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Swingfailure

BTC KEY LOCAL AREAS MAPPED!Bitcoin is currently trading below a local SFP level and is looking to cool off a little bit over the weekend, possible coming back down to the golden pocket mapped out below (Orange Double Lines). If it does reach that zone, I would expect price to keep climbing in the short term, but anything can happen. Lets see how this all plays out. This is a great area to long BITCOIN using the right risk management. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
EDUCATIONAL POST (SFP - Swing failure pattern) 📊📈 SFP: swing failure pattern Swing failure Pattern is a common trading setup that is highly respected and repeated frequently. It is used to identify lack of buy/sell pressure when a trend is being broken. What’s in the name? 👉 When the markets are trending, they tend to make swings. These are associated with ABC patterns (see image above). 👉 In this scenario the market would continue the trend with the C leg and make new candles above/below the level created by the A leg (dotted line). 👉 The trend continues. 👉 But, as the name Swing Failure suggests this doesn’t always play out and the market fails to continue the swing . 👉 We break the A level, but cannot close the candle above/below it. --> This results in a move to the opposite way and reversing the recent trend (red arrows). The first important thing to spot are the “Key highs/ lows” . They are points from where a price following a trend reverses or starts ranging. Are explained earlier, these points create liquidity (volume), which we want to see swept in order to enter our trade setup. Confirmation of the pattern is after the candle closes! I prefer to wait for confirmation of the “sweep” candle to take the trade. Hope some of you found this usefull. Oli
by theGOATofCrypto
2
$BTC - Significant Signs of WeaknessElon Musk has been on a tirade against Bitcoin on his twitter - but the signs of weakness were on the chart well before he started tweeting negatively about it. Let's take a look at what happened, and what to look for next. First lets break down the price action concepts on this chart. Weekly Swing Failure - this was a swing high on the weekly chart that price spent some time above - but was sold down after the $COIN IPO. Ultimately, the weekly candle that wicked above the swing high closed below - hence, Swing Failure. Daily break in Market Structure - I've drawn a line from the previous daily swing lows which were the origin of a large (40% and 27%) up-move. A daily close below these levels signifies a bearish break in Market Structure. The "Tesla Buys Bitcoin" candle - the significance of this region of price is that there is A volume inefficiency (Price has only traded upwards through it, never down into it) People who bought Bitcoin based on the news are still in profit. A drop below this region can easily cascade into more selling as these news-buyers begin to close their positions to avoid further losses. Assuming we can't bounce off of this volume gap, I'm looking for a reaction at the $42k weekly swing low, the $38k top of the weekly order block, and the $36k bottom of the weekly order block. If we close below the " Tesla candle" on a high timeframe, I do believe we may be in a short-term bear market. If this happens, expect altcoins to take a dive as well. Will, OptionsSwing Analyst
by optionsswing
1
#Bitcoin Swing short Bitcoin is being Bitcoin hence not trading it from the past week, wicks on both side Exchanges are the only ones making money, retailers are f**ked entering a swing short position here on BTC with 2% account risk, looking at possible Super #Bart (#SFP) 3Drive is still valid also, there is a possible H&S in the making, once we break the Mid support line on the parallel channel I will be more confident with it till then risk small as any trades here are PURE GAMBLE!!
Short
by Bromadic
Petronet: Trend Decision Build-upAt large the stock is in a continuation phase currently and is expected to consolidate further given its possible pennant structure. However, the supply zone has been tested multiple times in the last 7 trading sessions combined with higher lows at each test. This may cause an untimely break in the following trading session which in turn will provide a good bullish momentum. On the other hand, if the intraday support above the demand zone is breached upon swing failure at the currently marked resistance, the stock will surely present a scalping opportunity at the bare minimum. Additionally, any test in the demand zone is likely to continue its present bearish trend. The dual indecisive but extreme technical possibilities are also mirroring the fundamental image of the company's underlying commodity i.e. energy. Hence, it provides an additional conviction to this idea.
NSE:PETRONET
by AdarshMotwani
Crossroads for BTC folksOkay, what can we say about BTC today guys? Well, the one who didn't notice that absurd first 4h candle of the session was sleeping in a cave, but otherwise? We are once again in the presence of a swing failure pattern, folks, it is usually a reversal indication but with the BTC it is better not to take this for cash. The trouble area at the moment is still the same since it was broken down two days ago, between 7220 and 7275. The Bitcoin has tried several times to break the latter during this session without success so far. The indicators? While on short-term horizons like 1 hour, these latters evolve towards their overbought zone, in 4 hours the crossing has just been done. The technical situation is therefore rather positive in 4 hours and still neutral in daily with a WaveTrends that has still not crossed upwards. What do we do now? If BTC succeeds in breaking ( in closing) its resistance zone, a long on pullback is possible in order to target the 7400 level. Otherwise, a return to the 6800 seems to me unfortunately inevitable and we will then try to open a short position on retest of broken support. Take care of yourself, guys!
BITMEX:BTCUSD.P
by ArnJuDQ
BTC/USD 1H/1D charts (12/11/2018)Good morning, traders. Bitcoin never could get going yesterday and isn't looking too strong at all today. As a matter of fact, we are currently seeing a bit of a sell-off as I type this. However, we should zoom out to the 4H chart and note that volume has continued to drop on the reactions and rise on the rallies since November 14th. Not only is the volume dropping on the reactions, but the candle spread has also been decreasing during those reactions as well. As I have pointed out numerous times, this is a sign that the current trend is exhausting itself. That doesn't tell us exactly when or where the trend will reverse, only that we should be aware it is growing increasingly likely that it will do so sooner rather than later in the grand scheme of things. So where does that leave us? The current swing low is sitting at $3210 on Bitstamp. A close below this level on the 4H or higher TF should signal a move down to $2900/$3000, which was the swing low region of the September 2017 correction. However, beware of a drop below and subsequent close above $3210 on a 4H or higher TF. That would print a bullish SFP that should send price upward, at least in the near-term. Price closing above the swing high of $3633.20 should signal upward momentum, but there has been significant activity in the $3600-$3800 range indicating resistance waiting in that area. So, traders would still need to remain careful. Because of this resistance, we could see a bearish SFP print which should send price downward, at least in the short term. I will be looking for price to target the 4H R1 pivot at $4025 if price closes above that swing high while keeping in mind the resistance as spoken about. Looking at the charts another way, there is the possibility that the ascending channel that price is in the process of printing at this time on the 1D could be a bear flag. A breakdown of this flag would signal likely further downward price progression. The 1H chart shows the TR that has been playing out for the past four days. Traders should be mindful of the descending black channel that price is attempting to print. A close above the possible channel's resistance would indicate likely further price advance, however we could see price continue below the SC before then as price prints a Spring which would most likely also print the bullish SFP I mentioned above. We would want to see low volume on the Spring when compared to the SC. As always, a Spring isn't required so we could see price moving through the channel's resistance from its current location as well. This would print an LPS at this level and we would be then looking for a move above the TR's resistance in the form of an SOS. The descending solid red line is ultimately what we would like to see price moving above to increase the likelihood that price is heading up rather than down in the larger picture. In that case, the noted possible double bottom would be the left shoulder and the head of the IHS. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1