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Confirmation

Bitcoin Final Step To Confirm The UptrendBitcoin has reached the downside target at $7555, that is based on the Fibonacci applied to the ascending channel breakout. However, the price went lower and hit $5900 price. Well, the important aspect is that the weekly closing price remained above that level and after breaking below price went immediately up and for the past few days has been rejected the actual downside target/support at $7555. Now the final step required by the Bitcoin to confirm the uptrend and this is to close above $8650 level. It is important that the price will close on a Daily timeframe and better on a Weekly. Therefore a weekly close above $8650 should be a long waiting confirmation of the uptrend. On a downside, break below the $5900 will most likely send price lower to $4000-3800 area and the $7555 support has to be watched for a break below.
COINBASE:BTCUSDLong
by CryptoPAMM
13
LSKUSD: Intraday Impulsive Rise On LISKHello traders, we are here for you even on Saturday! Having a cup of coffee we are going through some Cryptos to see what's going on and we saw something interesting. Well, as you can see BTC went sharply higher while some ALTcoins stayed sideways and many traders started to speculate, that correction can be completed at this stage, but we are talking all the time that wave structures and patterns are the most important to recognize direction! And as you can see, wave structures are very sharp and impulsive, so we cannot say yet that Cryptos will go down here, especially when we take a look on BITTREX:LSKBTC , which has clearly bullish pattern for much higher levels towards 58 level, especially because it's bullish confirmed with broken channel resistance line. Actually, LISK is not a leading cryptocurrency, but based on structures and targets on other cryptocurrencies, we think that Cryptos is not going to stop just like that and we don't expect any significant decline, so we think that rally will continue and any short decline will be just a temporary pullback within uptrend!
LLong
by ew-forecast
9
EUR/USD too tall?!Recently we've seen some odd behavior by the Euro in most currencies, but in great timing it has left us a few clues to determine its true direction for a long and profitable trade. Right now you can see in the 4hr chart, I've outlined a curve under the candlesticks . The curve represents the gradual change of the price starting the beginning of this month (Feb). Now we recently broke new high's yesterday and due to an overbought RSI (and other indicators on other platforms), we were only hoping for a pull back. This pullback is important for the saucer formation for it's potential hasn't been exuded yet. Because this pullback reached the top of the support we can assume the 78% is a good support and any closing beyond 1.24490 would be a hint towards it's next leg. The retracement slid to the 78% region. This region also happens to be support since January 24th; and the RSI is about to reach it's resistance as well. With the RSI being divergent, I can expect the Euro to be overbought for a few days within the next trading period. I believe its good to mention the 20 EMA is providing primary support to this uptrend. Hopefully this provided some idea as to where the Euro plans on going. There's a lot of potential for this currency to make annual highs, but of course we just have to wait for confirmation in these next few session hours. After that, we can determine our trade for next week if plausible.
Long
by jordvnflows
1
EURUSD and DXY confirming signal of change in trend for dollarEURUSD EURUSD and DXY EUR is tracking an inverse set of parallels to DXY. When EUR breaks lower it's a second sell/add shorts signal which must be confirmed by DXY breaking above the upper parallel containing this impulse wave from inception. DXY has to break and hold above that parallel before the bears will back off - but it's fighting here, where it should if it's to turn back up from here. The confirming signal is the break above the upper parallel. DXY Dollar Index Despite the spike and noise surrounding CPI numbers yesterday DXY has been forced back down the same small parallels it was travelling down before the numbers hit the newsfeeds. As in last comment Dollar bulls still have the double bottom on their side here. The last one was one week apart, this one is 2 weeks apart. The Dollar is likely to hold here at these lower levels and then begin to rally. It's waiting on Wall St to open now but bears in London have failed to push it below the double bottom. A sign of waning downside momentum. Once it can break above the upper small parallel guiding the descent it should attract more buyers and move back up to test the 89.37 line where it will likely meet resistance again...it has to push on through here during the course of today for the bulls to gain more traction and flip DXY into more positive mode from this point. This battle may take some time to resolve - DXY has to fight its way through three lines of near term resistance at 89.37, 89.51 and then 89.62 to turn back to positive again. Look to buy dips here and on the pairs with stops under 88.40 on DXY for small loss if wrong from here. Increase longs on move above the smaller upper parallel. On downside, DXY will have to break below 88.40 today to change this view to near term negative but only back to 87.70 at lowest where DXY should find final support and begin to rally again. But so long as 88.40 holds up today the Dollar's downtrend is finally coming to an end.
by sumastardon
LTC/USD Double Bottom ReversalLitecoin chart is looking to show good signs of reversal. I found a double bottom pattern that follows the rules pretty accurately. Ive noticed the first leg ends before the second leg and there is a good amount of volume throughout these bottoms. The space between the moving averages is decreasing, once we see the 8 EMA (green) move over the 55 EMA (red) it is a good confirmation we are moving in an uptrend. Once the candles close over the trend line resistance we will see it shoot towards the neckline. After it is passed the neckline it will retest it as the new support and move on from there. **The green lines are not price predictions they are just showing what will happen once it passes the trend line resistance** I am not a professional, i am still learning. If there is anything you would like to point out about my analysis please feel free to comment as i appreciate any help/tips. Thanks
COINBASE:LTCUSD
by nickd534
BTCUSD - End of Correction? Bull Trap? Opportunity!Is this the end of the correction or is this a bull trap? We don't know yet. Nevertheless, it's worth a shot. Bitcoin is showing new strength by breaking 15000$ resistance level with highly increased volume. This is also the bullish confirmation of a symmetric triangle pattern. Depending on future movement this could be a short-term trade or the opportunity to build a long-term trade. Because of this I entered at 15000 with 10% of the maximum amount I'm willing to bet on Bitcoin in the long run. I only consider opening trades that show a risk:reward ratio higher than 2:1. Time to do some math: Target: 19000$ Entered at: 15000$ Stop: 13299$ Risk:Reward Ratio: 2.35:1 Good Luck. Disclaimer: I'm a relatively unexperienced trader, so don't consider this investment advice. I'm mostly here on tradingview to improve my trading skills. So don't hesitate to give some feedback.
BLong
by HFBN
GBPUSD Triangle PatternAfter multiple touches on the flip line and forming of triangle, there are 2 possible scenarios for this pair: it could break the flip line downward reaching the 0.382 fibonacci level and bouncing on the support line or breakout could occur upward (in this case we consider valid the 0.5 Fibonacci level). In both these cases we chose as target the higher horizontal line!! Great chance to profit entering a trade with RRR 5+ and tight SL! Always wait for confirmations!
Long
by c_cap11
Entry Levels I Am Watching For A ₿itcoin Entry or ExitThis is a short term play I am watching for good entry, I will either add to the long I have been riding the last 24 hours or close it and pull open a short once either of the levels listed below cross. ₿itcoin BITFINEX:BTCUSD is very Bullish but as a day trader I ride multiple positions daily based on its movements. Riding a Bullish position has been one of the easiest things to do lately. That being said I am watching to either add to my long or close it and open a SHORT TERM short at these Bitfinex BITFINEX:BTCUSD levels: For Long: SOLID break out above $13,983 , WITH $13,897 being where my alarm to watch momentum indicators is set. I have moved my current stop loss to $12,681 which puts me well in profit, I will adjust the stop as the support moves up. For Short: This is where it gets complicated, I DO NOT RECOMMEND OPENING ANY KIND OF SHORT POSITION IN THIS MARKET , but what I am looking for is a break BELOW the ORANGE curved line . (parabolic support) That is my running support on this local move that will determine my position, at that point I close my long well in profit and watch for the next support breaks (plural) shown in RED. (also watch the BB for any movement on the bottom) If the momentum and strength indicators show weakness on MULTIPLE time frames then I consider opening one. My stop on the trade would be just above the Parabolic support and I will allow it to hit with very minimal loss on the short. This is the most sound advice anyone can give you on a short. Keep an eye on this candles close pattern below on the Bitfinex 4 hour which closes in 20 minutes as of this writing, the formation will tell me everything on the direction of our future price movement. Anything in between these levels for the next few hours is a NO TRADE ZONE unless you are already holding a position. I am big on waiting for confirmation on positions so I highly recommend you do the same. At this point I am very Bullish on BITFINEX:BTCUSD for the year, but this is a short term watch as a day trader.
B
by Nick_Core
4