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BTC bottem is in, upside to come according to volume patternGood evening everyone, Today I took a good look at BTC. First I want to share some information about volume with you because it is very important to understand how this can be viable information in trading. There are three types of volume: 1: Igniting: Ignites a move in a new direction or continues and already strong/weak non-extended move. 2: Ending: Ends the current (extended) move. 3: Resting volume: Allows the stock to rest enough to continue its current move after a pause. Typically seen in consolidation breakouts/breakdowns. I use these 3 types of volume to help discern when a stock might change direction or continue a move. Keep in mind, I am not only looking at volume, but I am also looking at support/resistance areas, how the stock arrived at its current location as well as the volume associated with the move. Lastly, on certain types of moves (especially climatic reversals), it is common to have both types of volume happening in succession. Many people are thinking that BTC will go lower (there is fear in the market) and that makes me more confident that BTW will go higher from now, because we only have seen some resting volume and a price decline, but this is after huge igniting volume, so there must come big Ending volume to end the uptrend, for now, I haven’t seen any of that. I expect BTC to test the old support and 200-day MA at 9400 USD in the coming weeks. What do you guys think? Please leave a like and comment below if you enjoyed this post. Greetings!
BITMEX:BTCUSD.PLong
by Cornevdberg
Bitcoin measured downtrend to reverse only if price breaks 8700 Bitcoin price cautiously moved down for the last week, with several tenuous rallies in the process. Price broke down the pivot support level at $8600 USD today. The overall crypto market is still very weak. Until seeing a major break out above the downtrend line with strong volume, it's safe to assume bitcoin still has room to go down. The downward structure looks like a descending wedge, which is a bullish reversal pattern. However, currently, we don't have any bullish sign for the moment. Horizontal support 2 : 8160 Horizontal support 3: 7650
BITMEX:BTCUSD.P
by UnknownUnicorn3838311
Long position AUDUSDWeekly Daily support area lower high lowerlow has changed to higher high and making higher low now divergence visible on 30 min target 1----- 0.69200 (previous daily candle high) target 2----- 0.69800 --- (if high broken) ( resistance above daily high) strategy --> you can enter now with stop below lowest price + 10pip (aggressive entry) or you can place stopbuy above high and add smaller trade all the way to target (what we suggest) remember to calculate your risk first and dont take big risk (not more than 3%)
Long
by Forexharmony
GBPCAD LONG IDEA-The 1W chart shows a re-test of the support TL on this triangle pattern. This shows that there is a lot of selling pressure and bears are in control. If you look at price in the circled area, you can see that as price increases, the retracements are strong/deep; showing that if price were to continue higher, the bears will come back and drive price back down again: -The 1D chart is what you're seeing right now. The exchange rate continues to close above the 61.8% zone on the Fibonacci, which would form the assumption that price is likely to rise to around 1.66920 on the C-D wave of the Harmonic pattern before turning to go south. Numerous tests of the support TL further support an increase in GBPCAD. Now as, this is a bearish harmonic pattern we would be looking to short as we reach that 1.66920 area. This is inline with my thoughts on the weekly timeframe, (retracements are deep and therefore bulls will be stopped as we find resistance). Please feel free to comment, tell me your thoughts and what you think!
Long
by UnknownUnicorn2215917
4
Gold Learning Volume ProfileThis is more about understanding volume profile more than anything else. I actually set this trade up based off of the candles to the left wicking low, and my entry was the break of those particular wicks. One thing that I found really interesting about where I put my entry at, was the fact that most of the other candles above had a magnitude of a particular range, but when the sell stop was activated, the candle that painted was actually of a higher magnitude, meaning that it move more pips on average than the other candles.
OANDA:XAUUSDShort
by BitkoinKing
OKAY BITCOIN, RELAX Bitcoin has finally broken through a $9k support level, due to such a heavy impulse breakthrough, this may suggest 2 possible outcomes: 1. It's just a retracement, market will resume bullish from $7k. 2. Price has also broken below the 200 EMA which may continue a bearish run to perhaps $5k & under. The RSI is currently hovering in oversold conditions (not saying I follow the reliability of the indicator), ideally I would like to see bulls break through $10450 area before looking to go long.
COINBASE:BTCUSD
by UnknownUnicorn2215917
3