Nice Setup, almost similar to my post.. Once you understand the bigger picture, minor retracement would act as confirmation and entry.
CRYPTOIG
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( BTC ) TRADE SETUP 🚨‼️
$BTC Sellers have increased their activity around the Bitcoin resistance zone, indicating potential downward pressure on the asset's price. Additionally, the breaking of the primary support trendline is a significant technical development that suggests a further bearish outlook may be ahead. For traders looking to capitalize on these signals, there is an opportunity to initiate a short trade. However, it is important to approach this strategy with caution, managing your risk appropriately with a relatively small trade size to protect against unforeseen volatility in the market. POSITION MENTION THE CHART 👇
1. Price is indicating a medium-term reversal to the upside, to target (95k - 103k) price range.
2. Change of Character (CHoCH), indicating a short-term reversal to the downside.
3. Fibonacci retracement & extension, with demand zone for buy order.
4. Confluence of medium-term & short-term Fibonacci, for TP (95k - 103k) price range.
5. Setup for short-term reversal to the downside.
6. Price broke through the supply zone and closed within it. Suggesting the supply level is still valid.
Tips: - Price Action is your best indicator on the chart - Draw levels (Support & Resistance) on the chart, and watch as price reacts around those levels - Treat price level as a Range not an exact point. - Always apply proper Risk management - Keep improving your strategy as you learn
Nice, i agree with you. Almost similar with my post...
TIP: Apply Proper Risk Management and watch as price unfolds
Research Based Content writter
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$WIF best opportunity for long positions it will soon pump as this may be its last dip... however you may do your own research. i am going to start long position with 10x stop loss wold be 0.90 tp will be 1.3
#XmasCryptoMiracles GOATUSDT.P failed its ascending triangle pattern formation, read here..
A failed pattern always presents alternative trading scenarios. Always align your trade with Price Action as price unfolds. Don’t get caught-up in your head as to which direction price should go.
“A failed break occurs when price moves through an identified level of support or resistance but does not have enough momentum to maintain its direction.” - Investopedia
Price has currently broken the support level ($0.5023 - $0.4760) & Fibonacci Retracement level 0.618, next support level is around ($0.4335 - $0.3990) after Fibonacci Retracement level 0.786.
Price could target the resistance level ($0.6420 - $0.6880) within Fibonacci Extension level 0.382 & 0.618, on the condition that it reacts within the order block support level and changes direction.
Tips:
- Price Action is your best indicator on the chart
- Draw levels (Support & Resistance) on the chart, and watch as price reacts around those levels
- Treat price level as a Range not an exact point.
#MarketRebound GOATUSDT.P is positioned for a rebound with the “Ascending Triangle” pattern.
An ascending triangle pattern is formed by a flat upper trendline and a rising lower trendline. A breakout is expected to occur above the upper trendline, making it a potential bullish signal.
“A rebound may signal a reversal in a prevailing downtrend from bearish to bullish. However, it may also be a dead cat bounce, or false rally, that continues to a steeper selloff.” - Investopedia
Price is currently looking for support around ($0.5023 - $0.4760), before a rebound to the upside ($0.6655 - $0.7330)
Tips:
- Price Action is your best indicator on the chart
- Draw levels (Support & Resistance) on the chart, and watch as price reacts around those levels
- Treat price level as a Range not an exact point.
I totally agree with you on BTC. "altcoins may even renew their bottom" also refers to OrderBlock & Retest
Gdpredador
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as I said. altcoin is buy. but you owe a trap. bitcoin should sink to $86k or $76k, the flow in altcoins is completely buying. Bitcoin's dominance has seen a sharp decline. but if bitcoin spills. altcoins may even renew their bottom. as a mere trap to generate panic. and then they will explode. but before that bitcoin will drag everyone down to generate panic.
“The distribution phase is an emotional time for the markets, as investors are gripped by periods of complete fear interspersed with hope and greed as the market appears at times to be taking off again.” - Investopedia
Price is currently looking for support around ($90,000 - $86,000), before a rebound to the upside ($102,000 - $105,000)..
Before it continues the downward trend to find support around ($74,000 - $68,000).
Confluence with Pivot Point signifies a strong support level.
Tips:
- Price Action is your best indicator on the chart
- Draw levels (Support & Resistance) on the chart, and watch as price reacts around those levels
Futures is your best bet if you want to become profitable in the long run. With proper risk management, high time-frame analysis and discipline, you'll be fine.
MR SAFI KHAN
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I have $497 in my Future Wallet. Should I trade in Futures, or should I buy coins in Spot? Any suggestions?
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