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Daily Charts

PatienceMorning folks, So, our 1st daily H&S target is completed perfectly, in a way of downside AB-CD, with CD leg shape in a way of butterfly pattern. The question is - should be we buy already? I would say - no. First is, because daily H&S also has 1.618 ultimate target around 24K that agrees with major daily support area of 23.8-25K. But not this moment is a major reason. Take a look at overall performance - what bullish you could see in current action? Nothing. We do not have any signs of thrust, we do not have any clear bullish reversal patterns. Overall news and fundamental background hardly could be called as "friendly" for BTC rally. That's why we suggest to wait a bit and see what will happen. This is just for example, as one of the possible scenarios - if we get this H&S, then we could consider long entry around 27K. If nothing bullish will be formed - we need to prepare for another downside leg. And, to be honest, this is our preferable scenario for now.
COINBASE:BTCUSD
by Sive-Morten
BTC Trend analysis with Donchian and Macaron Tools / SHORT setupInitial idea: Price seems like it tried to break above 30k twice, and failed, this makes me feel that it needs to grab more buyers from lower prices and come up stronger. 1st chart: Donchian channel is already broken since 21 Apr at a price of 27983, this sets up the price action wise break needed to go down. Macaron tools are indicators I made to better visualize the trend (Thanks to @Madrid for the heatmap idea.). They are very similar to moving average crosses, but they are not. For the last 4 days it was trying to get full red, and for the last 2, it is. This means both the trend and the price action is already bearish. If you don't want to wait for the 2nd charts setup (basically confirmation), the way to go now is shorting my dear bitcoin. Entry: Current Price (27700) Take Profit: 24640 / because that's the latest resistance area Stop Loss: 30130 / because it's just a bit above the donchian trend Trailing Stop Loss: Donchian(11, 10) this simply means the highest high of the last 10 bars 2nd chart: Donchian channel here has a much longer length and thus breaking it is harder, also it has never been broken since the up movement from 19k, highlights the heaviness of it. When it breaks it'll probably be caused by a dump that started before (probably in the 1st setup), thus if it continues to go down we should just ride the wave. Entry: 26840 / because donchian is at 26919 so if the price continues to go down after hitting that and also breaks 26850, it'll continue (probably, hopefully) Take Profit: 24640 and (23400/23250) / if you want to be fully safe just close your position at the first tp. If you want to take multiple ones go with the 1st and the 3rd but use trailing stop. You can customize your position however you like. Stop Loss: 30130 / if it breaks above here the trend will be questionable (it may just hit and come down too, but less probable) so we'll just close the trade Trailing Stop Loss: Same with the 1st setup, the highest high of the last 10 bars Thanks to @KivancOzbilgic for the donchian channel indicator. Since this is my first post here, please give me any feedback you may have. Thanks for reading, happy trading! PS: I will not be taking the trade because of the CPI announcement tomorrow.
Short
by TheParmak
26KMorning folks, We do not need to make drastic shifts to our trading plan as BTC is going accurate with it. The core is daily H&S pattern with 26K destination point. Next week was some risk around the top of right arm and it was seemed that BTC could break it, but it couldn't, and H&S starts to work. Now, market is coming to 27K neckline area. We do not consider any long positions. If everything will be OK - H&S major target of 26K should be reached. In more extended perspective, 25-26K has vital meaning. Downside breakout could open road to 12K and will be negative for bullish context. Conversely, ability to hold above it, will keep chances on 36-38K target intact
COINBASE:BTCUSDShort
by Sive-Morten
3
EURCAD I It will retest near neckline of double topWelcome back! Let me know your thoughts in the comments! ** EURCAD 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
38
EURCAD I Previous idea fulfilled and NEXT MOVE!Welcome back! Let me know your thoughts in the comments! ** EURCAD 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!
Short
by BKTradingAcademy
8
"222" SellMorning folks, Today we need just 1H chart to make an update, because BTC shows humble reaction on Fed statement, at least compares to gold market. Despite minor bounce - the daily H&S is still valid and we could talk about its failure only if BTC returns back into 30-31K range, at least. For now - the only Fed's fruit here is "222" Sell pattern. If you believe that H&S will fail, you could consider long entry around 28.5-28.6K area. Alternatively, bears could use this "222" for downside continuation. Maybe NFP will bring more clarity tomorrow. In general, current Fed policy is "loose-loose" for BTC. Higher rates will destroy stock and BTC market, while rate cut with 5+% inflation level promise also nothing good in longer-term perspective, as inflation will raise more, especially on a background of record budget deficit, and I'm not talking about debt ceil saga.
COINBASE:BTCUSD
by Sive-Morten
2
25.5K Part IIMorning folks, BTC accurately follows to our daily H&S scenario. Now it seems that the top of right arm is in place already. If you're looking for bearish position taking but missed to do this around 29.5K area, discussed last time - here you could watch for 3/8 retracement on 1H chart, somewhere to 28.9-29K area. The top around 29.5K also is an indicator of H&S validity. Action above it could mean that H&S is failing and BTC is ready for immediate upside continuation. Until it stands valid, we're going with our downside H&S scenario to 25-25.5K target
COINBASE:BTCUSDShort
by Sive-Morten
Potential BTC Short Between around 30.3k and 30.8k are some fresh resistance levels that are yet to be hit. If price comes into this box with the criteria frp, listed I will take a short risking 1%-2% of my entire account. *1hr money flow (Red/green oscillator waves) coming down and crossing the 0 line *1hr momentum creating a divergence (Blue oscillator waves) *1hr vwap (Yellow line on oscillator) curving down to ward the 0 line. *12min and down momentum divergence *12min and down moneyflow coming down Tp 1 - Value area high at 28870 Tp 2 - point of control at 28000 Tp 3 - Value area low at 26900 Leave the rest to ride
Short
by scottmcscran
25.5KMorning folks, BTC very accurately follows to our H&S shape. So, the right arm's top that we've discussed on Monday is completed now. For the bears - this is the moment of decision making on entry. Additionally, H&S is great directional indicator. Its failure (which we think as less probable scenario), suggests immediate upside continuation and 31K level breakout. While its traditional performance should lead BTC back to 25.5K area at least - H&S classic target and strong daily K-support area.
COINBASE:BTCUSDShort
by Sive-Morten
USDCAD I Key resistance broken. Expect pullback and more growth!Welcome 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!
Short
by BKTradingAcademy
13
EURJPY I Potential buy from support to target 147.05Welcome back! Let me know your thoughts in the comments! ** EURJPY 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
10
26.5 - 28.5 - 24.5Morning folks, BTC accurately follows to our H&S plan. Our intraday target around 26.5-27K which is the neckline, is mostly done. Next step that we're watching is a forming of the right arm around 28-28.5K and then major extension to 24-25K area - strong daily support. Depending on your view you could choose corresponding positions. Intraday bulls could consider intraday bullish patterns(reverse H&S, butterflies etc) around 26-26.5K area with potential target around 28-28.5K, while bears should wait for this latter level for next short entry chance.
COINBASE:BTCUSD
by Sive-Morten
5
Daily and Weekly Rejection. 200 Billion Calls and market flat.Daily and Weekly Rejection. 200 Billion Calls of worth and market flat. The US bought 200 billion worth of options is 200 billion of stocks to sell to get the market flat. Lower highs and weekly and daily rejections on Friday. see the market getting its recession on Monday, Delta in options across the board was at yearly highs. DAX rallied with EU meeting. But didn't make a new high. Created a lower high and volume didn't make a new high on Friday. Many facts to see the market as topped out. Options data with market analysis. See the market crash by about 50-70%. Because of the deflation cycle coming, we need. The dollar needs to come back up and inflation needs to hit negative numbers to have expansion room for the future. Best Regards Robin,
CME_MINI:NQ1!Short
by PivotX