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Bounceback

$LUNAUSDT the new king of scalping and day tradingIn the previous weeks and months, when thinking of scalping and day trading opportunities we could only think of $BTCUSDT and $LINKUSDT as stable means for good trades. In the past couple of weeks we have seen a major change in the paradigm of cryptocurrencies. The power LUNA is receiving from all external and internal factors of development is giving traders the much needed fresh air and change in status quo. Too much traders have been thinking of crypto as a means of HODL. But many would argue, traders are supposed to trade and perhaps that's where cryptocurrencies require a slight rebalance of scales in comparison with algo trading and whales manipulation. LUNA has proven time and time again to move against Bitcoin and even where Bitcoin slides, LUNA bounces back, and from this perspective, safe and stable scalping and day trading is back on the menu.
by UnknownUnicorn35305092
BTC: BOUNCING BACK??? What's up, folks? How amazing it is to begin a day with good positive vibes. If you have missed my previous idea on BTC then you better check it out (link is at the bottom). BTC went exactly to the point where I drew the support level. If you had your long position opened close to the support ($40500 to $40700) then man, you are in a good profit. So, let's see what's next. We are on the weekend, BTC is bouncing back, and USDT.D is retesting. This could be a table-turning point for the market cause back in Sept 2021, when BTC dropped at the same level which was around -25% drop, it rallied towards the new ATH. So, if this is the bounce we are waiting for then BTC must breakout of certain resistance levels. Resistance level 1: $43400. Resistance level 2: $45700. Resistance level 3: $47700. Resistance level 4: $49500. Resistance level 5: $50700. These are the 5 resistance levels BTC must break through in order to change the trend. Until and unless BTC breaks down below the support level of $41k, we have a better chance for BTC to rally higher. So, keep calm and look for better opportunities. I would personally go long on BTC and re-enter the market only if the weekly close for BTC is above the Resistance 1 ($43400). I am still not entering any trade yet. I am just observing the market and waiting for a better entry. If my ideas are of any help to you then do like and share your views in the comment box. Trade safe.
BITSTAMP:BTCUSDLong
by Dexter_The_Trader
GBP/JPY Possible bounce off resistancePrice is pulling up to a strong resistance level. History proves this level is pretty strong. Back in late october price reached 158.218 & than dropped and created a descending channel to support at 148.982. Now here we are again, will price repeat itself and bounce to the downside and continue in this ranging market between 158.218-148.982 or will it break? either way, my confluences on entry will be if price shows me weakness as it approaches supply zone, consolidation, bearish candles & crossing from the 55EMA and 21EMA.
Short
by AbundantChelly
Keep an eye on CHR - We could see a break to the upside soon!Here's a quick Look at CHR 6 hr chart. As we can see, the price has printed a bigger falling wedge and we could see a break to the upside soon! Keep an eye on this falling wedge! The best entry would be, when the price breaks above 0.72$ with good amount of volume . ------------------------------------------- The idea is: Buy when the price breaks above 0.72$ and take profits at the levels shown in the chart. Targets: 1. 0.84$ 2. 1.03$ 3. 1.18$ 4. 1.38$ ------------------------------------------- What Is a Wedge in the context of trading?: "A wedge is a price pattern marked by converging trend lines on a price chart. The two trend lines are drawn to connect the respective highs and lows of a price series over the course of 10 to 50 periods. The lines show that the highs and the lows are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Wedge shaped trend lines are considered useful indicators of a potential reversal in price action by technical analysts. Key Takeaways for Falling wedges: 1. Wedge patterns are usually characterized by converging trend lines over 10 to 50 trading periods. 2. The patterns may be considered rising or falling wedges depending on their direction. 3. These patterns have an unusually good track record for forecasting price reversals." ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
Long
by MBM_Crypto
Bitcoin flash crash! Time to panic? Not yet!General Intro: - Bitcoin is the first of its kind as cryptocurrency using blockchain technology and is looked at a store of value like gold , just better. - Bitcoin will help the people to bank themselves and gives some power back to the community. - The whole crypto market follows in some way the movements of the Bitcoin price while being much more volatile. Comments: - Today we look at the weekly timeframe to reevaluate the current situation for Bitcoin and therefore for the whole market. - We do see that once the bull market support band (green line is the 20 weeks simple moving average and red line is the 21 weeks exponential moving average) we dropped further down and even passed the 50MA. - However, we did find support around 40k$ and recovered back to 47k$ where we now wiggled around for most of the day. Why we should not panic yet: - Technically we still could go up above 52k$ for the weekly close and the bull market support band would have held. - We are currently above the 50MA. Once we cross the 50MA we have to reconsider things again and possibly turn bearish. - The last >200 days basically represent a large consolidation phase where we move between the two thick green and orange price lines (between 30k and 63k). - Fundamentals did not change and the reserves on the exchanges continue to drop. Daily chart: - Price shows a flash crash down to around 40k$ depending on the exchange you are looking. - Volume is on a steady decline since Mai. This supports the idea that we are in a large consolidation and accumulation phase. - RSI analysis shows that we are in some sort of consolidation between the yellow lines. - Moving Average: Currently we are below the 20MA and above the 50MA which can be considered a due or die situation. - Fibonacci levels show that we are currently hovering above the 0.5 which technically is still bullish. - Support lines are at 41k$ and 30k$. - Resistance lines are around 63k$. Afterwards we are free to fly. Expectation: - We currently expect the price to go up towards the 53k$ line within this week to technically hold the bull market support band. - If we can't hold the bull market support band it seems likely that we retest the 50MA again in the near future. Basic rules: - Never buy the top/ ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. We would love it if you could share your thoughts in the comments. Discussions are very welcome here. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - The bull market support band showing a green line representing the 20 weeks simple moving average and a red line representing the 21 weeks exponential moving average - Yellow lines are for visual help only. Specials: - Boxes represent either entry zone or support zone . Check the description. - Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
by tumbler55
4
Looking for a bounceDaily RSI at historic Oversold bounce levels. Almost as beat up as the covid crash right now. In the past we have bounced 25%-80%+ when bouncing off this level of Oversold conditions. There is also a gap on the daily now above at these extreme conditions that needs to be filled Also in a buy/support zone on the daily Weekly Oversold 4HR at historic Oversold bounce levels 1HR at historic Oversold bounce levels Daily looking to like a potential falling wedge, at price support/buy zone, at historic oversold levels with now a daily gap above to fill. A lot of confluence and the stars aligning for a good multi-day/weekly bounce out of OS conditions
NASDAQ:CGCLong
by Natestradamus
BTC/USDT - optimistic 29% setupHello, Traders! At the moment, the market has the strongest correction movement during the current Bitcoin rally. The asset lost 35% from its maximum and 29% from the local peak. The market is under constant selling pressure, which is restrained by the liquidity buffer of buyers in the range of $41600-$44200. The RSI indicator value on the daily timeframe is at the outsold zone entry. We must understand that the sellers' pressure will not be infinite and after the market supply (sales) will be satisfied, then follow shortage of supply, which will create a demand for the asset (activation of buyers). Entry to buy can be sought in the range of $42 600 - $44 200 Stop-loss shall be placed under $39800 Bounce targets will be : $47200 $49700 $52400 $55000 Good luck and watch out for the market! P.S. This is an educational analysis that shall not be considered financial advice
BITSTAMP:BTCUSDLong
by UnknownUnicorn10064030
2
Weekly Analysis of BTC-USDBitcoin started the May month with a bang as the flagship currency has appreciated by more than 15% in the last week of April to up until now. After the breakdown in which BTC dipped by ~20%, bulls again showed strength and closed the April monthly candle at $57,798. At the time of writing this report, BTC is trading around $58k. BTC formed a strong bullish weekly candle, however, from the last 3-4 days, it has been consolidating in the range of $56k to $58.5k. On the higher side, the immediate hurdle is present at $60K, once we get a decisive breakout from this level, next significant resistance is placed at $62k, followed by $65k. On the downside, the nearest support level is present at $55k-$55.4k as its 20, 50-DEMA is present around this range. Below this range, the next important level is placed at $52.2k. Also, as per the On-Chain metrics, BTC has strong upside potential in the coming sessions as CryptoQuant chief Ki Young Ju explained that Whales have been accumulating BTC. Massive Bitcoins have transferred, but these transactions are not from exchanges. Possibly OTC deals. NVT golden cross remains very low, meaning transaction volume is big compared to the market cap. This suggests that BTC has strong upside potential from the perspective of the NVT valuation model.
COINBASE:BTCUSD
by TradeDog-Research