Get started

ELON

BTC Breakout from Falling Wedge - Off to the Races? Or Not?The question on everyone's mind, are we off to the races? Industry analysts believe that we need to retain bullish sentiment through to options closing Friday to stay in the game on this bull cycle. I believe we'll continue ranging between 55 and 57k until then. We could even retest 53k, but ~55k is forming up to be a short term support zone, falling below that 53k, then 50k would be our most likely targets to retest support. Recap: Early this morning around 2am EST we saw bears pushing price down to ~53k for a retest of the bottom of the supertrend. An extremely well timed tweet by Elon resulted in a swift, strong rejection at ~53k and reversal, forming into a bullish pennant. The "Elon" reversal also liquidated a significant number of shorts, and left bears hesitant to resume activity through the morning, opening the path to 56k. Binance alone saw something like 13 million liquidations in the flash of one large green candle. Licking their wounds, the bears rallied forces again just after lunch EST to contest the impending breakout from the pennant. Bears were succesful in forcing two wicks below the bottom trendline, and both times the bulls pushed back into the pennant, and eventually with a breakout north. This puts today's scorecard at 2-0 Bulls. Going into tonight and tomorrow we still need to monitor sentiment of the market, while more indicators are pointing to a pattern like we saw on the last two bullish impulses in the super trend, and a strong breakout may be in the works, the bears will put up at least one more good fight along the way. As long as we remain above 53k, I believe we'll see a strong impulse up to retest 60k soon. Things to observe: Monitor the usual like VFI, RSI, chart patterns, look for the next move. Most important is to observe how the expiring options impact the market. By Friday we should have a good idea which way we'll be moving. Until then a breakout from the 55-57k range seems unlikely. Best of luck traders.
COINBASE:BTCUSD
by 1BigPapi
1
Bitcoin yellowAbove the yellow line is Mount Everest. After that, the moon, maybe mars, or just new mexico? Who knows. Lets decipher some Elon. Musk says "Money is just data that allows us to avoid the inconvenience of barter." And recently the South African car salesperson/entrepreneur stated it is "less dumb than holding cash" He did send a car to space so he knows what he is talking about, he is the ultimate troller... Therefore, if cash is money and holding bitcoin is less dumb than holding money, then what does that make Bitcoin? Better data than money...? What about Ethereum?
BITSTAMP:BTCUSDLong
by Verum0
2
Key levels for Position/Swing traders on TSLAToday we will share all the key levels on TSLA; this post may be relevant for position / Swing Traders. What are the most relevant technical structures we can see? 1)Ascending Trendline (white line) 2) Support / Resistance Zone (orange rectangle) 3) Descending trendline (yellow line) With those 3 levels, we can create a map of possible scenarios of price movement. Now, let's understand what is the Non trading area and the trading area. Non-Trading Area: This is a zone in which we don't have confirmation of a new bullish movement. This is defined by the yellow descending trendline. IF the price stays below the yellow line we should assume that the current trend still bearish and we should not develop long setups. Why? Because trendlines are great at telling us the most external edges of a Bearish or bullish situation. Trading Area: The trading area for Position / Swing Traders is above the yellow line. If we have clear confirmation of the broken trendline like Daily candlestick above it / or the one we use the most, price breaking "B" (883.50). We can consider that a new possible bullish trend has started, the targets, in that case, would be 1054 and 1253 (we are using Fibo extensions to define that. (if you want to learn how to use fibo extensions check the link to related ideas, you will find it there + other TSLA posts)) REMEMBER: Every trade you take is another trader, which means that you can either have a stop loss or a take profit despite having all the certainty in the world. Pay attention to the next 100 trades and find your edge on Statistic. Thanks for reading!
NASDAQ:TSLA
by ThinkingAntsOk
3
Bitcoin : $60,000 approaches, learn about the Bull PennantHello, just a really brief update for Bitcoin. If you saw my last idea it is progressing well and the Falling Wedge Pattern is still playing out to the upside. (Click below for a brief overview of why I think Fundamentally bitcoin is still bullish): This can also be considered a ugly version of a Bull Pennant Pattern which I will explain below. Bull Pennants are a little different to Bull Flags but are almost identical in appearance and are traded basically the same. The most important factor in identifying any flag or pennant pattern is the clear "staff" or "flagpole"; there should be a straight run upwards leading up to the pattern or it is not a valid pattern. After the straight run upward price starts to Zig Zag between two converging trendlines forming a tight wedge (it can be slanted, or even symmetrical) until the price "breaks out" above the upper trendline signifying a possible continuation in trend upwards. Bull Flags and Bull Pennants have the highest success rate out of any pattern and work extremely well when paired with long term support & resistance areas. Enter at the invalidation point of the pattern (A), second entry on the bullish retest (B). Pennants that are “tighter” have higher success rates, look for patterns forming on top of long term resistances (not below) to increase probability of success also. Pattern height is measured and added to swing low before breakout for possible target. Sometimes large size traders can generate liquidity by faking out under the pattern support as we can see on this current example with ADA. The liqudity generated by triggering stop losses underneath the pattern can fill large position sizes for whales and is a good indicator for a long once the price confirms support back inside the pennant . Some key points: • PRICE MUST MOVE STRAIGHT UP BEFOREHAND • MIN 2 Touches each side on almost symmetrical looking wedge • HIGH SUCCESS RATE • BEST ENTRY IS often when price fakes out under support (Marked at A) • Pattern height is measured and added to swing low before breakout for possible target So while the price continues to move in this Pattern structure is is a great sign for Bitcoin to continue to increase in value here, It looks like as long as we stay above $40,000 region this has a good chance of playing out. Dont forget to hit like & leave your comments if you like the idea thank you traders!
Long
by Worth_The_Ri5k
ridethepig | TSLA on the Fairway📌 ridethepig | TSLA on the Fairway An illustration of the consequences when surrendering the support and when your opponent grabs the break. It's trailing time for those who have been following the surrender. In order for us to execute more on the position I will want to see a final break of the temp lows, in order to somehow catch one final momentum play. Sellers are clearly on the fairway and this swing has been a very large one. An express train! With simultaneous plays down to structural support -40% from the highs, breaking through is an extreme. I expect 330 will be the final destination here unless buyers manage to somehow bring in more resources. A quick leg down before finding a base? Smells like it. Thanks as usual for keeping the feedback coming 👍 or 👎
NASDAQ:TSLAShort
by ridethepig
25
BTC Forecast 60k Sustained by Week 1/2 March 2021Referencing YTD channel volatility and direction, forecast wave 5 sustaining ~60k USD by end of Week 1/early Week 2 March. Accounting for the Elon factor here, the Tesla news triggered an overbought divergence north of channel within range of historical volatility (~13%). Correction this past week within historical volatility below channel (~13%) to resume current uptrend around 19 degrees, placing potential 60k sustained in 1st or 2nd week of March, not accounting for more Elon tweets. I am an amateur (less than a year dabbling in TA) so feedback is very, very welcome. Thanks.
COINBASE:BTCUSDLong
by 1BigPapi
BTCUSDT | Why it felt and what to expect next?Past two days were tensed for cryptocurrency market players: Bulls having losses or keep funds locked in trades Bears had several liquidations due to sudden bounces Who favors from such price action? Literally both sides! Bulls could close long positions at Widening falling wedge near with $54 815 level and accumulate strong assets with a 30% discount once Triple bottom line was formed Bears could open short positions at Widening falling wedge confirmation point and close it at the support Why did Bitcoin price fall? The main and essential reason is continuous and uncorrected upward price action. Market players expected correction since entering $44 000 - $48 000 zone however price was pushed directly to $58 000. Thus everyone was aware of drop and here came the trigger Elon Musk's claim "...Cryptocurrencies are overvalued". Exchanges' Bitcoin reserves have been increased sharply and then massive sell off began. Is the correction finished? Strong positive fundamental news were received today Square increased Bitcoin holdings with a new $170 million investment. Around 3 319 BTC were purchased at an average price of $51 236 per coin MicroStrategy purchased approximately 19 452 BTC at an average price of $52 765 per coin It can be concluded Bitcoin price action is now stabilized and have a solid support formed by institutional investors What should be expected next? Technical and Fundamental analyses reveal the most probable scenario: Price action should retrace to $45 179 level where horizontal parallel range (Blue parallel channel) will be formed. Bitcoin should not break it below due to Square and MicroStrategy purchases made today. The price action will accumulate power and consolidate to retest upper edge of the range around $51 496. There is a high probability of subsequent breakthrough and testing of $62 000 area Stay tuned and subscribe to our profile to receive updates to this idea on time. Please support us with your likes it is important for the team :) DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
27
BTC / USD Potential fractal formation. Important price areaThe chart shows a fractal that can potentially form on this trading pair. I must say right away that fractals in trading are a rather conventional method of analysis, but sometimes they are applicable. This is in addition to the usual technical analysis, nothing more. Helps to logically anticipate potential price movement formation before it occurs long before major market participants. But you need to understand that without other methods of analysis, it is not effective at work. You need to understand that after the price of 56000 and then 57318 was shown, this local correction at the moment was most likely unavoidable. The main thing is that everything ends with this squeeze, or at least the downward movement of the price only in these numerical values, otherwise the domino effect may occur and after the reversal of the local trend we will see a real reversal of the secondary. Past trading idea for this trading pair. BTC/USD Top of the trend Triangle Soon the denouement Psychology +17.13% 56000$
COINBASE:BTCUSD
by SpartaBTC
19