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What is Bullish Marubozo Candlestick ?
A bullish #Marubozo candlestick is a type of candlestick chart pattern that indicates a strong uptrend in the market. It is characterized by a long green (or white) #candlestick with little or no shadow, indicating that the #opening price was the same as the lowest price of the trading period and the closing price was the same as the highest price of the trading period.
This pattern typically indicates a strong buying #sentiment in the market, with buyers dominating the trading activity and pushing the price upwards throughout the trading period. #Traders and investors may interpret this pattern as a bullish signal, indicating that the #uptrend is likely to continue in the near future.
However, it is important to note that no single candlestick pattern can be used in isolation to make trading decisions. #Traders must always consider other technical indicators and fundamental analysis to confirm their #trading decisions.
#COMP did gave a break trade as price breaks below the $56.00 hourly support. Trade moved around 14% in our favor, we recommend to take major partial here and trail the stops with swings to maximize your profits.
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Here's the analysis of #FET :
#FET made a strong rejection over the major resistance level of $0.571 - $0.599. Currently, price is just moving in a consolidation range in between. You can do range trading over consolidation here, and in case of Breakout/ break-below, we've a clean move down till $0.292 - $0.305 major support.
#BTC.D (#Bitcoin Dominance) is kinda stuck between the 43.24% support and 44.46% resistance. Well, #BTC rally down over this week as where #BTC.D sustains, which impacted the altcoins. Now, eyes on a breakout either side, to anticipate the next move. You should also watch #BTC levels, to add confluence to the analysis ✅
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Here's the analysis of #OCEAN :
#OCEAN is been strongly rejected from the strong resistance zone of $0.557 - $0.570. Price fluently moving lower and expected to reach the major support zone of $0.300 - $0.325. You can use this clean move down as opportunity, if hourly TF retraces.
Here's the analysis of #NEO :
#NEO slides above the major level of resistance and again dipped below at $12.00. Its a major resistance again, and daily candle trying to close below it. If daily candle close below it, then price can easily drop till 4H support around $10.00 - $10.25. You can use Hourly chart to use this opportunity.
#Binance Launches the Airdrop Portal
https://www.binance.com/en/support/announcement/4fbe314cab9d49a5a322ee905c62fc05
#BTC moving in the consolidation range and there is not much movement yet. All eyes are on the resistance level. The US stock market is showing recovery and this is a good sign. Keep tight stop loss in all trades as if the price broke the range in a downward direction then we see a quick sell-off.
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Big partnership for Prosper✌️
https://twitter.com/Prosperpredict/status/1628779228660396035?t=25ZbEHtJ5RX62yBnl9YHDw&s=19
#PROS breakout and retest done on higher timeframe and now is the time for big Wave 3🚀 with big announcement around the corner👀
#PROS will pump big this time✌🏻
What is Shooting Star Candlestick ?
The #Shooting Star is a bearish candlestick pattern that forms during an uptrend. It signals a potential reversal in the trend, indicating that the buyers are losing their control and the sellers are starting to take over.
The #pattern consists of a single candle with a small real body located at the bottom of the overall range and a long upper shadow that is at least twice the size of the real body. The long upper shadow indicates that the #buyers were unable to maintain the #upward momentum and that the sellers were able to push the price down from the high.
What Does That Indicate ?
Traders interpret the Shooting Star as a #bearish signal because it suggests that the market has reached a point of resistance and that there are more sellers than buyers at current levels. Therefore, traders may look for additional confirmation of a #reversal, such as a bearish engulfing pattern or a break of a key support level, before initiating a #short position.
#BTC didn't moved alot but break below the triangle to the downside. This small upmove might kinda retest, and overall we can see price building up and consolidation range. If #Bitcoin breaks below $23,500 support, then price have clean room to move lower. Currently, Market is bit sideways now, so you can do range trading here.
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What is Hanging Man Candlestick?
The hanging man candlestick pattern is a technical analysis tool used by traders to identify #potential trend reversals. It is formed when the price of an #asset opens higher than the previous close, but then falls significantly during the trading session, closing near or below the opening price. The resulting #candlestick has a small body, a long lower shadow, and little or no upper shadow, resembling a hanging man.
Traders interpret the #hanging man pattern as a sign that the bullish momentum of the asset is weakening, and that there is a higher chance of a bearish trend reversal.
Note : It is important to remember that the hanging man #pattern is not always accurate, and traders should use it in #confluence with other technical and #fundamental analysis
#BTC rejected from the resistance zone and now trying to break-below of the triangle pattern. Well, thats not a good indication for the market. But candle closing is still pending. We can see price taking support near $23,500 area. Meanwhile, you should wait for clear indications.
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What is Inverted Hammer Candlestick ?
The #inverted hammer is a type of candlestick pattern found after a downtrend and is usually taken to be a trend-reversal signal. This creates a #long shadow or wick on the upper end of the candlestick and a small body at the bottom.
The Inverted Hammer is seen as a #bullish reversal pattern, meaning that it suggests a potential change in the direction of the price trend from downward to upward. This is because the long lower wick shows that the #market attempted to push the price down, but was ultimately unsuccessful, and the #buyers stepped in to drive the price back up.
#Traders often look for confirmation of a bullish reversal by observing price action in the following periods. If the price continues to rise, it can indicate a reversal is underway. However, if the price drops below the low of the #Inverted Hammer in subsequent periods, this may invalidate the bullish reversal signal.
The total amount of #BUSD that is held in exchange reserves has dropped from $14.3B to $11.3B, representing a fall of 21% or $3B.
In terms of market capitalization, #USDT and #USDC have absorbed the majority of the value lost.
#BITCOIN DAILY TF UPDATE :
The major resistance level from weekly TF is same for Daily TF. Price maintaining its bullish structure but now retracing a bit. Currently, price is on a 4H resistance area, and if rejected then we can see lower move till support. Market will remain bullish until #BTC hodls above $21,400 mark.
What is Harami Candlestick Pattern ?
The Harami candlestick pattern is a two-candle pattern that signals a potential reversal in the market trend. It is formed when a small candle, either bullish or bearish, is contained within the previous candle's real body.
A bullish harami pattern is formed when a small bearish candle is followed by a larger bullish candle. This indicates that the sellers have lost momentum, and the buyers are starting to take control. Traders may interpret this pattern as a signal to go long or buy, expecting an uptrend in the market.
On the other hand, a bearish harami pattern is formed when a small bullish candle is followed by a larger bearish candle. This indicates that the buyers have lost momentum, and the sellers are starting to take control. Traders may interpret this pattern as a signal to go short or sell, expecting a downtrend in the market.
Note : This candlestick pattern is less used by the trader, and kinda weak conformations (Specially in LTF [Lower Time Frame])
#BITCOIN WEEKLY UPDATE :
#BITCOIN needs to break and close above the $24,600, on weekly TF to continue bullish. Closing was at around $24,400, and next weekly candle goes down as we saw downtrend this week. Anticipated clean move down till support at $21,150 - $21,400. Daily TF, also indicate the nearly same, so eyes on that
#Bitcoin break below the consolidation range and now smoothly moving lower. Prices now continue to go down till support zone around $22,300 - $22,500. As per market structure, the lowest and final point will the $21,300 - $21,500 support zone. Keep and eye on the mentioned levels and manage the running trades.
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What's the difference between a Hanging Man, Hammer, Inverted Hammer And Shooting Star Candlestick
This is a #common doubt that comes in my like, if Hanging Man and Hammer Candlestick looks same and Inverted Hammer and Shooting Star too, so what's difference?
The differences is the color of the candle and more specifically when it occurring.
Hammer and Hanging Man Candlestick looks the same, but if it appears in #Uptrend then its a #Hanging Man and if its appears on downtrend then its Hammer.
Similarly, #Inverted Hammer and #Shooting Star have the same Candlestick, the only difference is on the appearance, if its on a downtrend then its a #Inverted Hammer and If it appears on an uptrend then its a #Shooting Star Candlestick.
#TOTAL2 UPDATE :
#TOTAL2 Market Cap entered the major resistance as anticipated and rejected too. We saw the reaction over the market in #Alts and #BTC. We still we can say this as an retracement, if market want to reverse then its should break below the 4H Support near about $570B. Best case would be a breakout of the major resistance 📈
Here's the analysis of #LINA :
#LINA sharply pump these days and very strongly rejected from the strong resistance zone of $0.0169 - $0.0174. Price straight away dropped from to the major support zone of $0.0117 - $0.0123. Well, its a not a good decision for entries here and potentially we can see a break below this zone. Take shorts with low risk only.
Prosper partners with crypto giant Polygon (Matic) 👊🏻 which is definitely very bullish for #PRPS✌🏻An Animocabrands project 💪
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#PROS/USDT successfully reclaimed historical support after doing a deviation✌️
Get in for short term profits🚀🚀
#STG dropped to the support, which was anticipated and even does deeper retracement. Price jumped over the support/ reacted from it. If you took buys then you're nearly 8% profits. We suggest to lock-in some profits 📈
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Here's the analysis of #BNB :
#BNB rejected from thr major resistance $333.00 - $337.00 and price creating messy moves as of now. Right now, price is dipping and alts too, so if price breaks $303.00 support then we can see a easy drop till strong support at $286 - $287. You can take this opportunity as shorts scalping 📉
As the market recovers from extended #bear markets, these new #STH buyers return to profit.
We have seen this explosion in #STH profit dominance, indicative of a large #proportion of the coin supply having been accumulated below the current price
Here's the analysis of #DOT :
#DOT is been trading above the major support zone of $6.80 - $7.12. Price is expected to drop back to retest that area. If market remains healthy then you can look for buys on LTF (4H and 1H) for confirmation buys over the major support. Next resistance is at $8.55-$8.80 zone.
QUICK MARKET UPDATE :
Market is kinda of ranging now in a small consolidation and this might due to an very aggresive move. Generally, we see consolidation after such heavy Bullish or Bearish Movement. #ETH and Alts following #BTC, also ranging and active projects moving good and some news based also. Keep an eye on #BTC, if its breaks or rejection the major resistance.