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Bearish Trend Line

BTC - D1 - PRIMARY DOWNTREND LINE RESISTANCE BROKEN ... BUT !Good morning to all my followers and others as well :-) Today, we are going to carefully looking at the daily time frame where for the first time the primary downtrend line resistance has been broken on a daily closing ! This should be seen as a positive signal but should also be considered cautiously for the time being !!! Why ? 1) There are potential bearish divergences in progress on several indicators; 2) Lagging line has not broken the clouds resistance zone and is still in the clouds (neutral); 3) There is also a potential double top in progress. Therefore, following the breakout above mentioned, it will not be surprising to see a pullback price action toward the former downtrend resistance line, currently around 40'500; interesting to note that this level also coincides with the TS or conversion line @ 40'630 . Today's closing level should already give some additional clues for the upcoming session (s). Watch also carefully price action on shorter time frames which are already showing bearish divergences... Should my expectation be wrong, next resistance level to look at will be on a weekly basis at : 1) 43'813 (MBB) - intraday high so far 43'960 2) 46'747 (KS) ONLY A WEEKLY CLOSING ABOVE 46'747 WOULD NEUTRALISE THE ONGOING DOWNSIDE RISK IN OPENING THE DOOR FOR FURTHER UPSIDE TOWARDS 50'000 AND HIGHER LEVELS AHEAD OF THE HH @ 64'895 If you find my analysis value added for you please do not forget to like it and if you do not follow me yet, please, also add Ironman8848 in your following list. Many thanks in advance. Have a great weekend, have fun and take care, all the best and may your long goes up and your short goes down :-) Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
2
JICPT|BABA terminated downtrend, ready to go up! Hello everyone. As I expected my previous idea of BABA, it managed to conquer the downtrend line with a higher high pattern. What's next? From the daily chart, it might dip a bit or go sideways to accumulate momentum before retesting the long-term MA in red color again. I think I've listed enough reasons for the bullish setup after the weak performance of over 230 days . With limited room to go down, my trading target is over 255. Stay safe and trade safe! Give me a like if you're with me.
NYSE:BABALong
by JICPT
9
JICPT| BABA is likely to establish a bullish uptrend!Hello everyone. BABA has been down for 239 days from its historic high created last Oct. Now, Price has dropped to weekly key structure. From the day chart, I observed that price seems to refuse to create a lower low. That suggested that momentum is accumulating to the upside. So, price rebounded to challenge the downtrend line which BABA failed to conquer since its peak. My trading plan is as below: 1. If the downtrend line as well as the 220 level is firmly taken out, then I will be very interested to buy long. 2. If price fails to break the downtrend line, then just wait. What's your opinion? Give a like to support my idea.
NYSE:BABALong
by JICPT
TRUST WALLET TOKEN TO RIDE BACK TO $0.5Right here is a downward channel with price testing the support trendine. If price does not break this trendline, I expect a bullish movement back to the upper trendine (resistance). What do you think? Share your opinion in the comment section✍️ Please support this idea with a LIKE👍 if you find it useful🥳 Follow me to receive more updates on this pair🤙 Happy Trading💰🥳🤗 Trading Involves High Risk⚠️ Not Financial Advice💸 Use Proper Risk Management💹 Thank you for your support!💓 NB: If you would like to have one-on-one interaction with me about analysis of coins or currency, DM me.
Long
by PetrockTheAnalyst
Nice Short From Resistance LevelA simple trade; Met with daily resistance from the channel's resistance line. The candlesticks are being more than generous this time by showing their act. A good short, increase the stop loss a little more if you want to be more conservative, avoid any RR below 5. Don't go for the take profit near the support channel line because the price can bounce back to a supply zone from the white rectangle as the demand is strong there. Avoid risking more than 0.5% on the trade, apply a good risk management rule. I will try my best to increase our capital by 10% per week. Let's see how it goes.
Short
by VeerForex12
BTC - D1/H4 - ONGOING BEARISH PRICE ACTION !D1 : Yesterday's price action triggered a hammer ! Unfortunately, lack of momentum did not offer further support for a reversal upside continuation. Indeed, today's ongoing price action is rather showing the opposite, current price action should, of course, be confirmed by the closing level at the end of the day. Today's closing will be very important because it may validate a clouds support breakout or not !!! and the impact will determine the marked direction for the coming session (s). Globally, as shown on this D1 chart, BTC switched from a former uptrend channel (in green) to a new downtrend channel (in red), which means that the trading mode also switch from already a couple of days ! from a buy on dips to A SELL ON RALLY !! Conclusion : No change in my view, I still expect further downside towards 46847 ahead of 42588 In order to invalidate this expected scenario, we need to see a recovery, first of all above the clouds and more important above the MID BOLLINGER BAND, which is, as already mentioned several times, THE LEADING INDICATOR, and which should not be underestimated. H4 : In a ongoing bearish price action (broad downtrend channel), with a secondary downtrend in place. Cluster resistance being for the time being in this H4 time frame around 52400 ahead of former triangle support which became now the new resistance area, currently around 53'200 ONLY A SUSTAINABLE RECOVERY ABOVE 53'200 (H4), WOULD FORCE TO A VIEW REASSESSMENT OF THIS EXPECTED BEARISH SCENARIO
BITSTAMP:BTCUSD
by Ironman8848
EURNZD | Perspective for the new weekI am not certain that the Euro is ready for Bullish bounce in the nearest future as a continuous rejection of Supply zone and Key level since the beginning of the month remains an emphatic sign of a Bearish bias. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand |Trendline Observation: i. Bearish Trendline: The visual representation of line drawn over pivot highs represented on the chart (Pivot I to VI) explains the prevailing direction and speed of price in the last 3 months. ii. The Breakdown of NZ$1.67000/1.66500 area February 2021 followed by rejection of this zone emphasizes the strength of Sellers at this juncture in the market. iii. A further breakdown/rejection of NZ$1.65400 in the coming week(s) should encourage adding to the existing position as the Key level remains a yardstick for Bearish tendencies. Trading plan: SELL confirmation with a minimum potential profit of 350pips. Risk/Reward : 1:4 Potential Duration: 5 to 10 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry