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SNXUSD hit both the 1D MA50 and MA200. Bullish or bearish?Synthetix (SNXUSD) is testing today both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) following a 6 day rise after a -42.20% decline from the July 14 High. Such a decline was last seen on the May 12 low, where the price rebounded like now but failed to close above the Resistance of the previous Lower High and dropped more to touch the Higher Lows trend-line (bottom) of the 1-year Triangle pattern. As a result we are buying short-term but our target is limited to the 2.6500 Resistance. If it closes a 1D candle above it, we will extend buying to 3.1300 (Resistance 1). If the price closes a 1D candle below the 0.618 Fib (which didn't happen during the June rebound), then we will wait for a lower risk buy near the Higher Lows trend-line again (targets will remain the same). Note that, as with now, there has been a MACD Bullish Cross on both May's and June's price increases. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:SNXUSDLong
by TradingShot
$perp near to range breakoutWhat is range trading? Range trading is an active investing strategy that identifies a range at which the investor buys and sells at over a short period. For example, a stock is trading at $35 and you believe it is going to rise to $40, then trade in a range between $35 and $40 over the next several weeks. You might attempt to range trade it by purchasing the stock at $35, then selling if it rises to $40. You’d repeat this process until you think the stock will no longer trade in this range.
Long
by Crypto-Adda_Official
2
$BTC 1W showing Hidden BullishCRYPTOCAP:BTC 1W showing Hidden Bullish What Is Hidden Divergence? Hidden divergence is created when the price of a cryptocurrency carves a higher low, while the indicator creates a lower low. Typically a hidden divergence can also be categorized by a bullish or bearish hidden divergence. For example, a bullish hidden divergence happens during a correction of an uptrend when the value of an asset makes a higher low. However, the oscillator is still showing a lower low. This usually translates that the bullish trend continuation signals trader to take profit. Bearish hidden divergence, on the other hand, is the opposite. Meaning the value of an asset makes a lower high, but oscillators are showing a higher high. This signals a trend reversal in which a trader should stop loss and sell-off as soon as possible.
BITSTAMP:BTCUSDLong
by Crypto-Adda_Official
$REEF Keep eyes On breakout EURONEXT:REEF Performing Falling wedge in 1D Keep eye on Breakout Falling Wedge The falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern. In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows. Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows. If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips! A good upside target would be the height of the wedge formation.
Long
by Crypto-Adda_Official
BITCOIN The importance of the 1W MA50 for reaching $250k.Bitcoin (BTCUSD) remains under heavy bearish pressure for almost 2 months, making market participants anxious to say the least. In times like this, it is always best not to lose sight of the bigger picture and look for clues on the wider time-frames. This chart is on the 1W time-frame and illustrates a very unique pattern that splits BTC's historic price action into 4 phases that can potentially not only reveal the next cyclical Top but also give us an idea whether the recent correction can endanger the new Bull Cycle or not. This is practically the framework of a previous study we've conducted but we some new updates. ** The Two Phases ** As you see, the Cycles are divided into Bear-to-Bear (blue) and Bull (green) Phases. The Bear-to-Bear begins at the start of the Bear Cycle and ends at the bottom of the next Bear Cycle. The Bull Phase starts on that bottom and ends at the top before the Bear begins. We are currently on the new Bull Phase, which in accordance to the previous Bull Phase, the price is pulling back (ellipse shape) through consolidation towards the 1W MA50 (blue trend-line) that is technically the long-term Support during this part of the Cycle. The 1W RSI has been pulling back after turning overbought since April, similar to what happened on December 14 2015. It is easy to understand that the 1W MA50 is the most critical Support right now as it never broke downwards during the previous Bull Phase. Technically we have to assume that as long as it holds, BTC remains on a long-term bullish trend. ** The RSI symmetry ** The 1W RSI is particularly helpful when it comes to mapping those Phases and identifying identical spots in time, as the symmetry between Phases is astounding. The Cycle Top is easily revealed by the RSI, followed by Lower Highs that drive it to an oversold state, where investors can start buying again. Another distinct characteristic is the Overbought Volatility of the RSI as the price rises within its Bull Phase. Technically the RSI remains on a bullish trend as it just hit this week the Higher Lows trend-line that started after its bottom. This is again a similar behavioral pattern as with the previous Bull Phase and the Higher Lows test in February 2016. If the 1W MA50 is indeed the long-term Support again, then we should see the 1W RSI bouncing now on this Higher Lows trend-line and approach the overbought territory by the end of the year. ** The Cyclical Pivot ** What is perhaps the most important part of this cheat-sheet, is the Cyclical Pivot trend-line. That starts at the bottom of the Bear-to-Bear Phase, supports all the way and then gets broken near the start of the Bull Phase. The key attribute is that when BTC hit it again on December 11 2017, the Bull Phase's Top was formed. As a result, we can argue that when BTC hits the new Cyclical Pivot trend-line again, we could have the new cyclical Top. ** The Fibonacci Time levels and Halvings ** Since the Phases appear to be getting longer, we can use metrics that incorporate this sense of proportionality, such as the Fibonacci Time Zones. The first Bull Phase peaked just after Fib Time extension 1.8. Halving 1 was a little before the middle (Fib 0.5) of the Bear-to-Bear Phase, while Halving 2 was at the middle of the Bull Phase. On the last Bear-to-Bear Phase, Halving 3 was almost on its middle. If the nw Bull Phase extends as long as Fib 1.8, then Halving 4 will also fall exactly on its middle. Indeed an interesting symmetry, a behavioral pattern that BTC often follows. We can expect the new Bull Phase to last up to 187 weeks (1309) days, which is where the 1.8 Fibonacci Time extension is. If so then it is possible to hit the Cyclical Pivot trend-line at a price of $400k by January 2026. If it is as long as the previous Bull Phase, i.e. at least 152 weeks (1064 days), then by that time a technical contact with the Cyclical Pivot can be at around $250k. That's at least how the model develops itself so far, but what do you think? Can the 1W MA50 hold and lead BTC to at least a $250000 new Top? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
4
$PYR Performed Bullish Symmetrical BREAKOUT DONEWhat is a Symmetrical Triangle A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle. KEY TAKEAWAYS Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.
Long
by Crypto-Adda_Official
Bitcoin ; Solid support zone.1-Volume Matters One of the key indicators we always keep an eye on as traders is trading volume. It's no secret that strong buying volume often precedes significant price increases. In the context of Bitcoin, a surge in buyer interest can fuel a bullish rally. Currently, Bitcoin is experiencing a period of consolidation, and trading volume has been relatively moderate. As traders, we should remain vigilant and monitor trading volume closely. A sudden spike in volume, especially on the buying side, could indicate a shift in market sentiment, potentially signaling a bullish trend reversal. 2-Solid Support Zones Another crucial aspect to consider when assessing Bitcoin's potential for a bullish move is the existence of solid support zones. In the price range between $24,000 and $26,000, Bitcoin has historically found strong support. This level has acted as a reliable base during previous market cycles. As traders, it's essential to acknowledge the significance of historical price levels. The $24,000 to $26,000 range has consistently demonstrated its ability to attract buyers and provide a cushion against downward pressure. However, it's important to remember that past performance is not indicative of future results, so caution is warranted.
COINBASE:BTCUSDLong
by Gassem_futures
$RAD BREAKOUT Range What is range trading? Range trading is an active investing strategy that identifies a range at which the investor buys and sells at over a short period. For example, a stock is trading at $35 and you believe it is going to rise to $40, then trade in a range between $35 and $40 over the next several weeks. You might attempt to range trade it by purchasing the stock at $35, then selling if it rises to $40. You’d repeat this process until you think the stock will no longer trade in this range.
Long
by Crypto-Adda_Official
$OG Performed Bullish Symmetrical$OG Performed Bullish Symmetrical Triangle in 2hr - 4hr KEEP eyes on it What is a Symmetrical Triangle A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle. KEY TAKEAWAYS Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.
Long
by Crypto-Adda_Official
MKRUSD Buy confirmation above the 1W MA100.Maker (MKRUSD) broke and closed the 1D candle above the 1D MA50 (blue trend-line) for the first time in ten days, after rebounding on the Higher Lows trend-line. Along with the 1D MACD Bullish Cross, this is an initial buy signal that will get confirmed after the price closes a 1D candle above the 1W MA100 (red trend-line), which caused a rejection on August 02. When this happens, we will take the bullish break-out signal and target 1600 (+62% rise as the previous two rebound legs). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:MKRUSDLong
by TradingShot
5
API3 retest below 0.9?Hello friends, I don't know what the condition of BTC will be and whether we will really test lower levels and GAP around 22-20k, however if so I expect something similar with API3. It's clean, SL above breakout and profit in two parts + be patient. Of course, I'll explain the situation you described in English. An ascending triangle is a technical analysis pattern used in trading various assets, including cryptocurrencies. It consists of two trendlines: one is a diagonal trendline connecting the highs of price points, and the other is a horizontal level representing a certain resistance or support. The drop in the price of the API3 cryptocurrency from the ascending triangle and the subsequent testing of the ascending trendline can have a few implications: Breakout of the Ascending Triangle: A drop in price outside the triangle pattern can signal weakening demand or a change in trend. If the price of the API3 cryptocurrency fell below the lower diagonal line of the triangle, some traders might believe that the ascending trend has been disrupted and a price decline might follow. Testing the Ascending Trendline: After breaking out of the ascending triangle, the price might attempt to test the previously diagonal trendline as a new resistance level. This is a common scenario; if the price doesn't stay above this line, it could confirm that the earlier upward trend has been broken. Expectation of Price Decline: From your explanation, it seems you expect the value of the API3 cryptocurrency to decrease. This expectation could be based on technical analysis, where you observed the breakout from the ascending triangle and the subsequent testing of the ascending trendline. This might suggest that the market lacks the strength to sustain the price at a higher level and a decline could follow.
Short
by Bitcoinblockchainonline
BITCOIN Needs to break the 1W MA100 to confirm bullish extensionBitcoin (BTCUSD) is rebounding after hitting the 1M MA50 (blue trend-line) for the first time since the June 12 1W candle, which provided a rise. Technically on the 1W time-frame, the trend has been neutral basically with the 1W MA50 (blue trend-line) supporting and the 1W MA100 (green trend-line) as the Resistance, having the July 10 rejection. In fact, the 1W MA100 has been unbroken ever since the May 02 2022 bearish break-out that started the final and more aggressive decline of the Bear Cycle. If BTC reclaims it, technically it should turn into Support until the next Bear Cycle. At the same time the price continues to respect the 1M Support/ Resistance Zones, which is part of an analysis we conducted in June. The Resistance Zone (red), was previously a Support in 2022 having closed all 1M candles up to April 2022 above it, despite some large wicks that broke much lower but where bought back aggressively in the end. That Support Zone is now the new Resistance Zone, in a similar way as the Resistance Zone of July - August 2022 (green) is now the new Support. The 1W MA50 is within that Support Zone, in a similar way the 1W MA100 is trading within the Resistance Zone. All this while the 1W RSI is within a Channel DOwn since it hit the 70.00 Overbought barrier on April 10 but is close to the Higher Lows trend-line of June 2022, which is the current Cycle's Support. As a result, the price is currently within a huge Neutral Zone that although based on the 1M candles closings, a 1W candle closing above the 1W MA100, will be the first bullish break-out signal towards 45900 - 48500, which is the next Resistance Zone ahead and our medium-term target. But what do you think? Will Bitcoin break above the 1W MA100 (Resistance) or the 1W MA50 (Support)? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
7
$ZEN Performed Bullish peanutLSE:ZEN Performed Bullish peanut What Is a Pennant? In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. Pennants are continuation patterns where a period of consolidation is followed by a breakout used in technical analysis. It's important to look at the volume in a pennant—the period of consolidation should have lower volume and the breakouts should occur on higher volume. Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation.
Long
by Crypto-Adda_Official
STXUSD Buy break-out soon.Stacks (STXUSD) had a very strong 1D green candle yesterday and is about to hit the 1D MA50 (blue trend-line) for the first time since July 20. As the 1D MACD just completed a Bullish Cross yesterday, if the price closes a 1D candle above the 1D MA50, you can quick buy and target the 0.618 Fibonacci level. Further closing above it, would be a first, unlike the June 21 Lower High and we will take the break-out buy to target the 1W MA100 (red trend-line) at 0.81000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:STXUSD
by TradingShot
$TRB Performing Falling wedge in 15m Keep eye on Breakout Falling Wedge The falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern. In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows. Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows. If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips! A good upside target would be the height of the wedge formation.
Long
by Crypto-Adda_Official
BITCOIN Grayscale prevails against SEC! Ready for +30% rally?Bitcoin (BTCUSD) is already more than +5% for the day after Grayscale prevailed against the U.S. SEC in a historic ruling over the conversion of the Grayscale Bitcoin Trust to a spot Bitcoin ETF in a lawsuit. This legal win could be a pivotal step towards having the first ever spot Bitcoin ETF authorized in the United States. Technically the price reclaimed the 1D MA200 (orange trend-line) with ease after breaking below it 12 days ago. A 1D candle closing above it would confirm this sentiment. After all, the August 22 low was exactly at the bottom of the 5-month Channel Up, making a Higher Low sequence. On top of that, the 1D MACD just completed a Bullish Cross, the 4th such formation these months. As a result, BTC has both the fundamental and technical backing for a new medium-term rally. The previous two rallies to a Higher High have been around +29% so we are expecting at least $32500. Interestingly enough they both took only (around) 30 days to be completed since their bottoms (Higher Lows). But what do you think? Is this the start of a new +30% rally for Bitcoin or just a fake-out move based on news? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸
CRYPTO:BTCUSDLong
by TradingShot
6