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Resistence

BTC on its way to $40,000 or $31,000?Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line. After unfolding the trend based fib extension grid, we can see that the important support is the zone from $31,060 to $29,888, to which we can probably see a price reversal in the event of a correction, and then we have support at $28,406. Looking the other way, we can see that the price is fighting a very strong resistance zone from $33,267 to $35,698, only when it comes out on top and tests positively will we be able to see a path towards $40,000. Please look at the STOCH indicator, which shows that the energy is moving above the upper limit, which may also result in a price recovery.
by cryptodailyuk
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BTC/USDT 4HInterval Review ChartHello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line. After laying out the FIb Retracement grids, we can see that first we have a support zone from $29,097 to $28,289, and then there is a second strong zone from $26,993 to $26,065. Looking the other way, we will similarly check the current resistance levels, but here we can clearly see a strong resistance zone from $30,358 to $31,845, only after it is overcome the price will be able to go up further. When we look at the STOCH indicator, we can see that we are in the process of recovery and there is room for the price to go slightly lower.
by cryptodailyuk
Filecoin (FIL): Can It Break Free from Bearish Grip?In the ever-fluctuating world of cryptocurrencies, investors and enthusiasts are closely watching the price movements of Filecoin (FIL) as it attempts to break free from the clutches of persistent sellers and consolidate its position in the market. While other digital assets have shown signs of bullish momentum, Filecoin has struggled to make significant gains, and it remains entrenched in a broader downtrend. A Battle to Sustain Above the 20-day EMA Filecoin, like many other cryptocurrencies, has had its share of ups and downs. At the moment, it is making a concerted effort to sustain itselfabove the 20-day Exponential Moving Average (EMA). This key indicator is often used by traders to gauge short-term trends and marketsentiment. For Filecoin, however, this hasn’t been an easy task, as persistent selling pressure has made it challenging for the bulls to gaincontrol. Filecoin’s Ongoing Downtrend Amidst Bullish Crypto Market While the overall sentiment in the cryptocurrency market has been bullish, Filecoin seems to be moving against the tide, remaining in a consistent downtrend. The coin has been forming lower lows, indicating a general weakening of its position despite the broader positivity in the crypto sphere. Investors and traders are keen to understand the factors contributing to this trend and whether there is any hope for a reversal. The 38.2% Fibonacci Retracement Zone: A Potential Turning Point One glimmer of hope for Filecoin is its current position near the 38.2% Fibonacci retracement zone. This is a critical level for technical analystsand traders as it often serves as a turning point for assets experiencing corrections. Buyers have been making determined efforts to initiate afresh recovery, setting their sights on a crucial swing barrier at $3.40. The question on everyone’s mind is whether this zone will serve as alaunching pad for Filecoin’s resurgence. Resilient Buyers Amidst Selling Pressure Despite the prevailing downtrend, Filecoin’s buyers have displayed remarkable resilience. They have consistently absorbed the sellingpressure, indicating their commitment to preserving gains. This resilience hints at a potential shift in the balance of power in the market.Investors are cautiously optimistic that this might be the catalyst for a much-anticipated upward trend. Understanding Filecoin’s Unique Challenges To make sense of Filecoin’s struggle within the cryptocurrency market, it’s essential to consider some of the unique challenges the projectfaces. Filecoin is a blockchain-based, decentralized storage network designed to provide secure and efficient data storage services. However,the decentralized storage sector is highly competitive, and Filecoin faces stiff competition from other projects offering similar services. One of the significant factors impacting Filecoin’s performance is its direct relationship with data storage supply and demand. The token’svalue is inherently linked to the utilization of its storage services. Therefore, any fluctuations in the demand for decentralized storage can havea direct impact on Filecoin’s price. The Role of Persistent Sellers One of the primary factors suppressing Filecoin’s price is the presence of persistent sellers. It’s not uncommon for cryptocurrency markets tohave a mix of long-term investors and short-term traders. Short-term traders often seek to profit from price volatility, and their activities canlead to frequent price fluctuations. While long-term investors may hold onto their FIL tokens in anticipation of future value, short-term traders may sell in response to short-term market dynamics. This constant supply of tokens in the market can create downward pressure on prices. Technical Analysis and the Fibonacci Retracement Technical analysis plays a significant role in evaluating the potential price movements of cryptocurrencies. The 38.2% Fibonacci retracement level, as mentioned earlier, is a key tool used by analysts and traders. This level often serves as a support or resistance zone, where price trends can reverse or gain momentum. A Glimpse of Hope at $3.40 As Filecoin’s buyers focus on the swing barrier at $3.40, it’s a price point that holds considerable significance. Breaking through this barrierwould not only represent a technical victory but could also signal a change in market sentiment. Traders and investors often look at roundnumbers and historical price levels as important psychological and technical levels. Successfully surpassing this barrier could set the stage fora more substantial recovery. Potential for a Reversal While Filecoin’s challenges are evident, it’s important to remember that the cryptocurrency market is known for its volatility andunpredictability. Sentiments can change rapidly, and what may seem like a downtrend could suddenly reverse course. Filecoin’s unique position in the decentralized storage space, combined with the determination of its buyers and the technical analysis at play,provide a glimmer of hope. If the market sentiment shifts, and demand for decentralized storage increases, Filecoin may see a resurgence.
Long
by DEXWireNews
DOT/USDT 1DInterval ReviewI invite you to review the chart of DOT in pair with USDT, on a one-day time frame. First, we will use the blue lines to mark the downward trend channel where the price remains. Going further, we can move on to marking support areas when we start a larger correction. For this purpose, we will spread the trend based fib extension grid, and we can see a strong support zone from $3.91 to $3.48, as you can see, the price has returned to the levels from which it started in the previous bull market. However, if we fall lower, we may see a drop to the support level of $2.86. Looking the other way, we see that the first significant resistance is the resistance zone from $4.53 to $4.80, then there is resistance at $5.13, and another strong resistance at $6. Please look at the CHOP index, which indicates that the energy is running out, the RSI indicator shows that we are still moving near the lower limit, which gives room for increases, and the STOCH indicator is also above the lower limit, which may be an impulse for an upward movement.
by cryptodailyuk
November Soybeans Test 1300 The November soybean contract tested 1300 per bushel on Tuesday, trading all the way up to 1303 ½, before ultimately settling at 1296 ¾. The question is now - where do we go from here? Psychologically Significant Resistance Failing to close above 1300 means we failed to close above a psychologically significant resistance level at 1300. Moreover, we’ve previously identified 3-star resistance between 1294 and 1299 ¾. Because we closed within that resistance pocket, it’s possible that we test 1300 and beyond once again in Wednesday’s trading session. But what if we don’t? If the market corrects lower on the failure to trade through resistance, where do we find support? Previous Resistance Becoming Support If we reject higher prices in tomorrow’s trade, previous resistance between 1280 and 1285 ¼ should serve as the first line of defense. Meaning, that if we see prices sell off throughout the session on Wednesday, we should expect prices to bounce back somewhere between 1280 and 1285 ¼. If we cut through 1280 rapidly, the next sufficient support pocket may factor in near the 38.2% retracement level between the May 31st and July 24th price extremes - coming in around 1249-1250. The Bottom Line We are in the midst of a pivot in the November soybean contract. Tomorrow’s price action should provide guidance on the intermediate-term’s price trajectory. Last week’s USDA report was mostly supportive of the soybean complex, and export sales have performed well over the past 6 weeks. That said, net-exports remain lower than they were at this time last year, and global demand remains deflated. Pay close attention to tomorrow’s closing prices as they may indicate the direction of the trend over the next 2-4 weeks. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSX2023
by Blue_Line_Futures
Jai Corp at reversal point and continue the positive uptrendJAI CORP Have been closely following this stock in past. It has given a good breakout from previous resistance level and could possibly continue the uptrend in future. Currently, showing some reversal signs as the price is at it's previous resistance level back again. Could consolidate for some days before reversing for upside. if the market stays stable, My target for this stock is Rs.300 by anywhere in the year 2024.
NSE:JAICORPLTDLong
by StockSession
Gold H4 - Breakout and Retest at 1938 ResistanceIn the dynamic world of trading, spotting key price levels and breakouts can lead to profitable opportunities. We've observed a notable event on the H4 (4-hour) chart of Gold: a strong resistance breakout followed by a price test at the 1938 level. Let's keep it simple and explore this setup. Chart Setup: Asset: Gold Timeframe: 4-Hour (H4) Event: Resistance Breakout and Retest Key Observation: The H4 chart for Gold shows a recent resistance breakout, and the price has tested the significant 1938 level. Trading Idea: Here's a straightforward trading idea based on this setup: Entry: Consider entering a long position if Gold convincingly breaks and closes above the 1938 resistance level. This breakout could signal further upward momentum. Stop Loss: To manage risk, place a stop-loss order just below the breakout point, providing a buffer for potential price fluctuations. Take Profit: Set a take-profit level at your desired target. Given the 1938 resistance breakout, you may consider setting your initial target based on your risk-reward ratio and market conditions. Risk Management: Always prioritize risk management by calculating your position size to align with your risk tolerance. Adjust your stop-loss and take-profit levels accordingly. Final Thoughts: As of the time this post was written, Gold is testing the 1938 level after a resistance breakout. Markets can be unpredictable, so proceed with caution and maintain a disciplined approach to trading. Wishing you successful trades! 📈💰
OANDA:XAUUSD
by TradeGeniusPro
ETC/USDT 4HInterval ReviewHello everyone, let's take a look at the ETC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line. After unfolding the Trend Based Fib Extension grid, we see that the first support is at $15.44, and then we have a support zone from $15.19 to $14.98. Looking the other way, we will check the resistances in the same way and the first resistance is at $15.65, then the second resistance at $15.96, the third at $16.20, and then there is a resistance zone from $16.44 to $16, $79. Looking at the CHOP indicator, we see that there is a lot of energy to be used, while the STOCH indicator approached the upper limit, which resulted in a change in the price direction with room for further decline.
by cryptodailyuk
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