Mid-term
Bitcoin possible scenarios for the mid termDescription and reason are mentioned in the chart.
This explanation has been made by looking at the past and technical analysis.
The probability of a downtrend is stronger.
But the possibility of an uptrend has also been drawn because the fundamentals have already affected the price.
Mid-term to long-term opportunityOn this trade a confluence of four signals is present for me to take advantage of this mid to long-term opportunity:
1) Hidden weekly bullish divergence on both RSI & MACD
2) Past weekly support (looking left)
3) Weekly Bullish Engulfing candle
4) Touch at long-term uptrend line
Some people would say the entry is premature as the market short-term is in a downtrend, but this is my way. Until we get a break of the weekly engulfing candle, we will add on pullbacks. And if we get the break, then we will wait for another weekly candlestick formation. It is a probability game and the area at which the market is positioned right now, long is the higher probability direction. Happy trading week !
Crucial wedge on BTC/USDTThis wedge could prove instrumental to the mid-term future of Bitcoin.
A break upwards could result in a recovery of bitcoin, and potentially a market we haven't seen before, where bitcoin is close to it's ATH (within a factor of 2) without crashing, or surging. If the price breaks through the lower trendline, it could cause a continuation of the crash, resulting in a 1-2 year bear market similar to 2018-2019.
ADA still is in uptrend channelAs we can see, even though the market was bearish yesterday! But Cardano is on it's way. In this chart, we see that ada has pulled back to the support line and is still in the uptrend channel, and as long as the channel and the support line are not broken, we can expect higher prices for cardano in the short or mid term.
EURUSD still in the mid-term downward channel.EURUSD still in the mid-term downward channel.
As shown in the figure, the EURUSD fell from a high of 1.2349 on January 6 to a low of 1.1704 on March 31, and rebounded sharply to around 1.2150 in April. The entire graph can form a "mid-term downtrend channel". The current price Around 1.20 integers.
The EURUSD price must rise above the April 29 high of 1.2150 in the short term for the April upward trend to continue.
Otherwise, the higher probability that the EURUSD will continue to trend downward in the "mid-term downward trend channel" in the future.
Update: May.6th 2021
Forecast validity: 5 - 15 Market Days.
OMG/BTC📢 Binance Spot Market
⚠️ Midterm
📌 Pair: #OMG/BTC
💰Buy: After crossing the yellow bar
🏹 Sell: 2088 — 2270 — 2480 — 2850 — 3060 — 3369 — 3880 — 4090
🚨Stop: If it reaches the red bar, the second step is purchased
✅ Capital (%): 5
Trading idea for DODOBUSDThis is a mid to long term trade. It seems DODO has broken its small downtrend. If it continues to break next resistance levels, DODO may give a decent profit chance in mid-long term. Do not forget to take profits and use stop loss.
dot bullish trend expectation! In Dot Chart, Candle reached to major channel mid-line, and we have to main resistance areas that I showed in the chart, so we can expect the future trend line to be like that I drew, the entry points should be in pullbacks for decrease risks that you can choose with yourself.
XRP Possible Trend for Midterm Positionin this scenario we have some conditions:
1- at first channel should not breakdown, and If it breaks, it may take a longer time to reach to our target or change the trend to downtrend.
2- If ripple succeeds the last court, we can expect that the price can reach it's Historical Price in earliest future and even go further!
Also In this scenario we have to pay special attention to the resistance lines that colored in orange. because they can change the uptrend to downtrend.