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Retracement

BTC Daily Update 6 June 2021Based on BTC daily chart, it is still consolidating between $33k to $39k range. Usually, the longer the consolidation, the bigger the next move will be. Based on Bollinger Band indicator, the squeeze of it is so tight where it validates my first statement. The next downtrend move may find support in one of the 4 strong support accordingly. If first support lose, it will go to the next support. Furthermore, Stochastic RSI is already in the downtrend movement which indicates that a retracement is imminent unless BTC is able to break the Bollinger Band basis line and stay above it. Until then retracement will happen around the corner.
by CryptoSpaceMy
Go for the Gold and go long.You can see that gold took a very big down move today. I think this is a retrace and not a trend. So I think this is where you can buy gold on sale. You can see that gold price now in gray rectangle and has broken out of the parallel channel. Also look at gray rectangle and you can tell that top is a support and my bottom is demand zone. Once below my demand zone then I think my theory of going up more is wrong. This is the opposite of normal conservative and aggressive entry. You can see that conservative is more profit goal, but less chance of entry (and because of this less chance of any loss = conservative entry). Aggressive entry is lower target more chance of entry (and because of this more chance for loss = aggressive entry). I have not taken entry yet because I don’t know yet what kind of entry I want. I am going to sit on my entry for a couple of hours and see what I feel. I change to black, white, grey and yellow chart because I am color blind and I easily mix up other colors. Lots of Irish people are for some reason. Sorry for the dull colors! Let me know what you think and I love thumbs up and comments! ❤️ Ms Bunny. See my other long gold strategy. It worked out good! (See link below)
COMEX:GC1!Long
by UnknownUnicorn11430563
8
BTCUSDT Ready for a Second WaveHello traders! As we witnessed a 53% drop in the first wave of selling Bitcoin and after that, we can see a retracement to 40k which is about 33.33% rise from the bottom and it is now ready to start the second wave which will hit the 20k price which is about 50% retracement from 40k price. Don't expect a sudden rise in price after the 20k price. The market will bear selling pressure this whole year and Bears will remain in control of this Market. Once the market moves down I will give you the exact point of drop ends. DON'T forget to hit the like button and follow to stay connected. I analyzed and predicted a drop to 20k on 3rd May when the price was at 57k price. At that time it was not feeling well but now it looks like it gonna happen.
Short
by Aadil1000x
13
BTC/USD - Will Price Retrace to Neckline?So a couple months back a colleague and I joked about how technically, BTC's price should see some kind of huge pullback and retest its neckline area. With how much crypto has grown in previous years and seeing what kind of potentials it has moving forward, it was just kind of hard to believe that price would ever have that drastic of a pullback. Well here we are today and now seeing BTC not being able to catch any kind of support and it just goes on to make me wonder. Anyways, personally, I'm a bullish trader when it comes to the crypto market and I'm currently sitting on the sidelines waiting for price action to give me a sign that it's time to reinvest. I truly do believe that the growth that we have seen in the crypto market since March of last year is just the beginning of a massive bull run and that in years down "Crypto" will be added to the list of "Investments of the Decade". As far as which coins make it, let's put it this way. Between CoinGeeko and CoinMarketCop there are between 7500-10,000 "legitimate" crypto currencies on record. Even if 99.5% of these cryptos were to die off by the end of the decade, you would still be left with 375-500 different cryptocurrencies. In conclusion, I personally still don't believe BTC's price would ever fall to this level, I just thought it would be an idea that someone else out there might enjoy thinking about. Until next time.
BITSTAMP:BTCUSD
by Trump4FxPresident
BTC Major Resistance!Hello Community! BTC /USDT is currently attempting to move above the major S/R zone (white line) shown on the chart. We need to close above this line on the 4hr or Daily TF for this bullish momentum to continue. If entering a trade don't forget to use a stop loss. Don't trade with what you're not willing to lose. Love it or hate it, hit that thumbs up and comment. It'll be greatly appreciated! This is not financial advice. Safe Trading Calculate Your Risk/Reward & Collect! Simplicity Wins
BITFINEX:BTCUSD
by rnaofs
2
XRP Has Finally Decoupled From BTC - Next Target $5 Very LikelyToday was very likely the final day for btc correction forming some kind of a W bottom. Looking at the market, everything was red ...except XRP. It was also when, just before the final btc crash xrp pumped 11-15%. It did hold above $1.30 as btc and other market was crashing today. On the chart we can see that the fib. extension has been very well respected in the past 3 months. We can see that after the initial breakout period an abvious crash comes, followed by retrace of price that takes us roughly to a 0.702 - 0.786 level. The final phase is reaccumulation period that usually uncomfortable and boring till that clear breakout comes again. Fib. extension on a 1st of Feb pump and dump took us to a roughly $1.8 - $2 and was very well respected. If we now use the same fib extension over the recent local top and bottom, we get to the same level as 4,236 fib. extension (2nd Feb.- 14th April) would take us, and that is $4.9-$5.3 area. I don't belive that is expected area is the top yet, but it is where we could expect this pattern to repeat itself for the final time (3 phases), before with a breakout to a $8-$10 I am not a financial advisor and non of this should be taken as a financial advise. Be well. BITSTAMP:XRPUSD
BITSTAMP:XRPUSDLong
by AVA37
QQQ holding last trend lineOBV divergence signaled a potential correction, as price were making higher highs, OBV was making a lower high. On the plus side, we are making higher lows since march lows. There is a resistance trend line that is still holding, and is now coincident with the 61.8% Fibonacci retracement line. A buy with a stop below the trend line has worked great the last 3 consecutive times it tested. If we do keep selling off, I expect the next place we could pause at the $298 level, just below the 200sma.
NASDAQ:QQQLong
by dorfmanmaster
EURGBP Short Position (05-11-21 at 9 PM)Price breached a clear diagonal support area on the 1h EURGBP chart. Here are the entry qualifications that convinced me to take a short position: 1.) Price seemed to have retraced to and confirmed the former support area as a resistance area 2.) A bearish engulfing candle had formed within the new resistance area 3.) Price breached the 8 EMA with a strong bearish move 4.) Price was still making LHs and LLs My TP area will be a little before the next psychological level of 0.85500, which I think it will hit during wither the London or New York session.
Short
by GizzoFX
BTCUSDT: Near Retracement levelHello traders! BTCUSD moved to the retracement level as predicted and it is the test area of breakout and a 0.618 Fibonacci level. Now it's time for BTC to break the low of the previous drop. In long term i am expecting market to hit the 42K level, i am predicting step by step so that the traders must be already prepared for future moves. Till the 42k target, BTC will give many bulls and bear moves so we are not only bearish we will also buy when bulls want to jump in. Hit the like button to support the idea ad follow to stay connected.
Short
by Aadil1000x
5
ADA Stay Bullish- its only 2021Taking advantage of buying majority discounts over the past year or so and I must say no matter what hype major coins received it was only to draw attention away from these smaller cap currencies/coins/tokens as the make milestone bounds one after the other. How ever it is smart to expect major pullbacks as traction continues to build as market caps continue to make higher highs. Be mindful some of the worlds top 1% percent still have yet to make major serious purchases into the market yet. a huge pump at some point this year but once again thats likely after a strong pullback somewhere near or above $2 linked below is a previous setup ....
Long
by Explicit-Mentoring