Quite simple setup. Close my leveraged positions on the weekly level around $29,850, accumulate on the short term trend line. I don't care what will happen at the end of the triangle right now, but I'll be prepared.
Bitcoin is always giving us the perfect examples to illustrate any Technical Analysis book. In the last few days, the price it’s been reacting with S/R levels, long term downtrend and fib, short time frame MAs, pivots, and the list goes on and on. Take a look at this recent example on the 15min. time frame, and how the plays with Fibs, with two perfect touches...
After breaking the raising wedge, FTM landed in a no man's land, between daily and monthly S/R. Sentiment is bearish at the moment, and while RSI points to "oversold", MACD is bearish, 8/21 EMA crossed into the bearish zone and candles are well below the 8EMA, with a monthly support at 0.242 crying for a touch. On a positive note, 50 MA is about to cross the 100...
AVAX price is moving within a symmetrical triangle that so far has been providing strong resistance and support levels. At the time of writing this idea, AVAX just tested the resistance at the bottom of the triangle and still holds, despite the negative price action still going on for BTC and the general market trend. It’s still unclear if this support will...
Ethereum finds itself at a very interesting place right now. Confluence between the ascending triangle diagonal, and the 0.5 fib. A rebound from here could continue the triangle pattern, and give us hope for a reversal by the end of this week. This is a key level for investors who currently have a short open. Keep your eyes on the chart and look for confirmation...