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Parallel Channel

Bitcoin Dominance Pumping , Is the Altcoin Market in Trouble ?Bitcoin dominance has broken a significant resistance level, signaling a shift in market dynamics. The previous double top formation has completely failed, and dominance is now sustaining above the prior highs. This development has bearish implications for altcoins, as Bitcoin's growing market share typically leads to capital outflows from the altcoin sector. Key Points on the Chart Double Top Failure & Breakout Confirmation The market was previously forming a double top pattern, a classic reversal setup that often signals a potential decline. However, BTC dominance not only broke the double top resistance but has held above it for multiple days, confirming bullish continuation. A failed double top often results in a strong move upward, as short-sellers covering their positions add to the momentum. Ascending Channel Structure The chart shows BTC dominance moving within a rising wedge/ascending channel formation. The breakout above the mid-channel resistance suggests an acceleration in trend strength, increasing the likelihood of BTC dominance rising further. As long as dominance stays within this structure, Bitcoin will likely outperform the altcoin market. Key Support & Resistance Levels 56.44% level was a major resistance in the past and is now a confirmed support zone. 61.91% (current level) marks the breakout region, now acting as new support. If dominance continues its uptrend, the next potential resistance area could be 66%–68%, marking the upper boundary of the trend. Impact on Altcoins Altcoin Weakness Likely to Continue Historically, when BTC dominance increases, altcoins tend to bleed as capital rotates toward Bitcoin. Many altcoins may struggle to gain momentum unless BTC dominance reverses from this region. Conditions for Altcoin Recovery For altcoins to regain strength, BTC dominance must decline from this breakout zone. A rejection from the upper trendline (~64%–66%) could create a temporary relief rally in altcoins. Altcoin Seasonal Trends Typically, altcoins start recovering once BTC dominance peaks and shows weakness. Until then, Bitcoin remains the safer bet, while altcoins carry higher risk. Trading Considerations & Strategy For BTC holders: The breakout suggests strong dominance continuation, meaning Bitcoin may remain the best-performing asset in the short term. For altcoin traders: Monitor Bitcoin dominance closely a drop back below 60% would be the first sign of relief for altcoins. For market timing: If BTC dominance approaches 64%–66%, a potential rejection could provide entry points for altcoins. Bitcoin dominance has broken a crucial structure, signaling altcoin weakness and Bitcoin strength. Until BTC dominance reverses or consolidates, altcoins may struggle to gain momentum. Watch the 64%–66% zone for signs of exhaustion if BTC dominance starts rejecting from there, it could mark the beginning of an altcoin resurgence.
CRYPTOCAP:BTC.D
by wolfchemist
OMUSDT → Consolidation in a triangle before the rallyBINANCE:OMUSDT is a paranormal coin in this case, as it is one of the few projects that shows bullish dynamics while all altcoins are finding bottom after bottom. Perhaps the situation partly depends on BINANCE:BTCUSD . If it starts to fall even deeper, nothing and no one will help here. But locally bitcoin is forming a resistance breakout and if the bulls hold this trend, the BINANCE:OMUSDT.P coin may have a bullish driver that can support the bullish movement. At the moment, the focus is on the triangle (wedge) resistance and the base of the 5.6756 pattern. Two bullish scenarios should be considered: Growth after a resistance breakout or growth after a false breakdown of support. Resistance levels: 5.9821, 6.30 Support levels: 5.75, 5.6756 At the moment, a consolidation within the triangle boundaries is being formed. But when the resistance is broken, the market may move to the realization phase and the impulse may be quite sharp. Ahead, beyond 6.3, there is no resistance... Regards R. Linda!
Long
by RLinda
16
OM: the most resilient crypto asset todayI'm setting up a buy trigger for OM. Among the crypto assets I track, this one has shown remarkable resilience. During today's market drop, most assets pulled back to the 200-period moving average, with even major market cap leaders like ETH and BNB breaking well below this key support level intraday. In contrast, OM remained strong, with its deepest decline barely dipping below the 20-period moving average. Today's sharp market recovery indicates strong buying interest at lower prices, which is an undeniably bullish signal. However, given the market's recent streak of failed breakout attempts, I plan to approach this setup with caution. I'm taking a modest position in OM if the trigger is activated. Due to the relatively wide stop-loss (-32%), I will allocate only 3% of my portfolio, limiting potential downside risk to -1%. On the upside, if the trade performs well, the projected return is 160%, translating to a +4,8% portfolio gain.
Long
by thessia_
DE30 Strengthens Within Ascending Channel, next at 652.00?DJ:DE30 remains within a well-defined ascending channel, with price recently rebounding from a key support level. This suggests a continuation of the uptrend, with the next target near 652.00, aligning with the upper boundary of the channel. A short-term pullback could present a buying opportunity, particularly if bullish candlestick patterns like an engulfing or hammer formation emerge, confirming buyer strength. A decisive move above recent highs could reinforce momentum toward the expected target. But if we get a break below the channel’s lower boundary, it would invalidate the bullish outlook and signal a potential shift in market direction.
DJ:DE30Long
by TrendDiva
Gold can reach resistance line again and then start to declineHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see that the price started to drop from the resistance line and quickly declined to the 2625 support level, aligning with the buyer zone before briefly dipping below it. After that, the price reversed and began to climb within an upward channel, eventually reaching 2625 again and breaking through both this level and the resistance line. However, Gold soon pulled back and consolidated within the buyer zone for a while. It then slightly corrected below this area before resuming its upward movement, ultimately breaking through the 2625 level. After a retest of the support level, Gold trended higher along the channel’s support line for an extended period before bouncing up to 2785, which aligned with a support area, followed by a minor pullback. Gold then dropped to the channel’s support line before making a strong impulse move toward the resistance line, breaking the 2785 level and successfully retesting it. Recently, the price has undergone a correction but continues to push higher. Based on this structure, I anticipate that Gold will rise toward the resistance line once again before reversing and heading down toward the channel’s support line. Given this scenario, my target is set at 2815, which aligns with the channel’s support. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
3
GOLD - Price can break support level and continue to fall nextHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price rose to resistance line, after which turned around and started to decline to support level. In a short time, it fell below $2615 level and then started to trades between this level, after which started to grow in channel. Soon, price broke $2615 level and continued to move up near support line of channel and later rose to $2725 level. Then Gold broke this level, made retest, and rose to resistance line, but then it made a correction movement. Next, price continued to move up and later rose back to resistance line of channel and then reached $2835 level. Recently it exited from a channel, therefore I think that Gold can break support level and continue to fall to $2770 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
5
WORM. Highest degen play or next big thing?Highest degen play or next big thing? The first eternal digital organism started their journey and formed several parallel descending channels in which, at first glance, finds new lows. However, there is an opportunity here if you look through the lens of tech. " DeepWorm is an autonomous digital organism designed to operate perpetually on the blockchain. It replicates the neural architecture of the Caenorhabditis elegans worm, utilizing 302 neurons to make self-informed decisions. By integrating biological neural networks with blockchain technology, DeepWorm aims to create a living digital entity capable of continuous, autonomous function. "
W
by Tropnik
GOLD → Price enters buying zone ahead of NonFarmsFX:XAUUSD resumes gains Friday after brief pause, retesting liquidity accumulation support, but traders cautious ahead of US NFP release NFP decline may support gold - if the actual NFP comes in below forecast (169K), it will reinforce expectations of an imminent Fed rate cut. Weaker labor market → pressure on the dollar → gold rises. Fed and policy: At 15:00, the Fed's monetary policy report will be released, which could clarify the regulator's future course. If signaling easing → gold up. If there will be hawkish notes → pressure on XAUUSD, but we should also take into account Trump's policy on economic risks Conclusion on XAUUSD: In the medium term there is every chance to reach $3,000, locally it all depends on the news: weak NFP and lack of wage growth could send gold above $2,900. If the data turns out to be strong → a downward correction is possible Resistance levels: 2870, 2882 Support levels: 2858, 2848 Technically, the focus is on the 2870 resistance. If the price can break this resistance and consolidate above, this maneuver will open the way to further upside. I do not rule out a retest of the channel boundary or 2858 before further upside. Regards R. Linda!
FX:XAUUSDLong
by RLinda
4
XRP Is Warming Up Will This Breakout Ignite a Rally ?XRP is currently trading at 2.30, moving within a descending channel formation. This pattern is typically bullish, suggesting that a breakout may occur soon. The price has been respecting the channel boundaries, making lower highs and lower lows, but momentum is showing signs of potential reversal. A critical support level lies at 2.25, where buyers may step in to prevent further downside. If this level holds and the price forms a bullish candlestick pattern, such as an engulfing candle or strong green close, it could indicate the start of an upward move. On the upside, the key breakout level is at 2.42, where a decisive 1H candle close above this level would confirm bullish momentum. Using Fibonacci retracement from the recent high of 2.70 to the swing low of 2.25, important levels align with structural resistance. The 0.382 retracement around 2.40 to 2.42 coincides with the upper boundary of the descending channel, making it the first confirmation zone. The 0.5 level at 2.48 is a mid-range resistance, while the 0.618 level at 2.55 to 2.57 serves as a strong bullish target if the breakout occurs. Additionally, the 1H 50 EMA is positioned near 2.35 to 2.38, acting as dynamic resistance that, once reclaimed, would further validate the bullish move. Momentum indicators suggest that the market is at a crucial juncture. The RSI is currently below 50, indicating weak momentum, but if it moves above 55 to 60, it would confirm a shift in trend strength. Volume has been decreasing, which often precedes a breakout, meaning a sudden surge in volume above 2.40 would validate buyer interest and increase the probability of a sustained upward move. For a trade setup, the ideal long entry would be upon confirmation of a bullish candlestick pattern, especially if accompanied by a breakout above 2.42. The first target would be 2.48, aligning with the Fibonacci 0.5 level, followed by 2.55 to 2.60, where further confirmation of bullish momentum is expected. A stop-loss should be placed below 2.25 to mitigate the risk of fakeouts and potential downside continuation. If the price successfully breaks above 2.42 and sustains momentum, it could lead to a rally toward 2.60 and beyond. However, if support at 2.25 fails, the price could retrace further toward 2.20 to 2.15 before finding stability. It is crucial to wait for a proper breakout confirmation before entering a trade to avoid unnecessary risks.
Long
by wolfchemist
GOLD → Correction for accumulation of potentialFX:XAUUSD is growing during the week. The asset enjoys interest on the background of economic risks and dollar correction. After a small correction, the train may move north again Markets are watching the US-China trade talks, easing fears of a global trade war, as well as Trump's initiatives on the Middle East, weakening demand for the USD as a safe-haven asset. In addition, a rising yen is pressuring the USD, supporting gold. Investors' focus is on Friday's NFP data, which could influence the Fed's next steps. Attention is also paid to weekly jobless claims and Fed comments. The market is quite aggressive on any drastic action by Trump as this assessment is correlated relative to global risks Technically, the price is correcting to accumulate liquidity and potential for possible upside. Below are quite strong support areas that could push the price back. Support levels: 2845-2850, 2830 Resistance levels: 2860, 2872, 2882 As part of the correction in the uptrend, the price may test 0.5-0.7 Fibo as well as the previously broken resistance of the ascending channel. There are no technical and fundamental reasons to break the trend, the growth may continue after a false breakdown. Regards R. Linda!
FX:XAUUSDLong
by RLinda
23
SOL/USDT Bullish Breakout Loading ? Key Levels & Confluence SOL/USDT Technical Analysis Price Action & Key Levels Price is consolidating inside a descending channel, typically a bullish pattern if broken to the upside. Key breakout level $195–$196 aligned with Fib 0.382 and trendline resistance. Critical support: $186 lower channel boundary. First bullish confirmation A close above $198 (1H 50 EMA + Fib 0.5). Target levels First target: $202–$203 (Fib 0.618). Second target: $210+ (previous high). Stop-loss placement : Below $186 to avoid fakeouts. RSI Analysis If RSI is currently below 50, it suggests weak momentum, meaning price could still consolidate before a breakout. If RSI crosses above 55–60, it confirms bullish momentum supporting a breakout. A hidden bullish divergence (higher low in RSI while price makes a lower low) would strengthen the case for upside movement. Volume Analysis Breakout needs strong volume confirmation. If price moves above $195 with low volume, it could be a fakeout. If volume spikes on a breakout, it signals institutional participation, increasing the likelihood of a sustained move. Decreasing volume inside the channel is a good sign this indicates sellers are getting exhausted before an upward breakout.
by wolfchemist
EURJPY Wave Analysis – 6 February 2025 - EURJPY broke support zone - Likely to fall to support level 156.00 EURJPY currency pair today broke support zone between the support level 158.00 (which reversed the price at the start of this month) and the support trendline of the daily down channel from December. The breakout of this support zone strengthened the bearish pressure on this currency pair, which accelerated the active impulse wave iii. EURJPY currency pair can be expected to fall to the next support level 156.00 (which has been reversing the price from August).
Short
by FxProGlobal
GOLD: Correction for potential accumulation.is growing during the week. The asset is performing well in the face of economic uncertainty and a dollar drop. After a minor modification, the train might go north again. Markets are keeping an eye on US-China trade talks, which are alleviating fears of a global trade war, as well as Trump's Middle East efforts, which are reducing demand for the US dollar as a safe-haven asset. Furthermore, a rising yen puts pressure on the US dollar, which supports gold. Investors are focused on Friday's NFP report, which may influence the Fed's future measures. Weekly jobless claims and Federal Reserve statements are also monitored. The market is quite aggressive on any radical action by Trump because this evaluation is tied to global concerns. Technically, the price is correcting to gather liquidity and potential for future gains. Below are some strong support levels that could send the price back. Support levels: 2845-2850 and 2830. Resistance levels: 2860, 2872, and 2882. Trade Active Gold is testing the previously defined support zone. The accent is on 2845-2840. If the bulls keep the defense above this zone, it is worth waiting for gains in the short-term. As part of the upward corrective, the price may test the 0.5-0.7 Fibo level, as well as the previously broken ascending channel barrier. There are no technical or fundamental grounds to break the trend; growth may continue despite a fake collapse. By Nexus Trades Zone
FX:XAUUSDLong
by NexusTradesZone
EURO - Price can leave pennant and rise to $1.0500 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price entered to rising channel and soon reached resistance line, after which fell below. Next, price rose to $1.0455 level, and then corrected to support line, after which bounced up and broke $1.0455 level. Then Euro reached resistance line of channel and then started to decline, making a first gap and dropped to resistance area. Price exited from channel, breaking $1.0455 level, and continued to fall inside pennant, where it fell to $1.0210 points. Before this, price made a strong second gap, and then quickly rose to resistance line breaking $1.0455 level. I think that Euro can bounce up from pennant to $1.0500, breaking resistance level and exiting from this pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
5
$SPY February 6, 2025AMEX:SPY February 6, 2025 15 Minutes. Yesterday we had 604 levels. Today for the rise 598.58 to 604.36 holding 602 levels we can expect 605-606 levels as initial target. Once 606 is held i expect 609-610 levels tomorrow or by Friday. AMEX:SPY is above all moving averages. At the moment uptrend intact as long AMEX:SPY above 598 levels being the last LL. Not for shorting today as per chart at the moment. The top of channel is around 610 levels for the day on time.
AMEX:SPYLong
by RiderTrader
2
Bitcoin 874d, 218d channels explored. Today I explore and log the patterns of Bitcoins 2015-2018 cycle using a simple SMA, Puell Multiple, NUPL indicators. "Bitcoin: Net Unrealized Profit/Loss (NUPL)" As I measure the capitulation on the 2015 period we get a upwards channel that forms the majority major trend of the Bitcoin bull market, so far I got 847d because the BPM, NUPL started to tap the upper trend line including the Pi cycle that also experiences a break out. After the breakout of the sideways up trending channel occurred we follow a 218d period of what I could call it the "vertical phase" of the bull market. So far monitoring this situation in todays market we are right at the end of the range where the next logical move could occur. Understandable if this market repeats it has some serious price valuations that could occur before year end. Is it crazy to believe we could be over $150,000 by the end of the march? I don't really think so. Interesting events are unfolding and if this next move is as volatile as the 2015 cycle I think we should expect a similar pattern emerging where capital FOMO's into Bitcoin once again. Thank you.
INDEX:BTCUSDLong
by BASEFUND
XAUUSD - Gold need correction till golden zone of retracement!Hello Mates! As we all watching XAUUUSD making ATH from last Two weeks and every time breaking its Higher Highs but here we need a good correction in gold to continue its trend here i have shared my analysis for gold read chart carefully and description. As gold has made two parallel channels in bullish trend internal and external parallel channels and following respecting external channel for impulsive wave and internal channel for pull back/retest/ and correction. i have drawn those both channel and marked all levels of movement! Gold Next Move Gold needs to take a corrective move till internal channel's down trendline which is very good zone of support and buying zone. where market can react with high volume candle to make a new ATH. Key Points Support: 2791 Resistance: 2895 Fib Golden Zone: 2815-2827 OB and FVG Level:2771-2792 Gold will give good move till 2791 and this is my target for sell, and buying zone for gold if you like my analysis support me and like my ideas
OANDA:XAUUSDShort
by PIPsOptimizer