Descending triangle is about to breakout on BTC!!We have this textbook descending triangle pattern on the 4 hourly and is about to breakout.
I am in short position since 39k and my stop loss is at 39.5k on the 20X leverage and my price target is 37k where i am maybe even interested to go with a long position of the sign of a bounce.
As the Nick Diaz once said "Dont be scared homie"
What do you think about this descending triangle?
Feel free to leave a comment.
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Shortterm
BTC - Current momentum in favour of the bears#Btc is currently consolidating at @38,800usd but looks primed to fall to an established 30k support zone as indicated on the chart, seeing that it has fallen out of a full year’s ascending channel and has been rejected twice on it’s attempt to make a re entry back into that channel.
There’s been no major news for btc that’s strong enough to drive a strong momentum upwards and there is extreme fear in the market as of today, hereby shifting the momentum in favour of the bears. Unless some unforeseen events occur as soon as possible to bring back confidence for the bulls, expect the bears to create a strong descent in price as the 29-33k support is currently looking like an enticing prey, so take note my loves. I wish y’all a profitable trading!
This is NOT investment advice.
Trade with caution.
$BKNK Double Top Activated!Booking activated a double top when lost 2057.32 $ which was a support for the last 227 days.
The figure is very clear and for the last two days it's been rendering two little candles with little shadows so now which was a support now seems a resistance.
The objective of the double top is the 1400 $ zone. Let´s see what happens!
If you want to $SHORT this ticker, that's your order:
BUY: anything under 2056 $.
STOPLOSS: Theory says to set the ceiling area but that´s too much IMO, that's a lot to put into risk. I would set some value below the 200 WMA. But it's up to you.
TAKE PROFIT: 1400 $.
BENEFIT: Around 30%
This is not financial advice. Do your own due diligence.
ETHBTC SHORT TERM LONGWe are ending retracement to an uptrend, bounced off of a buy zone which was formed by an institutional candle we are looking for a retracement to at least 50% fib zone.
Aroon: In 1 hour time frames we are already in uptrend which shows that we should go for long, in 4 hour it shows that we also are losing momentum for short, which gives us more reason to go for long. In a daily chart we can see lines coming together that shows gain momentum for long.
MACD: MACD shows gain in momentum in 4 hour time frame, and we should get an entry from MACD from 1 hour time frame in a couple of candles. Also in daily charts we are shown gain of momentum for long.
Bollinger band: We bounced off of a bottom Bollinger band and started making higher highs and higher lows since in one hour time frame. Also we bounced in bigger time frames.
Entry: 0.0664
Invalidation 0.0653
Target 1: 0.0686
Target 2:0.0706
Ratio to Target 1: 1:2.1
Ratio to Target 1: 1:3.8
Can We BUY ITC NOW For Short TermNSE:ITC
In Previous Week Candle Has Form A Tail Formation Which Is Good Indication Of Efforts To Stop The Fall Or Of Good Buying.
In Last Week Again We Have Seen Good Efforts To Push Prices Up In Itc.
Which Indicates Itc Is Stronger Than Index As We Haven't Seen Major Down Move In Stock.
We Can Prefer This Stock For Holding Period Of 2-3 Months.
Stop Loss Below 195 Closing Basis
BTC swing short trade on crab to 34k-44kAfter a rejection near the key level of 47k and a daily close under the 50% fib retrace of the 36k low to 46k high, I suspect we may face another correction.
This is all under the guise that the recent uptrend was a 3-wave move, with a wick under 39.4k confirming the corrective move. So far it hasn't done so, but with a daily close under the 50%fib retracement, it is leaning more bearish.
Good entries for a short would be along the white solid trendline hovering ~41.5k. Since we haven't wicked under the 39k high on feb 1st, the stop loss should be near 47k. But with take profit nearing 34k to 37k, its set at 44k to maintain a 2 r/r ratio. tp is derived from possible retests around the -1stdev of the yearly vwap at 37k, and the two orange PoC lines noted on the chart.
The BBWP indicator below has inputs set to a Daily chart relative to the current 4hr chart. Bouncing off of the 20 reading could bring more volatility, but it is not yet confirmed. Btc could consolidate a bit until a move to the white trendline ~41k.
MA of the RSI on the weekly has yet to crossover from being under 50 for a while. It's very close to doing so, but at the same time given the outlook on lower time frames, there's room for the signal to head down to the green BB. Given the weekly bull divergence signal and the gravestone doji candle from the prev. week, I'm learning overall crabbish for now with a lean toward the bears.
Trade:
entry @ 41k
sl @ 45k
tp1 @ 37k
tp2 @ 34k
SUPPORT
-1 stdev of yearly vwap @ 37.2k
Cycle wave PoC's @36k & 33.7k
Yellow dashed trendline
-2 stdev of yearly vwap @ 28.5k
RESISTANCE
negative slope White trendline ~41.5k
yearly vwap & PoC of the downtrend from 69k to 33k low @ 47k
+1,+2 stdev of yr vwap noted on chart
INVALIDATIONS
closing over 42k before breaching 44.7k high
29k low of 2021
SPX 500 - BOTTOM REACHED (Short Term Move)OANDA:SPX500USD
Considering we are reacting from a MONTHLY AREA OF DEMAND **See my profile for more information**
We are seeing a reaction to a 2 HOUR DEMAND LEVEL, with targets to the SUPPLY LEVEL higher up. This trade is to take advantage of the shorter-term move. This trade hitting targets, our longer-term trade, with targets higher up become risk-free.
If this level is respected and the cause of the break of the opposing supply level, evidence will build that this is the bottom of the market and demand will start to build for the S&P 500 including all other US indices and most US Stocks that are ALSO currently reacting to monthly demand levels **See my profile for info on those stock palys**
This level could be responsible for a push higher if supply and demand levels are respected.