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Bullchannel

🔄Decoding Bitcoin Cycles🔄The world of Bitcoin is known for its enigmatic cycles, and understanding these recurring patterns can be your secret weapon. Let's delve into the concept of Bitcoin cycles, where history often repeats itself. 📉📈 Cracking the Cycle Code Bitcoin's market cycles often display remarkable similarities across time. Recognizing this cyclical behavior can give traders a crucial edge. In each cycle, we typically witness a consistent sequence: a breakdown below key levels (often manipulated), followed by a strong uptrend and a retest of those very levels. The Deceptive Start It begins with a sly maneuver, a breakdown that plunges prices beneath key levels, triggering uncertainty and fear. It's a tactical move that shakes out the unseasoned traders. The Mighty Rebound Just when it seems like all hope is lost, Bitcoin showcases its resilience. A powerful uptrend follows, catapulting prices upward and catching the shorts off guard. The Retest: A Pivotal Moment But the story doesn't end there. Bitcoin often revisits the levels it initially broke down from. The retest becomes a critical juncture. Will the price hold above these levels, confirming a new bullish cycle, or fall victim to a bearish reversal? Trading Wisdom: Identifying Cycles Understanding Bitcoin's cyclical nature is an invaluable asset for traders. It encourages a cautious approach during breakdowns, strategic long positions during the uptrend, and a keen eye on the retest. Conclusion: Mastering the Cycles Bitcoin's price cycles reveal a familiar pattern. It's a story of manipulation, resilience, and potential transformation. By recognizing and adapting to this cycle, traders can harness its power and navigate the ever-evolving crypto market. 📈 Trading Cycles | 🔍 Pattern Recognition | 📊 Risk Management | 🌐 Cryptocurrency Insights ❗See related ideas below❗ Share your insights in the comments, and don't forget to like and spread the wisdom of trading. Your engagement fuels our financial discussions! 💚📉💚
by Yaroslav_Krasko
POUND- Higher by the end of the weekHello everyone As USD loses it's value over the news from federal reserve,better prices for the pairs with this currencies can be seen allover the market. For now, over the possibility of the exhaustion of the trend, we may have couple of RED bars in the way of our Bull trend, but since we have an OIO pattern( outside,inside,outside)it's more likely to have the market keep going up. the resistance levels in the way are 1.25$ & 1.26$ (1.25$ will break IF the trend continues) and our support level is 1.23$.
by HubAlgo
EURO - Wedge to a bull trendEURO - Wedge to a bull trend hello everyone As I have mentioned before In my previous analysis, we have a wide divergence and we can have a reverse pattern by the end of the week ( double bottom ideally). I expect to see a good bull bar with almost no shadow on ether side on daily. The last week's candle closed with a long shadow and a small bear body that can be the end of selling pressure hopefully. our resistance level is 1.09$ and our support level is 1.078$, and I expect to have the price touches our resistance level by the end of this week.
by HubAlgo
That is a strong trend line!!hello everyone Last week candle was a big red one for almost 80% of cryptocurrencies, and for the last couple of days we saw the same behavior until 12th of Apr. Since then we have been moving in a channel in between resistance level of 18.30$ & support level of 17$( it was mostly the trend line). For now we have divergence in RSI in 4 hours ,so the price may fail to break the resistance level and go back to our support level (or trend line) or worst ....
by HubAlgo
1
Ranging Gold MarketHey guys, I trust you are in good health and enjoying your weekend with your loved ones. An interesting week we had and more interesting weeks ahead, with volatility growing each day as we head into spring 2021. This spring season is extra important, as most developed countries have been vaccinating their people and the expectation is that these economies can get out of their lockdowns soon & governments can make up the balance of the damage. These events will have a major impact on markets - the equities and goldmarket in particular. On the technical side, we have a nice inverse H&S pattern on the daily chart with targets 1785 (38.2 fibo retracement level from 1960) and 1805 (gap closure). Also the daily RSI is above 50 since months and the latest COT is superbullish with an increase in net long positions of +22k contracts. The daily chart is currently in a bullchannel . Bears want this bullchannel to turn into a bearflag targeting 1680 and 1650 from the supply zone . If bears succeed to bring the price to 1650, they will have a break of the April 14th 2020 low and more downside is expected in the goldprice with potential bearish targets 1550 and 1450. Ofcourse before that, bulls will try to turn 1680 into a triple bottom , if they succeed they will have setup a major support zone which will function as a platform for a potential rocket to 2100. For the coming week I am planning to buy the 1735-1740 zone with targets 1785 & 1805 and will start selling after the gap gets closed. We might go a bit higher around 1808. For the gaptraders it is important to know that the gap indicates a supply zone, so I am expecting strong bearish PA after the gap gets closed. I will be looking to rebuy the 1680 zone with targets 1820 & 1850 (50 & 61.8 retracement level from 1960). All too early for now, but one can dream right? :) In short, a ranging market for the coming weeks and a lot of pips to scoop. Keep the scooping blue 😏, Cesaro
OANDA:XAUUSD
by CesaroPelucci
GBPUSD Long Trade, 4 Hour ChartSo this is my 4 hour chart. We are clearly in a nice bullish channel after breaking a resitance level. It's respecting the channel so i will see it keep doing that untel we hit that new resitance level. When the market makes a new higher high i'm going to short and target the previous support zone on a smaller timeframe and i hope it creates a higher low near that level. If i see bullish movement i will enter a long position and target the higher high. PLEASE LEAVE A LIKE IF YOU AGREE WITH THIS. Check also my monthly GBPUSD chart idea on my profile.
by MoneyShot_smc