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57-59K to sellMorning folks, Wow, we've talked about just 60-61K pullback, but BTC just collapsed and has become once again the victim of sell-off. Investors sell "bad assets" to plug holes in balances of "good assets". And from this point of view - BTC is a "Holy cow" of this process. Besides, when 30% of the market is controlled by ETF, I wouldn't be surprised by any action. D. Trump needs as many BTC as he could get and he needs it cheap, so... BlackRock&Co still has a lot of job to do... Obviously patterns that we've discussed last time - just have not been formed, market just dropped, no H&S. So, based on daily picture, BTC is oversold now, but in perspective it is aimed on next downside target at 43K area. Now we're watching for technical bounce, at least to 57-59K area, where we return back to discussion of short entry. Scalpers could try to buy this bounce, if any bullish patterns will be formed on 1H and below. I mark this idea as bullish, because we're watching for the bounce. But our major view is bearish in longer term. Take care.
COINBASE:BTCUSDLong
by Sive-Morten
Watching for 59-60K areaMorning folks, So, retracement that we've discussed on Mon is started, although we thought it will be from 71K area. But M. East escalation has triggered sell-off in risky assets, and even J. Powell comments was not able to support the market. Now, although our 3-Drive pattern still seems theoretical possible, chances stand in favor our 2nd pattern - H&S. So, if you trade on daily and above time frames, I wouldn't hurry up with entry right now. It seems BTC could drop more. At least we could consider next support of 59-60K area. Just keep an eye on H&S... If you're intraday trader - you could consider bullish setups around potential neckline with two upside targets - 66K and 65.7K . They are resistance on 1H chart: Later, it is possible to consider short position as well, with the H&S pattern. It's obvious.
COINBASE:BTCUSDLong
by Sive-Morten
71.65K is the next oneMorning folks, So, our daily bullish setup has worked perfect - grabber has been formed and everything has started. Now BTC in fact has a free space right up to the ATH. So, we suggest that it should be aiming to challenge it. Still, we have another tactic resistance area - trendline on daily chart, based on tops. If we take a look at 4H chart and suggest 3-Drive "Sell" pattern, then it perfectly agrees with the 3rd Drive level - ~71.65K IT doesn't mean that we expect reversal there, although pullback is possible. We just use these extensions to estimate next upside step that BTC could make. Suddenly US bonds yield has dropped sharply which is supportive factor for BTC. Currently we do not see any bearish signs and suggest that BTC will try to reach ATH, if of course coming Fed meeting will not break the game...
COINBASE:BTCUSDLong
by Sive-Morten
Setups for any tasteMorning folks, So, as we've said - don't upset if you missed long entry as we will get the chance later. Now retracement is under way. WE have a few different trading scenarios. First is, those who would like to buy - our B&B "Buy" trade stands very close. Today we could get bullish grabber on daily chart that will be quite welcome. On 4H chart the B&B could take the shape of H&S, or, better to say, its right arm. Thus, those who wants to Sell - keep an eye on 66.50-67K area, where potentially right arm should be formed. Scalp traders also could watch for the bounce from the neckline to the right arm's top, say on 5-15 min chart, patterns etc., as usual. It is the only tricky moment concerning the neck. And this concern is based on 1H downside AB-CD. The problems is CD leg acceleration. The 1.0 AB=CD target is done already, and BTC could try to turn up right from here. But, acceleration tells that 1.618 target might be reach, which is around 62.25$. So, the compromise decision might be is to split position in parts and take it gradually...
COINBASE:BTCUSDLong
by Sive-Morten
GBPUSD - LONG (DAILY RESISTANCE BROKEN)good evening traders, this is my setup looking at the GBPUSD. clearly shows a nice strong trend that has now pushed the barrier of the daily resistance level. can we look to push forward? i'm looking to plant my seed where shown on the chart and the signs during this pair shows perhaps my little seed shall become the full plant over the giving time! let me know what your thoughts are? perhaps show me some further detail on what you think? thank you!
Long
by RJLfamily
1
Waiting for the deep to buyMorning folks, So, reaction on Biden's out is humble. Not only on BTC but across the board. Today it is a small update as nothing has changed significantly. Finally BTC has broken 66K resistance and now, officially, bearish weekly pattern is cancelled. At the same time, despite minor pullback, we haven't got clear H&S shape that we've counted on. Still, I prefer to wait for deep to buy rather than jump in running train. Previous bearish momentum is still here. Following this logic we could monitor intraday bearish patterns. Not for trading but to recognize starting point of retracement and estimate possible downside target. For now we could get either 3-Drive "Sell" or H&S, if BTC starts dropping right now. Other words speaking - context is bullish, we consider long entry, but watching for proper levels. Of course you could follow your own alternative strategy. Upside nearest target is the same - ATH.
COINBASE:BTCUSDLong
by Sive-Morten
Price has changed but the plan is the same 60.5-61.3KMorning folks, Not many things to talk about. BTC slightly stepped out from our plan, shown direct upside action to 65K resistance area. But it changes nothing - we have the same trading plan and wait for moderate pullback, supposedly with H&S shape. Now we change the potential entry level from 59-60K up to 60.5-61.3K... Let's keep watching. The role of 65-66K remains the same. Upside breakout will mean the road to the ATH and its challenge later in the month.
COINBASE:BTCUSDLong
by Sive-Morten
Under 60K BTC has bearish contextMorning guys, So, our idea with the upside bounce has worked perfect. Now price stands at strong resistance of 60K area. Until it stands below this level we suggest that bearish context remains. To start thinking about changing of the sentiment and consider long positions we need to see BTC somewhere around 64K and breaking through 60K strong resistance level. Today probably we could wait until CPI numbers will be released, but in general 60K resistance is rather strong, so here we could consider short entry again with moving stops to breakeven as soon as possible
COINBASE:BTCUSDShort
by Sive-Morten
Watching for 60K to Sell againMorning folks, So, BTC has dropped slightly more, as we've suggested but daily oversold hasn't let it to touch strong weekly 50-52K area that we've mentioned. Despite that overall context remains bearish, we prefer to wait for some rally to sell into. BTC now near weekly K-support, just has completed daily OP downside target and at daily oversold. It would be nice if we get bounce to 60K area. But price action might be different. Either in a way of AB-CD, as it was last time. Or, it could try to flirt with lows and form downside butterfly. For taking a new short position this doesn't matter. But if you plan to take intraday long positions - this could be the challenge. We suggest that direct upside AB-CD is more probable, because of completed downside OP target and daily oversold. Anyway, our plan for now as follows - wait for a bounce, supposedly to 60K, then try sell again.
COINBASE:BTCUSDLong
by Sive-Morten
5ADR - Average Range of Last 5 CandlesticksAverage Daily Range (ADR) Indicator for the Last 5 Days This script calculates the Average Daily Range (ADR) for the last 5 trading days. It helps traders to understand the average movement in pips, providing insights into potential price movements. How to Use: Set Chart to Daily Timeframe : Ensure your chart is set to the daily timeframe. Hover Over Previous Day : To see the ADR for today, hover your mouse over the previous trading day. For example, if today is Tuesday, hover over Monday to see the ADR for Tuesday. Read ADR in Blue : The ADR will be displayed on the left side of the chart in blue color.
Pine Script® indicator
by Bufalodorato
50-52KMorning guys, So, our bearish entry with DiNapoli B&B "Sell" last time has worked perfect. And, as we've suspected, this trade has not stopped at just minimal target but has become the starting point of new big swing down. Obviously H&S on daily chart is failing, and it means that we will get drop under 55K. Next strong support stands around 50-52K area - weekly K-support area, oversold level and YPR1. Also do not forget that we have DRPO "Sell" on weekly chart that works perfectly and its common target stands around ~45K area. Now it is too early to speak about it, but 50-52K is quite in time. Obviously we do not consider any new longs by far. If you have missed last entry, you could watch for the same B&B "Sell" setup on 1H chart, if price will show upside bounce and re-test, say, previous lows. This also might be the chance to step in. But be aware of coming NFP report:
BITFINEX:BTCUSDShort
by Sive-Morten
Intraday bearish setup is readyMorning everybody, So, upside AB-CD bounce is done accurately. Now, as we said - those who would like to sell and try to make a bet on daily H&S failure has got nice setup. It calls as DiNapoli B&B "Sell" pattern. Upside AB-CD target is completed accurately at K-resistance area. Also you could recognize here minor upside butterfly, that also is done. Minimum downside target will be around 60-60.4K, which is 3K/coin which seems not bad for intraday setup. Besides, if bears will be right and H&S indeed will fail - trade has great potential down to 50K. Bulls who are still thinking about long entry should wait when B&B will be over. Supposedly it is possible to watch the same 60-60.4K area but avoid entry if we get strong downside impulse. For the bulls invalidation point is the same - bottom of the right arm on daily chart.
COINBASE:BTCUSDShort
by Sive-Morten
Huge waterfall coming this week for Gold be ready !!GOLD may retest 2318 area and complete an inverted head and shoulders, and then head up to resistance level which lines up perfectly on trendline resistance AND lines up perfectly at the 61.8% Fibonacci level, this is a very interesting level for these 3 lining up this trendline has been valid for months and very strong trendline resistance that has been tested multiple times. I suspect GOLD will plummet down to 2300-2280 by the end of this week, probably during London session as from my personal experience I have seen this happen multiple times and have taken this opportunity to profit off this pattern moreover the DXY has been making impulses to the upside and healthy retracements to continue with another impulse this week if the trend continues, keeping on eye on news to support this bias and watching these levels on particular the 2340-2350 area
OANDA:XAUUSDShort
by halabirobin
1
63.5-64K for short entryMorning guys, In recent updates we've said a lot about overall situation and big picture with daily reverse H&S that is ready to fail, and probably will fail. Today we could focus on particular trading setup that is based on recent market drop. This is DiNapoli B&B "Sell" trade, a.k.a "Momentum" trade. The background is simple - strong downside momentum on daily chart that should reverse any 1st pullback. Thus, we could use it to sell into. By looking at 1H chart, it seems that 63.50-64K might be suitable for this purpose. Let's keep watching.
COINBASE:BTCUSDShort
by Sive-Morten
1
60K is a final checkMorning guys, Today BTC hits 62.50$ - our downside XOP target on daily chart (see previous update), and 62.50-64.2K area was mentioned as the one where potential right arm of big reverse H&S pattern should be formed. Nominally, this pattern is still valid, but today I show you performance on 1H chart that clearly shows problems for bulls. Normally, when market is ready to go with the bullish context - it shows very logical action, completing downside targets, forming bullish reversal in predefined place. Now take a look - as H&S as 3-Drive patterns have failed. This is bad sign for bullish context. This is the reason why we do not consider any long positions again, and prefer to watch for 60K support area. Because this is last chance for the bulls. Downside breakout will open the road to 50-52K area. Once 60K area will be touched - watch intraday charts. Market has to form bullish reversal pattern if bulls still control situation. I set this idea as "neutral", because to qualify it as bearish we need 60K downside breakout. At the same time I can't call it as bullish because of reasons specified above.
COINBASE:BTCUSD
by Sive-Morten
64-64.5K areaMorning folks, Recent Fed meeting results have made impact on short-term BTC performance as well. Although our major bullish context based on daily reverse H&S pattern remains valid, BTC could try to move slightly lower. So, the right shoulder on daily chart will be more harmonic to the left one. In general, until BTC stands above 61K - H&S pattern will remain valid. Meantime, on 4H chart we've got bearish engulfing pattern that has a target around 64-64.5K area. We will se how it works and then return back to idea of long entry with major daily bullish pattern. Today I market setup as "bearish" because it relates to intraday action.
COINBASE:BTCUSDShort
by Sive-Morten
1
SasanSeifi 💁‍♂ Daily Analysis with Key Support Zones🔻 Hey there, Let's take a look at the daily timeframe of BINANCE:FILUSDT . As you can see, the price has been on a downtrend since the $11 zone. Currently, after some minor fluctuations, it has been rejected from the 200 EMA and is trading around $5.50. The price is more likely to move downwards. If it consolidates below $5.35, we can expect a further correction toward the SELL SIDE LIQUIDITY and the $4 demand zone. Key support levels are $4 and $3.50. There is a higher probability of a positive reaction from the $4 demand zone. In case of a correction, we need to see how the price reacts. The potential trend is also highlighted in the chart above. Additionally, if the $4 zone breaks down, the $3.50 correction target can be considered. Remember, this is just my personal analysis, not financial advice. Do your own research and make informed decisions. Happy trading!✌😎 Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌ if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
Short
by SasanSeifi
SasanSeifi 💁‍♂ Daily Price Analysis (ADA)Hi there!✌ As can be seen on the daily timeframe, the price has been on a downtrend from the 0.80 cent range. Following the breakdown of the 0.45 low, the price has experienced positive volatility within the liquidity range. Subsequently, after reacting to the 200 EMA range, it has once again faced correction due to the failure to establish above the 0.50 cent range and the EMA. Further correction to the 0.38 cent demand zone and the 0.30 cent zone can be considered. The probable trend is also indicated in the figure above. After ranging and positive fluctuations, we are expected to see a further correction to the demand zone and the BULLISH BB. Then, we can expect a ranging trend and a positive reaction from the demand zone. In case of positive fluctuations, to better understand the continuation of the price movement, it should be observed how the price will react to the important 0.50 cent range to better understand the continuation of the price movement. The 0.50 cent range is a significant resistance level. In addition, Expect ranging with potential for further correction followed by a bounce off the demand zone. The key resistance is 0.50 cents. A breakout above 0.50 cents and the 200 EMA could signal growth to 0.55/0.60 cents. Please note that this is not financial advice and should not be taken as such. Always research and consult with a financial advisor before making investment decisions. Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌ if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
by SasanSeifi
EU D Buy Idea 5/18/24Overall price is still bearish on the monthly and weekly, EU appears to be making a run to go bullish for a bit. Price has currently broken the Daily High from 4/8/24 BUT is bumping against a bearish weekly trendline. The Daily has made a nice impulse and is more than likely finishing up a correction to go into a bullish continuation. Price is a good 88 pips from the last daily high. So I'd look for price to final TP around 1.11050. If I had been trading EU last week, based on my confirmations, I'd currently already be in buys, so that leads me to believe that there is still some more bullish movement to be had in the upcoming week. However, if the correction continues bearish I'd look for price to run to somewhere around 1.08643 with a final TP around. 1.08591. **This is for educational purposes only and this is not financial advice because I am not a financial advisor.**
Long
by cecedidit