ETHUSD & BTCUSD On 3 Bullish Signals On 1Hr Chart
تم تحديثه
These 3 points usually do determine that a bottom has been found and there will be a reversal in play for a longer term uptrend. Most recently the same 3 signals on the hourly determined the bottom at 6425$ and it got on an uptrend reaching 10500$ and then topping out and reversal back down to these new lows. As for ETHUSD it was at 116$ and both had same signals in play at the same time and the same thing is happening now.
Here is the chart that shows the 3 signals that confirmed the bottom on the hourly and got us on a reversal and an uptrend.
However, only trade with breakouts and confirmations, the manipulators are always out to get you to liquidate longs and hunt stop losses. Look out for the volumes. Good solid breakouts usually happen with good volume otherwise it may just be a fake-out. Never ever fomo in and if the opportunity is missed cause maybe you saw the signal too late or the reversed bounce didn't happen and etc. its okay wait for the next train or look out for the ascending parallel channel trading opportunity where you long at the bottom of channel area and take profit near or at the top area of the channel. Stop losses can be placed just below the bottom line of the channel with some comfortable distance from the line in case the price breaks down suddenly, especially if you are not watching it.
You could just DCA safely or Buy and Sell coins according to the chart movement. Noone can liquidate you and even if you ever get trapped underwater you can always hold them till the next uptrend. Divide your capital into small portions, maybe 10-20 times at least and do smaller trades each time. Depending on how the price movements goes, when it touches and bounces off new supports you can add another small portion and at the same time standby to sell in case a reversal happens and that support breaks. Only add on when you are in comfortable profit and standby to sell immediately upon reversal so you can claim ever profit possible and standby for next buy opportunity.
If i was had spare cash i would most certainly prefer to DCA than to margin trade.
Just sharing my thoughts. Good luck!
Here is the chart that shows the 3 signals that confirmed the bottom on the hourly and got us on a reversal and an uptrend.
However, only trade with breakouts and confirmations, the manipulators are always out to get you to liquidate longs and hunt stop losses. Look out for the volumes. Good solid breakouts usually happen with good volume otherwise it may just be a fake-out. Never ever fomo in and if the opportunity is missed cause maybe you saw the signal too late or the reversed bounce didn't happen and etc. its okay wait for the next train or look out for the ascending parallel channel trading opportunity where you long at the bottom of channel area and take profit near or at the top area of the channel. Stop losses can be placed just below the bottom line of the channel with some comfortable distance from the line in case the price breaks down suddenly, especially if you are not watching it.
You could just DCA safely or Buy and Sell coins according to the chart movement. Noone can liquidate you and even if you ever get trapped underwater you can always hold them till the next uptrend. Divide your capital into small portions, maybe 10-20 times at least and do smaller trades each time. Depending on how the price movements goes, when it touches and bounces off new supports you can add another small portion and at the same time standby to sell in case a reversal happens and that support breaks. Only add on when you are in comfortable profit and standby to sell immediately upon reversal so you can claim ever profit possible and standby for next buy opportunity.
If i was had spare cash i would most certainly prefer to DCA than to margin trade.
Just sharing my thoughts. Good luck!
ملاحظة
Adjust the triangle top as the price moves so you can keep a close eye on it. Adjust till your cannot touch the top line to at least 3 candle wicks or candle close areas.ملاحظة
Another way to look at ETHUSD and BTCUSD current price movements if there are no incoming heavy buy orders is to remain in the descending parallel channel.ملاحظة
Just an update. ETHUSD and BTCUSD trying to breakout now.ملاحظة
Wanted to share some ideas and thoughts on how to use smaller time frames to detect possible important patterns and signals that could give you an early advantage on what to do next. Also giving you an idea what your higher timeframes will look like if the move is sustained in the smaller timeframes. Even possible reversals and new pattern formations can be discovered early.ملاحظة
ملاحظة
Take note that it is advisable after and if the retest bounce above the top of the channel resistance turn support is successful, you might still want to wait out and check if BTC can reclaim the 200MA Weekly level at around 5500 which is very near this price action that is happening. This is also a critical Moving Average that BTC needs to regain for the weekly close candle later today.The 5500 for BTCUSD would be around ETHUSD 130 as if you see the lower time frames both have similar rejection candles at their respective price points.
Good luck!
ملاحظة
Breakout happened. Just remember to keep create your stop loss in profit once you have a comfortable sum. Lots of uncertainty now. Take what is given and be safe. If it keeps going your way to next support, add into order in small portions if you can and immediately keep raising the stop loss in profit so you have a guaranteed sum no matter what happens. There will also be a CME bloody Gap if price goes above 5935 (cme high price on Friday daily candle close) and or lower than 4120 (cme candle lowest price on that same daily Friday candle.So its risky to be holding trades not knowing if the CME Gaps will move the price to cover those gaps which might trap you underwater again if you are not careful.
Good luck and have a great week! Cheers!
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