I have tracked BTC/USD 2014 market movements and correlated them to the current Bitcoin chart, marking possible similarities, resistances & breakouts. The current position of Bitcoin after the recent rally is drawing closer to the upper resistance, so will BTC breakout - fakeout or drop down to the lower resistance - decision time is looming with Bitcoin...
See chart for relevant explanation.
These two levels offer clear markers we can use for context relative to the D1 wedge berak.
The eventual break of A looks great in hindsight, but wasn't a great breakout setup. B provided a much stronger story, and exactly the sort of price action we're looking for ahead of a breakout.
I'm borrowing directly from Bob...
Based on the Triangles Position and how it has already Began the Retest Phase. We are now about to witness a Break out and a Nice Surge to the Top Zone
Price bounce on the strong trend line and create a triangle. Now the price makes a breakout and we can see if the USDCAD still run up!
What you think traders?
Watch for this break out, naturally it should rise a little before continuing the downtrend, but if LTC break below the lower boundary of the triangle, we would have VERY GOOD CHANCE!
let's prepared for this scenario and watch out!
Market did break really important descending trend line. In this projection, the best way to look for buys, would be market going to the 111's demand zone. After bouncing from that level, we are looking for market going upside to this red zone, that I have marked on the chart which is something about 114 price level.
IOTAUSD came to draw a H&S's on the chart during the last couple weeks. If it was to break neckline in the upcoming days, price target is fixed almost to the exact point where 0.77 support lies. Watch out for volume during breakouts, low volume could represent a fake movement either way.
Condition - neckline broken
Cancel figure - price above left shoulder...
Last post: June 1st. See chart .
Review: Price was starting to make new all-time highs and was looking strong.
Update: Price is still looking strong and is currently doing a pullback.
Conclusion: We need to see a breakout of the previous high before considering long trades.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs...
after false break of support @1.33022 the price stable above the support level that it was resistance level before and make higher high and higher low and higher high
so i will buy this pair
buy Gbp/usd
stop lose @1.33022
take profit @1.37157
Hello Traders,
Going to be quick with the intro and summary here as this is a short term play and just shows where you can recognize the breakout points for a short term bull run or short term bear run. Overall Im leaning towards a correction to 8700/8600 ideally, and then an attempt over a mid term time frame to 11,600.
Hope this chart helps you recognize...
It's Cup & Handle Season! There have been multiple cup and handles that have formed all around the altcoin market recently in what I am going to dub as cup and handle season. I'm out hunting for valid cup and handles and while most of them this time around seems like they will eventually be validated....it is easy to get faked out by these patterns and think the...
Two possibilities we can see on the 15 min chart.
1. A triple bottom reverse pattern for the up side.
OR
2. A descending triangle for a break further down.
Open for comments & constructive criticism.
Thanks
We last posted on the GBPCAD on March 23rd when price had pulled back to a pivot support level.
5 days on and we can see there has been little change in price. However, the positive that we can take from this is that this pivot support level is holding strong.
If we look at the structure of the trend from January when priced bounced off the daily 200SMA, we...
Hi, friends.
USDJPY is in down trend. Daily main-balance goes down.
We must to use this possibility and open only sell position.
The longer consolidation was, the further trend will go. So the main target - 100.
But you must remember - if false break out happens and the price will return back into the balance and breaks out level 109.25 you need to close position...
not a good sign to see what appeared like it was going to be a bullish breakout of the bear flag not get a follow up confirmation candle and instead turn into a fakeout falling well back under the bearflgs closest red trendline...I thought it may be breakind down under the bearflag too but now the current 1 hr candle is making it appear like the bottom trendline...
This is my first published idea so be kind. Always appreciate feedback.
This is not financial advise, just my thoughts and opinions.
TWE is looking good after a brief period of consolidation around the 17 mark.
It has rising volume and is showing signs of a good move up early next week. Today the price moved well above the recent consolidation zone (see chart)....
