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Bearish Patterns

Bitcoin Bearish Divergence Target $30,000 ?#Bitcoin Bearish Divergence Into Play CRYPTOCAP:BTC showing concerning signs, but I remain long-term bullish despite short-term uncertainties. Bearish divergence + RSI below resistance could spur pullback if $44k fails. If so, watch $43.5k-$44k level. Lose that and we may see $30k But hold> $44k = rally to $51k. Weigh scenarios carefully friends. ➡️ Bearish divergence forming ➡️ RSI struggling below resistance ➡️ $44k Critical Resistance ➡️ Below that could hit $30k ➡️ But over $44k keeps $51k+
Short
by CryptoPatel
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23 Jan ’24 — 5 strong RED candles & a broken support - Nifty50Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “Nifty was unable to get into the ascending channel despite results from RELIANCE and major banks. We suspect some weakness is haunting N50. It could completely be news/event-driven or related to the build-up for the budget session. The selling figures from the institutions may be because of this. From a technical analysis perspective, Nifty looks range bound between 21913 and 21491. Falling below 21491 could auto-trigger further shorts and it could even be an avalanche.” 4mts chart Last week you saw a 2% fall in Nifty and today it was just 1.54% but the “real intensity” would be missing if you just looked at the headline numbers. Today Nifty fell a whopping 559pts ~ 2.57% HOD to LOD. The gap-up would have trapped a lot of traders today. Most of them would have come ready to hit the BUY button after the euphoria from “Ayodha Temple Inauguration yesterday”. Or it could just be a profit booking as the event is over, we need to understand the run-up to this level was more than ecstatic. 63mts chart We broke the 21491 support by 12.24. Just look at the strength of the candles today - 5 RED candles followed by a Doji. Our stance changed from neutral to bearish as soon as the support was breached. The bullish channel looks broken and maybe it is time for bears to launch their attack. Ayodhya's Inauguration was on 22/1/24 and Nifty ATH is 22124 - guess both these numbers are here to stay for a while. 21038 is the next support followed by 20774.
NSE:NIFTYShort
by viswaram
11 Jan ’24 — The bulls of BankNifty has run out of fuel!BankNifty Today Analysis - Stance Bearish ⬇️ Look at what the Gap-up did today to BankNifty, it messed around with the resistance level of 47539. Was it a genuine break? Absolutely NO. Would that have shocked the Bears? Absolutely YES. Gaps are the easiest option available for the manipulators to scare off the retail crowd. 4mts chart link Again the 280+pts quick dip between 14.03 to 14.15 looked quite serious. But the dip buyers made it look like a blip over the next 15 minutes or so. Looks like BN has run out of fuel for any upmoves. 63mts chart link BankNifty is really waiting for a trigger to fall. The tiredness of the bulls is a welcome message for the bears to do their thing. Our stance continues to be bearish for tomorrow despite the neutral day today. Only when the stance of both Nifty50 and BankNifty is in the same direction - we can expect a trending market. Nifty50 could pick a direction due to NiftyIT results tomorrow, if it is down - then it will pull banknifty along with it.
NSE:BANKNIFTYShort
by viswaram
10 Jan ’24 — Banks did not have the bull-punch today despite N50BankNifty Weekly Expiry Analysis Between the last expiry and today, BN fell 383pts and most importantly breached a support level (47539). Even though the start of the week was good, the bulls gave away the control to the bears by Friday. 16mts chart link BankNifty Today Analysis - Stance Bearish ⬇️ Unlike Nifty50, BankNifty did not have a strong pullback today. There was no wedge like formation, but the negativity was missing totally. The open was gap-down from which BN recovered decently and then remained range bound. BN was trading in green for most of the time today. 4mts chart link BN is not out of the bearish hold yet. The first thing that has to be taken care of is the 47539 resistance and the best way to take that out is via a gap up. It has become quite predictable these days, the way to go past a level is via a gap-up or gap-down. Neither the bulls nor the bears have the nerve to battle it out during the trading day. 63mts chart link Our stance remains bearish even for tomorrow. Will switch to neutral if we have a 63mts candle above the resistance level marked in blue. Even though we have the Nifty50 expiry tomorrow, the options premiums are looking pretty dead. Hoping BN strikes will have some juice for tomorrow.
NSE:BANKNIFTYShort
by viswaram
08 Jan ’24 — Nifty Breaks the Trendline This Time — PostMortemNifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “Our stance is still neutral with equal possibilities in either direction. Since Nifty50 is following the ascending channel’s top trend line — the chances of going up look more probable. To go down — we need news flow/event as there is no technical weakness.” 4mts chart link The gap up open today and a thrust upwards gave the false impression that we might have an up day. What happened on the contrary was a breach of the trend line. See the circled portions on the chart. At 09.47 the attempt was unsuccessful but at 10.51 the support gave away. Once we breached it, the price action started to pick up momentum. 63mts chart link The breach of the upper trend line of the ascending channel is quite visible in the higher time frame. Ideally, it is not a pure bearish signal as we are technically still in the bull market. We are changing the stance to bearish from neutral for the ultra-short-term only. If Nifty50 manages to crawl back up the top line - we will have to reverse the stance to neutral. In case Nifty manages to fall further - it will be interesting to see how it reacts to the bottom line of the channel.
NSE:NIFTYShort
by viswaram
03 Jan ’24 — Nifty gets a stance change, Bears are back!Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “The first target for a trend change will be the breach of the ascending channel top line approx 21530 levels. From a technical analysis perspective, we had the 3 black crows at 14.30 yesterday and the first 2 candles today.“ 4mts chart link We got our first target of 21530 hit today and as soon as the channel top line got breached - the stance changed to bearish. Technically Nifty is far ahead of BankNifty as N50 has only broken into the channel whereas BN has broken out. The status change is just because of momentum that is favoring the Bears. Come 2024 and they are back! 4mts chart link NiftyIT deserves a special mention, it fell a whopping 2.59% today. There is severe competition going on between NiftyIT and BankNifty on who wants to become the “leader” in trend reversals. 63mts chart link On the higher time frame, you can see how N50 is just entering the channel. If the conditions stay like this for tomorrow - we can see a good trending move tomorrow. The first threat to keep in mind is the rejection that came on 21st Dec when N50 bounced from the channel topline. Global macros are much worse today and we are hoping tomorrow’s expiry should belong to the bears. Our first target will be 21409 and then 21310.
NSE:NIFTYShort
by viswaram
MOVR/USDT -70% Retracement Need for Future Growth$MOVR Impressive Rally: From $4 to $11 in a Flash! In the world of #cryptocurrency the price movements of tokens can sometimes be as thrilling as a rollercoaster ride. In this post, we'll discuss the recent journey of #MOVR and its potential future trajectory. From Nov 2021 to Oct 2023, MOVR experienced a steep decline of 99.35%, dropping from a peak price of $540 to a low of $3.60. However, the token made a stunning comeback from Oct 2023 to Dec 2023, surging by an astonishing 1132% (11x) and reaching a new high of $44 form $3.60 Bottom. As we look to the future, there is a possibility that MOVR perience a retracement to the $10-$12 range before the next leg upward. Waiting for a good entry at a dip can often lead to more favorable returns.
Short
by CryptoPatel
22nd Dec ’23 - BankNifty's trades today were logical & realisticBankNifty Analysis The trades on BankNifty were more practical and appropriate to the situation we have at hand. 4mts chart link - click here We opened in line and then tested the top of the ascending channel from 10.03 to 12.03. There was rejection at those levels which took BN quickly to the bottom of the channel. We spent 13.43 to 15.11 at the lower end before breaking down. Even though the closing was below the channel, we ran out of time for conclusive evidence. Yesterday we went with a neutral stance believing BankNifty will be able to lead the fight for Nifty50 today. What really happened today was NiftyIT taking the pole position and BankNifty breaking down. 63mts chart link - click here The last 4 candles of today were in RED and we ended just below the channel. For Tuesday, I wish to go with a bearish stance. So at present, my directional view for both Nifty and BankNifty is bearish. Since we have a long weekend - anything could happen when we reopen on Tuesday. I have not taken any positions overnight and decided to play as per the situation after reopening.
NSE:BANKNIFTYShort
by viswaram
21st Dec ’23 - Nifty50 Retraces 50% of Yesterday’s FallNifty Today Analysis Recap from yesterday: “The price action on the 63mts TF does not look bearish per se. But notice the weight of the RED candles — we retraced right up to the ascending channel top envelope.” 4mts chart link - click here Nifty started the day on a negative note fell to 20976 and then started recovering. The recovery was so strong and convincing that there was no level of hesitation or indecision in between. When the day ended and the price actions were recorded on the chat - it seemed like the domestic institutions came ready with their chest to pump in new buy orders. From a technical analysis perspective, we cannot hope that dip buyers will step in and do the needful. The best I could do was to draw a Fibonacci retracement level. The final close stands at the exact 50% retracement level. The right setting for a bearish continuation should have been below 21211 ~ 38.2% retracement. The main sector that spoiled the bear’s party today was BankNifty. 63mts chart link - click here Nifty50 takes support right at the ascending channel showing the inability of bears to overpower the bulls. I am inclined to change my stance to neutral with the developments of today. Giving the bears one more opportunity to prove their mettle, hence going with the bearish stance for tomorrow as well. All they have to do is keep Nifty50 below 21200 in the opening 2hrs for the momentum to kick in - that may require a gap down of 50+ points. Seeing how the US markets have reacted to their GDP report (strong green) - the only thing that could put them in RED would be some pointers by FED saying “...no rate cuts in 2024”
NSE:NIFTYShort
by viswaram