Btctrading
BTC/USDT Possible region to buy in the 10k, can you believe it?Who knows?
Possible region to buy in the 10k, can you believe it? I don't, who's saying it's the graphic!
- Formation of 3 symmetrical parallel channels;
- Descending wedge;
- ABC;
- C with 5 waves;
- Possible pullback in the region of 29k (0.5 Fibo);
- Target 1, 0.236 fibo - US$ 13841.00;
- Target 2, 0.500 fibo - US$ 10600.00;
This is just my study for me to keep and remember later.
This is not an investment recommendation.
UPDATE: THE FUTURE OF BITCOINBTC USDT | 4H TF :
Summary Of Movement Since Last Analysis
We broke above the Weak Trend line ( see the chart image ). Traded above it for a while, then
BTC dropped down to Retest the weak line , but It held up as support
Bounced again off the weak trend mark and hit the Strong Trend mark line( see chart image )
Latest Movement:
Though rejected here sharply at 41k , it continues poke this mark, currently maintaining 41k price range .
A comfortable break of this level and stable stay above this level is bullish for me .
It Means we are back in the strong trend channel.
We sincerely sympathize with Ukraine at this time, but Crypto/ BTC is impacting Ukraine for good and in turn impacting bitcoin too.
Also a good time to breathe for the altcoins.
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Check Out Previous Analysis Here
Daily BTC Update - RSI Divergence and ADX as a Trading StrategyBTC, and the crypto market in general, have once again seen some steep declines. Legacy pricing models haven't broken but are being stretched like never before and I'm convinced it's entirely due to the arrival of institutions and big money to this space. Legacy markets (stock market etc) are closely regulated for price manipulation and financial institutions are regularly fined millions of dollars for breaches (and yet it continues to happen). The crypto market doesn't have this protection. Passed cycles have not had such a major presence of "big finance" and so it is highly likely the landscape has changed and we need to change with it. Short term/day traders are getting smashed by this volatility and market manipulation and our only defence is to step back and take a longer view because even the big players want to make money over a longer period.
With all of this in mind today I'm zooming out a bit and looking at the daily chart for Bitcoin and offering a no-fuss strategy for trading this market. Even smart money cant play without leaving a trace of their actions.
On the chart are my two favourite indicators...the RSI and the ADX. If you use these in combination you have a very powerful insight into where the market is likely to go next. Understand these two things:
1. ADX - Buyers need to be stronger than sellers for the price to go up. We need to see green!
2. RSI - Is a trend indicator. Where is it trending? Is it going up or down? Most importantly look for a divergence to identify when trends are about to change.
I've marked on the chart in bright pink divergences between price and RSI and these are at almost all of the major trend changes. Why couldn't you see what was coming...because we weren't looking.
Use basic trend lines to define the market structure. Note the breach of any trend line.
Sell when the ADX turns red, or when the RSI drops below 50% (goes red on my RSI DIv indicator, but you can use a standard RSI Indicator). I use the OBV indicator for confirmation of a signal.
Buy when ADX turns green, or when the RSI rises above 50%. Use OBV for confirmation.
As for today, we are out of the market. I watch the 4 hr chart for early indications that we are getting a change of trend, and of course, if you are sharp enough you can trade this same strategy on that chart but it requires more attention. Have fun with this strategy and tell me what you think. Once you've had a play try using the Multi Time Frame RSI for better (earlier) signals.
BTC Nearing a BreakoutBTC has been going through a rocky ride, especially in the last few weeks. There has been a consistent resistance at certain levels (top two trendlines) and the region between the two is the Area Of Value (AOV). For those who may not know what AOV is, it is the region where you can expect to make perfect entries.
For now, BTC has run its course and has arrived to a point where the price action has no other way to go except to breakout. Whether it goes up or down depends on the next few days. Expect a breakout by Sunday or Monday. Be sure to cash in. I will update you as I get more signals or patterns that may indicate where the price will go. My guess? It would take a dip!
Polkadot Price AnalysisThe four-hour chart shows that a rising trend line has capped the price since the middle of August. The trend has been a constant source of rejection for the price and the catalyst for last week’s technical reversal. Furthermore, the trend which is currently seen at $39.00, proved the high for the last two days.
Therefore, as long as Polkadot stays below the trend line, a correction is possible. In that event, some obvious downside targets emerge. A rising trend line at $34.00 from last week's low is the first support level. Below that, the 21st of August high around $29.50 offers the next level of support. However, if the Polkadot price manages to clear $39.00 an extension to the $42.00-$45.00 is probable. Furthermore, above $45.00 and the all-time high of $49.77 could be under threat.
Feel free and get in touch for more ideas and trade signals
BTC $30,000 a very real Possibility I've highlighted the Resistance lines in Yellow to make them more visible. We've got support at $37,300 which we could see either a sideways consolidation through the month or create a Head & Shoulders.
Which would cause us to break the $37,300 support line & drop down to the previous low of $30,000 as we head into November.
There is a chance to bounce off of the 50 EMA & break the $48,000 resistance followed by a retest & Bullish momentum.
It's going to be a wild month of September, with the Legislation, Mass Adoption & the NFT space. Once we are able to break out of this Bearish Wedge the whole market is going to Moon, it's just a matter of when?