BTC closed on the 5th of May with an engulfing candle. Bitcoin won that day, but only just. Also price action currently remains within a larger ascending channel, two touches to the top so far and two touches to the bottom. A third touch of either may well be the break this time. Price action is still trying to move to the upside, for me, the bulls have it at the...
W1 : As shown on this chart, last week price action triggered a long white candle (bullish engulfing)
which neutralized the former downside risk.
In addition BTC closed above the Tenkan-Sen (Conversion line) which is also a positive sign.
The pivot level on this W1 time frame is @ 52'700.
Indeed, as seen in the past, this area coincided at the middle of long...
Most alt coins have had a unprecedented bull run over the last 8 months (as many assests have). So caution always needs to be applied but we can see that the 50 ema has not been violated by any bar closures and we can see strong bullish action on the chart.
With a space between the entry and the next two targets
Structure: Support and Resistance breakout, re-test
Comment: Price has broken out of long standing resistance levels (black line) also retested and confirmed breakout. we now look for DMI confirmation before taking a long until psychological price level of 0.71000.
Also if you want to look into candle stick analysis we see a few bars of...
This is EUR/GBP on the Daily Chart.
We can see price has respected this level of support since May 26th 2020.
Once again price has tanked down to our support level and bulls have been sitting at our support zone - we can see price starting to move away from our key area yet again to the upside.
We can use candlesticks at this key level as extra confirmation -...
NzdJpy is in a general upward trend as demonstrated with my 3 trendines, with that in mind, price has broke through a supply zone which is not a demand zone, price retesting this zone in confluence with the aggressive upward trend and engulfing candlesticks within the zone we can only conclude that price will continue upwards for 139 pips