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Parallelchannels

[08/10] Beast Trading _ Today's Bitcoin Perspective Beast Trading _ Today's Bitcoin Perspective Bitcoin has been showing a strong trend since August 8. That's why I don't think it's good to trade with the mindset that "Bitcoin has risen this much, so I'm going to take a short position" and "Bitcoin has fallen this much, so I'm going to take a long position." First of all, after the strong rise in B-c accompanied by the volume of transactions I've suggested two days ago, we're going exactly according to Elliott's view that there's a stronger C-wave decline with the volume of transactions, and it's now in a very important section. This is the bottom line of Bitcoin's one-hour parallel channel, which I emphasized before, and it is a very supportive position at the level of one salary. And as it has a strong meaning, it has shown a weak rebound by supporting it at the bottom line despite its strong decline. I think there will be a little change in the big view depending on whether there will be a further rebound or a break from this position First, there is a high chance that the rebound will not come out properly here, and if you break the bottom line, you will go according to the previously raised point of view. There's a lot of possibility of a further plunge. Second, if there is a rebound here, it is likely that the B wave, which is newly raised today, will converge for a long time. It's a perspective that keeps moving up and down in the form of a triangulation and rising at the end of the convergence. Considering the current four-hour stoic, it is located at the bottom line, so even a slight rebound is expected to give a little boost to the rise. + The purple trend line at the top is the bearish trend line from 32k.
by BeastTrading_Sehyun
3
NZDUSD Short!Price has been trading inside the given parallel Channel since 2021 ! recently price tested the lower limit of the channel and got pushed up till 0.63515 where it was faced by another resistance zone and got pushed down ! Price is in the process of retesting the above said resistance zone before it continues with the downward movement . The notion of the downward movement gets further strengthened by the observation of a Flag pattern on the Daily Chart and EMAs on weekly and daily charts . my final target for now is 0.61000 !!
Short
by UnknownUnicorn13036184
3
BNB, flap or flop? In an attempt to avoid side action, I'm watching what BNB does at 287.3 If it's a bounce on 287.3, I think BNB will make a run for 302.5 If BNB breaks below 287.3, retests and rejects, then I think it'll be a decent retracement targeting 273.9 At the moment there are some Bear signs, but the volume and volatility just isn't there. If Short setup gets confirmed: Short Entry around: 287.3 Short Target #1 : 273.9 273.9 is a strong level, if the price reaches it, I think it'll bounce rather than break below. This is my Thesis, targets are purely hypothetical based on my analysis. This is NOT Investment and/or Trading Advice. Happy Trades! ❤️ If you enjoy my ideas , Please like/comment , It means a lot, Thank You! ❤️ BYBIT:BNBUSDT BINANCE:BNBPERP FTX:BNBPERP BINANCE:BNBUSDT
by WhoIsWu
can ETC see $90?#ETC/USDT $ETC completed Adam and Eve pattern that shaped inside ascending channel and touched 2 fib level of this pattern that is the same with 0.5 fib level of daily swing down. 🐮 price can correct toward upper line of channel and continue its uptrend move to $38 and if the weekly candle going to close above descending resistance, price can fly to $90 in coming weeks. 🐻 but if bears break down price inside ascending channel price may drop to $25 and even $18.
by parissap
8
[08/01] Beast Trading _ Today's Bitcoin Perspective Beast Trading _ Today's Bitcoin Perspective Bitcoin showed an ABC-like decline yesterday, according to the market. The decline, the decline, and the shape of the decline, moved almost the same as yesterday's market, and I'll tell you what you need to check carefully from now on. First of all, I'd like to talk about alt-pumping before the Bitcoin analysis, and I think there's a short-term failure of the bit rising from 20.7k, starting with PUNDIX yesterday. Of course, you should always be careful: you're jumping like a moth on a coin that has risen by tens of percent. There was a sharp rise, so the fall is very wide. It seems good to avoid these high-risk gambling deals. Also, I don't recommend too much buying because there are still some parts where it's ambiguous to say that these pumps are not the real entry into the fire. (It's not like there's no chance that the alt's going to crash suddenly, so you have to keep some cash!) Back to Bitcoin, we're still holding up well after being supported twice in the upward trend that I posted yesterday. However, considering that it was supported by the upward trend and there is no proper rebound, it can be seen that the upward force is not very strong here, but if you come to touch the line again, you can break it down and make a short-term plunge. Slightly below from now, there's a significant rebound of 22.7k with a 0.5 return position and a sales stand at stake for the increase from 20.7k to 24.6k! It looks like a good place to take a long position. The Fibonacci support line below is likely to be 23160 / 22700 / 22230 The upper trend resistance line is around 24950!
by BeastTrading_Sehyun
[07/29] Bitcoin ; Short-term Bitcoin DirectionBitcoin ; Short-term Bitcoin Direction Bitcoin recovered to 23k at once yesterday, and even after that, the buying trend did not die and recovered to 24k. 22.5k - 24.3k (high point) 18.9k - 20.7k (low point) A strong rise came from the bottom of the parallel channel, and when the Elliott wave is applied, it seems that the upward waves are impulse waves and the downward waves are adjustment waves. In particular, as the volume of transactions exploded in three waves within one wave, it is believed that the one wave was extended impulse upward until a huge upward transaction volume exceeding this transaction volume broke out. Currently, it is judged that there is a slight adjustment in the four-wave section, and it is analyzed that there is one more five-wave rise left. And when you connect the red circle peaks, you have a resistance line, which is the primary trend resistance line, and the secondary resistance line is the top of the peripheral channel! Personally, I think there's still a little more room for improvement, and as I said in yesterday's market, I'd like to recommend a long position-oriented response before renewing 24.2k.
Long
by BeastTrading_Sehyun
[07/27] Bitcoin; Consideration of Parallel ChannelBitcoin; Consideration of Parallel Channel Let's look at the point when a strong decline occurred and the decline calmed down a little after reaching 69k, the high point of the bitcoin market. In the rising parallel channel formed from 32k, three mountains (I refer to mountain-shaped charts created by repeatedly rising and falling stock prices) appeared, and the bottom line of the parallel channel was deviated downward, resulting in a strong decline. And as the decline calmed down, from 27k, a new upward parallel channel was formed, which also deviated downward from the bottom line of the parallel channel after three mountain charts appeared, resulting in a strong fall. And now, the rising parallel channel has been formed since the low point of 17.6k. The chart is flowing in a similar way to the pattern I mentioned earlier. If we put this fractional analysis into the present, the third peak of the mountain is now formed, and it's down to the bottom of the parallel channel. Assuming that the same pattern comes out, you can see it as a place where you can deviate from the bottom line of the parallel channel and make a big drop. So what's the target price for Bitcoin decline? The first parallel channel out-of-bottom drop was around 45% from "high point in parallel channel" to "start point of next parallel channel". Then, the parallel channel outfall fell by 45 percent from "high point in parallel channel" to "start point of next parallel channel." Through this, it can be inferred that Bitcoin can fall by 45% based on the current market price, and the value will be about 13.3k. It's one of the different analyses, so just refer to it! Thank you for reading this long analysis :)
by BeastTrading_Sehyun
4
Dow Jones: either up or downThe index is at the 21.4% Fibo retracement (March 23, 2020 retracement to the last top). In the inverse retracement from January 3, 2022 to June 13, 2022, the price seems to have corrected in the region of 38.2%. And it is in a bullish channel which in this context can be called a bearish flag. The Stochastic RSI is retesting a resistance for the third time. What to expect In a bullish scenario, it is necessary for the price to fall at most to halfway through the channel, and remain above the 21.4% major retracement. If it breaks the 38.2% inverse retracement, it will at least test the next 50% retracement. Now, if it stays in the lower half of the channel, there is a higher probability of going all the way to the 38.2% retracement.
DJ:DJI
by andre_007