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Bearishretest

BTC - Bearish retest of the neckline!It is apparent that the price has breached below the neckline and subsequently undergone a bearish retest. However, the price has failed to regain the neckline, indicating a potential shift in momentum toward the downside. Should the price further break below the support zone, there is a strong possibility of moving toward the 24k mark. Furthermore, it should be mentioned that the volume is currently very low! This indicates a more significant move is coming! Last time the volume was this low, the price went from 40k to 27k in only two days! When meme coins start pumping, you know the overall rally is coming to an end. We are precisely in that phase, in my opinion. Memecoins have recently been pumping while the overall market has shown significant weakness. I suggest everyone avoid Altcoins as the BTC dominance is expected to climb higher! Moreover, the price of Bitcoin was recently rejected from the bear market downtrend resistance, indicating a potential move to the previous bottom of $15.5k, which is consistent with the concept of the price following a pattern reminiscent of the 2021 summer period. It's also worth mentioning that the S&P 500 has been showing some weakness, and since BTC typically moves in lockstep with the S&P 500, it can be prudent to monitor its movement. The bear market probability index is currently at an all-time high, which suggests that the ongoing rally could be considered the biggest bull trap ever witnessed in the history of Bitcoin. While relying on a solitary model is insufficient for drawing definitive conclusions, numerous indicators suggest a downward price trend in this case. Lastly, the market is experiencing a notable increase in fear, likely due to multiple factors simultaneously impacting the market. Based on historical precedent, it is reasonable to anticipate significant downward market movements should prior trends repeat themselves.
Short
by MBM_Crypto
14
BTC: WEEKEND PUMP? NEXT POSSIBLE SCENARIO!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to this quick BTC update. In my previous BTC update i clearly told you that BTC is not break above $18.2k level and we might see a rejection from there and exactly the same happened. So what's next? As of now, BTC holding the green support area ($16.5k-$16.8k) and we might see a bearish retest from here. According to the chart, BTC should bounce from here up to $17.2k-$17.3k level and after that again starts dumping. So as of now I'm expecting a relief bounce in shorter time frame. In HTF, BTC still looks bad. Until and unless we did not get a weekly close above $18.5k thing not going good for us. Let's see how things goes in the next few hours. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Long
by CoreCrypto1
9
GBPJPY Local S/R|.50 Fibonacci|Swing High|Daily S/R|Price ActionEvening Traders, Today’s analysis – GBPJPY- trading below Local S/R that has confluence, further downside probable, Points to consider, - Price Action Impulsive - Local S/R Resistance ( .50 Fibonacci Confluence) - Long Liquidity Target ( Dynamic 200 MA Confluence) - RSI Bullish Control Zone - Increasing Volume GBPJPY’s immediate price action is impulsive under Local S/R where a bearish retest is probable; this allows us to have a bearish bias. Long Liquidity being in confluence with the 200 MA, is likely to be tested with a wick. Exceeding this level will make the extended target, Daily S/R. The current RSI is in its bullish control zone, breaking below will be indicative of weakness in the market. Current Volume Profile is increasing, this signifies a true break of Local S/R where follow through is probable. Overall, in my opinion, GBPJPY is a valid short with defined risk; price action is to be used upon discretion/ management. Thank you for following my work And remember, It does not matter how slowly you go as long as you do not stop.”Confucius
Short
by AzizKhanZamani
2
USDJPY Local S/R| .382 Fibonacci| Untapped Liquidity| 200 MA Evening Traders, Today’s analysis – USDJPY- trading below Local S/R where a bearish retest is probable, Points to consider, - Price Action Impulsive - Local S/R Resistance (.382 Fibonacci Confluence) - Untapped Liquidity Target - Valid Volume Climax USDJPY’s immediate price action is impulsive under Local S/R, this allows us to have a bearish bias on the market. The Local S/R is in confluence with the .382 Fibonacci, a back test here is probable allowing for a short entry. Untapped liquidity being the target, respecting this area is critical, failure will increase further bearish targets. There is a valid volume climax at play, price action follow through is needed with sustained volume from the bull side. Overall, in my opinion, USDJPY is a valid short with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps! Thank you for following my work! And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Short
by AzizKhanZamani
THETAUSDT Local S/R| 200 MA| Bearish Retest| Price ActionEvening Traders, Today’s second analysis – TEHTAUSDT price action breaking trend therefore any rallies are now considered bearish retests. Points to consider, - Price Action Lower Low - Local S/R Resistance (Bearish Retest) - 200 MA Resistance - Oscillators Extended - Declining Volume THETAUSDT’s immediate price action is bearish under Local S/R; this allows us to have a bearish bias on the market. The Local S/R has been flipped resistance; any back tests will confirm an S/R Flip Retest. 200 MA has also been flipped bearish, further adding to the probability of market resistance. Current oscillators are at oversold conditions, price action is likely to have an oversold bounce into Local S/R before trend continuation. The volume is also below average, an influx s highly probable when testing key trade locations such as the Local S/R. Overall, in my opinion, THETAUSDT is a valid short with defined risk; price action is to be used upon discretion/ management of trade. Hope this analysis helps Thank you for following my work! And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
Short
by AzizKhanZamani
2
NDX | Trend Analysis | S/R Flip | Bearish Retest Todays analysis – NDX – Consolidating at a key below the multi-month trend line Points to consider: - S/R flip of dynamic support - Overextended trend - Fibonacci retracement targets - 200 EMA mean reversion NDX finally breaking below its strong multi-month trend, failing to break above the dynamic resistance, price is likely to have a steeper correction. Downside targets derived from Fibonacci retracement are the .382 and .5 levels, also coinciding with market structure support. As we get confirmation of further downside in the coming few days, price is likely to find support at the 200 EMA before further bullish continuation. Overall, in my opinion, price action in the coming few days will indicate the direction of the next impulse and allow us to establish a bearish or bullish bias.
TVC:NDQ
by Kudiiee
2
BTC USDT | Trade Setup | Bearish Retest | .618 Fib Todays Analysis – BTC/USDT – low time frame analysis - establishing a bearish retest of local swing high. Points to consider: - Bullish Trend - Dynamic trend support + 200 EMA support - Bearish local swing high retest + .618 confluence BTC/USDT trading in an uptrend with trend support and 200 EMA acting as support. Price failing to establish an immediate higher high, rejected at the .618 Fibonacci retracement is indicative of a bearish retest of local swing high. A break and close below ‘no mans land’ validates a short trade with a technical target of daily support or consolidation above the zone validates a long trade into structural resistance. Overall, in my opinion, further price development will indicate the direction of the next impulse and validation of a long or short trade. Thank you for following my work! And as always, Focus on you, and the money will too!
BYBIT:BTCUSD.P
by Kudiiee
2
ONTUSDT Local Double Top| 200 MA| Bearish Retest| Daily S/R Evening traders, Second analysis – ONTUSDT- a bearish retest likely to form with the immediate target Daily S/R, Points to consider, - Trend ranging - Daily S/R (support) - 200 MA Resistance (bearish retest) - Resistance confluence - Oscillators divergence - Low volume ONTUSDT’s intimidate trend is ranging between two key levels. Breaking either will be indicative of the trend direction. The Daily S/R is the immediate support (bottom of the range), price is likely to respect this area as it is the base of the bullish engulfing. Dynamic support has been breached, now acting as resistance with the 200 MA and bearish price action being in confluence, price is likely to establish a bearish retest here. Both oscillators are below 50, this indicates weakness thus further downside probable before oversold conditions. The current volume is below average, an influx is likely when key trade locations are tested. Overall, in my opinion, ONTUSDT is a valid short targeting Daily S/R. Price action is to be used upon discretion/ management of trade. Hope this analysis helps! Thank you for following my work! And remember, “Environmental distractions and boredom cause a lack of focus – All of us have limits to our attention span and these are easily taxed during quiet times in the market.” Brett Steenbarger
Short
by AzizKhanZamani
4
EURGBP Bearish Retest|Weekly S/R|Low Volume|Oscillators ExtendedEvening Traders, Today’s analysis – EURGBP respecting its .618 Fibonacci leading into an impulse move, price action is currently testing weekly S/R where a rejection is probable. Points to consider, - Macro trend range deviation - Bearish Retest (Weekly S/R) - Local S/R (immediate support) - Oscillators extended - Volume below average EURGBP has had a previous impulse that leads to a range deviation thus any back tests are considered a bearish retest. This allows us to have a bearish bias on the market. The Local S/R is the immediate support, holding this level will confirm an S/R Flip retest. Both oscillators are trading in overextended regions, this is indicative of the market getting overbought and that a reversion to the mean is probable. The volume profile is currently below average, it’s important to note that price rising on declining volume in usually bearish. Overall, in my opinion, EURGBP is a valid short with risk defined below weekly S/R. Price action is to be used upon management/ discretion of trade. Thank you for following my work! And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
Short
by AzizKhanZamani
USDJPY Short|Bearish Retest|Resistance Confluence|Local SupportEvening Traders, Today’s analysis – USDJPY- breaking down from structural resistance with bearish price action, further downside is likely. Points to consider, - Macro trend bearish - Impulse sell through level - S/R flip (bearish retest) - Bearish price action - Local support target USDJPY’s trend has put in consecutive lower highs giving the market a bearish bias. Price has an impulse sell through structural resistance; this shows a lot of weakness as price failed with bullish follow through. A bearish retest is likely to be confirmed as price respects the .618 Fibonacci. The 200 MA is also in confluence which further solidifies the resistance. The immediate price action looks weak; breaking dynamic support line will make the immediate target local support. Overall, in my opinion, bearish price action under structural resistance increases the probability of further downside. A short is valid with any rallies into structural resistance, this will allow for defined risk. What are your thoughts? Thank you for following my work! And remember, “Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
Short
by AzizKhanZamani
GBPUSD Short|Range Resistance| Overthrow| Bearish Retest| 200MA Evening Traders, Today’s Analysis – GBPUSD – range trading putting in a bearish retest with the immediate target range midpoint. Points to consider, - Overthrow (no follow through) - Range resistance confluence (200MA) - Range midpoint (Local support) - Oscillators neutral - Volume below average - GBPUSD’s immediate trend is bearish with consecutive lower highs. Price broke range resistance with no follow through (over throw), further solidifying the bearish bias Range resistance is in confluence with the 200 MA, price is putting a probable bearish retest here. The range mid-point will be the immediate target – local support. The RSI is neutral whilst the stochastics is in the upper regions, indication that momentum is stored to the downside in the market. Volume is trading below average, an influx is likely as price trades to the downside. Overall, in my opinion, GBPUSD is likely to test range midpoint as price action looks weak. A bearish retest is likely forming where a short can be placed with defined risk. What are your thoughts? Please leave a like and comment, And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
Short
by AzizKhanZamani
2
NZDCHF Oversold Bounce| Structural Resistance| Bearish Retest Evening, Today’s analysis, NZDCHF respecting the 2.618 Fibonacci Extension with the next projected trade location at structural resistance Points to consider, - Oversold bounce recovery - Structural resistance retest - 21 MA breached - RSI swing low failure NZDCHF’s oversold bounce recovery is projecting structural resistance to be tested. A bearish retest is likely at this level where a short trade is plausible. The 21 MA has been breached; a back test is probable if price is rejected from structural resistance. The RSI has a valid swing low failure; this solidifies the strength of the bounce back into structural resistance. Overall, in my opinion, NZDCHF is on track for a bearish retest. A short trade at this level is valid with defined risk above recent swing high. What are your thoughts? Please leave a like and comment, And remember, “Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Short
by AzizKhanZamani
2
EURUSD Double Top Resistance|Local Support|Bearish Retest(Short)Today’s Technical Analysis – EURUSD – testing local support, a bearish retest will allow of a short entry. Points to consider, - Double top resistance (bearish formation) - Local support confluence - RSI below 50 - Stochastics buy cross - Volume below average The double top resistance was established with an impulse sell off into local support, which is the current trade location. The local support has multiple confluences; a bounce into the range median is probable for a bearish retest. A confirmed bearish retest will allow for a short entry with defined risk The RSI is below 50, showing weakness in the market as momentum shifts to the downside. Stochastics on the other hand is signalling a buy cross; an immediate bounce from local support is probable. Volume is currently below average where an initial influx is likely as this is a key trade location. Overall, in my opinion, if EURUSD establishes a bearish retest with declining volume, the probability of an impulse down is likely. Price action will be important to monitor for a directional bias What are your thoughts? Please leave a like and comment, And remember, “It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd
Short
by AzizKhanZamani
XRPUSDT Bearish Retest|Resistance Confluence|Watch Price Action Evening Traders, Today’s Technical Analysis – XRPUSDT- respecting its range median, a bearish retest will allow for a short entry. Points to consider, - Trend bearish (consecutive lower highs) - Bearish retest (trade entry) - Range median (local support) - RSI and stochastics below 50 - Volume below average XRPUSDT is in a defined lower high projection, currently trading in a range with strong resistance from multiple moving averages. A valid bearish retest at structural resistance will allow for a short entry with defined risk. The range median is local support (immediate target), watching how price action forms at this level will help with the directional bias. The RSI and stochastics are below 50, momentum is shifted down as oscillators show weakness, however breaking structural resistance will negate this. Volume is below average, influx likely at structural levels. For a bullish bias, XRPUSDT needs to breach structural resistance with increasing volume. Overall, in my opinion, a short trade will be valid upon another bearish retest, this allows for defined risk. The trade will be invalidated with candle closes above structural resistance. Price action will be key as any weakness is to be sold into. What are your thoughts? Please follow me on twitter for live market updates!, link in bio :) And remember, “You’re going to learn a million things, then you need to forget them all and focus on one.” -SunriseTrader
Short
by AzizKhanZamani
3
BNBUSDT Resistance Confluence| Demand Zone| Bearish Retest Evening Traders, Today’s Technical Analysis – BNBUSDT – wedge formation has broken bearish, testing local support (demand zone), which has led to buy backs. Points to consider, - Resistance Confluence - Bearish retest - Local Support (Demand Zone) - Stochastic lower highs - RSI below 50 Long candle wicks confirm buy pressure coming in at local support, BNB is currently putting in a bearish retest at structural resistance, confirmation will likely revisit local support, this will then further solidify a macro lower high. A break of structural resistance on the other hand will increase the probability of taking out the current high, continuing the trend. The RSI is currently neutral, not officially oversold whilst the stochastics is projecting lower highs, indicating potential further downside. Overall, in my opinion, BNBUSDT has two clear levels to breach, structural resistance and or local support. These are key levels to pay attention to when developing a directional bias. What are your thoughts? Please leave a like and comment, And remember, “There is only one side of the market and it is not the bull side or the bear side, but the right side.” –Jesse Livermore
by AzizKhanZamani