BTC Fake Break Down or a New Downtrend in marketHello Traders,
Weekly close was more of a Downtrend Depletion with a Doji being formed on our charts. However, as we see it now, we are currently looking at a weekly opening which could end up creating quite a lot of Panic in our trading community. We have already gone below our last week's Low and the week just started.
Although we would want to believe that its just a Fake out, other technical Indicators like RSI, MACD, AWESOME OSCILLATORS might not support that theory.
As of this moment, we at ChainAssets.Capital see this as a possible Fake Breakdown, to overthrow the small Retail Investors. However, Trading has always been a game of probability, thus it is more safe to assume that it is not a fake breakdown but market is actually losing its value.
We would like to speak levels now. As per the current scenario, if we manage to stay above $35k, we might see some sort of Support from our Major TrendLine on Weekly (which is also a good support for our supposed isosceles triangle). However, if we see that our support at $35k gets broken, we might wanna start looking for Shorts from here on out, because in that case, we will starting a new Downtrend in which all our previous Horizontal and Diagonal Support levels will fail.
We estimate that if the market keeps on Dropping, we might see some rather bold Levels in Market all over again. $10k being a possible target of BTC, Alt Coins might face more consequences.
Though only one possible scenario suggests the probability, it is still a good chance. Although we will see some sort of support at our previous key levels like that of $29k, and $19k - $23k ranges, we aren't too sure about them being held when the whole of our Market will be panicking.
It is even possible for Market to stoop at the mentioned levels at a much faster rate than we expect.
Please use Stop Losses in all conditions, be it Futures or Spot. No one can really tell if the market is going to fall or not. However, it is safe to assume that it is going to even if your technicals say otherwise.
Positive Side:
although the first scenario has been negative of our general Idea on Market, there are three other scenarios in which Market might get support from here.
AS per price action, we simply reached an end for down wave and the evident marker for that is last week's Doji. If we manage to, somehow, get above the high of Last week's Doji, there are simply unlimited possibilities after that. But market has never been that easy to read, so still keep your Stops below Last Week's Doji's Low.
There's also a possibility of getting a support at $29k to $32k range as well, in which case, Market might give us a really good pullback till $35k to $39k range, but not beyond that since, it will be the beginning of a rather long Consolidation period. But hey, consolidation period isn't all that bad, you can still expect to play horizontal Support and Resistance to go Long and Short and still benefit from the market.
We were however, seriously hoping to achieve new highs in the coming months of June and July. But that's Crypto for you, it gets heavily affected by how the world experiences its events.
DISCLAIMER : we simply project our ideas in our public analysis, and this should not be treated as a trading Call. Our analysis is also not written in that sense. The only reason we share these ideas is to get other's suggestion on what they think and how we all can improvise using each other's inputs. For trading, use your own analysis and never depend on someone else's analysis!
Falling
rune great longbig liquidity zone we are in now you can see it goes back a couple weeks now. resistance turned into support. this looks like a gigantic falling wedge to me we just broke and are came back down to accumulate more. 4 hr chart i see a massvie cup and handle. low rsi and mac d finally turning white on the 1 day makes me believe we are in a re test liquidity grab stage before we moon. next couple days weeks should be massive upside in my opinion.
FTMUSDT wants to go higher?The price is testing the confluence zone on 1.4$ zone. as you can see on the upper chart, the price is testing the daily resistance after the breakout from the falling wedge
on the lower chart, on 4h Timeframe, the price is creating a rising wedge after the flip of 1.3$ resistance as I said in my previous analysis
How to approach?
the price needs to invalidate the rising wedge (usually is an inverse pattern) and retest the upper trendline as new support. If and only IF the price is going to confirm the flip, we can apply our rules to open a new long position. The next valid resistance is 1.6$ where the market has 0.618 Fibonacci level resistance
#HNT Retest Done!Helium after breaking the falling Wedge, now retest is done.
If price close above $23.00 expecting +100%
Send it to $45.50
LINAUSDT is creating a falling wedgeThe price is creating a falling wedge on the monthly area on 0.02$
After the breakout, the market got a rejection from the monthly area.
On 4h timeframe, the price is creating a channel below the Monthly resistance.
How to approach?
For a bull scenario, the price needs to get liquidity and it needs to create a clear breakout from the monthly and 4h structure above 0.24$
Otherwise, if the price is going to lose the 0.16$ and confirm the breakout, the next target is the 1.618 Fibonacci on 0.010$
According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
ROSEUSDT is going to create a falling wedge
The price had a huge bearish impulse, bounced on the weekly support on 0.3$ and had a new breakout.
The price retested the previous support as new resistance and the market went to test again the previous weekly support on 0.2$.
Connecting the lows and the highs, the price is creating a falling wedge exactly on the weekly support.
How to approach?
We are monitoring the price, we could see a double bottom on the weekly support. IF the price is going to have a breakout from the falling wedge and 4h resistance, and turn the previous resistance into new support, According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
OCEANUSDT is creating a falling WedgeThe price got rejections from the descending dynamic resistance on the daily timeframe and bounced on the weekly static and dynamic support on 0.4$
On the daily timeframe the price is creating a falling wedge on the weekly support and now the price is trying to have ha breakout from the upper trendline and static resistance on 0.52$
On the 4h timeframe, the price is creating a rising wedge inside the main structure. The rising wedge is a bearish pattern, but, if the price is going to create a false breakout, we could see a breakout from the daily resistance.
The setup is valid only after the daily breakout with retest and according with Plancton's rules
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
CELRUSDT is creating a falling wedgeThe price is creating a falling wedge on the daily timeframe. After an amazing bull run, the price is going to retest the start point around 0.041$
On 4h Timeframe, the price is testing the support around 0.47$.
How to approach?
We are monitoring the price, we could see a retest around 0.042-41$ on the previous daily support. If the price will get liquidity and will have the breakout from the dynamic daily resistance and 4h resistance, According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
GALAUSDT is testing the 0.786 Fibonacci levelThe price is testing the 0.786 Fibonacci level on the daily timeframe after a breakout from the falling wedge and a rejection from the daily resistance on 0.4$
On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$
How to approach?
IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy , we can set a nice order. The setup will be invalid above 0.3$
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
SHORT POSITION FOR ADAEverything is clear on the chart
xxx xxx -30% xxx xxx -52% xxx xxxx xxx xxxx xxxx xxx big -100%
xxx xxx -30% xxx xxx -52% xxx xxxx xxx xxxx xxxx xxx big -100%
xxx xxx -30% xxx xxx -52% xxx xxxx xxx xxxx xxxx xxx big -100%
xxx xxx -30% xxx xxx -52% xxx xxxx xxx xxxx xxxx xxx big -100%
xxx xxx -30% xxx xxx -52% xxx xxxx xxx xxxx xxxx xxx big -100%
xxx xxx -30% xxx xxx -52% xxx xxxx xxx xxxx xxxx xxx big -100%
EURNZD - Time to correct lower ?Hello Traders
Here is a new SELL Scenario, is time for EURNZD to correct lower?
Will EURNZD follow its seasonal pattern lower again this year ?
✅ EUR / NZD SELL @1.69250
TP1 @1.69050
TP2 @1.68800
TP3 @1.68600
SL @1.70100
JamdeJam will not accept any liability for loss or damage as a result of
reliance on the information contained within this channel including
IS ATOM LOOKING BULLISH?as another day ends atom refused to close a daily candle below the .618 level. Weve come back down from the bear flag on my last post and touched the bottom. so the question is are we in for a long here? a close above support on the .618 bullish divergence on the 2hr and 1hr rsi mac D is running into green and we are in a falling wedge pattern. i believe we are headed up to test that previous resistance once again. hopefully this time we can break the liquidity zone highlighted in purple and we are back on track.