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Bitcoin Big Picture - Trends, Channels, Extensions Oh My!2017 run-up over 34 weeks followed by decline in channel over 51 weeks. 2019 run-up over 29 weeks followed by decline in channel over 57 weeks. Bigger patern 2017 run-up along with decline in descending channel over 137 weeks (which includes bottom to top of channel upward move formed by the 2019 run-up) then breakout above descending channel in July 2020. Leads to HUGE run-up in 2020 and 2021 up to top of long term multi-year ascending trend channel. Top of this run-up is also formed by 1.618 extension of initial 2020 impulse move upward followed by bounce off of 0.618 retracement of this move. Huge decline off of bounce of top of multi-year upward trend channel with retracement down to support around $30k. This support area is "supported" by a number of ideas including mid-trend line in multi-year upward trend channel, 0.382 Fibonacci retracement on 2020/2021 upward move, and 2.618 upward extension of 2019 run-up move. Should this support area hold price may move upward within multi-year trend channel and possibly breakout of possible descending channel as part of bull-flag formed by 2020/2021 impulse move. In this case price may hit just under $100k on 1.618 extension of 2020/2021 impulse move. Or, if 50+ week decline from recent 2020/2021 impulse move occurs that would map to similarly extended declindes from 2017 and 2019 upward impulse moves and price may go down to 20k before bounding upward again in any lasting and significant manner. If price breaks below the 30k support area it could descend to the late 2017 highs around 20k before bouncing upward again. Although, a lot of negative sentiment, government intervention or institutional deparature from the crypto space would have to occur to fuel such a move. With the move upward to a newly stacked upper multi-year trend channel price may just remain in this upward zone until it breaks higher. If all of this sounds like gobbledy gook then here's some sensible words of caution. Beware of unicorns flying around on your charts! They may appear enticing and harmless but they are difficult to ride! :)
BITFINEX:BTCUSDLong
by BDTrading
Algorand Channel Identified? 👀👀👀Over the last few days I’ve been watching Algorand. Of the alt-coins out there, this is definitely one of the most promising projects you should be watching. Pure Proof of Stake rewards is a great factor to buy and hold - especially if you are utilizing the Coinbase app where a poor entry can still be profitable if you hold for an extended amount of time. More specifically to this chart, if you are an aspiring crypto day trader, this coin presents a comparatively safe bet versus other similar coins such as Cosmos (ATOM) and Tezos (XTZ). A good entry appears to be at between 1.20-1.30, with upsides regularly returning to 1.50 and even up to 1.70 if you are patient. The next few weeks may shake out a new trend, especially with Algorand’s ‘Carbon Neutral’ sentiment, where in a Post Tesla/Bitcoin split market we may see Pure proof of stake (PPoS) based currencies take over energy drainer PoW coins such as Bitcoin (BTC).
COINBASE:ALGOUSDLong
by IbexiSterlinfa
Price channel trading: XRPXRP is an unusual coin.While it has no real appreciative value, it does provide very good trading value. What makes XRP so unique compared to other cryptocurrencies? One thing, and its not related to XRP's fundamentals. XRP is often regarded as the unstable stablecoin simply because it has a very pronounced price channel. A price channel is where an asset typically remains consistantly between an lower boundary and an upper boundary. Stablecoins, like USDT, are common for this natural occurance. Most cryptocurrencies are not common for this behavior. Their prices fluctuate unpredictably. XRP has been very consistent lately. If you have a lower boundary of 0.26 and an upper boundary of 0.29, you will consistantly profit roughly 10%. The amount of time needed for this to happen is, of cource, questionable. Finding a price channelis fairly easy. You can use long range moving averages based on the high/low of a candlestick using a script or series of scripts. I chose to write my own which lets me fine tune this approach into a consistent profit. There are a few thing to be aware of. First, you will be buying each and every time the price drops below your lower boundary. That can actually be alot of purchases very quickly, depending upon your budget. Planning your budget will be very difficult, unless you use an isolated wallet where you can just let the algorithm exhaust it. You could alo filter the number of purchases, but you will inherently dimenish your profits. Second, risk assessment become very difficult or even impossible to messure. An asset like XRP has been price bound for a long time, but there is no way of knowing if that will hold true in the near foreseeable future. It could become as unstable as BTC, or it could liquidate into nothing. No risk / no reward is a common theme among crypto traders. How much risk is too much? Only careful analysis can answer that. The attached chart is my own analysis using the tools I wrote. This is a fairly easy trading method, if you have the budget to survive the accumulation. I chose a very simple entry point of buying in when the price drops below 0.26 and an aggressive dollar cost averaging process that triggers at a flat 2% profit. This fits my own risk assessment. If you have a higher risk tolerance, you could potentially wait for the price to cross 0.29 before you sell. The flexibility of this approach lends itself to many different levels.
BINANCE:XRPUSD
by RobertD7723
GBPUSD-4hr's How To Have Sniper Shoot By Using Perfect Tool🗒 Just browsing through my analysis means a lot to me. ➡️ Please follow the analysis very carefully and every detail of the chart means a lot. And always entry depends on many reasons carefully studied Always enter into deals when there are more than 5 reasons combined ------------------------------------------------- How To Have Sniper Shoot for your All Entry's by Using Channel Trading + Volume Profile ------------------------------------------------- Step Number One 1 ------ Draw A rectangle on every Volume Spark on Chart ----- Volume Spark Is High Volume par Bigger Than 3 before and 3 After ------------------------ Step Number 2 ------ Draw Channel with Equal 2 or 3 High's and Connect Them with equal 2 or 3 lows ----------------------- Entry Will be like .. --------- when price break out Channel .. we have to Wait for price break out High Volume par for more sell / Buy Confirmation ---------- For long Position .. wait a price break Out Channel and wait fo more Confirmation to break out high Voume par up Side/Down Side and go With Buy / Sell order .. and Stop loss will be below / apove Candle the break Out The Channel --------- Risk : Reward allways according to this strategy 1:2 -- Risk 5 % Account Max Per Position ---------
Education
by GentleGoldenEngine
20
NVDA PRICE CHANNELWho doesn't know NVIDIA? If you're reading this, all you need to do is dismantle your PC and you'll certainly find components inside manufactured by the semiconductor manufacturer leader. Although price is at rich valuations, technical analysis shows a price channel intact while consolidating for the past four weeks setting up for a Blue Sky Breakout. It's not too late to participate in a potential explosive price action on this stock. Consolidation above the 20-day EMA is as solid as it can get. A counter trend break a few days ago validates what could potentially be a trend continuation. A false breakout last week is just an indication of buying interest on the stock. Similar to its competitor in the semiconductor sector is AMD with a much more volatile and longer consolidation and still hasn't broken its previous February high. This clearly cements NVDA's leadership in the sector.
NASDAQ:NVDALong
by TradingMavericks
2
EURCAD, multiple scenariosEURCAD currently is still at a descending channel. We can expect a bullish scenario if ever it breaks out it resistance. But be cautious not to be predictive but rather reactive. As it now approaches the resistance, it may do three things and reacct to the significant level Breakout - which is a bullish confirmation, but watch out for false breakouts. A breakout must be supported by a reasonable volume. Reversal - reverse and go back to previous levels (minor - yellow line, major - purple support area) and Consolidate - may consolidate above or beneath the half of the channel. And may give us more sentiment of the market Still have no Bias and must wait for further confirmation. You can support the idea by liking and following. You can also share your ideas by commenting. I am open for conversation, suggestions and corrections have a nice trading day :)
by Jimbololoy
AUDUSD Bounce off 2008 Monthly lowAUDUSD has just entered a level it hasn’t tested since 2008! A huge move to the upside will come as long as this level holds. This is a strong BUY set up. The 15min chart just showed signs of high volume & decending wedge Roth into the level. Price may bounce off & go back into the level before it springs to new Daily highs. If you haven’t made any money all year, this is a free throw shot waiting for you!! As far as stocks, don’t play into the Coronavirus being the cause. Professional traders know this is nonsense. I’ve been shouting short STOCKS since December. The charts tell the story. The news is always the scapegoat.
Long
by BillionaireTomBoi
1
EURAUD Head And Shoulder Chart PatternHead and shoulder chart pattern spotted and if this play out retracement could be a case. Aussie is doing fine against king buck AUDUSD as well I assume the last time RBA cut the rate was fully priced in so Aussie seems to have demand rather than supply against many pairs on today's overall session. Price breaking lower the weekly pivot point (Blue), price falling inside the channel and price retracing below 38.20% Fibonacci retracement should make valid this head and shoulder!
Short
by Anatta0
2