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Took DOGEUSDT as an exapmple but can be applied to other crypto tickers like BTCUSD Look at the average volume in the past 8hrs and look at the outlier. A lot of sell volume effort has been made and the result is a long wicked candle. Meaning the buy pressure is still here, many had limit orders waiting. Meaning the effort is inconsistent with the result Meaning the downward continuation should not be possible.

SAILOR bought and market has been extremely intense the last few days, this current candle formation indicates more buy and no sell. After 85K is stabilized next stop is 87k .

Elections were coming, this level was rejected several times, we waited and look at us now. Patience is golden

Bitcoin (BTC) has experienced significant volatility and a notable downtrend over the past few months, as evidenced by the daily chart from Binance. Main points: Price Action: BTC has been trading within a descending channel since March, with lower highs and lower lows forming a bearish trend. But this bear trend will pay and will pay big with patience because usually , descending channels break on the higher side and vice versa. Support Levels: The chart highlights multiple touches of the lower boundary of the channel (marked by orange circles), indicating strong support levels. However, each bounce has been followed by continued downward pressure. Resistance: The upper boundary of the channel has acted as persistent resistance, capping upward movements. Recent Performance: In early August, BTC experienced a sharp decline, breaking below the previous support level around $55,000. Current Price: As of the chart's latest data point, BTC is trading at approximately $54,787, showing a slight recovery from the recent low. Volume: While not explicitly shown, the presence of long candles suggests periods of high trading volume, particularly during significant price movements. Market Sentiment: The overall trend remains bearish, with buyers struggling to maintain momentum after each support test. The repeated failures to break above the descending resistance line indicate persistent selling pressure. Outlook: Watch for a potential break of the current support level around $52,500. A decisive break below could lead to further downside, while a strong bounce might signal a short-term reversal. However, for a bullish outlook to materialize, BTC would need to break above the upper channel boundary and the horizontal resistance around $72,000.

Traders, Let's break down the current Bitcoin/USDT chart on Binance, using the Heikin Ashi candles for a clearer trend perspective. Market Overview: #btc has been on a downward trajectory since mid-June, with the recent price action showing a sharp decline. We're currently trading at $56,530 as of July 6, 2024. Trend Analysis: The long-term uptrend that began in January has clearly lost steam. We've seen a series of lower highs and lower lows since March, indicating a shift to a bearish mid-term trend. The recent candles are predominantly red, signaling strong selling pressure. Key Levels: Support: Look for potential support around the $54,000-$55,000 range, which aligns with levels last seen in January. Resistance: The immediate overhead resistance sits at $60,000, with a stronger barrier around $64,000-$65,000. Targets: Upside: Short-term relief rally target: $60,000 IF bullish momentum returns, watch for $65,000 Major resistance and potential reversal zone: $70,000-$72,000 Downside: Immediate support target: $54,000 If bearish pressure continues, next major support: $50,000 Worst-case scenario in this cycle could see us testing $46,000-$48,000 Recommended trading strategy: Short-term traders: Look for oversold bounces, but be cautious of the overall bearish trend. Long-term holders: Consider accumulating on dips if you believe in BTC's fundamentals. Always use proper risk management. This market is showing high volatility.

Ladies and gentlemen, this is your captain speaking. We've successfully landed our short trade at the 56,000 USDT runway, right on schedule. Please keep your seatbelts fastened as we may experience some turbulence in this crypto airspace. Our technical analysis instruments are showing some interesting readings. We might be clearing for takeoff soon, with potential bullish altitude gains targeting the 59,700 USDT and 61,400 USDT flight levels. However, be advised that sudden downdrafts could take us back to test the 54,000 USDT support zone. Remember, the crypto market is like flying through a thunderstorm - exciting, but unpredictable. Keep your tray tables in their upright and locked positions, and your stop-losses tight. We thank you for choosing Sublime Airlines, where every trade is a new adventure. Stay tuned for further market announcements.

All right folks, we are out of the channel and we might just be witnessing the confirmation rejection from the upper side and this ...with an order block , which means buyer interest is heavy. Now because we go into the unknown we can only base our targets on projections, and what better projection tool than the good ol' fibonacci retracement. Targets in sight - $72.5k ,$80k and $84.5k ish For the stop loss we are taking the 0.66 support with some aditional margin of error. That's it , short and concise.

Took a chance and entered sub 15 levels on the "orange" dot, basis was post FED announcement positive price action, BTC retrace and heavy influx on the order book. Risk was paid in full this time. Has a lot of potential mid term.

Even if the market is euphoric, we need to watch certain levels. In this example , AVAX is clearly displaying an ascending channel and not is in the lower range. Current major support at $38 and a possible high of around $45 . Entering without confirmation is not advisable, I would wait for a reversal pattern or the failure of support before entering a trade.

It’s been a while since BTC needed a real thorough update , as price action was linear and frankly we were in a version of easy mode of the market. Today we wanted to catch your attention on the current price action and chart formations. After the market sell off kindly provided by a group of whales last week, the price action has been scribbling around and formed a nice triangle pattern format. Now this triangle pattern is treacherous because it is a well known formation and knowledgable and capable traders (and bots) can take advantage of. In the image you can see the projection of the breakout of this pattern. For those that are not used to this kind of breakout, the dotted lines are the projections of the height of the base of the triangle. We placed projections both ways to give you an idea of the outcome this might have. To further enhance our analysis we have also chose to add our favorite fibonacci levels that you should probably be used to if you are one of our fans. On the upside we have a moderate correlation of the projection line with the 1.66 so this is a +1 on the bull scenario On the downsides we have another +1 for the bear scenario due to the moderate correlation of the projection with the point of confluence which is also known as the POINT OF RETURN So +1 bear +1 bull but what should our bias be? Maybe «Bias » is an overstatement, or a wrongly chosen word, but we need to take a side if we want to trade. Same thing going on for the open interest that is now mediocre at best. Because the price action in this kind of formation usually breaks at around 75-86% of the formation length, we will assume that the projections are placed correctly. Why do we favor the bull scenario? To keep things short and clear : - Order book is buy heavy - ETF Looming When to enter? Small traders have been burned in the past , with hopes of the prices to go flying when leaving a formation, and I would assume that this is correct like 70% of the time BUT not always, so in order to add a safety measure to the recipe we will only enter when a candle has been closed above the local 0.66 fib . Stop loss at the point of the triangle and the take profit at the 1.66 area. While this is no guarantee, it is surely a safe trade that can produce pretty nice profits with a RR of 3. That’s it for today, hope you liked our analysis, if you did, a like won’t hurt. Keep in touch, Sublime Traders Trading Team