Bitcoin is currently trading in a range between 30 and 40k USD. We predicted this some time ago, as well as the strong bounce off 30k. Where will price head next? There is plenty to be bullish about in crypto right now, investors are clearly looking to long BTC anywhere below 35k. Will we finally see a break above, or further choppy movement?
Have a great trading day.
Similar idea to yesterday.. the price is still in the daily range, looking to play it up to the mid/high end of the range.. I am considering that there is high impact news today for both the Pound and Dollar which will most likely bring volume to the market.
Will try to extend this into an intraday position.
Price is at the bottom end of the range, looking for EU/pre London session to take a quick dip to create support and take a buy to the next levels above... Will also consider sells as a breakout of the range trade if anymore negative brexit news comes out.
As depicted by the chart I have created, BTC finds itself in 3 macro trading ranges.
Each range should be approcahed differently.
BTC is currently entering the oversold region of the chart, signalling that it is time to accumlate.
BTC's fundamentals remain strong with continuous news of insitutional adoption. Weak hands that sell in the days to come will be...
Bring up a chart! Identify the trend, using trendlines as above to highlight a channel can be useful with this.
Then, identify levels in which price has gravitated towards and bounced from on a consistent basis. You can see three of these key levels in the chart above!
This is simple market structure and can really help you with chart analysis.
First analysis of the week we cover AUD/USD!
Price has been range bound (100 pip range). Will we see a USD resurgence, breakout to the downside of this range and a bearish impulsive move?
This 0.77 level is key and price is approaching out support zone highlighted in this analysis. A potential price forecast has been identified by the red path!
A fair bit of movement considering volume for the bank holiday for the UK, however this was irrelevant due to American fundamentals and news moving the markets today. Seeing that large wick on the 4H chart indicates to me that we will see a correction from todays impulse. Looking to ideally ride it to previous lows from last week.
Here we can see Cable trading in a range, the topside 1.40.
Previously, we've seen price tag and turn at 1.40 with sellers sitting at this whole psychological level!
Often you will find support and resistance levels coinciding with key psychological whole levels in the markets. Do some research and see for yourself!
This pair has fallen around 220 pips since an initial entry was identified.
Price broke this ascending trendline, retraced to a key level in price on the LTF coinciding with trendline rejection with wicks forming to the upside.
Zoom out and you'll see GN is at the top of the range and through cross analysis you can identify that this currency pair is strength vs...
Still in a range, so this is not a very high probability trade, but looks likely to play out, bounce and test the previous lower levels of range. Could even break through but would take most of the profits out at previous lows.
TRADING IDEA --- NOT AT INVESTMENT OPPORTUNITY. PLEASE DO NOT TRADE THESE!
Most information is present on the chart here.
PLTRs long term existence, unique technological products and customer base of high-profile Us Government Agencies all add up to a Value deeply beyond $22.
Its revenue stream has grown over 45% in year 2020, with predictions for the same again in 2021 as PLTR has begun to open its doors to a wider base of customers...
Nicely back above the trend line and back at the range low. If we can claim the range low again, there is a very big chance that we are going to look for the range high again as we will have made a deviation and what we often see after a deviation is that the price is going to look for the other side of the range. Let's go ADA
Bitcoin has dropped 10% in the last 24h. Absolutely no reason to panic! For now, we have taken stops below the range low and closed the candle 4h nicely back in the range. If we can't hold this range I think we will go back into the older range where the demand zone 4h is located.