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BTC's Future TrajectoryHey there, fellow crypto enthusiasts! 🚀 What's the scoop on BTC? Well, let's dive into the cryptocurrency rabbit hole and share my five cents on the matter, as illustrated on the chart. A Remarkable Year 🚀 The year 2021 witnessed the culmination of a robust uptrend in this pair. When I refer to a robust trend, I mean an astounding increase of 1,500% or more, with the majority of this surge occurring within the span of a single year. The Onset of a Significant Shift 🔰 BTC reached a peak in 2021, only to be followed by a reversal. As evident in the chart, within just 3months, from the end of 2021 to the beginning of 2022, it shed approximately half (50%) of its gains from the highs. The Deceptive Rally 👀 When an asset experiences such a substantial decline over a short period, it often gives rise to relief rallies. These rallies can be quite potent and may even appear as bull markets on shorter timeframes. BTC rebounded by almost 45% from the lows it hit in January 2022, and a significant portion of this increase occurred within just 15 days. However, at the end of March 2022, there was a false breakout from a range, and the trend reversed once again. Second Plunge 🔰 This time, BTC tumbled by over 60% from the highs it reached in the March 2022 rally. The fall's momentum was even more pronounced, taking only 2.5 months to reach this 60% decline. This added up to a total loss of 75% from the 2021 highs. Notably, BTC was testing and holding the 2017 highs during this period. As you might recall, resistance, once breached, can often act as support in the future. However, it was not apparent at that time that the pain was far from over. Another Deceptive Rally 👀 Following the second decline, there was a three-month-long relief rally, amounting to roughly 44% from the recent lows recorded in June 2022. Unfortunately, this rally was nothing more than a bear market rally and the fall continued. The Final Leg: Positive Clues ✅ The last downward move on the chart saw a decline of no less than 39% from the highs of the second relief rally. However, there were notable changes in behavior that can be observed in the chart: 1. The amplitude of the downward move was comparatively smaller than in the previous two declines. 2. The downthrust- distance between lows decreased. 3. The retest, as seen on the chart, failed (taken out) this time, unlike the two previous retests. 4. Breakout of a falling wedge can be seen, which typically signifies a bullish reversal. 5. All of these developments were occurring in the vicinity of the 2017 highs. A Structural Shift ⚡ The chart reflects a shift in structure following the wedge breakout, with higher highs and higher lows emerging. This type of structural change is generally considered bullish. Bullish Outlook for the Future 💰 Assuming that the low has been established, the aforementioned alterations in behavior suggest the possibility of another bull market. Presently, BTC appears to be within a rough range of 25,000 to 31,000. However, the chance of a shakeout at the lower end (around 24,750) cannot be ruled out. A failed breakdown of this level and then an upward reversal should be seen as a buying opportunity. Alternatively, if BTC continues its trajectory without a shakeout, a definitive breakout above 31,500, followed by a successful retest, should also be interpreted as a buying opportunity. This scenario may lead to 46K or highs in the long run. Bearish Scenario 🐻 On the contrary, a decisive break down below 24,700 may pave the way for a drop to 19,650 or even lower. Everything up there is for educational purpose only so, ✌🏻 PEACE OUT and keep those chain vibes strong! 💪 And if you've enjoyed this crypto convo, don't forget to give that "boost" button a virtual high-five! 👍 Keep your crypto radar active by hitting the follow button for more brain-boosting posts and intriguing ideas. 🔔 Your visit's much appreciated, and I am here to learn together in the fascinating world of Bitcoin and beyond. 🙏 Stay crypto-cool! 😎
BITSTAMP:BTCUSDLong
by Bravetotrade
2
Expiry Day Special Analysis 03/Aug/23 || Nifty Hero & Zero TradeGood Morning Traders, i hope you had a good day yesterday, as we have captured huge move in nifty. Well i have brought again analysis on Nifty on Expiry Day. So let's start. Guy's yesterday we have seen sharp selling in all indian indices, even in whole world exchanges were down more than 1% in intraday. The reason was that US Credit downgraded. Anyway we have captured good move that is important as trader right. For today's scenario, Global market still looking bearish, i have seen, it's everywhere red showing. But nifty is on support let's see are we gonna to hold yesterday's low or not. Chances are high we can see some upside in first half and then sailing pressure can come in 2nd half, well predicting now is impossible, that what exactly gonna to happen, but we will trade according to levels or price action. IMPORTANT LEVELS FOR NIFTY TODAY:- Best buy will be when nifty cross above 19632 and sustains at least for 30 mints. Targets we can see in upside 19699/19766++ Keep stop loss at 19561 Best sale levels will be, once nifty breaks 19410 and sustains at least for 30 mints. Target we can see in downside 19335/19277-- Keep stop loss at 19561 Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:NIFTY
by TraderRahulPal
10
Bullish Banknifty || Intraday levels for 31/07/23Good Morning Guy's, i hope you all will be doing good in your trading career. So guy's i have done my analysis on banknifty levels for today. So let's start. In last two session banknifty and nifty and some other indices has given downside rally like anything. But now they all have come at support zone, Banknifty had taken support in the zone of 45227 to 45311 in last trading session, and this was the support zone as previously price also had taken u turn from same area, I think banknifty will respect this area for today's trading session and then we will see some upside towards 46k again. Indicator like, MACD, RSI divergence and 200 EMA, Started giving bullish signal. So chances are high we can see a small bullish rally for upside in today's trading session. Important levels for banknifty:- Buy above 45518, if levels got sustained at least for 30 mints. Target we can see in upside 45654/45844/45911 Keep stop loss at 45241 Note:- Guy's Banknifty have a strong support zone in between 45227 to 45311, So If Banknifty go down and take support and make kind of any bullish pattern then definitely grab it, and keep stop loss at 45075. Chances are high that W pattern or inverted head and shoulder pattern we can see, at support zone. Sale below 45241, if levels got sustained at least for 30 mints. Target we can in downside 45083/44961 Keep stop loss at 45518. Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BANKNIFTYLong
by TraderRahulPal
4
VARROC ENGINEERING WYCKOFF ACCUMULATIONVarroc Engineering is focused on designing, manufacturing and supplying exterior lighting systems, plastic and polymer components, and electrical and electronics components Market Cap : 5000cr Market Cap set your positions accordingly Sector : Auto Ancillary VARROC ENGINEERING is in a 4 month trading range, the analysis done above is through Wyckoff method and we get what looks like a accumulation TR (trading range). PHASE A : The TR got established from 15th September where it did the highest volume since it's IPO in 2018. Labelled the PSY , SC , AR as Upthrust Action followed by a low spread Secondary Test on good volume leaving a wick and closing in green shows hints at some absorption happening that marks the PHASE A and CHoCH ( Change of Character ) the bias for the TR at this point is bullish. PHASE B : Secondary Test on 21st October with huge volume but closed below the AR 319.80 level which shows rejection, at this point we can conclude the price is not ready for the markup phase and still needs to spend some time in TR followed by the price falling off with low volumes and low spread indicating no further new selling but also fall in demand till 16th Nov where the price went below the ST in PHASE A but on low volumes then buying demand came and closed above previous 4 Days close with fair volume and good spread. PHASE C : The hardest part is identifying PHASE C but it is the only thing matters followed by PHASE D in Wyckoff Method. 16th - 17th Nov the stock had good volumes and good spread indicating SOS rally but failed to closed above AR levels , also the following week/month Nifty ( Comparative Index/ Market Proxy ) had faced Volatility on the down side and 29th Nov being the biggest fall in Nifty since 2 quarters but the underlying stock didn't broke the ST(PHASE B) levels. This shows positive jump in Relative Strength and the start of it. On 7th Dec the candle showed some demand and followed buying crossing above the AR, ST(PHASE B) levels giving couple of closes above the TR so we mark the low on 6th Dec as LPS (Last point of Support) and Conclude Phase C. Though we missed our First of Four entry points but given the Volatile Market conditions it was hard to Initiate. PHASE D : PHASE D in the Wyckoff Method indicates a SOS ( Sign of Strength) TR above the previous TR , BU ( Backing Up Action) and LPS/ Multiple LPS. In this stock's case after the SOS rally the volumes cooled off with slide in price we mark the last swing ended as ST=UT because it wasn't a SOS because the price failed to sustain above the TR and came back in the TR , the market proxy faced huge volatility and made a new low from it's previous levels with big spreads but the underlying stock didn't made a new low thus forming a Higher High - Higher low formation showing relative strength even though it closed -9% and the price is now rising with lower spread and volumes, thus we mark the low as LPS. We make a uptrend channel by connecting two lows and the high. Conclusion : Scenario # 1 : The stock still seems to be in PHASE D also trying to cross above 200 Dema and 100 Dema if it shows SOS above 336 we can expect PHASE E (Markup PHASE), CHoCH and we can start a bull campaign and further add positions with trailing stoploss on LPS/Channel/DEMA. Scenario # 2 : If the price breaks Channel we can expect that the stock needs to spend more time in TR. Scenario # 3 : If the price also breaks LPS then the TR can be extended way further or can be concluded as a Distribution PHASE .
NSE:VARROCLong
by nukacola933
BDL stock at cautious level.This is for your learning skills. Already in past to told your how we can avoid false break out. But not always as part of trading. So watch the BDL stock & follow below points for your education & learning. 1) Bullish Break candle at resistance area. 2) Very low volume as compare to previous High volume on bullish candles. 3) RSI not able to cross 60 levels. Daily & weekly also below 60 EMA. 4) High resistance zone near 925. So Risk to reward not good. We may be wrong but rigorously follow our trading plans to avoid loss. Hence, Point nos 2 to 4 are negative biased . So currently we must avoid buying. But if stock retest & move upward again then we can enter in the trade as re-test entries are more powerful move.
NSE:BDLShort
by Tech_stock_trader
2