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BearCorn to 14k and below Going into 2021, we have seen a parabolic rally with unstoppable momentum, from 4k all the way to 64k , without any noticeable, if any, price reduction or stops along the way. if history has proven something, it is that for every action there is a reaction. As shown on the chart the parabolic advance curve is broken "plus a retest/rejection to boot". In the last 3 instances, followed a major correction as shown on the chart. with an average duration of a 1 year for the bear trend and minimal decline of more than 80% from ATH . The purple channel is the current channel price is currently comfortably swimming inside, while the yellow channel represents the future channel i expect the price to move inside. Why do i assume price will switch channels? we only have the history for the answer, as represented by the brush and the arrow, The slope of advance has gotten weaker with each parabolic curve bypass. Think of the brush as a channel, and the picture becomes clear i left the purple channel shown, as it contains a bull trend line , where you can expect a bounce and a long setup Notable Strong areas to expect a bounce from: = 27k area "Fib golden zone of the whole wave 3" = Purple channel upper trend = 14k "The close of the monthly candle of the 2017 ATH"
BNC:BLXShort
by lilothebest
how i see eurusd for the 2021 yearHello Traders, This is my first update of 2021. I chose eurusd, because i find it very interesting at this moment. When everyone says a bigger correction is due and dollar should get stronger, I see it a little different. I see dollar continuing to suffer in 2021. So my setup on eurusd is to accumulate long positions with each and every drop of the price. First level of accumulation will be the zone marked on the chart in blue. I will leave you off with this quote " Is easy to be faithful in good times but the true rewards come to the ones that are faithful in the hardest of times" I find it to be the perfect motto for the market.
Long
by opentrader08
2
BTC at weekly resistance - Bears coming back ?BTCUSD currently sits at the start of the candle that took us out of the consolidation period of November - December 2019. We will most likely experience some resistance here and we might see a pullback. To overcome this resistance, we need high volume and a weekly close above the 7500 level, ideally above 7600. Without that, we might see doubt kicking in again and price decline to the 6400 level where support should be found. While I am bullish on BTC in the long term, I give it a slightly higher chance we'll see that pullback, especially given the macro-economic situation we are currently in and despite the upcoming halvening.
COINBASE:BTCUSD
by Nico.Muselle
6