ETHUSD is obviously :
retracing its impulsive movement
finding a level of acceptance.
Blockchain traders can cheer at the bull acceptance @ 0.618 fib level and be optimistic for a new high.
However, it would pay the CFD traders to patiently wait for :
Observable buying structures
Test of 1200,1050 or 900 USD support level.
#deadbonewillriseagain.
BNB is creating a 2 way trading perspective - Buy sell limit option.
You can buy now and hope for profit @ 260USD.
Perhaps the trades resulted into loss , you give up @ 180 and instantly join the bears for a profit @ 140 USD
Enjoy your trading week.
#BU … Trades above $50k matters for long term buyers … sellers can only run out of steam only if the triangular pattern got smashed and overwhelmed by bullish structures…
BTCUSD Update
The rejection at the $50k price level is a validation that the trading area matters to both buyers and sellers.
Since a bullish continuation pattern is in place, making a conclusion that BTC blockchain traders are aiming for another high (maybe $70k) won’t be a bad idea.
Opting for an instant buy order is cool. But waiting for the retest of the observable support level: $46- $47k is better.
BNBUSD Update
Cheers! The pair delivered profits accordingly.
The reversal at the profit-taking level seems to be signaling a ranging market structure.
A violation of the $248 swing/demand area can drag the pair to a major support level.
*Selling now is good. But placing a sell order below $248 price level is better by far. *
$215 is a good take profit point.
BTCUSD Update
Yay !
BTCUSD found an acceptance near the anticipated value area - $47k.
Thanks to the mild volatility and the swift 4H MA cross-over.
They all helped buyers to secure buying swing points and obviously the long-awaited bullish structure.
At this moment, buyers are buoyed by the recent trendline break and would obviously defeat the $50k resistance .They are expected to ride the short-term trend till $52-$53k before considering another correction.
Decision rule : Securing 1 buying position now is cool , but making two buying position - @ current price and @ $49,500 is better.
BNBUSD Update
If you can recall vividly, $215 was recommended as a good take profit point for this pair.
Buying pressure at the nearby demand area - $227 has already dashed the hope for taking major gain at $215.
Congrats to those who took profits based on private updates.
It’s worthy to note that the strong demand area is seemingly serving as a launchpad for the pair.
Except for a bearish chart pattern , the pair Northward movement is assured.
*Next resistance levels are poised at $275 and $305 price points. *
They are expected to serve as the profit-taking areas for buyers.
Decision : Buy while the pair value is low.
BTCUSD Update
The crypto pair peaked and began correction at the anticipated value area ($52-$53).
At this moment, it’s gaining momentum for another round of Northward movement.
Despite its slippage off the marked value area(49,500 USD), the pair still got the attention of intermediate trend riders.
A two bullish candlestick set up is gradually giving hope that the crypto buyers forces would outweigh sellers forces.
If the crypto pair buyers can successfully reclaim the $50k value area and trade above the 51,500 USD price point, the coin will obviously maintain a bullish momentum till $54k - $55k and create another swing point.
It’s important to note that the third swing point in a channel is not reliable. If you must short the coin for another round of profitable trade, you must consider some other trading apparatus.
Overall sentiment: Bullish
Decision rule: Buying the pair now is more preferable to taking a “long position at a high price point”.
ETHUSD Update
The pair dip didn’t come as a surprise.
If you’ve been following this pair update here, you will understand the situation better.
At this moment, buyers are able to secure a visible and feasible trading structure for the next level.
A trendline break can of course help the coin price shoot higher.
Gains are expected to be taken at 1700 - 1750 USD.
Since the third swing points are not always reliable, a spike can push the coin price to approx. 1900 USD.
**Sentiment: Bullish **
Decision rule: Buy now or wait for a trendline break. If you must give up on unexpected drawbacks, let it be around 1428 USD
BNBUSD Update
The symmetrically formed triangle is sending a message of hope for both buyers and sellers.
However, it pays to stay firmer at the buying position; the coin will mostly leverage the bitcoin force.
*Next resistance levels are poised at $275 and $305 price points. *
They are expected to serve as the profit-taking areas for buyers.
Sentiment: Bullish
Decision: Buy while the pair value is low.
BTCUSD Update
Since the buyers failed to reclaim the $50k value area, the BTCUSD price has no choice but to opt for another round of sales.
It’s worthy to note that Jerome Powell’s speech also played a good role on BTC - USD exchange rate value ; the Fed boss speech gave spoke more about optimism than pessimism.
Since the descending triangle is still much in place, it’s still early to conclude that the “buyer has run out of steam”. While the trendline break matters for buyer entries, the break of $45 - $46 support levels counts for sellers.
**Overall Sentiment: Bullish **
Decision rule: Neutral vs buying @ bulls territory ( trendline break or reclaim of 50k area)
ETHUSD Update
It’s still about the trendline break.
As long as the market trades below the correctional trendline, ETHUSD will keep moving Southward
**Sentiment: Bullish **
Decision : Testing the waters for buy order @ 14xx territory is recommended.
BTCUSD Update
The currency pair is gradually grinding higher.
At this moment, the $45 - $46 support level is serving at a strong swing point for a bullish channel formation.
Likewise, the trendline break is resonating with the symbolic appearance of a descending triangle.
In a few hours /days, buyers should be filling the BTCUSD blank cheque with lots of buying orders.
For a day trader, opting for a 1:2 RRR ( risk-reward ratio) would really help in bagging some $$ from the market uptick.
Such a decision implies that a trade risk of $40, $400, $4000 can yield a reward of $80, $800, and $8000 respectively.
N.B : A correction is likely around $51000 value area ( rationale : support turn resistance)
Sentiment: Bullish
Decision : Opt for a buy order now or limit order at @ 48000. TP 1 : $51K TP 2 : 55,500 USD
ETHUSD Update
Eth. is quickly recovering from its dips.
Just like BTCUSD, the pair transactions are enclosed in a North-oriented channel.
Such structure indicates that there would be more buying pressures in the coming days.
The pair is envisioned to peak at 1810 USD ( 1: 1.5 RRR).
Sentiment : Bullish
BNBUSD update
Recall that the recently formed symmetrical triangle sent a message of hope for both buyers and sellers.
We leverage the market momentum of BTCUSD to anticipate the future value of the Binance coin.
Unfortunately, the fundamentals (Jerome Powell speech) favored the sellers and the market maintained its bearish tone for up to 24 hours.
So far the stop loss is still below the support level - $200 , there shouldn’t be a reason to panic about the current loss.
Currently, we’re relying on the blue and red trendlines to form a market sentiment.
However, we’re optimistic that the pair will edge higher.
Sentiment : Neutral
Please is there anyone who uses the analysis on this page for decision making?
Good …thanks ma
Following along, not trading much though. Need some more money. Got any?
BTCUSD Update
There wasn’t an update in recent days because the exotic coins played according to the scripted analysis.
If you’ve been following the pair movement in recent days, you must have seen how the USD strength weighed on the coin value.
Currently, the buyers are in control of the market.
Such a condition is expected because the intense selling pressure landed the pair in an oversold region.
Please note that selling till $48 and below can be averted only if buyers are able to push BTCUSD price above the $59k resistance area (and also form a good tradeable structure).
Until then, the sentiment still remains bearish.
