WPRTS - Pre Consolidation BreakoutNO INVESTMENT ADVICE IS PROVIDED
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Consolidation-breakout
BTC - weekly setup similar to May-July 2017Hello,
Few days ago I shared an idea about a potential bearish reversal triggered by the Diamond pattern on the daily chart.
Now the situation is that the pullback is a fact, but it's mainly triggered by FUD events, which usually don't have long-term effects on the price and are absorbed sooner or later.
Additionally, we are most certainly at a support
But this is not actually what I wanted to share in this idea. Some time ago I posted another idea looking at the BTC past performance that might help us prepare for what is to come and give us some food for thought.
Here is the idea:
__________
BTC Weekly chart:
Still in a long-term uptrend corridor, the price touched 21-day EMA which usually indicates the beginning of a trend reversal once the price breaks below it. What is more, we have a local price channel that is currently broken and the price has to recover to the levels above $50,000 to keep the bull run intact.
But if we go back to the May-July period in 2017, we will notice that the bull run was in its mid-phase when quite a deep correction occurred. You can clearly see that the price was struggling at a horizontal resistance on Weekly just like it is doing now, and then it broke down touching the 21-day EMA. A 34 percent pullback. What we have now is 30 percent pullback from the top.
BTC dominance is again below 45 percent - just like in May- July 2017, but what is more fascinating is the ETHBTC pair which is at the exact same level as back then and we all know what followed.
I cannot make general conclusions from this just sharing some thinks I noticed on the chart and I cannot just disregard the similarities I see.
Cheers,
XRPUSD - Short Term Bullish Towards Consolidation Upper LimitNO INVESTMENT ADVICE IS PROVIDED
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UMA-USDT(Consolidation Breakout)Universal Market Access or UMA seeks to decentralize the financial derivatives products such as Futures, CFD or Total Return swaps.
For the past 3 months, UMA has been trading in a Horizontal Channel formation . Closing above the resistance trendline $33 may trigger the price of the UMA token to new highs.
Key levels to watch out for-
Support to the lower side is present at $35 while it may rally to $44 after the breakout.
LINK-USDT(Consolidation Breakout)The prime leader of the decentralised oracle network and the backbone of the protocols is all set to fly to New highs.
On 2 Hourly Time Frame, LINK is looking really bullish. It has given a breakout from the Bullish Triangle pattern and is currently consolidating near the resistance level of $41. Closing above this level may trigger the price to New highs.
Key Levels to Watch Out For:
The support to the lower side is present at $38 while it may move to the levels of $50.
ADA-USDT(Horizontal Channel Breakout)While Cardano remained silent in terms of price action as it was Consolidation in a range ($1.01- $1.48) , its peer crypto assets took advantage of this opportunity and dragged ADA to 7th place in terms of Market Capitalisation snatching away its title of 3rd most valued crypto asset at the beginning of 2021.
In the 4 Hourly Time Frame, ADA broke away all the shackles of bears, which can be validated by the massive surge in volumes to the levels of 363.7 Mn.
It has marked the initiation of Bull dominance and is likely to reach untouched levels.
Key Levels to Watch Out For:
The support to the lower side is present at $1.4 while ADA is well-positioned to give the target of $1.9 .
1inch-USDT(Consolidation Breakout)1Inch is a DEX aggregator built on Ethereum blockchain that provides traders to place large orders through its swapping techniques across different DEX. At the time of writing, $347.6 Mn is locked in its protocol.
On the Daily Time Frame, 1INCH is trading in a narrow range ($5.15- $5.8) for the past 7 days.
Key Levels to Watch Out For-
The major resistance to the higher side is present at $6.35 . Closing above the level may witness huge momentum to new highs.
After the Breakout, 1INCH may give targets of $8.2 .
The support to the lower side is present at $5 .
SENDAI - Pre Consolidation Breakout Pre Consolidation Breakout Setup.
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PTARAS - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any recommendations and not to cause inducement to the public to take action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives. The author will never provide any investment or trading advice as the activity of giving investment advice is likely to be considered as a regulated activity under the Capital Markets and Services Act 2007 ( CMSA ). All posts made in Tradingview do not include any communications involving providing recommendations or opinions or includes any material, content or any statement which are likely to induce a person to take any action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives that is likely to be considered as “advising others concerning securities or derivatives”. The author will not recklessly make any statement, promise or forecast that is misleading, false or deceptive to induce or attempt to induce another person to deal in securities or derivatives. None of information posted in post can be used as investment decisions. Do not trade solely on the information posted. Trade at your own risk and judgement. A trader could potentially lose all money. Only risk capital that can be lost without jeopardizing ones financial security of lifestyle. Please seek licensed professional guidance if you plan to invest your capital seriously.
Week 18: ZSK2021 Consolidation .. wait for a break The big drop last week was not sustainable; it was a big seller momentum but the price did not manage to breakthrough $15.20 level; it failed twice (double bottom).
Therefore, currently the price is in range $15.20 to $16.00.
On the side note, in H4 (as I write this), the current 3 candles are pushing higher with a small gap in between; it shows the Buyers are back in the game and pushing hard.
The question is whether this push will break $16.00 to create a Higher High, we shall see.
SLVEST - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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KERJAYA - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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SCABLE - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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GUH - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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FAJAR - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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GETS - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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DANCO - Pre Consolidation Breakout Pre Consolidation Breakout Setup.
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MUDA - Pre Consolidation BreakoutPre Consolidation Breakout Setup.
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Where Is The Tech Sector Headed This Week?I would love to say I'm Completely bullish on this. The chart shows consolidation at a key level, which could mean we will breakout to ATH's soon. However, the RSI just broke an important trend line and is near the top line. In addition to that, we have many more earnings dates this week, which could be a bearish sign. I think the most likely outcome here is more consolidation. Last week was a major earnings week and we didn't take too big of a hit. However, I would remain mindful of the fears of inflation and the bearish RSI formation. Good Luck!
XRP Looking For That .702 BreakoutBy now we can say that btc has finished with its correction and so is the rest of the market. For XRP i actually believed that we are gonna retest 3 year old support sitting at $0.75 but that did not happen.
Now that we are almost out of the woods, we are starting to ask ourselves where is that price level that if we break above it we could go parabolic. For that it is good to look at the near past what has happened this year that could give us some clues.
If you extend the fib. retracement tool from "pump and dump" and that low, we can clearly see that once we broke above the 0.702 level (green dot) we went essentially parabolic with almost full extension to $2. If we do the same for this recent correction we see that we are very close to that level. It is hard to say in a short term what the prices could do from here. It could consolidate back to $1 area and then back up aggressive or we could just break above and go for a full extension in a couple of days /weeks. Just poking above that level doesn't confirm anything, as we have to have a clear break above to get a stronger argument of a parabolic rise.
I am not a financial advisor so nothing here should be taken as a financial advise. Wish you all successful investment.
BITSTAMP:XRPUSD
ETH-USDT(Consolidation Breakout)On Daily Time Frame, Ethereum has been trading in a Consolidation range and has given a decent breakout.
In the past week when the crypto markets tumbled, Bitcoin is still ~16% short from its ATH while Ethereum is trading at its ATH. It signifies the strength and momentum behind this rally.
The support to the lower side is present at ~$2.5 K while it may move to the levels of $3.1 K in the near future.