Will it move with the changed flow... Rise above 17.1K...(Day 7)Hello?
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(USDT 1D chart)
(USDC 1D chart)
We need to see if the gap rise of USDT and USDC can continue to occur.
(BTC.D 1D chart)
I need to see if it can be maintained on 40.44 or higher.
(USDT.D 1D chart)
The question is whether it can find resistance at 8.11-8.22 and drop below 7.86.
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(BTCUSDTPERP 1D Chart)
As the StochRSI indicator has started to decline in the overbought zone, it will be a question of finding support around the trend-based Fibonacci extension of 1.27 (16984.9)-17170.0.
If not, we need to see if we can keep the price above 16422.6.
Since it is located near the MS-Signal indicator, I think it is in an ambiguous position to actually enter a position.
Therefore, you need to be careful when entering a position.
As of November 27th, it seems that the flow of BTC has changed.
Therefore, since the meaning of the current position has changed, it must meet resistance by falling below 16422.6 to show the same downtrend as it did before the 27th of November.
The next period of volatility is around December 10th.
(1h chart)
The circled zones on the chart are important support and resistance zones.
If the price is maintained above the M-Signal line of the 1D chart and above 17170.0, the main position is 'LONG'.
Therefore, a quick response is required when entering the 'SHORT' position.
If the price holds above the MS-Signal indicator, 16984.9, I would expect a bullish trend to rise above 17170.0.
However, it is important to ensure that it can be supported at 17170.0 or higher, so it is necessary to check whether it is supported.
Also, if it goes down, it is also important that the price can be maintained above 16422.6, so it is necessary to check.
Therefore, you need to make sure that it is out of the minimum range 17170.0-16580.6 and the maximum range 16422.6-17670.0.
If you are inexperienced in short-term, scalping responses, you should be careful because you think you are in a section where you need to be cautious when entering a position.
If the price rises above 17170.0 and holds the price,
1st: 17670.0
2nd : 18374.1-18741.7
It is expected to show an upward trend in the vicinity.
At this time, what is needed to continue the upward trend is that new funds must be shown entering the coin market.
If it falls below 16422.6 and encounters resistance,
1st: 15908.2
2nd: 15328.7
3nd: 14824.3
You need to make sure that you are supported nearby.
So, no matter what, an upward move above 17170.0 would be necessary to continue this upward movement.
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- big picture
I think you need to be supported in the 13K-15K section to get the power to rise.
Therefore, whether it is rising or falling from its current position, a short-term response is required.
A full-fledged uptrend is expected to start when it rises above 29K.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator includes indicators that indicate points of support and resistance.
** SR_R_C indicators are displayed as StochRSI (line), RSI (columns), and CCI (bgcolor).
** The CCI indicator is displayed in the overbought section (CCI > +100) and oversold section (CCI < -100).
(Short-term Stop Loss can be said to be a point where profit or loss can be preserved or additional entry can be made by split trading. This is a short-term investment perspective.)
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BTCUSDPERP
BTC Elliott WXYSo btc finally showed us the X wave
Just Sharing...
Macro look:
weeks to show us the X wave, as I see it, right now we are on the Y wave, this wave might take same time than the W wave (7 months-ich) or even longer
the nature of a wxy correction is complex,
W wave was an easy ABC correction,
X wave was a little more complex,
Then the Y wave is the complex one, so we might not see and easy ABC here.
(I've seen this complex corrections before it can stay into a little range for a long time and then drop heavely)
Right now:
Building wave 1 of Y, we can se range here on wave 4, waitting to drop a little more, maybe to dashed line to finish wave one.
then we would see btc going up building and abc, this would be wave 2.
Remember, wave 2 cannot go further than the begining of wave 1, so invalidation for this scenery is the red line.
BTC UPDATE : Support Lines#BTC UPDATE :
In 1D TF ascending broadening wedge upper line rejected couple of times today i add all support lines as we already discussed earlier in Upper Updates 1) rising wedge scenario : we have to break from this wedge because we know support from rising wedge still around 23600 area and even if this is going to be broken then next important support is 2) moving averages 20MA & 50MA which is going to be very very important line of support around 23500 to 23000 range and add 3) CPR lines also going to be most important support around 22700 area. 4) Add 200WMA if you look in chart blue line is the 200WMA since the price of Bitcoin is above it the same line is definitely very very strong support line for bitcoin Now you can see The Profit Station Family between price range of 22500 - 23000 area we have some very very strong line of support lying so even if the price of bitcoin is going to break the support, so expecting continuation showing manner towards 25000 - 26000 before choosing trend direction.
Bitcoin Long Entry+--------------+-----------------+
| Pair | BTCUSDT |
+--------------+-----------------+
| Direction | Long |
+--------------+-----------------+
| Entry | 22590.1-22663.1 |
+--------------+-----------------+
| TP 1 | 22783.5 |
+--------------+-----------------+
| TP 2 | 22954.9 |
+--------------+-----------------+
| TP 3 | 23319.7 |
+--------------+-----------------+
| TP 4 | 23757.5 |
+--------------+-----------------+
| TP 5 | 26311.1 |
+--------------+-----------------+
| SL At | 21933.5 |
+--------------+-----------------+
| PositionSize | 1-3% |
+--------------+-----------------+
| Leverage | 3-10x |
+--------------+-----------------+
| Join Us | @VectorAlgo |
+--------------+-----------------+
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#Thoughts
Few fell out of the rhythm, a trip to Malaysia.
But, now it's not about that...
You may have heard about the company ProShares, it is an issuer of exchange-traded funds. They have $62 billion in management. So, when the whole market was flying To the moon and bitcoin was on ATH ($63,000):
◾️ProShares added a spot BTC ETF on October 19th... (spot means only LONG). That is, on ATH they will launch a BTC ETF (only for opening LONG positions) and tell their clients - long guys.
◾️Two days ago, June 21, 2022... ProShares adds Short Bitcoin ETF... When we hit the bottom. They allow their users to short bitcoin. BTC price 20.700$.
For what?
ANALYSING A POSSIBLE UPTREND (BTCUSDT)By choosing a 4hr time frame , I notice a downtrend as on the chart with candle closing at the value of ( C 42140.0) on 21st/APR/2022 at 1500hrs (utc+3 Riyadh). This trend is reversed as explained below;
* The price range percentages indicated from the support level (purple colored rectangle)express the price movement of the higher
lows down the trend.
* Lowest recorded percentage (5.76%) higher low at the end of the downtrend ,candlestick closing at the value of ( C 38696.0) ,wick
value (H 39255.5); setting for us a new RESISTANCE (horizontal yellow line).
*A breakeven above our resistance at 1900hrs (UTC +3 Riyadh) on 4th/APR/2022 is our evident downward reversal candlestick at the
value of ( C 39840), wick value (H 40058.5).
OPEN TRADE AT : MARKET PRICE 39300.0 TP 39400 SP 37504.5
SPECIAL APPRECIATION: @AlexTrading @laurensandy @tttacademy ( OUR MAGICIAN'S HOUSE) ~still learning
$BTC - 42390 then Bullish - Halfway Through Discount FVG - *SMT**SMT = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges, trendlines, channels, harmonics, etc. has any effect on how price reacts. I'm Sorry but you won't convince me that Bitcoin knows it has created a triangle and that it knows how to react from that? It does and will remembers price levels, that's it. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to remember is price will move toward attacking where there is Liquidity (Equal Highs, Equasl Lows, phantom Trendlines etc.) and Balance (Fair Value Gaps, Liquidity Voids.) That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.
In This Signal....
I believe the momentum for the bitcoin chart is moving from the slight pullback that it just had to a more bullish structure. I believe the entrance would be roughly halfway through the the last 15 min fair value gap near the bottom of the current low. It should fill the imbalance to at least half, if not it could fill it entirely and a possibility that it is pulls through down to the daily fair value gap between, 41578.33 and 41766.79. Currently, It has hit the bearish order block, waiting to see which price point will be the turning point. It's the end of the week, second week of April starts today. Which leads me to believe that the price will end the week on a bullish run. The 12% drop of total price which is only 80% of a fibonacci pullpack,
12% drop Chart
which is 100% completely normal. To place your fib in the right place, make sure that the low you're measuring from is the most recent low that has broken and closed above a swing high or equal highs. Not all waves that need a Fib will be placed at the very bottom of the wave. You will be disappointed everytime as that is not that way Smart Money views a discount price. So please see this example as to how to place your fibs correctly.
Price should retrace 61.8-88.6% to the discounted Smart Money Price. This one is roughly 80% retracement which is about 90% of all retracements. In this area there is the last 15 min fair value gap, the price should turn bullish hit the bearish order block pull down until 42390 area and then finallly start rising. At the end of the week. Where is it aiming for? In the 15 min chart there is a liquidity void where two candles do not touch. This is a dead giveaway that price will want to return to this area. The high of that void is 46376.09 on this chart. It could take a week to reach the objective, maybe two. But we're due for more bullich runs. Especially after doing 30-20-90 day lookbacks and forwards. We should hit a new high by June or July.
BTCUSDT. Most likely Direction. What is Next?
Just an OPINION if it is useful PLEASE LIKE and FOLLOW.
Hello traders:
What we see:
1. Huge candle in the 4hr chart with big body and no tails. Some people here agree that the price is fair and a good buying area. This can be interpreted as decisiveness (blue elliptical).
2. Accumulation Distribution is above it's EMA13. Buy the dip? Sure many people bought the dip (purple elliptical).
3. Good buying volume, and lack of selling volume (purple elliptical).
4. RSI just entered the overbought zone. If price fluctuates in the overbought zone then it would mean an upward trend continuation (orange elliptical).
5. Resistance areas (key local pivots): 58553, 60029, 60976, 62278, 66401, 66875, 69000. Challenge ahead, we need to break those levels to continue the bull cycle.
6. Support areas (key local pivots): 52,920 (strongest) 53,500, 55600. We must defend those levels, if not downtrend will continue.
7. Huge bullish MACD divergence that has not been invalidated. Downward trend just losing it's force (black elliptical).
8. 4hr candle in progress (creen elliptical). We have 2hrs left for the moment of truth. If it closes above the wedge, then it is very likely that the reversal of the downward trend will follow through. We still need for the daily timeframe to be confirmed.
Conclusion: We saw a positive reaction at the 53500 level. We see awesome bodies with no tails which shows that the market is very decided. If the price manages to get out of this correction, we have a few challenges ahead, we need to break all those resistance areas for this bull run to continue.
The worst case scenario is that we get a fake breakout, and a weak pump upward, and see a dramatic dump downward, which could penetrate all those support areas (mentioned above). It all depends on the media now. My best guess is that the new COVID variant news was orchestrated to fill all those buy orders.
Those are the real whales. Anyways, with good TA and good risk management, we can at least defend ourselves.
So what do you think guys? Are we going to resume the bull trend? Will we be able to penetrate those Resistance areas?
Remember, preserve your capital and live to fight another day, step by step is the best way, best of best my friend.
Robertus
BTC Hidden divergence on the dailyHi all,
as you can see we're close to crossing the middle line on the log chart. Previously crossing that line brought BTC to new all time highs. This time the divergence between the chart and RSI is clear. I can see BTC going to around 67k-68k zone bringing new all time high and then retracing back to 55k zone so the RSI can cool off for the next pump. After the retracement the FOMO and greed will skyrocket pushing it to even further highs. For now I can see 2 possibilities:
a) BTC going to 67-68k -> 55k -> 70k and beyond, this would go accordingly with TA.
b) Greed, FOMO, influx of public inexperienced investors pushing BTC even higher right after ATH without retracement. 67-68k -> 70k+.
For now it's important to watch that middle line since it's a key level.
Cheers to everyone and wish you profitable trading.
BTC Uptrend Parallel Channel on Daily and weekly time frameBTC since March 20202 uptrend parallel channel, and it was breakout to 64k out of the channel and now we are still inside the parallel channel.
And as per Jeffery from EW the price breakout from parallel channel that is wave 3, and this is exactly what happen, and once price back inside the channel it is wave 4.
So far is not breakdown from the channel and I am still bullish until it is break.
BTC bearish outlook continuesBTC price action continues to adhere to it's bearish swing trend.
Although we have seen flatter swing trend than before, price action still passes through it's support level of 34,800; thus forming a lower low 4hourly swing pattern.
The retracement wasn't ideal as price did not retrace back to above 40,000; thus forming a lower high 4hourly swing pattern.
Trade setup observation:
Price is likely going to retest it's flatter swing trend. In the event of false breakout, short entry has an opportunity gain of 13%.
*Kindly note that these are my opinions and does not constitute as financial advice. Opinions can be wrong! Please seek professional advice before investing.
BTC: Buy the DipPreviously, we successfully shorted Bitcoin from 55,700 to the mid 47000s, but now, BTC has shown enough to warrant a cautious long.
1. The 270-Day regression channel has created two tops and three bottoms (17 December, 27 Jan, 25 April), and a pattern of such duration and strength must not be taken lightly.
2. CMF was showing significant bullish divergence near the end of the downturn, and now, it's actually higher than it was near all time highs despite just one day of buying. This suggests buyers are stepping into the market and buying the dip.
3. Leading alts have rebounded strongly - particularly Ethereum, Solana, and BNB.
4. Trying to buy half now and get another fill at 52500.