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BTCUSD Technical Analysis

 

Bitcoin closed slightly above $21,835 this morning. Stochastic and RSI are in overbought zone. Resistance is at $22,515, with a hold of this level the price is expected to decline to $20,000 - $18,629.

 

 

Trading idea

Sell targeting $20,000 - $18,600 | SL: $22,515

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Trading Example
You’re seeking to join an existing trend when you trade the Mat Hold pattern. As a result, you’re waiting for the market to retrace in order to jump on board without incurring too many risks. As previously stated, the Mat Hold chart pattern can emerge in bullish and bearish trends. Because it’s a continuation chart pattern, you’ll want to pair it with Fibonacci retracement levels to understand support and resistance levels better.

Limitations of Mat-Hold Candlestick Pattern
The mat hold pattern is difficult to come by. However, it happens occasionally, and the price does not always move in the expected direction when the pattern is followed.

For the mat hold pattern, there is no profit target. The pattern does not show how far the price could go if it moves as planned. Another method, such as trend analysis or technical indicators, or possibly another candlestick pattern, will be required to determine an exit. The mat hold pattern is best used in conjunction with other types of analysis because it can be unreliable if traded alone.

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interesting info

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About us

Solid ECN Securities is a team of experts with more than a decade of experience in trading, IT, and brokerage development. Gradually over the years, we collected priceless information about the market demands. We have learned how to safeguard and secure the trading environment on contracts.

It was in 2017, that we were determined to establish an independent hub to protect our accounts and trades. It was at that time we came up with the idea of Solid ECN Securities. We started with a self-developed platform, but due to the trading demands, the platform could meet our minimums only. Therefore, we stepped up and made it to the next level.

We formed the company and hired more experts to expand the Solid ECN brand worldwide. The pillar of the company is to provide secure trading without discrimination.

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Understanding On-Neck Candlestick Pattern
The On-Neck Candlestick Pattern is made up of two candlesticks: a tall down candle and a much shorter up candle that gaps down on the open but closes at or near the previous candle’s close. The pattern is called “On Neck” because it produces a horizontal line that can be interpreted as a “neckline” or “neck” when the two closing prices are the same (or nearly the same) throughout the two candles.

What is On-Neck Candlestick Pattern?
When a long real body down candle is followed by a smaller real bodied up candle that gaps down on the open but closes near the prior candle’s close, the on neck pattern occurs.  The pattern is known as a neckline because the closing prices of the two candles are the same (or nearly the same), forming a horizontal neckline. In theory, the pattern is considered a continuation pattern, implying that the price will continue to fall as a result of the pattern. In actuality, this happens just about half of the time. As a result, the pattern frequently implies at least a short-term upward reversal.

Formation
Look for the following characteristics to identify the On Neck pattern:

• First, there must be a downward trend going on.
• There must appear a towering black (bearish) candle.
• Finally, the black candle must be followed by a smaller white (bullish) candle.
• The white candle’s close should be virtually identical to the previous candle’s low. Therefore, it should not climb above the low price of the black candle.
• Look for a black candle on the third day to confirm the On Neck pattern and continue the downward trend. A long body, as well as a gap between the second and third days, demonstrate strength.

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BTC USD - monetary pressure on the token may continue

The cryptocurrency sector remains under pressure due to the tightening of the US Federal Reserve's monetary policy and the industry's general problems associated with a significant decrease in the capitalization of market leaders. Investors reacted negatively to the June data of the US labor market, believing that they would remove the last concerns of US Federal Reserve officials and force them to increase the rate again by 75 percentage points, which will lead to additional strengthening of the dollar. In public speeches, representatives of the crypto-currency community are trying to calm each other, stating that the current "crypto winter" will play in favor of the market but this looks like an attempt to find at least something good in the current difficult situation for the sector.

The potential for a further decline in digital assets will remain.

The trading instrument is testing the middle line of Bollinger Bands 20500 but the key "bearish" is 18750, the breakdown of which allows further decline to 15625 and 12500 and 10000.00. The breakout of 21875 (the upper line of Bollinger bands) allows growth to 25000(Fibonacci correction 23.6%), 28125.

Resistance levels: 21875, 25000, 28125, 31250 | Support levels: 18750, 15625, 12500, 10000

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Trading with On-Neck Candlestick Pattern
The security is in a primary downtrend or a significant correction inside a primary uptrend. A long black genuine body is displayed by the first candle. Bearish complacency grows due to the weak market action, while weakening bulls retreat completely. On the second candle, the security gaps down and sells off to a new low, but buyers seize control and boost the price back to the preceding close, but not above it. According to the bears, the bulls were unable to drive the price above the previous close. The bears will seize control of the next few candles, sending the price lower according to the idea. But, as previously stated, this only happens roughly half of the time in actuality. 

Difference between On-Neck and In-Neck Candlestick Pattern
The in-neck pattern, which is also a two-line continuation candlestick pattern, is another option. This is also a bearish pattern in a downtrend with the first candle being bearish. The second candle is a bullish one, with a slightly higher closing price than the prior candle’s closing price. The closing price level shows the distinction between an in-neck and an on-neck candlestick pattern.

• The in-neck pattern indicates that the trend is still bearish and will continue, but it is not as intense or severe as the on-neck candlestick.
• Because the two patterns are so similar, you’ll have to scrutinize them closely to figure out which is which.

Limitations 
The price could move higher or lower with about equal probabilities if the pattern is followed. The pattern’s moves to the upside tend to be larger than the pattern’s moves to the downside. Trading based on the pattern could lead to a variety of outcomes. While a lower breakout is as simple as a dip below the low (or close) of the second candle, the trader must decide whether they consider a move over the high (or close) of the second or first candle to be a higher breakout point. Because the candlestick pattern lacks an intrinsic profit goal, a mechanism of profit-taking must be established. The pattern works best when combined with additional technical indicators and procedures for confirmation.

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ETHUSD - Murray analysis

The ETHUSD pair is trading within a wide long-term descending channel, however, in the last three weeks the decline has slowed down, and the price has formed a sideways range of 1000 -1250. Currently, the quotes are close to its lower limit, the breakdown of which will allow the downward movement to continue to the levels of 750, 500 (the lower band of the descending channel). With a breakout of 1250, growth will be able to resume to the area of 1500, 1750.

The long-term downward trend in the asset remains, however, to strengthen it, quotes need to break through the current side channel. This may take some more time, which is confirmed by technical indicators illustrating the uncertainty of the market: the Bollinger Bands are horizontal, the MACD histogram is stable in the negative zone, and the Stochastic is directed downwards, but close to the oversold zone, which can become a catalyst for a reversal.   

Resistance levels: 1250, 1500, 1750 | Support levels: 1000, 750, 500
 

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How to use Rising and Falling Window Candlestick Pattern

Rising and Falling Window Candlestick Pattern- The support and resistance zones of window candlestick patterns are highly rigid. Therefore, a stiff resistance region is generated in the case of a Falling Window candlestick pattern, which gives a better probability of trade chances on consecutive re-tests of the resistance area. Similarly, a stiff support region is generated in the case of a Rising Window candlestick pattern, which also gives a better probability of trade chances on consecutive re-tests of the support area.

What is Rising Window Candlestick Pattern?

There must be space between the real bodies of two candles to form a Window (whether rising or falling); in fact, even their shadows should not overlap. During an uptrend, a Rising Window is a price gap that forms. The space between the candles represents the distance between the high of the previous candle and the low of the current candle. This trend indicates that the bulls are in control, and we can expect them to keep pushing the price higher. Examine the size of the gap to acquire a better understanding of the pattern’s message. For example, a high gap denotes a significant price increase, whereas a small gap denotes a modest (and unimportant) price change.

Formation

The Rising Window, also known as a “gap up,” appears when the price continually rises, and it is always regarded as a bullish signal. So don’t be startled if you see the Rising Window; it’s a common occurrence (though not as often on charts with longer time scales).

Because this continuation pattern is so simple and common, make sure you look at it carefully to understand what it’s trying to tell you. Small details can have a significant impact.
 

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XRPUSD - positive court news supports XRP

Today, the price is attempting to rise against the backdrop of positive judicial news for Ripple. Earlier, the court rejected the requirement of the US Securities and Exchange Commission (SEC) to recognize the comments of the former head of this regulator, William Hinman. During his tenure, Hinman stated that the SEC does not consider Bitcoin and Ethereum as securities, and therefore XRP, since it is not very different from ETH. If this can be proved to the court, then Ripple is likely to win the dispute with the American regulator. However, positive court news is unlikely to lead to a significant increase in the pair, since the cryptocurrency market is now dominated by negative monetary factors. The US Fed continues its cycle of raising rates and may increase them by another 75 percentage points this month, as it still fails to curb inflation. In the event that June data released today confirms an 8.8% increase in prices, the regulator’s actions may become even sharper, which will lead to a new outflow of investors from the digital asset market.

The price is close to 0.293, consolidation below which will give the prospect of further decline to the levels of 0.2441 and 0.1953. A breakout of 0.3650 can cause growth to 0.4395 (Fibo retracement 23.6%) and 0.4883. Technical indicators do not give a single signal: the Bollinger Bands are horizontal and are consolidating, as it happens before a serious price movement, the MACD histogram is stable in the negative zone, and the Stochastic is directed downwards, but approaching the oversold zone, which is fraught with a reversal.

Resistance levels: 0.3650, 0.4395, 0.4883 | Support levels: 0.2930, 0.2441, 0.1953

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Trading with Rising Window Candlestick Pattern
The chart starts with an upward trend. At the commencement of the movement, the bulls construct a gap up (i.e., a Rising Window) to show their might. The uptrend continues for approximately half of the chart, with predominantly white candles increasing steeply.

What is Falling Window Candlestick Pattern?
A price gap in a downward trend is referred to as a Falling Window candlestick pattern. It must happen while the price trend is down, and it is always a bearish signal. This continuation pattern is highly common on charts with shorter time scales, but it isn’t as common on longer time scales.  Because it is so common, it is critical that you pay attention to the peculiarities of each Falling Window. These details can help you figure out how important the signal is and whether you should pay attention to it.

Formation
When the two candles appear after the Falling Window, examine them. A Downside Tasuki Gap pattern, may have arisen if they do not close the window or fill the gap (this includes their shadows). The first and second candles must be bearish, but the third must be bullish in order to qualify.

After a significant downturn (as evidenced by the gap down), the bulls attempted to force the price back up. However, they were unsuccessful, and the decline is projected to continue. The bears can produce a Falling Window candlestick pattern if they gain control. However, the bears, as expected given the indication, fight on and maintain the downturn.

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ADAUSD - Technical analysis

The ADAUSD pair is moving within a long-term downtrend, and this week it was able to break below the level of 0.43, which it had unsuccessfully tested several times for a month and a half. In the future, the price decline may continue to 0.3906 and 0.3418. If the middle line of Bollinger bands is broken upwards, the quotes may rise to 0.4882 and 0.5371.

Further negative dynamics seem more likely, as technical indicators confirm the continuation of the downward trend: Bollinger bands are directed downwards, the MACD histogram is increasing in the negative zone, and Stochastic has entered the oversold zone and is directed horizontally.

Resistance levels: 0.4600, 0.4882, 0.5371 | Support levels: 0.3906, 0.3418, 0.2929
 

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Trading with Rising Window Candlestick Pattern
The chart starts with an upward trend. At the commencement of the movement, the bulls construct a gap up (i.e., a Rising Window) to show their might. The uptrend continues for approximately half of the chart, with predominantly white candles increasing steeply.

What is Falling Window Candlestick Pattern?
A price gap in a downward trend is referred to as a Falling Window candlestick pattern. It must happen while the price trend is down, and it is always a bearish signal. This continuation pattern is highly common on charts with shorter time scales, but it isn’t as common on longer time scales.  Because it is so common, it is critical that you pay attention to the peculiarities of each Falling Window. These details can help you figure out how important the signal is and whether you should pay attention to it.

Formation
When the two candles appear after the Falling Window, examine them. A Downside Tasuki Gap pattern, may have arisen if they do not close the window or fill the gap (this includes their shadows). The first and second candles must be bearish, but the third must be bullish in order to qualify.

After a significant downturn (as evidenced by the gap down), the bulls attempted to force the price back up. However, they were unsuccessful, and the decline is projected to continue. The bears can produce a Falling Window candlestick pattern if they gain control. However, the bears, as expected given the indication, fight on and maintain the downturn.

Bottom-line
We hope you found this blog informative and use it to its maximum potential in the practical world. Also, show some love by sharing this blog with your family and friends and helping us in our mission of spreading financial literacy.

[Solid ECN ✔️]

Solid ECN Securities

Trust Score 4.9
 

[Solid ECN ✔️]

ADAUSD - Technical analysis

The ADAUSD pair is moving within a long-term downtrend, and this week it was able to break below the level of 0.43, which it had unsuccessfully tested several times for a month and a half. In the future, the price decline may continue to 0.3906 and 0.3418. If the middle line of Bollinger bands is broken upwards, the quotes may rise to 0.4882 and 0.5371.

Further negative dynamics seem more likely, as technical indicators confirm the continuation of the downward trend: Bollinger bands are directed downwards, the MACD histogram is increasing in the negative zone, and Stochastic has entered the oversold zone and is directed horizontally.

Resistance levels: 0.4600, 0.4882, 0.5371 | Support levels: 0.3906, 0.3418, 0.2929