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Reliefrally

Relief Rally?Hello Traders, I will get straight to the point today. It looks like a bit of a reversal, or is it a bear market relief rally? What I'm looking at: If price moves above around 408.80-409.5 and keeps momentum, watch out for a gap up around 412. This is likely a relief rally, and we are probably just reverting to back to the trend because we were QUITE a bit oversold, but we are seeing a low volume move upward. Like I said before to those who follow me here and elsewhere, the downtrend is weakening, but lets not get ahead of ourselves. This isn't like after COVID hit or March '09 (the month the Bull market was reborn), we LIKELY won't have a recovery like that without a catalyst (i.e. Ukraine war end, steep inflation drop, steep oil demand decline/supply increase -aka priced too high/Saudi production increase). Technically speaking, we're hitting a small supply zone around 406 it might push back down a little then move upward to keep the trend pattern going. Around 410.90 another Supply zone on the chart. We don't hit the big ones until 417+ but I don't think it's likely we'll make it up that far. I'm getting a little ahead in this prediction, but this is for preparation for my followers or anyone who needs a little guidance. Cheers, Mike (UPRIGHT Trading)
AMEX:SPY
by UPRIGHTTrading
BTC Bounce UP ( Macro trends supportWe might see a BTC bounce UP. Elliot Waves show the correction ( A, B, C ) has finished. -DXY ( Dollar Strenght Average ) is in decline, indicating that the dollar will weaken. -BTC shorts are in decline. -SP500 relief. - JP Morgan announces a possible BTC up move. ( Might be an indication of a relief rally where they intend to find exit liquidity) On a concerning level, we see that Nexo, Curve, and other institutional lending platforms have slashed their rates which means the demand for institutional SPOT lending is decreasing. Less money flows into the SPOT market which might diminish the bear trend breakage. This supports the relief rally idea by taking into account the larger institutional interest for exit liquidity.
BITSTAMP:BTCUSD
by OxTed
1
ETH: WEEKLY UPDATE! LINE CHART!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ETH update. Why ETH can pump in upcoming days? 1) ETH is forming a falling wedge like structure in the weekly time frame and currently trading near the lower trendline of the wedge. 2) The main support level for ETH is at $1700-$1900 level 3) RSI is also forming a big falling wedge and looks like it might go to test the lower trendline in next few days. After touching it we can expect a good bounce. 4) Breaking below the falling wedge and everyone thinks that it's over but in actual it turned out to be a trap and ETH moving an upside rally again. As you now all the altcoins follow ETH price action so when ETH starts it's rally we have seen a mini Alt season as well. Till now wait patiently and try to accumulate good coins in dip. What do you think about this? Do you think we can see a good relief rally in ETH and Alt coins or do you it will continuously dumping. Share your views in the comment section. If you like this idea then do support it with likes and follow. Thank You!
Long
by CoreCrypto1
1
Did Bitcoin BLOW It's Chances?As we've discussed in detail over our last few analysis episodes here on TradingView, Bitcoin did in fact look nice. All was strongly laid up for a big pump, but rather than graciously bouncing off the trampoline like an alpha, it slipped and broke its teeth and leg. Now, after the baby pool has reddened by blood, Bitcoin is back on the trampoline for a second try. This time it may very well get a clean jump, yet with a broken leg chances are it'll be a clumsy dive. Why then is that? It's found good support no matter how we measure, whether we focus on the parallel channel or the expanding triangle. A megaphone through which it can shout out its pain. So why the pessimism? There are a few reasons for this. The main problem spells R-S-I. Late January we got ourselves a nice lower bullish red buy signal. This has now been stopped out as it closed >1% below the signal level. What this typically means ... as in with remarkable statistical reliability ... is that the price will move down within the upcoming <50 candles, as in 50 weeks in this case - or, let us just call it a year. This does by no account mean the price cannot or will not move higher before giving up and rolling over. Given that Bitcoin's found good support right at two separate technical key levels ... and given how immaculately weak the Bitcoin Fear & Greed index has been for most of the year (and not to mention the last couple of weeks!), the angry bears should have run out of enough steam for now to justify at least a minor pump, relief rally, bull trap ... call it whatever you want! Upon a pump there are a few prime zones at which Bitcoin may run into particular technical difficulties in overcoming them. First and foremost we have $34,000-$35,200. Next up is the $39,750-$40,250 zone - both of which coincide with the 382 and 618 fibs respectively, and both of which will have to push through the EMA50, -100 and -200 bands respectively. After that comes the real trouble-maker: $44,500-$48,000. Not only does this level hold good historical merit, a break of this pivotal top would break the bearish curse of lower lows and lower highs. It'd be the first time since the November peak since Bitcoin has taken out a new higher pivot high. That'd certainly be something to celebra and only then would we have good reason to become truly bullish again. But don't be fooled, for the way over there is much longer than first seems. It's more of a mirage than anything palpable. For these reasons, and unless new data is given along the way to alter the technical landscape, I will use any pump to release my holdings in anticipation of steep and sustained moves to the downside. /Long Life Trading
BITSTAMP:BTCUSD
by LongLifeTrading
2
EURUSD Outlook for May 2022...My analysis for EURUSD on the monthly timeframe. Includes some simple fundamental perspective but if you want to discuss fundamentals in depth feel free to comment below. Aside from that, there's not much the dollar can do to beat anticipations unless liquidity of the dollar really tightens. In that scenario, the dollar will really strengthen and we could see parity, but I don't think the Fed will tolerate that or even risk the possibility. It's more of a possibility that something breaks in the U.S. economy, which is the case when every recession has happened in the U.S., so it would be sudden. Aside from that the Euro is moving well economically too, maybe a little less enthusiasm towards it than the dollar and more of a risk to it's bullish scenario comes from Russia, energy and slowdown in the EU as a result of sanctions and high prices. Either way, technicals on the lower timeframes to follow...
by UnknownUnicorn15362357
When Relief Rally Coincided with Quad WitchingYM1! The US equity market selloff in Q1 was pretty fierce due to a confluence of reasons. Even the large-cap stocks have entered Oversold territory, as suggested by the RSI on the E-mini Dow future. Since the middle of March, the equity market experienced a typical round of relief rally, coinciding with the Quad Witching, when a large amount of derivatives expiration, order flow, and rebalancing happened. Now the Dow is far away from the Oversold level, and the previous support has become overhead resistance. The decline will likely resume as the Fed is determined to tighten financial conditions to fight inflation. Entry at 34400, stop above 35450. Targets are 32500 and 30000. Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
CBOT_MINI:YM1!Short
by inspirante
XRP - Patience Is a VirtueMarkets have responded very well to a rate hikes, which was something I was a bit nervous about. Major indices have responded well to it and that is all that matters if we want the recovery/relief rally anywhere in the equities markets to which crypto is tied to. There is nothing much to say about the XRP price as it has not changed much during this week. Price has been hoovering around $0.74-0.85 price area, liquidating longs and shorts left and right. It looks to me like the market is really trying to torture holders which such sloppy price action. There are two ways market tries to shake out retail. One way is with sudden dips, and the other way is by time, where low prices are just going sideways for a very long time, until people just can't take it anymore and capitulate right before it reverses. The key here is patience which will pay off massively at the end and i am certain this will happen. In my opinion just buy more or hold, but definitely don't sell or short the market here. Right now i am first looking for the price to break above the green descending trend line and setting a new local high above $0.9168 (yellow arrow). It would also look healthy if we could have some kind of a back test of this trend line later on, before continuing the trend upwards which could be parabolic. The price was unable to break above this trend line for almost 5 months at this point so breaking above it is quite a significant sign of strength. I am not a financial advisor so non of this should be taken as a financial advise. BINANCE:XRPUSDT
Long
by CR35
BTC Don't Get Too Excited - Not The Bottom YetLooking at the fear and greed index for BTC, you can see that even though BTC didn't really have a rally yet, just broke a downtrend it has return to almost neutral. That is a MASSIVE increase from yesterday when it was just 26, now is 45 and BTC has only rose 5%. This is a clear indication that market behaves very irrational. People get excited on the small rise very quickly and vice versa. Because of this there are going to be a lot of fake outs, weather those are to the upside or downside, but mainly upside as BTC is clearly in a bear market. Don't get too excited on the pump that may happen in the next week, and just know that this is to be expected when prices loose that much value in such short time without providing any relief rally. Still i expect BTC to reach 55k area (significant resistence before another leg down most likely starting with a 4 smaller waves and then 7 larger as we go steeper to the bottom. This is just a guess based on how those last legs end playing out. I am not a financial advisor so non of this should be taken as a financial advise. Be Well. BINANCE:BTCUSDT
by CR35
USDT DOMINANCE SPIKE: RELIEF RALLY SOON FOR ALTS/BTC?USDT Dominance measures USDT market cap against all other coins. While not as potent as BTCD or TOTAL2, it can be a helpful indicator to know what traders are doing, as many of them use USDT over fiat. Obviously, when BTC sells off, USDTD spikes. Based on a little TA, we might expect a relief rally for the market soon. USDT is basically at resistance, but it did put in a slightly higher high. Recent volume is decreasing, signaling a reduction in selling pressure. RSI is nearly at Overbought levels (which would be considered oversold for the rest of the market) Just remember - When you think BTC can't go any lower... it always can. Happy trades, CD
CRYPTOCAP:USDT.D
by cryptodonovan
1
Relief Rally about to beginThis is an update on the indicators and concepts I have been watching for a couple of months now. I was hoping for the signal on the NVT to be apparent on the 1 day chart for an even better entry but so far that signal isn't as clear as the 2 day chart. In short, the NVT went into the green which is a position that for the last couple of years loathes to be in. As such it seems very clear that we will have a bounce from here. If yo are an accumulator you would be looking to accumulate here for the long run Perhaps not as much as you would if you see the NVT flash its buy signal on the weekly. Key Concept Major moves happen when key levels or trendlines are tested and retested. They flip from support to resisntance and back. Trendlines come back to life after months or even years after we thought they were not needed any more. The key thing I will be evaluating is how the price action will act at the purple trendline. Due to my current bearish bias It hink that it will act bearishly as resistance. This price action is a lot flatter than the top 3 and more resembles top 2. Either way the plays would be the same. Once of the levels I want to see flip from resistance to support are the fib log growth curves. I have left in just the levels aroung 50% to show how important the levels are. I expect the light blue level to act as resistance here shortly. The plays If you don't like the risk at shorting you are going to be watching the trendlines for that sign of rejection before you dump your bags. Bull traps are the last chance for bag holders who missed the first dump to exit their positions. A pateint trader or investor will be evaluationg to see if the trendline can be beaten as resistance and if the price action actually hops on top of the purple trendline then the crisis is averted. But if both the purple and orange trendlines act as resistance then it is very bad news bears. If you are a trader and have the risk and stress apetite you will be looking to long the move into the bulltrap and then short the next dump. This requires some effort and ability and isn't recommended for the general trading population. Coming up shortly will be the sister post for the day looking at volume and ichi-moku clouds. This post is tagged neutral because you could use it to go long and short depending on your preference
BITSTAMP:BTCUSD
by This_Guhy
8
BTC: ANOTHER RETRACE COMING? (BEARISH IDEAS)While we have been getting some recent relief on lower timeframes, bearish ideas still outweigh the bullish, unless BTC manages to break and hold above 40k. The simplest and most significant indicator for further downside is that volume has gone down during this recent recovery. On chain analysis shows that as of a few days ago, long term hodlers have been accumulating, but whales were still selling. Consistent sell orders have driven the price steadily downwards towards more attractive entry points as they try to get as many retail traders to capitulate as possible. Perhaps the decrease in volume on this recent rally suggests that the whales are giving retail a hit of hopium before they crush our dreams of a swift recovery & takeoff to 70k & beyond. This is speculation, but it would not surprise me if BTC dumps promptly after breaking 40k and a bunch of buyers fomo in. I'm not going to try to call the bottom. Short term, Obviously 35k and 30k are in the cards. Below that, look to 27k. Perhaps the most bullish outcome would be for BTC to simply range between 30k & 40k for a month, which would make for a great alt season in June! To be honest, I wouldn't mind another BTC retrace so I can scale back into BTC and ETH at better prices. Right now I'm ~60% in Tether & focusing on short term scalp trades until the bulls show up for real. happy trades, CD
Short
by cryptodonovan
1
Circled is bare minimum for a relief rally BTCThis area doesn't get reclaimed in the next day, I would say prepare for BTC down into the 30s, I have seen some analysis pointing to a retest of 30K. That would be ugly, but I can't rule it out just because it doesn't feel good. Great time to be advising friends, etc, who haven't bought any would be to start deploying small amounts of cash at these levels, and to start Dollar Cost Averaging into a position. 100 K is still on the menu this year, but it could still take a long time, and I cannot guarantee that it happens this year (anything can happen), at this point.
COINBASE:BTCUSD
by JJMa
#BankNifty - Triangle broke out Triangle is breaking out on the upside, waiting on Retest to enter a long position, there are always so many gaps on traditional markets hence I prefer to use Line chart instead of candlesticks for swing trading setups will post a R:r setup in timeline once we CLOSE above the yellow trendline weekly MACD is also printing bullish signal about to cross also there is a double Bottom formed on the weekly time frame I have posted some Bank charts as well they are all forming same patterns & looking for a Relief rally. I still consider this bounces as dead cat bounce mainly because Vaccine for Covid-19 is not available for the masses, as long as not every human has been vaccinated the fear of WAVE 2 hitting us will be there, we are also opening up our country which is understandable as second option is much worse for the economy - Depression!! we have to face the fact & start to live with this virus, there are only 2 emotions that really matters FEAR & GREED, I won't suggest you to be TOO GREEDY with this bounce, keep taking profits at every resistance There are stocks charts already updated in my profile make sure to check them out :) do let me know your thoughts on current market situation & the pandemic we are facing in the comments
NSE:BANKNIFTYLong
by TradingV2
5
THETA/USDT 0.618 relief rally, Short term LONGShort term trade, relief rally from the 0.618 retracing to the 0.5 of the move down. ENTRY: 0.246 STOPS: 0.194 1st TARGET: 0.413 - Take 60% off here, move stops to break even and enjoy the free ride on the house ;) Never Trust. Verify. DYOR. Not Financial Advice Just an Observation. Always remember: technical analysis is not about being right, it's about increasing your odds. Be prepared to be wrong. Risk management is key. Capital preservation above all else.
BINANCE:THETAUSDLong
by TribeWriter666
SPY - About to Drop the Hammer? - 200 Moving Average in SightWould all the people waiting for a pullback please stand up! As those who follow my analysis would know, i (and a host of other analysts) have been warning of the inevitable 2nd wave down that EVERY market will face at some point. From the 1929 crash to the 2000 tech wreck to the 2008 GFC and what i believe will be remembered as the 2020 market crash But... Let it be know that just as trying to catch a falling knife is ill advised, so it seems is to try to catch a plane mid takeoff. That being said, the SPY is fast approaching the 200 moving average and has crossed above the 61.8% fib retracement. I am a firm believer that 99% of the time the market will do precisely what will screw over the majority of the traders, with that in mind, there are two scenarios. Scenario 1: Bulls get it right ~ The rally continues, fueled by Fed liquidity, news of governments around the globe getting a handle on the Covid19 situation and other transient thoughts and hopes. Despite all rational thought, the markets rally. ~ The first target would be above the 200 moving average and the 78.6% fib level, at this point the market would have to be on crack, but it is possible. ~ Believe it or not though, this is NOT the craziest target i have, it may sound insane, but i do believe that under the right circumstances, market could challenge prior highs, certainly filling the gap present at the 90% retracement. Scenario 2: Bears get it right...finally ~The rally rolls over and at least the market retraces to the 50% level from here, potentially between the 38.2% and the 61.8% range. ~The more extreme scenario sees the same move lower, but instead of stalling within that range, the market drop sharply to prior lows, potentially even taking them out. I mentioned the pains of putting on the bearish plays on SPY, while it is no fun to lose money, it is worth noting that my net position is relatively unchanged due to the two BULLISH plays that i also included, funnily enough both on WES. So whilst i do believe that the bears and indeed reality WILL prevail in the end, i am no fool to the powers of the Fed's liquidity hose, and neither should you. -TradingEdge
AMEX:SPY
by Profit_Link
3