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BTC: BOUNCE OR MORE DUMP??Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this BTC update. If you are following me and reading my updates then definitely you are safe. In my previous BTC update, I clearly told you that BTC is not looking good, forming a bear flag pattern and we see a dump soon. Currently, BTC is trading around the $21.7k level so what's the next possible scenario from here? Let's discuss this. According to this 8hr chart, BTC is forming a descending triangle in 8hr time frame and currently hovering at the lower trendline of the triangle which is our last hope of any bounce. If BTC held this support and bounce from here then we see a pump up to the $22.5k level but for more bounce, BTC needs to break out from the triangle and close above the resistance line. And according to the second scenario which is highly likely, once BTC breaks down the triangle and close below the $21.5k level then be ready for the $18k-$18.5k level. IMO you should be ready to short any bounce from here with an invalidation of close above $22.5k What do you think about this? Do you think we might see a bounce from here or do you think that $18k is on the board? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Short
by CoreCrypto1
4
LTC/USDT 1DInterval Resistance and SupportI invite you to review the LTC chart in pair to USDT, on a one-day interval. First, we will use the blue lines to mark the uptrend channel from which the price came down. Moving on, we can move on to marking support areas when we start a larger correction. And here, the first support is at $83, where the price is currently located, the second support is at $77, the third support is at $70, and then we have the fourth support at $60. Looking the other way, we see first resistance at $88 to $91, then second resistance at $94 to $97, then support at $100, then support at $105. Please look at the CHOP index, which indicates that there is some energy left for further movement, the MACD indicates that we are moving in a downtrend, while the RSI has a rebound and we are approaching the lower limit of the range.
by cryptodailyuk
MATIC/USDT 4HInterval Resistance and SupportHello everyone, I invite you to review the MATIC chart in pair to USDT, also on a four-hour interval. First of all, using the yellow lines, we can mark the downtrend channel in which the price is currently moving. Now let's move on to marking the places of support. We will use the Trend Based Fib Extension tool to mark the supports, and as you can see, we have the first support at $1.06, the second support at $0.99, the third at $0.93, and the fourth at $0.87. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first significant resistance at $1.18, the next resistance at $1.24, then the third resistance at $1.30, and the fourth at $1.34. Now let's move on to Index CHOP which indicates that energy has been used for the correction but there is still some left. The MACD indicator is on the verge of entering a local downtrend. On the other hand, we see a significant rebound on the RSI, we are approaching the lower limit of the range, which may indicate an upcoming trend change.
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by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, I invite you to take a slightly broader look at the BTC chart against USDT, taking into account the four-hour interval. First, we will use the blue lines to mark the sideways trend channel, but locally, we will use the yellow lines to mark the second downtrend channel. Now we can move on to marking the places of support in the event of a correction. And here we have the first support at $21951, the second support at $21834, the third at $21736, and then it is worth marking a strong support zone from $21640 to $21500. Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. And as you can see, we have the first resistance at $22016, the second at $22118, the third at $22197, and then we have a strong resistance zone from $22283 to $22403. Please pay attention to the CHOP index which indicates that there is still energy to continue the move, the MACD indicator indicates entering a local downtrend, while on the RSI we are moving at the lower end of the range, which can potentially give a change in the trend.
by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving in the lower part of the downtrend channel. Let's start with the support line and as you can see the first support in the near future is $21954, if the support is broken then the next support is $21833 and $21738 . Now let's move on to the resistance line, as you can see the first resistance is $22014, if you manage to break it the next resistance will be $22115 and $22198. Looking at the CHOP indicator, we see that we still have the energy to move, the MACD indicates entering a local downtrend, while the RSI is moving at the lower end of the range, which can potentially give a change in the trend.
by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving below the local downtrend line. Let's start with the support line and as you can see the first support at which the price is located is $22219, if the support is broken then the next support is $22114, $22026 and $21942. Now let's move on to the resistance line, as you can see the first resistance is $22282, if it is broken then the next resistance will be $22365, $22480 and $22630. Looking at the CHOP indicator, we see that some of the energy has been used, but there is still some left for further movement, the MACD indicates that we are maintaining a local uptrend, while the RSi shows a rebound and we are approaching the lower limit of the range, which may potentially change the trend.
by cryptodailyuk
BNB/USDT 4HInterval Resistance and SupportI invite you to review the BNB chart against USDT, also on a four-hour interval. First of all, using the blue lines, we can mark the downtrend channel in which the price is currently moving. Now let's move on to marking the places of support. We will use the Trend Based Fib Extension tool to mark the supports, and as you can see, we have the first support at $279, the second support at $272, the third at $267, and then at $262. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first resistance at $294, the next resistance at $301, then the third resistance at $306 and the fourth at $311. The CHOP index indicates that there is still energy for movement. The MACD indicator is on the verge of entering a local uptrend. On the other hand, the RSI shows an increase, but there is plenty of room to continue it.
by cryptodailyuk
FTM/USDT 4HInterval Resistance and SupportThe last one in today's chart is the FTM vs. USDT chart. First, we will use the white line to mark the main trend that the price must overcome, but locally, with the blue lines, we will mark the downtrend channel in which the price is fighting for an uptrend. Moving on, we can move on to marking the places of support. And here we can immediately see that the support at $0.41 is very strong and held the price, but looking further, the next support is at $0.36. Looking the other way, we see that the price has hit an important resistance zone from $0.43 to $0.46 that it has to face. Then we have resistance at $0.48, then a second zone from $0.50 to $0.53, and another resistance at $0.57. Please take a look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, the MACD indicates that we are moving in a local uptrend, while the RSI has gone to the middle of the range and there is still room for further increases.
by cryptodailyuk
SOL/USDT 1HInterval Resistance and SupportHello everyone, let's look at the SOL to USDT chart on a 1-hour time frame. As you can see, the price is moving below the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $21.01, if the support is broken then the next support is $20.84, $20.61 and $20.30. Now let's move to the resistance line, as you can see the first resistance is $21.32, if you manage to break it, the next resistance will be $21.54, $21.72 and $21.90. Looking at the CHOP indicator, we see that the energy is used for a correction, the MACD indicates entering a local downtrend, while the RSI shows a rebound and entering the lower part of the range.
by cryptodailyuk
USDCAD Study Case 🧙‍♂️Intuition suggests price is likely to flow back up to the main weekly supply to clear out seller liquidity. How we will get to that zone is another story. I don't think we will push up to the zone from here. I believe price has lured buyers in after breaking the trendline marked. So price is likely to do some manipulation to clear breakout buyers before flowing to our target. I have done a rough illustration of what I am after but we will have to judge it as the price progresses. I am wishing you all a fantastic trading week team!
Long
by AlkalineFX
9
FLSY - Anatomy of a "Good" tradeHi All, This is just to share on how I would approach a trade (as a trader). 1. Look for signs that the stock is forming a bottom (rounded bottom, inverted Head and Shoulders, Adam and Eve), rising above 200 day MA, Golden Cross etc. 2. Check out its longer term charts (ie weekly and monthly) as you will likely see a clearer picture of it's direction. 3. Wait for some triggers (eg breaking above neckline especially on strong volume). FLSY is a good example and had presented several good opportunities for several short term trades recently (could be held for longer term if one had entered earlier around 12.36 (1st Entry in chart) and didn't get stopped out. 1) On 2nd Feb (Initial Breakup), it gapped and broke up above this neckline (as well as it's 200 day MA), everything looks good except volume was just above average. Well, this initial break up failed! Yes, it happens more often than we cared for, especially during the earlier phases of the trend, hence a conservative trader would prefer to wait for a pullback and long if the neckline proved to be a support. 2) on 13 Feb (1st Entry), FSLY once again gapped above the neckline and 200 day MA, but this time the volume was HUGE. However, this was prior to earnings announcements (2 days later, AMC). There is a possibility that earnings beat had been leaked, so if one decide to enter this trade, then it would probably be wise trade small. 3) on 16 Feb (2nd Entry), the day after earnings, which beat expectations (surprise surprise...LOL), many traders will FOMO into the stock especially as it rose above the previous candle's high around 14.20. This turned out to be a very profitabe trade (intraday). Next day however, it formed a "Harami" candlestick (aka "inside bar"), showing indecision at this point. I would raise the stop to 15.30, slightly just under this "Harami" candlestick (which is already a 11% SL from its high @ 17.18). Those with a larger risk appetite could raise the stop to entry price (ie 14.20), allowing for larger volatility which could stop one out prematurely but be prepared to give back all profits if wrong. 4) FSLY had a steep pullback after all (due to poor market sentiment during the whole month of Feb) and found support only at 61.8% of it's large AB up swing. This was also within a prior "Resistance" but turned "Support" zone. It began to form small sideway candles (a signal to long if it starts to break above this "consolidation" range) 5) We had a Long trigger again last Friday (3rd Entry) as the stock started to rise decisvely above the consolidation high @ 14.20. It turned out to be a large candle day, hence I would place initial stop loss just below this large candle (ie 13.55, a 5% initial SL). There is a good chance this stop will not get hit (although nothing is guaranteed LOL). Uptrend is underway for FSLY (above 200 day MA, with the shorter MAs (20 and 50) both rising. However, it could still experience large swings along the way and one has to manage the trade and raise the stops from time to time to protect profits. Just because one is stopped out does not mean the stock is spent. Sometimes it could be just periods of consolidation (short or long periods). Keep it on your watchlist as long as the stock has not shown signs of bearishness on a higher timeframe, set alerts for the next trigger. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:FSLYEducation
by Juliac
1
Daily ETH 4HChart - resistance and supportHello everyone, let's look at the ETH to USDT chart on the 4-hour timeframe. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $1550, if the support is broken then the next support is $1530 and $1515. Now let's move to the resistance line, as you can see the first resistance is $1573, if you manage to break it, the next resistance will be $1591 and $1605. Looking at the CHOP indicator, we see that the energy is exhausted, the MACD indicates the maintenance of the local downtrend, while the RSI is moving at the lower end of the range, which may result in a trend reversal.
by cryptodailyuk
SOL/USDT 4HInterval Resistance and SupportHello everyone, I invite you to review the SOL chart in pair to USDT, the same as its predecessors on the four-hour interval. First, we will use the blue lines to mark the sideways trend channel where the price is moving at the lower border, while locally, with the yellow line, we can mark the local downtrend line. Moving on, we can move on to marking the places of support. And here we see that the price is in a strong support zone from $21.52 to $20.02, if this zone does not hold the price, we can see a strong drop to around $15.62. Looking the other way, we see that the first resistance is at $22.09, which was previously support for the price. Next we have support at $23.18, third at 24.08, fourth at $24.98 and fifth at $26.25, at the upper limit of the sideways trend channel. Please look at the CHOP index, which indicates that the energy has been used, the MACD indicates that we are in a downtrend, while the RSI is moving in the lower part of the range, which could potentially be the reason for the trend reversal.
by cryptodailyuk
BNB/USDT 4HInterval Resistance and SupportHello everyone, welcome to a review of the BNB chart on a four-hour time frame. First, we can use the blue lines to mark the local downtrend channel in which the price is currently moving. Now let's move on to marking the places of support for the price. To do this, we will use the trend based fib extension tool, and we see that we have first support at $284.7, but if the price goes lower, we have another support at $272.6. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that currently the first resistance is at $297.4, the second resistance is at $303.9, the third is at $309.3 and the fourth is at $314.7. Please look at the CHOP Index, which indicates that the energy has been consumed and is slowly increasing, the MACD indicates the continuation of the local downtrend, and the RSI has a strong rebound to the lower end of the range, which may positively affect and give increases in the coming time.
by cryptodailyuk
BTC 1HChart - ShortTermHello everyone, let's look at the BTC to USDT chart on a 1-hour timeframe. As you can see, the price is moving below the local downtrend line. Let's start with determining the support line to which we will use the trend based fib extension tool and as you can see, the first support in the near future is $22016, if the support is broken then the next support is $21712 and $21474. Now let's move on to the resistance line, as you can see the first resistance is $22452, if you manage to break it, the next resistance will be $22601, $22751 and $22954. Looking at the CHOP indicator, we see that the energy has rebuilt in the 1-hour interval, the MACD indicates a local uptrend, while the RSI is moving at the lower end of the range and has a lot of room for growth.
by cryptodailyuk
Daily ETH 4HChart - resistance and supportI invite you to review the chart of ETH in pair to USDT, also on a four-hour interval. First of all, using the blue lines, we can mark the local downtrend channel in which the price is currently moving. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and as you can see, the price stopped at a very strong support of $1569 equal to 0.618Fib, we have a second support at $1522, while when the price goes lower we can see a drop to $1461. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have first resistance at $1591, next resistance is at $1620, then third resistance at $1643, then we have a strong resistance zone from $1667 to $1700. The CHOP index indicates that the energy has been used. The MACD indicator confirms the local downtrend. On the other hand, on the RSI we see a rebound, and we are moving at the lower part of the range.
by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of four hours. First, we will use the blue lines to mark the uptrend channel in which the BTC price is moving. And as you can see, we have touched the lower border of the channel for the third time. Now we can move on to marking support areas in case of deepening of the current correction. And here, in the first place, it is worth marking a strong support zone from $ 22,270 to $ 21,440, but when we fall below this zone, we can see a drop to around $ 20,417, and then even to the price of $ 17,410. Looking the other way, we can determine the places of resistance in a similar way. First, we will mark the resistance zone from $22,749 to $23,610, when we manage to break it, we have a second zone from $24,034 to $25,258. When you manage to overcome these two, the road will open towards $27,323. Please pay attention to the CHOP index which indicates that in the four-hour interval the energy has been used up, the MACD indicator has a strong local downtrend, while the RSI has rebounded to the lower limit of the range, which creates a lot of room for possible increases.
by cryptodailyuk