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BTC Market Structure Changing - What to watch for Understanding price action and market structure is one of the most valuable concepts in terms of keeping your head straight in this market. Bitcoin recently printing a couple signs of changing market structure and I wanted to share because sometimes this stuff is almost too simple that people overlook it. The chart above is showing that after the enormous BTC drop in November, we started to print some higher highs and higher lows. In other terms, the 4hr chart was showing a bullish uptrend. This uptrend is shown by the orange line on the chart. All of this is great and wonderful, but this is where things start to change. About a week ago, BTC price action pushed through this uptrend and closed a strong bearish candle. This was our first sign that something in the structure/trend is changing. This is an important thing, so I'll repeat it; The price action breaking through the orange trend line DOES NOT mean the market is reversing but it's a great warning sign that it's time to pay attention and be cautious with trades. This price action continued to drop far enough that we have already printed a lower low, which is also marked on the chart. And yet again, this does not mean that the market is reversed and going down, but that it's time to pay close attention to the price action coming up. So the question is what's next? That is impossible to predict perfectly, but I'd like to share what is incredibly possible using similar market structure and ideas: If the market structure is actually changing like the warning signs have been saying, then it's fair to expect a lower high to be printed as the market moves in waves. The question is simply where to expect a lower high. It can occur anywhere, but what I have marked on the chart is what I would consider to be a highly likely area for a lower high. This would be retesting a level of strong resistance for BTC. This also overlaps nicely with the Fibonacci golden pocket retracement that BTC loves to follow. That's really all there is to it, just support and a couple Fibonacci levels. This may change as more data comes in the next couple weeks but this is on my radar right now. Happy trading! And keep an eye out for a lower high in the near future! Slight word of caution: Volume will likely be very low in the coming 2 weeks due to holidays so don't get caught up too much in the noisy data and price action that occurs between now and the new year
by Obscure_Trading
BEARISH Bitcoin Idea ( may not happen but....)Bitcoin Weekly chart The Vertical Red lines are Fib Time Zones and these ones are Bearish PA got Rejection off every one and the next one is on week of 2nd Jan which also intersects with the 4.618 Fib circle, As you can see, Previous 618's have also caused Rejection though PA may have descended before hitting the 3.618 End od Dec, Beginning of Jan has many charts pointing towards something happening but as we all know, predicting PA is often foolish I do have Bullish charts also but mostly from projections using Fractels..... Be ready to react is the only thing I will say Apart from Happy Christmas and a Merry New Year...I think BTC will recover in '23
BITSTAMP:BTCUSD
by Orriginal
1
Trading Idea for Ethereum💸In this idea, I'm going to share my own short-term trading plan on Ethereum . So this one is not an analysis it is an action plan with calculations. As you can see on the chart (1H time-frame), ETH has reached a PRZ (Potential Reversal Zone) around $1310. This is the high of the last bullish wave on our ascending trend (you can see the yellow trend-line to find my bullish trend). I came to this conclusion because of four reasons: 1. RSI bullish trend-line is broken downwards 2. There is a bearish divergence on MACD 3. The price has reached the level 1 Fibonacci Extension 4. The Red (sales) volumes are rising, and the Green (buys) volumes are decreasing So it is time for a correction now, to find to size of the correction I've used to Fibonacci retracements on the last bullish wave. The "green box" is our strongest support area on the Fibonacci. But also if I want to make my support area stronger I'll pick the area that my green box overlaps with the yellow bullish trendline. This will be the area for me to buy Ethereum if the price hit it, it is somewhere between $1210 - $1220. Here is the trading trick, this strong support area, is a good place for me to buy. But what will happen if things go wrong?!! Before anything else I'm going to plan to setup my stop-loss . There are two good stop-losses here: 1. Somewhere around $1190, it is our lower low from our previous low 2. When the yellow bullish trend-line is broken So we have our stop-loss, it's time to calculate our take profit area . With drawing two Fibonacci extensions, from our two last bullish waves to our green box (if the price hit that area as the end of the correction), we'll get two level 1 Fibonacci Extension. First one around $1368 and second one around $1446. My tow take profit points will be below these levels. The good thing about this trading idea is its great R/R ration that you can see on the chart! I will definitely update this trading idea as the market proceed, so make sure you follow my account and stay tuned. As always feel free to ask any question you have about my idea and share your own thoughts on the comment section. And if you like this idea make sure you hit the BOOST button.
COINBASE:ETHUSD
by ArshiaZojaji
18
NQ1!: CONFIRMED CHANNELS & OVERSUPPLY MOVE ON 12/13Note: In the chart above I have provided a clear distinction between what I would consider to be CONFIRMED CHANNELS that have been held for a considerable amount of time. Points: 1. With todays trading day on 12/13 we moved back into oversupply territory where price action failed to hold. 2. Oversupply move confirms a rejection of the 200 EMA Line. 3. Key Level for NQ1! to hold is 11,600 or we can be set to see new lows and lower highs. 4. Current channel we are resting on will collapse if NQ1! decides to break past 10,600 this would be the equivalent of $SPY breaking 350.
CME_MINI:NQ1!Short
by DGSTBROKERACC
Bullish GOLD / 6M FIB AnalysisThe Graph presents DXY/GOLD = Inverse price of gold. Given Fibonacci levels have acted as great resistance/support lines, therefore might predict the next bull-run for gold. DXY/Gold is retesting its 2.414 Fibonacci resistance to break down; which is a bullish signal for gold. Fundamentally (refer to main graph) - Gold is a great inflation hedge - Currently massively undervalued - Falling returns or/and outlook on substitute investmentment instruments Technically (these 2 graphs) - Previous retests from Fib levels have shown a 100% accuracy on the 6M timeframe (breakouts represented by red circules and current by the blue circule) - The diagonal blue resistance line (which rejected 100% breakouts) has been reached with a significant rebound below the fib level. - The MA is extremely close to both the FIB and blue line resistance levels. Fun fact: These fib levels have been determined through price history between the years 1969-1976. 1M timeframe: 1W timeframe: Thanks for your time!
TVC:DXYLong
by Sanzhar_m
MATIC / USDT 1D chart Targets and StoplossHello everyone, let's look at the 1D MATIC to USDT chart. As you can see, the price is moving above the local downtrend line. Let's start by setting goals for the near future that we can take into account: T1 = $0.9158 T2 = $0.9619 T3 = $1.0112 T4 = $1.0759 and T5 = $1.1616 Now let's move on to the stop loss in case the market goes down further: SL1 = $0.8502 SL2 = $0.7964 SL3 = $0.7643 SL4 = $0.7393 and SL5 = $0.6911 Looking at the CHOP indicator, we see that there is still a lot of energy for the next move on the 1D interval, while the MACD indicator indicates a downtrend.
M
by cryptodailyuk
6
DXY about to rekt crypto? Strong downwards move after US CPI came out - which looks good and people are now expecting FED to pivot into more dovish stance. But is that really going to happen in short term? We had a very nasty downfall in crypto markets yesterday with the whole FTX fiasco and the fear in markets is expected after that. Plus Solana unlocking 5M worth of SOL which was another catalyst for this big bang. Now we had a very nice recovery, which might be interpreted as break-down and honestly DXY could continue to dump. Still, there is a good chance that market-makers are not done with scooping up liquidity from very bullish long traders. There is still money on the table to be taken. Let's see if this plays out according to my plan.
TVC:DXY
by AtomicStag2000
Seems the fib trip may be over for now....For the past year, The markets have been on the slide, as you've noticed. From the fib extension POV, here is how the last year has broken down, why it rallied to where to did, then reversed to only go down further. This chart suggests that the full fib extension has played out and should put in a decent bear market rally. Given the time of year it is, one might even call it a Santa Claus rally. It even goes as far as suggesting 300+ by Thanksgiving. These fibs work very well and most of the time. However, in 2008 they bounced for a moment and blew right thru. That's when the large plunges began taking place. We're not in 2008, and the folks who run the markets run on greed and fear. I think the big dupe will be on the release of CPI creating a squeeze to push price back up into the 300's. It's too early to tell, but this is how inverted head and shoulders patterns are created... and it quite possibly could be "the head" being created right now, resulting in a bullish trend into the end of December.... possibly back to 350. This is what I am watching for myself.
NASDAQ:QQQLong
by prd001