Bitcoin- The Good, The Bad and The UglyAs I mentioned in my previous posts, I am bullish on Bitcoin and expected a break above $71,000 with a rise to at least $85,000.
However, I always consider multiple scenarios.
In this post, I want to discuss all the potential outcomes I foresee.
The Good Scenario:
As shown in the chart, although the price dropped again from the all-time high resistance, the bulls have strongly defended the $67,000 support level that I've been emphasizing. If the price recovers and reaches the resistance level again, it is likely to break above, targeting at least $85,000.
The Bad Scenario:
In this scenario, the bulls fail to defend the $67,000 support zone. If this happens, the price will likely drop to the $60,000 zone.
The Ugly Scenario:
In this scenario, all the price action since mid-March could be viewed as a long distribution phase. If Bitcoin also loses the $60,000 support, we could see a significant decline, potentially down to around $45,000.
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CHRUSDT(Chromia) Daily tf Range Updated till 05-07-24CHRUSDT(Chromia) Daily timeframe range. market is on dumping mode so nothing out of ordinary here. breaking 0.2097 clean can lead it to 0.1545. of course that needs a valid daily close. a buyback or retrace more possible in lower mid level after market stables.
Anticipating a MANTAUSDT Crash: Could the Downside Exceed 60%?Hi Realistic Traders, let's delve into the technical analysis of BINANCE:MANTAUSDT !
On the Daily timeframe, MANTAUSDT is presenting a clear double-top pattern , a classic bearish signal indicating a potential reversal from an uptrend to a downtrend. The recent breakout of the neckline, paired with a surge in volume above the volume MA line, amplifies the downward momentum. With the MACD Indicator firmly in the negative zone, the stage is set for continued downside movement, targeting our first target at 1.107. Once achieved, we anticipate a revisit to the neckline or the pullback zone before the bearish bias extends towards our second target at 0.788, the 2.618 Fibonacci ratio.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on CADJPY."
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ZENUSDT(Horizen) Daily tf Range Updated till 04-07-24ZENUSDT(Horizen) Daily timeframe range. holding well even tho we had tough day today in market. now staying above 7.55 will eventually lead it to 9.72. but 7.55 needs hold for that, thats also a retrace point. if 7.55 cant hold it got chances to back to 6.31.
Alikze »» PEOPLE |Corrective structure in ascending channel🔍 Technical analysis: Corrective structure in ascending channel
- It is moving in an ascending channel in the daily time frame.
- At present, the supply area is faced with sales pressure.
- According to the downward momentum, it can have a pullback with a broken structure.
💎Possible scenario: Therefore, any attempt to the supply zone, if it does not break it upwards, can continue the downward path and touch the 0.04880 range first.
💎 Alternative scenario: In addition, if the region breaks the supply, it can grow to the next region.
🛑 Resistance range: 0.10986 - 0.12207
🟩 Support range: 0.03662 - 0.04272
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Alikze »» LISTA | Short -running channel🔍 Technical analysis: Short -running channel
- The time frame 1H is moving in an uptrend channel.
- Currently on the floor of the canal. If it is in demand for 0.6840, it can have 0.78 targets and the mid -channel supply range.
💎 Replacement scenario: But if the floor of the short upward channel is broken, the first green box targets can be 0.5860 and the second color box with brick and stabilization below the area.
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Alikze »» OP | Pullback to the roof of the major is brokenIn the daily and weekly time, it is moving in an ascending channel, where three-wave movements are evident inside the channel. At present, with the failure of the major ceiling, it can continue its upward path by completing the pullback to the specified limits and the ceiling of the ascending channel. In the last part of this movement, it can be completed with another short correction and enter the continuation of its upward wave to the areas of divergence. But if it cannot maintain the range of the ceiling, it will have the possibility of correction to the bottom of the ascending channel.
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Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Hellena | GOLD (4H): Short to 100% Fibo lvl 2266.738.Dear colleagues, I've been thinking and drawing waves for a long time and here are my thoughts.
I believe that Price will still reach the target level of 100% Fibonacci level extension 2266.738 .
Price is now in a wave "4" of higher order and in a small but complex correction. Corrections are always complex and not predictable, but wave "4" should be completed.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
The market reflects that the US will soon cut interest ratesInvestors nevertheless placed their religion in gold withinside the medium and lengthy term. However, withinside the quick term, if the USD nevertheless hangs high, the capacity to live above the edge of 2,350 USD/ounce isn't taken into consideration high.|
Investors are making a bet at the opportunity that the Fed will ought to remember the opportunity that slicing hobby costs too past due ought to have an effect on the restoration and boom of americaA economy.
World gold costs soared because the USD cooled after US Federal Reserve Chairman Jerome Powell made much less hawkish statements on financial policy.
Fed Chairman Jerome Powell expressed delight with the tempo of cooling in US inflation over the last year. This is a much less hawkish sign approximately financial policy.
The DXY index - measuring the greenback`s fluctuations in opposition to six fundamental currencies - fell from 106 factors to 105.four factors at the US market. Gold costs without delay increased.
XAUUSD the range of death!!!good morning gold gang ill be very brief here!
price is stuck in the range awaiting NFP with baited breath. I want to wait for a break out of either side before taking trades unless with get a clear opportunity
4h closures outside would be ideal! wait for the pull back and go ... need to see!
T
Lingrid | EURUSD broke through the CONSOLIDATION zone. LONGEURUSD is gaining bullish momentum, having broken out of a significant consolidation zone and also breaking through the downward trendline. Additionally, the market has managed to close above the crucial 1.07400 level, which has been tested multiple times before. Today's high-impact news has the potential to alter the market's direction in any way. However, I anticipate a short-term correction to the support level before resuming its upward trajectory. This correction will likely be followed by an upward movement if the price rejects the support level. My target is the around resistance zone at 1.08000.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | AVAXUSDT long from SUPPORT levelThe price perfectly fulfilled my previous idea. It hit the target level. BINANCE:AVAXUSDT has pulled back towards the support level after being rejected at the resistance zone around 30. On the daily chart, we can see that the market has reached a demand zone, which suggests that the price may be poised for a potential reversal. Additionally, we can see that price action is forming an inverse head and shoulder pattern. Given this setup, I expect the price to potentially drop slightly before bouncing back up to the channel border. My expectation is that the price will retest the midpoint of this range zone before resuming the bullish momentum. My goal is the resistance zone around 30.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | GOLD Weekly Price Action. What Can We Expect in July?OANDA:XAUUSD prices initially dipped but then rebounded, with attention focused on the 2,300 level. Short-term pullbacks are likely to attract buyers, potentially pushing prices to 2,400 or even 2,450. The month of June came to a close with a doji candle, which often signals uncertainty in the market. As we look at the larger picture, gold's price remains trapped within the range of the massive bearish candle that formed earlier in June. To establish a clear trend, I believe we need to see a break above or below the boundaries of this monthly candle. When we examine the daily chart, we can see that the price is being heavily squeezed, a condition that will eventually lead to a more impulsive movement.
Looking ahead to July, we can expect a significant move if the price breaks out of its current consolidation zone. If it rises above the 2,350 level, there is a high probability that it will retest the top of the range at around 2,400. Conversely, if it breaks below the support level, we can anticipate a more substantial decline, potentially all the way down to the 2,250 level.
Overall, I expect consolidation to continue with a slight bullish sentiment because central banks' efforts to hoard gold and recent geopolitical risks are supporting prices, while the low interest rate environment in the US also favors gold. With summer volatility typically lower, it's likely that gold will continue to consolidate.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Gold in tight range againAs expected, last week gold dropped once more below 2300.
However, after this new dip, bulls quickly took control, and the price swiftly rose to the familiar 2330 zone. Since Friday, the price has been ranging between 2320 and 2335, and a breakout in either direction could determine the future trend.
A break above 2335 could lead to a new test of 2370, while a break below 2320 would expose 2300.
At this moment, I am out of the market, waiting for more clarity.
Lingrid | EURUSD continues FALLING from RESISTANCE FX:EURUSD pulled back into a consolidation zone after being rejected at the resistance level. I think the market will likely remain range-bound until the New York session, given the high-impact news events that are scheduled to occur. However, if the price retests this resistance level and is rejected with a long-tailed candlestick pattern, it could indicate a potential reversal or further downward momentum, as the price has already made a significant move down from this level in the past. My target is the support level at 1.06910 from the resistance zone.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Lingrid | TONUSDT gaining BULLISH Momentum. LongThe price perfectly fulfilled my last idea. The daily chart is showing a strong uptrend, with the OKX:TONUSDT having recently broken and closed above a downward trendline. This significant breach was marked by a large bullish candle, indicating that the level has gained importance. The price action had earlier formed a triangle pattern, which was eventually broken through. On the 4H chart, the market is now approaching a previous resistance zone where we saw a sell-off. I'm anticipating a continuation of the bullish momentum, which I believe will ultimately propel the price towards the 9-10 range. As the market approaches this key level, I'm expecting to see a strong buying interest and a potential surge in upward momentum. My target is resistance zone at 8.700
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻