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BTC Update !!!! What's next????A lot is going on with BTC at the moment. A common sentiment in the market is not looking great at the moment, and lots of people are starting to believe that we have already entered the bear market. In my opinion, We are still in the bull cycle. Here is why? Even though this correction was brutal, it is a very similar correction we have seen in May and September. We are still in the uptrend that started end of 2020 (Thick blue line). The market should be considered bearish if BTC breaks below 39-43k Support zone, which sits on top of the bullish trendline like a wall. Similar to May-June, we can see significant accumulation near the strong support (Green boxes) and 200 MA. The important thing to notice are the Yellow boxes shows the long accumulation during the dip. Why I'm still bullish? The current accumulation area (Yellow box) got major bullish confluence indicating a strong bullish signal. We have the strong support of around 39-43k, finding support around Fib 0.786 and bouncing at 200 MA. We have seen twice this year, whenever BTC crosses 200 MA we will see a massive pump follows after accumulation. What's next? BTC is currently stuck inside a bullish falling wedge (please zoom in to see the purple falling wedge) and downtrend (thin blue line). It should see a break out for the market to turn GREEN. This could happen if BTC finds support at fib and 200 MA or Correct even further towards 39-43k range to find major support. Anything is possible until we see some clear confirmation such as - Bullish - BTC pumps from this confluence area and break out of the falling wedge and downtrend line Bearish - BTC dumps below 39k (Next major support is around 36k and 32k) This is not financial advice, please DYOR. Please like and follow to support :)
BITSTAMP:BTCUSD
by CryptoCafeClub
1
NIO could break the downtrend line upwards NIO has been in a decreasing trend since the beginning of the year, which has been confirmed with a couple of bounces. Nevertheless, chances are that the price of these shares break this trend line and starts increasing, having as a first objective attaining $49-50 per share. The MACD indicator is right now pointing upwards, which means that the two lines that provide its signals could cross in the following trading sessions, providing a more clear buying signal to the market. Therefore, we will be waiting for a breakout signal. On the other hand, whether the downtrend continues, a triangle figure could end up being created.
NYSE:NIOLong
by mar_lpz
Is EURUSD going long after the break of the trendline?Hi Traders, Looking at the EURUSD chart, we can see that it has formed a descending channel. And it’s currently at the support zone of the channel! So we have the green descending trendline for confirmation, that is, if it breaks this trendline we expect it to move up to the purple trendline. The purple trendline will act as a stronger resistance zone/point so might take more time for a break to happen. If the break eventually happens, The partial TP zone will be our next target and focus!
Long
by deforexmafia
Flipping SPY! - When Support Beaks and Resistance is ForgedThis idea takes some latitude when referring to the AMEX:SPY using the ES1! chart, both being a derivative of the S&P and understood as being similar when moving at a macro level (higher time frames). Previously the recent observable trend was that there was a high chance that the AMEX:SPY would dip soon after options expiration, which it did, followed by a rally after that would continue to take price higher. However, those previous corrections in price had shown to respect an observable trend line acting as support while the most recent correction in price has dipped below this level of support and confirmed it to be a level of resistance. It'll be interesting to see how this plays out since the last time we saw this trend act as resistance was soon after the 'covid lows' and continued resistance could give "bears" enough attrition from the "bulls" to help tilt the balance of the market. Note: when referring to bulls and bears I am simply referring to the overall balance of the market, primarily based from structure, rather than any groups of traders or the direct intentions of those traders. Relevant Symbols: ES1! AMEX:SPY SP:SPX
CME_MINI:ES1!
by Rhythmic
TSM looking to complete Inverted Head and SholdersTSM Looks to be about to complete an Inverted Head and Shoulders pattern on the 4hr time frame. A break of the trend line and hold should be a good entry. A break of 123.50 would be the super safe entry. Neckline to head is roughly 13pts, so the expected move from the neck to completion should be the same which would put our High End Price Target at roughly 134(right near a resistance) with 126.50 being our intial price target. Currently a safe contract would be a June 18 2021 Call, strike dependent on your capital and risk tolerance.
NYSE:TSMLong
by S_dot_Trades
$ABNB could go either way,but leaning to the bull sideNASDAQ:ABNB I has been consolidating in a large range from around 174-214. It tapped the 173.50 support a couple of times last week and may be looking to reverse and head back up to to the upper end of the channel. The confirmation would be the hold of the support while also breaking through the trend line(green), this would also serve as your safe entry. First price target around 186.50, second 198 and ultimate around 210. If looking at options, if the break happens this week, you could play the 190C weekly if you are risky. Or the safer bet is the 190C or 200C for 4/16. A bear case would have the price failing to hold support at 173.50 and continue to fall and hold trend, with targets to the down side of 162.40 and 145.50
NASDAQ:ABNB
by S_dot_Trades