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FETCH AI ($FET) - Bullish Scenario to 90 Cents Fetch is currently testing monthly resistance (red) and above a significant macro support level (green) with a lower time frame range that has formed in the current PA. I see additional consolidation before a next leg up to 90 cents. Currently monitoring for a long setup lower down toward the range's lower quarter quadrant, but want to see a low establish and reclaim the eq and continued strength up. Consolidation here is bullish under macro resistance, so long as the market does not get exhausted before this trade can materialize. Invalidated on a break of the range low. **Disclaimer - entry is not from here and should be taken from lower** Cheers, Vatsik
Long
by cryptovatsik
GOLD → Consolidation on weak fundamental background FOREXCOM:XAUUSD remains within consolidation for several days. The market stands still due to the uncertain fundamental environment. The CAPITALCOM:DXY stands in a narrow consolidation, but at the same time forms an ascending triangle, which can be interpreted as bullish consolidation, pushing the price to resistance with the aim of breaking the limit resistance level. If the dollar starts to strengthen, which is expected on the background of the pattern, gold will then start to realize the scenario we expect. Fundamentally, on Friday and Monday, Fed officials made it clear to the market that Powell said nonsense about the rate easing discussion and started to put things in order: a rate cut is possible in March, but it is too early to discuss it now, as inflation is still high and a rate hike is possible. Hence, this is a negative fundamental backdrop for gold. Gold is now in consolidation and heading towards resistance for a retest before a possible fall. Support levels: 2023, 2020, 2010 Resistance levels: 2030, 2033.6 There is a high chance that after the resistance is retested, gold will start a downward phase, as below the above mentioned zones and below the lows there is an area of interest to the market maker - areas of imbalance formed on the background of the strongest rally a few weeks ago. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
7
🇬🇧 GBPUSD 🇺🇸 - Correction within the ascending channel The currency pair is forming a correction after a false break of the ascending channel resistance. The way is open to reach the lower boundary of the channel. The fundamental background is favorable for the decline, as the news strengthens the dollar, which affects the pound sterling. Suggested decline ↓: 1) false break of channel resistance 2) false break of 1.273 resistance 3) support retest 4) Consolidation before breakout 5) Correction phase
Short
by AndeWave
2
Dynatrace Inc. ($DT): Tech Momentum and Profit PotentialCompany Overview: Dynatrace Inc. ( NYSE:DT ) operates in the Technology sector, focusing on Software - Application development. As a USA-based company, Dynatrace plays a pivotal role in the ever-evolving landscape of software solutions. Analysis Summary: Dynatrace Inc. exhibits strong market signals, characterized by Pull Back (PB), Pocket Pivot, Accumulation, and Bullish Price Volume. In the Technology sector, the stock displays a Relative Strength of 1.45, outperforming its sector and boasting a notable 2.98 against the SP500, indicating a robust competitive position. The Up/Down (U/D) Ratios for both 50 and 15 days reveal a favorable market sentiment, showcasing a consistent trend of positive price movements. The detected base depth of 27.64% underscores the potential for sustained growth, positioning NYSE:DT as an attractive option in the software application sector. Recent market dynamics indicate a bullish trend, with the last closing price hovering -2.22% away from base resistance. The volume, surging 47.2% above its 15-day average, reflects strong investor interest and participation in the stock. Over the past 10 days, Dynatrace Inc. has shown rising trends in price, volume, and accumulation, indicating a positive market sentiment. The stock's resilience is further evident as it rises above its 50-day Exponential Moving Average (EMA). Historically, local tops for Dynatrace are observed when the price closes around 23.7% above its 50 EMA. With the current closing price at a modest 7.16% deviation from the 50 EMA, there is potential for further upward movement. Trade Idea: A strategic entry at $54.73, slightly above the last closing price, aligns with the observed market signals. To manage risks effectively, a well-placed stop loss at $53.45, based on recent lows, provides a safety net for investors. With a calculated potential upside of 16.34%, the price target of $63.56 offers investors a clear projection. A 6.71 Reward-to-Risk (R/R) ratio positions the trade as an attractive opportunity. Investors entering at $54.73 should monitor market developments closely, utilizing the stop loss as a safeguard in this dynamic software application play.
NYSE:DTLong
by HaseebKhan_90
🥇 GOLD - Targets are much lower. The session starts with a dropThe selling continues. Markets are leading the price towards the global target, where the rally started, due to heavy buying volumes. The weak fundamental background related to NFP, Initial Jobless Claims, supports the dollar, on which background gold will weaken The beginning of correction ↓: 1) Breakout of local support lines 2) Accumulation before further decline 3) Downward triangle 4) Market continues to update lows 5) Weak fundamental background
OANDA:XAUUSDShort
by AndeWave
6
Is $MDXG ready to move higher from here?Mimedx Group Inc ( NASDAQ:MDXG ) Analysis Sector: Healthcare - Biotechnology | Country: USA Company Overview: Mimedx Group Inc, operating in the dynamic biotechnology sector, holds a prominent position in the healthcare industry. With a focus on innovation and biotechnological advancements, the company plays a crucial role in shaping the future of healthcare solutions, contributing to its prominence in the small-cap segment. Performance Metrics: NASDAQ:MDXG showcases compelling signals and robust performance metrics within the small-cap segment, underscoring its potential for growth and resilience in the biotechnology sector. Relative Strength: Exhibiting a strong relative strength of 6.49 against the sector and 2.48 against the S&P500, NASDAQ:MDXG demonstrates significant outperformance, emphasizing its competitive advantage and market positioning. U/D Ratios: With U/D ratios standing at 1.42 (50 days) and an impressive 4.92 (15 days), NASDAQ:MDXG reflects positive market sentiment, highlighting recent bullish activity and supporting a favorable outlook. Detected Base Depth: A robust detected base depth of 50.88% signifies a substantial foundational level, indicating potential for significant upward movement. Price Dynamics: The last closing price's deviation of -7.09% from base resistance suggests a current undervaluation, positioning NASDAQ:MDXG strategically for potential breakout opportunities. Current volume, standing at 26.95% above the 15-day average, indicates heightened investor interest and active participation, contributing to a positive sentiment among market participants. Recent candlestick patterns reveal a 1.4% range in the last candle body and a solid 64.0% closing range, indicating recent price stability and a robust closing stance. Short-term Trends: Over the last 10 days, NASDAQ:MDXG has experienced a rising price, accompanied by increasing volume and accumulation. This alignment suggests a bullish sentiment among investors, supported by short-term positive trends. EMA Analysis: Historical EMA patterns indicate that NASDAQ:MDXG typically encounters local tops when the price closes around 52.01% above its 50-day Exponential Moving Average (EMA). Currently, the last closing price is 13.33% away from the 50 EMA, providing insights into potential correction levels. Trade Idea: With an entry point set at $8.09, the trade idea presents an early entry opportunity based on current market dynamics. A disciplined stop loss at $7.77 mitigates risk at 4%, aligning with prudent risk management principles. The trade targets an attractive 9.62 Risk-Reward (RR) ratio, with a target price of $11.2, anticipating a total profit of 38.48%. Conclusion: Mimedx Group Inc ( NASDAQ:MDXG ) emerges as a promising player in the biotechnology sector, backed by impressive relative strength, positive short-term trends, and insightful EMA dynamics. The proposed trade idea aligns with an early entry strategy, presenting an attractive risk-reward profile for investors seeking opportunities in the evolving landscape of biotechnological advancements.
NASDAQ:MDXGLong
by HaseebKhan_90
EURUSD → A retest of support will show further potential FX:EURUSD is forming a correction phase, within which it aims to test the support of the forming range. There are key nuances that suggest a further bullish trend, but there are also those that hint at a possible medium-term decline. The market is laying further TVC:DXY weakness amid interest rate cuts from the Fed. EURUSD is currently in correction on the background of bullish trend. Key support area: 1.0840-1.0830. The market is likely to test this area in the format of a false breakdown, as there is a strong support zone in this area. Consolidation above this area will give a potential for buying. It is also worth paying attention to the fact that below the support is MA-200, which can also favorably affect the market recovery. But, on D1 the market is not reacting to the previously formed false support breakout. If the price continues to form a squeeze to the support at 1.0844 - 1.0830, we should expect a breakout attempt with a phase of further decline to 1.08 - 1.07. Support levels: 1.0844, 1.0830, 1.0777 Resistance levels: 1.08875, 1.0965 A retest of the support area will show further potential. False breakout will give the opportunity to buy, and the breakout and consolidation of the price below the area will return the price to the channel. Regards R. Linda!
Long
by RLinda
17
HelenP. I Ripple can make small movement up and then bounce downHi folks today I'm prepared for you Ripple analytics. Some time ago price declined to the 0.6700 resistance level, which coincided with the resistance zone, and in a short time broke it. After this, the price some time traded near this level and then continued to decline to the 0.6000 support level, which coincided with the support zone. As well, Ripple entered to consolidation, where it first tried to rise, but failed and declined until to support zone. Later XRP rose higher than the 0.6000 level, but soon price fell back to the support zone and even lower. After this movement, Ripple rebounded back to consolidation, made a correction to the support zone, and continued to trades in this range. A few time later price rebounded from this zone and rose to 0.6400 points, but recently it a little fell. For this reason, I expect that Ripple can make a small movement up and then rebound down to the support zone. That's why I set my target at the 0.5900 level, which is located in this zone. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
10
GOLD → Price in range, correction may go lower OANDA:XAUUSD is forming another range of 2050 - 2038. Retest of resistance failed to renew the maximum, thus the market may begin to form a correction to support. The TVC:DXY has been strengthening since yesterday on the back of positive US GDP data. The expectation was 4.9, the actual data: 5.2, which is positive for the dollar. But the controversial situation here is that a more positive GDP has a greater impact not on the pricing of the dollar, but on the Fed's stance. Hence, with bullish data, Powell is getting closer to initiating policy easing and rate cuts. Since gold is in a range and already testing the support at 2038, it seems that the correction phase can be stopped either at this level or test areas lower, for example: 0.382 fibo, 2035, 0.5 fibo or global trend support. A strong rally ends with a correction and it is hard to say where this correction will stop. Support levels: 2037.7, 2035, 2030, 2022 Resistance levels: 2050, 2052, 2059 There are important news today, it is worth paying attention to the Initial Jobless Claims, even relatively good news for the dollar (related to inflation) can weaken its price, as the market is waiting for news related to monetary policy. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
34
GOLD → Consolidation 2010-2018. What can happen? OANDA:XAUUSD within a strong bullish trend is forming a consolidation in the 2018 - 2010 range. Lower volatility is forming and several candlestick indications are forming that price may test support before further distribution. On D1 we can see that the leading asset, in our case it is the TVC:DXY , is testing support, which may trigger a correction to local resistance, which will have a corresponding effect on the slave asset (gold may also start a correction within this range). The trend is bullish, moving averages and key levels support this direction, there is no sense to talk about any medium-term and long-term sales now. The market within the consolidation will form a lot of opportunities to gather as much liquidity as possible before further movement in one or another direction. Consequently, border touches, false breakdowns and long shadows can be formed relative to the 2018-2010 range (consolidation). But this is not the only scenario. A breakdown is possible with a quick retest with reduced volatility. In the long term, we should wait for a breakout of resistance. Support levels: 2010, 2007, 2004, 2000 Resistance levels: 2018, 2020, 2022 I expect consolidation within the range with the subsequent breakout of resistance, which can happen after a correction or after a quick retest of 2018 Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
13
HelenP. I Ethereum can rebound back to the resistance zoneHi folks today I'm prepared for you Ethereum analytics. A few days ago price declined to support 2, which coincided with the support zone and some time traded close. After this, ETH rebounded from support 2 and made impulse up to support 1, broke it, and rose until to the resistance zone, which coincided with the resistance level. Then price rebounded back to support 1 and started to trades in consolidation as well. Ethereum some time traded very close to this level and then repeated movement up to the resistance zone. But a not long time ago price bounced and fell below the resistance level. And now it continues to trades inside consolidation and I expect that Ethereum can decline a little more and then rebound back to the resistance zone. That's why I set my target at 2125, which coincided with the resistance zone inside consolidation. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
3
GOLD → Support retest and low volatility is expected OANDA:XAUUSD may be low-volatility on Thursday ( today ) and form a narrow range as it is Thanksgiving Day in the US and in Canada, which I would like to congratulate the people of these two countries!!! Moving on to gold : The market continues to test the 1984 area. False breakdowns, prolonged trading in this area indicates that buyers and sellers are fighting for this area. A prolonged consolidation of the price above 1984 will form a bullish potential, which will indicate medium-term prospects for us. The TVC:DXY will stand still today, which will affect the forex market accordingly. Gold makes a false break of the local support 1994 and bounces from 0.5 fibo, but the important liquidity area has not been tested yet. It is likely that the dollar may continue to strengthen slightly on Friday, while gold may go lower to 1984 or trend support, but the fundamental background is still on the side of gold and we are still waiting for the continuation of the rise. Support levels: 1993, 0.5 fibo, 1984 Resistance levels: 1998, 0.236 fibo Today the price will trade within the narrow range of 1998 - 1993, 1990. A range trading strategy can be used for trading. Do not consider gold for medium-term selling at the moment, there is no reason to do so, the market is still technically and fundamentally strong for growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
10
NEO - RELOADEDSince August 2023, NEO has had a strong run, as have many altcoins, growing ~141%. It is now trading above all EMA's and recently rebounded from the 20-day EMA as support. NEO was one of the first 'larger' altcoins to break out of the bearish to bullish phase a few weeks ago. Since then, it has attempted to break the resistance at ~$15 - $15.60, 3-5 times resulting in long wicks. Each time, the resistance won and short-term support was found with the strongest at ~$11.19. Provided BTC continues consolidating or growing, we can see NEO push even further, targeting the $20 area (67% gain). If this doesn't happen, we could see NEO continue consolidating in the value area between $11 - $14 or finding longer-term support around $9 before proceeding to try again. If it consolidates, NEO could move to the top of the value area in the short-term for a modest 16% gain. Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only. Please feel free to leave your comments and thoughts below!
Long
by kush23456
BTC Daily chart 30th October 2023After a nice rally COINBASE:BTCUSD is currently consolidation around the 34k area. On the daily chart we can see a double top forming which could lead to a correction in the near future. In my opinion, a double-top + correction will be a good thing. If BTC can find support above the 32k support zone (previously an important resistance zone) the recent breakout will be validated and will convince more investors that the bullrun has indeed started resulting in more volume which is needed for the rally to continue. On the more bearish side, if BTC falls through the 31k support line this could invalidate the recent rally. But, we already have a daily and weekly close above the 32k line and hopefully tomorrow even a monthly close, making it more and more likely for BTC to hold on to the newly conquered levels and finding support above 31-32k. Small word of caution : Unexpected surprises are still possible depending on news about a BTC ETF, which is currently an import factor in determining the BTC price. If an ETF is approved, BTC will likely explode upward and won't need confirmation of the recent rally. If an ETF is rejected, we could lose all the recent gains even if BTC finds support above 32k. This event will probably negate any form of technical analysis.
COINBASE:BTCUSD
by Bullissimo
2
Textbook Consolidation Rectangle -EGHere we have EUR/GBP on the 4Hr Chart in a beautiful textbook example of a Consolidation Rectangle Pattern! Clearly respecting a Resistance @ .87403 and Support @ .86829! Accompanying price on my chart is the 200 EMA with price ABOVE it showing it has been BULLISH with the dirty test prior to the pattern. Along with the Bollinger Bands showing CLEAR signs of sideways trajectory! Fundamentally for today: EUR - Spanish Unemployment Change @ 3am and Unemployment Rate @ 5am GBP - CIPS UK PMI @ 4:30am and MPC Members Pill & Haskei speak @ 7am & 11am As far as directional bias, I will be neutral on this pair until we are given a proper break with added confluence of other factors pointing to solid momentum! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
by Novi_Fibonacci
Market Update - November 3rd 2023 Bitcoin holds onto gains as a golden cross appears: Bitcoin (BTC) consolidated around $35k USD this week after its price action exhibited a “golden cross” on the daily BTC chart. Market observers have suggested that such price action could portend a continued upward trajectory for the leading crypto. Sam Bankman-Fried found guilty on all counts: Sam Bankman-Fried, the founder and former CEO of FTX, was found guilty on all seven counts. He faces up to over 100 years in prison. The sentencing hearing is tentatively set for March 28, 2024. In closing arguments this week, prosecutors argued that SBF built his FTX empire on a “foundation of lies and false promises” describing him squarely as a liar who fabricated a “pyramid of deceit.” The defense sought to convince the jury that SBF had simply made mistakes that culminated in the collapse of his once $32 billion empire. Solana leads altcoin charge as ether lags: Altcoins performed well this week, with Solana (SOL) a notable outperformer, rallying 24%. Research analysts have pointed to SOL’s high throughput and growing developer activity as fundamental catalysts for the rally. Other notable high-performers include Decentraland (MANA) +16%, Uniswap (UNI) +13%, Cardano (ADA) +11%, Polkadot (DOT) +11% and Ripple (XRP) +11%. Ether (ETH) prices did not follow suit gaining around 1.7% this week. Federal Reserve holds rates steady and yields continue to dip: The Federal Reserve held its target interest range between 5.25%-5.5% this week. The Fed did not rule out the possibility of future interest hikes depending on economic data, whereas most analysts have ruled out any additional hikes this year. Treasury yields continued their decline, with the 10-year treasury yield dropping 12 basis points after the Fed meeting. 📊Topic of the Week: Technical Analysis ➡️Read more here
GEMINI:BTCUSD
by Gemini
ETH's Nested Flags: Bull Flag within a Bear FlagPrimary Chart: Weekly Candle Chart of ETH/USD with Competing Flag Scenarios Longer-Term Analysis BITSTAMP:ETHUSD has been largely in a trading range since making its low in June 2022. Yes, some of the moves within that range have been quite substantial. The move off the June 2022 low to the early August 2022 high was about +130.59% higher. The next leg higher from the early November 2022 low to the April 2023 high was about a +99% move. In between those moves was a substantial -47.29% downdraft. (Downdrafts may have quite a smaller percentage because the starting point begins much higher than the starting point for an up move.) But big volatility, huge moves, don't guarantee a strong trend either way. A stock can chop up and down in a volatile way while its overall progress remains relatively insignificant given the volatility and moves. Consider the 1-year uptrend on the Primary Chart. The trend does not form a powerful, steep upward slope, moving sharply higher for many weeks consecutively like other charts we have come to see in recent months, e.g., NVDA, AAPL. Instead, the trend has largely been sideways with a modest uptrend with only a gradual incline despite the big moves within this well-defined channel. This could be a bear flag, though that is not yet confirmed. It's a scenario in any case that should be kept in mind on a break of the upward trendline from June 2022 lows. 1. Bear-Flag Scenario: Chart A (also shown on the primary chart) Notice how the VWAPs confirm the largely sideways ranging action. The VWAP from the all-time high and the VWAP from 2022 lows have been containing the price action YTD in 2023. Despite the gentle uptrend slope, the anchored VWAP from the all-time high reminds us of a more dynamic and flexible measure of trend, which is down from the all-time high in 2021. 2. Anchored VWAP from All-Time High: Chart B The anchored VWAP from the all-time high remains formidable to price. Notice is power in resisting price up until now. However, the last rejection did not send price to new lows. This confirms the choppy sideways thesis for now. While the dark-blue VWAP from the ATH did reject price in April 2023, price has remained well above the anchored VWAP from the major June 2022 low. Currently, the ATH-anchored VWAP lies at $2,038. A close above this level suggests at least further upside in the near term. Traders of all time frames should keep this area in mind—it's sort of like a super-highway. You don't want to run out in the middle of it without looking carefully both ways. The measured-move area is also shown here. Note that this is a logarithmic chart, so the measured move is somewhat higher than on a linear chart. This post will attempt to display measured moves on both. 3. Three Anchored VWAPS from Key Pivots: Chart C The anchored VWAPs on this chart confirm the consolidation thesis discussed above. The VWAPs are anchored to key swing lows and highs since the all-time high. NOtice how the VWAPs from these various pivots have been compressing and flattening for months. This signifies another major trend move is likely to occur when this long-term consolidation completes. Many hope it will be an upward move back to highs. SquishTrade is less confident of that conclusion given inverted yield curves (see prior posts on this); however, over the coming weeks, maybe months, choppy to somewhat higher prices can occur. 4. Triangle Patterns within Triangle Patterns: Chart D Triangles are consolidation patterns. The fact that we see triangle patterns within triangle patterns supports the idea that this 1-year channel is potentially consolidative of the move that preceded it. No guarantees, but that seems to be a logical inference. Some might counter that this is a major "cup base" though others may struggle to see anything resembling something that might hold one's tea. We'll see. Note: This is a linear chart, with a measured move based on the linear scaling. 5. Triangle pattern on a Logarithmic Chart: Chart E This chart shows a triangle on a logarithmic scale. So now, switching to log scale doesn't necessarily change the thesis just yet. The measured move for the log scale gives a 1-year measured move off of June 2022 lows around $2467. If we extend the measured move to a 1.272 projection of the first leg off the June lows, then it runs up around $3000. Long-term view summarized: As long as the uptrend from June 2022 lows holds, as well as the VWAP from that same bar, price can continue to remain supported, i.e., not crashing, sideways, rallies and dips within the defined ranges. In SquishTrade's view, $2,400 - $3000 is likely the maximum level ETH may achieve between now and the likely recession foretold by the yield curves. But higher-for-longer monetary policy in major European and North American countries may keep the ceiling even lower than that. Caution is warranted unless / until certain persistent (and 40-year record) yield curve inversions have proven that they finally gave a false signal for the first time ever. Shorter-Term Commentary Directional traders may be disappointed in the coming 2-3 weeks. A flag within a flag suggests more choppy price action overall—at least until a breakout of either occurs. The smaller flag may breakout first to the upside and lead us to the upper edge of the channel. The larger flag may breakout to the downside, and lead us to new lows. But neither has happened just yet. So price action for now may respect the ranges that are in play—both horizontal ranges and diagonal ones (channels). But it appears that price could largely could remain rangebound from a broader perspective for the coming weeks. Conclusion Traders and investors love a major directional move. It sparks adrenaline (maybe) and a combination of dreams / hopes or fears / frustration. Some traders wait eagerly at various levels to fade the move (long or short) once it has started to progress in earnest. Others who may have timed a good entry may be busy counting their profits, while trying to calm down enough to figure out a proper exit, and writing on their foreheads a reminder to "move the stop to breakeven." And still others may be sitting back patiently on the sidelines for months or years and hoping for an ideal capitulatory low after the dust has started to settle between buyers and sellers who may finally seem to have exhausted themselves. In short, the confusion and choppiness of sideways to slightly upward price action is merely the market doing price discovery between all sorts of players including long-term underwater buyers who bought above 3500 and keep hoping the price will rise just enough to make them whole (increased supply), long-term holders who are true believers in the holding (reduced supply unless emotions shake them out), short sellers (supply and potential demand when a squeeze starts), derivatives traders (supply and/or demand due to hedging flow), intraday traders, scalpers, and, let's face it, some gamblers too. In general, the market action is a device for transferring wealth from the impatient to the patient, according to one investing legend, Warren Buffett. But sometimes the patient can be the short-term trader and the impatient can be the long-term investor—because a long-term investor may lack the patience to enter or exit properly, and a short-term trader may have the patience and discipline to execute some excellent swing trades, provided risk is managed and entries and exits are well-planned, well-timed and well-executed. Minor disclaimer: This post is in no way advocating any particular investing or trading strategy. Short-term trading and long-term investing can both be either devastating or profitable (or somewhere in between those extremes) to the person engaging in it. And thanks for reading this and for your encouragement and support. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
KRAKEN:ETHUSD
by SquishTrade
39
Surfing the Waves of Shiba Inu's ConsolidationShiba Inu is currently undergoing a consolidation pattern that is approaching a descent to the 50% retracement line with an approximate $0.00000745 price target. This greets the support line of what may be a several week long symmetrical pennant and an opportunity for a short-term trade that garners notable profits. Significant buy back at this level will most likely cause the asset to retrace back to the 78.6% Fibonacci level ($0.00000790). Significant resistance at this level will most likely result in a support touch at 61.8% ($0.00000763) before returning to a resistance range around $0.00000780. This completes the M pattern and places us several days from a potential breakout or breakdown around the second week of November. With a total increase in value of +24.65% during this uptrend, a high volume breakout can take Shiba Inu's price to 0.00000927 while a high volume breakdown can diminish its value to 0.00000599. COINBASE:SHIBUSD
COINBASE:SHIBUSD
by Shepherd_Investor