NOOBIE ANALYSIS|BITCOIN|DAILY|FALLING WEDGE
Started a few weeks ago on studying charts
trying my hand with crypto now.
STOCH RSI is in overbought zone on daily and 2 hour shown above
Relative volume is slowing down
$24100-$23900 range is a possibility before going up or down.
Not taking any trades until confirmation.... via paper trading ;)
Cryptos
FTMUSDTHello dear friends
The price range of $0.2929 is very attractive for Phantom, it has reacted interestingly when approaching this range in the past. Of course, it should be noted that the reaction did not create a higher ceiling.
If the downward trend line is broken upwards, provided that the loss limit zone is maintained, there is a possibility of forming an upward trend.
TWTUSD Incredible buy opportunity.TWTUSD almost hit two days ago the bottom of the 2 year Channel Up and by that made a technical Higher Low.
Practically that is an incredible buy opportunity on a 1 year basis.
The decline is almost the same (-74%) as the last Higher Lo on February 24th 2022.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.4000 (Fibonacci 0.5).
2. 2.5000 (near the All Time High).
Tips:
1. The RSI (1d) got heavily oversold under 20.00 for the first time in the token's history and rebounded over its MA level inside one day. A strong indication that the market deems these levels as a strong demand zone.
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Flash Crash or Bear Trap? (Bitcoin)The fact we are so close the Big Fib time date end of June 2023 and I still can't confirm which way this is going to swing is frustrating.
Last year it was so clear coming up to the fib date , this year price could swing either way.
For me there is two ways this is going to play out next 30-45days
1. We Flash crash down to retest the cycle low at 15k every cycle we create a double bottom , right now we keep be forming this crashing pattern that will take us back down to 15.5k.
As you can see it is a very distinct pattern it can appear in any timeframe , the higher the timeframe the longer it takes for the pattern to form .
There crashing patterns form everywhere not just Bitcoin.
So if it did flash crash then it would look very similar to 2015.
2.
Now the second outcome here is a massive bear trap and a massive move up to 40k end of June 2023.
Check this out.
We bounced massively off this moving average last time creating a huge bear trap. If it is going hold and reverse this is it , once we close under this moving average its over.
SPX500 bump and run reversal pattern still not reached its technical target .
We could still see a melt up in June 2023 for the SPX which would give a higher chance that Bitcoin hits 40k aswell.
So as you can see how things can swing each way , we break the yellow triangle and close above it for Bitcoin we go up or we continue making lower lows we will complete the crashing structure , guess we just have to wait.
BNBUSD Is there any salvation for the Binance Coin?The Binance Coin / BNBUSD had a week of enormous selling pressure last week, touching on Monday Support A (220.00), that was formed on the December 17th Low.
This is a strong long term buy opportunity. Target initially Resistance A at 318.00 and by the end of August Resistance B at 350.00.
As shown, the primary pattern is a Rectangle.
If the price closes under Support A, target Support B at 194.00 on the short term. However given how emormously oversold the 1day RSI got (at 15.00) on Monday, this is unlikely. Still that would be an ever better long term buy opportunity.
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KASUSD Best buy opportunity over the MA50 (1d).KASUSD continues to be supported by the MA200 (1d) exactly at the bottom of the Channel Up.
The MA50 (1d) behaves as Resistance, containing the price under it since May 6th.
Trading Plan:
1. Buy if a (1d) candle closes over the MA50 (1d).
Targets:
1. 0.0800 (Fibonacci 1.5 level, which was a Higher High on the previous MA50 breakout).
Tips:
1. The RSI (1d) is on a pattern that looks very much like the December-January bottom. It is even above the MA trendline, which serves as an additional reason to expect a bullish breakout.
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Notes:
Past trading plan:
ATOMUSD Channel Down bottom rebound with immediate target $10.Cosmos / ATOMUSD is rebounding after almost reaching the bottom of the long term Channel Up.
This rebound is being fuelled by an enormously oversold 1day RSI.
Buy and target the 1day MA50 and dashed trendline at 10.00 short term.
If the price closes over Resistance A (11.00), buy again and target Resistance B (13.00) on the medium term.
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BTCUSD: Double buy entry plan. Bottom is close.BTCUSD is technically on red indicators on the 1D time frame (RSI = 41.679, MACD = -426.400, ADX = 31.022) as it is inside a Channel Down pattern since April 14th and under the 1D MA50 since May 7th, but is near the HL trend line that is supporting throughout 2023.
There are high chances of holding this trend line so our strategy involves placing the first buy now and the second on the 1D MA200 in case the HL line breaks. The medium term target is the R1 (TP = 32,000).
Observe how the price action of the last month is much alike (also on the RSI) with that of December 2022, both under the 1D MA50. This bolsters the probabilities for a rebound. Additional validation will come after the RSI crosses over the LH trend line.
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XRP long Trade Interesting setup here on XRP. I normally don't trade this coin, but its chart has been showing something very interesting. There seems to be a big move stirring up.
Looking at the 2D RSI, we can see that we are oversold. Also, if we look at the past year, we can observe that significant moves have occurred from these RSI levels.
Currently, XRP has closed three 2D candles above its old resistance, flipping it to support. This is a bullish sign. Additionally, the 0.75 Fib Fan is holding strong.
XRP is exhibiting some very interesting behavior on a macro scale.
. It seems to be following a fractal from 2015. I have been monitoring this all year but haven't conducted a technical analysis on the macro outlook yet. However, it seems that a price of $13 by 2025 is very possible. It appears to be quite bullish, similar to the previous one.
As always, if you're interested in trading , I would suggest buying XRP3L tokens on Bybit and then sitting back and relaxing. However, keep in mind that XRP tends to have massive swings, so there is a high chance of getting stopped out on normal leveraged contracts.
How many times....At this point , atleast for me since I been looking at these patterns for years its easy to spot when we are going to have reversals , its the same protocol guys
1. Mass FUD
2.Create Fear
3.Flash Crash
4. Reversal
rinse and repeat over and over again. The bigger the timeframe and larger and reversal.
Ripple Multi Time Frame Analysis - 4 hourly chartRipple Multi Time Frame Analysis dear Crypto Nation - here you are🤗
1/3 - 4h chart:
After a bullish EMA20 & EMA200 cross both lines might come close together again at least.
A bearish correction to FIB golden pocket and Volume profile to $0.46 would be still healthy.
Let me know your thoughts in the comments🤗
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Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
Reasonable Crypto Trade on weekly ZEC chart?Reasonable Crypto Trade on weekly ZEC chart?
Risk/Reward Ratio = 15
Let me know your thoughts in the comments🤗
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Likes and Follow for updates appreciated🤗
Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
Binance Coin Can Be Finishing A Larger Bullish TriangleBinance coin is trading sideways for more than 100 weeks, similar as back in 2018-2020.
We see it as a long corrective consolidation within uptrend, ideally as a larger bullish triangle pattern in wave (4) that can take the price higher for wave (5) in the near future.
Despite recent negative news that U.S. regulators sued Binance and its CEO Changpeng Zhao for breaking the US securities rules, we can actually see it now trading in final subwave E of (4) that can find the support around the lower triangle line and base channel resistance line. Binance is actually already bouncing back with comments »We will defend ourselves against the SEC suit vigorously. The SEC lawsuit is baseless. We remain open to a productive compromise." So, don't get bear trapped and be aware of a bullish resumption into 5th wave in the second part of 2023.
MASKUSD: Triangle breakout can get it to $7.00 fast.MASKUSD is trading on a Triangle pattern at the bottom of the long term Channel Up. Supported by the 1D MA200 and resisted by the 1D MA50, the 1D timeframe is technically neutral (RSI = 49.176, MACD = -0.028, ADX = 27.319) and the next breakout can deliver a big move.
We will ideally wait until R1 breaks and buy targeting the R2 (TP = 7.17500). The 1D RSI shows, that the market has already bottomed.
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ETHBTC: targeting the top of the Channel Down.ETHBTC is consolidating right now on neutral 1D technicals (RSI = 55.810, MACD = 0.001, ADX = 53.149) supported by the HL trendline. A bounce on the 1D MA50 would be ideal for a new buy, but if it breaks the trend turns bearish. Until it does, we are bullish, targeting the 0.9 Fibonacci (TP = 0.07200) as it happend on January 2023. But of those where the bullish waves inside a long term Channel Down.
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BTCUSD has a mid rally consolidation. 39-49k possible next.Bitcoin is consolidating under the 1D MA100 but on the LL trendline that started early at the end of the last Bull Cycle. We are on the 1W timeframe where the technical indicators are neutral (RSI = 53.611, MACD = 1576.400, ADX = 26.280) suggesting that on the long term this is a solid buy level.
So far it is following the trading pattern of the previous Cycle fairly well as, though longer, this consolidation is also under the HL trend-line. Both Bear Cycles were in a Triangle on their early stages and their bottom was formed on a Cup pattern. In 2019 when the price crossed over the 1D MA100, it reached the 0.618 Fibonacci level and even overextended to the 0.786 Fibonacci level. That suggests that the next high can be in the range of 39,000 - 49,000. After that if it continues to follow the pattern of the previous Cycle, we should see a long term consolidation supported by the HL trendline and the 1D MA100, until the next (May 2024) Halving when the parabolic rally can start.
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STXUSD Making a strong bullish breakoutSTXUSD / Stacks crossed yesterday over the 2.5 month Channel Down and today over the 1day MA50 for the first time since April 14th.
This is second buy signal after the rebound 2 days ago on the 1day MA200.
Buy and target Resistance A at 0.82000.
If the price then closes a 1day candle above Resistance A and pulls back near the 1day MA50, buy again and target Resistance B at 1.010000.
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Arb dollar short Having plot muly analysis and make it easy for everyone to understand and take position 😉
Yesterday pump to the upside normal happens in the market, when you check if from a daily timeframe then you will know where the market is actually going
Spirit of the living one, make us profitable
Bitcoin Long Trade 20230606 Bitcoin Long
Risk / Reward: 4.99
BTC , BTCUSD , BTCUSDT , BTCUSDT.P , BITCOIN , CRYPTO, CRYPTOCURRENCY
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make your own decisions and be responsible for your own investing and trading Activities.