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Parallelchannels

[07/29] Bitcoin ; Short-term Bitcoin DirectionBitcoin ; Short-term Bitcoin Direction Bitcoin recovered to 23k at once yesterday, and even after that, the buying trend did not die and recovered to 24k. 22.5k - 24.3k (high point) 18.9k - 20.7k (low point) A strong rise came from the bottom of the parallel channel, and when the Elliott wave is applied, it seems that the upward waves are impulse waves and the downward waves are adjustment waves. In particular, as the volume of transactions exploded in three waves within one wave, it is believed that the one wave was extended impulse upward until a huge upward transaction volume exceeding this transaction volume broke out. Currently, it is judged that there is a slight adjustment in the four-wave section, and it is analyzed that there is one more five-wave rise left. And when you connect the red circle peaks, you have a resistance line, which is the primary trend resistance line, and the secondary resistance line is the top of the peripheral channel! Personally, I think there's still a little more room for improvement, and as I said in yesterday's market, I'd like to recommend a long position-oriented response before renewing 24.2k.
Long
by BeastTrading_Sehyun
[07/27] Bitcoin; Consideration of Parallel ChannelBitcoin; Consideration of Parallel Channel Let's look at the point when a strong decline occurred and the decline calmed down a little after reaching 69k, the high point of the bitcoin market. In the rising parallel channel formed from 32k, three mountains (I refer to mountain-shaped charts created by repeatedly rising and falling stock prices) appeared, and the bottom line of the parallel channel was deviated downward, resulting in a strong decline. And as the decline calmed down, from 27k, a new upward parallel channel was formed, which also deviated downward from the bottom line of the parallel channel after three mountain charts appeared, resulting in a strong fall. And now, the rising parallel channel has been formed since the low point of 17.6k. The chart is flowing in a similar way to the pattern I mentioned earlier. If we put this fractional analysis into the present, the third peak of the mountain is now formed, and it's down to the bottom of the parallel channel. Assuming that the same pattern comes out, you can see it as a place where you can deviate from the bottom line of the parallel channel and make a big drop. So what's the target price for Bitcoin decline? The first parallel channel out-of-bottom drop was around 45% from "high point in parallel channel" to "start point of next parallel channel". Then, the parallel channel outfall fell by 45 percent from "high point in parallel channel" to "start point of next parallel channel." Through this, it can be inferred that Bitcoin can fall by 45% based on the current market price, and the value will be about 13.3k. It's one of the different analyses, so just refer to it! Thank you for reading this long analysis :)
by BeastTrading_Sehyun
4
Dow Jones: either up or downThe index is at the 21.4% Fibo retracement (March 23, 2020 retracement to the last top). In the inverse retracement from January 3, 2022 to June 13, 2022, the price seems to have corrected in the region of 38.2%. And it is in a bullish channel which in this context can be called a bearish flag. The Stochastic RSI is retesting a resistance for the third time. What to expect In a bullish scenario, it is necessary for the price to fall at most to halfway through the channel, and remain above the 21.4% major retracement. If it breaks the 38.2% inverse retracement, it will at least test the next 50% retracement. Now, if it stays in the lower half of the channel, there is a higher probability of going all the way to the 38.2% retracement.
DJ:DJI
by andre_007
TATAELXSI Looks good for positional trade.Aim for 5-8%. It can be easily achievable in 1-3 days. My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2. The reason for booking profit of only 5-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities. Take trade if all conditions meet at the end of the day 3:15-3:30 PM. If you have any questions or suggestions, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
NSE:TATAELXSILong
by Chartmaniac
$UKOIL - Multi-timeframe reviewHi guys! 👋🏻 🔔 Saudi Arabia refused to increase oil production requested by President Biden. However the strong US Dollar and uncertainties in Chinese economy hold Crude oil prices from a stronger hike. Market will be watching the relaunch of Nord Stream 1 this Thursday which will have a massive impact on DXY, energy sector commodities. 🔔 As for the technical analysis, implementing the Elliott Wave theory, we might consider that oil is on its way to display newer highs. 🔔 See charts below 🔔 Fibonacci 0.618 level of last weeks correction ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
TVC:UKOIL
by azizelliott
BITCOIN long position 🚀Hello 🐋 Based on the chart, the price is close to important support area and the green trend lines that act as a support for the price ✔️ if the price does not break the green trend line to the downside, we will see more gain to the upside from our support area like the chart at least to the middle of the channel 🚀 our important support areas are $20900 and $21600 and $21900 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Long
by MadWhale
16
BTC Will Have To Make A Big Move Tomorrow. No More Time Left!When looking at BTC on the Daily timeframe, we can see that it has been trading in a descending channel since March 2022. Every time the price moved down, it consolidated into a bear flag pattern which eventually was followed by a downward move as expected when that pattern is printed. When looking closer at this channel, we can see that BTC is starting to print a new candle and coincidently, it opened up inside the channel. This can only mean three things... 1. There's no time left before a bearish or bullish decision needs to be made. 2. BTC will have to break through the powerful channel with a bullish move. 3. BTC will have to dump lower to remain in the channel and most likely continue another bear flag pattern at a new low or a quick wick to a new low. The CPI numbers were released at 9.1% and the whole planet is extremely bearish. Usually, when everyone's bearish, the opposite tends to happen, like what we witnessed today resulting in the crypto market pumping. I can't say I know for sure what will happen next but the day opening where it's at right now can either be a great breakout entry opportunity or a great short opportunity with tight stops. If we do manage to break through the channel, I can see a steady rise to the next dynamic resistance shown as the yellow dotted line, and once again coincidently, that's around 28k. Let's see how this plays out. Love it or hate it, hit that thumbs up and share your thoughts below! Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect! This is not financial advice. This is for educational purposes only.
Long
by rnaofs
4