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Descending Channel

EURUSD → The fall may continue from the nearest resistance FX:EURUSD is forming a bearish trend amid a fundamentally strong dollar index, which is in a bullish rally phase, which is generally negative for the euro. Price broke a strong support line earlier on the global timeframe. Consolidation is formed below the line, which in general determines for us a medium-term perspective, the target of which may be 1.052, behind which there is a huge pool of liquidity. On H1 the price is forming a sideways flat and before a further fall there may be a retest of the resistance in order to capture liquidity. Resistance levels: 1.0700 Support levels: 1.0600 Technically, before further decline the price may test the resistance of the range on the background of stopping the growth of the dollar, but in general, there are no reasons for a change of trend and accordingly, with a high degree of probability, the decline may continue. Regards R. Linda!
Short
by RLinda
3
NZDUSD → The currency pair is preparing to go even lower OANDA:NZDUSD is declining amid a strong dollar rally. The negative background for the currency pair has persisted for quite a long time and there is no reason to change this tone at the moment. On W1, we can clearly see the general trend on the part of strong bears, who continue to sell off the currency pair and the New Zealand dollar. On H4 it is worth paying attention to the intermediate level of 0.5900. The breakout and subsequent price consolidation below this level will form the potential for the continuation of the decline. Resistance levels: 0.5940, 0.6000 Support levels: 0.5900, 0.5850 Technically, we have a bearish trend and support retest, which only strengthens the bearish potential on the negative fundamental background. We are waiting for a decline to lower targets. Regards R. Linda!
Short
by RLinda
2
GBPUSD → Weak pound sterling will test new lows FX:GBPUSD is going to leave the sideways range with the negative fundamental background. On D1 the price is breaking the trend line, and at the same time the dollar is conquering new highs. The pair is declining amid the strengthening of the dollar index, which is connected with the news on inflation. The medium-term outlook is defined and thus gives us an indication of a possible decline. At the moment the key area is the zone of 1.2518. A breakout and consolidation of the price below this zone will be a confirmation of the bears' intention to go even lower. The pound is weak and may update the lows. Resistance levels: 1.25697 Support levels: 1.2518, 1.24489 Technically, amid the strong dollar, the pound is testing new lows and is preparing to go even lower. I do not think that the bulls at 1.2518 will hold the price for a long time. We are waiting for a breakout and further decline. Regards R. Linda!
Short
by RLinda
2
Bitcoin dominance teasing a break above the purple channel.The fomo of people wanting to start piling into bitcoin is intensifying and we can see that here in the bitcoin dominance chart as price action is starting to poke its head above this purple channel we’ve been consolidating in for some time. For it to truly break out. Of this channel it’s gonna need to flip the tan trendline just above it to solid up port though. A rejection from that tan trendline could send bitcoin back inside the purple channel. Should it flip the tan trendline to support, you can see the dotted purple line that will lead us to the full measured move target. We can also see a dotted green measured move line from a different chart pattern to the left of that also having a price target that is close to the same range, which bolsters the probability of the purple target being reached with some nice bullish confluence. No confirmation of the breakout just yet but If we can get a full candle closing above the channel in its entirety that will likely be a bi sign that its ready to trigger. First things first is just getting part of a 1day candle body to close above the top trendline of the purple channel. SHould this confirm its breakout then we are likely to see bitcoin pump on its own while most of the alts only go sideways or have very little increase in price until bitcoin dominance has reached its full target. *not financial advice*
CRYPTOCAP:BTC.D
by DrDovetail
EURUSD → CPI ahead. What should we prepare for?FX:EURUSD is testing 1.0864 for a breakout. The price is heading towards downtrend resistance. Unpredictable CPI ahead, but technically the currency pair could bounce back down. All eyes are on the consumer price index today. Traders expect a strong decline in the CPI from 0.4% to 0.3%, which generally indicates the state of inflation and is a strong lever for the Fed when making interest rate decisions. Dollar index continue to decline amid news expectations, which makes the euro strengthen towards resistance. There is a high probability to see neutral-positive CPI data, which may support the trend of the currency pair. Resistance levels: 1.08643, channel resistance, 1.09374 Support levels: 1.08027, 1.07365 Technically, on the background of the news, the price may test the resistance of the downtrend and after capturing liquidity to continue the decline to the targets indicated on the chart. Regards, R. Linda!
Short
by RLinda
2
Bitcoin is ready for a 15% crash! (to 58k)Bitcoin may look pretty bullish, but do not get distracted. The price is forming a bearish distribution pattern inside a bearish parallel channel, as you can see on the chart. Right now, the odds are in favor of another crash. I am not saying this only because of the price action, but also because of the Elliott wave theory: as per my wave count, I am expecting bitcoin to finish wave (C) with a 1:1 Fibonacci extension level. Also look at previous waves, and waves (B) at this point look like an ABC bearish pattern.  Why is 58K important? We have a major swing low from March 5, 2024, and clearly there is a lot of liquidity and orders from retail traders. The whales need to consistently go for strong liquidity levels, as that's their only chance to buy bitcoin with a large amount of money. What they want to do is buy as much Bitcoin as liquidity allows and then send the price to the moon.  Right now, I really cannot be bullish on Bitcoin, but let me know your opinion in the comment section! I will be very glad. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
152
AUDUSD → Test resistance for an upward breakout FX:AUDUSD forms a retest of the descending channel resistance, but there is no fall. Against the background of the dollar correction, the currency pair may move into the realization phase after the channel breakout. Moving averages, trend resistance and pre-breakout consolidation, with strong support zones, to which a large buyer does not let the price go. An interesting setup in the current conditions may form an attempt to change the trend. The key area is 0.6585. Consolidation of the price above this boundary may allow to overcome the obstacle and finally let the price strengthen to 0.66676, or to 0.67287. Resistance levels: 0.6585, 0.6620 Support levels: 0.6551, 0.6504 Technically, there is a strong accumulation and prerequisites for a breakout. The resistance breakout will confirm the activation of the realization phase, which will give us a good bullish momentum. Regards R. Linda!
Long
by RLinda
3
DOGE → The realization of the breakdown could give us 50-70%BINANCE:DOGEUSDT is attempting to break through the correction in order to continue the uptrend. On W1 the price enters a new channel and opens a new potential. On D1 a reversal pattern is forming with the subsequent formation of a pre-breakout formation. The market is buying back the fall in a few days and preparing for realization. This generally indicates a high interest in the coin. On W1 DOGE enters a new channel 0.16 - 0.34, which in general opens a huge potential for the meme coin in the medium and long term. On H4, the price breaks the bearish channel resistance (correction channel). A consolidation above the resistance and a retest of the 0.1800 area is being formed. A breakout of this line will open the potential for the coin and also confirm the end of the correction. Resistance levels: 0.1800, 0.20637 Support levels: 0.16900, 0.14528 I expect the realization of the breakout of resistance with the subsequent distribution of the price to the specified targets Regards R. Linda!
Long
by RLinda
13
Rumble (RUM) Macro developments found looking like a solid buyHi guys. As always, im on the lookout for macro developments or signals found in assets. Which pose for high probability/ best scenario for taking positions. Rumble (RUM) is on my radar for this idea post. My analysis is on the 1 week timeframe. As you can see RUM has been in a Descending channel since Feb 2022. Recently we reached the bottom of the channel at 3.43 level. And began our recent rally. We are as of now, in the process of breaking out of this Descending channel. This is HUGE. The trend is beginning to shift in RUM. So we can call it a trend change attempt. If we can confirm out of this Descending Channel. This is extremely bullish in my opinion for RUM. It will negate the downtrend and give a sign that we may now be starting an uptrend in RUM, marking a bottom as well. VOlume looks great with an increase. Our MACD indicator is also giving signs of an Uptrend. With a bull cross ABOVE the 0 lvl indicating great opportunity as long as we continue this MACD trend. Target 1 is around the $10.00 Target 2 is around $12.00
NASDAQ:RUMLong
by SafofAllTrades
2
EURUSD → How can NFP affect the currency pair? FX:EURUSD is unfolding within the framework of the downtrend. The price fails to reach the key support and gains a buyer amid the correction of the dollar index. The market is waiting for NonFarm Payrolls Chart on D1 - price has no clear global trend, the market is in neutral flat. A false breakdown of the ascending support line is formed, after which the market gets a buyer. The market is expecting NFP today, Traders want to see 212K relative to the previous 275. On the back of a slight rise in Initial Jobless Claims NFP all may be a bit higher than 212K, which may increase volatility a bit. Channel and range resistance at 1.08975 is worth watching. Support levels: 1.07958 Resistance levels: 1.08643, 1.08975 Technically, if NFP is worse than expected, the currency pair may try to break the trend resistance and head towards 1.10. But, there is a high probability to see NFP above 212K, which will have a negative impact on the currency pair. Regards R. Linda!
Short
by RLinda
3
AUDUSD → Price is getting ready to break support FX:AUDUSD is forming a downtrend amid the growing dollar index. The currency pair is under pressure from sellers. Support level 0.64039 is forming on D1, which continues to hold the market. But, the buyers' urge may be broken, as the price continues to squeeze to the support and is gaining potential for this. On the background of the rising USD and weakening Aussie, the sellers have high chances. The target in this case will be the area of 0.6443 and 0.6352. Resistance levels: 0.6540 Support levels: 0.6504, 0.6443 Technically, the currency pair has a negative background and most likely the decline will continue. A break of this support will give a bearish impulse. Regards R. Linda!
Short
by RLinda
5
An update on my dogeusd chart.Doge finally triggering the breakup from the tan channel after doing a fakeout the first time it got above the top trendline of the channel. Sizable pump that is already getting rather close to reaching the full target. We can also see that we have broken upward from the purple symmetrical triangle right at its apex which has an even high target. The current candle body resistance is also the top trendline of an even bigger triangle doge has been consolidating inside for awhile. We will have to break above it in order to hit the full target of the tan channels breakout, however it is still a good probability that once we hit the full target of the tan channel breakout, priceaction could then dip back down and still close inside of the bigger triangle pattern for awhile. Being at this almost hyperparabolic phase of the bull market though its also quite possible we retest the top trendline of the bigger triangle as support after hitting the full tan channel breakout target too, in which case doge would continue up from from here once it solidified that support and start working on validating the breakout of the bigger triangle.
BINANCE:DOGEUSD
by DrDovetail
4
GMTUSDT → the coin is moving into the realization phaseBINANCE:GMTUSDT is entering the realization phase after a long accumulation. Price is testing resistance for a breakout. On the High timeframe, the coin is testing the resistance area. A breakout and bullish momentum is forming. A price consolidation above 0.4000 will open a new potential for the bulls. The coin is quite far behind the market and if the bulls keep the price in the new zone, a long rally to 1.11 and 1.75 may be waiting for us ahead. Technically, now we are interested in 0.4060 and the upper boundary of the channel. Possible retest after the breakout, but price consolidation above this zone will form an intermediate bottom, which will favor the market. Resistance levels: 0.4060, 0.4867 Support levels: 0.2566 The market is ready to turn around and show us strong growth, but for this the bulls need to keep the price in the green zone. Regards R. Linda!
Long
by RLinda
7
EurUsd - 1.000 Pip DropHello Traders, welcome to today's analysis of EurUsd. -------- Explanation of my video analysis: EurUsd has been trading in a pretty obvious descending channel for over a decade and is currently retesting the top resistance of the channel. Furthermore there is a horizontal structure level around the $1.09 level which is also acting as resistance. I am expecting more bearish pressure on EurUsd to eventually retest the lower support of the channel pattern. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
by basictradingtv
1
BTT can 200x in the next bull market. Time to buy?BTT (BitTorrent is one of the biggest torrent clients in the world. Fundamentals are strong, and technicals are as well. We have the biggest candle in history; this is a serious business. I am expecting at least 100x - 200x in the next bull market. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! BitTorrent’s original goal was to disrupt the legacy entertainment industry and how consumers obtain content. Expensive and inefficient distribution networks were the main target, with original developer Bram Cohen seeing benefits in allowing internet users to distribute content among themselves directly. In the early 2000s, BitTorrent became the go-to P2P file sharing platform, with TRON stepping in 2018. Under TRON, BitTorrent has expanded its user appeal to those interested in decentralized solutions and cryptocurrency, as well as to its own user base. Among the added features are BitTorrent Speed, which uses the BTT token as part of its operations. BitTorrent has also branched out into paid services, offering several “premium” versions of its platform which include VPN capabilities and ad-free browsing. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
45
Rune will 15x in 2024! Buy this coin immediately.Technical analysis Rune is an extremely bullish coin and will hit a new all-time high relatively soon! It's still a good time to buy this coin and make a very nice 1500% profit this year. Why? As we can see, the coin is breaking out of the descending parallel channel on the weekly chart. Always wait for the rarest, but the retest already happened, so I don't think this coin will go down anymore. You can take the profit early or hold it to my ultimate target, which is a 1.618 FIB extension. Volume is extremely high, we have almost a record, which confirms my idea! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. What Makes THORChain Unique? THORChain enables native asset settlement, allowing users to swap Bitcoin, Ether, Stablecoins, and other coins across 9 distinct blockchains. THORChain does not wrap or peg assets, instead it allows value to be exchanged from one coin on one blockchain to another coin on another chain. THORChain uses a unique system to help mitigate the issue of “impermanent losses” — or the often temporary losses that a liquidity provider can experience when contributing to liquidity pools. It achieves this by using a slip-based fee to help ensure liquidity stays where it is needed. THORChain combines a range of novel technologies, including on-way state pegs, a state machine, the Bifröst Signer Module and a TSS protocol to seamlessly facilitate cross-chain token swaps permissionlessly. This is all kept behind the scenes, making the platform accessible to even inexperienced traders. The protocol isn't profit-oriented. All fees generated by the protocol go directly to the participants eg. node operators and liquidity providers, and there are no provisions for the team. Instead, the team is incentivized by simply holding RUNE — just like everyone else. THORChain enables Streaming Swaps which allow large swaps to be broken up into many smaller swaps over time, which significantly reduces swap fees for users. Other than swaps, THORChain offers single-sided liquidity provision through Savers. Users can provide Layer 1 assets such as BTC and earn single-sided yield without impermanent loss. THORChain also hosts a flagship Lending protocol where users can borrow against their native BTC or ETH and receive a USD-denominated debt in the asset of their choosing. The loans have no liquidations, no interest, and no expiration. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
14
EURGBP → Transition of the market to the distribution phase FX:EURGBP on the background of stronger decrease of GBP than EUR, connected mainly on the background of economic and geopolitical factors allows the currency pair to break the resistance of consolidation. Globally, the currency pair is in neutral-negative condition, as there is no clear trend, at the same time a wedge and symmetrical triangle are traced on the background of weak downward movement. But, the breakthrough of the upper boundary of consolidation can become the beginning of a local bullish trend. In general, there is a potential for price growth by 1 - 1.5%. On H4, the price breaks the resistance of the long consolidation, which technically puts the market in the distribution state. It is worth paying attention to the resistance at 0.8588. Breakout and consolidation of this boundary will open the price a new way up. Resistance levels: 0.8533, 0.8621, 0.8699. Support levels: 0.8533, 0.8500 The market has a potential for further growth. I am waiting for a breakthrough of the above resistance with further growth to the targets on the chart. Regards R. Linda!
Long
by RLinda
1