10-11th of august is a deciding day for BTC as we are likely to test the 200dma and it is the meeting point of the wedge.My fear is that the candle earlier exposes weakness in the support and that if tested again we may fall into the wedge where we remain before falling down. This ties into my previous idea about supply takeout and how if we don't reclaim this area we bounce down. The wedge deadline gives us time and actually supports us up to this area while still providing an area for us to fall. Also previously stated that if 45 is not claimed then we may see a down fall quickly diving into the many fvg we have left on this quick assent. While I remain neutral I'm still very open and more opposed to any idea that 45k will be an easy absorption
Short
by ollie_oz
4
#BTCUPDATE - 3.8.21 NEEDED CORRECTION IN PLAY I would not see this is particularly bearish movement but more of a needed correction. There could be a bit of manipulation happening to drive market down whilst potentially new German institutions are wanting to come in and play. We are in a confirmed downward channel and trying to find support - getting back above $35.5k is positive and a pretty key support. Breaking will take us to $37.6k and then onto $36.3k if that doesnt hold. A bounce here can take us quite quickly up to $40k again. My play is to wait it out and if losing $37.6k then to short to $36.3k. Breaking up on the $39.3k should lead to $40k. There is a bullish divergence printed on the 1hr coupled with the Key Support could indicate a strong bullish #bounce here.
by Kryptochristian
USDCHF - Break of important Consolidation - Where to get in?Hi Traders! The market is moving in a shortterm Downtrend, but it is actually in a longterm (daily) symmetrical Triangle. Please consider the screenshot for more details. If you have any questions, don't hesitate to write them into the comments or to make a message. Also, if you want more information about any detail above. -- The market broke out of this important Consolidation. We can see the bearish strength based on the last strong Down-Movement. But not everyone got into this trade. And as we don't want to chase the market --> we have to wait for a Pullback. The question is: Where is the next Area to get in? Of course, one possibility is to wait for the retest of the Support Break. But sometimes - or even often - the market doesn't pullback so much - and especially during times of high bearish momentum. An alternative is to consider the Trendline. We have three points from where the market turned (in the consolidation), which are all at one line - so we draw this descending Trendline. This could be a possible Entry, which is a logical Entry, a Pullback and on a reachable distance. Thanks and successful Trading :-)!
Short
by swissmoneymakers
TATAMOTORS - Near Imp levelsWe are seeing a #sell-off in tata motors post its quarterly results, it has posted a #loss of some 4000 crores in this quarter, the company is still a loss-making company, but it has reduced its losses compared to its previous quarter and is mostly moving towards the profitability in the coming future. #Charts of tata motors look quite good since we have seen a move of a whopping 468% in the last 1 and a half years, a #correction is quite evitable and is also good for the next rally in the stock. Currently, #tatamotors are trading near its weekly and daily #support zone of 290-260, hence there is a possibility of some temporary bounce back in the stock. Reasons of possible bounce back **Strong multiple timeframe support **Daily Rsi is oversold: 23 **Hourly #RSI showing positive divergence For Investors If correction extended, lookout for price action near 214- 185 levels.
NSE:TATAMOTORSLong
by manuagarwal21
#BTCUPDATE - 15.7.21 ARE WE GOING TO BOUNCE? No update on the bullish path from yesterday a bounce here will look to confirm a bullish H/S pattern and see a strong challenge of breaking the key $33k resistance. Losing the $32.2k here though could be devastating though - and a quick fall to $31.5k and then just losing support after support to $30.1k There has been a pretty tight consolidation since the rejection from $33k which suggests a big move incoming. We need to get above $33k to have any kind of foothold so right now it is bearish short-term still. My play is to long to $33k and then use a tight stop-loss - if we break $33k then an ambitious target of $34k. Losing $32.2k then targets are $31.5k , $31.3k and then a stretch to $30.3k.
by Kryptochristian
2
$CRV Fire Sale!Back with another $CRV chart lol. As you may know, price action looks pretty awful, especially for alts. I expect $BTC to break to the downside of it's current range and proceed to nuke the entire market with it. Although this unfortunate in the short-term, this will create some amazing buying opportunities for alts, especially those with good fundamentals. In this chart, I display the previous levels (orange box) which should serve as support as we head for further downside. I also show similar support levels (green box) that correspond to fibonacci ratios in accordance to the 5 leg elliott wave impulse for confluence. Knowing these levels, I plan on taking advantage of this buying opportunity at the $0.67 and $0.44 levels primarily, with some hail mary bids at $0.33. These levels should at the least provide a significant bounce to the upside imo. Regardless of the outcome, I am a long-term $CRV hodler as I believe the token is extremely undervalued, and still believe it will reach prices listed on my previous $CRV charts. As for the bullrun itself, although I may be overly optimistic, I do not believe it is over. Comparing previous bullruns, this being the end doesn't make sense to me, and instead I believe we are having a mid cycle correction/shakeout before resuming but only time will tell.
by DanielDimes
2
Volume Analysis: 💎 Bullish Whales - New ATH In Sight? 🚀Volume Analysis: 💎 Bullish Whales - New ATH In Sight? 🚀 "Last time when the volume was this bullish, it started an epic bull run." Our previous idea is still valid. It's another timeframe for the same idea. So, you can use the two in your multi-timeframe analysis about one idea. ◀️ KEY POINTS: Last Time When Volume Was This Bullish We Had The Most Epic Bullrun In History Yearly Bearish Channel Means Sell Pressure & Support At The Same Time Now The Price Is Bouncing Up From Legendary Yearly Support Whales Had Months To Consolidate Their Wallets And Emotions Already How many resistances will this bounce break? Where could a new bull run go? What is your opinion? See comments to see our Side!
BINANCE:BTCUSDLong
by Elysian_Mind
2