KNCUSDT → Coin shows strength in a weak market BINANCE:KNCUSDT stops its decline in late 2022 at 0.495-0.500, thus forming a bottom. The market holds this area quite confidently. And at some point, on the background of weak BINANCE:BTCUSD , KNC forms a resistance breakout, which could be the first bell
On the chart we can compare the behavior of the last few days of BTC and KNC. The second one feels confident and is ready to strengthen further. While BTC has been in a falling phase for the last 7 days, Kyber network / TetherUs is strengthening already by 28%. Altcoins have been receiving more attention from speculators lately as they are livelier and more active.
The latest retest of the 0.495 bottom on September 12 leads to the formation of a bullish momentum, within which the price makes an attempt to exit the descending range. After the breakout and correction, consolidation is formed above the resistance. If the bulls can finally keep the price above this line, we will be able not only to observe, but also to participate in the price growth to the targets indicated on the chart. The area above 0.955 is quite loose and price could quickly reach 1.200-1.400, but for this to happen we need to get momentum from the previously broken resistance.
Support levels: 0.630, MA200, MA50
Resistance levels: 0.710, 0.834
I expect an active phase from the bulls' side. The first phase is consolidation. After which I will wait for growth to the mentioned areas.
Regards R. Linda!
Descending Channel
EURUSD → The calm before the storm. Breakthrough ↑ or ↓FX:EURUSD continues to form a downtrend. At the moment we see a rebound from resistance and a retest of support at 1.06350, which ends with a slight strengthening of the currency pair
EURUSD is waiting for a reaction from the US market, namely we are all watching the dollar index. It forms a retest of the strong resistance at 105.00 and forms a rather strong consolidation. If the price breaks the resistance, a very strong bullish impulse will be formed, which will affect the whole forex market. But there is a small chance that the 105.0 area will not let the price in and a correction will form, in which case EURUSD may break the trend resistance and form a shakeout to 1.0835. In priority, I expect a retest of 1.06350 followed by a breakout and a decline to 1.05000
Support levels: 1.06350
Resistance levels: 1.0685, 1.0765
The currency pair may break the line on the next support retest. We should be ready for the resistance breakout as well. Watch the reaction of TVC:DXY to the mentioned resistance area.
Regards R. Linda!
USOILUSOIL is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now retesting the broken level, which is also the 50% Fib retracement level.
If the sell momentum continues the next target could be 88 region.
What you guys think of this idea.
AUDCADAUDCAD is trading in more like of descending channel pattern and recently it seems like the sellers are bit exhausted now and the pair is started to get support within the channel.
Currently the price is forming a local support around 0.86400 region and there are chances that a bullish divergence may form here.
Will the bulls take charge again continue for leg higher?
GBPUSD → UK bear market set to weaken further FX:GBPUSD enters a new range amid a global reversal pattern, as evidenced by the breakout of a strong liquidity area and the 200-day moving average
At this stage it is difficult to talk about the strengthening of the price. The currency pair overcomes the mark of 1.24500-1.24000 and enters a new medium-term range, within which the pound can reach 1.20000. This movement can only be broken by strong fundamentals, such as the FOMC & FED press release today at 18:00 GMT . There is not much chance as the CPI (YoY) GBP showed a 0.1 point decline in the index and 0.3 points decline against expectations. The market is weak. From the technical analysis point of view, a small correction may now follow before a further break of 1.23725 and 1.23000 support and further decline to stronger support areas - these could be 1.22500, 1.22000 and 1.20100 area
Resistance levels: 1.2458
Support levels: 1.23725, 1.2309
The market gives us medium-term preconditions for further decline, the fundamental factor of GBP market is now on the side of bears, it is necessary to wait for data from FOMC
FX:GBPUSD TVC:DXY TVC:BXY
Regards R. Linda!
ATOM/USDT Review Chart Hello everyone, I invite you to review the ATOM chart in pair with USDT. First, we will use the blue lines to mark the downward trend channel in which the price moves in the upper range.
Going further, we can move on to marking support areas when we start a larger correction. And here you can see that the price remains at the support zone from $7.08 to $6.09, but if we fall lower, the next support zone starts at $5.10 and ends at $3.70.
Looking the other way, we see that the price currently does not have the strength to break the resistance at $7.90, but when it does, it will move towards the first resistance zone from $8.93 to $9.76, and then towards the second zone from $10.59 to $11.76, then we have strong resistance at $13.25.
Please look at the CHOP index, which indicates that we are quickly regaining energy for a new move, on the RSI we are in the process of recovery, which creates room for new increases, but the STOCH indicator shows that the dynamic movement of energy gives a very small price increase on the chart, which may translate into price recovery again.
NZDCADNZDCAD was trading in descending parallel channel and recently it seems like the sellers are bit exhausted now and bulls took the charge and now has given the breakout from descending channel.
Currently the price is forming a local support around 0.8020 region.
Will the bulls take charge again continue for leg higher?
What you guys think of this idea?
Caution : Hidden Bearish Divergence 🧐📉Understanding Hidden Bearish Divergence:
Hidden bearish divergence occurs when the price of an asset is making higher highs, but the RSI indicator is forming lower highs.
This creates a discrepancy between price action and momentum, suggesting that the bullish trend may be losing strength beneath the surface.
Why Hidden Bearish Divergence Matters:
Hidden bearish divergence is a sign of weakening bullish momentum, potentially signaling an impending trend reversal or correction.
It can be subtle and easy to miss but may be an early warning of a trend shift, especially on longer timeframes.
Proceeding with Caution:
If you spot hidden bearish divergence on the Bitcoin chart, it's essential to exercise caution rather than panic.
Consider it as a potential indication that the bullish trend may be losing steam, not an immediate sell signal.
Confirm your analysis by looking at other technical indicators and market factors.
Risk Management and Strategy:
Implement effective risk management strategies, such as stop-loss orders, to protect your investments.
Diversify your portfolio to spread risk and avoid overexposure to a single asset.
Be prepared to adapt your trading strategy based on evolving market conditions.
The Bigger Picture:
Remember that hidden bearish divergence is just one piece of the puzzle. It's crucial to consider other factors like market sentiment, fundamental analysis, and macroeconomic trends.
Stay informed about news and events that can impact the cryptocurrency market.
Conclusion:
Hidden bearish divergence can be a valuable tool for traders and investors, providing insights into potential shifts in market dynamics. However, it's not a guaranteed sell signal. Instead, it's a call to be vigilant, manage risks, and stay adaptable in your investment approach.
In the world of cryptocurrency, where volatility is the norm, being a savvy investor means paying attention to both the obvious and the subtle signals. By doing so, you can make informed decisions that are more likely to lead to successful outcomes.
Remember, a well-rounded approach to analysis and risk management is your best ally in navigating the crypto market's twists and turns. 📊🧐🚀
GOLD → Bearish Pin-Bar on Negative Fundamental Background OANDA:XAUUSD is testing the upper boundary of the global descending resistance again at the end of last week. The retest occurs at the moment of strong news, but the key candlestick pattern is formed exactly at the moment of FED & FOMC speech, as a result of which the market determines the further prospect of strengthening the dollar and hence - the fall in the price of gold.
In the coming week the market is expecting a lot of important news and I recommend to pay attention to Thursday and Friday. Lots of data that can determine the medium term pespectives for us.
For example:
GDP (QoQ) (Q2)
Initial Jobless Claims
Fed Chair Powell Speaks
Core PCE Price Index (YoY) & (MoM)
Based on the FOMC position from last week we have some views on the market at the moment, but confirmation is also needed.
As for the market situation. I recommend to pay attention to the dollar. During the publication of the data the index only fixed above the level I mentioned earlier and after that it starts to form an impulse. The price opens a corridor to the side of 106 and 107.99, in this case this growth of the TVC:DXY will give a huge potential for a fall in the price of gold. The nearest target support in the medium term is the level of 1902.8.
On the chart above, I have indicated several important levels to pay attention to as the price approaches them. From a global perspective, gold is in a consolidation phase, as evidenced by the monthly chart on the main screen. A strong accumulation zone is forming relative to the resistance area.
In the coming week, I expect a fall towards the 1915 side or even 1900. As we see a sideways range forming and a deep false breakout of resistance with huge liquidity below 1910, this clearly defines the future prospects for the market maker.
Most likely the medium term outlook at the moment is that the market is ready to lose ground further, how long this will hold is unclear, but it all depends on the world view (especially the US) on inflation
OANDA:XAUUSD COMEX:GC1! COMEX_MINI:MGC1! OANDA:XAGUSD COMEX:SI1! TVC:DXY
Regards R. Linda!
Descending Channel on EUR/NZD @ D1A descending channel pattern has formed on the daily chart of the EUR/NZD FX pair and offers a bullish breakout opportunity. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss is to be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel) - it isn't shown on the chart.
💱 EURAUD - The market is preparing for further decline EURAUD is forming a local flat after breaking through 1.6658. The market is forming a retest of support, but there will be a chance of a breakout if the price comes back again after a small rebound
TA on the high timeframe:
1) We have a bearish trend
2) A pre-breakout consolidation is forming near 1.64975
3) Another support retest may break the level and form an impulse to 1.61900
TA on the low timeframe:
1) Price is descending in steps within the bearish channel, which indicates a strong trend
2) Support at 1.64885 and multiple retests of it are forming.
3) The market is preparing to break this line and further fall.
4) The sell signal will be a retest and consolidation below the support level
Key resistance📈: 1.66122
Key support📉: 1.64885
GBPJPYGBPJPY is trading in descending channel and printing consistent LLs LHs. Currently the price is broken the important support zone and also has given the retest of broken level which is also the 50% fib retracement level.
If the sell momentum continues the next target could be 180.500 region.
What you guys think of this idea?
GBPJPY → Pound Sterling correction on the fundamental backgroundFX:GBPJPY is forming an attempt to change the trend. The market on the background of the fundamental component related to inflation and the UK interest rate breaks the support of the ascending price channel and fixes in the red zone
The currency pair is forming consolidation and following the weakening of the Pound Sterling is heading downwards. From the point of view of technical analysis - the main potential target in the medium term is the support at 177.4 - the extreme point of the shakeout before the last rise.
Most likely, when the Central Bank of Great Britain announced the halt of rate hikes and further rate cuts, the currency started to form a correction after the tight policy.
After breaking the support, a correction to the previously broken boundary is formed on the chart and the currency pair consolidates for further decline. In the long term, I expect a medium-term decline in the price to the specified target.
Support levels: 181.2
Resistance levels: 181.96
The medium-term target is indicated on the chart. Fundamental and technical analysis indicate further decline.
Regards R. Linda!
OPUSDTOPUSDT is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now the retest of the broken level is highly possible, which is also the Fib retracement level.
If the sell momentum continues the next target could be 1.210 region.
What you guys think of this idea.
💱EURUSD - A retest of support will lead to a breakout EURUSD will weaken further. The reason for this is further strengthening of the dollar. News from the FOMC suggests further decline in the currency pair
TA on the high timeframe:
1) The market is testing the support at 1.0635
2) The third retest is formed after 4 days - high chance of further support breakout
TA on the low timeframe:
1) The descending price channel continues to form
2) False breakout this morning may give a small correction to 1.06750 before further support breakout
3) EUR support at 1.06350 could break quite quickly amid a weak market. A sell signal would be price consolidation below the level
Key resistance 📈: 1.0675, 1.0707
Key support 📉: 1.0635
GOLD → Negative fundamental background. Shakeout OANDA:XAUUSD surprised many people yesterday, but not us. On the background of the previous days analysis (technical + fundamental) we had an idea about further actions on the market
In brief: Powell left the rate unchanged, but there were a lot of words that if the market remains aggressive, they will apply appropriate measures. And considering the fact that based on all the FOMC & FED actions against inflation, it is only getting stronger, the market can be considered aggressive, hence, the fundamental backdrop for gold is still negative, as the TVC:DXY will continue to rise.
In terms of technical analysis, gold is forming a false breakout of the following liquidity zones: 1928, 1935, 19466 at the moment Powell's speech ends and the market actively sells off the entire rise. On D1 the price again forms a false breakout of trend resistance, preparing the market for further decline. A retest of MA-200 on H1 with a subsequent breakout and decline to 1915 - 1900 may be formed soon
Support levels: 1922, 1915, 1902
Resistance levels: 1928
I expect a possible retest of the nearest resistance areas before a further fall against the negative fundamental background and the current bearish trend
OANDA:XAUUSD CAPITALCOM:GOLD COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY TVC:BXY CAPITALCOM:SILVER OANDA:XAGUSD COMEX:SI1!
Regards R. Linda!
AAVEUSDT → Breakout of descending triangle resistance BINANCE:AAVEUSDT is forming a breakout of the descending triangle resistance. Buyers are confidently holding the bottom, keeping the price below 55.00, but at the same time testing a trend change attempt
AAVE follows BINANCE:BTCUSD . A momentum and a small pullback is forming. This is partly a bad thing. Until bitcoin gets momentum and a breakout of local resistance, the pegged coin will also stand still. If the market doesn't acquire a buyer while the coin consolidates above the broken resistance, the flat formation will continue. Bitcoin is strengthening as it receives fundamentally positive data, mostly related to ETFs.
From a technical analysis perspective, AAVE has good upside potential. A prolonged consolidation for 15 months is forming and the price moving beyond resistance is signaling possible upside. The price is testing the MA-200, if the moving average is broken, there will be a chance for growth to 91.3
Support levels: previously broken resistance, MA50, 55.2.
Resistance levels: MA-200, 69.56.
I expect consolidation above the previously broken trend line with subsequent retest and breakout through MA-200.
Regards R. Linda!
IMXUSDTIMXUSDT was trading in descending parallel channel and recently it seems like the sellers are bit exhausted now and bulls took the charge and now has given the breakout from descending channel.
Currently the price is forming a local support around 0.52 region.
Will the bulls take charge again continue for leg higher?
What you guys think of this idea?
The Descending Channel Pattern 📈🐂Understanding the Descending Channel Pattern:
The descending channel pattern is a price pattern that forms on a chart over an extended period. It consists of two parallel trendlines: an upper trendline that connects the lower highs and a lower trendline that connects the lower lows. These trendlines create a descending channel that slopes downward.
Key Characteristics of the Descending Channel Pattern:
Slope: The channel slopes downward, indicating a gradual decline in price over time.
Support and Resistance: The lower trendline serves as support, and the upper trendline acts as resistance. Prices typically move within this channel.
Duration: Descending channels can persist for weeks, months, or even longer, making them suitable for long-term trading strategies.
Trading the Descending Channel Pattern:
Here's how you can effectively trade the descending channel pattern in Bitcoin:
Identify the Pattern: Begin by identifying a clear descending channel on the Bitcoin chart. Look for multiple touches on the upper and lower trendlines.
Entry Point: Consider entering a long (buy) position when the price approaches the lower trendline, which acts as strong support. This is often an optimal entry point.
Stop-loss: Place a stop-loss order below the lower trendline to manage risk. If the price breaks below this support, it could signal a trend reversal.
Take Profits: Set your take-profit levels near the upper trendline, which acts as resistance. This is where you can consider selling your position to lock in gains.
Confirmation: Look for additional confirmation factors, such as positive news developments, strong trading volume, or bullish indicators, to increase your confidence in the trade.
Eur/Usd (EURUSD) -> Trend ContinuationMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on EurUsd.
Since the beginning of 2008 EurUsd has been trading in a long term falling channel and just recently retested the upper resistance trendline of the channel.
In confluence with a retest of previous support, now turned resistance, and a retest of the 0.618 fibonacci retracement level, I do expect a trend resumption lower from here.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
💱EURUSD - Resistance retest amid DXY growth haltEURUSD is still within a downtrend. On D1 we see the beginning of a reaction to a strong support line. There is a chance that on H1 price could break resistance
TA on the high timeframe:
1) if we pay attention to XAUUSD, gold is rising on the background of DXY growth stop. If the latter starts an active decline (news this week), eurusd will give a bullish impulse to 1.08023
2) Against the background of support retest at 1.0635 we see the beginning of correction
TA on the low timeframe:
1) Price does not reach trend support as a strong liquid area below 1.0635 (limit support level) is formed, which pushes price away
2) A retest of trend resistance is forming. On a bounce off strong support, price could quite possibly break this area.
3) An impulse to 1.08023 could form on a break of resistance, but if the breakout is false price will form a rebound to support
Key resistance📈: 1.0707, channel resistance
Key support📉: 1.0635