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Swingtrader

Odds favoring the bears or the bulls in the weeks ahead?Trading Style: Swing trading 4hr/Daily/Weekly Observations: Weekly: Doji candle still valid till we close current weekly candle closes above $4056.33 Volume has considerable dropped in the past weeks. Bulls buying the weekly dip, but move lacking volume. Daily: Daily higher low at $3858 anything above keep bulls in control. RSI approaching oversold conditions. Exponentials acting still acting as support. Analysis: I still believe that the odds favor the bears in the weeks to come. We are currently trading above last weeks doji candle formation, but this weekly candle has not close yet so in my opinion this doji is still valid, needless to say that the market doesn't necessarily needs to retrace right away. BTC can enter a period of sideway trading before its next leg up, or simply retrace to make a new higher low allowing for prices to become more attractive for the bulls. The key here in my opinion is understanding where BTC might retrace to, where can it possibly make this new higher low, or is it going to consolidate within the green box? Possible Plays: In my opinion BTC consolidating within the green box is the least likely scenario, my reasoning behind that comes from the lack of volume and the fact that we been rejected the last previous 8 attempts. I will be more confident in this happening if BTC was at current levels, with increasing bull volume. Note: If BTC manages to close above the $4050 level, back test the range, holds it as support, consolidate between 4k and 4.5k my sentiment will completely change, given that at that point the bulls would have proven to me that they are able to hold as support a level that has proven to be extremely difficult to break. - If the odds start favoring this scenario I'll be zooming into other timeframes to determine a good entry point. Possible profit taking 5K to mid 5k keeping an eye on the SMA50 to act as possible resistance. I see the odds favoring a pull back given that we have NOT establish a weekly higher low since $3337, also the volume dropping off is a huge red flag for me showing that the bulls are exhausted or close to exhaustion, which is to be expected considering that we been grinding our way up for the last 8 weeks with no breaks in between. This in combinations with the doji formation from last week simply have me favoring the bears or a period of sideways trading in the best of scenarios. - If BTC was to lose the Higher highs, higher lows on the daily chart I will be looking to 3700 area to act as support for a possible swing trade given that this area has previously acted as both support and resistance, if this fails I will be either looking for entries close to the SMA200 or the ascending support line of the tentative ascending triangle formation. If this levels break this analysis will be invalidated given that I'll have to re-access the market environment. Sentiment: Long term bullish, Short term Bearish. NOTE: I apologize for saying in my previous analysis that we had lost the higher high/ higher low pattern on the daily chart, to be honest as I was reviewing BTC today I saw no indication of the daily trend being lost so I frankly was either looking at a different timeframe or wasn't paying attention to what I was writing given that the uptrend in the daily is clearly intact. I believe that the best way to learn is to hold ourself accountable for our mistakes and learn from them. Disclosure: I am in no way shape of form qualified to give any financial advise, this are simply my ideas and my personal observations. I believe that the best way to learn is to put your thoughts out there and hopefully learn from those that have been doing this for a long time, having said that please feel free and call me out in any mistakes, or things that I am overlooking.. Constructive criticism is very much welcomed, no better way than learning as a community.
COINBASE:BTCUSD
by jemk88
2
BNB ready for a healthy pullback?Current Style of Trading: 4hr/Daily/Weekly Swings. Sentiment: Longterm: Bullish Short-term: Bearish (I do believe BNB will not fall to a yearly lower low given it currently sits well above it at over 200%, needless to say this can change and so will my sentiment if markets show me otherwise. Observations: Last weekly higher low at $5.94 RSI levels Oversold (weekly). Declining bull volume for the past 3 weeks. Topped out at previous strong resistance 17.50 level. BNB has been running strong for the past 13 to 14 weeks establishing a strong weekly uptrend, but the odds seem to favor a healthy pullback in the upcoming weeks to establish a new weekly higher low compare to $5.94 Possible pull back target: EMA 12 & or 26: It would not surprise me to see BNB at the very least retest the weekly EMA's allowing the RSI levels to cool off opening the doors to a break above 17.50 Also is worth noting the 50SMA a the time or writing is literally right above the EMA 26 making it even a stronger support in my opinion. I favor a pull back or at least a period of sideways trading taking in consideration the insane move BNB has had in the past 2 months or so, per technical analysis we know that a healthy pullback is needed to see continuation, having said that BNB can easily skyrocket in the event of extremely bullish news so please take this into consideration. (I am simply stating the most likely scenario in my opinion) My thoughts: keep in mind I'm not expecting BNB to drop a whopping 40% to meet the EMAs where they're currently located, to get a better picture we will need to pay attention at the Daily, 4hr and 1hr charts to find clues where the possible bottom of the pull back might be at. I will be patiently waiting for this pull back and oversold levels to make an entry, depending on the volume behind the bounce I will sit on my trade for several days or weeks, walking my stop loss along the way. Disclosure: Please keep in mind that this are simply my ideas on the market, I am in no way shape or form qualified to give anyone any financial advise. All I'm looking for is to become a better trader with time and the only way too do this is to post what I am looking at and take criticism from those of you that been doing this for a very long time, having said that please feel free to call me out on BINANCE:BNBUSDT BINANCE:BNBUSDT any mistakes, or incorrect analysis the best way to learn is from each other as a community. Happy trading to all of you!!
by jemk88
ACB: More opportunity to add - Swing TradeLast week I mentioned the valid upwards channel in ACB. We saw that ACB bounced off the channel as expected but unfortunately could not break the top of the channel. This week we may see another buy opportunity similar to the last. What to watch: - Only enter if candle does not break the 4 hr upwards channel. - Watch in the lower time frame, 30 mins - 1 hour for confirmation (at least 2 few candles) before entry. - Be patient for all time high take profit! we will get there soon. Trade at your own risk.
TSX:ACBLong
by Litwolf
Could xrp soon reach 0.40 ?As you can see, I have done these kinds of hype predictions about the cryptos, this is because we are nearing a close of long term triangles on every chart. This obviously means we will either see a huge surge or a huge dump. Regarding the sentiment, I think we could see a little bull run commencing, that does not mean that it will go to the "moon" as the youth would say. But this could be a great trade. I personally got some limit orders placed on Kraken for XRP at 0.30, 0.3025, 0.298. I am expecting a peek down to these regions before a nice shot up to a previous high. If you are looking at the chart, zoom out and look at the big picture, this might make more sense to you as why I believe this. If we see, that there is no test of the support trend line, and we break threw, I would recommend selling your positions for a loss, as we could reach some new lows. These are the moments where big movement happens
KRAKEN:XRPUSDLong
by Yokoj
KING KONG SPX: Swing Trade to ATH. - Update from my last analysis of the SPX: The first 10 minutes of market open, we see price gap through the resistance like it was NOTHING. King Kong style, wow. - Big money wants the market to reach ath before going down so we follow the trend. THE TREND IS YOUR FRIEND. - Ichimoku cloud showing upside in the weekly and monthly so up, up and away! - Wait for confirmation on support in the smaller tame frames: 4h-1h. Trade at your own risk.
SP:SPXLong
by Litwolf
2
Z1P take profit!In my humble opinion we have entered a parabolic section on Z1P. looking at exiting at $1.535 for a few reason with a pull back to the 61.8% level! Bump run on the longer term and on the intraday right now which is giving us a good exit signal, including MASSIVE BEAR DIV. on the RSI All of these signals make it to tantalizing to pass up! looking at an take profit exit and then a swing down entry for 1 last long! Stay Vigilant Good luck & happy trading homies! DYOR!
ASX:ZIPShort
by tradingtradefortading
8