Will MATIC move towards $1.6Altcoins with small capitalization (young/new) have already made huge increases in the bull market, and what about altcoins with larger capitalization? The boom doesn't apply to them? I present to you possible growth scenarios with potential key places for continued growth. The first scenario assumes increases after repeating the 1:1 black correction, i.e. wave 2 as wave 4. The condition is that the price will rise above 1.54usdt. The second scenario is a flat ABC correction, where the condition is that the price increases to the red zone without breaking the top of wave 1 and falls to the green zone as wave C, ending the correction, after which I assume increases. Regards.
Fibonacci Retracement
BNB - potentially getting out of the triangleA nice setup is currently being created on BNB. The upside exit from the triangle I marked should give a strong upward impulse. Entering riskier positions at the bottom of the triangle trend line with a fate stop below the last lows (worth the risk) or safely after a retest of exiting the triangle at the top. In both cases we are targeting the same TP of 1.618 measuring the fibo of the last correction:
TP - around $730
The negation of this analysis would be the formation of a lower low on the H4 time frame.
0.4142 Fib Level example on AAPLThe system works. This is so I can link this idea in my longer idea I am posting shortly.
GOLD → The news will determine the medium-term outlookFX:XAUUSD is updating the low and forming a false break of support. Fundamental and technical background is negative. A quick retest of 2328 may lead to a fall, but there is NEWS ahead!
Before the news, gold goes into a local flat 2360 - 2330. The market is gathering potential and liquidity before the news. GDP and Initial Jobless Claims are ahead. This time traders expect an extremely low GDP: 1.6% This is generally negative for the US market, in general this figure is logical based on general market indicators, but traders pay attention to the actual data. It is also worth paying attention to Initial Jobless Claims.
Technically, under the current circumstances, a decline is possible after a retest of resistance. But, if the news is contradictory, the price may break the resistance, consolidate above 0.236 Fibo and head towards 0.618 (25-30% probability).
Resistance levels: 2343, 2347, 2354
Support levels: 2335, 2328, 2306
The gold market is dominated by bears on the background of general economic conditions. Globally, the trend is still bearish and a correction is forming within it. Today is a purely fundamental day and you should not get into the market before the news.
Regards R. Linda!
LINK → The potential is at +100%. Waiting for a breakoutBINANCE:LINKUSDT enters a new range, after updating the local maximum, against the background of the general market correction, the coin is declining. Support retest is possible.
The resistance at 18.320 plays a key role for the coin. A false breakout and correction is forming. A quick retest of the resistance or a pre-breakdown consolidation will hint that the market is ready to go higher. Now we should wait for a flat support retest and watch the price reaction to this area. A false breakout followed by price consolidation above this area will be a signal for buyers.
Resistance levels: 18.320, 0.618 Fibo (D1)
Support levels: 13.328, 16.60
The fundamentals are quite strong. The bulls need to consolidate above the key zone to make important decisions. The coin has a potential of +100%
Regards R. Linda!
GOLD → Break of the support of consolidation. Next is 2300?FX:XAUUSD is still bearish. The price is trying to leave the corrective range, which is formed after the false breakdown of support. The market is preparing to go lower.
On the 1H timeframe it is becoming clear who is showing dominance in the market. There is no strong buy yet, apparently, before the GDP and PCE publication on Thursday and Friday, no one dares to enter the market early. (Presumably, the dollar may get another dose of support, which could weaken gold even more). I think that in the short term the price may retest 2335.
Resistance levels: 2354, 2364
Support levels: 2335, 2328, 2306
Consolidation of the price below the previously broken local uptrend support (dotted line), will be a confirmation of the market's intention to go down. A quick retest of 2335 may lead to a break of support and further fall to 2300
Regards R. Linda!
EURUSD → False resistance breakout. Decline to 1.075?EURUSD is testing range resistance and forming a false breakout with further confirmation of the boundary. The bears are strong and are not letting the price beyond 1.0884 yet.
On Thursday and Friday strong and important news are published. Traders are interested in US GDP and PCE. There is a high probability to see data that could be bullish for the dollar in the current circumstances. As for EURUSD - trading inside the range may continue. Technically, I am waiting for a bounce from the local trend support and a retest of the resistance before a further decline.
Resistance levels: 1.0884, 1.0942
Support levels: 1.0802, 1.0736
False break of resistance is a confirmation that the price is not ready to go up yet. A breakdown of the scenario is possible, if the price breaks through and consolidates above 1.0884, but there are no reasons for that. We expect a breakout of 1.0836 with the purpose of further fall.
Regards R. Linda!
IBIO biotechnology pennystock completes retracement LONGIBIO popped 3x March 26-28 and then retraced into a standard Fib level above which it
has consolidated. The RSI lines are near to the 50 level and volumes are low. I can see where
IBIO could go higher if interest and buying volumes rise. I will watch this for the same. Having
profited heavily on the prior move, I would be happy to re-enter a long trade on IBIO.
BTCUSD - Topping out around 66k?BTC is yet to fully correct, at least on the weekly. In my eyes, these huge candles up are unsustainable without significant greed. Significant greed cannot continue indefinitely without returning to the mean (neutrality), and likely, significant fear.
There are a few factors I believe will influence a correction:
Greed across the traditional and crypto markets. See CNN's sentiment analysis and alternative.me's fear and greed index.
Only 5% of institutional financial managers are planning to hold BTC in 2021 (volatility being cited as the main reason), implying the feverishness of 'mass adoption' is overstated and overhyped.
Bitcoin is back in mainstream media. The more exposure it gets, the more FOMO and greed kick in, the more new investors pile in, the more people ready to buy right at the top and add selling pressure on the way down.
Big green (or red) candles, while difficult to gauge the top, often result in big moves back down. Similarly, an almost vertical acceleration implies a significant deviation from its mean (anecdotally, the further and quicker something deviates away from its mean, the quicker it comes back). Currently, BTC's yearly EMA is almost exactly the previous ATH of $20k.
Simply, a correction is due. It's gone up but hasn't come down much.
So, knowing that a correction is due at some point, we can then try and forecast the top.
While looking for similarities between the last ATH and this current rally, I noticed there was a period of consolidation, followed by a higher low that wicked down (marked on the chart).
Using these points as anchors, the next anchors are the ATH and the last high at $42k. While the intraday levels of these fibs fit nicely, there are 2 extensions that caught my eye on the weekly that fit almost perfectly.
The 1.618 level on the recent fib (grey) and the 3.618 level of the ATH fib (red) both sit around $66.1k and $66.3k respectively. Seeing how well the other levels line up through previous price action gives me confidence these are valid levels. I'll give coordinates at the end of this post so you can see what I mean.
I've also included a 3-factor BB on the chart for confluence. While the weekly close tomorrow will change the upper band, its near-vertical ascent will likely eventually be punctured by price. As denoted by the red circles, a reversal has occurred every time a swing has formed there. Moreover, for an asset to exceed 3 times its weekly standard deviation should ring alarm bells in anyone's ears.
Okay, so we know where the top might be. How can we make a trade based on this? I'll start with where I think it might end up.
If we use $66k as our first anchor and the bottom of the last consolidation at about $3.1k, then the 0.618 level (blue line) lines up perfectly with the most recent fib's 0.618 level on the way up. This falls at $27.5k, or rather, a contraction of 61.8%.
The tricky part is stop loss placement. I'm going to say that a technically invalid level would be past the 3.764 level of the ATH fib at $70k. Anything between $71-72k would likely invalidate this idea.
In summary:
Entry: $65k
Stop: $71-72k
TP: $27.5k, $31k if conservative, $42k if ultra conservative
Let me know what you think and give me a follow for more.
Happy trading!
COORDINATES:
ATH fib = (1) 1830.00, (2) 19666.00
Current fib = (1) 3122.28, (2) 42000.00
TP fib = (1) 66026.19, (2) 3122.28
EURUSD → A false breakout leads to a correction. 1.080?FX:EURUSD is forming a correction after a false breakdown. The movement is formed after updating the local highs. The fundamental background for the currency pair is positive.
The false breakout occurs against the resistance at 1.0885, as well as the rising line limiting the trend. If the fundamental background persists, in this case the correction will not last long and the global bullish movement may start to recover. On H1 it is worth paying attention to the support: 1,080 (liquidity area), which the price may test. This boundary may become the lower zone of the new range, which may confirm the change of trend.
Support levels: 1.080, 1.0766, 1.0736
Resistance levels: 1.0884, 1.0942
Technically, a false breakdown of resistance and corrective downward movement is forming. Today there is no strong news and movements can be calm.
Regards, R. Linda!
NZDUSD → Trend Change. Consolidation before the impulse FX:NZDUSD is entering the consolidation phase after breaking the local trend resistance. On D1 the price enters a new range and on H1 a golden cross is formed.
The dollar is standing still and losing positions since the opening of the session on the background of negative news. This is generally favorable for the currency pair. In this case, a retest of the support of the range forming above the bearish channel is possible with the aim of further growth. The currency pair has a potential and with the breakout of 0.604 the price may start to realize the accumulated potential and strengthen to 0.608 or 0.617.
Resistance levels: 0.604
Support levels: 0.600, 0.5983
Most likely trading inside the range may continue. False breakdown of support and further strengthening to resistance is possible, but further price reaction to resistance will show us the readiness of the market to go in one direction or another.
Regards R. Linda!
GOLD is gaining momentum for sell!!!Based on higher time frame analysis, it is observed that Gold is struggling to move higher. It is now caught in a downward spiral as it closes below the EMA's and is slowly gaining momentum in lower timeframes like M15.
I believe we might experience a significant downward movement in the market.
Trade at your own risk!! this is not a signal service but my analysis on the market
NOTE: High alert new for FOMC so be careful
Stop Loss =2370
Profit Target = 2292
Follow me for more breakdowns!!
Thank you
GOLD, Price vulnerable under the 2365-2358 ResistanceThe Gold fundamentals are negative and as long as price is trading under the 2365-2358 resistance zone. There is still a high probability of a high selling pressure happening. The GOLD fundamentals are still negative with the FED likely to CUT INTEREST rate and the pending inflation data.
Resistance : 2358 - 2365
Support 1 : 2335
Support 2 : 2305
ETC/USDT LongAs we can see, the price is based on the lower border of the uptrend chennel, which may result in an upward move to 33$.
GOLD → Consolidation before distribution. $2,400 or $2,300?FX:XAUUSD after a false breakdown of the support of the range is forming a correction, but within the upward consolidation channel. The fundamental background is still negative.
There is no strong news in the next two days, so the fundamental background remains the same. There is no strong buyer on the market yet and thus, gold may continue its downward movement if it breaks through the support area: the rising line or the approximate area of 2340. A break of the local uptrending support line will move the market into the realization phase, which will be a continuation of the decline. The structure may be broken if the price rises and consolidates above 2354. In this case, the price may head towards 2374.
Resistance levels: 2354, 2358, 2370
Support levels: 2340, 2335, 2325
I expect that with high probability the decline may continue. But in the phase of waiting for strong news (Thursday and Friday), the market may gather liquidity.
Regards R. Linda!
BTCUSD Uptrend is strong: 100k+ is imminentBTCUSD is holding key golden fib resistance during this uptrend since October 2023. 2W Heiken Ashi doji just printed as well, similar pattern as earlier in januar 2024.
We are going much higher, 100k is just the first stop.
EURCAD Buy IdeaOANDA:EURCAD has been forming series of Higher Higher and Higher Lows. Currently, It is trading in golden zone of fibonacci 50% where we also have trendline retest. These confluences suggest we can look for buying opportunities in EURCAD
GOLD → Correction after strong sell-offs. What's next?FX:XAUUSD is trading in the range of 2335-2397. Bulls are trying to keep the price from falling, countering the market in the 2330-2340 area. A rebound may reach local liquidity zones.
At the moment the market is bearish but also volatile. Any news could have a strong impact on the dolar and gold. In the mid-term, since after a false break of support a rebound is forming, which is developing within a possible fourth wave, this movement may reach the local liquidity areas 2354, 2368 before a possible further fall. It is worth paying attention to the nearest resistance areas and any market reaction in the form of weakness may give a corresponding reaction - a decline.
Resistance levels: 2354, 2368, 2374
Support levels: 2335
Today is a holiday in the USA and the market volatility may be low. A correction is forming, the purpose of which is to collect liquidity. The fall may continue from local reversal zones.
Regards R. Linda!
USD/CAD Trend reset - Buy ContinuationMomentum preceeds prices!
The USDCAD has had a trend reset (Secondary Trend), which is key to the Up-trend continuation.
The structural point for trend reversal is 1.3656, we want to see a second breakdown below the structure without breaking below 1.3624. A trade back above 1.3656 will be the first buy, confirmation will be a trade above 1.3671.
In terms of Target, we will use the Fibonacci retracement from the low to the high of 3.
Target 1: 1.3780
Target 2: 1.3838
Initial Stop Loss: 1.3624
BTCUSD, Price in a supply region- Market bears to take controlBTCUSD started an upward trend since 1st May from $56,542 to a last week's high of $71,940.
BTCUSD price is hovering around a supply region and the bears are warming up to take control at the resistance level of $70,000.
My bias is bearish.
Resistance $71,198 - $70,400
Support: $64,595
📈Sunday Market Insights: Navigating the RNDR Coin Waves🌊🔍Let's dive into today's analysis. It's Sunday, and since it's a holiday, the market volume is lower than usual, making market movements less reliable.
📆Coin of the Day: Render Token (RNDR)
Today, we're analyzing Render Token (RNDR). I've previously analyzed this coin on the daily timeframe, and I hope you took advantage of the entry points I provided. The project's idea is to provide rendering services for applications that require high GPU power, catering to those who lack the necessary hardware by charging a fee.
🪄Monetizing the Project
An attractive aspect of this project is that you can earn by renting out your GPU. However, be cautious not to use your primary GPU for this purpose as it can damage your system. If you're interested in participating, I recommend buying a separate GPU dedicated to this task and assembling it on another system.
🔄Market Condition Analysis
Now, let's examine the 4-hour chart. RNDR has created an ascending box and corrected to the 0.382 Fibonacci retracement level. The range of this box is from 11.603 to 9.947. A breakout above this box could signal a continuation of the upward trend, while a breakdown below could push the price down to the 0.5 Fibonacci level, which overlaps with the 9.383 area.
📊Volume Analysis
The market volume is gradually decreasing, indicating that traders and whales are hesitant to trade under the current market conditions. As the volume decreases, we get closer to the next market wave. On average, the selling volume is higher than the buying volume, showing a volume divergence. Although the main market trend is bullish, the higher selling volume suggests caution.
📈Long Position Strategy
For a long position, the primary trigger is 11.603. After breaking this level, the price could target 13.32. Additionally, the 10.315 level could serve as a secondary trigger for a long position, with an optimistic target of 11.603. I recommend taking profits at a risk-reward ratio of 2 or 3, as the market lacks momentum while it remains between 11.603 and 9.947, which doesn't support higher risk-reward ratios.
📉Short Position Strategy
For a short position, the only viable trigger based on my strategy is 9.947. Breaking this level could lead to a new phase of correction.
🚨Important Note
This analysis is intended for futures trading. If you've made a spot purchase based on my previous analysis, stick to your stop-loss and don't sell based on the short triggers provided here. These entry points are for the futures market and short-term trades.
📝In summary, while RNDR presents potential opportunities, it's essential to remain cautious and adapt your strategies based on the market conditions and volume trends. If you enjoyed this analysis and want to support me, please boost this post. Feel free to leave a comment or suggest a specific coin for future analysis.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
🫶If you enjoyed this analysis 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.
Will XRP rebound from the lower border of the channel?Hello everyone, let's take a look at the XRP to USDT chart on a 4-hour time frame. Let's start by defining, using white lines, a sideways trend channel in which the price moves at its lower border.
Let's start by determining the support and as you can see, first of all, as support, we have a support zone from $0.50 to $0.45, when the price drops below this zone, the next support is at $0.37, and then support at the price of 0.32 $.
Looking the other way, we can see a resistance line at $0.58, then at $0.62, the third resistance at the upper border of the channel at $0.69, and then we can see an increase to around $0.84.
When we turn on the EMA Cross 50 and 200 indicator, we can see how the yellow line tries to cross the blue line at the bottom, which would indicate entering an upward trend.
SWING IDEA - ANUPAM RASAYAN INDIAConsider a promising swing trade opportunity in Anupam Rasayan India , a leading specialty chemicals manufacturer.
Reasons are listed below :
Strong Support Zone at 800-850 : Anupam Rasayan India has a strong support zone established at 800-850, indicating significant buying interest and potential reversal points.
Hammer Candle on Weekly Timeframe : The presence of a hammer candlestick pattern on the weekly timeframe suggests potential bullish reversal and buying interest at lower levels.
0.618 Fibonacci Support : Finding support at the 0.618 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement.
Bullish Engulfing Candle on Daily Timeframe : A bullish engulfing candlestick pattern observed on the daily timeframe indicates strong buying momentum and potential upward movement.
Strong Volumes : The significant increase in trading volumes reflects growing market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Anupam Rasayan India.
Target - 970 // 1080 // 1220
StopLoss - weekly close below 782
DISCLAIMER -
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