MATICUSDT → Breakout figure and an attempt to change the trend BINANCE:MATICUSDT breaks through the resistance of the key figure and opens a new bullish potential. If the nearest resistance is broken through, the price can form a strong momentum.
Earlier we saw an attempt of strengthening, which smoothly changed from an ascending price channel to a bearish wedge. The latter figure is quite capable of breaking the trend and changing it, for this in our case, the price needs to pass through the resistance of 0.7440.
Recently cryptocurrencies, both bitcoins and altcoins, start to recover, and there are even some fundamental reasons for that.
The moving averages act as resistance, but at the moment the MA-50 is being tested and in case of a breakout the 31% range will open, which is quite an interesting prospect for us.
Support levels: 0.6500
Resistance levels: MA-50, 0.7440
I expect consolidation near resistance, followed by a breakout and bullish momentum. The medium-term target is 0.9700.
Regards, R. Linda!
Ascending Channel
💱EURCAD - Waiting for a false breakthrough EURCAD is breaking the channel resistance, but there is no the reaction that everyone is waiting for.
A bottom has formed on d1 and a counter-trend movement is starting to form.
TA on the high timeframe:
1) Price breaks the resistance at 1.45120, but there is no impulse, which should happen when breaking the resistance
2) The same flat is formed. The price may return to it when falling below 1.45120.
TA on the low timeframe:
1) Price breaks the resistance of the local bullish channel, there is no impulse and a strong consolidation is formed above the resistance. If price goes down and passes 1.45430, forms consolidation below the level, correction to 1.44250 will begin
2) Actual resistance retest may end up as a false breakdown. A change of trend is out of the question, a downward correction may be formed.
3) BUT! If 1.45630 is broken through and consolidation is formed above the level, the price will be able to continue rising to 1.46300.
Key resistance📈: 1.45630
Key support📉: 1.45430
Get Ready for a Golden Ride! Buy Signal on Gold Daily Chart 📈The bullish setup on Gold is sparking excitement as price follows a clear Elliott Wave pattern. With the fourth point of the wave in place, it's time to buckle up for the next wave, which could potentially take us to around the 2200 mark.
Adding to the bullish sentiment, Gold has been oscillating within an ascending channel in recent weeks, providing further confirmation for this setup. Notably, the RSI indicator is signaling an oversold condition while maintaining an overall uptrend, suggesting an impending bullish impulse.
Let's ride the wave and make the most of this glittering market trend!
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GOLD → The price is standing still. What's going on? OANDA:XAUUSD continues to stand still and form a consolidation within the 1938 - 1912 sideways range. The rebound to resistance is likely to continue in the format of a bounce to support.
On the daily and weekly chart there is a consolidation in the red zone, after the breakdown of the key support levels. Most likely an energy buildup is forming before the rally in one direction or the other.
In order for the counter-trend correction to be recognized as a trend change, the price has to break the resistance 1935-1939. In this case the market will start to form a strengthening of the price and a bullish trend will start to form.
At the moment within the counter-trend correction you should wait for the decline from the resistance 1933, or the retest to 1920 (1912) with further breakout and decline to the global minimum.
Support levels: 1920, 1212
Resistance levels: 1933, 1935, 1939
I expect a local rise followed by a fall - since that is how the price behaves inside the range. The Fed is still aggressive policy and most likely, the market has decided to rest a bit before the further movement.
Regards R.Linda!
GBPUSD → What kind of reaction could there be to resistance? FX:GBPUSD continues to form an uptrend, but at the same time the price is hitting a strong resistance area. We are waiting for the price to react to the area, which will determine the further direction.
A retest of the level 1.28484 will tell us that the market will prepare to strengthen after breaking through resistance, but a consolation below the level will signal further decline to 1.26900.
In an uptrend, the price could test the resistance again in the near future. The dollar is in a range and a decline towards support will give the currency pair a jump to break through resistance.
The pound might continue to strengthen in the mid-term based on a more positive fundamental background than the dollar.
Support levels: 1.27267, 1.26800
Resistance levels: 1.28484
I expect an attempted retest to the resistance, which may give a further signal. It is necessary to monitor the price reaction to the upper limit of the range. It may be followed by a pullback before further growth.
Regards R.Linda!
BTCUSD → FB before the breakout, waiting for the retest BITSTAMP:BTCUSD is testing strong resistance at 30575, but a false-break of the level tells us that the price is not ready to grow (at the moment). It might form a pullback or flat pattern below the level before rebounding further
Globally, we have a bullish trend, the price is getting stronger. The rally is followed by a consolidation and a pullback, after which the cycle repeats again. The price is gradually renewing its highs. Fundamentals are getting stronger amid a surge of activity and some positive investor interest news.
The moving averages on the D1 show us a bullish trend, the same is true for the weekly chart. The price forms a range after breaking through 25000. The range boundary is 30285 - 25000. I would not expect in the medium term a decline to 25000, most likely the price may form a consolidation between 30000-28500, after which the price will continue to form resistance retests for a breakout.
Support levels: 29800, 28500
Resistance levels: 30575
I expect a consolidation or a technical pullback after a rally. Bitcoin is not highly susceptible to technical analysis, but it is excellent on fundamentals. Fundamental background is more inclined to a positive trend. In the medium term, I expect growth after the breakout of 30575.
Sincerely R. Linda!
In Downtrend Channel | Short BiasWeekly Chart
Chiliz ( BINANCE:CHZUSDT ) has broken down the support level ($0.0811) and closed below that level. That red candle shows strong selling pressure with RSI Oversold.
I expect CHZ will down more leg to around $0.04
Chart 4H TF
Chiliz's in triangle pattern. If price can breakout, CHZ can retest Previous Ascending Trend Line.
Wait and see
EURUSD → Fundamental and TA diverge. What's next? FX:EURUSD has been declining all week. The correction continues to the lower boundary of the uptrend, and after a false breakdown of support the market responds with a bullish reaction.
The daily timeframe is turning a triple top, but everything is ambiguous. Price is in a global fleet.
Within a local uptrend, a false break of channel support increases liquidity and the market builds bullish volumes, against the news this reaction may be temporary.
If the wedge resistance is broken, a consolidation above the line can be formed, followed by an impulse towards the key resistance.
The Fed is not going to give up and is increasingly saying that rates will either be kept or increased in the medium term, in which case the currency pair may show us a bearish mood.
Support levels: 1.08485
Resistance levels: the upper boundary of the wedge, 1.0945, 1.1000
I expect an attempt to break through the resistance of the wedge. If it succeeds, the price may head towards 1.0945 within the channel. But if the consolidation in the wedge continues, there will be a chance to break through the trend support.
Regards R. Linda!
AGLDUSDTAGLDUSDT is moving in bullish parallel channel and respecting well the HH and HL in the channel. Currently it seems like the instrument is getting out of fuel as it is already facing the resistance from daily TF.
🥇GOLD - Inside the range price breaks support Gold is testing the resistance area of the global trend and breaking the local support. A rebound from 0.382 could reach the retest area and then the downside phase could activate.
TA on high timeframe:
1) Price is testing the liquidity area of the global downtrend channel
2) The liquidity zone 1939-1935 is not reached, most likely a market maker trap may follow
TA on the low timeframe:
1) A breakout of uptrend channel support forms
2) The price tests 0.382 Fibo and starts to form a pullback. There is a chance of the retest of the channel support or the level of 1932.
3) The price may also strengthen to 0.618 Fibo before declining further
4) The global TA says about the priority of further falling.
5) I think the local correction will end soon
6) The price may stay in the 1932-1910 range all week
Key resistance📈: 1932, 1939.
Key support📉: 1921, 1910
NZDJPYNZDJPY is moving in an ascending channel. The market has reached the major resistance level. The market created a divergence at a major resistance zone. The price is near the 89.000 psychological level, and if it rejects the level, then we might see a massive drop from it
Bitcoin - Huge crash soon! Retest is required (wedge)
The price of Bitcoin recently pumped from the falling wedge pattern with a very strong impulse wave. But the problem is that because of that, we have an unfilled FV GAP on a previous breakout point, and the price tends to go back and retest it. Usually, when patterns break, the price tends to go back and retest them!
In this case, we can completely retest the wedge at the trendline (which will be a deep retracement) or retest the breakout point of the wedge and fill the FB GAP. In the confluence, we have the 0.618 Fibonacci retracement of the impulse wave, giving us a pretty good long trade with a solid risk-to-reward ratio.
We are going to go down sooner or later; the probability of it is actually very high. But there is also a chance of going higher to 32399 first to take the liquidity above the previous swing high from 2022 before retesting the wedge!
It was a huge pump, and buying or speculating on price increases is very risky. I would not do that at all, so rather prepare your shorts at higher prices or at confirmation of the downtrend!
From the Elliott Wave perspective, I can already see a completed impulse wave that screams for a retracement. The trendline of the impulse wave is broken, and we could definitely go down next week!
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Thank you, and for more ideas, hit "Like" and "Follow"!
BTCUSD → 4 setups that will make the buyer happy BITSTAMP:BTCUSD is showing confidence and chic dynamics in the market. On the global chart, the flagship is forming 4 key set-ups that say it is highly likely that the price will continue to strengthen. Let's break it down!
The cup & handle, the bearish wedge, the head and shoulders, as well as the breakout of the strong resistance level 30261 after another retest. This set-up colaboration makes bitcoin fans happy enough :)
On the daily chart, the price makes a retest of resistance 30575. After the false breakout on June 21, we did not see a decline. A pre-breakdown consolidation was formed, after which the flagship broke the level and at the moment the price consolidation is formed above this level, which may give us a good bullish signal.
In the mid-term, there is a chance that the price will test the channel resistance quite quickly.
It is also worth paying attention to the moving averages, which play the role of support, but at the same time the curves show the key boundaries that the price has previously overcome.
Support levels: 30575, 30261, 30000
Resistance levels: 32196. 34000, upper limit of the channel
I expect from the bulls a strong position above the level of 30000-30575. In the medium term bitcoin gives good signals, which can realize the idea of 34000-38000
Regards to R. Linda!
Bitcoin - Parabolic phases (1 million USD in 2044)
As per my calculations, the price of Bitcoin will be 1 million USD in 2044, which is 21 years ahead. And it's still a pretty optimistic price target, in my opinion.
Please do not expect some big parabolic phase to reach 500,000 USD in the next few months or years. This is not going to happen because you are too late for the party.
In 2017, the crypto bubble popped, and phase 2 of the parabolic phase ended. 2017 was historically the biggest year for altcoins and bitcoin. Everything went up, including scam coins, and it will never be like this again. Now Bitcoin is in phase 3 / phase 4. Phase 3 is not sustainable because otherwise Bitcoin could hit 100 million USD in 10 years. Just calculate the market cap; it doesn't make any sense. That's why I am sober all the time and focus on realistic price targets.
Bitcoin is still a good investment, and you can trade the major cycles. Buy low, sell high. It's easy to say, but it's not that easy for the majority of market participants.
If phase 4 of the parabolic cycle breaks, then it's likely for Bitcoin to go sideways for 5–10 years, but in my opinion, it's not going to happen because the trendline of the parallel channel is pretty low, and with the current date, Bitcoin has to drop below 4700 dollars, which is not going to happen.
This is a very realistic technical analysis. 1 million USD in 2044 is not impossible, but the majority of retail trade thinks that 1 million should be hit in a few years.
In approx. 2140, all Bitcoins should be mined, and there will be no new BTC mined at all. Miners will receive rewards from the transactions of chain users.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Thank you, and for more ideas, hit "Like" and "Follow"!
EURGBP → Formation of a pre-breakout consolidationFX:EURGBP a week earlier forms a break of the resistance of the descending price channel. A consolidation of 0.86000-0.85400 is forming. We see consolidation at the resistance. What to expect from the price?
Most likely, the price will continue to test resistance 0.86067. Pre-break consolidation is forming, which can be interpreted as another attempt of price exit from the range, followed by the strengthening of the currency pair.
Moving averages are beginning to narrow and if the conditions are favorable, they may soon form a signal that confirms the intention of the market to change the trend.
A breakout at 0.8606767 will send the price to 0.86722, but if the breakout does not happen, correction to the trend support will be formed.
Resistance levels: 0.86067, 0.86345, 0.86722
Support levels: 0.85725, trend support
The market is showing good dynamics and consolidation confirms the intention of the buyers. I am waiting for breakthrough of resistance with the subsequent growth.
Regards R. Linda!
ETHUSD → implementation of distribution. Target 2300BITSTAMP:ETHUSD has been showing a swell in the last few days. The price is out of the key range. The bullish set-up is working 100% and price is breaking resistance. What to expect from ethereum next?
For a long time, the coin formed a wedge pattern, which ended with the price forming a rally after a false break of global trend support and the SMA-200 and breaking not only the wedge resistance, but the trend line and the 1846.5 level.
A consolidation above this support area will consolidate the bulls' position and continue to shape the move.
Within the price channel, we have an implied target - the resistance area of 2300. Most likely, in the medium term, we should expect growth towards this mark.
Support levels: rising support line, previously broken wedge boundary, 1846.5 level
Resistance levels: 1920, 2021
Consolidation lasted about 45 days, the distributive phase after consolidation may last for 15 days. I expect that in the mid-term we might see a breakthrough of the local resistances and strengthening of the price to 2300
Regards to R. Linda!
Bitcoin - Profit target for the next bull run + 32% crash soon!
Of course, I am still bearish on Bitcoin, and we are going to hit 20,500 or 17,000 this year. But before it happens, we can go as high as 33,000 because there is a lot of liquidity to be taken.
I started to be bearish around 30k a few months ago, and nothing changed in my outlook. But I think 6k and 10k are not possible anymore because Bitcoin proved its strength and the uptrend transformed from a corrective wave into an impulse wave, which is definitely something we cannot ignore in our next trades.
A 32% or 40% crash later this year, most likely in September or October, is very possible, and I am expecting this scenario to happen. I prefer a bearish scenario over a bullish one this year, and I do not see any crazy pumps to 35k, 40k, or even higher.
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Now the question is, How far can Bitcoin go in the next bullish cycle? My technical analysis shows around 100,000 USD. We have a huge ascending parallel channel on the LOG weekly scale that you can see on this chart. It has already had five touches, and it started in 2017. What's more, if we take the Fibonacci extension from the start of the previous bull market to the end of the previous bull market and to the end of the previous bear market, the 0.618 FIB extension is right at 104,000 USD.
Seriously, please do not expect Bitcoin to hit 300k or 1 million in the next few years; the market cap would be insane if this happened.
In the short term, I am pretty neutral because Bitcoin could reach 33K or also start a big crash. At this point, we need more confirmation, so I prefer to trade altcoins at this moment and wait for BTC. I trade over 200 futures pairs, and I have a lot of opportunities everywhere.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Thank you, and for more ideas, hit "Like" and "Follow"!
💱EURUSD - Range Formation. Heading for support EURUSD is entering a new range of 1.0912 - 1.1067. The price makes a shakeout against the support and seems to form a growth, but on the H1 we see a breakdown of the uptrend.
TA on the high timeframe:
1) Range is forming on the background of a bullish trend
2) On the lower chart we see the correction from the liquidity area 1.09700.
TA on the low timeframe:
1) Earlier we saw a breakout of the uptrend, after which the price forms a retest of 1.09700 resistance
2) The retest forms range resistance. The price starts to form it and heads towards the range support
3) Most likely, in case of breakout of the local support 1.09430, we will see a fall to 1.08900.
Key support📉: 1.09430, 1.08900
Key resistance📈: 1.09700
CADCHF → Formation of a pre-breakout consolidationFX:CADCHF is preparing for the continuation of the uptrend. The price within the ascending price channel is forming a consolidation against the resistance 0.68220. What to expect from the price?
The chart clearly shows a bullish trend. The market is interested in the resistance at 0.68220, which the sellers are defending so strongly. If the price breaks through that area, it might continue rising, and the CHF-CAD will continue going down.
The moving averages show that the market is ready to exit the consolidation. At the same time, the indicator acts as support. The nearest target, which the price can strive for, is the resistance at 0.69312 level.
Support levels: SMA-50, trend support, 0.67194
Resistance levels: 0.68030, 0.68220
I expect the consolidation aimed at breaking the resistance will break the level in the nearest future. After the breakdown of the level I will be waiting for the strengthening of the currency pair to the upper boundary of the trend.
Regards, R.Linda!
GOLD → Breakthrough of the global trend support. 1800? OANDA:XAUUSD last week motivated us to keep a close eye on the trend support and the Triangle Beak pattern. A break of the support breaks the base of the trend, but there is still no confirmation, we only see the primary phase. What to expect from the price?
A breakout of the trend base forms quite a strong bearish momentum. Earlier, the broken level was also tested, but the false-break format did not give any result, Price is closing in the red zone on the daily and weekly timeframe.
If the bears can hold below 1939, 1925 or even below 1907, they have an excellent corridor to move down towards the 1800 area.
Pay attention to the 1907 - 1808 range. We have a void on volume and with the support levels, price could "fly" down.
There is a lot of important news coming out this coming week, it is worth keeping an eye on the press releases and considering the news in your trading:
I expect bearish scenarios to develop in the coming week. Preliminarily, the Fed is not going to cut rates, they will either hold or increase. There is a crisis in the countries against the background of geopolitical reasons; there are quite a lot of disputable nuances related to inflation in the West. In general, we have a rather complicated situation. Analysts shout about the U.S. recession, it is possible that the price of gold will go down deliberately, but again, everything is just a rumor.
Regards R. Linda!
Bitcoin - Plan for the next 6 months! (strategy)
Bitcoin is pumping, but buying at the current price is not worth it at all. I have been talking about the 10k, 15k, or 20k (unfilled CME gap) for a long time. Usually, summer is choppy, followed by September and October, which are generally very bearish months for Bitcoin.
Of course, I am not here to immediately FOMO into Bitcoin, and I do not recommend anyone do it. You can take a look at altcoins; they are extremely bearish, and since I have been bearish for 3 months, they have crashed by 50% or 70%. Just take a look, for example, at MATIC or Cardano.
I do not have any Bitcoin because timing is important when it comes to investments. The most efficient way is to buy Bitcoin around 20k later this year and ride the third impulse wave to the upside. I expect a huge ABC correction to be triggered soon, and as we know, the usual retracement for the 1st impulse wave is most likely 0.618 or even deeper.
Bitcoin is one of the most bearish assets in the world. Gold almost hit an all-time high, as did Nasdaq. Bitcoin is supposed to be the most bullish asset, right? It already should be above the previous all-time high somewhere around 100k, but it's struggling below 30k.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
I am expecting a big crash on Bitcoin, no matter this recent pump. The market moves in waves, and corrections do make sense to me. I think 10k is no longer possible for Bitcoin due to the recent pump because the current uptrend from 15k is now transforming from a corrective wave into an impulse wave, which is a sign of the start of the bull market.
On the chart, you can see a projection for a Diamond or Head and Shoulders pattern that can be formed in the next few months prior to the final dump to 21k.
My strategy and game plan for Bitcoin is that first we are going to go higher, to around 33000, to take the liquidity above the previous swing high from 2022. After that, I am expecting a huge crash back to 25k, and then some consolidation pattern should occur as wave (B). In September, we can expect a final huge crash to 20K, followed by an extremely strong buy-back from whales.
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EURCHFEURCHF is in new uptrend, as previously it was in down trend now the trend has shifted. Currently the pair is retracing at fib golden ratio which is also the previous support. Will the pair continue its upward trajectory ?
AUDCAD - BROKEN CHANNEL📉Hey Traders👋🏻
The AUDCAD Price Reached a Major Resistance Level (0.91064 - 0.90637) and Formed an Ascending Channel✔
Currently, The Price Reject To Create New Higher High, The Last Higher Low is Broken (Break of Structure)
Moreover, The Support Line of The Channel is Broken!
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 0.88315🎯
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