Hello,
Trade identification is the process through which you are able to identify setups that can be actioned on in the markets. For this example, I shall be using the BTCUSD chart to chant my path as I look for tradeable setups.
1: Structure drawing
Identifying the structure of trades is very key since it creates a sense of knowing where the market is at from...
Welcome, traders and investors, to our educational post on ascending and descending triangles!
In the fast-paced world of financial markets, understanding chart patterns like these is crucial for making informed trading decisions. Ascending and descending triangles are powerful tools that provide valuable insights into market dynamics and potential price...
BINANCE:BTCUSDT has been showing bullish prospects all week and has been consolidating above key zones, preparing to go higher, but on Friday the market changed to bearish and there is a reason for that.
BTC lost 3.3% on Friday and is currently painting a bearish picture. There are two reasons for this:
Inflation related news, basically proving that...
➖ Last week Bitcoin produced what appears to be a bullish candlestick pattern, which is good. This week, a negation happens and prices move to trade and close below EMA10.
➖ The rejection (bearish close) right after the recovery (bullish close) results in a "failed signal," these failed signals are stronger than a common signal.
➖ Bearish volume rose to hit its...
Bitcoin looks very strong at this moment. We can see that the price is breaking out of the descending parallel channel on the daily chart. The price is above the channel and has already retested the downward-sloping trendline. We should see a strong pump from the current price.
Why is bitcoin pumping? From a technical perspective, it's pretty easy to say. Take a...
Bitcoin continues to hold the 60k levels, and by the weekly candles, any and all dips are being bought up.
However the market does not feel over exuberant and so in my opinion there is room to run here.
The next level of importance is around 92-95k, so for me I am slowly stepping in for the next move to the 90's.
Any move into the mid to low 50's is an area...
Bitcoin (BTCUSD) broke again below the 1D MA100 (green trend-line) after the 3rd rejection on the 1D MA50 (blue trend-line) in almost 1 month (since the April 13 bearish break-out). If it stays unbroken, it is a far from ideal development as the 1-year price action has shown us that such a pattern risks making a Lower Low.
The technical structure since April 08...
in 1D chart BTC is still consolidating in falling wedge pattern...breaking out the upper side make btc trading above the green rectangular and it's just a matter of time to habben.
Green rectangular is a most important zone in this chart...it represents
a neck line of the inverse H&S pattern , 0.5 fib level , POC line , 50EMA
4 massive resistance in daily chart...
Yesterday I said that if the Bitcoin price cannot break through 63450, it will fall back. However, today the fallback is larger, with the lowest point reaching around 61450. The price currently encounters downward resistance above 61450. If the price breaks above 61850 again, the upward trend will continue. If the price falls below 60800, then the uptrend will...
As mentioned in previous analysis, I believe the breaking of 60K to be important for BTC.
If it is important, we'd be in a bull trap now.
Currently we have to classic 76 retracement along with a butterfly correction pattern.
Trying a fairly large short on BTC now. Expressed through shorts on BTC directly, OTM puts on COIN and OTM puts on MSTR.
If the break...
Yesterday I said that if the Bitcoin price breaks through 61800, the downward trend may be reversed in the short term. Yesterday the price broke through 61800 and then fell back to 61800 and continued to rise. The highest point was close to 63900. The price is currently correcting.
Judging from the 60-minute chart, the price has stood above the 20-day and 50-day...
Judging from the 120-minute chart, the 10-day moving average and the 20-day moving average form a dead cross, with the two moving averages running parallel downwards, and the MACD indicator is also below the 0 axis, which is an obvious short trend. In addition, the price is falling along the 10-day moving average, and the current thinking is still...
Last Friday, the price fell to around 61,700 and then rebounded upward. The highest point was near 61,450. Then it fell to around 60,600 and rebounded upward, and broke through 61,000 again. Generally speaking, the current market is volatile and has no obvious direction. We can focus on the 61450 resistance level and the 60600 support level.
Trading strategy 1:...
Judging from the daily chart, yesterday's closing was a big negative line, which reversed the positive line the day before yesterday. In addition, the price rebounded to the 20-day line and then fell rapidly. This shows that the current price will continue the downward trend. Although the price is currently in a rebound stage, as long as the price does not exceed...
Bitcoin (BTCUSD) is trading within the Rally Channel (green) with the price having already reached its bottom, making the 2nd Higher Low of the pattern. This is the very same pattern that emerged in the previous Cycle after the Growth Channel Up and took BTC to its new All Time High (ATH) at the time.
Both Growth Channels had a crash event below them, the...
Bitcoin has found overall support just off the 56K level (on my chart) and has rallied back to the 64K resistance only to retest the 60K level (see illustration on chart). This is the scenario I described in my previous article and price is now in an ideal location for a swing trade long on this time frame. Interestingly enough, my Trade Scanner Pro system...
Fib Retracement with an interesting smart money contraction. Trend line points parallel upwards to wear the smart money contraction, horizontal red dotted line.
If there’s a breakout then the 2MO TF BEARS loose. Stoch RSI will confirm it by bull trend must cross the bear trend making a curve to the upside.
No price range, not possible. If there’s spoofing...
What is a "danger zone" and how do we determine if Bitcoin is in a situation to either crash or move higher?
The "danger zone" we've been hearing about is a time based fractal of past history. The 2023 bullish wave and 2024 new All-Time High shatters all time related predictions based on past history. Since we have completely different timing this time around...
![BTCUSD: [BTCUSD] - the most important resistance in 1D chart](https://s3.tradingview.com/a/AsmrxA1I_mid.png "[BTCUSD] - the most important resistance in 1D chart")
