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Fibonacci Retracement

ETH/USDT 4h interval chart Hello everyone, I invite you to a quick review of the ETH to USDT chart for the 4H period. As we can see, the price is approaching leaving the local triangle, which indicates a possible direction for further movement. When the price starts to reverse, support levels are visible at $3,088, then support levels are visible at $3,048, and support levels are at $2,986, $2,942, and $2,885. However, when the price moves up again, it must overcome the resistance at $3,166 to continue towards the strong resistance at $3,264. Looking at the RSI indicator, we can see that we have entered the upper part of the range, but there is still room for the price to go up.
by cryptodailyuk
STX Daily Analysis: Anticipating a Breakout📅 Let's dive into today's analysis in the crypto market. Today's coin is STX, one of the coins that gave significant returns during Bitcoin's surge from 16k to 73k. We won't analyze Bitcoin today since I will provide a complete analysis of Bitcoin tomorrow. 🔍 Analysis of STX Project Overview STX is a layer-2 solution for Bitcoin, similar to other layer-2 solutions, it increases network speed and reduces transaction fees. Additionally, STX provides infrastructure on the Bitcoin network for building decentralized applications (DAPPs). Many well-known DAPP projects use this platform and protocol for their infrastructure. 🎲 Chart Analysis The analysis is conducted in the daily time frame. As you can see, STX had a powerful upward trend and, after reaching the resistance of 3.686 and concurrently with Bitcoin reaching its peak of 73k, it started to retrace. This retracement has been marked by a curved trendline and a trendline from the price bottom, leading the price down to the 1.316 area. 🧩 Key Support Level The support level at 1.316 is quite strong. It is significant not only from a price action perspective but also because it coincides with the 0.5 Fibonacci level, adding to its importance. 📊 Volume Analysis During the last upward wave from 1.316 to 3.686, the volume of green candles began to decrease, indicating a weakening trend that was visible on the chart. After this, and during the correction phase down to 1.316, the volume continued to decrease, suggesting that traders did not engage in buying within the range of 1.316 to 3.686. This indicates that the resistance at 3.686 is not very strong, and the price is likely to test this area again. 🧲 Trendlines and Breakout Scenarios The trendlines that have brought the price down from 3.686 to 1.316 are nearing their end. The price will soon break either the upper or lower trendline. If the curved trendline is broken and its trigger is activated, the price could rise back to the 3.686 peak with a significant influx of buying volume. Conversely, if the trendline from the price bottom is broken, there are two potential scenarios: If selling volume enters the market and Bitcoin loses its 55k support, we can expect a strong bearish momentum. Breaking the 33.44 support on the RSI can confirm this momentum entering the market. If the trendline is broken but Bitcoin maintains its support and selling volume does not enter the market, we might see the bearish trend exhaust, and the price could move back above the 1.316 support level. 💥 Bitcoin's Influence The reason Bitcoin's support and resistance are crucial for this coin's movement is that STX is a layer-2 solution for Bitcoin. Layer-2 projects generally have a high correlation with their primary projects. Additionally, with Bitcoin's dominance at 54%, Bitcoin naturally influences all altcoins, especially one that serves as a layer-2 solution for Bitcoin. 🛒 Buying Strategy in Spot The safest trigger for buying this coin in the spot market is 3.686, which is the all-time high (ATH) for this coin. If the price stabilizes above this level, it could move towards new targets. However, this trigger is 130% away from the current market price, which is quite a distance. Until the price reaches 3.686, there are other triggers that, upon stabilizing above these levels, the price could move upwards. Naturally, these triggers are riskier than 3.686, and the probability of hitting a stop loss is higher. The first trigger is 1.801, which is the peak of the Low Wave Cycle (LWC). Since the price is in a High Wave Cycle (HWC) uptrend, you can consider entering in the LWC. The next trigger for buying is 2.422, which is the MWC resistance. After breaking and stabilizing above this area, we can move towards the 3.686 peak. 📝 Conclusion STX, a layer-2 solution for Bitcoin, is currently at a critical support level of 1.316, which is significant both in price action and Fibonacci terms. With decreasing volume indicating a potential test of the 3.686 resistance level again, traders should watch for key breakouts and Bitcoin's influence on the market. Considering the triggers and support levels mentioned, strategic entries can be made with proper risk management. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
Long
by itsparham96
1
GOLD → An intermediate bottom of 2350 is forming. What's next?FX:XAUUSD is testing 2350, gathering liquidity below this zone. Bulls are actively holding the defense above the key area and the overall picture looks promising.... BUT! Powell's speech continues today ahead of CPI and PPI. Things are heating up, the slightest hint of an unpredictable outcome could shake the market. For now, there are some positive signs after Powell's words: - Keeping rates high for too long could jeopardize growth in the U.S. economy - A rate hike is unlikely to be the next step - The Fed has made significant progress in bringing inflation down to the 2% target, recent monthly numbers show modest further progress - Fed needs more favorable inflation data to cut rates Overall, traders are not getting enough of this, the market is in consolidation and no one is in a hurry to take premature action yet. We are waiting for today's comments of the Fed chief. Technically, gold is showing bullish dynamics after the bulls did not let the price go beyond 2350. The price is consolidating above the key level of 2365 and testing the area of interest and liquidity of 2375-2380. A breakout and consolidation of the price above this area may further strengthen the price, as the promising target, at the moment, is 2387 - 23400. Resistance levels: 2373, 2380 Support levels: 2365, 2355, 2350 A bounce to the downside before further growth is possible, but price consolidation above the key zones could form an interim bottom for the bulls. All emphasis on Powell's comments..... Rate, share your opinion and questions, let's discuss what's going on with gold ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
8
GOLD → The fight for 2365. Can we get to 2400? FX:XAUUSD is trading within an ascending channel, but traders are actively selling off all of Friday's growth. The key roll is played by the resistance 2365, at the moment bears are holding the market. The dollar stops falling amid expected comments from Powell, as well as CPI and PPI to be released on Thursday and Friday. The fundamental background is neutral at the moment, Against this background gold is getting under correction and testing the liquidity area of 2350. Now all the focus is on 2365, relative to which a false breakout has been formed. IF: sellers will hold 2365 and will not let the price above this level, we should expect a decline to 2350, 2341 and further it is worth watching the situation, because in this case the price can reach 2325. If the buyers continue to be active and can form a consolidation above 2365, it will open a channel, the upper boundary of which will be 2387 and we can go up to it. Resistance levels: 2365, 2387 Support levels: 2358, 2350, 2341 Two scenarios, as the situation is complicated due to the unstable fundamental background and the struggle between the participants in the key zone that divides the plane into bearish and bullish. I would prioritize a small bounce from 2365, resistance retest, breakout and bullish momentum to 2375-2385. Regards R. Linda!
FX:XAUUSDLong
by RLinda
21
Gold sellGold could possibly be a sell setup as in previous days gold has shown us good opertunity of shoring the pair it has given a high voulme marked candle lastly if price Breaks that candles high and sustains over it we will put our buy orders if price shows us some bearish gesture as in current candle anyone can imagine a long entry but it will be too early to decide as market is in decisive phase and as early as we can get a bullish or Bearish signal we will be having a ride over
OANDA:XAUUSDShort
by Wakeel_Saab
USDCAD 1D Analysis: Anticipating a Breakout📅 Let's dive into today's analysis. We'll be focusing on the USDCAD pair in the 1D time frame. ⌛️ Long-term Range Box In the 1D time frame, we observe a large, long-term range box that spans 664 days. This box has experienced a complete High Wave Cycle (HWC) range, which is confirmed by the flat SMA99, indicating minimal slope and nearly flat movement over a long period. ♟ Key Levels Range Box Bottom: 1.31434 Range Box Top: 1.38725 Breaking either of these lines will likely initiate a new trend for the HWC. Medium Wave Cycle (MWC) Support: 1.35973 MWC Resistance: 1.37805 🪤 Momentum Indicators As discussed in yesterday’s analysis, momentum oscillators like RSI are less effective in range-bound markets. In this case, although the RSI broke the 43.14 support, the market did not gain bearish momentum because of the ranging condition. This exemplifies why RSI should not be heavily relied upon in such scenarios. 📉 Bearish Scenario If a candle closes below the 1.35973 area, we can expect the price to move towards the bottom of the range box at 1.31434. This support is crucial and could push the price back to the top of the range. 📈 Bullish Scenario Conversely, if the price breaks above 1.37805, it may move towards the top of the box at 1.38725. However, this move is less likely due to the weakness observed in the green candles, indicating weaker buyer strength. 🔍 Candle Analysis Examining the candles shows that reaching the top of the range box takes significant time, with small green candles. Conversely, reaching the bottom of the box from the top happens quickly with strong red candles. Given the weak green candles in the latest upward move that didn't even reach the top of the box, the likelihood of a downward breakout is higher. 🎯 Target Levels In case of a downward breakout, switching to the weekly time frame helps identify important levels: First Target: 1.30183 (0.5 Fibonacci level) Second Target: 1.27624 Third Target: 1.22926 (a very significant support for this pair) 📝 Conclusion The USDCAD pair is currently trading within a long-term range, showing weak buyer momentum and stronger bearish tendencies. A breakout from this range, particularly to the downside, seems more probable given the current market conditions. Traders should watch key levels closely for confirmation and be ready to act accordingly once a breakout occurs. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a pair you'd like me to analyze next.
Short
by itsparham96
1
Bitcoin - 42k soon! (Fibonacci channel, roadmap)Why am I bearish on BTC? With all the crypto regulations around the world and, recently, banning stable coins in Europe + high transaction fees - crypto is losing its popularity, and people are starting to hate crypto. Which means no one wants to use it, and where there is no use, there is no money. Maybe crypto is not as good a technology as presented by banks. Crypto has been a huge disappointment for all investors in recent years. Ask yourself a question: Are you happy with your crypto holdings or not? Wasn't it better to put your money into NVIDIA? Nvidia made 10x in only a 2-year period. And this is a big stock, not a penny stock. Bitcoin hit an all-time high in March and failed to continue the price discovery. Bitcoin was not strong enough to continue in the bull market, and instead, we saw a liquidity sweep, and it is currently experiencing a 27% crash from its peak. Bitcoin failed to sustain the black ascending channel (that you can see on the chart). What we want to see is a breakout above an ascending channel, then a retest of it, and then a continuation of the bull run. In Bitcoin's case, we did have a retest of the black channel in April, but recently the price went back to the channel, which is a strong sign of weakness. We have completed the Elliott wave impulse wave (12345). Waves 2 and 4 have both around 20% retracement. Bitcoin is definitely heading towards the 42k level. Why is this level so important? We need to take a look at the chart and draw a Fibonacci parallel channel. Always use significant points to draw it, such as the major swing high or peak of a bull market. In our case, we use the most important points: bull market peak (2021), bear market bottom (2022), and bull market peak (2024). We have a very nice-looking Fibonacci channel, and now we need to look for important levels. I always recommend using 0.618, 0.5, and 0.382. We also have 0.764 and 0.236, but these levels in general have a lower success bounce rate. 0.5 is not a Fibonacci number, but it's the middle of the ascending channel, which is logically a very strong dynamic level. The first major support is at 0.382 (around 42k) because we also have a POC (point of control) of the volume profile. Let me know what you think about my analysis in the comment section, 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.
BITSTAMP:BTCUSDLong
by Xanrox
118
USDCHF: Key Level Rejection, Retracement ExpectedPrice recently broke out of the daily (D) descending channel. It then pushed up to meet the daily (D) 50% Fibonacci retracement level, converging with resistance. Price then rejected this level and pushed down to retest support before breaking out of the four-hour (4H) downtrend line. Price then pushed up and reached the daily (D) key level and converged with yet another 50% Fibonacci level. Price seems to be rejecting this level, highlighting temporary reversal and suggesting a possible retracement. I expect price to temporarily retrace to around the 38.2% level before continuing to the upside. **Rationale:** ~ Breakout of Channel (D) ~ Retest of Support (D) ~ Break of Trendline ~ Retest of Support ~ Rejection Candlesticks ~ Break of Nested Trendline ~ 38.2% Fibonacci Retracement **Disclaimer:** My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations. --- #scalping #intraday
Short
by Forexity
GOLD → Correction for the purpose of elimination. Target 2400?FX:XAUUSD is forming a correction from the opening despite the bullish closing of the session on Friday. Fundamental background is calm, technical reaction to the false break of 2387. Friday's move was formed on relatively positive economic news for gold - higher unemployment in the U.S. reinforces the dollar sell-off as the chance of a possible U.S. interest rate cut rose slightly. This week traders' focus is on CPI and PPI, which will be released on Thursday and Friday. Technically, there is a buyer's presence in the market. MM, as consolidation and elimination of the buyer forms a correction to the liquidity zone 2364-2355. Possible consolidation or false breakdown before the subsequent growth. Resistance levels: 2387, 2411 Support levels: 2364, 2355 Today, at 14:00 Powell speaks, it is worth paying attention to his speech. High volatility is possible. In general, the fundamental background is favorable, technically, the bull market is forming a correction to support. Emphasis on the bulls. Regards R. Linda!
FX:XAUUSDLong
by RLinda
26
BNB/USDT Short-TermHello everyone, I invite you to a quick review of the BNB to USDT chart, taking into account the one-hour interval. Taking into account the short time interval, we will first determine possible stop losses: SL1: $501, SL2: $487, SL3: $477, SL4: $464. Looking the other way, we will determine the closest to the targets: T1: $517, T2: $530, T3: $547. The RSI indicator shows a rebound, but there is still more room for a decline than for the current upward movement.
by cryptodailyuk
EUR/USD: Awaiting a Breakout from the Symmetrical Triangle📅 Let's dive into today's analysis. We'll be focusing on the EUR/USD pair in the daily time frame. 🧲 Symmetrical Triangle Formation In the daily time frame for EUR/USD, we can observe a symmetrical triangle pattern. Currently, the price is in the last third of this triangle, indicating that the best course of action is to hold off on trading this pair until one of the dynamic lines is broken. 🎲 Moving Averages The moving averages are not particularly useful for analysis right now. As you can see, the SMA99 has flattened out, indicating a lack of momentum in the market. 🪤 Momentum Oscillators Given the lack of momentum, there's no reason to use momentum oscillators like the RSI. These oscillators are only useful in markets with momentum, so checking the RSI would just provide unnecessary data. 🧩 Breakout Scenarios If the descending trendline is broken and the price stabilizes above this area, we can expect the price to move up to the 1.11056 resistance level. The trigger for this scenario to be activated is at 1.09066. ⚡️ If the 1.09066 trigger is not activated, we need to wait for a new structure to form and draw new triggers on the chart accordingly. If the ascending trendline is broken, the trigger for this scenario is 1.06774. The next support level is very close to the price, at 1.06057, which aligns with the 0.382 Fibonacci level in the weekly time frame, forming a crucial area. 📉 Downside Targets If the price declines, the final target I see is 1.04225, which corresponds to the 0.5 Fibonacci level on the weekly chart. However, there is also a significant support zone between 1.04225 and 1.05007, where substantial demand is likely to enter the market, making it difficult to break through easily. ⌛️ Apex Point of the Triangle The converging lines of the triangle always intersect at a point called the apex. From a timing perspective, this is an interesting point. Although it's not always exact, we can expect a potential structural change around November 29. This change could be a continuation of the trend, a reversal, or the end of the current trend. Typically, something significant happens around this time. 🎈 Range-Bound Market Scenario If the price ignores the trendlines and starts ranging, the triggers at 1.09066 and 1.06774 can still be relevant. However, a ranging market will likely create a new structure and provide new triggers accordingly. 📝 Conclusion The EUR/USD pair is currently trading within a symmetrical triangle, indicating indecision and low momentum in the market. The moving averages and momentum oscillators provide little insight due to the flat market. Traders should wait for a breakout from this triangle to confirm the next direction of price movement. Whether the breakout is to the upside or downside, it will set the stage for subsequent trading opportunities. Patience is key until clear signals emerge from this consolidation pattern. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
by itsparham96
1
GOLD → Pre-breakdown structure, but NFP is ahead. ↑ or ↓ ?FX:XAUUSD is updating the high within consolidation after rallying. Technically, this is a good sign, but NFP and unemployment are ahead. The news could either reinforce the move or completely derail it.... A nice bullish pattern is forming on D1 against resistance at 2365. The deceleration and consolidation in front of the level indicates bullish interest in further growth. But today it is worth paying attention to the fundamental background. From this point of view, the outlook for gold depends on the upcoming news and the reaction of the Fed. Based on previous data, traders expect Friday's employment report to show only 189K new jobs compared to 270K in the previous month, and the unemployment rate to remain unchanged. But the actual data plays a bigger role. Rising unemployment and slowing economic growth may support the gold, as the dollar may continue its localized decline on this background. But, unpredictable data can increase the volatility and affect the market structure in a very opposite way. Resistance levels: 2364. 2387 Support levels: 2355, 2350, 2341 Technically, on D1-H4 gold shows bullish prerequisites, but the economic component plays a big role, which can both support the current movement and reverse it up to liquidation and decline to 2340-2320. Regards R. Linda!
FX:XAUUSDLong
by RLinda
21
Today's Analysis: Bitcoin and BNB📅Today, the market, after experiencing a dip, is in a ranging phase. We can expect the next wave of decline to begin after this correction and rest period. The coin I want to analyze today is BNB, but as always, let's start with Bitcoin. 👑 Bitcoin Analysis 🔍 1-Hour Time Frame Analysis In the 1-hour time frame, Bitcoin has corrected to 58516 and then started to decline. In recent candles, significant selling volume has entered the market. The price has also pulled back to the SMA99 and is now consolidating below the 0.382 Fibonacci level. RSI has triggered at 44.10. The next trigger is 56045, and if a candle closes below this level, we can target 53921 again. 📈 Long Position For a long position, the market structure still doesn't seem favorable. However, if you insist on opening a long position, 58516 can be a suitable trigger. As mentioned, I won't open a long position until a suitable structure forms. 📉 Short Position The next trigger for a short position is 56045. I will wait for the price to react to this level once, and on the next attempt, if it breaks, I'll open a position. The trigger at 57033 has slightly shifted, and now we can open a position if 56693 is broken, though the target for this position is smaller than the target for the 56045 trigger. 📊 Volume Analysis If the market declines, the volume of red candles should increase. If not, I will open the position with lower volume and risk since volume and momentum are crucial when opening a position. 🔍 BNB Analysis 🗂 Binance Overview Binance is one of the top crypto exchanges, handling the majority of crypto trading volume and being the most reputable exchange for traders. In addition to its trading platform, Binance also has its own blockchain with BNB as the main coin. All activities on this blockchain are conducted using BNB, which has secured the 4th position in market cap after Bitcoin, Ethereum, and Tether. 🧩 Daily Time Frame Technical Analysis In the daily time frame, as seen, after forming an ascending triangle and breaking resistance at 619, BNB couldn't hold above this level, resulting in a fake breakout and a return to the box. The trigger for confirming the fake breakout was at 591. Currently, the price has reached the support level at 499, which aligns with the 0.382 Fibonacci level. If this level is broken, the next targets are 450$ and 390$. 📊 Volume Analysis for BNB The volume of red candles is currently much higher than green ones, indicating strong downward momentum. However, due to the selloff candle two days ago, the market might rest for a few days before deciding whether to continue the HWC uptrend or start a correction. 🛒 Spot Buying Strategy For buying BNB in spot, I don't recommend it while the market has downward momentum, unless a daily or weekly candle closes above 619. In my opinion, waiting for the market to form a new structure can provide better entry points. 📝 Conclusion Both Bitcoin and BNB are at critical points. Bitcoin continues to show signs of a downtrend, and BNB is trying to stabilize at significant support levels amid strong selling pressure. Wait for the necessary confirmations before entering positions and closely monitor volume and momentum. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
by itsparham96
2
Is LTC approaching a trend reversal?I invite you to check the situation of LTC in pair with USDT on a one-weekend basis. We see on the chart that the price is at the intersection of two lines, an upward trend line and a downward trend line. These are the two main trend lines that have currently formed a triangle from which the price will choose the direction of movement. Locally, we can see a sideways trend channel with smaller and smaller lows. The RSI indicator shows that we have approached the place where we could previously observe price rebounds, the STOCH indicator looks similar, but here we can see a movement at the lower limit, which may translate into an upward movement. Moreover, the chart shows how the price remains in a strong support zone, which may also influence the upcoming rebound towards the designated resistances.
Long
by cryptodailyuk
ETh/USDT 1DInterval Chart ReviewHello everyone, I invite you to review the chart of ETH versus USDT, taking into account the one-day time frame. As you can see, the price has risen from the first channel of the downward trend, marked with blue lines, but currently we are staying just at the lower border of the lateral trend channel, marked with purple lines. Currently, the price has bounced off the strong support zone which starts around $2,954 and ends at $2,681. A breakout from this zone could result in a price drop to around $2,000. Looking the other way, you can see how the price remains ahead of a strong resistance zone from $3,083 to $3,253, going further you can determine the second zone from $3,531 to $3,732. If the price breaks higher from these two zones, there is still strong resistance at $3,977. On the RSI indicator, we can see that we are bouncing just before the lower limit, which may potentially result in further upward movement, but it is worth monitoring the behavior of BTC to see if the current panic will deepen market corrections again.
by cryptodailyuk
EURUSD → The bulls are coming back. Trend change. Target 1.1FX:EURUSD is breaking the downtrend pattern on a smooth change of fundamental background. Traders are selling off the dollar, which is favorable for the euro. A local bullish pattern is forming on D1 on the background of the global downtrend. Strong fundamental background is favorable for the strengthening of the currency pair. On H4, the price is correcting after updating the local maximum and consolidates above the level formed by the gap. Bulls are trying to keep the defense above this area. The key focus is on the breakout of the 1.0816 zone. This will open the way to the zones of interest: liquidity and imbalance. Today is a day off in the US, the fundamentals are still in place, trading may be calm. Resistance levels: 1.0816, 1.0852, 1.0916 Support levels: 1.078, 1.073 I expect the trend to continue, as traders are showing interest in the market. Local ATH may become a potential target for MM Regards R. Linda!
Long
by RLinda
5
NZDUSD → Traders believe in the best outcome. NFP aheadFX:NZDUSD strengthens after a false breakdown. The change of the fundamental background leads to a change in the character of the market. Traders are looking at a breakout of 0.614 and growth in the future, but ahead of NFP... On D1 the price is not going to leave the sideways range yet, as we are told by the false breakdown and return to the channel with the subsequent formation of the impulse. Technically, on H4 a pre-breakdown consolidation is forming and the price is gradually pushing up to resistance, which may lead to a breakout and further growth. Fundamentally, based on previous data, traders expect Friday's employment report to show only 189K new jobs compared to 270,000 in the previous month, and unemployment to remain flat. But it's worth paying attention to the actual data. As a mild reminder of slowing economic growth could weigh heavily on the Fed. Resistance levels: 0.614 Support levels: 0.61, 0.608 Technically traders believe in the continuation of the growth. A break of resistance may trigger a rally. But unpredictable news may change the market mood and in this case active selling may start. Regards R. Linda!
Long
by RLinda
3
TON → Is the coin still bullish? When is $10.00?OKX:TONUSDT still continues to accumulate potential with the purpose of breaking through resistance 7.671 and continuing growth. Bulls are actively defending the zones of interest and continue to hold the positive market structure. Demonstration of a bullish structure. Continuation of upward movement on W1 Earlier, on the background of the general market correction the price formed a false breakout, which did not lead to a break of the bullish structure or to a strong fall. From the area of interest (without capturing liquidity) buyers are actively buying the asset and again trying to return to the resistance retest, which will only increase the chance of a breakout. Fundamentally and technically, TON looks very positive at the moment. But this does not mean that sellers are unable to change the nature of the price movement. Conditions under which the upward movement and positive structure will be broken Resistance levels: 7.671, 8.288 Support levels: 6.727, 6.202 Technically, there is a high probability of a continuation of the upward trend, but there is also a probability of a support break, which will break the uptrend and change the market imbalance. At this point, while the price is consolidating and continues to shrink to resistance, we should consider a bullish set-up. Regards R. Linda!
Long
by RLinda
5
Today's Analysis: Ethereum & Bitcoin at Critical Levels📅Today, we're diving into the analysis of Ethereum (ETH) in both weekly and daily timeframes, alongside our usual analysis of Bitcoin (BTC). Let's kick things off with a detailed look at Bitcoin in the 1-hour timeframe. 👑 Bitcoin Analysis 🔍 1-Hour Timeframe Technical Analysis After a prolonged bearish wave, Bitcoin hit support at 53921 and entered a correction phase. Currently, it is breaking through the 0.382 Fibonacci level, which significantly supports the bearish trend as the volume of green candles is much lower than the red ones from the previous days. This indicates volume and trend convergence, confirming the trend's health. The next correction levels are 58516 and 59550. Upon reaching and confirming these levels, short positions can be considered. 📈 Long Position Strategy For long positions, I will hold off until the price stabilizes above the 99-day Simple Moving Average (SMA99). Once the price secures this level, I will announce the entry point for a long position. 📉 Short Position Strategy For short positions, you can utilize the levels of 58516 and 59550 during market corrections. If the market declines or you miss these two levels, you can open positions upon breaking 56045 or 53921. The levels mentioned for corrections are reactive, and since we adopt a breakout strategy, we must wait for the price to range at these levels. With a break below the range's floor and increasing sell volume, you can enter the position. The RSI trigger for confirming momentum entry is 44.10. 💰 Ethereum Analysis 🗂 Project Overview Ethereum is a blockchain-based project and one of the best in the crypto space, particularly for those interested in DeFi. Besides its native coin and blockchain, Ethereum also supports Layer 2 (L2) blockchains like Arbitrum, zkSync, Optimism (OP), Base, Linea, and Mode, which help manage transactions to reduce the load on the main blockchain, optimizing transaction fees and speeds. Ethereum's transaction fees have significantly decreased following the Shanghai and Dencun updates, dropping from 60-70 Gwei to 2-9 Gwei, attracting more users to the blockchain. Various earning methods exist on the Ethereum network. The primary method is staking 32 ETH to become an Ethereum node, which ensures network security and earns fees from network transactions and block creation. Other methods include creating Liquidity Pool Tokens (LP tokens) on DEXs and earning fees from trades and swaps or engaging in lending and borrowing, which is a vast field in itself. 🔍 Weekly Timeframe Technical Analysis In the weekly timeframe, Ethereum began an upward move from the 1550$ area, continuing up to 4100$, then faced resistance at 3876$ and started to correct. It has now formed a double top pattern, which hasn't activated yet. Remember, a pattern holds no significance until it activates. So, we disregard this pattern unless the price stabilizes below 2914. If that happens, we can say the pattern is activated, and the price could move downward. The critical point now is that the curved trendline is broken, the strong bullish momentum in the market has faded, and the price has been stabilizing below the 25-day SMA. Additionally, the 51.51 support in RSI is broken, potentially pushing the price down. 📈 Bullish Scenarios We have a few scenarios for bullish movements. First, the price doesn't stabilize below 2914, gets supported, and starts creating higher highs. Second, a further correction to the 24709 support, a significant support level for Ethereum, might prevent further price drops. Third, reaching the double top target of 2188, which is the last stronghold for Ethereum's bullish trend. 🛒 Spot Trading Strategy For spot trading, it’s better to move to the daily timeframe for clearer charts. In this timeframe, a bearish momentum has caused the price to drop from 3919 to 2883, and it’s currently resting. If the price ranges adequately and forms a suitable structure for buying, you can enter upon breaking its range box. If it doesn't range and moves directly upward, our trigger is breaking the main resistance at 3919 unless we buy according to Dow Theory rules. Upon breaking 2883, the first support is 2620, and the second is 2188. 📊 Volume Analysis The significant volume of red candles suggests a probable break of 2883, but since yesterday’s candle was a selloff, and today and tomorrow are holidays, the price might range for a few days before selling volume re-enters the market. 🔔 Entry Points Regarding the entry points mentioned, don't place orders in advance. Wait for the price to react to these levels and form a range structure. After buy volume enters and breaks the range box, you can proceed with your purchase. 📝 Conclusion In conclusion, both Bitcoin and Ethereum are at critical levels, with Bitcoin showing bearish tendencies and Ethereum facing significant support challenges. It's crucial to wait for confirmation signals and volume trends before entering any positions. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
9
EURUSD - Secret pattern no one talks about! (big crash coming)In my previous EURUSD post, I analyzed the historical chart (1971 - 2024). You know that EURO is heading for a big crash. If you haven't seen this very important post, please check out the related section down below. You have to see it if you are a real EURUSD trader.  Today, let's take a look at the actual 2023/2024 price action to see what is going on here. We have a secret head and shoulders pattern, that no one knows about. In general, the head and shoulders pattern is a reversal pattern and usually occurs at the top of the trend. These patterns are pretty much never perfect, so it's not always easy to spot them. This one is really hard to see, but I made it easy for you. We have 2 shoulders, and each shoulder is composed of a parallel channel. Neckline / HEAD is in the middle. This is of course an important level and strong support/resistance. Right now, it's a support, but once we break it, it turns into a resistance. Of course, I expect a breakdown on this bearish pattern, so make sure you are prepared for what is coming! Is it good to short EURO now? Yes. Where to take profit? It depends on how long you want to wait. I have market 3 strong levels on the way down. The first is the neckline of the HaS pattern. The second is the POC (Point of Control) of the previous market structure. The third is the previous major swing low. From the Elliott Wave perspective, I see a bearish Elliott Nest, that is composed of waves (1-2-1-2). This is an extremely strong fractal because once wave 3 starts, a steep downtrend begins. Usually, wave 3 is the strongest of all waves. Let me know what you think about my analysis in the comment section, 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
47
Bitcoin - 54% crash, bull market over!Is the bullish cycle really over? Definitely yes, and in this analysis, I will tell you why! The crypto market is dying in front of our eyes, if you are a hodler of many coins, you can see it very clearly on your account balance. Bitcoin failed to sustain the key level of 62k (0.618 FIB), which is an extremely strong sign of weakness. If you take a look at my Elliott Wave count, you see that the major impulse wave (12345) is complete. This is an impulse wave from the start of the bull market (15476) to the end of the bull market (73777). Take a look at wave (2) and wave (4), they both have a 21.35% pullback, so this Elliott Wave count perfectly matches. The next reason is the rectangular range at the top of the uptrend. The range is clearly breaking down, which is another sign of weakness. What's more, we have an upward-sloping trendline that is breaking down as well. Currently, there is nothing bullish on this chart. Statistically, what is a classic correction for Bitcoin during major bear markets? 90%, 84%, or 77%. On the chart, I highlighted the 0.618 Fibonacci retracement for a 54% correction. But will this Fibonacci level really hold? Maybe temporary, but at the end, the price will go below it sooner or later. What we can also consider is the 20 weekly moving average. Bitcoin is currently below it, and we didn't even see any reaction whatsoever.  What to do now? Should you sell your Bitcoin? My arguments are really strong, and I don't even want to know what is going to happen with altcoins. Will altcoins become dust? I am bearish. Let me know what you think about my analysis in the comment section, 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
291