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Bitcoin Supply ZoneHello traders As you know bitcoin started to turn bullish weeks ago, market greed has increased, and dominance is above 42%. On a day to day charts and the short term, Bitcoin hit a supply zone that is pretty strong in every timeframe. I see a rejection from that zone, and I think this rejection might create a bearish momentum for the short term; in other word, I will call it a correction for a bullish trend. I screenshotted a metric from Glassnode called realized Profit/loss Ratio, which shows that most of the network wallets are currently in profit. This is a risk for a price. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
Short
by Crypto_MD
EURUSD NY Session LongGoodday traders, Price grabbed the first BSL targets mentioned in post before. Price grabbed it in Londen key timing session. Im now looking for a continuation setup for the NY session and grab the equal Highs liquidity as target. Entry based on 5 MIN Bullish OB and an optimal trade entry from the swing that made the Break of the old highs. Also in discount off the bullish swing (Lower than 50% off the total swing). Price holded the possible level to create a Swing Low on the daily timeframe. For me enough, price could retrace bullish into more BSL. Showing me Bullish price action here. Best case scenario would be for key the timings: 14:30 UCT+1 or 15:30 UCT+1 to, create false bearish move out of the consolidation to fill my Long entry. No financial advice. Dave
Long
by Dave_DayTrader
8
EURUSD 2 possible tradesGoodmorning traders, Im looking for these 2 scenario's on EURUSD to take a long trade on. Both the goals on the trade are to take out the Old High. Market took enough SSL already so a high chance its seeking BSL and take out the old high. Also we are still bullish bigger tiemframe, So these 2 trades are with the big trend and bias. Scenario 1: Aggresive buy. Scenario 2: Best buy option in discount prices of the swing and has an Optimal trade entry. NO financial advice Have a great day.
by Dave_DayTrader
3
CME close as minor S/R levels.Not a great deal of excitement to be had from bitcoin lately. However here's a recurring pattern i have been observing lately since we've been stuck in so many tight ranges. Quite simply the horizontal lines here correspond to recent CME weekly close prices. The whole gap filling thing is well known so i won't go into that but what is more interesting is how many times these lines have provided minor supports and resistances when viewed in shorter time frames. Last week's close level has provided us 6 small bounces since tuesday, perhaps more if we zoom into even lower timeframes from last weekend. This is not an isolated case either. Obviously this is mainly of interest for scalping while the market is so tightly bound but it's useful to note that some like the 18th and 25th Nov closes lower down have also given us so larger bounces. To clarify the price i'm using is the actual weekly close from the CME futures regardless of any divergence it has from the spot price at that same time. Initially i was just looking at them for gap fill targets but it seems they continue to be useful even after that. Worth taking the time to explore this while the market is sideways. I expect this idea will become obsolete whenever btc starts to show signs of a trending direction, either up or down. Of course, we may be waiting some for that to happen.
COINBASE:BTCUSD
by mutantdog
Correction of BitcoinHello Traders As you can see in the chart above, Bitcoin is currently in a resistance zone which can cause capitulation. I Screenshotted a metric from Glassnode called addresses with a supply of more than 1K, Which decreased drastically in the previous bitcoin bullish movement; this alone can confirm the technical scenario. On the network data side, I saw most of the bitcoins that moved in the last day were mostly in profits—another risk to the price. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD