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Pivot

BTC – Multiple Indicators Bullish Short-Term Trend FormingSummary: It would appear that in the short term Bitcoin is forming a bullish trend that should be a confirmed trade beginning at the range of 8850 if a four hour candle is formed above that level until it meets resistance at 9881. If Bitcoin fails to break out past 8850, it's possible that it could recover at the resistance line around 8400. If 8400 fails to hold than the next downside target would be in the range of 7670. The chart: I apologize in advance if the chart seems a little busy but we have a number of indicators pointing to the same price levels which makes for a very nice confirmation and I think it's important to show that. At the moment 17:51 UTC, Bitcoin is trading at 8579. This puts Bitcoin just above the red dotted line on the chart which shows the low points for trading since 20 March. This is a significant resistance line from which Bitcoin has bounced in just the last couple of hours. The yellow dotted line just below the last candle is the short-term trend up line. In a larger picture, Bitcoin is in the middle of the long-term triangle as bounded by the blue dotted lines. These are major support resistance for the price of Bitcoin. One of the confirmations that I have for the current price trading range is the last few pivot points which I've plotted out showing R1 (red) at the top which is the upper resistance it also intersects the upper line of the descending major price trend. The lower pivot line S1 (red) handily also intersects the lower major trendline of the triangle for Bitcoin's trading range. We also have the light blue solid channel which shows the recent trading range of Bitcoin. As you can see Bitcoin is poised to break this channel's upper line, which would be a net positive for the short-term future. Should Bitcoin rise above the solid blue upper channel line and form a candle on the four hour chart somewhere in the neighborhood of 8850, then I would expect price to trade upward until the next Fibonacci pivot point at R1 (red) with the price of 9881. R1 will be a significant resistance point so if we were to make it that far, I would take profits there and expect a pullback into the range of the P pivot center line (Brown colored) on the chart. This level is also confirmed by the upper light blue line of the descending trend channel as a resistance/support line. So in short, we have several confirmations for the upper and lower bounds as well as the outlined trade. Please, Don't forget to Like Agree, Comment and Follow Me, It's additional encouragement for me to share my work. All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor. Wishing you success, Isaac
Long
by 6Shooter
XBT BTC Short Position - It is time for a retracement correctionIt is time for a major selloff soon for Bitcoin. All timeframes are grossly overbought and showing signs of bearish momentum divergence inbound. Regardless of the fundamental aspects causing any bitcoin increase of price I highly suspect the technicals and high selling pressures will move this correction downward just as it has in the past. You can also see it's at a critical level of support (green arrows) dating back several months which then transitioned likely into a strong resistance (red arrow). It's unlikely BTC has the power to blast through this level right now. This is not financial advice and is for educational purposes only.
BITFINEX:BTCUSDShort
by WarDaddy
4
SALT Long-term Prediction and Potential Profit TargetsYou can see SALT starting to breakout its downtrend falling wedge with good volume. Labeled are some tiered entry and exit points using Fib retracement/extensions. SALT is a real project with a solid team and an A+ track record. Huge plans this coming month and Q2. The future is looking bright for SALT. This news could skyrocket SALT which appears poised for a big swing up. This is for educational purposes only and is in no way investment advice of any kind.
SLong
by WarDaddy
BTC prediction As you can see, BTC has just finished a classic ABC correction move following a much larger 12345 Elliot impulse down in a bear trend. I expect some sideways consolidation and a nice battle between bulls and bears. It's hard to make a solid prediction up versus down at this time, but what is likely is whichever bias is chosen it's really going to take off quickly. If BTC moves up, it will reach another critical decision around the 9.5-9.6 k range. Bulish movement up beyond here would tend to confirm an official reversal. It could also be rejected from this level back to its dynamic sloping support. If BTC moves down, it could restart a new bearish impulse supercycle downward, testing the bottom to form U-shaped double-bottom or perhaps a more violent lower-low with a V-shape. Time will tell! Either way, should be fun to watch the King as usual :) This is for education and speculative purposes only and is not meant to serve in any way as investment or trading advice for any financial means.
BITMEX:BTCUSD.P
by WarDaddy
Bitcoin BTC Fibronacci Technical AnalysisThis analysis is a "Fib.-trifecta" combining a retracement, fan and spirals. I actually had to calculate the next Fib. level by hand. I don't think trading is usually this extreme, but hey, this is crypto! If we break current support, the next support level should be aound 7,200 with a likely range of 6850 - 7,540 per the Bitfinex pricing. If this happens, I think this will be the end of this very strong correction and we should get a major bounce up and out of this falling wedge. Let's see what the King has in store for us this weekend.
BITFINEX:BTCUSDLong
by WarDaddy
2
BTC Correction Reversal Point at $8,500You can see the convergence of horizontal support, dynamic sloping support, downtrend channel support and Fibonacci support. All converge at a time of a grossly oversold market with relative strength index bullish momentum divergence which is future confirmed with market structure. Regardless of whether this is the "final bottom", this is a strong buy opportunity and we will start an uptrend as "bottom shorters" find themselves underwater in their positions. This is fun!
BITMEX:BTCUSD.P
by WarDaddy
A deeper look at the EURUSD. Even though the us dollar is experiencing weakness, There is resistance to be found and pivot points still to be driven to the ground. The horizontal lines display continuation and reversal points pertaining to Fibonacci re-trace-mint on prior overall greater trends. There are 3 scenarios. -Consolidation around these pivot points, Breaking and returning until a direction is decided. -A bounce off then and continuation into down trend.At which point we could reapply the Fibonacci for the according downward trend, To identify continuation extents. -The final scenario, is the pivot points are broken at which point we would apply the correct Fibonacci re-trace-mint, to see possible location of it reversal extent.
by ryanfarva
Please help!-If this is in the wrong section I apologize! I am a new trader and I am trying to buy and sell small amounts in short amounts of time..I am trying to configure my chart with the pivot reversal strategy and the SMI oscillator. It seems like the default values (especially for the PRS) do not give good indication of when to buy and when to sell. The red indicating to sell are usually lower than the blue arrows indicating when to buy. Also the little ticker at the top always shows the sell price being lower than the buy price...so I am trying to figure out what input values I can put in so that I can sell high and buy low...thank you all so much!
BITSTAMP:BTCUSD
by cryptobing01
8
Supports for SiaEven though riding the BTC waves, SIA respecting lines nicely like the top reversal perfect with resistance trend formed by previous two tops, making the supports formed more reliable, even in the face of BTC movements. Expect support at first purple and first red horizontal, next tried and tested supports would be the lower purple. Even if BTC drops to its 9-10k supports I doubt that SIA will test lower red. Green is a prediction - If SIA breaks purple, then visually, at this rate, green would form nice support to bounce from, from by the two previous intermediate lows. MA's and other indicators removed for clarity of LINES ONLY. Please leave a like, thought's and comments on how to improve analysis appreciated.
BITTREX:SCUSDShort
by FOREVERTRIP
Top Events & Setups To Trade Today - EUR/USD & GBP/USD in Focus!Good Morning, traders. It's such a phenomenal beginning of the week. Our forex trading signals closed more than 100 pips. The long-term position in Gold is doing great, and the short-term position helped to pocket nearly 55 pips. Likewise, another signal shared in A Quick Trade Setup on EURJPY closed 60 pips. Now I'm serving up EUR/USD and GBP/USD to secure high probability trades. Read More for Trade Ideas: www.fxleaders.com
Long
by Arslan_AliButt
Bitcoin: BTCUSD Pivot point for today looks to be 6450Bitcoin: BTCUSD Update/levels for longs This trade is in balance, but OK above 6450 The trend is overall positive right now barring super near term test of lower parallel and successful, so far, retest of the key level at 6450 - which looks to be the pivot for day on downside) So If broken at any point and our stop 50 points lower is struck we should look to reverse short again on the next rally attempt towards 6440 once it's broken - it must then fail there to trigger the short with stop 50 points above. But until the stop is hit, the trade is good and we stay long to target at 6940 and then we look to close out and get short again with stop 50/60 points above. We then need price to fall below the lower parallel of this impulse wave with some red candles appearing, bigger the better...so if don't see this, just some lazy backing and filling but held up by the lower parallel it means Bitcoin is stronger than anticipated and needs a plan B, again...the width of the parallels is 250 points, great for day-traders and maybe even for swing traders who are willing to sit with it for a while as one of 3 things occur, most likely: 1. It does what it's meant to, reaches target, get short again, red candles, quite big, a failed bounce and then break of the lower parallel about 250 lower at 6700 by this point in time and all's well with the short back to 6510 target and then reverse again, going long with stop under 6420. Sweet. 2. It falls below 6450 and then our stop below here and we're out with 50 point loss plus spreads and reversing completely. 3. It hits our desired target but It doesn't want to break the the lower parallel around 6700 when tested, it holds. In which case close out shorts and wait to see if the bounce is strong with nice green candles again or feeble and likely to fail ...if so short gain when failure is evident, on first retest of the failed lower parallel from underneath (with stop 50 points above), looking for 6510 target, as above from there. On upside, further out in time, and so we are prepared with straight-forward plans (for experienced traders, anyway) for any eventuality: Any break above 6960 which is then sustained on the next pull back would be very surprising (so could happen, it's BItcoin don't forget) and mean we have to long again with stops 50 points under 6940 level. So the pivot point on upsdie is 6960 by look of thins
BITSTAMP:BTCUSDLong
by sumastardon
THE IMPORTANCE OF VOLUME ANALYSISGood day, All! Originally, I just wanted to publish another trading idea: But the more I was looking at the chart, the more it looked like a good example of volume analysis technique. Basically, the concept is pretty simple - when the price is testing strong supply/demand zones, support/resistance levels, trend lines/etc, significant volume spikes are always accompanying these attempts and further price moves. Such an impulse is usually enough for the price to travel certain distance, but is loosing its momentum over time. In order to keep it moving, the price should be supported by further regular medium or higher than that volume spikes. If the momentum is lost, the market is entering the flat period. At the same time, the stopping volume at important key points is usually quite higher than the volume which is just enough to keep the price going in already established trend. Really high volume is a great way to detect that something interesting is going on and that this MAY (but NOT necessarily!) be an indication of a turning point. I would like to underline that sudden volume dynamics change should not be used directly to predict the future trend, but rather should be used to check if the price really keeps its previous direction or it signifies the increased probability of the reversal. Volume changes at certain levels are initiating, supporting and stopping the waves and patterns which are creating the market as we know it and thus being definitely worth at least keeping a close eye on the sudden changes of their dynamics. This is my very first purely educational post and I hope it was helpful :-) If you have any questions, feel free to ask in comments or PM me.
OANDA:UK100GBP
by OceanBlue