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GOLD Key Levels! Analysis! Hello,Traders! GOLD seems unstoppable As it is breaking key levels On it's way up however, We are still guided by the Technical analysis in our Decision making so as Gold Is retesting a resistance we Might see some crrection However, if the current Momentum is kept, We will see a bullish breakout And the next target will be a Powerful resistance at 2060$ Analysis! Like, comment and subscribe to boost your trading! See other ideas below too!
OANDA:XAUUSDShort
by TopTradingSignals
4
ETH May Reach $1826 after a Pullback to ConsolidatePrimary Chart: ETHUSD on a 2D Time Frame The Primary Chart shows ETH's major down trendlines over the past 14 months. The first down trendline (magenta) remains effective and has contained price since the all-time high in November 2021. The second down trendline (gold) has been broken. The anchored VWAP from the all-time high (teal) is currently at $2230. Fibonacci levels are also shown on the primary chart, as well as major support and resistance levels from the past few months. This is a short-term bullish idea. It's odd having a bullish idea in the crypto space—but this idea is very short-term. Despite recent progress, much more structural change is needed before bulls can call victory with a new primary degree uptrend. Bear markets commonly see multi-week and multi-month corrective rallies. SquishTrade is *not* calling a new bull market / long-term uptrend in ETH. To the contrary, this is just a corrective rally until the weight of the evidence proves otherwise. Down trendlines can break and be readjusted without a new uptrend being established, and inversely, up trendlines can break and be readjusted without a new downtrend being created. In any event, long-term buy and "hodlers" should be careful here and use stops consistent with prudent / professional trading principles. If the time horizon is extremely long (forever) because you believe no other technology could ever possibly render ETH obsolete, then maybe you have inside information that does not require any caution whatsoever. The key technical points are summarized below: The logarithmic down trendline remains intact currently. BTC's equivalent down trendline (on a log chart from all-time highs) has been broken, and it remains to see if that break will hold. It might hold for some time as the shape and structure of the downtrend is reestablished. The best the bulls can achieve, however, is a sideways to neutral trend for some time. Major bear markets do not typically reverse in a V-shaped fashion. Price is currently contending with a key Fibonacci level, the .618 retracement of the mid-August 2022 to November 2022 decline. This level lies at $1664.82. Price could push a little higher from here if it wants to extend a bit more. The move in BTC and ETH has been nothing short of explosive, typical in bear markets, likely fueled by shorts covering and a lot of upside hedging and FOMO. But in all likelihood, a consolidation / pullback is in the cards soon. See the RSI divergence (bearish) on Supplementary Chart A that has now arisen on daily charts. Divergences also appear in momentum on the 8-hour and 4-hour charts using RSI and other indicators, including the Bollinger Bands. Supplementary Chart A Because the November 3, 2022, high was broken, this sets up a shorter-term bullish structure potentially. The key word here is shorter-term. Again, this is not a call for a new bull market. But traders can try to capture upside moves with tight stops at logical supports. Right now, price is extended. Don't recommend chasing unless you really know what you're doing! If the down trendline (magenta) is broken, the measured move target is the more aggressive target for this move. That target lies at $2473. This target is not worth discussing, and not viable, unless and until the down TL from the all-time high is convincingly broken. Thank you for reading this post. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
BITSTAMP:ETHUSDLong
by SquishTrade
11
BITCOIN Key Levels! Analysis! Hello,Traders! BITCOIN is going up from the Lows and has broken a key Horizontal level which is now A support at around 18500$ And keeps going up to retest The resistance level 1 At 25000$ and If this level Gets broken then the next Resistance level will be At around 29500$ Please, keep in mind that These levels are wide and Are more like areas rather Than lines so adjust your Analysis accordingly Like, comment and subscribe to boost your trading! See other ideas below too!
BITSTAMP:BTCUSDLong
by TopTradingSignals
9
BTCUSDT is testing the key level!Bitcoin reached The supply zone as I mentioned in my previous idea. Clear breakout with volume from the Channel and it creates a new HH and HL. 17400$ is the key level, you can see on the left the consolidation before the bearish impulse where the market creates the new low. The market printed an Engulfing on the 4h timeframe after a shooting star candle. These candles are reverse candles, for that reason, we could see a reverse movement. Of course, two candles are not enough to open a new short position, we are waiting for a breakout of the 17k local demand zone in order to apply our strategies. the scenario is going to invalidate if the market prints a daily candle above 17610 structures
by InkyGrip
6
EUR-USD Local Support And Resistance Analysis! Hello,Traders! EUR-USD is trading in an uptrend So our basic underlying bias is bullish However, looking at the 1D TF we can see That the horizontal resistance that we are seeing On the chart above is a weekly resistance level Which means that the soon breakout is Somewhat unlikely therefore We will be expecting a bearish correction In the mid-term so these are the closest Horizontal support levels to look at: Horizontal Support 1= 1.06(weak) Horizontal Support 2= 1.045 Horizontal Support 3= 1.025 Like, comment and subscribe to boost your trading! See other ideas below too!
Short
by TopTradingSignals
6