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Key Patterns Of Price ActionKey patterns of price action. Below I will describe several key patterns, but on the diagrams you can see the analysis from a technical point of view. And also please pay attention to the rules, which I do not advise to ignore. The Cup with a handle pattern is formed according to the following logic: - On an upward movement, the bulls cannot push through the next resistance level , a correction begins. It is undesirable that there were impulses during a rollback, a moderate downward movement should be observed; -By basic rules, the bottom of the cup should be formed in the area of correction levels. A deeper rollback is allowed in modified models. In case of a deep correction after entering the market, the position is transferred to breakeven as soon as possible, the probability of the trend continuation is lower, it is better to insure; Double bottom It all starts with the formation of a new low on a downtrend, after which a rollback against the trend occurs. Then, the price goes down again and rests against the previous low. And finally, after pushing off from this level, an upward movement begins, which breaks through the level of the previous local maximum. It is after the breakout of this level (confirmation line) that the final formation of the 'Double Bottom' occurs and you can start buying. The same is with a reversal in an upward market. After the first high, the price should fall by at least 10%. Otherwise, it will mean that the bears are not strong enough. Saucer Let's start with the shape of the figure. Contrary to its name, the correct shape of the 'Saucer' figure rather resembles a bowl. As you can see, the figure is formed by a smooth price movement along a parabolic trajectory. The first half of the figure (the left side of the saucer) is a smooth descent from the edge of the saucer to its bottom. The second half of the figure (the right side of the saucer) is the same smooth rise from the bottom to the edge. Ideally, the second half should be a mirror image of the first. And the bottom should in no case be sharp . The classic 'Saucer' is formed, as a rule, on large timeframes from D1. But you can also find him on H1. Flat base In trading, the term flat means an area on the chart, without a clearly defined direction of price movement, that is, a trend. In other words, flat is the opposite of a trend. Misc Rules -all BP = 10 pips -ideal prior uptrend >30% -for wks abv avg vol: #up>#down -up 20% for new base - undercut base resets base count - 66% or 3rd stage base fails - 80% of 4th stage base fails - in base bottom look for - shakeout - tight closes - volume dryout - accumulation
Education
by DeGRAM
18
Capitulation! Bitcoin Buy #2 filled.Bitcoin bagholders and gamblers are running for the exits again. All are selling at the same time and the price collapsed very fast. Not much new to say. Let's look once again at past examples. A few pictures are worth a few thousand words. Capitulation of "the bull market is back", the price was down 40% in a single day We can put the 1 hour charts side to side: Next, more recently we can look at the big red candle that eliminated the last 2018-2019 permabull survivors. September 2017 The last big bear market At best a mega rally, at worst 1 year to exit the position with a small win? Yes please. Why would this time be different? 2016-2017... You wished you bought at $200. I don't know what this is, but the selling again is very very fast as opposed to the buying & bagholding Even 2011... Each time of course the volume peaked, no point showing it, sometimes a bit sometimes a lot. It's a miracle! Kraken is responding I was able to buy. You might want to wait for the big green reversal candle before buying, or buy some now, and buy more with the green candle.
INDEX:BTCUSDLong
by MrRenev
3
Bottoms upPretty sure this is going to be weekly bottom, daily bottom possibly as well. My previous idea showing a possible wick down to this area played out after a bit of a fake out to the upside. We've been in correction since Feb and this looks to be the final capitulation event. I still think there's going to be a massive blow-off top to come within a few months. People selling today will be racing to get back in within a month or two once ATH is reached, then they'll sell again after the blow-off top with 50%+ drop in a single day.
COINBASE:BTCUSDLong
by RobBiddle
6
Burst 2 Bullish Paths: Bump n'Run Reversal BottomBurst has sucessfully broke the orange trendline (on this one we used the body of the candles). This has already been tested on lower timeframes, however, as the red path line shows, we might retest it again and see the 0.786 fib hold. It's a great buying area. However, since Burst has shown so much strenght, got the retrace to 20 sats (0.318 fib, golden pocket), we might just as well go ahead and break the purple trend line (from the wicks). I'd expect to see the price push and then retest the trendline. If you are not in yet, another safe entry would be that retest. You can check that pattern of bump n'run & reversal bottom has been present on every other altcoin. Burst time is coming. After that, unleash the bulls!
BLong
by Chackoya
Is This the Bottom for Crypto? BULLS ARE STILL IN CONTROL!🚀Looking at the Total Market cap and BTCUSDT here. There's a lot of confluence showing that next week may be a very bullish reversal for all markets. TD9 is flashing buy on both BTC and the Total Market Cap. Retracement levels quite interest on both charts with EMA 100 and 50 being our supports respectively. This may indicate more bullishness for the overall market than for btc. Likewise we can see the total2 marketcap excluding btc, has bounced off the bottom of it's down channel and now has retraced off it's 300 EMA. Additionally, BTC Dominance, though it tried to reverse on the correction, showed very little actual movement. However it did allow the TD9 to reset completely! Allowing us a full downtrend from here still if we wanted. This implies a heavy bullish bias towards alts! Which is great for us - as if this seeming support level fails it's like a straight bomb down to the bottom. Overall, The confluence of these signs of the various chart throughout the market points to this week being extremely bullish, which is deserved after the past week and a half of Bearish downtrend.
Long
by cryptosince1963
4
Bitcoin likely to bottom around 44k.Hi there, Here is my analysis on the current bitcoin situation: The 21week moving average has proven to be a good indicator for finding the bottom in previous bull runs. I think this time will be no exception and we are probably heading for it. The 21week moving average currently lies around 43-44k. Next to that there is a also rising wedge pattern playing out. The target of this rising wedge can be calculated by measuring the height of the wedge: The 42/44k range. Finally, by looking at the RSi we can see that its starting to hit the oversold condition, this can also signal that a reversal is near. Thanks for reading, and if you like this analysis you can give it a thumbs up. Thank you :) Greetings.
BITSTAMP:BTCUSDLong
by CivilisedWolf
Wyckoff Accumulation also appearing in price action now As shared earlier, the RSI(!) showed a Wyckoff Accumulation pattern. After recent price action, it seems that also the PA is following along. Major FA-events occured lately, and a good subscription could force a "buy the rumor, sell the news event", driving prices back down to the huge volume-defined base - holding this area, would strongly increase the theory of the bottom being in, after a semi-long period of accumulation. Sentiment is slowly turning positive, many are still doubtful, so a surge before the subscription period ends, could cause some Fomo-buys, who will soon after provide liquidity as they panic sell (unknowingly) at a possible Wyckoff Test area after a Spring. Still very new into Wyckoff, so take all this with a grain of salt.
OLong
by Veuvee
MFTUSDT BuyHello traders! MFT is at the bottom of the channel and it has formed descending Broadening wedge pattern and it is ready to give Breakout. After the breakout, it will touch the high of this channel and I am expecting more than that. Traders can take their profit at the peak of the channel with 100% gains but after the breakout, it will be unstoppable and will shoot to the sky with up to 200% @ 0.06+ target. Don't forget to hit the like button and follow to stay connected.
MLong
by Aadil1000x
13
CL > opportunity for large gain over a short time periodOil is showing a classic rectangle bottom. This is a pattern at the end of a down trend. The criteria are. That one of the horizontal lines needs to be touched 3 times and the other 2 times. This fulfills the criteria. Rectangle bottoms can break out in either direction. Be prepared to take a short or long position on candle close (in this case a 4h candle.) Rectangle bottoms do even better when the volume goes down as the rectangle moves to the right. This seems to be the case here. You can also trade this by going short when price touches the upper line and buy when it touches the lower line. You can see the potential targets and they are substantial. Though I would decrease my position as it approaches the target and pocket some profits along the way. Please like and follow if this has been helpful. Ms Bunny
NYMEX:CL1!
by UnknownUnicorn11430563
17