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DOGE/USD UPDATE: Navigating Entries and Downward TrendWelcome back, gang!! It's time for a quick update on our DOGE/USD trading analysis. Buckle up as we delve deeper into the daily and 4-hour timeframes, uncovering major structural zones and trends that are shaping our next moves. Upon closer inspection, we've identified key structural zones and downtrends, aligning them with Fibonacci levels from the previous leg. Zooming in on the daily chart, we see price touching the 50% mark or the $0.17 level. However, here's the kicker – we're currently below the daily structure and fib level, indicating a continuation of downward pressure. The 4-hour timeframe confirms this with lower lows and highs, solidifying the downward trend. Now, here's the game plan: We need to keep a close eye on price action for the next 1-3 days to determine whether the current level will serve as a loading zone or if we'll break support of the monthly structure, ushering in further downward momentum towards our previous entry zone as mentioned in the previous analysis. Patience is key, my friends. For those brave souls willing to risk it all, you might consider implementing a martingale trading system. But remember, it's not for the faint of heart. On the flip side, dollar-cost averaging (DCA) remains a rock-solid strategy, especially for those who fear missing out on potential rallies from here. However, if you're not feeling it, there's no shame in sitting this one out – missing an opportunity is always better than suffering losses (especially if you're trading versus investing). So, gear up, stay vigilant, and may the trading gods be ever in your favor! Keywords: DOGE/USD, trading analysis update, structural zones, downward trends, Fibonacci levels, daily timeframe, 4-hour timeframe, loading zones, support levels, trading strategies, martingale system, dollar-cost averaging, risk management, trading versus investing.
BINANCE:DOGEUSDLong
by PlutusX
2
ETHBTC trading: BTC halving vs ETH ETF ETHBTC trading: BTC halving vs ETH ETF Amidst the buzz surrounding Bitcoin's halving, Ethereum finds itself at a crucial crossroads, as the Securities and Exchange Commission (SEC) initiates a 21-day comment period for Ethereum ETF applications. A veil of uncertainty remains over the immediate fate of Ethereum ETFs with the potential rejection or approval of VanEck’s application for the Spot Ethereum ETF due on May 23 deadline. A rejection of the Ethereum ETFs might not just apply downward pressure on Ethereum but could affect the whole ecosystem including Bitcoin. Reflecting on the previous Bitcoin halving event on May 11, 2020, which saw a 12% surge in price the following week. It's important to note that attributing these movements solely to the halving remains inconclusive. Various factors such as loose monetary policies and heightened retail investor participation also played influential roles back in 2022, making it challenging to directly link the halving to the market fluctuations. Although a precise date remains unspecified, current estimations suggest the halving is likely to occur by late April, based on the ongoing pace of block validations.
by BlackBull_Markets
RIPPLE (XRP): Daily Chart | Technical AnalysisHi Traders! XRP Coin has not yet experienced the splendor like other Cryptocurrencies, and this is certainly one of the reasons why we are following Ripple, the second reason, and maybe the most important one, is attributable to the technical structure on the daily chart. A few weeks ago we published a potential bullish harmonic structure on the 8H chart (see chart below) which currently still remains valid. At the same time, we have been looking for potential support and resistance areas (0.51 and 0.72), so we cannot yet rule out a bearish consolidation in the near term, but if this happens it should be considered an opportunity to add long positions. As we have already said in the previous analysis, we have two bullish Targets, but certainly the 1.40 area should be reached in the medium term. From our point of view, the bullish reaction from the previous bottom is not impulsive, it looks much more like a corrective structure (ABC for example), so further updates will be necessary. That said, help us reach at least 50 Likes so we can feel free to post new updates as soon as possible below. In conclusion, the best strategy for Day Traders is very simple, buy, buy and... buy on depth! 🔴 HARMONIC STRUCTURE ANALYSIS: (Click on Chart below) Trade with care Like | Share | Comment
BINANCE:XRPUSDLong
by TheAnonymousBanker
LINKUSDT|Important areas and roadmapHi guys You can see the popular currency chart link in the daily time frame. I have identified the important areas of supply and demand for you. Although we have crossed the range area and we have a close candle above this area, but it is placed on an important daily supply area and also the return candle has stabilized. To ensure the continuation of the uptrend, we need to wait for the daily supply area to break. In the second scenario, we can enter selling positions in small time frames by seeing reversal patterns. For the growth of the link, if he gives us a confirmation, we can expect to go up to the target (25.6-2703). ​ SUPPLY ZONE (17.2-18.2) - (17.8-18.8) - (25.6-27.3) DEMAND ZONE (15-15.5) - (13.5-14.5) - (11.7-12.3)
Long
by Golden_Star1994
Litecoin: consolidation in mid-term?Hi Traders! From a technical point of view, CRYPTOCAP:LTC could be very interesting for Day Traders who like to accumulate positions, in fact this is our strategy on this Crypto. Targets on daily time frames are very clear and simple: 102 (Target 1) and 130 (Target 2). The Trend on this Time frame is still bearish, and if the support around 56 area fails, a new bottom is possible before a price recovery, but if this happens it will be an interesting opportunity to add long positions. Trade with care Like | Share | Comment
BINANCE:LTCUSD.PLong
by TheAnonymousBanker
14
XRP: Harmonic Structure in play in mid-term?Hi Traders! In the long term the trend is still bearish especially on high time frames, but if we look at the intraday chart, from a technical point of view we do not exclude the formation of a bullish harmonic structure with potential Target 1 around 1.15 area and subsequently 1.40 area. Having said that, if we look at 8H chart, we see resistance area around 0.6983, but if the trend is bullish and our analysis is correct, after first touch and pullback, we expect an important breakout of it. Trade with care Like | Share | Comment
BINANCE:XRPUSDLong
by TheAnonymousBanker
2