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ETHUSDT (ETHEREUM) DAILY TRADE SETUPS 2020/12/23SHORT TRADE SETUP: False breakout followed by price dump In this scenario, we are waiting for price to break above the high of $670 and then breakdown for us to take a short position. Entry criteria for opening a short position: 1. Price Action: Price breaks above the high of $670 and then rapidly falls below $670, forming a bull trap 2. Candlestick Pattern: A breakout candlestick (candle close above resistance @$670) followed by a breakdown candlestick (candle close below $670), ideally breakout and breakdown candlesticks are consecutive candles, but can also have a few candles in between the two. 3. Volume: Above average volume (volume above the average volume line) on both breakout candle and breakdown candle, ideally the breakdown candle's volume is a local high 4. MACD: MACD histogram topping out, as indicated by the histogram becoming less positive (color changing from dark green to light green) Ideally we get all four confirmations for an entry, but sometimes we might take a trade when we have fewer confirmations. The more confirmations, the higher the win probability, though it also means you miss out on some profitable trades if you're only taking trades when we have all confirmations. It's up to your own risk appetite to decide when you feel comfortable entering. Make sure you practice proper risk management and money management. If price breaks out above $670 with significant force, as indicated by volume and large size of green candle, we might look to go long on a retest of the $670 level turning from resistance to new support (S&R flip trade). We adapt to the market as market conditions change so that we've always moving with the markets and not against it. I will be updating this trade as price enters the trade zone, and when we see confirmations for entering a trade, and will then provide stop loss and take profit targets. MAKE SURE YOU FOLLOW ME SO THAT YOU DONT MISS TRADE SIGNALS AND CAN FOLLOW THE TRADE IN REAL TIME! DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.
by cryptotraderog
2
BTCUSD - Opportuntiy to SELLHey everyone, here's my analysis on BTCUSD Summary: There was a breakout of the trend line and price is making a pullback to its previous breakout level where we could see a drop, as illustrated by the yellow dotted lines. Action: Sell Limit: 7120 Stop Loss: 7343 Take Profit: 6567 Analysis: On the D1 chart, price is facing a key resistance zone which it failed to break above, as seen by the most recent wave of drop in price. When we look at the H4 chart, there was a breakout of the trend line and price is making a pullback to test the previous breakout level and we could see a drop from the first resistance zone, between 7120 - 7195. Disclaimer: There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. Trading BEAN and all individuals affiliated with this site assume no responsibilities for your trading and investment results. All contents featured here are solely for educational purposes and ARE NOT investment or trading advices. Please do your own due diligence and trade at your own risk.
BITFINEX:BTCUSDShort
by TradingBean
7
Ontology: Aiming for the 0.9550 resistance.ONTUSD is trading within a Channel Up on the 4H chart since he January 3 bottom. Levels to watch: - The MA50 on the 4H chart is supporting so far the uptrend. As long as it doesn't break, the price targets the 0.9550 Resistance 1. - If the MA50 breaks the pattern makes a pull back for a higher low. This happened in January 19. Projection: - This appears to be simple Channel trading. As long as the MA50 holds, we are expecting a higher high on the 0.9550 Resistance, followed most likely by a pull back for a higher low. This is until the Channel Up gets invalidated. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BINANCE:ONTUSDLong
by PrimeXBT
Tron's top may be near based on this fractal.TRXUSD is testing the 5-month Resistance following the December/ June aggressive rise. Levels to watch: - The Resistance is at 0.0235 the Support at 0.0121. - A Golden Cross is about to take place on the 1D chart. Last time this happened on a top (February 1 2019) Tron turned sideways for almost 4 months. - The RSI is printing a similar pattern to February 2019. - That former consolidation found Support on the symmetrical top of the previous higher high. Projection: - This may be a cyclical pattern with the Golden Cross marking the top of a bullish leg and then lengthy consolidation until a new high is made. We are expecting a similar behavior. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BITFINEX:TRXUSD
by PrimeXBT
Bitcoin SV: Potential pull back.BSVUSD is consolidating after the aggressive run that led to a peak on January 14. Levels to watch: - The Resistance is at 457.500 while the Support at 76.500. - Golden Cross took place right after the January 14 top. Last time this happened on a top (June 2019) it initiated an extended pull back to the 0.786 Fibonacci retracement level. - The MACD is printing a similar pattern to June's 2019. - 253.500 is the former Resistance and where the price found Support after the January 14 top. Projection: - This appears to be a cyclical pattern for BSV. Golden Cross marking the top of a bullish leg and then progressive decline first towards the 0.500 Fibonacci and then a bottom on the 0.786 level. If however the 457.500 Resistance breaks, then this pattern is void and we can see new highs. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BShort
by PrimeXBT
1
ETHEREUM Aiming for the next resistance at 225.ETHUSD is extending the Channel Up on the 1D chart since December 2019 low. Currently it is attempting a break out above the 199 Resistance. Levels to watch: - The Resistance is at 225.00 while the Support at 153.50. - The former 199.00 Resistance is being tested at the moment. - The MA50 is now on the 153.50 Support. - The price is above the MA200 for the first time since September 2019. Projection: - Even though it is still marginal, the break above the 199.00 level is a call for further upside within the Channel Up. The 225.00 Resistance fits well with a new Higher High. Also the extension from the latest Higher Low will be 45%, similar to the last Higher High extension. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BITFINEX:ETHUSDLong
by PrimeXBT
2
BITCOIN Critical test on the resistance.BTCUSD is trading inside a Channel Up since December 18 2019 (monthly low) on the 4H chart. Levels to watch: - The Resistance levels are 9600 and 10370 while the Support levels are 6850 and 6430. - The Channel Up is making the first important test of this uptrend on the 9600 Resistance 1 level. - The Channel up is following a very clear Higher Low pattern. Each Low finds support on a previous High and rebounds. - The 4H MA200 has been supporting and hasn't been touched since January 03. - The RSI is on a 20 day support level. Projection: - Everything depends on the 8800 level. This is the symmetrical support inside the Channel Up. If it holds then the pattern may continue upwards to test the 10370 Resistance (2). If 8800 breaks then the Channel Up is void and the price may test the 0.5 Fibonacci level. Chances are very even: shorter term momentum favors the bullish extension due to the pattern and the RSI being on a support but longer term bias give strength to the 9600 Resistance as a level where traders who bought the December bottom may start taking profits. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BITSTAMP:BTCUSD
by PrimeXBT
1
IOTUSD Heavy bullish sentimentIOT has broken above the 1D Channel Up that started the strong uptrend early in January. Levels to watch: - The price not only crossed above the Channel Up on the 1D chart but also broke the 0.618 Fibonacci retracement level. - It is comfortably above both the MA50 and MA200 and in fact a Golden Cross may be due. - The 0.3150 four month Resistance broke. - The RSI on the highest values since December 2017. Projection: - This is a strong bullish signal with IOT potentially turning parabolic here. The targets are the next Fibonacci retracement levels: 0.786 = 0.4200 and 1.000 = 0.5580. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BITFINEX:IOTUSDLong
by PrimeXBT
EOS Bearish fractal or emerging Golden Cross?EOSUSD is on a rebound since the December low and is testing today the September Resistance. Levels to watch: - The Resistance is at 4.2550 while the Support at 2.1200. - The price is already above both the MA50 and MA200. - The MA200 is in fact providing Support, keeping the price sideways within the trend line and the Resistance. - The RSI is on a bearish divergence and the candle fractal (bearish) is similar with late October/ early November. - Emerging Golden Cross. Projection: - If the price fails to close a 1D candle above the 4.2550 Resistance, then EOS will most likely pull back towards the MA50, which in turn if cross may drop further towards the Support. If on the other hand the Resistance breaks, we will see a Golden Cross forming towards 6.1700. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BINANCE:EOSUSD
by PrimeXBT
RIPPLE MACD turned bearish. Weekly overview.XRPUSD is consolidating after the Jan 18 high and broke this month's channel up sideways. Levels to watch: - January's uptrend stopped exactly on the lower high trend line of the medium term channel down that started in August. - That lower high was right below the MA200 on the 1D chart. The MA200 has sold the price and acted as a resistance on several occasions since July. - So far the price has found support on the MA50 1D. - The Support is set at 0.1700 and the Resistance at 0.33000. - The MACD turned bearish. Projection: - Since the uptrend stopped on the lower high of the August channel down (which is the dominant trend) and the 1D MA200 held, there is no reason at the moment to believe that the same pattern will not be repeated and go for a new lower low, especially with the MACD turning bearish. Technically if the MA50 breaks we should expect a run towards the 0.1700 Support. If however we have a 1D candle close above the MA200 (hasn't happened since early July, we only had wicks), then buyers may push is as high as the 0.3300 Resistance. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
BINANCE:XRPUSDShort
by PrimeXBT
EOS Broke Its Bullish Channel DownsideThe cryptocurrency market is flashing red again. Specially EOS lost over 3% in the last 24 hours. The digital coin now is fighting to come out of a sideways trading trend below $3.0. At the same time EOS is trading below the 100 SMA and the 50 SMA on the daily chart. The nearest resistance for EOS/USD is 2.70 area which is critical. This area includes 50, 100 SMAs, a middle line of the Bollinger Bands and the trend line of resistance (on the bullish channel) on H4 chart. A clear break above is needed for the bulls to extend the upside momentum for testing the recent highs at $2.85 since end of Nov. and first days of Dec. Next resistance is a psychological $3.0 level, but for sustainable move over it EOS will need the support from the broader market with a broad-based crypto rally. On downside, a clear break bellow daily lower Bollinger Bands at 2.50 should extend the sells pressure for retesting the 25th Nov.'s bottom at 2.29. The RSI is horizontal at 38 after correcting from levels slightly below 30.
BINANCE:EOSUSD
by ForexTrendline
XRP Institutional Adoption Hits All-Time High, but is it Enough? Starting in 4Q2016, the Ripple Company began releasing a quarterly XRP Markets Report to comment on the health of global XRP markets, provide updates on the current state of cryptocurrency markets, and disclose quarterly Ripple ( KRAKEN:XRPUSD ) token sales. On October 25th, 2018 the Ripple Company released their 3Q2018 XRP Markets Report which detailed that the Ripple Company sold USD$163.3 million worth of XRP in 3Q2018. More importantly, however, USD$98.1 million worth of XRP was sold by the Ripple Company directly to institutions. Institutional adoption is absolutely critical to XRP's success -- the foundation of the world's third-largest cryptocurrency is built on financial institutions using XRP as a means to facilitate high-speed payments. USD$98.1 million worth of XRP sold to institutions in 3Q2018 represents a 400.3% y/y increase, pointing to potentially strong levels of institutional adoption which could, in turn, drive demand, daily volume levels, and above all, promote adoption of the cryptocurrency. Upon XRP's creation in 2012, the Ripple Company allocated 55 billion XRP tokens into a cryptographically-secured escrow account. Currently, there are about 50 billion XRP tokens in that escrow account which is roughly equal to the current circulating supply of XRP. In 1Q2019, while XRP was trading at its all-time high, the Ripple Company sold a record USD$167.7 million worth of XRP tokens with only 9.90% of XRP in that quarter being sold to institutions -- as comparison, 60% of the XRP sold in 3Q2018 was sold directly to institutions. This event raises concerns that the Ripple Company participated in profit taking the moment that XRP observed any sort of traction. Another concern raised from this event is that the Ripple Company may have oversold XRP tokens in 1Q2018 and exacerbated the cryptocurrency's decline in January 2018. XRP is a cryptocurrency with a ton of potential and proven success. Financial institutions across the globe are beginning to implement XRP and Ripple's xRapid platform into day-to-day operations, but does the Ripple Company have the best intentions in mind? Unlike a stock, the Ripple Company's management owes no obligation to the holders of XRP. If XRP sees another price uptick, will the Ripple Company react by rushing to maximize their profit and sell XRP? Currently, Quantamize’s AI Machine Learning 3-Day Crypto Signal for XRP is 'Do Not Own' and was updated yesterday morning. Our AI Machine Learnings 3-Day Crypto Signal for XRP maintains an accuracy score of 64.53%. Let us know what you think in the comments below! Would love to get some other investors' opinions on this!
KRAKEN:XRPUSD
by Quantamize