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Breakdown

Short 🔴 Sure Short, Vampire Cat WedgeShort 🔴 Sure Short, Vampire Cat Wedge The left-wing (bearish wedge, red trendlines) of the vampire cat broke down. We're seeing a retest now. If the price is rejected, it'll crash in the right wing of the vampire cat. Will it be rejected? Daily trade BTC volume is dead. Shorts on altcoins are piling up. Long-term investors go to El Salvador to dump their BTCs. We think about a short position. Trade only confirmed patterns. Trail your profit carefully.
Short
by Elysian_Mind
10
A DOOM OR A BOOM? BTC is at a high risk of forming a falling wedge pattern if it fails to hold the 100 MA support. For the past few days, BTC has been following the rising wedge pattern, and as we all know that after every rising wedge pattern comes the falling wedge pattern. If BTC successfully bounces back from this level then we can confirm that this ain't the end of the rising wedge. We may see the BTC price going higher but if it breaks below the 100 MA and the next upcoming candles are closing in red then it will surely be the end of the rising wedge pattern. The market sentiment is showing a bearish move and we could call it a correction after a rise in the market. We still have 50 mins for the candle to close in 4 hours TF and to stay bullish, it'll be important to close above the 100 MA. On the other hand, if you are willing to short BTC then I would suggest waiting for the candle to close. What's your point of view? What do you think about the current market? Will it fall or will it bounce back? Let me know in the comments.
BITSTAMP:BTCUSDShort
by Dexter_The_Trader
GOLD - Severe Technical Damages on Daily ChartAfter touching 1680 in Asia morning session, gold has had rebounced to 1750. This 1750-1760 area used to be support, now turnes resistance which proves to be a pivot area. A breakdown under 2018-2019 uptrend line is in progress. The daily chart shows severe technical damages with combination of death cross, trendline breakdown, and negative MACD. Unless gold is able to recover above this pivot area or the uptrend line, gold might again head to 1660-1680 support area.
FX_IDC:XAUUSDShort
by GOLDTREND-NET
💙 Proof: How I earned +788% within 6 hours 💙 Proof: How I earned +788% within 6 hours BTC/USD market (+100% success rate, +340% profit): - Short :boom: Bearish Wedge: - Long :green_circle: Bullish Wedge: - Short/Long :black_large_square: Combined Wedge: - Short (HFT) :boom: Bearish Flag: - Long :green_circle: Bullish Wedge: ETH/USD market (+100% success rate, +448% profit): - Short :boom: Bearish Wedge: - Short :boom: Bearish Flag: That's yesterday, and now, we can see a bearish pennant on the 4-hour chart. We bet on short once again.
BITFINEX:BTCUSDShort
by Elysian_Mind
GBPUSD | Perspective for the new week | Follow-up detailsWe are yet to take a position since price action negates the Bearish expectation projected in my last publication on this pair (see link below for reference purposes) as price broke out of the Bearish trendline to find a new high. The current structure appears to have clues that support selling opportunities as the price is at a zone that has accumulated bearish momentum in the past (since February 2021). The appearance of a technical reversal pattern within a major Supplication area ($1.39500/1.40110) that has had a resistance memory since May 2016 (see weekly chart) calls my attention to Bearish tendencies at this juncture in the market. Despite slumping earlier this week after Fed Chair Jerome Powell said rate increases were "a ways away" and the job market still had "some ground to cover", the bullish momentum garnered on Friday by the USD could be a platform for better days as anticipation of a positive consensus ahead US Nonfarm payrolls release is in the air! Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) | Trendline Observation: i. The Greenback resumed recovery with a strong reversal set-up that began on the 21st of July 2021 from the $1.36000 area (see weekly chart). ii. The line drawn under pivot lows in the last 8 trading days reveals the prevailing direction of participants in the market as price continued to find higher highs. iii. Double Top: The appearance of an extremely bearish technical reversal pattern within a major Supplication area ($1.39500/1.40110 - see daily chart below) as the price appears to have tested a peak two consecutive times ($1.39830) was later followed by a significant Breakdown of Neckline ($1.39400) on Friday. iv. I hereby suspect that the early hours/days of the new week might see a price climb to reject neckline to incite a risk of further decline for the Pound in the coming week(s). v. In this regard, I have identified a niche to go short around $1.39400/1.3900 as a breakdown of Trendline and Key level $1.39850 remains an area to affirm the bearish bias on this pair. vi. $1.39830 Level - (the peak that formed the Double Top) has a level of significance in my bearish expectations as this level is seen to have a memory of Bearish momentum that garnered over 200pips move in recent times (24th June 2021). vii. It is worthy to emphasise that the bearish perspective on this speculation could be a correction of the Bullish run that began on the 21st of July 2021 as participants who took advantage of the run take "quick profits" in anticipation of a rally continuation. viii. This been said, it is appropriate that we put into consideration the possibility of a rally continuation if the price remains above the identified Neckline @ $1.39400... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:6 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
4
GBPUSD | Perspective for the new week | Follow-up detailsWith over 300pips in our kitty as predicted in my last publication (see link below for reference purposes); the Price is back at around $1.38ish - a level I advised that we add sell position ( see previous publication). The successful Breakdown of Key levels on the 18th of July 2021 emphasizes a risk of further decline in price for the Pound in the coming week(s). After almost a week of selling frenzy, the Pound experienced a phase of recovery during last week trading session to test $1.37800 with a Double Top structure appearing right at our Key level hereby supporting my Bearish expectation on this pair. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. $1.37550 (Demand zone) which held price "supported" for 15 days was finally broken to the downside on the 18th of July 2021 to impress the dominance of sellers in the market. ii. The Breakdown followed by a complete retest of this Key level will strengthen my bias for a sell in the coming week. iii. Double Top: The appearance of an extremely bearish technical reversal pattern at the Key level after the price reached a peak two consecutive times ($1.37800 & $1.37750 respectively)points at risk of further decline as a breakdown of Neckline @ $1.373000 confirms completion of a reversal set-up. iv. It is worthy to note that the Double Top structure shares a confluence with a 61.8% retracement of AB leg and Bearish Trendline with a high probability of transitioning into a Harmonic (AB = CD) pattern with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently at 61.8% Fibonacci retracement (with a possibility of retracing into 78.6%) of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B move @ $1.34800 area. v. Below $1.37550 remains our yardstick to sell the GBP in the coming week(s). vi. Breakout/Retest of $1.37300 and $1.36900 shall be our two opportunities to add to the existing position... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:6 Potential Duration: 3 to 7 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
BITCOIN - It's No Surprise Man!!!!Hello everyone, rouzwelt here Well finally bitcoin broke down the 30k level, I have been pretty vocal about it in my last several posts, explaining the reasons why a drop is extremely probable due to lack of demand and interest in crypto market as a whole, you can clearly see the massive hype around crypto has vanished and the weather is pretty cold right now. As I have been saying in my last post, I was expecting bitcoin to initiate its drop around the crossing point of the downward channel, blue trend line and red trend line (red circle in the chart), and that's exactly where that happened. I was talking about possibility for a reversal and what are the obstacles for bulls to overcome if we want to see one, but they failed at the first one and I said if they fail at any of those obstacles we will see a dump, just take a look at my previous post (screenshot below - click it to go to the original post) and judge yourself the accuracy and validity, I hope you find it valuable. Right now price has broke-down from the downward purple channel and is now inside the yellow downward channel, sitting on the lower side, so it might initiate a move to the upper side (as demonstrated in the chart by arrows), or if bulls don't show any presence then it might fall below the channel and dumps even more. I also have been talking about the critical level of around 29 - 30k for bitcoin to break below in my past articles, if it wants to see lower 20's, and as you can see in the screenshot of that post below (click to go to the original post), price has managed to hold on to it at current moment, but the problem is that we don't see any meaningful reaction from bulls, we don't see enough demand and buyers willing to step in at this area like the few times before. Previously whenever price reached this area it bounced quickly with significant demand and volume but right now its cold man. I should say that the trading volume is low and sellers are not doing much either, but their not much efforts have been enough to bring the price to this level, and that's not a good news at all, cause if they have managed to bring the price here with not much efforts, how far can they dump the price if they put more efforts? So right now it doesn't look any good for bulls and I want to be honest, I find it hard to find any bullish signal from the chart in TA perspective, but whenever I see one I'll be more than happy to share it with you guys. I'd like to point something else here as well, and it's the break-down of macro rising channel in weekly timeframe of log chart (screenshot below). I've been talking about this possible break-down in my post several weeks ago, and now the break-down is confirmed, so lower prices for coming months should not be any surprise to anyone, but that might be good news as well, because that might be the time for bigger players like institutions to come in as many of them have been waiting I believe, because they mostly look at weekly and monthly charts and plan their moves on macro scale and you can't possibly expect them to be he buyer at tops. It also is a good news for those who are here long term and actually believe in blockchain and crypto as they can buy them cheaper. It's worth mentioning that the fundamentals around bitcoin and sound alts have never been stronger than now, we are hearing great news and that can be an indication that the current bear market would not last very long like 2018 bear market, but that teaches me personally a great lesson and it's that fundamentals don't have to impact prices immediately, they are the main driving factor for rising prices in long-term of course, but the road is not a straight one, that's where TA comes in play, when it's cold it's cold, you can't warm up an entire market by several 4H candles, TA gives you the navigation tool so when the warmth slowly builds up and when it gets hot again, you would be the one enjoying the most. My short position is still open at 32850 with SL at entry, shoutout to those who took that trade with me, I hope you're enjoying that, and I have a plan to increase its size if bitcoin manages to break the 29 -30k down. I'll be posting about that when I see a clear entry point. In the end I'd like to ask you all to take a look at my previous posts and judge their qualities yourself, and if you find them and this post valuable enough then consider supporting me by hitting like and comment if you have any opinion about them, I'd appreciate that a lot.
by rouzwelt