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Weeklycandles

Link breaking above last potential top trendline of triangleIt’s still unclear whether or not link’s macro pattern is more valid as a falling wedge or a symmetrical triangle, however it seems now that we are finally closing daily candles above the last potential top trendline for that pattern. That trendline is most valid on the weekly chart so we still need to close the current weekly candle above the white trendline..after that we should see the follow up weekly candle confirm the white trendline as support on a retest ….if the follow up weekly candle closes above the white trendline odds are very good at that point the breakout will be validated…it may wait until the 3rd weekly candle to start the bullish impulse…or it could come as early as the current weekly candle…will have to see how the next few weekly candles play out. I chose to show this chart on the daily time frame instead of the weekly to illustrate how price action is also now back above both the 1 day 50 and 200 moving averages. If it can hold the daily 200ma as support during the next few weekly closes then the breakout will be confirmed. *not financial advice*
COINBASE:LINKUSD
by DrDovetail
Make it or break it for Bitcoin? Make it or break it? Bitcoin will close the weekly candle within two hours. Closing the week below the 0.618 Fib ($ 20.200,-) is not convincing and shows in my opinion weakness for maintaining these price levels. Even $14k is then a possibility; it's the 0.786 Fibonacci retracement level. An hour ago, Bitcoin made its first attempt to break the 20k level. Volume is pretty low, though, so that doesn't look good for the bulls. I expect quite a bit of volatility over the next two hours. Regardless of the low volume, I am still confident that the 0.618 fib is the bottom and a trend reversal is about to occur. It's time for the bulls to roar; my target is $126.000,-. It is the 1.382 Fibonacci extension. Time will tell if we'll see $14k first, though.
BITSTAMP:BTCUSD
by joerivdpol
1
Silver Yearly Resistance|Market Structure|Price Action|S/R FlipEvening traders, Today’s analysis – SILVER- breaching a key technical level, price acceptance will increase bullish bias. Points to consider, - Macro Resistance - S/R Flip for validation - Market Structure (higher high needed) - RSI above 50 (not overbought) - Stochastics overextended - Retest long entry Silver has breached a key level, breaking yearly resistance with conviction. Back testing this level will solidify it as support allowing for a long entry with defined risk. Silver needs to take out the recent swing high (red line), this will establish a higher high, first sign of a probable trend change. The RSI is above 50, not overbought whilst the stochastics is trading in the upper regions. This suggests there is still further momentum stored to the upside. Furthermore, candle closes above macro yearly resistance will show price strength, taking out highs will be bullish. Overall, in my opinion, a long trade is valid upon an S/R Flip retest at yearly resistance. holding this will make the immediate target, weekly resistance. What are your thoughts? Thank you for following my work! And remember, “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.” ― Yvan Byeajee,
TVC:SILVERLong
by AzizKhanZamani
2