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BITCOIN →The Trend Reversal. The End Of Growth? Or Not!BINANCE:BTCUSDT Still maintains a bullish market structure as evidenced by the local upward channel within the broader consolidation channel. After a strong rally, the price is moving into consolidation. Consolidation is the accumulation of a position. Accordingly, there can be different situations inside such a figure: traps, traps, false breakdowns, unpredictable impulses and so on. And it all has one goal - accumulation. Technically, the bullish market structure is not broken. Globally - flat. Locally - an ascending channel. The risk of breaking the bullish structure will be if the price starts to approach 91K - 85K. Then the question about deeper correction or even reversal will become more serious, but not now. The bulls are actively defending the boundaries of the local ascending channel and it may lead the price to retest 99-102K, but at the moment there are no preconditions for strong growth. The market will need a few days to recover its strength. Just during this period of time, the asset may show further intentions. Resistance levels: 99K, 101.3K, 104K Support levels: 95.9K, 91.6K If the bears hold the defense below 99K and the price starts to fall down, then pay attention to 95.9K. Further fall or consolidation inside the channel will depend on this level. If the bulls will be able to keep the defense inside the channel (above the support), then in the medium term we can count on the continuation of growth.
by MarketAnalyzar
GBPUSD → Channel breakout. Attempt to change the trendFX:GBPUSD finds an opportunity to grow. A breakout of the local trend resistance is forming amid the dollar correction. Zones of interest: 1.300 The retest of the intermediate bottom ends with reversal candlestick patterns and market reversal structure. The big question is: How long will it last? It all depends on the dollar. The US market received negative jobless claims data yesterday, which may also affect the NFP, which will be released later today. A worse-than-expected data will intensify the dollar correction, pointing to the problems in the economy (against what Powell said recently). In such a scenario, forex currencies may get a chance for a small rally. Technically, a channel breakout is a good signal that could turn into a strong momentum, but apparently traders are not in a hurry yet.... Resistance levels: 1.284, 1.300 Support levels: 1.272, 1.261, 1.2488 Accordingly, if a false breakout of resistance is formed and the price falls beyond 1.272, then we should expect a decline to 1.24. But at the moment there are positive signs to gain from 1.275 to 1.300 in the medium term.
Long
by MarketAnalyzar