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weekly BTC chart insight, a possible scenario to consider I placed a wager that Bitcoin will not hit $70,000 before November ends, before placing the wager cos I haven't done so before, I had to look at my chart and understand what the price action looks like cos I am a pure price action trader. Considering the build up so far, a person can identify that we have seen quite a retest from 8th of March through 10th of May, before a sell off to the Key Support we have now, from this level we started identifying a HH and HL, if we can get another SUPPORT at $51917 then we have a new HH and HL, otherwise if we see a sell of below that price then it has invalidate the idea of a Bullish Move. However, I am looking at several scenario from looking at the chart, There is the possibility of a DOUBLE TOP forming if we see a BEARISH ENGULFING closing at the end of the week. Looking at the indicator session, we will see where price has alternated from oversold to overbought area touching respectively 0% and 100%, also, both the price action on the chart with TREND-LINE acting as RESISTANCE and on the indicator with the TREND-LINE acting as a RESISTANCE indicates that we are looking at the possibility of seeing a sell off. The key take away here is that if the current weekly candle closes as BEARISH we could a sell off.
BITSTAMP:BTCUSD
by MII1502
3
Master's way to use Fibonacci ToolHello traders and dear followers! I have not posted any idea since the start of this month but today I am back with a powerful strategy that will help your trading easy and the strategy is also very easy to apply. It works exactly as you have ever imagined/wished that God should give you. 1. A strategy that can predict the Target perfectly. 2. At the same time strategy should predict the next drop. 3. Plus strategy should also guide you through every up and down before reaching your target. LOL We will only use the Fibonacci retracement tool and you can select Fibonacci tool from the Tool column on your left and it's inside the third option. To make it your favorite toll hit the star button. In this strategy, you just have to find a chain of bullish candles. A chain should be of at least 3 or more continuous bullish candles and after that look for the first bearish candle and that's the first step. Now look at the chart it's W1 btcusdt candlestick chart. If we see from 14-dec-2020 there is a set of 4 continuous bullish candles. Start the Fibonacci toll from the bottom of the bullish candle and put '0.618' Fibonacci level at the point where the first bearish candle is closed. Now Fibonacci '0' level is your target. We can see BTC hit the Target and then drop. It's simple as that. Let's move to the second example The second example is the ethusdt D1 chart. In this chart, there are 2 examples. The first one has 4 continuous bullish candles and the second one has a set of 5 continuous bullish candles. I started the Fibonacci Retracement tool from the start of bullish candles then set my Fibonacci '0.618' level at the point where the first bearish candle is closed and '0' is the Target. We can see ETH has already achieved both targets. In the first case of ETH it dropped after completing the target and the current one is still live means it is ready to drop soon. You can use this tool in any timeframe. At the beginning I gave 3 points and above you saw it complete target which was my first point and all dropped well after completing the target which was my second point and for the third point set these Fibonacci pairs the same way in any pair in 4hr or above timeframe than after that change the timeframe to 15/30/1hr timeframe and you will be amze to see how perfectly Fibonacci levels are respected. If you want more just hit the like button and follow to stay connected.
Education
by Aadil1000x
14
BTC Dominance IdeaThis is a triple bottom idea. This can happen, it does not mean that it will. In this simulation chart, we show BTC Dominance topping out at next trending resistance, RSI is currently over bought and rising ,so we somewhat have justice to this idea. Next BTC.D would settle down some and then retesting resistance before being rejected and sent down for a third and final bottom. (This would indicate alts fly one last time before BTC Dominance takes over for the final blow). Follow for more fun crypto ideas, enjoy.
CRYPTOCAP:BTC.D
by UnknownUnicorn28488832
3
Back above the 1 day 50ma & the mid channel trendline!We have just followed up a 1 day chart higher low with a higher high which is also a good recipe for a bullish trend reversal. Need to see a follow up additional higher low from here now to really set it in stone but it’s very possible we go all the way up to test the 1 day 200ma (in blue) before that correction down to the next higher low. The target for finally breaking above the mid channel trendline (in yellow) is the top of the channel to test the descending channel’s green top trendline. Wouldn’t surprise me if we retesting the 1 day 200ma at the same point we test the top trendline of the channel around 44k then get rejected back down for a higher low (maybe to retest the middle channel yellow trendline one last time as solidified support before finally breaking out of the entire channel). Of course there’s no guarantee of that retest it could just decide to go parabolic and blast past the channel’s top trendline upon the first retest. However odds favor an initial rejection if that trendline is double reinforced resistance with the 1 day 200ma (in blue) overlapping it. Always a chance we could see a slight correction on the way up to that top trendline first though and achieve the follow up higher low before even testing it, in which case we could correct as low as the mid channel yellow trendline imo. All in all, having this turn around occur right after amazon finally admits it’s exploring crypto for payments which we all knew they were going to eventually do, is enough of a bullish excuse to send it flying so the correction could very easily be over. I’m leaning bullish in the slightly more macro short term.Stillw ant to see that follow up higher low first though.
COINBASE:BTCUSDLong
by DrDovetail
REACCUMULATION ON NETFLIX!Hello my beauties. It seems that Netflix has entered and completed a reaccumulation phase. This is normally deduced from the higher highs the price creates. Its tendency to rise throughout the range without providing a SOW (sign of weakness) indicates strong interest in buying the dips. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
NASDAQ:NFLXLong
by TrickleDownFX
Market Structure | Impulse/CorrectionsMarket Structure | Impulse & Corrections 🎡😈 What is Market Structure? Market structure is a trend-following technique that traders use to read and track how the price moves. Bullish moves, bearish moves, and ranges in between Market structure is also known as price action at times. As a result, we call it market structure since that is how the entire market moves. How to identify Market Structure? Wait for a swing high/low to be broken. (candle-stick body must close above swing high/low) What is Market Structure telling us? in a Up-trend scenario, higher-lows will provide in a Down-trend scenario, high-highs will provide What is impulse/corrections? The natural behavior of the Market. What is correction? When price is in a ranging or sideways market. What is a impulse? The point when price impulsively breaks out of the correction How to use Impulse/Corrections? to identify which phase we are in, and what to expect next. Summary: Market structure is the guidance to a trade setup, failing to identify market structure will lead to many unnecessary losses and an overall bad analysis. Every trade consist of few things such as.. The first step to a trade is analysis which requires market structure in order to do so. Very simple rules to follow.. BUY LOW - SELL HIGH 🎡
OANDA:XAUUSDEducation
by FlyDownX
20
AMD: Is it a good time to buy?Hello my friends! Let’s how AMD is doing today! First, in the 1h chart, it is in a bull trend again, as we have higher highs/lows. The first pivot point triggered was at $ 109.77, and we have a second one that has yet to be triggered at $ 111.70. We are above the 21 ema again, and everything looks bullish from here. Let’s look for more clues in the daily chart: Yes, AMD just did a pullback to the area between the 38.2 and 50% Fibonacci’s Retracements and it is reacting nicely. I would prefer to see it at the 21 ema, and there’s still a good chance that we’ll see this happening. If we drop below the 38.2% retracement level again, I see a sideways correction on AMD, something like AAPL is doing. A sideways correction is the healthiest movement on AMD, in my view, but if it triggers the pivot point in the 1h chart again, and if it keeps above the 21 ema, probably we’ll see a retest of the ATH, and then we’ll see how to proceed. During the pullback seen in past few days, we see that the volume is decreasing, indicating that this is just a healthy pullback, not necessarily a sell-off. That’s one of the reasons why I don’t see AMD reversing the trend in any level. In the worst-case scenario, I see an annoying congestion. In the perfect world, we would retest the 61.8% retracement, but I’m not counting on that. Personally, I would only buy it if we get closer to the 21 ema. AMD is a great stock, but I see better opportunities around. Maybe if I had a portfolio of 50 stocks, I would buy AMD right now, but that’s not the case. If you liked this analysis, remember to follow me to keep in touch with my daily studies. Have a good weekend.
NASDAQ:AMD
by Nathan_The_Finance_Hydra
10