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Ichimokukinkohyo

ETHUSD - 1d chart updateAt the moment ETH is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Bollinger Bands Upper and Lower Bands have not expanded yet indicating there is room for more upwards volatility before becoming over extended on this 1d timeframe. ETH is also back above its Least Squares Moving Average LSMA for this 1d timeframe. ETH is in a Schiff Pitchfork Pattern (A,B,C). Note that ETH is above its Schiff Pitchfork Median Line and also above the Schiff Pitchfork Upper Yellow Support Line. At the moment ETH has found some resistance from its Upper Yellow Schiff Pitchfork Resistance Line. ETH is in a Rising Wedge patter. A Rising Wedge pattern is a potential Bearish pattern. To invalidate this rising wedge ETH will need to close above the top Ascending Trend-line of the Rising Wedge pattern. ETH is also in a Descending Channel which could turn out to be a Bull Flag. ETH needs to close a daily candle above the Descending Trend-line of the Descending Channel. At the moment ETH is above its Volume Profile Fixed Range Point of Control, for the fixed range of 7x 1d candles that i have selected. ETH is still above its Volume Profile Visible Range Point of Control for this charts visible range. Volume has increased on this 1d Binance chart and you can see that today’s daily candle will close above its Volume 20 Period MA. Using the Ichimoku Cloud settings of 20,60,120,30 but note I’m only using the cloud portion of the indicator, you can see that ETH is still safely in the Bullish Zone of the Ichimoku Cloud. The Average Directional Index (ADX DI) Is indicating that Positive Momentum has increased with the +DI (Green Line) rising to 13.21 and the Negative Momentum has dropped with the -DI (Red Line) dropping to 15.84. The ADX (Orange Line) has weakened by dropping to 25.80 and note its still below its 9 Period EMA (Black Line) which is at 28.43. Depending on what BTC does, its very likely well see the +DI (Green Line) cross back above the -DI (Red Line) which if it happens, would indicate positive momentum has fully overtaken Negative Momentum on this 1d timeframe. The Moving Average Convergence Divergence (MACD) is indicating that the MACD Line (Blue Line) has reversed upwards and is still in the Positive Zone above the 0.0 Base Line. Depending on what BTC does, we may see the MACD Line (Base Line) cross back above the Signal Line (Orange Line) which would be a massive buy signal for traders who use this indicator on this 1d timeframe especially if the MACD Line (Blue Line) is still in the Positive Zone above the 0.0 Base Line. A daily candle close above the Descending Channel & successful re-test as support will be a very good sign of continued upwards momentum. If that happened then we may get a MACD Line (Blue Line) Signal Line (Orange Line) crossover into a buy signal on this 1d timeframe. Obviously this will all depend on what BTC does tomorrow and over the weekend because as we all know, all other cryptos are rigged by Binance to crash when BTC crashes, it’s how Binance sneakily gets leveraged money back from the long Liquidations...... Probably ;-) Anyway enough of that Binance rant ;-) I hope this is helpful with your trading & hodl-ing. Notes: Rising Wedge = Ascending Converging Dashed Black Lines on Chart Descending Channel = Descending Parallel Dotted Lines on Chart LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Schiff Pitchfork = A,B,C Pattern on Chart Volume Bars = Bars Bottom of Chart Volume 20 MA = Orange Line going through Volume Bars on Chart Ichimoku Cloud = Red and Green Cloud on Chart
BINANCE:ETHUSD
by TradingThroughTheLens
1
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Short
by hamidreza_FX
2
BTC - D1 - REMAINS UNDER DT INFLUENCE !DAILY : DOUBLE TOP IN PROGRESS STILL ALIVE As mentioned in my previous analysis (see related ideas below), the recovery which took place recently was only a corrective move in a broad new bear trend which started @ ATH 69'000. Indeed, the ongoing double top formation is still intact and a daily closing below its trigger level (@ 57'500) would be the first warning signal which would confirm this bearish formation, calling for a target @ 46'000 The clouds, once again worked perfectly well in rejecting the upside breakout and I will strongly suggest to monitor carefully price action around the clouds as failure to hold above the daily clouds will be the second signal calling for further downside and a move towards the psychological 50'000 first, ahead of 46'000 previously mentioned. Look also RSI price action which continue to converge to the downside in being below the 50 level. WEEKLY : LAST WEEK PRICE ACTION TRIGGERED A BEARISH ENGULFING PATTERN ( Long black candle) !!! On this time frame the next significant support is @ 54'295 while on the upside the next important level to look at is @ 60'000. In order to neutralise the ongoing downside price action on this weekly time frame, BTCUSD should recover at least above 62'100 which if occurs, would trigger a "PIERCING LINE PATTERN", which would be seen as a reversal signal in this weekly time frame. IMPORTANT LEVELS TO WATCH ON A WEEKLY BASIS ARE THE FOLLOWING : 54'295 62'100 INTRADAY - 4 HOURS - KIJUN-SEN UNDER ATTACK !!! On the intraday, 4 hours picture, the Kijun-Sen @ 57'368 is under attack and a failure to hold above it on the next closing observation would also be a warning signal for further downside; on short term a move above the MBB, currently @ 58'205 ahead of TS (@ 58'450) would temporary slow the current bearish move and reopen the door for the psychological and important resistance level of 60'000 which should really clearly be broken and if it is the case, that would force to a view reassessment of my still bearish expected scenario already detected a couple days ago. Do you like, the way I work in explaining my views ? If it is the case, please do not forget : 1) to like it 2) to add Ironman8848 in your following list, if it is not done yet :-) 3) write a comment or remark which will be welcome Have a nice trading week and all the best. Take care Ironman8848
GEMINI:BTCUSD
by Ironman8848
BTC - 4hr chart with 2 Pitchforks and a cloudBTC is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe. Note that the Upper Bollinger Band is moving downwards and the Lower Bollinger Band is starting to curve upwards indicating volatility has slowed on this 4hr timeframe. At the moment BTC is back ABOVE its Least Squares Moving Average (LSMA) for this 4hr timeframe. A successful close ABOVE the LSMA is crucial for a recovery. BTC has found support from its support level at around $56,540. BTC has bounced off this level before on the 28th Oct 2021. BTC needs to stay above this support level, failure to do so will prob lead to a drop to the 2 support line at around $52,900. Using the Ichimoku Cloud Settings of 20,60,120,30 but note time only using the cloud portion, we can see that BTC is in the Bearish Zone of the Ichimoku Cloud for this 4hr timeframe. Note that we have had a Cloud (Kumo) Twist, the Leading Span A (Senkou Span A) has crossed back UNDER the Leading Span B (Senkou Span B) creating a new Red Bearish Cloud for this 4hr timeframe. Note that both Leading Spans are pointing downwards at the moment. Volume has increased on this Binance 4hr chart and note that the last 5 Volume Bars have been ABOVE its Volume 20 Period Moving Average. BTC is BELOW its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 5 4hr candles that i have selected. BTC is also BELOW its Volume Profile Visible Range Point of Control (VPVR POC) for this chart’s visible range. BTC has 2 potential Pitchfork directions on this 4hr chart. BTC needs to CLOSE this 4hr candle ABOVE its descending Pitchfork Pattern Median Line (Black A,B,C). If BTC closes above the descending Pitchfork Median Line then we may see BTC follow an upwards or sideways trajectory following the ascending Pitchfork Pattern (Red A,B,C). The Average Directional Index (ADX DI) is showing a strong trend with the ADX (Orange Line) at 38.32 and ABOVE its 9 Period EMA (Black Line) which is at 34.04. The +DI (Green Line) has dropped to 7.71 and the -DI (Red Line) has risen to 31.62 indicating Negative Momentum is stronger than Positive Momentum on this 4hr timeframe. We need the +DI (Green Line) to cross back ABOVE the -DI (Red Line) on this 4hr timeframe for any upwards recovery to hold. The Moving Average Convergence Divergence (MACD) is indicating negative momentum, note that the MACD Line (Blue Line) is BELOW its Signal Line (Orange Line) and is also BELOW its 0.0 Base Line in the Negative Zone. Note that we also have increasing Red Histograms. Even if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) we still need the MACD Line (Blue Line) to cross back over and ABOVE the 0.0 Base Line into the Positive Zone for any longterm BTC recovery to become sustainable. It should be an interesting weekend for BTC. I hope this is helpful with your trading and hodl-ing. Notes: LSMA = Black Squiggly Line on chart. Bollinger Bands = Grey Bands on chart. Support and Resistance Lines = Horizontal Black Dashed Lines on chart. VPFR POC = Short Horizontal Red Line on chart. VPVR POC = Long Horizontal Red Line on chart. Descending Pitchfork = Black A,B,C Pattern on chart. Ascending Pitchfork = Red A,B,C Pattern on chart. Volume MA = Orange Line going through Volume Bars on chart.
BITSTAMP:BTCUSD
by TradingThroughTheLens
2
BTCUSD - D1 - DOUBLE TOP IN PROGRESS !DAILY : The Daily picture is clearly showing a double top formation in progress, its trigger level being @ 57'500; a breakout confirmed of this point would activate this bearish formation in opening the door for a technical target @ 46'000. Global picture is not very encouraging at all; indeed, the BTCUSD, is currently in an ongoing downtrend; meaning in a SELL ON RALLY MODE ! In addition, current level around 60'000 is firstly showing some uncertainty and nervousness; moreover, we are also below the important cluster area (MBB, KS and TS) which should not be underestimated... Of course, the daily clouds area, currently between 58'422 (top of the clouds and also roughly the former intraday low reached yesterday (58'435) and 53'300 should be seen as the first significant support zone on this time frame; please, also note the thickness of the clouds which should also be considered as a strong support to break. On the indicator side, RSI is continuing to converge to the downside and is currently below 50, @ 44.24. Only a clear sustainable recovery above the 63'000 would force to a reassessment view of the expected bearish scenario above mentioned. WEEKLY : Looking briefly at the weekly picture, we can see a "BEARISH ENGULFING PATTERN" in progress, which of course, would be validated only on a weekly basis closing level; in term of support levels, we can see : - S1 @ 57'765 (warning !double top trigger level @ 57'500) see above for implication - S2 @ 54'295 (also TS) - S3 @ 50'824 Global weekly picture remains supported by respectively the Mid Bollinger Band (currently @ 50'000) ahead of both KS and the uptrend support line (currently @ 48'900) 4 HOURS : Ongoing downtrend channel (mentioned in my previous analysis) remains intact and current level is below the middle level of this downtrend channe, on the lower part and traded around the Tenkan-Sen @ 59'812 Sideways price action for the Lagging Line which is also below the clouds... As mentioned yesterday, no Bullish divergence has been detected yet and recent and current price action should still be seen as a corrective move only and not yet as a trend reversal yet. CONCLUSION : Monitor and watch closely at the price action on intraday shorter time frames to detect early signal (s) of bullish divergence or bearish convergence !!! Have a nice trading day and all the best to all of you. Take care. Ironman8848
GEMINI:BTCUSD
by Ironman8848
1