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Naked_Chart

In the context of forex trading, the concept of "support becoming resistance" refers to a phenomenon that occurs when a price level that previously acted as a support level for an asset's price now switches roles and becomes a resistance level after it has been broken. Here's a more detailed explanation: Support Level: In forex trading, a support level is a...

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BITCOIN has been in a bullish order flow hence it came back to the daily order block and gave a confirmatory buy set up

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Bitcoin 6M candle closes in 6 weeks... Will we get a 5th green candle like in 2017? Or just 4 like the 2012 & 2021 cycles? 🤔 History says: 🟩🟩🟩🟩 66% chance = 4 green candles 🟩🟩 33% chance = 5 This close could change everything. Save this chart if you're tracking it

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On the 4hr timeframe, price created divergence right at the major zone indicating reversal and price went further to break the 4hr trendline signaling bullish and rhyming with the monthly/weekly/daily established bullish bias hence we established a possible entry long on the USDJPY pair.

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price broke trendline + retested the broken trendline, you now wait for lower timeframe confirmation to enter or use your entry model as I've got my confirmation and entry model which I use only for entries after I've established the bias!!

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Price made a wide divergence right at the key level on the daily timeframe + daily trendline break + retest of the broken trendline which further confirms the already established monthly and weekly bearish bias!!

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We established a doji candle that formed right at the key zone followed by the follow through bearish engulfing candle the further confirmed the doji followed by stochastic RSI cross that happened on the weekly which further confirms the bearings bias!!

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Key monthly level spotted but what we liked most was the massive rejection candle close for last month where buyers pushed so much high but couldn't win the sellers as sellers pushed price down that made the past month candle close with little to no body but with long rejection wick candle telling us that sellers took control!

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Bitcoin just popped out of a textbook bullish continuation pattern, 3+ touches on each trend line + Breakout candle confirmed. Pro traders now watch for confirmation to manage risk. Will BTC follow through? 🚀If your bullish!! 📝If your watching closely!!

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On the 4hr timeframe, we noted the key zone + breakout of the rising wedge and the trendline + confirmation candles for the breakout candle that formed afterwards hence we take a quick entry short in this short term retracement and our stoploss above the trendline etc. May the gains be with us all!!

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On the Daily, we established the key zone still lining perfectly on the daily time frame + another wide daily divergence right at the key level + price breaking out from the rising wedge and the trend line all signaling bearish and confirming the monthly and weekly bearish bias!!

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ON THE WEEKLY, we established the major key monthly and weekly zone + momentum loss of candles and appearance of bearish candles followed by multiple candle rejection on the weekly right at the key zone + wide weekly divergence right at the key zone which is very rare!! a week all signaling bearish hence we move to the daily timeframe!!

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ON THE MONTHLY TIMEFRAME, We just established a key monthly level/zone/resistance which is on interest to us.

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On the 4hr timeframe, price former a wider divergence + a falling wedge right at the key zone all signaling bullish bias and you can see as price broke out from the falling wedge and trendline and continued to push higher!!

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On the Daily time frame: We established the key weekly zone + momentum loss + tight daily divergence + daily price action candle formation right at the key weekly son all signaling bullish!!

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ON THE WEEKLY TIMEFRAME, Price was is currently in a clear uptrend making higher highs and higher lows. Price created a major weekly resistance turned support + a clear weekly trendline which also lines perfectly with the key zone + clear weekly price action candle that significantly rejected the zone and the trend line all signaling bullish!!

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ON THE MONTHLY TIMEFRAME, It's obvious that price has been very bullish making higher highs and higher lows and forming strong monthly bullish candles.

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ON THE 4HR TIMEFRAME, We established the key monthly zone + weekly trendline + wide divergence all signaling bullish and hence rhyming with the monthly, weekly and daily bullish bias. Our confirmation will be the break of the 4hr trend line for a possible quick entry long!!