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BTC/USDT UP or DOWN ? WHAT is NEXT!Hello Traders In last post we noticed and evaluated some bearish signs in #BTC. afterward price broke the 51500 resistance but couldn't hold itself above it and then crashed (I believe that was a big trap just like when #BTC broke below 30K!). Right now we are in a crucial zone!!! WHY? Price had been caught between 2 support zones (46500 & 44500) for a few days then broke MA 200 days and in last 3 days despite of upward pushes couldn't go above it (bearish sign). after crash volume is rising (despite of former upward movement). it can be a result of panic selling or a fresh downward momentum(bearish sign). furthermore MA 50 days is getting close to MA 200 days. a cross between them can create #golden cross or #death cross. also we can see weakness in upward momentums. last fake news about litecoin can affect the community and market(might be P&D scheme). Actually I believe we are in "NO TRADE ZONE". But we have 2 scenarios: Scenario #1: Price will get momentum and break above MA200 and resistance zones( green arrows).then we can go higher if price sustain above resistance zones (may be 56K). I assume 20% -35% possibility for this scenario. Scenario #2: Price will get a rejection in 45900-46500 and drop down which means we can go lower(red arrows). in this case we should consider CME GAP in 32000-34600. I assume 65%-80% possibility for this scenario. We just need to be patient. Thanks for reading
Short
by Risky_Call
6
ADAUSD Basic Short Term Trend AnalysisImportant things to note: A bullish trend is confirmed after 2 higher highs and 2 higher lows A bearish trend is confirmed after 2 lower highs and 2 lower lows Price movements must retrace between 30%-60% to be considered Any retracement outside of that range will be ignored A trend is considered "in play" until the confirmation of an opposite trend. OFF TOPIC - BTC looks like it has formed a bullish pennant to me. It is my opinion that it will consolidate before a move. Important Dates to Take Note of: ADA Alonzo (smart contracts) go live Sep 12 2021 ADA Summit Sep 25-26 2021 So right now volume is fairly low so the bulls and the bears are trying to take this opportunity move the price since it is so weak. If you take a look at the ADA 1D, you will not see much because there hasn't been enough days to produce anything worthwhile, the same goes for all of the other longer timeframes. You can consider all of the trends in the larger timeframe being an uptrend. So, we will take a look at the 1H timeframe and I have changed it to a line graph to make it easier to see what I am talking about. At this moment we have a very short term uptrend which was confirmed by 2 higher highs and 2 higher lows. We had one retracement of about 90% which invalidates the movement. ADA will be considered to be in a very short term uptrend until we see a confirmation of a downtrend, it is that simple. The same can be said about a downtrend. Now I know people that use 1 higher high and 1 higher low and vice versa for downtrends, however I follow the traditional form of technical analysis which consists of a signal and then confirmation. Since this is a very short term trend and the fact that there are higher levels of volatility, you can assume this trend will go back and fourth with plenty of invalid retracements. So, now that you know how it works, you can take a look for yourself and follow along. Keep in mind, I believe there is a strong basing pattern which was formed and a quite a bit of consolidation so despite the fact that everyone has a doomsday scenario for ADA and the market in general, I am not convinced at the moment. I really hope this helps you understand how trends work and how to identify them so you are not caught off guard. Like I have said before, trends flip, and sentiment changes very quickly, hopefully this helps you keep up with the changes. I should also note that each trend at a larger timeframe is more powerful than a smaller one. Therefore, if your secular trend, primary trend, intermediate trend, short term trend is considered an uptrend, and the very short term trend is considered a downtrend, the bearish momentum will be very less impactful. It would be like a fish trying to swim upstream. I will continue to keep an eye on ADA and update you on the movements. Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD. Note!!!!!!! Please do not post my charts on other people's posts in order to say they are wrong. People have different opinions and different takes on technical analysis and that is ok. For example, I do not use a lot of technical indicators for crypto, I focus on patterning, trends, and candles. There is no right or wrong way to do this. I have studied it all and I have my own style. I just know what works for me. That being said, I do not want upset analysts coming to my page because someone posted my chart on their page saying they are wrong. I understand why that would bother them, because I would not like it either. Therefore, please refrain from doing so, everyone is entitled to their own opinion and no one is right 100% of the time. If you are not learning everyday you are not growing and that includes me as well. Please respect other analysts with the same respect you show me. Thanks again everyone!
KRAKEN:ADAUSD
by mysticalwalrus
40
GBP USD Setup - 23-08-2021Hi traders, As per the 4hr chart GU is showing downward trend and the hourly chart is also indicating the same. In the 30 Min chart price is in a retracement phase breaking the 23.6 retracement level, So we have marked the Golden zone. Since the higher time frames are in an extension, we have marked the recent lows for a breakout trade. We can also enter a scalping trades in between these zones based on trendline or SMA breaks in the lower TF. Please ensure proper risk management. Happy Trading....
by Hari_krishnan_S_Kumar
Why we are at the bottom (if no big sell off by "weak hands") At 27026.1 we can see RSI dropping down with price dropping to 26563.5$. That’s also level on the volume where it started to rise again. 27.12 is the day with higher volume where the price gets to a certain level and people started to sell because probably didn’t believe we could go higher. 3.September, the date where we get into oversold territory 11. December - People with insider info starting to buy? There is almost no volume, but strength is building. 16 December - More people with „insider info“ because volume started to rise 23 December was some news out? Or people get „Christmas gifts money“ where they spend it. Even more news. More shilling people hopping in. 22. Feb - first sign we could be at the top More believers we could go higher. 14. April - people earned a lot, the strength was already falling 19 May - People realizing there can be bear market I’m expecting just wicks. Late shorters to push price just with wicks into 26500k area, maybe (depends on the strength) to 22k. I think in next week we will find a resolution if bulls have the strength and will, to buy at those levels (26.5k) if not we can visit more lows.
BINANCE:BTCUSD.PLong
by Marrekk
1