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Convergence

BTCUSDT short up-to-dateSome correlations between Fibonacci ratios on retracement and AB=CD with oscillators Ehler's Smoothed Stochastic and Even Better Cinewave . Price action below weekly Volume Weighted Moving Average (VWMA-20) is a strong bearish signal to look forward to a bear trend continuation, assuming that we have an intraday upthrust (distribution) movement and a potential bearish breakout That's a very good point of entry for shorts in the crypto market. I'm maintaining my 14.6% Fibonacci target to the expected Head and Shoulders correction.
Short
by firmestudio
PSNY: MACRO ANALYSIS / INTERSECTING CHANNELS / SQUEEZE? (UPDATE)DESCRIPTION: In the chart above I have included an in depth MACRO ANALYSIS of PSNY. IMPORTANT: - With late Novembers PRICE ACTION rejection at around 8 POINTS this led me to consider that despite our current uptrend the CEILING of the PREVIOUS DOWNTREND CHANNEL IS STILL VERY MUCH IN PLAY. - RESISTANCE THAT WAS SEEN AT 8 POINTS WAS EXACTLY WHERE THE INTERSECTION LIES FOR BOTH THE CEILING OF PREVIOUS DOWNTREND CHANNEL AND CURRENT UPTREND CHANNEL. POINTS: 1. DEVIATION OF 1 POINT PER SUPPLY & DEMAND POCKET. (Gaps between Supply & Demand Pockets is due to lack of STABLE CONSOLIDATION) 2. FUTURE POINTS OF CONTACT were estimated by taking MEAN AVERAGES from PREVIOUS POINTS OF CONTACT. 3. PREDICTED 10 DOLLAR price target by FEBRUARY 14TH was estimated by taking into consideration how much previous rally made price action increase after serious consolidation. 4. IT IS CRUCIAL MACD BEGINS TO STAY CLOSE TO MEDIAN AS IT CAN BE A GREAT PREDICTOR FOR A POTENTIALLY BIG MOVE. SCENARIO #1: In a bullish scenario price action follows given path or makes more points of contact eventually breaking to the upside from DOWNTREND CHANNEL CEILING. SCENARIO #2: In a bearish scenario it is important price action does not fall below 5 points this would in fact invalidate entire setup. FULL CHART LINK: www.tradingview.com NASDAQ:PSNY NASDAQ:PSNYW
NASDAQ:PSNYLong
by DGSTBROKERACC
📉 The "Death Cross" PatternDeath Cross, 5 Key things to watch The "death cross" is a market chart pattern that occurs when a short-term moving average falls below a long-term moving average, indicating recent price weakness. It is often studied using the 50-day and 200-day moving averages. The death cross pattern is more reliable when confirmed by other indicators such as high trading volume or momentum indicators like the MACD. These indicators can help confirm that a major trend change is occurring. 🟠 The Death Cross (convergence of moving averages) is a strong indication of a sell-off 🟠 If volume increases after the Death Cross, the downward trend is likely to strengthen 🟠 If price is above moving averages, strong volumes may be needed to suggest a turnaround 🟠 If price is below moving averages, the selling pressure is likely to be severe and any upward corrective moves will face strong resistance 🟠 The first sign of selling pressure weakens as moving averages start to turn upward 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, Please like, comment and follow ❤️
Education
by QuantVue
5
[08/25] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis A series of ups and downs in the continuous triangular convergence, but I pierced one direction for the first time yesterday. It's the top line right above. I'll explain the response for the time being easily, so if you refer to it carefully, you can win the probability and profit and loss battle and proceed with the sale! The shape of the chart is as simple as possible, so it will be easy for beginners to understand. Let's get down to business! Last night, a big rise broke through the top line in the big triangular convergence that had been shown for several days. However, it was a little vague to say that it was an upper side, but it fell again and came down. What you need to check here is 1. Short term "green upward trend", 2. Existing "Triangle Convergence Top Line", "Red decline trend" from 25.2k 4. "Blue upward trend line" below the green upward trend A V-shaped rebound came from the short-term green trend line, confirming that it was a meaningful support line. If it comes down again, there is a high probability of support on this line, and if it breaks, there is a risk of further decline. Triangular convergence top line He broke the top line of the triangle convergence in yesterday's shot, but he came down from the top without holding out, so I think it could still be meaningful. It still hits the top line and falls slightly, and I think it will be a little more positive for the rise if it breaks through and settles upward. A line that acts as a resistance. Red on the decline It's a downward trend created by 25.2k and 24.4k. If we break through this downward trend and hold out from the top, it will be a little more positive for the rise, but we haven't yet. If you break through, you'll break through a sharp decline, so I think you can judge that the decline has subsided a little. Blue upward trend It's the bottom line of the triangle convergence. I think it will be the last line for those who see the upward view. If this line breaks and falls, you have to think about renewing the 20.7k low point! It acts as a support line. If you check the support/resistance lines carefully and enter a position with a good probability and profit/loss ratio, you will lead the sale to an advantage!
by BeastTrading_Sehyun
EURUSD 1H big hidden convergens Best Traders, in this study i want you to pay attention from this convergens senario, EURUSD in down trend and there is a small divergens raised the price a little (but) there is a big convergens in most case make continuing for the down trend , i think we should wait alittle before to be bullish on this pair , firstly lets us see a breakouts for the down trend and after that build up for good price action to confirm the breakouts , other than that we wil just wait for oposite price action to confirm for us the continuing of down trend, thanks
by AowsHosam
[Bitcoin] Convergence Three-way Breakthrough Appears!!! #Crack #Bitcoin #Binance #Daily - The convergence break out has finally appeared. - An bullish breakout of convergence has appeared, and an additional bull trend can be expected with the closing above the $31.6k resistance section. - When looking at the trading volume, a strong volume appeared up to $26,700 touches, and it is still premature to expect a clear bull trend as it cannot exceed the trading volume at the time when the convergence is in progress or when the convergence is broken. - However, if the above trading volume is interpreted differently, it can be interpreted that the volume that appeared at the $26,700 touch was digested at the $28k support line, and the $26,700-$28,000 support level can be understood as strong as that until a bearish candle is made with that amount of trading volume. - For this reason, it is still difficult to have confidence in the bull trend or bear trend, and it is also possible to imagine lowering the low after resistance in the white parallel channel or the blue high channel bottom (green box) section. - There has been a downward trend for a long time, although it is still confirmed as a short-term deviation from convergence, it is too early to judge that it has turned to an bull trend. Personally, looking at the volume that supported $26,700-$28,000, which is raising expectations for a trend change.
by Tommy_Trader
3
[Bitcoin] Convergence bearish breakout! Bearish or extention?#Crack #Bitcoin #Binance #Daily - Without breaking the resistance of $30,444.93 mentioned in the previous briefing, it looks like Bitcoin ended with a bearish convergence due to the emergence of a sell-off. - We need to prepare for a bearish trend, but we also need to keep in mind the possibility of an extended convergence. - A successful $28,715.32 support suggests the possibility of a rebound and extension of convergence, while the $30,444.93 and $31k-$31.6k resistances remain important resistances to break out. - If the $31k-$31.6k resistance is broken, we can expect an bull trend towards the green box with the bottom of the blue bull channel. - If the $28,715.32 support fails, further bearish trend can be expected due to the downward departure of the triangular convergence, and a decline to $22.7k-$23.8k or $17.1k-$19.7k can be expected.
by Tommy_Trader
1
BTCUSDT intraday reached the peak of the last upward swingBTCUSDT intraday reached the peak of the last upward swing. Now, as we can see on this chart, BTCUSDT price action is reacting to 78.6% Fibonacci retracement level which is a key level to shorts. Actually the price is in a potential reversal zone. Considering the reversal from this peak the price accomplished a prior zizag with this pullback for a expected downward. The local support is the demand to reached in a 2-day swing trade. Overbought condition as can be read on Ehlers Stochatisc CG oscillator. Plus a comparing price line from LinkdownUSDT of Binance to show to you an option to avoid of the liquidity risk. Don't be FOMOed and a moonboi will safe you of losts.
Short
by firmestudio
BTC - HOURLY - NICE RECOVERY...VERY S HORT TERM ANALYSIS (HOURLY) Today, we are going to look carefulLy what happened after the validation of the RSI bullish divergence coupled with the double top formation which i mentioned yesterday morning in my previous analysis as a warning ... (see related idea below) So as you can see, after this validation signal the BTC moved quickly up in a new intraday bull trend, (higher highs and higher lows, confirmed with a convergence on the RSI indicator; please also note the bullish engulfing pattern at the bottom of the chart, which also added value to this nice recovery; note also the successive long white candle which broke at each time important resistance level, begining by the Tenkan-Sen, then the Kijun-Sen, the resistanc of the former downtrend channel and finally the clouds resistance area (39'475-39'713) which increase the upside move towards an intermediate high @ 40'375 then going to the high so far @ 40'800. The 50% Fibonacci retracement @ 40'590 of the last downside correction (42'979 - 38'202 has also been filled), with the next 61.8% Fib ret @ 41'154, which also match the 4 hours clouds top resistance area and which should also be considered as the next important level to break in order to maintain this upside bias. NEVERTHELESS, looking at the last couple hours price action, we can see a trend changing from UP to SIDEWAYS, with a RSI also moving in the same way !! Therefore, this is the first warning signal to consider and respect ! Indeed, no bearish divergence has been confirmed yet, but I would strongly suggest to monitor very closely the price action over the upcoming trading hours. CONCLUSION : In order to maintain to come back in the former short term uptrend mood, the BTC should at least recover and hold above the former uptrend support line and make a new high (higher than the previous one @ 40'800 On the downside, an hourly closing below 40'375 (respectively former short term resistance area and now new short term support area !) would be the first warning signal calling for a downside correction towards the following levels : S1 : 39'800 S2 : 39'500 S3 : 39'194 (VERY THIN HOURLY CLOUDS SUPPORT ZONE !) As usual monitor and watch closely both shorter time frames (M30, M15 and M5) in putting in place alerts which will help you to detect early signal (s) of validation or invalidation of what I previously mentioned. Do not forget, of course, to keep an eye, at the DAILY, WEEKLY and MONTHLY picture which will bring you a broad picture and which will remember you that the BTC is still under the influence of a MAJOR DOUBLE TOP FORMATION, with its trigger level @ 28'600, currently in the weekly time frame still in a secondary downtrend move and in the daily picture, still below the clouds...meaning that the countertrend recovery should only be consider, for the time being, as a TACTICAL RECOVERY ONLY IN A BROAD BEAR TREND and NOT AS A STRATEGIC REVERSAL YET. Have a nice trading day. IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1