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Retracement

DOTPerp - Longterm Idea (beginners thoughts) - Crypto Market 21The Essentials: We are in a strong uptrend since low in July. Making higher highs and higher lows. Trading above the 200SMMA. Since August the 21SMMa crossed the 50SMMA and is increasing the gap continuously. Trendline is strong support. After consolidating in the second half of October, DOT reached an ATH on 01/11 ($51.6)! However the RSI is 3 points points lower during the ATH than the most recent high of 46.4 ---> which could signal a trend reversal, a RETRACEMENT before it goes parabolic (200+ ??). To confirm this retracement, I connected the swing-low end of September with the swing-high (ATH). This swing-low initiated the most recent uptrend, breaking through MAJOR resistances from earlier 2021 and mid September! It also bounced off the 50SMMA after retesting it as support twice. The Ideas: Prediction 1: the price drops to $45 (previous resistance, now support) due to crypto market in general moving up and BTC expected to rally in November. Bounces off from there to new ATH. This would have support from the trend line, which is accurate as support since end of September. Prediction 2: the price drops to $38. The major resistance from early 2021 and mid- September. This would mean a FIB retracement to the 50 level. If confirmed, a good entry to buy long at around $39-$40 level. Prediction 3: the 50SMMA continues to be the support as it was end of September. If the price drops, the 50SMMA should be a confluence to the golden ratio of .618 on the FIB chart. Strong confirmation if it does! Best possible scenario to re-enter DOT at $35.9-$36.6 levels. Thanks for reading and please let me know your thoughts/ideas. HAL
FTX:DOTPERPLong
by HAL88
GBPUSD - Price at Top of Down-Channel - Trend ContinuationHere is the summary of the indications: Market in a longterm Down-Channel Market now in Retracement Channel Market now at the Top of the longterm Down-Channel ----------- Hi Traders! The setup of this idea is that the big Trend of this pair is a downwards. As it has deep Pullbacks, it is a Downward Channel. Now we are in a Retracement Move, which is also at the top of the longterm Down-Channel. The idea is that if the market breaks below the Channel and simultaneously the Support, the next target would be the Support @ 1.36700. Potential Entries could be selling directly the Breakout, the retest of the Breakout or even before the Breakout. If you have any questions, something to add or anther point of view, let us know in the comment! Thanks and successful Trading :-)!
Short
by swissmoneymakers
2
Unpopular but possible retrace on BTC We could see a retrace from around here at weekly H3 to L3 based on weekly camarilla pivots. this is invalidated by breaking above the H4 also worth mentioning we have both a 4hour AND daily TD9 sequential sell setup. I dont want to be the bad guy and I do think we can get a little more upside action. However with the current market overconfidence I do not think this is the best time to open new market long positions or fomo. just my two cents. could be wrong. who knows.
by Gunslinger2005
9