The last time we analysed Bitcoin, we were anticipating a push up from the 30K level as it previously acted as the impulse generation point.
We now have that push and were approaching a key level where we may see some resistance. The important level to watch now is the 42K level where we have the correction resistance and previous structure. If we break that...
Cardano recently had a triple bottom reversal. We appear to be in a parabolic trend which is setting up for a big move. For confirmation we Weill be looking for a break of the parabolic trend to the upside and a retest of a structure level.
We will be targeting the all time highs once we break.
In our last Ethereum analysis, we were short from the break of ascending correction back to the bottom - raw gains of almost 25%!
We saw a triple bottom chart pattern which is a highly probable bearish to bullish reversal pattern. We are now approaching a very interesting level where we can look to add another buy position.
At the 2400 level, price converges...
ANKRUSDT has been in a descending channel since late February. It appears to be respecting the channel as we've seen rejections on both extremes of the channel.
Recently we've seen a double bottom which is often a reversal pattern. This could indicate that we may be breaking out very soon. Watching this one closely to see if we can break the structure level and channel.
In our previous analysis, we were looking at the bottom for a reversal back to the upside. We have now broken the descending trendline indicating that we are now bullish, even if its only for the short term.
The next area of interest we are looking at is the 146 where we have previous structure. If we break through that level, we will be looking for a retest to...
Matic was in a bearish correction since the massive spike in May. We have recently broken out of the descending trendline indicating that we are in bullish territory now.
Watch for price to break the 1.20 level and get in on the retest. We have previous structure and the ascending trendline converging at that point, making it a high probability area to go long.
Price broke out of the ascending correction and made an ABC correction and now we are about to move down.
On lower timeframe we're waiting for a retest of a minor structure level before moving down.
Goodluck and trade safe!
Why are we entering?
- Price is at channel support
- We have previous structure at the channel support area
- We are expecting EUR to strengthen for the short to medium term
What are we waiting for to happen?
- Waiting for one 4H candle to signal bullish pressure
- EUR index to reject structure level
What is our confirmation?
- 4H bullish candle
Dogecoin is also at a very important level. We are at the triple bottom level where the next moves will dictate whether we will see Dogecoin go to the moon or flop back to the bottom.
Wait to see how price reacts. If it breaks above the descending trendline, we could see it move up. If it breaks below, we could be revisiting the lows from last year.
The general rule has always been: The bigger the correction, the bigger the impulse. Ethereum broke out of the massive bull run we had recently and is giving us a bigger and deeper correction.
There are a few places where we can look for price reversal.
First area is the $2650 where we have previous structure.
Second area is where we have the Major trendline and...
Once you zoom out, you can see exactly how price is moving. We can see that price revisited the highs of the 2018 and couldn't push any higher.
We reached that area in a an ascending wedge which is often a reversal pattern.
Looking for bear flags to take this down!
Goodluck and trade safe.
From our last analysis, we managed to get in on a buy after the retest. Price seems to be straggling along. There isn't any clear direction at the moment so we can just trade this for the short term via breaks of trendlines and pattern.
Once we see a break of the correction we're in, we can enter with stops above the correction. Targeting the lows of 1750.
In our last Bitcoin Analysis. we were signalling that we may see a breakout soon. Since that post, we got a massive 30% breakout!
Retracement Long Scenario:
Watch for price to retrace back to the 36K level where we have previous structure. Entry on breakout of the retracement correction.
Continuation Long Scenario:
Watch for price to break the 41K level and get...
Gold is approaching a key level where we will be looking for key price action to tell us whether we can sell back down to the major trendline.
Will be looking for bearish price action at the 1845 level.
Goodluck and trade safe!
Looking nice here, we have a nice BOS now with some good mometum on the LTF, for a risk free trade as 5% has been banked from my previous call and 5% is still running, will update to see how price plays out
NZDJPY approaching a key reversal area. We're in a series of impulse and corrections. Expecting the next impulse very soon.
We're expecting JPY strength = NZDJPY SHORT.
Broke this down completely in the VIP . Have a look at the links below.
Goodluck and trade safe!
USDCAD is approaching the ascending trendline where we will be looking to go long. We are expecting CAD weakness for various reasons and so this would push USDCAD up.
This pair has a LOT of room to move up, FIRST TP is 500pips.
Check out the VIP for educational and in-depth analysis!
As always, Goodluck and trade safe!