Verizon: Weak in a Strong MarketThe S&P 500 just had its biggest weekly rally in a year, but Verizon Communications didn’t participate. Are the bears moving in?
The first pattern on today’s chart is the trio of drops following the last three quarterly reports. Those may reflect weakening sentiment towards the telecom’s fundamentals.
Second, VZ peaked below $45.55 in late September. That was a long-term low from May 2022, which may suggest old support has become new resistance.
Next, VZ has chopped around its 2023 high of $42.58 but is now below it. That could be a sign of resistance taking hold.
Fourth, last week’s slide below the 200-day simple moving average could mark an end to its longer-term uptrend.
Finally, MACD is falling.
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Oscillators
Boba Network (BOBA) — Get Ready for Explosive Wave 3 (Easy 28X)I'm not going to make many posts about altcoins and I'm only posting some of those that I'm holding personally and have the best structure in my opinion.
This is another great opportunity similar to my previous posts.
During a wave 2 correction price action did a retracement to the 0.786 level and is now moving sideways inside a support zone.
RSI is stable and moving sideways on support as well.
Nicely looking structure on the BOBA/BTC chart, sleeping on support:
Look at these wild green weekly candles in the first wave: +70%, +45%, +98%.
And +5000% in one week in 2021.
Judging from the size of wave 1, wave 3 can easily reach previous all time high and even exceed it.
Conservative target: $6.00 (2700%).
USD/CAD 4H Bearish Double Top with RSI Divergence Trade SetupUSD/CAD 4-hour chart is forming a bearish double top pattern near a resistance zone, signaling a potential reversal. The RSI shows bearish divergence, with the price making higher highs while RSI trends lower, indicating weakening upward momentum. This setup suggests that a bearish move is likely if the price breaks below the key support level at 1.38138, which is the designated sell entry level in the plan. The stop loss is set above the double top, at 1.39624, to protect against a breakout above resistance.
For targets, Take Profit Level 1 is set at 1.36665, while Take Profit Level 2 is positioned at 1.35443, aligning with lower support levels that could serve as points for a potential reversal or pause in the downtrend. The plan projects the double top breakdown using a red line labeled "Projection of DT," indicating the estimated move downward if the pattern completes. This trade strategy utilizes confluence between price action, RSI divergence, and a clear breakdown structure to establish a high-probability short trade setup.
Where are you going dear crypto? (long term)Bitcoin finished 5 weekly wave in end of 2021 and we are in more complex forth monthly wave. So where we are?
TOTAL3 also finished 5th wave and alt coins are in corrective move (ABC) - look at elliott wave oscillator and squeeze indicator
BTC.D looks like accumulation structure. Note: I am not sure if we saw spring yet.
ratio TOTAL3/BTC looks like triple top (ratio 1 looks like strong resistence) and rising wedge with decreasing volume.
LONG: Mahindra & Mahindra on the Rise: Targeting New Highs!🔍 Technical Analysis Report: NSE:M_M
Current Overview: 📈 NSE:M_M have shown a strong reversal from its recent low of ₹2,665.55. This recovery is significant as it has crossed the 0.382 Fibonacci retracement level, with the highest reference point being the level 1 Fibonacci at ₹3,214.95.
Key Observations:
Volume Analysis: Over the past 3-5 trading days, the stock has displayed consistent positive volume, indicating sustainable upward movement. 📊🔼
Critical Resistance: Since mid-June, the stock has been approaching a key resistance level. It briefly breached the 0.5 Fibonacci level yesterday but closed near the 0.382 Fibonacci level. 🚧
Price Movement: Today, the stock opened around the 0.382 Fibonacci level at ₹2,827.10 and is inching upwards. 📈
Technical Indicators:
MACD Analysis: The current MACD (Moving Average Convergence Divergence) shows an impending buying crossover. If market conditions stay favorable, we anticipate the MACD histogram turning green tomorrow, reinforcing the bullish trend. 🔄🟢
Target Levels:
🎯 First Target: ₹2,942.15
🎯 Second Target: ₹3,005.10
🚀 Extended Target (if resistance is broken): Around ₹3,100.00
Risk Management:
Primary Stop-Loss: ₹2,800.00 to protect against downside risk. ⚠️
Extended Stop-Loss: ₹2,720.85 for those accommodating broader market volatility. 📉
Conclusion: 🟢 If M&M opens in the green tomorrow, this will confirm the buying trend, potentially reaching the target levels mentioned above. However, cautious trading is advised, particularly around the set stop-loss thresholds, to manage inherent market risks effectively. ⚖️
#Hashtags: #MahindraAndMahindra #StockAnalysis #TechnicalAnalysis #FibonacciLevels #MACD #TradingInsights #StockMarketIndia #BullishTrend #InvestmentStrategy #RiskManagement #FinogentSolutions
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Trading and investing involve significant risk, and you should conduct your own research or consult with a financial advisor before making any investment decisions.
Bearish signals piling up for crude oil pricesA lack of direct stimulus measures in China likely contributed to the rough end for crude oil last week, with prices not only breaking minor uptrend support but also closing below the 50-day moving average.
It’s the latter that’s got me eyeing a potential short setup. The ratio of how often the price has traded through this level versus how often the break has stuck is notable over recent months. The uptrend in RSI (14) has been trashed, and MACD is on the verge of confirming a bearish signal, skewing risks lower.
However, I’d like to see a break and hold below $69.74 first, the low hit on US election night. The price bounced strongly from there, so it looms as potentially key level for near-term directional risks.
If that level breaks, shorts could be initiated with a stop above either the low or the 50-day moving average. Targets include $66.72 (October 29 low), with $66.33 and $65.27 next.
If the price reverses above the 50-day moving average and closes there, the bearish bias is negated, opening up potential bullish setups.
Good luck!
DS
ALTS PUSH ? - After weekend this will decideAfter the weekend, a double break of the trendline and RSI will decide if we have the long awaited FINAL PUSH for the Altcoins.
This time, unlike 2018 and 2021 I think it will be selective. Not all alts are going to fly or even go up, so we will have to choose wisely.
Some of the ones I follow individually with the confirmation of this chart are #LINK, #ONDO, #XRP and #VELA.
They all depend on this chart and what happens with #BTC.
Let's follow it closely!
CRYPTOCAP:BTC CRYPTOCAP:XRP BIST:LINK LSE:ONDO LSE:VELA
Important volume profile section: 0.5941
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-------------------------------------
(ADAUSDT.P 1M chart)
Important volume profile section is formed in the 0.4346-0.5941 section.
Accordingly, the key is whether it can receive support and rise near 0.5941.
-
(1W chart)
Currently, the BW(100) point is formed at the 0.6818 point, so the point to watch is whether it can rise above 0.6818.
To do this, we need to see if it can be supported near 0.5941
1st: 0.6206
2nd: 0.6818
and rise to the 1st and 2nd ranges above.
Since the HA-HIgh indicator and the BW(100) indicator indicate the high point range, if it breaks through this indicator upward and receives support, it is highly likely to renew the high point.
If it fails to rise, it may fall until it meets the HA-Low indicator or the BW(0) indicator, so we need to think about a countermeasure for this.
-
(1D chart)
If it is supported near 0.6818 and rises, you should set the target point at around 0.9242 and think about a countermeasure for it.
If it falls below 0.5941, you need to check if the BW(100) line is created.
If the BW(100) line is created, it is likely to lead to an additional decline, so you need to think about a countermeasure for it.
For now, if it falls below 0.5693, I think there could be a sharp decline, so you need to prepare a countermeasure for it.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that a full-scale uptrend will begin when it rises above 29K.
The next expected range to touch is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points that are likely to receive resistance in the future.
We need to check if these points can be broken upward.
We need to check the movement when this range is touched because it is thought that a new trend can be created in the overshooting range.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
-----------------
Next Volatility Period: Around November 16 (November 15-17)
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-------------------------------------
(BTCUSDT 1W chart)
The target range is around 2.618 (87814.27) on the left and 1.618 (89050.0) on the right.
If it rises to this range, it is expected to determine the trend again.
To do so, the key is whether it can break through the 1st and 2nd ranges upward.
-
StochRSI EMA has not touched the 100 point so far.
Therefore, as the StochRSI EMA approaches the 100 point, the downward pressure becomes stronger, so caution is required when trading.
-
(1D chart)
This volatility period is until November 11th.
Therefore, the point of interest is whether it can receive support near 80K after passing this volatility period.
-
The BW indicator is currently maintained at the 100 point.
This also means that the upward strength is strong.
However, if the BW indicator shows a downward trend from the 100 point, BTC is likely to show a downward trend.
Whether this downward trend will create a pull back pattern or the start of a downward trend can be predicted depending on whether there is support near 75571.99.
I will tell you more details when it falls near 75571.99.
----------------------------------------------
Since the prices of most coins (tokens) have risen significantly, it is quite burdensome to buy them.
Therefore, in order to trade, you have no choice but to use time frame charts below the 1D chart.
However, you should draw support and resistance points on the 1M, 1W, and 1D charts and check the movement near those points.
In fact, coins (tokens) that are renewing their ATH have no support and resistance points, making it very difficult to trade them.
Therefore, for coins (tokens) that are renewing their ATH, you should purchase them in installments when the candles on the 1D chart are falling candles, lowering the average purchase price.
Buying when the candles on the 1D chart are falling candles means that you should perform a breakout trade when the time frame chart below the 1D chart goes down and then rises.
That is, the method is to buy when the price falls below the BW(100) point of 79844.01 and then rises above 79844.01 again.
It is important to buy when the price starts to rise, but it is also important to buy when the price falls below the important support and resistance points and then rises again when the price has already risen.
I hope this answers the question of why I am the only one who is recording a loss when everyone else is making a profit.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that the full-scale uptrend will start when it rises above 29K.
The section expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
-----------------
Bitcoin Cash Long Setup Setting / Two sides of the MarketBINANCE:BCHUSDT
COINBASE:BCHUSD
📈Which side you pick?
Bull or Bear
SL1 ---> Low-risk status: 3x-4x Leverage
SL2 ---> Mid-risk status: 5x-8x Leverage
(If there is just one SL on the chart, I suggest, low risk status)
👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate.
➡️Entry Area:
Yellow zone
⚡️TP:
379
385.4
391.9
399.3
🔴SL:
358.8
🧐The Alternate scenario:
If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
Is a 70% crash to 20k for Bitcoin going to print ??This is a 3 week chart. Each candle print takes 3 weeks. This is not a forecast for tomorrow or the day after. This is months in the making.
On this timeframe months pass until targets are realised. Regardless, there are some important signals now printing that require attention.
When:
1) Stochastic RSI was above 80 AND then crosses down 50 (red arrows)
AND
2) RSI 50 level confirms resistance once a breakout has printed (black circles) as it is now, you must watch for a confirmation of resistance.
A and B had confirmed resistance in 2018 and 2019. 80% and 70% corrections followed. Point C in early 2021 was a false breakout only confirming in late 2021. A 75% correction followed.
Look left. This chart is now either repeating years 2018 / 2019 or 2021.
There are some important takeaways from all of this.
1) Whether it is a repeat of 2018 or 2019 or 2021, the bull run is over inside the next 6 months. There are far too many calls for higher highs into 2025 and beyond. That is not going to happen.
2) This is not a forecast for something that is going to happen right away.
3) The market top is not in yet. True. Market tops arrive with Euphoria not fear.
4) When this RSI resistance confirms, there will be no long opportunities in the market until 2027 at the earliest.
Ww
Palantir, expecting retracementPalantir uptrend move from June 2024 so far has been incredible. But I think enough is enough!
Palantir broke out of its "cup and handle" pattern in mid June and already hit its target at about 50$ per share.
The stock price is currently standing at 58$ per share, which is surpassing its cup and handle target and even 4.76 Fibbonaci extension level.
I believe we will see a retracement to around 50$ per share soon. We also see that the when RSI indicator is at these elevated levels, there is usually a retracement or sideways price action.
Things to watch out for when buying altcoins
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-------------------------------------
(BTC.D 1M chart)
If BTC dominance falls below 55.01 and remains or shows a downward trend, funds are expected to start moving toward altcoins.
This movement of funds will eventually lead to an upward trend in altcoins.
(USDT.D 1M chart)
I think the coin market is on an upward trend because USDT dominance fell below 4.97.
Therefore, the point to watch is whether USDT dominance is maintained below 4.97 or shows a downward trend.
-------------------------------------------
(BTCUSDT 1D chart)
If the flow of funds moves to altcoins, the movement of BTC and the movement of altcoins are likely to move differently.
Therefore, unless BTC passes an important support and resistance point, the movement of BTC is likely to have a large impact on altcoins.
Therefore, if BTC dominance falls below 55.01, I think it is better to trade altcoins than BTC.
Since the rise in BTC price is likely to lead to the rise of altcoins, what we need to pay close attention to is the support and resistance points when BTC falls.
Based on the current price position, the most important support and resistance point is 71280.01.
Before that, since the 72344.74 point is important on the 1D chart, the 71280.01-72344.74 section can be seen as an important support and resistance section.
-
(1h chart)
However, since there is a possibility of volatility when BTC touches the 5EMA of the 1D chart, the movement at this time may affect altcoins.
Also, there is a possibility of volatility when touching the M-Signal indicator of the 1D, 1W, and 1M charts, so caution is required when trading.
Currently, the 5EMA of the 1D chart is passing around 74K, so it is expected to touch the 5EMA of the 1D chart soon.
-------------------------------------------
When coins (tokens) rise, most of them show a stepwise upward trend while touching HA-High or BW (100).
Even if the stepwise upward trend continues, you need to be careful when it falls below the MS-Signal (M-Signal on 1D, 1W, 1M charts) indicator.
The reason is that there is a possibility of a downward trend.
Therefore, you should always think about how to respond when it falls below the MS-Signal indicator.
-
The basic chart for trading is the 1D chart.
Therefore, you must check the movement of the 1D chart before starting a trade.
Therefore, you can mark the support and resistance points on the 1M, 1W, and 1D charts and check the movement at those support and resistance points on your trading time frame chart.
(1h chart)
Let's take a 1h chart as an example.
When the BW(100) line is created on the 1h chart, the price will fall.
However, you can see how much it will fall, but usually the decline will stop when it touches the HA-High, 5EMA on the 1D chart, and MS-Signal (M-Signal on the 1D, 1W, 1M charts) indicators.
At this time, since there is a high possibility that a trend will be formed due to the volatility that occurs, caution is required when this movement is seen.
Therefore, you can trade by buying when the price falls and breaks through the indicators listed above.
In most cases, buying when it breaks through the BW(100) upward is the last chance to ride the trend.
-
When it moves sideways near the HA-HIgh indicator, a box section is formed.
When it breaks out of the box section formed in this way, it can be seen as the time when the trend is formed.
Therefore, it is necessary to consider whether to trade within the box section of the HA-High indicator.
-
As long as the price of BTC does not fall below the important support and resistance points, you can make a profit by buying and waiting when the price of the altcoin falls.
Therefore, it is recommended not to suffer by buying altcoins that have risen too much.
Since altcoins that have risen too much can lead to a larger rise, it is recommended to buy when these altcoins make a downward candle on the 1D chart.
However, when buying, do not forget to check whether there is support near the support and resistance points drawn on the 1M, 1W, and 1D charts.
If you bought at a point where there is no support and resistance point drawn on the 1M, 1W, and 1D Tsuta, a short and quick response may be required.
If you buy like this, you should think about whether to sell in installments when BW(100) is generated on the 1h chart (the time frame chart you mainly see and trade) and buy some more when it goes down and then goes up.
-
If BW(0) or HA-Low indicators are generated and show support, it is time to buy.
You should also not forget this.
Usually, when BW(0) is generated, it is likely that it is already in an upward state.
Therefore, you need to think about how to buy when it goes up with a split transaction and place a buy order at the point where the BW(0) point is generated.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that a full-scale uptrend will start when it goes up by more than 29K.
The section that is expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
-----------------
The point of interest is whether it can escape the box section
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-------------------------------------
(USDT.D 1M chart)
I think that in order for the coin market to start a bull market, it must fall below 4.97 and be maintained or show a downward trend.
-
(BTC.D 1M chart)
At this time, in order for the altcoin bull market to start, I think that BTC dominance must fall below 55.01 and be maintained or show a downward trend.
If BTC dominance rises, it means that funds are concentrated towards BTC, so most altcoins are likely to gradually move sideways or show a downward trend.
----------------------------------------
(ETHUSDT 1D chart)
For that reason alone, the rise of ETH is significant.
Since all coins (tokens) other than BTC can be classified as altcoins, the rise of ETH, which ranks second in market cap after BTC, can be considered the prelude to the altcoin bull market.
Therefore, if it rises from the current box range (2273.58-2706.15), I think it is highly likely that the altcoin bull market will begin.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that the real uptrend will start after rising above 29K.
The section expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are the points where resistance is likely to be encountered in the future. We need to see if we can break through these points.
We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
-----------------
$SPY November 9, 2024AMEX:SPY November 9, 2024
60 Minutes.
Run-away gap in action.
Hence very strong uptrend.
Got weakened on Friday.
As we can see we had 2 lows. 568.44 and 567.89.
Oscillator divergence.
Hence if we draw extension now, we have first target 607 levels.
The consolidation I need is not happening.
Moving averages setting up nicely. In order.
9,21,50,100 and200 in that order.
It will be a good opportunity to buy around 588-592 levels. for the next uptrend.
As we can see in 60 minutes 580 is very strong support.
15 Minutes.
For the last rise 593.92 to 599.64 holding 596 is important.
If 596 is broken, we can probably see 592 as target.
I need a pull back for a buy.
Again, not a chart to short except for 3-4$ maximum. As of now.
in 15 minutes, big oscillator divergence.
BTC DOMINANCE After a Trump victory the markets are booming, a new BTC ATH pushed bitcoin dominance to new local highs of 60.6%. Now we've seen a decent retracement on the daily candle and BTC is still in price discovery. This indicates to me that we have an altcoin resurgence on our hands, returning confidence in crypto and the green light for crypto support by America is a very important to this current rally.
I could see BTC dominance dropping to 59.5% before any continuation (bottom of the trend channel) higher and that's not particularly from a BTC selloff although that is possible as a SFP, but more likely is just BTC staying where it is and altcoins making up some ground.
RSI has dropped out of the oversold zone with this daily candle, a cool off is eventually inevitable as long as price stays flat while RSI cools it's very bullish.
A lot of that altcoin move needs to be from ETH imo, with BTC @ ATH Ethereum is 72% away from ATH... A massive difference and one that should close up going into Q1 2025.
The standard process for a crypto bullmarket is:
BTC --> ETH --> LARGE CAPS
--> MID CAPS --> SMALL CAPS
So far we're clearly still in the BTC phase, keeping a close eye on the ETHBTC chart to see if the momentum shifts towards Ethereum but that doesn't seem likely until next year at the earliest.
Volatility Period: November 9-11
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-------------------------------------
(USDT 1D chart)
It's showing a big gap uptrend after a long time.
It seems that a lot of funds are flowing into the coin market.
(USDC 1D chart)
USDC is also showing a gap uptrend.
--------------------------------------
(BTCUSDT 1D chart)
It touched the left Fibonacci ratio 1.618 (76787.43) point.
And, the BW indicator has risen to the 100 point.
The BW indicator is an indicator that comprehensively evaluates the MACD, StochRSI, OBV, and ATR indicators.
Accordingly, if the BW(100) line is generated when the BW indicator falls from 100, it is highly likely to lead to a decline, so caution is required when trading.
If the decline begins, the key is whether it can be supported around 71280.01-72344.74.
The 71280.01 point is the BW(100) point of the 1M chart, so if it shows resistance near 71280.01, it is likely to show a large decline.
(For this discussion, please refer to the idea of "Never HODL at the highest point even if the profit is small.")
However, since the BW(100) point of the 1W chart is created at the 68393.48 point, if it falls below 68393.48, it is expected to lead to a sharp decline.
-
Since it is out of the upper part of the linear regression channel, it will soon enter the channel.
At this time, you should check whether the BW(100) line is created and think about a countermeasure for it.
Based on the above, I think it is a good idea to set the 72344.74 point as the stop loss point and re-select the start of trading based on the movement thereafter.
-
If it is supported and rises near the left Fibonacci ratio 1.618 (76787.43), the next target is near the right Fibonacci ratio 1.618 (89050.0).
However, before that, there is a possibility of resistance in the 79902.66-80999.68 range and near 83646.12, so you should also consider countermeasures for this.
-
If you are thinking of making a new trade, I think it would be good to start by confirming that the price has entered the linear regression channel and is supported at the support and resistance points.
If you want to trade right now, I recommend buying when the BW(100), HA-High indicators on the low time frame chart break upward and show support.
If the BW(0), HA-Low indicators are generated, buy when they show support.
The 5EMA on the 1D chart is passing around 74K.
Therefore, high volatility is expected to occur when touching the 5EMA on the 1D chart.
-
Have a nice time.
Thank you.
--------------------------------------------------
- Big picture
The real uptrend is expected to start after rising above 29K.
The area expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
-----------------
Air Products Pulls BackAir Products & Chemicals jumped last month. Now some traders may see opportunities in its recent pullback.
The first pattern on today’s chart is the bullish gap on October 7 amid reports that activist investor Mantle Ridge had taken a stake. The provider of industrial gases continued upward and made an all-time high two weeks later.
It then pulled back to hold roughly $302. That level was the peak on September 27 and near the low on October 7. Has old resistance become new support?
Next, prices are trying to stabilize at the 21-day exponential moving average. That may suggest its direction is still pointing higher.
Finally, stochastics have turned up from an oversold condition.
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CHAINLINK ready for the RUN! On the 3D chart, we have:
Breakout on the Trendline.
Breakout on the RSI.
Breakout on the SMA 200.
And a Golden Cross.
You can´t get more bullish signals if you want, but it doesn´t mean that in the short term we can´t take a correction.
If we get it,The Pullback is a BUY.
Fundamentally as I think we are in the year 1999 for Internet but for crypto now, BINANCE:LINKUSDT is one of those that has value. There are not many of them.
Selling is a must during this Bull MKT top.
Never HODL at the highest point even if the profit is small
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I used TradingView's INDEX chart to see the overall flow of BTC.
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Let's take a look at the section that showed a big movement.
(1M chart)
- 13888.32
- 57789.06
- 71320.68
The three points above are where the BW(100) line was created.
The fact that the BW(100) line was created means that a high point section has been formed, so there is a high possibility of a decline.
Therefore, based on the previous two experiences and looking at the current movement, we can see how important the 71320.68 point is as a support and resistance point.
Therefore, we should sell when it falls below 71320.68 in order not to HODL in the high range.
In the big picture, the stop loss point has been confirmed.
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(1W chart)
From the 1W chart, we can see that the 68376.06 point is an important stop loss point.
Therefore, we should decide to sell depending on whether there is support in the 68376.06-71320.68 range.
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If the BW(0) line is created after the price falls, then it is a strong buying period.
Therefore, we should check whether there is support and see if we can buy.
The reason is that after buying at the 37929.90 point, there is a possibility that it will fail to rise above the MS-Signal indicator and continue to decline.
Therefore, you should not forget that you need to cut your loss when it falls below 37929.90 after buying.
If you have a lot of cash left after distributing your investment weight well, you can buy more when the next BW(0) line is created to lower the average purchase price.
However, since it is a 1W chart, such a transaction is not easy, so I think it is better to buy again after cutting your loss.
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(1D chart)
Since BW(0) and BW(100) lines are often created on the 1D chart, it is recommended to use the BW(0) and BW(100) lines created at the current price position for trading.
As mentioned earlier or in the chart, you can see that the BW(100) and BW(0) lines appear after the arrows are created, and there is a decline and rise.
Therefore, since the arrows are created near the current price, you can see that the BW(100) line is likely to be created soon.
Therefore, if you are trying to make a new purchase now, I think it would be better to lower the investment ratio or not to make a transaction at all.
In any case, when the BW(100) line is created, you have to stop the transaction in progress or sell some of it.
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It is not much, but I think it can be a good reference for trading.
If you look at the StErr Line, HA-High, HA-Low, BW(0), and BW(50) indicators together to make this judgment, I think it will be a great help in your trading strategy.
Since these indicators can be used on all time frame charts, I think they can help you get an eye for selecting support and resistance points.
If you use too many indicators, you can trade incorrectly.
Therefore, you should think about how to use the indicators, which indicators to apply to which trading strategy, and think about how to use them accordingly.
I hope that this time, you will trade without HODLing at the high point.
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Have a good time.
Thank you.
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