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VET/USDThis is a longterm analysis of a possible 3 year outlook for VET/USD using the 1 week chart. Here is a closer look at this VET/USD 1 week Chart. On this 1 week timeframe, VET has been back above its Least Squares Moving Average (LSMA) since the week of 7th March 2022. Note that a weekly close ABOVE the LSMA is considered a BUY SIGNAL for this indicator. VET is also back ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 week timeframe. Note that the Upper and Lower Bands are still contracting indicating VET still has plenty of room to move up or down before expansion kicks in and it becomes over extended on this 1 week timeframe. VET is Back ABOVE its 100MA (Red Line) but still BELOW its 50MA (Blue Line) on this 1 week timeframe. VET is in a massive Rising Wedge Pattern, the APEX of which is around the week of 5th - 12th May 2025 and is at around $8.8 as indicated by the Rising Converging Blue Lines. VET is also in a Triangle Pattern as indicated by the Converging Black Dotted Lines. Looking at the Trend-Based Fib Extension we can see that at the moment, VET has found some resistance from its 0.236 level at $0.0876. Note that the Fib Levels are based on Log Scale. VET closed the last weekly Volume Bar ABOVE its Volume 20 Period MA, in the Green and this weekly Volume Bar will also close ABOVE its Volume MA. VET is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 3 Weekly Candle that i have selected. Looking at the Moving Average Convergence Divergence (MACD), we can see that we have a BUY SIGNAL on this indicator for this 1 week timeframe because the MACD Line (Blue Line) has crosses back ABOVE the SIGNAL Line (Orange Line) creating a new Green Histogram. This is the first new BUY SIGNAL since the week of 25th Oct 2021 and it’s the first new Green Histogram since 22nd Nov 2022. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line, so the next key thing will be when the MACD Line (Blue Line) crosses back over and ABOVE the 0.0 Base Line into the Positive Zone. Looking at the Relative Strength Index (RSI) for this 1 week timeframe, we can see that Momentum is upwards at the moment and the RSI (Purple Line) is back above its 9 Period EMA (Orange Line) and indicating upwards momentum strength. Note that the RSI (Purple Line) has plenty of room to move up before entering the Overbought Zone which is above 70 on this 1 week timeframe. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is still weak with the ADX (Orange Line) at 14.51 under the 20 Threshold and under its 9 Period EMA (Black Line). Positive Momentum has increased with the +DI (Green Line) rising to 25.101 and ABOVE its -DI (Red Line) which is at 19.21. A very good sign on this 1 week timeframe will be if we continue to see the +DI (Green Line) expand further away from the -DI (Red Line) as well as the ADX (Orange Line) crossing back ABOVE its 9 Period EMA (Black Line) and AOVE 20 Threshold. With such a large rise on the Daily, we shouldn't be surprised if VET re-traces back to its LSMA or even its Bollinger Bands Middle Band Basis 20 Period SMA on the 1 day timeframe. Here is a look at the 1 day chart so you can see the Expansion of the Bollinger Bands. Note that VET found support today from its LSMA Level on the 1 day chart. Obviously a lot can happen and change in 3 years with the Crypto Market, VET can easily break ABOVE or BELOW and CLOSE a Weekly Candle ABOVE or BELOW the Rising Wedge Pattern's Trend Lines to invalidate it way before it ever gets to the APEX. The first crucial step for VET will be CLOSE a weekly Candle ABOVE its 0.236 Trend-Based Fib Level at 0.0876 and if needs be, to successfully re-test that level as strong support. Key things to look out for the potential start off on this VET/USD longterm 1 week timeframe in no particular order: For the Positive Side: 1: A successful close ABOVE the 0.236 Trend-Based Fib Extension level. 2: Expansion of the Upper and Lower Bollinger Bands while the Price is above the Upper Band. 3: A successful Weekly Close ABOVE the 50MA, 4: The BB Middle Band 20 Period SMA crossing back ABOVE the 50MA 5: The 100MA crossing back ABOVE the 50MA 6: The MACD Line (Blue Line) crossing back above the 0.0 Base Line into the Positive Zone 7: The ADX Line (Orange Line) crossing back ABOVE the 20 Threshold and its 9 Period EMA (Black Line). 8: A Weekly close ABOVE the Ascending Upper Blue Trend-line of the Rising Wedge Pattern. 9: A Weekly Close ABOVE the Upper Triangle Pattern Trend-line. 10: A successful close ABOVE the 50MA. For the Negative Side: 1: A successful close BELOW the 0.236 Trend-Based Fib Extension level. 2: A drop back UNDER the BB Middle Band Basis 20 Period SMA. 3: A Weekly Close back UNDER the 100MA, 4: A weekly Close back UNDER the LMA. 5: The 100MA crossing back ABOVE the 50MA 6: The MACD Line (Blue Line) crossing back UNDER the SIGNAL LINE (Orange Line) 7: The +DI (Green Line) crossing back UNDER the -DI (Red Line). 8: A Weekly close BELOW the Ascending Bottom Blue Trend-line of the Rising Wedge Pattern. 9: A Weekly Close BELOW the Lower Triangle Pattern Trend-line. 10: The RSI (Purple Line) crossing back UNDER its 9 Period EMA (Orange Line) I’m sure I’ve missed a few things but that’s probably enough of me rambling on. I hope this post is helpful with your Trading, Hodl-ing or DCA-ing.
BINANCE:VETUSD
by TradingThroughTheLens
10
BTC/USD 1WLooking at the Trend-Base Fib Extension we can see that BTC found some support from its 0.5 Fib Level at $30,329. If this support level fails then the next Fib Levels are 0.618 at $26,100 and 0.786 at $20,077. Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 week timeframe. Note that at the moment BTC is below its Bollinger Bands Lower Band. Looking at the Least Squares Moving Average (LSMA) we can see that BTC closed a weekly candle below its LSMA. A close below the LSMA is considered a sell signal. A key area of support is the area from around £31,075 to $28,666 as highlighted by the horizontal black lines with yellow shading. Note that BTC has found support from this Support Zone 9 times previous since the 4th Jan 2021. Looking at the Volume Profile Visible Range (VPVR), you can see potential upcoming areas of previous volume interest if the support at around $28,666 and the 0.618 Fib Level at $26,100 both fail. Note that for the timeframe starting Sept 2020 to the present day, BTC is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. Note that BTC is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 7 weekly candles i have selected. The Average Directional Index (ADX DI) is indicating a sharp rise in Negative Momentum on this 1 week timeframe with the -DI (Red Line) rising to 30.54 and the +DI (Green Line) dropping to 16.27. Note that the Trend Strength is increasing with the ADX (Orange Line) rising to 17.39 and crossing above its 9 Period EMA (Black Line) which is at 17.37. The Relative Strength Index (RSI) is indicating momentum is downwards at the moment for this 1 week timeframe. Note that the RSI (Purple Line) still has room to drop further before entering the Oversold Zone on this 1 week timeframe. Note that the RSI is still below its 9 Period EMA (Orange Line) indicating negative momentum strength. Looking at the Chaikin Money Flow (CMF) we can see that the CMF line (Green Line) is still under the 0.0 Basel Line in the Distribution Zone and has been since the week of the 21st Feb 2022 on this 1 week timeframe. Note that the CMF (Green Line) is also below its Least Squares Moving Average (LSMA) indicating strength for distribution. If we use the area from around $31,075 to $28,666 as our base and the Descending Trend-line then we can clearly see that BTC is also in a Descending Triangle Pattern on this 1 week timeframe. In any case, if the support area fails then there will be some good opportunities to acquire BTC or your crypto of choice at a bargain price before the next bull cycle upwards. Never say never. I hope this quick and dirty post is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by TradingThroughTheLens
Oil bearish until end of april - contrary to geopolitical situatThe high for oil is probably set, for at least a month. It speaks for itself that this is contrary to the current belief due to the war in Ukrain, but the charts speak for themselves. Expect a correction during the remainder of march and april. Target for the correction is 104 to 106 level. Once the correction is over, Oil will probably rise during summer to 168 - 170. The elliott wave is shown. Indicators also shown a momentum high, both RSI as the CFG (cardwell's improved version of the RSI). Especially the CFG is showing a momentum extreme, so a cooling off period is very probable. Timing analysis shows a fibonacci balance of wave 4 to end somewhere in april.
OANDA:WTICOUSDShort
by arnevv
2
ishares Trust iShares U.S. Transportation ETF (IYT)-Bullishishares Trust iShares U.S. Transportation ETF AMEX:IYT I am bullish on IYT because I've identified a Bullish Harami pattern on the daily chart. Furthermore, we have several confluences on the MacD, RSI and volume indicators. -The signal is crossing up like A.I. (Allen Iverson) on the MacD indicator - The RSI indicator is pointing up -The OBV indicator is displaying increasing volume Peace & Prosperity, Al *******This is not financial advice**************This is not financial advice**************This is not financial advice*******
CBOE:IYTLong
by MrALtrades00
Bitcoin: Pillars of Overbought/OS on RSI’s w/ 100D EMA The first 2 pillars on the left price got rejected from 100 Day EMA when RSI's were overbought. The third pillar broke the 100EMA but was still getting/were oversold on the RSI's. The last pillar is close to/has bottomed on the Stoch's and regular RSI is under midline as were testing 100D EMA again. If BTC breaks 100EMA (43.6K) and RSI midline price could have some good room to run, if not RSI could want to bottom again before moving higher.
INDEX:BTCUSD
by MDT3
BITCOIN - Complete Technical AnalysisRussia officially declared war on Ukraine this week, and four days have passed since the conflict between the two countries, and the conflict has intensified. The start of the war was accompanied by a sharp drop in bitcoin, but on the same day, it was strongly supported, and the price again attacked the resistance of $40,000, but eventually, the daily candle closed at the level of $39,000. In recent days, there has been more volatility due to the negative news of the Bitcoin war, but with the possibility of negotiations between Russia and Ukraine, some experts believe that #Bitcoin can start a rising wave again after the end of these tensions. This war once again showed the world the importance of digital currencies and bitcoins. While many bank cards in Ukraine are blocked, and people do not have access to their accounts, bitcoin wallets, and digital currencies have become more active. This proves the world's need for a decentralized financial network such as digital currencies. Bitcoin was well supported on February 24 after the start of the war between Russia and Ukraine and the sharp fall of the price and returned to the price of $34,322, and on February 26, reached the resistance level of $40,000 and the moving average, which is an important resistance area. For Bitcoin. The moving average is trending up, and the Relative Strength Index (RSI) is in the middle of the market, which is a signal that the market is bullish. If the cows can stabilize the price above the moving average, the #BTC will likely rise to the $45,821 range, which is a strong resistance area. If Bitcoin falls below this range, it will probably fluctuate between $36,000 and $39,000 for a few days, and then if this area breaks down further, further Bitcoin declines could lead to a drop in price to $32,900.
by MonoCoinSignal
28
Bitcoin - long term bottom in place - first target 60k in juneBitcoin is showing is that a longer term bottom is in place, because of the following reasons. Momentum analysis The weekly chart found support on the RSI 40 level. A longer term Positive Reversal (LT PR) is there, with a signal count of 16. The Cardwell CFG is bottoming out at the same level as in june 2021. Elliott Wave The strong leg up to april 21, is followed by a textbook flat. The internals are 3-3-5. The strong rebound at 32950 indicates flat-C to be ended, which shows we are in an impulsive wave up now. Target and invalidation - Invalidation: This scenario is invalidated if Bitcoin falls below 32950 - Targets: the first important targets along the way up are the endpoint of wave 1, so somewhere between 60k to 70k. This will probably be reached between april and june. Strong resistance will be found at 52k (previous 4). Eventually 95k and higher are expected.
BITSTAMP:BTCUSDLong
by arnevv
7
MATIC/USDHere is a closer look at this MATIC 1d Binance chart. MATIC is in a massive Ascending Triangle Pattern on the 1 day chart. An Ascending Triangle Pattern is potentially a Bullish Continuation Pattern. The APEX of this Triangle Pattern is around July 2022. For your viewing pleasure, I have added various support and resistance lines within this Ascending Triangle. At the moment, MATIC is ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Upper and Lower Bands are converging inwards indicating volatility has slowed at the moment. Note that MATIC is still above its Least Squares Moving Average (LSMA) for this 1 day timeframe. MATIC is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 11x daily candle that i have selected. Note that MATIC is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. Note that Volume is still low on this Binance chart and note that the last 8x Volume Bars have been BELOW its Volume 20 Period MA. Looking at the Average Direction Index (ADX DI) we can see that the Trend Strength is still strong but has lost some strength with the ADX (Orange Line) dropping slightly to 27.562 below its 9 Period EMA (Black Line) which is at 27.585. Note that Negative Momentum has dropped sharply with the -DI (Red Line) dropping to 26.771. Positive Mmentum has also dropped slightly but not as sharply with the +DI (Green Line) at 18.693. For sustainable upwards momentum to continue, we need the +DI (Green Line) to CROSS back ABOVE the -DI (Red Line) on this 1 day timeframe. Looking at the Moving Average Convergence Divergence (MACD) we can see that momentum is upwards at the moment and the MACD Line (Blue Line) is still ABOVE its Signal Line (Orange Line) on this 1 day timeframe. Note that the MACD Line (Blue Line) has not been above the 0.0 Base Line in the Positive Zone since 7th Jan 2022 on this 1 day timeframe. Be on the lookout for when the MACD Line crosses back above the 0.0 Base Line into the Positive Zone. Taking a quick look at the Relative Strength Index (RSI) we can see that momentum at the moment is slightly downwards. Not that the RSI (Purple Line) is still ABOVE its 9 Period EMA (Orange Line) which is a sign of upwards momentum strength at the moment. Be on the lookout just incase the RSI (Purple Line) drops more and crosses back below its 9 Period EMA (Orange Line). MATIC needs to stay above the Bollinger Bands Middle Band Basis 20 Period SMA and the LSMA indicator for any longterm upwards momentum to be sustainable. If BTC takes another nose dive and causes MATIC to drop downwards out of the Ascending Triangle Pattern then MATIC may drop to its VPVR POC around $0.83 so we need to keep an eye on what BTC is doing as BTC still controls the market direction. If the Ascending Triangle Pattern stays valid, then MATIC may be in for a big move up to possibly well above $10 if it successfully breaks back above the Ascending Triangle Resistance line. I hope this is helpful with your trading and hodl-ing.
M
by TradingThroughTheLens
1
ADA/USDHere is a closer look at this ADA 1 day Binance chart. As you can see, ADA is in a massive Descending Triangle Pattern. A Descending Triangle Pattern is potentially a Bearish Continuation Pattern. Note that ADA is still ABOVE its Longterm Pitchfork Median Line on this 1 day timeframe. ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Upper and Lower Bands are starting to contract and pinch inwards. At the moment ADA is above its Least Squares Moving Average (LSMA) on this 1 day timeframe. Volume is still low on this Binance daily chart and note that the last 13x daily Volume Bars have been below its Volume 20 Period Moving Average. At the moment ADA is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 12x daily candles that i have selected. If we zoom in on the chart, at the moment ADA is below its Volume Profile Visible Range (VPVR POC) for this charts visible range. If we look at the Average Directional Index (ADX DI) we can see that the Trend Strength is very weak with the ADX (Orange Line) at 16.185 and dropping below the 20 Threshold and under its 9 Period EMA (Black Line) which is at 18.559. Positive Momentum has increased with the +DI (Green Line) dropping slightly to 21.931. Negative Momentum has decreased with the -DI (Red Line) dropping to 20.268. We need the +DI (Green line) to stay above the -DI (Red Line) and move further apart. Taking a quick look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is indicating momentum is upwards at the moment and it is still above its Signal Line (Orange Line) but note that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone. Note that the MACD Line (Blue Line) has not been above the 0.0 Base Line in the Positive Zone since 20th Jan 2022 on this 1 day timeframe. Taking a quick look at the Relative Strength Index (RSI) we can see that momentum is downwards art the moment and note that the RSI (Purple Line) is still above its 9 Period EMA (Orange Line) but because momentum is downwards we need to keep an eye on the RSI (Purple Line) the close it gets to its 9 Period EMA (Orange Line). At the moment i still think it's Sideways at best or Downwards at worst for ADA. For any longterm recovery to become sustainable for ADA, we need ADA to make a higher high and CLOSE a daily candle ABOVE the $1.63 blue highlighted area. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by TradingThroughTheLens
4
DJI - longterm Pitchfork Pattern is still valid since July 1932With all this talk about another great depression like stock market crash happening in the very near future, i thought i’d join the fun and take a look and analyse the DJI Monthly Chart. Using an extended Pitchfork Pattern (A,B,C), we can clearly see that the DJI has been in an Upwards Pitchfork Pattern since the Month of the 1st July 1932. Chart wise, you can see The Wall Street Crash of 1929 which started the Month of the 2nd September 1929 and ended the Month of the 1st July 1932. History says the crash ended on 13th Nov 1929 but chart wise it didn’t, because the bottom turned out to be around $40 on the 1st July 1932 not $195 on the 13th Nov 1929. Chart wise, the 2020 Covid-19 crash started in the Month of 2nd Jan 2020 with what’s looks like a Monthly Shooting Star Candle which then lead to 2 more Bearish Monthly Candles. The Candle from the Month of 2nd March wicked all the way down to the depths of hell & found strong support from its Upper Yellow Pitchfork Support Line, the price then managed to close back above its Upper Light Green Pitchfork Support Line. Note that the last time the DJI closed a Monthly Candle below its Pitchfork Median Line was the Month of the 2nd Feb 2009. The Price eventually made it its way back ABOVE its Pitchfork Median Line on the month of the 1st April 2009. At the moment, DJI has found strong resistance from its Upper Light Blue Pitchfork Resistance Line. What is interesting is that this Pitchfork Resistance Line served as strong resistance from the Month of the 3rd May 1999 - 3rd Jan 2000, note that the DJI failed to close a Monthly candle above this level and has not closed a Monthly candle above this Pitchfork Resistance Line since the Month of the 2nd Sept 1929. If we take a look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Positive Zone above the 0.0 Base Line. Note that the MACD Line (Blue Line) is curving downwards and if it crosses back under the Signal Line (Orange Line) then that will be a potential sell signal on this 1 Month timeframe. Note that the MACD Line (Blue Line) has not been in the Negative Zone under the 0.0 Base Line since the Month of 1st Sept 2010. Looking at the Average Directional Index (ADX DI) we can see that Positive Momentum has weakened on this 1 Month timeframe with the +DI (Green Line) dropping to 23.82 and Negative Momentum has risen with the -DI (Red Line) at 14.94. Note that the Trend Strength is sideways with the ADX (Orange Line) at 21.93 and still above its 9 Period EMA (Black Line) which is at 21.05. If the -DI (Red Line) ever crosses back ABOVE the +DI (Green Line) then that would mean that Negative Momentum has become DOMINANT over Positive Momentum on this 1 Month timeframe. If we look at the Relative Strength Index (RSI) we can see that the RSI (Purple Line) has dropped out of the Overbought Zone at the moment. Note that the RSI (Purple Line) is also below its 9 Period EMA (Orange Line) which is a sign of weakness for Positive Momentum on this 1 Month timeframe. Note that we also have DIVERGANCE with the Price and the RSI on this 1 Month timeframe. The Wall Street Crash of 1929 dropped to around -89%. A drop of -89% from the price level at the moment would take DJI Price to around $3,800. The Covid-19 Crash of 2020 dropped to around -38%. A drop of -38% from the price level at the moment would take the DJI Price to around $21,550. Here is a closer look at this 1 Month chart. Note that if DJI does drop massively again then it has potentially 4 Pitchfork Support Levels to support it before it reaches the Pitchfork Median Line. Note that the Upper Dark Green Pitchfork Support Line will be a crucial level to watch as it has acted as support & resistance on multiple occasions over the last 121 years. I hope this post has been helpful with your trading ;-) On a funny note, some may wonder whether or not the 1929 crash happened to mark the conception of a certain individual called Warren Buffett ;-)
TVC:DJI
by TradingThroughTheLens
4
XAUUSD at a key level!Based on the chart, for XAUUSD, price reached a major support area and a rejection is about to happening but it's not completed yet! So at this moment we can have to different scenarios that we are talking below: ---------------------------------------------------------------- 1. Price rejection from the support level is completed and the price moves up 2. The rejection of price will fail and the major support area will break. Then we've to be ready to sell at the pullback. ---------------------------------------------------------------- So what do we think about the price movement right now? Currently we have more bullish bias about the next movement of price. So let's check our reasons: *************************************************** 1. We are in bullish trend ( Bullish ) 2. Price reached to the bottom of a bullish channel ( Bullish ) 3. Price reached to a support area at the moment ( Bullish ) 4. RSI(14) is in oversold area ( Bullish ) 5. It has been a strong bearish movement which lead the price to the bottom of the channel ( Bearish ) *************************************************** So based on the following scenarios we can still have bullish bias otherwise the scenario changes. However consider that these are different scenarios and we do not have enough proofs for buy or sell right now (That's why we set this analysis as Neutral ) But let us see what do you think about the next movement? up or down and why? please bring your reasons and feel free. Your idea is always valuable to us! Good luck and thanks for supporting us!
FOREXCOM:XAUUSD
by Brian_Philips
Types of Trading IndicatorsTraders use different types of indicators to gauge the market conditions. Let's take a look at what are those types of indicators Trend Indicators measures the direction and strength of a trend. When price moves above the average it can be thought of as a bullish trend. When price moves below the average, it's a bearish trend. Momentum Indicators are helpful as they are used to identify price movements by comparing prices over time. Can also be used to analyze volume by comparing current closing prices with previous closing prices. Volatility Indicators are used to analyze the periods of high and low volatility. The big swings created by the volatility can provide good trading opportunities. Volume Indicators plays an important role in technical analysis in confirming trends and patterns which makes volume indicators popular amongst traders. There are hundreds of indicators that can be categorized within these four categories. Also, a volume indicator can be used as a trend indicator or a volatility gauging indicator. The same goes for momentum or trend indicators. Some traders use one indicator to gauge volume while another trader can use the same indicator for another purpose. What kind of Indicators do you use in trading the most and why? It all depends upon the type of trading we are doing off course. Would love to know your opinions in the comment box below. Follow us for more educational analysis, technical ideas, and script updates. Happy Trading!
Education
by Tuned_Official
36
BTC - Let's have a look at the Weekly ChartBTC - let’s have a look at the 1 week chart for a change: Note that BTC is still above its 50MA for this 1W timeframe. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1W timeframe. Note that the Upper and Lower Bollinger Bands are looking very close to expanding, at the moment, if they do expand, this would be expansion for the downside. BTC is still in its longterm upwards Pitchfork Pattern (A,B,C). Note that BTC has found some support from its Pitchfork Median Line. A weekly CLOSE ABOVE this level is crucial if you are waiting to go LONG. A CLOSE BELOW this level will be great if you are waiting to go SHORT. The week hasn’t finished yet but its very likely that BTC will close this weekly candle as a massive Bearish Engulfing Candle. Note that it is a very similar looking candle to the week of 10th May which, if true, may lead to further drops. BTC is still above its Least Squares Moving Average (LSMA) level on this 1W timeframe. BTC is back below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 8 weekly candles that i have selected. It is very crucial that BTC CLOSES a weekly candle ABOVE this POC. Note that Volume is still relatively low and note that the Volume Bars have not been above its Volume 20 Period MA since the week of the 17th May. I have added the crucial support and resistance areas on this weekly chart, you can clearly see that BTC is sandwiched in between a rock and a hard place. The Average Directional Index (ADX DI) is indicating the overall trend strength has weakened dramatically on this 1W timeframe. The ADX (Orange Line) has dropped to 27.18 and is below its 9 Period EMA (Black Line) which is at 34.01. The +DI (Green Line) is at 19.82 and the -DI (Red Line) is at 18.80. At the moment, Positive Momentum is still dominant on this 1W timeframe, but note that the +DI (Green line) is pointing downwards and the -DI (Red Line) is pointing upwards, this indicates we may see Negative Momentum become dominant on this 1W timeframe if the +DI (Green Line) crosses back UNDER the -DI (Red Line). The Chaikin Money Flow (CMF) is actually indicating that BTC is still being Accumulated with the CMF (Green Line) in the accumulation zone at 0.12. Note that we have accumulation strength because the CMF (Green Line) is still above its Least Squares Moving Average (LSMA) which is at -0.01 for this 1W timeframe. The Relative Strength Index (RSI) is indicating momentum is downwards on this 1W timeframe at the moment. Note that the RSI (Purple Line) has crossed back UNDER its 9 Period EMA (Orange Line) which is a sign of strong Negative Momentum on the 1W timeframe. The Moving Average Convergence Divergence (MACD) is crucial to watch because if you are LONG then you don't want the MACD Line (Blue Line) to cross back UNDER the Signal Line (Orange Line) for this 1W timeframe. Note that the MACD Line (Blue Line) is still above the Signal Line (Orange Line) and is also still in the positive zone for this 1W timeframe. For this 1W timeframe, the support area at $42,721 - $40,670 is absolutely crucial to CLOSE a weekly candle ABOVE. Note that this level also has the Pitchfork Median Line running through it as well as the Bollinger Bands Middle Band Basis 20 period SMA. If those levels fail as support then BTC will head to the LSMA and then 50MA level. If we do get an influx of upwards momentum, we STILL need to keep an eye on how this weekly candle CLOSES, because the Bearish Engulfing Candle could become a potential Hanging Man Candle, which would be potentially more devastating. Note that CONFIRMATION on what candle this weekly candle becomes and what direction, will be CONFIRMED on how the NEXT weekly candle ends. As with everything, depending on what timeframe you are in be it short-term, mid-term or longterm, confirmation is key. It should be a very interesting couple of days. I hope this is helpful with your trading and hodl-ing. Notes for those who don’t know: LSMA = Black Squiggly Line on chart 50MA = Blue Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart Pitchfork Pattern = A,B,C Pattern on Chart VPFR POC = Short Horizontal Red Line on Chart Volume Bar = Bottom of Chart Volume 20 Period MA = Orange Line Going through volume Bars on Chart Support & Resistance Areas = Horizontal Parallel Black Lines with Yellow Shading on Chart
BITSTAMP:BTCUSD
by TradingThroughTheLens
4
BTC - Let's have a look at the Daily ChartBTC Update: BTC has finally made it above its major resistance area and turned that level into support. BTC is back below its Pitchfork (A,B,C) Median Line. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that Volatility is actually still low on this 1D timeframe because we do not yet have expansion of the Upper and lower Bollinger Bands. Note that the Upper Band is starting to point Downwards and the Lower Band is still moving upwards indicating we may see a Bollinger Bands Pinch on this 1D timeframe. At the moment of posting this, BTC has dropped below its Least Squares Moving Average (LSMA). A close above this level is crucial. A close below the LSMA will probably mean a drop back into the support area and possibly the BB Middle Band Basis. Using the 20,60,120,30 settings for the Ichimoku Cloud, note that we now have a Cloud (Kumo) Twist into a new Bullish Green Cloud for this 1D timeframe. Note that BTC is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 7 daily candles i have selected. BTC is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. Note that Volume today is still low and the Volume Bar is still under its Volume 20 Period Moving Average, that could change as the day ticks on. Using Simple Moving Averages, note that the 50MA is still rising and it looks like we may very soon see a 50MA cross back over and above the 200MA creating a GOLDEN CROSS for this 1D timeframe. The Average Directional Index (ADX DI) is indicating the trend strength has increased with the ADX (Orange Line) at 28.17 heading sideways but very close to crossing over and above its 9 Period EMA (Black line) which is at 28.20. The +DI (Green Line) has dropped to 23.21 and the -DI (Red Line) has increased to 11.47 at the moment. This means that Positive momentum has dropped and Negative momentum has increased on this 1D timeframe. Note however that there is still a big gap between the +DI (Green Line) and -DI (Red Line) so the price would have to drop substantially for Negative momentum to become dominant on this 1D timeframe. The Relative Strength Index (RSI) is indicating momentum is downwards on this 1D timeframe at the moment. Note that the RSI (Purple Line) is back below its 9 Period EMA (Red Line) indicating increased strength for negative momentum at the moment. So key levels to watch for a daily close ABOVE or BELOW on this 1D timeframe are the LSMA, VPFR POC and the Upper Support Zone. The Bollinger Bands Middle Band Basis becomes the next crucial level to watch if those previous levels mentioned fails as support. I hope this is helpful with your Trading and Hodl-ing. Notes for those who don’t know: LSMA = Black Squiggly Line on chart 50MA = Yellow Squiggly Line on Chart 200MA = Red Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart Pitchfork = A,B,C Pattern on Chart Ichimoku Cloud = Red and Green Cloud Pattern on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal Red Line on Chart Volume Bar = Bottom of Chart Volume 20 Period MA = Black Line Going through volume Bars Support Areas = Horizontal Parallel Black Lines with Yellow Shading
BITSTAMP:BTCUSD
by TradingThroughTheLens
5
BTC - could we soon witness a GOLDEN CROSS?BTC Update: BTC is still safely above its 50MA and its 200MA. Note that the 50MA is pointing upwards and the 200MA is pointing sideways. If the support levels hold strong and if and when BTC is able to push above the Upper Resistance Zone and the Pitchfork Median Line then........ we will witness a GOLDEN CROSS on this 1D timeframe. BTC is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1D timeframe. Note that the Upper Band is starting to point downwards and the lower Band is pointing upwards indicating volatility has slowed on this 1D timeframe. With this consolidation, we are seeing the start of a potential Bollinger Band Pinch, which could lead to a big volatility induced move. BTC has found some resistance from its Least Squares Moving Average (LSMA). Note that a daily close ABOVE the LSMA is a potential buy signal. BTC is above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. At the moment, BTC is fighting to stay above its Volume Profile Fixed Range Point of Control (VPFR POC) the the fixed range of 14 daily candles that I’ve selected. Volume has increased and note that yesterday and today’s volume Bar are above its Volume 20 Period Moving Average. BTC is still in an Upwards Pitchfork Pattern (A,B,C). Note that BTC has crossed under the Pitchfork Median Line (Middle Dashed Line). The Pitchfork Median Line is a crucial level to cross and close back above. BTC has found strong resistance from its Upper Resistance Area of $50,604 - $49,087. BTC has now found strong support from its new Support Area of $46,693 - $46,231. If i just use the Ichimoku Cloud (Kumo) without the other IC indicatiors, you can clearly see that BTC has found VERY STRONG support from the Ichimoku Cloud Leading Span B (Senkou Span B) support Level. This level also coincides with the new Support Area I’ve added. If we look at the Average Directional Index (ADX DI) we can see the trend strength has dropped with the ADX (Orange Line) at 26.50 and still under its 9 Period EMA which is at 31.22. The +DI (Green Line) is pointing upwards at 18.46 and the -DI (Red Line) is pointing downwards at 14.86. This means that while the Trend strength has dropped, Positive Momentum has actually increased and Negative Momentum has decreased. The further the +DI (Green Line) gets away from the -DI (Red Line) the better. The Relative Strength Index (RSI) is indicating Momentum is upwards at the Moment. Note that the RSI (Purple Line) is pointing upwards and looking like it may cross back above its 9 Period EMA (Red Line), this will be a good sign of upwards momentum strength for this 1D timeframe if that happens. Note that the RSI still has plenty of room to move up before becoming overbought on this 1D timeframe. If you are uncertain to go long, then confirmation will be when BTC successfully crosses ABOVE and CLOSES a daily candle ABOVE the Upper Resistance Area. If you are uncertain to go short, then you would wait for BTC to successfully break UNDER and CLOSE a daily candle UNDER the New Support Area and the Leading Span B (Senkou Span B) support Level. Remember that a close ABOVE the LSMA is also a potential BUY signal for this indicator. Full Bullish Confirmation on this 1D Timeframe will be when the Leading Span A (Senkou Span A) crosses back above the Leading Span B (Senkou Span B) cloud support creating a Cloud (Kumo) Twist a new Bullish Green Cloud for this 1D timeframe. Also, don't forget to get your cameras ready for when that 50MA & 200MA Golden Cross happens. ;-) I hope this is helpful with your Trading and Hodl-ing..... cause it does take a while to type it all up :-) Notes for those that don’t know: 50MA = Yellow Squiggly Line on chart 200MA = Red Squiggly Line on chart LSMA = Black Squiggly Line on chart Bollinger Bands = Grey Bands on chart on chart Ichimoku Cloud = Red and Green fluffy Cloud on chart Pitchfork = A,B,C Lines on chart VPVR POC = Long Horizontal Red Line on chart VPFR POC = Short Horizontal Red Line on chart Volume Bars = Bottom of Chart Volume Moving Average = Black Line going through Volume Bars Support and Resistance Areas = Horizontal Black Lines with Yellow Shading
BITSTAMP:BTCUSD
by TradingThroughTheLens
6