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Correction

Correction of BitcoinHello Traders As you can see in the chart above, Bitcoin is currently in a resistance zone which can cause capitulation. I Screenshotted a metric from Glassnode called addresses with a supply of more than 1K, Which decreased drastically in the previous bitcoin bullish movement; this alone can confirm the technical scenario. On the network data side, I saw most of the bitcoins that moved in the last day were mostly in profits—another risk to the price. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
BTC In A Corrective Pullback: Intraday Elliott Wave AnalysisBitcoin made sharp reversal and strong recovery last week, which we see it as a five-wave bullish impulse from Elliott wave perspective. With recent sharp decline into wave (a), followed by current recovery in wave (b), there's a chance for another wave (c) drop to complete a higher degree wave "iv" correction. Ideal support comes around 20.000 level that can also fill the BTC CME Futures Monday's GAP before the uptrend for wave "v" resumes ahead of the weekend. Happy trading!
CME:BTC1!
by ew-forecast
7
USDCAD I Impulse correction and continuationWelcome back! Let me know your thoughts in the comments! **USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
17
DXY USD - MONTHLY ANALYSIS - CORRECTIONThe USD has been in an uptrend since March - 2008 and has been dominating the financial markets and the global economy with toxic pressure since last year. - Today, I would like to present an analysis that takes a closer look at the USD (DXY) from a monthly perspective. We are at several relevant resistance points: 1. FIBONACCI RETRACEMENT | 0.88 - is about to be tested. -> 0.88 FIB = 114.979 -> Marked as a "blue" line on the chart. + Next psychological number would be 115,000 as resistance. -> Psychological numbers are relevant decision points, because the human brain (subconsciously) prefers round numbers, at which more orders are placed. 2nd RESISTANCE TREND LINE | from 2008 -> 7 points of contact since the formation = very strong resistance. -> Drawn as "red" line in the chart. 3. SUPPLY ZONE | from 2002 (gray) -> Time expired, but still psychologically relevant for market participants. -> Drawn in as a "gray" box in the chart. 4. POINTS OF INTEREST -> Points, which are mostly a psychological number, at which some liquidity was traded in the past. = these points can be seen as both "support / resistance". -> Drawn as "turquoise" lines in the chart. These are now only a few indicators of those which are available to us all. However, even without indicators, it can be seen that the USD (DXY) is clearly overbought and a correction (from a chart-technical point of view) should be imminent. Regardless of our analysis, the macroeconomy currently determines the further course of events. Detailed price predictions are thus a matter of blind potshots, and that is the last thing we need in trading. "Correction scenarios" 1. We see a reaction of the trend line and the 0.88 Fibonacci and will correct a little. -> Possible correction target = 107 points 2. The DXY breaks the trend line and the 0.88 Fibonacci and is then finally stopped out by our "SUPPLY Zone + the Points of interests". -> Possible correction target = 109 points "Breakout scenarios 3. The DXY breaks through all marked resistances, makes a fakeout and enters the correction. -> Possible correction target = 111 points 4. The DXY breaks through all marked resistances, confirms its breakout and starts its journey to the 1.618 Fibonacci. -> Possible correction target = 152.129 points Alright, now we can only wait and see what the future will bring us. - Feel free to discuss it in the comments and share our perspectives. Thank you very much and happy trading!
TVC:DXY
by ZielIstDieAutarkie
BTC. Some correction incoming? Based on their previous analysis, after the double bottom has fully worked out, we can expect to work out the inverted H&S. But there is a strong order block above us, so it is quite logical to expect some grab of liquidity from a bull trap. Therefore , for this setup , it can be painful to use large leverage since the stop is wide enough . The main target of this setup will be a retest of the confluence point of the horizontal and inclined levels and a possible retest of D1 55 ema. DYOR and trade safely
Short
by NT_crypto
2
BTC: BEST POSSIBLE SCENARIO FROM HERE!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this BTC update. My previous BTC analysis went wrong, I didn't expect that quick pump from $18k to $21k and IMO no one caught that kind of move. Still, I fully accept my mistake and try to learn more daily from the market. Now, let's get to the chart. As you see, BTC is forming a large falling wedge-like structure in the 2-day time frame and currently rejecting from the upper trendline of the wedge. From here, I'm expecting a correction up to $18k-$19k and this is the zone where I buy everything with a tight SL. I'm expecting that after reaching the $18k-$19k zone, BTC will start pumping and breaking this falling wedge. Once it breaks above it then be ready for $30k Invalidation of bullish scenario will be close below $18k So as of now wait patiently until BTC reaches the support zone ($18k-$19k). Meanwhile, in between, try to do some scalp with a strict SL. What do you think about this? Do you agree that BTC should do a pullback from here? Let me know your thoughts in the comment section. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
18
BITCOIN Will Have a Correction Before Going Back BullishHello Bitcoin traders, Bitcoin has been very bullish for the past two days, but always be ready for a correction because many signals show that it is still overbought (see my previous post for 4 signals). With the Fibonacci Retracement, we see many moments where the principal lines served as support or resistance for the price. The price has now reached the "Golden Pocket" where reversals often happen. We can expect the price to have a slight to medium correction before continuing its bullish rally.
BITSTAMP:BTCUSD
by YanakTrading
2
4 signals shows that BITCOIN is overbought.In this chart we see many signals that indicates that Bitcoin is overbought and that the price will soon be corrected and go back down. - A trendline connected 3 corrections, but then the price rallied, thinking it doesn't has to come back to the trendline, meaning it is too bullish and is overbought. - Candlesticks broke above the Bollinger Bands (BB), meaning there is an upcoming reversal. - RSI is above 70 (=overbought) - Bollinger Bands %B is above 1 (=overbought) Using the TBS Strategy, consider selling when the BB %B crosses down.
BITSTAMP:BTCUSD
by YanakTrading
1