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BITSBTC Bitstar chance to double the stakeVery energetic movement followed by consolidation with clearly visible double bottom at 000001550(orange ticks). Pair is consolidating within the range between 1550 and 3500 for last two weeks. I believe that level created by double bottom created solid support. It is small chance that pair will bounce from that level creating triple bottom which could move pair up and eventually break consolidation range. I'm curious to see what will happen when pair will make contact with 200 ema. By quick look n the chart it is visible that when pair is ascending very fast and then going down slowly. I assume that the very low volume make this good opportunity to double a stake when enter with current market price. It is also possible that pair will go lower from current level which will make another opportunity to enter the market with much higher risk/reward ratio. I would enter right now with SL and TP level set up on chart. It is not a big risk and the probable profit look promising,
BLong
by Krystiannwk
1
ETCBTC probable move higher to reach .004500 of even 0.0050000This is detailed analyse for my previous idea on Weekly chart : As we can see on Daily chart pair found support at .00200000 which hold pair for some time with probability that this support will give a boost to the pair to move higher. I set SL and TP for long position. I suspected that 200 ema will come with help if the pair will decide to consolidate for a while and then give it a nice push. I would risk small part of the portfolio for this one. It is probable that mentioned support won't be breached and the pair will move towards TP area but there is still chance that it will move lover just to move back on track.
Long
by Krystiannwk
ETCBTC chance that the pair will beat last week highs I'm observing this pair for some time. There is interesting double bottom formation visible on Daily chart. Important here is fact that it bounced from psychological 0.0010000 level which is very powerful indicator for trend reversal. Double bottoms are very rarely perfect but this one is very close to be one. What I would expect from the current chart is that the last high will be most likely will be beaten but another high. There is doji candle on weekly which means that the market uncertainty and pair can't decide where to go. It is false signal to go short and most of the time when you will open short position with this kind of formation your SL should be triggered. I'm pretty sure that the highest high from the last week will be overthrown. I see here 3 scenarios: 1.Pair will move above highest high from last week and then move back down 2.Pair will go beyond 0.0035000 level and move higher to reach 0.0035000 or even higher 3.Pair will consolidate for some period of time then move down and will consolidate there and eventually move lower to retest .001000 mark for third time.
Long
by Krystiannwk
Gridcoin vs Bitcoin rebound plus interesting breakout formationWe can clearly see here that the support has been created around round number 500. It created false double bottom buy signal in December. Area between mid of February and beginning of March shows interesting formation when pair tried to break the support with negative results. There is second important level which is created by consolidated three GAP's on daily chart. I marked this area with first rectangle. Yesterday big bullish candle went thru 200 ema and all three GAP's. I would suggest to set SL just below 0.00000500(It is rare that the pair will go thru strong support just to bounce back again). TP is set around highest highs from September. I think that 0.00002000 level is reasonable as well.
GLong
by Krystiannwk
2
Cryptoccurency Factom/Bitcoin long pos. after perfect reboundThis fairly new market has its own psychology of trading. I found that many times crypto crowd follows simple technical formations. We can see here very nice double bottom with Doji candle, plus square number which it seems that is respected by crypto community. 0.0020000 was respected twice within the 3 months. I assume that this pair will go up and it will soon reach last highest high which is around 0.00620000. I would also set up buy order around 0.0025000 which could give quite nice risk reward ratio.
FLong
by Krystiannwk
1
2618 on EURNZDHey guys, this evening i'd want to share a setup that i will closely look at in the next few hours and probably on Monday opening. This is a 2618 trade that's forming on EURNZD. If you're not familiar with this kind of formation, it basically consists in selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline. Essentially it should be a conservative way to trade double top/bottom after the confirmation of the reversal (break of structure). This analysis also aligns pretty well with higher timeframe analysis: on the daily price has created a new structure low (bearish trend confirmation) and it's now back retesting a 4hr structure level (black line) that could stop the price's rally and starts the new downtrend movement. This is what i look for when trading: additional higher timeframe confirmation! It's very important to have bigger perspective. That's why i'd split my position in two parts in order to follow the bigger trend in case i'm right. The first position should be taken at the retest of the new low. Stops above the highest high. If you have any question, feel free to comment below. Otherwise, see you in the next chart! Have a good weekend!
Short
by Roker1