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Bitcoin forms bullish pattern. Currently, BTC/USDT is forming an ascending triangle pattern on the daily chart, with key resistance around the $67,000 level and rising support near $63,000. This structure often signals a potential bullish breakout. Trading Strategy: Upside Potential: If BTC breaks above the $67,000 resistance level with strong volume, it could signal the start of a new upward trend. Traders may consider entering a long position once the price surpasses $67,000, with a target of $72,000 and potentially $75,000. Stop-Loss: Set a stop-loss just below $65,000 to manage downside risk in case of a false breakout. The ascending triangle pattern suggests that bullish momentum is building, and the market may soon witness a breakout in the coming days.
by Suyouu
SOLUSDT : How to trade ?The chart for SOL/USDT presents a bullish harmonic pattern (likely a Gartley or Butterfly), with the price currently sitting around $152.22 after a recent upward move. The "D" point, which forms the completion of the harmonic pattern, suggests that the price could be setting up for a potential reversal or continuation to the upside, targeting the key resistance level at $159.46. The green zone around $145.00 serves as a critical support level where buyers have previously stepped in. A breakout above the $159.46 resistance could signal a strong bullish continuation. However, if the price fails to break this level and reverses, it could retest the support zone. Traders should monitor this zone closely for any breakouts or reversals in the short term.
by Suyouu
Update the latest ETHSDT today. The Ethereum (ETH/USDT) chart presented shows a descending channel pattern with clear lower highs and lower lows. The price is currently sitting around $2,544, but it recently tested the upper boundary of the channel near $2,660. The rejection at this level, coupled with the downward trajectory, suggests potential bearish momentum. The chart indicates that if Ethereum fails to break above this resistance, it could move lower toward the lower boundary of the channel, targeting a level near $2,200. The moving averages (likely EMA) further support the downward trend as they are sloping downward, suggesting that selling pressure may continue in the short term. Key levels to watch are the resistance at $2,660 and potential support near $2,270. A break below the current support could push Ethereum toward the lower end of the trend channel.
by Suyouu
Gold price today.Gold extended its rally on Friday as U.S. inflation data further strengthened expectations for an interest rate cut later this year. At the same time, safe-haven demand surged amid growing concerns over geopolitical tensions in the Middle East, providing an additional boost to bullion prices. A report released during the day showed U.S. producer prices remained unchanged in September, signaling a favorable inflation outlook and reinforcing hopes that the Federal Reserve will lower rates next month. In this context, the PPI figures appear to favor the bulls in the precious metals market, suggesting that the Fed is still on track to proceed with its anticipated rate cut.
OANDA:XAUUSD
by Pierce_Bowers
Bitcoin Consolidates in Sideways Range. The chart illustrates a sideways movement, with Bitcoin’s price fluctuating within a range defined by the upper and lower bands of the Bollinger Bands. The support and resistance levels are clearly marked around $58,933.82 and $66,186.62, respectively. The price action is constrained between these limits, indicating a lack of momentum and a consolidation phase. The EMA 34 and 89 are showing weak activity, reflecting the indecisiveness in the market, with no clear signs of a breakout either upwards or downwards. Until the EMAs show a stronger trend signal, the market is likely to remain in this sideways range. In conclusion, the market is in a consolidation phase, and traders should wait for a breakout from the Bollinger Bands for a clearer direction.
by Suyouu
ETHUSDT : SELL or BUY ? The ETH/USDT chart reveals a clear long-term downtrend, with prices steadily moving within a descending channel. Here's a more detailed analysis and a trading strategy based on the current market setup: Analysis: Downtrend: Ethereum has been consistently forming lower highs and lower lows, indicating a strong bearish momentum. Key Resistance: The price is approaching a crucial resistance level around 2,670 USDT, marked by the upper boundary of the descending channel. This area is likely to act as a significant barrier. Projection: Given the overall bearish structure, it’s highly probable that the price will meet resistance at this level and resume its downward trajectory towards the lower boundary of the channel. Trading Strategy: Entry: Consider entering a short position as the price nears the resistance at 2,670 USDT. This area presents a strong opportunity to capitalize on the continuation of the bearish trend. Take Profit: Target profit levels around 2,300 USDT, or potentially lower, towards 2,100 USDT, where the channel's support lies. Stop Loss: A tight stop loss should be placed just above the resistance zone, around 2,700 USDT, in case the price unexpectedly breaks out to the upside. Final Thoughts: The market sentiment remains bearish for Ethereum, and this setup offers a compelling opportunity to ride the downtrend. As always, caution is key, but the technical signals here suggest that the bears are still in control, and this resistance could be a prime entry point for those looking to short ETH
by Suyouu
ETHUSDT and long term profit strategy. Technical Overview: Ascending Trendline Support: The chart shows a long-term upward trendline, suggesting a steady support level around the $2,000 - $2,200 area. This trendline has historically provided strong support for price rebounds. Symmetrical Triangle Formation: ETHUSDT is currently consolidating within a symmetrical triangle pattern (highlighted in red), indicating indecision in the market. This pattern often leads to a breakout, with a likely strong price movement in either direction. Potential Breakout: The breakout point appears to be nearing, with price action expected to either bounce from the lower trendline or break through the triangle’s upper boundary. A breakout above $2,532 could lead to a strong upward move toward the next key resistance around $2,817. Bullish Scenario: If ETH breaks out to the upside, the next major target would be the $3,000+ region, indicated by the blue upward arrow. The current consolidation may be a period of accumulation before a bullish move. Bearish Scenario: If the price breaks down from the triangle and the trendline, ETH could revisit the support around $2,000 or lower, but this scenario appears less likely based on current momentum. Conclusion: Ethereum is at a critical juncture, with the symmetrical triangle and long-term trendline suggesting a breakout is imminent. Traders should watch closely for a breakout signal, with a preference for the upside targeting the $3,000 level.
by Suyouu
Latest SOLUSDT update todayAs the SOLUSDT pair continues its movement within a well-defined descending triangle pattern, traders are closely watching the price action unfold on the 4-hour chart. This bearish continuation pattern is gaining attention as the price forms a series of lower highs, with a consistent support level provided by an ascending trendline. Key Resistance Zone Holds Firm SOL’s price is currently trading near a key resistance zone, ranging from 142.54 to 144.48 USDT, which has acted as a barrier to upward momentum on multiple occasions. Despite attempts to break through, the market appears to be respecting this zone, further increasing the likelihood of continued downside pressure. Bearish Outlook Strengthening The descending triangle pattern typically signals a potential breakdown, especially as the price continues to be compressed within the narrowing range. If the price fails to push past the upper boundary of the triangle and encounters rejection within the resistance zone, it could lead to a strong bearish move. A decisive break below the 137 USDT level, marking the lower boundary of the triangle, would confirm the breakdown. Should this occur, SOLUSDT may target the next major support level around 130 USDT, as the bearish sentiment dominates short-term market dynamics.
Short
by Suyouu
ETH Rejection at $2,461: Bearish Target $2,320?The Ethereum (ETH/USDT) chart on the 1-hour timeframe shows a significant price rejection from the $2,461 level, which is a key resistance zone. The price is currently hovering around $2,406, and the trend is favoring a bearish outlook. Here is a brief analysis and trading strategy: Key Levels: Resistance Zone: $2,461 - $2,460 (red zone) Support Levels: $2,357 (first target), $2,320 (secondary target) Analysis: The price is facing strong resistance from the $2,461 level, with multiple rejections indicating the dominance of sellers. The short-term moving averages are aligning with the bearish trend, and the price is struggling to break back into the resistance zone. The next probable move, as shown by the red arrows, is a bearish continuation towards the first support level at $2,357, with a further possible drop to $2,320 if the selling pressure continues. Trading Strategy: Short Position: Consider shorting near the $2,414 - $2,461 resistance zone if the price fails to break above it. Target $2,357 initially, and if the bearish momentum continues, aim for $2,320. Stop Loss: Place a stop just above the $2,461 level to limit risk. This setup favors bearish traders, but monitor the price action closely near the support levels for any signs of reversal.
by Suyouu
BTC at a Crossroad: Bounce or Drop to $57,885?The BTC/USD 4-hour chart shows several key technical patterns that can guide a trading strategy: Resistance and Downtrend: There is a visible resistance zone around $62,441, marked by the red area and a descending trendline. The price has previously reacted at this level and rejected it, indicating that sellers are currently in control around this region. Any attempt to break above will face resistance, and short positions can be initiated near this level. Support Zones: The $57,885 level is a crucial support area. If the price falls below the current zone (around $60,800), we can expect it to test the $57,885 support. A break below this support would open up more downside potential, possibly triggering stronger sell-offs. Potential Rebound: The blue path shows a possible bounce from the $60,800 region, leading to a brief upside before hitting resistance again. However, unless BTC can decisively break above the $62,441 level, this upside is likely to be limited. Strategy: Short Position: Enter near $62,247 - $62,441, with a target towards $60,800 or lower. Tight stop loss just above the descending trendline. Long Position: Consider entering near the $57,885 support if the price holds, targeting a potential recovery back to $60,800.
BITSTAMP:BTCUSDShort
by Suyouu
Gold Price Today: Analysis and Strategy.The trading session on October 8th, 2024, witnessed a sharp correction in gold prices. As predicted in the previous analysis, there’s a high likelihood that today's session will mark the bottom of this correction. At this point, we will wait for a good entry point to hold a long-term position. Today's Trading Outlook: Primary Trend: Focus on SELL scalp (while considering BUY for long-term holds). Key Price Levels to Watch: SELL Zones: 2630 - 2635 and 2647 - 2652. BUY Zones: 2607 - 2612, 2595 - 2600, and 2580 - 2585. Wishing everyone successful and smooth trades!
OANDA:XAUUSD
by Pierce_Bowers
EURUSD Continues to Decline Amid Stronger USDToday, EURUSD continues its downward trajectory, trading below key levels as the US Dollar strengthens. The pair has been under pressure due to positive US economic data, which has fueled expectations of prolonged higher interest rates by the Federal Reserve. Meanwhile, eurozone economic outlook remains uncertain, contributing to the weakening of the Euro. As a result, EURUSD shows no significant signs of recovery, with bearish momentum dominating the market. Traders are now eyeing key support levels to assess the next move for the pair.
by Pierce_Bowers
1
SOLUSDT todayBased on the chart for SOLUSDT, here's a short and concise analysis: Current Trend: The price has broken below a key trendline, indicating potential further downside. Resistance: The area around 145.27–145.91 USD serves as the nearest resistance zone, where price previously rejected. Support: The price is approaching the 141.07 USD level, and a deeper drop could lead to the next key support around 138.08 USD. Strategy: A bearish scenario is likely to play out, targeting the 138.08 support zone if the price continues to weaken after failing to reclaim the resistance. Watch for price action near the 141.07 level for potential short opportunities.
by Suyouu
BTCUSDT: Continue selling or should buy?Based on the chart provided, the short-term bearish strategy for BTCUSDT could be as follows: Resistance: The key resistance level is around 65,917.43 USD. Support: The immediate support zone is between 61,497 - 61,728 USD. Strategy: Wait for the price to either retest the resistance zone or form a bearish pattern at the support level. If the price breaks below this support zone, it is likely to continue declining toward the target area of 53,953 USD. It's recommended to place a stop-loss above the resistance level to minimize risk in case of a breakout to the upside.
Short
by Suyouu
GBPUSD: Is the Current Decline Setting Up for a Strong Rebound? GBPUSD is currently trading around 1.309 in the early session on Tuesday. While the pair is moving in a downward trend, a closer look at the technical chart reveals a familiar wave cycle that appears to be repeating. In this scenario, GBPUSD could potentially gain bullish momentum after testing the support zone and the 34 and 89 EMAs. The long-term outlook for a price increase remains optimistic, as market sentiment continues to anticipate a Fed rate cut in the near future. Could this pullback be setting the stage for a strong rebound? Let us know your thoughts!
Long
by Pierce_Bowers
1
ETHUSDT: Bearish Setup – Time to Sell?ETHUSDT has been drawing attention with its recent price movements. The technical chart shows a potential selling opportunity as the price approaches a key resistance zone. Key Resistance Level Currently trading around 2,437 USD, ETHUSDT is facing strong resistance at 2,691 USD. This level has repeatedly proven difficult for ETH to break above, suggesting a possible price reversal once it is retested. Trading Strategy Traders are eyeing this resistance zone for a potential short opportunity. If ETH fails to break 2,691 USD and shows signs of weakness, a sell order could be placed, targeting lower price levels. Bearish Target If the bearish scenario plays out, the first target could be around 2,300 USD, with room for further downside if selling pressure increases. It’s important to set a stop-loss just above the resistance to manage risk. What’s your take on this potential ETHUSDT move? Do you think it’s time to sell or hold? Let us know in the comments!
by Suyouu
GBPUSD : Trading with the head and shoulders patternThe Head and Shoulders pattern in this chart is signaling a potential bearish reversal. Key area: If the price breaks below the neckline around 1.3040, we might see a continued downward movement. Target price: If the breakout is successful, the price could drop towards the 1.2815 zone. Strategy: You can consider entering a sell position if the price falls below 1.3040, aiming for 1.2815, with a stop loss placed safely above 1.3170 (right shoulder area). Wishing you all successful trades and good luck!
by Pierce_Bowers
Dual Strategy for BNB/USDT: Buy or Sell OpportunitiesBuy Strategy: Entry: Look to enter a long position if the price holds above the 563 - 567 support zone, showing signs of a reversal. Target: Aim for the 581 resistance level as your first profit target. Stop Loss: Place a stop loss below the 563 level to protect against further downside. Sell Strategy: Entry: If the price fails to break above 581 and shows signs of weakness, consider entering a short position from this resistance level. Target: The first target could be the 563 - 567 zone. If price breaks below this, the next target is around the stronger support zone between 540 - 550. Stop Loss: Place a stop loss above 581 to minimize potential losses in case of a breakout. By balancing these two approaches, you can capitalize on price movement whether it goes up or down. Good luck with your trades!
by Suyouu
BTCUSDT Trading Strategy. Based on the provided chart and the market context, here is a concise analysis and strategy for trading BTCUSDT: Strategy: Focus on a bullish trend with potential pullbacks. Current Price Zone: BTCUSDT is trading around 63,676, with the next resistance zone around 64,038.94. A breakout above this level could open the path to higher levels. Key Resistance: The next significant resistance lies between 66,000 to 66,100. Watch for price action at this zone as it may trigger either a pullback or consolidation. Support Zone: In the event of a pullback, a strong support area lies around 62,300 to 62,500. This is a good re-entry point if prices dip. News Impact: Monitor any global or regional market news as geopolitical tension or economic announcements could push volatility. Trade Direction: Enter long positions on bullish momentum, especially after breaking the 64,000 level. A pullback near 62,500 offers a chance for additional buys. Target the 66,000 zone, but consider partial profit-taking at key resistance levels.
by Suyouu