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Bitcoin hitting the Tops of TopsSo, here we are, a few days before the halving event and Bitcoin's topping out on the high line! We can see BTC has hit this level at least 3 times previously since it's top in late 2017. Is this the time when it finally breaks through? If we can push through this level the path of least resistance suggests a Bull run that might make 2017 look like a blip on the Bitcoin radar! A push down from this level might make the price hit as low as $7000 - but this is the line that (once broken) will determine when the biggest Bull run in BTC history starts! We're excited, and ready. Are You? Good Luck & Happy Trading! -theCrypster
KRAKEN:BTCUSDLong
by theCrypster
Ethereum - The Journey to $240In this idea I will explain how you can leverage psychological support and resistance levels for trading ETH/USD. This will help you earn more money while trading, and gives you more understanding about the markets. I have been talking about this for quite a while now, and every time it shows that it works again and again. We can see that ETH is currently experiencing a strong linear upwards trend. Through the ascending parallel channel you can see we are currently more likely to increase in price every day than we are to decrease. This gives us a bullish bias that can help us position ourselves for a nice long trade. I suggest to wait with the buy order until the price goes lower towards the strong level of $200, then get ready for a trade to reach levels near $240. I will split this idea in multiple aspects. First of all, I will go into ETH/USD and explain the most important levels on the chart based on the principals of human psychology. Then, I will explain why I believe the cryptocurrency markets have a much stronger tendency to behave according to these principles than any other markets. Last, I will explain how you can benefit from these concepts. -- What are these psychological levels you are talking about? -- Look at how BEAUTIFUL all the numbers are on my chart. They are all incredibly round numbers, which match perfectly to the levels of support and resistance . The levels that I identified are: $290 ( resistance level 3) $240 ( resistance level 2) $200 ( resistance level 1) $175 ( support level 1) $150 ( support level 2) $125 ( support level 3) $90 ( support level 4) Computer scripts don't come up with these round numbers, humans do. You can see human trading behavior at work here, along with human psychology. This is exactly where humans would put their limit orders, or where they will put price alarms. Let's compare the different kind of support and resistance lines you can draw. First, there are the most common ones based on past price behavior. A local high will be extend on the chart to indicate that this has been a point where price has historically bounced. This has medium predictive power. Secondly, there are psychological levels without any price action. Simply looking at a chart and seeing ETH is about to hit $150 should make you conscious about having psychological resistance. You can add these lines to your chart. Thirdly, there is confluence between psychological and price based support or resistance. Those are the ones I charted here for you. These have incredible predictive power. Keep an eye on them. They are important. A great way to confirm these level is by zooming out and going back in time. I tried to show it on the chart here, but it would simply get too cluttered if I show you multiple timeframes. If you take these levels, and you zoom out, you see that the same levels are important over and over again. These levels can perfectly predict highs and lows throughout months, even years. This is why you should always add these on your chart! It works 100x better for USD pairs than for BTC pairs. So don't forget to look at your USD pairs too when you are trading. -- Why do cryptocurrency markets have a strong tendency to have these human levels -- It's simple: liquidity. The big banks with their big algorithms have the task to take one billion, and turn it into two billion. The entire marketcap of Bitcoin is only 125 billion, the trading volume for BTC USDT is only around $500M on a given day at the largest exchanges. It's simply not lucrative. The only thing you can do in the current crypto markets, is take your one thousand dollars, and try to turn it into two thousand. This scales a bit further on the larger market caps such as BTC and ETH, sure, but for a maxium you can make try to turn one million into two million. That's pretty much it. The conclusion of all of this is that the big algorithmic traders don't even want to be here, they couldn't care less. This is a field for traders who play with crypto as their hobby, people with some spare time on their hands. Perhaps.... you! The reader. And me, yours truly. There are normal people trading on the cryptocurrency markets. This is what causes the price to have these decimal-perfect support and resistance zones. And this is why you'd want to put so much attention into these areas while trading cryptocurrency. -- So, How Do I Beat Other Human Traders? -- Think carefully about where you put your limit orders. If the resistance is at 9200, don't put your limit order at 9201 right above a huge resistance. Be smart, and put it at 9199 or even a little bit lower. This reduces your profits only slightly, while greatly increasing the odds that your limit price will be hit. This also works for buy orders, never put those on round price levels. Instead, look for non-round numbers slightly disadvantageous to the profit, but very positive for your hitrate. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
COINBASE:ETHUSDLong
by Trading-Guru
21
USDCAD. The price will rise, but on one condition...Hello dear subscribers! The price of the American dollar rose sharply in just 2 months. The price has acquired the bullish flag pattern, if the price reaches 1.41000, then this is a buy signal. If this does not happen, then you do not need to enter into a deal and you should not risk it. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.
Long
by UnknownUnicorn6402893
2
XRP Sudden Massive Volatility Increase [Quick Updates]Hey all, here’s another entry on my tradingview series called 'Quick Updates'. The price is really close to the support now, which gives the best risk-reward for trades using support and resistance. If the price does break through the support in the end, the loss is minimized. If the price follows our idea, we maximize the profits. This is a great moment to enter XRP! --- What is The Quick Update Series All About? --- I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. www.tradingview.com Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Recent success stories
Long
by Trading-Guru
10
USD/JPY Bilateral Triangle Pattern!Good Day :) Hope everybody is having a great trading week so far (That's if you've been following my analysis) wink* Technical Analysis: USD/JPY Bias: Neutral - On the 1Hour timeframe price action has created a descending triangle pattern. We do not have a clear bias at the moment, We will wait for price action to give us an indication by a break of either the resistance zone (Red Zone) or the support zone (Yellow Zone). Once price action breaks one of these technical zones we then look for an entry in that direction of the breakout. Please don't forget to smash that like button & share if you've benefited in any way from this post. Trade safe & have a great trading week :)
by Yunus_V
EURGBP. Will the price break through the key level?Hello ladies and gentlemen. The price of the Euro fell from a resistance level to a key level in just 2 weeks. After that, the price stabilized and there were no more jumps. The point is that you need to adhere to the moment when the price comes closer to the key level, if it breaks this level, then you can buy at 0.88500. if this does not happen, then you should not perform any operations. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.
Long
by UnknownUnicorn6402893
1
USDJPY. The price will fall, but on one condition...Hello dear traders. The price of this currency pair will continue to fall. Attention, the key level is now at around 107.400. If the price breaks through this level, then this is a sell signal, if this does not happen, then it is better not to make any transactions. Target at 107,000, then the price will not fall! If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.
Short
by UnknownUnicorn6402893
Chart Of The Day: USD/JPYGood Day :) Hope everybody is having a great trading week so far (That's if you've been following my analysis) wink* Technical Analysis: USD/JPY Bias: Neutral - On the 1Hour timeframe price action has created a Descending Triangle pattern. We do not have a clear bias at the moment, We will wait for price action to give us an indication by a break of either the descending trendline (Solid Line) or the Support zone (Yellow). Once price action breaks one of these technical zones we then look for an entry in that direction of the breakout. Please don't forget to leave your thoughts and comments and if you benefited in any way from this post please like & share. Trade safe & have a great trading week :)
by Yunus_V