Descending triangles can be recognised by drawing trendlines, in this case we can see lower highs and a support baseline at the bottom.
This from my perspective looks like the bears are in control, pushing the price down and re-testing the support.
Every time the support gets tested, it get's weaker, so to me descending triangles strongly indicate a continuation...
Here's the setup:
- Drawn support / resistance levels on the chart (30m is green, 1h is yellow, 4h is orange, daily is red) The darker the colour, the more potent the level is.
- Black dotted channel is the bear channel, I've extended this to show how the price action movement should look like in the next couple of days, should we stay inside this channel.
-...
Here's the setup:
- Drawn support / resistance levels on the chart (30m is green, 1h is yellow, 4h is orange, daily is red) The darker the colour, the more potent the level is.
- Black dotted channel is the bear channel, I've extended this to show how the price action movement should look like in the next couple of days, should we stay inside this channel.
So...
- Redrawn the support and resistances based on the recent changes on the price action ( 30m is green, 1h is yellow, 4h is orange, 1d is red ). The darker the colour, the more potent the level
- Extended the bear channel ( dotted line ) to see how the next couple of days would look like and would need to break to see a bullish trend.
- Drawn a chart pattern for an...
So last time I prepared for a movement either bullish or bearish, and this time it seems the bear won and triggered my short!
In a perfect world, the price from here should keep heading down, following the channel downwards, but we gotta prepare for an invalidation too.
Here's the game plan:
1. Aim to take profit just above the lower channel to make sure we...
I've redrawn my supports and resistance on litecoin:
- Red line is drawn on daily
- Orange line is from four hour
- Yellow line is from hourly
- Green is from 30M
So essentially the darker the line, the more potent it is.
Additionally I've used RSI, MACD and EMA lines to determine velocity based on previous candles.
I've drawn the bearish channel (black dotted...
I've started this idea by drawing support/resistance levels on the LTC chart and colour coded them based on the resolution:
Day = Red line
4H = Orange
1H = Yellow
30M = Green
Basically the darker the level is, the more potent it is.
For now I can see a downward channel on Litecoin and if the trend continues to favor the bears, there should be a resistance check...
Started using oscillators and multi frame analysis. Observing daily and half hour charts, we are touching both key supports on them. Similarly the Stochastic indicator suggests signs of a trend reversal (crossover) for both timeframes.
If the half hour chart Stochastic confirms, I would enter with a TP level just below the next resistance
Looking at the daily chart for bitcoin (I usually trade on the 15m - 30m charts), although we are bearish in these small timeframes, it looks like we are still bullish overall.
Litecoin on the daily chart is show equilateral triangle signs, so I would prepare for a breakout on either side, an OCO order to catch either the bull or bear movement.
Bitcoin on the 30 minute chart has been bearish for the past couple of days. The the crossover on Stochastic RSI oscillator typically indicates a drop off, it looks like a good time to sell.
Bitcoin on the 30 minute chart is showing bullish signs however the consensus still seems to be bearish, so I would be cautious to FOMO enter now.
I drew up some supports and resistances on the chart, to show a good level to short (which is right below the support level for confirmation).
Drawing a fib retracement on the daily Ripple chart, I can see the candle materialising bang on the 61.8% level. Combined with the recent Binance news which most likely caused the crash, this could be a bullish sign.
Bitcoin on the daily chart seems to showing Double Top signs. The rule of double top says the length of the decline should be the same length as the neckline and and top. Should be a good time to short
