Supportandresitance
BTC possible next move.here is my insight on BTC, as expected BTC did bounce in the zone I placed from my previous analysis.
BTC might try to go range, or try the highs because of the divergence in lower timeframe before going down to retest the support.
I placed the possible entry for long:
1. previous high
2. 50% of the previous gap.
Ofcourse this might go lower, touch the middle of the channel maybe.
Overall I'm still bullish but still expecting some pullbacks before going up again.
#BTCUSDT
This is not a financial advice, It is not 100% guarantee, and I only share base on what I see.
Still DYOR, and TYOR ^-^! just giving you a possible next scenario in my perspective. Happy trading everyone, hope you will have a profitable year.
BTC 1H Interval Short-TermHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price remains above the local upward trend line.
When we spread the trend based fib extension grid, we can determine the support zone from $35,321 to $34,925, and then we have support at $34,264.
Looking the other way, we have a visible zone from $35,785 to $36,003, and then we have a second zone from $36,233 to $36,562.
Please look at the RSI indicator, which is moving in the upper part of the range, which may bring a price decline, while the STOCH indicator indicates that there is still some room for the price to recover.
Hochschild Mining breaking out?On the weekly chart, Hochschild Mining looks to have broken out from 95.75 resistance. This bottom started to form in July 2022, so it's taken a year and 5 months to complete. As Gold is pushing higher this could mean more to come from this miner?
WARNING: This not a recommendation to trade. Do your own research and decide on your own trades.
State of Bitcoin (November)A daily chart on BITCOIN is very simple to dissect, what BITCOIN will do from here is not so easy to work out.
The idea is to plan for what to do at the key levels and everything else in-between is just noise that wants to take your money.
How I see BTC is what you see in the chart:
- The immediate attention is drawn to the ascending triangle BTC currently finds itself in, these patterns can be bullish or bearish depending on the direction of the breakout. the trend is currently bullish and that plays a factor in the outcome.
- What was previously a bearish OB at the 32k level has been flipped but not retested for support yet, if the ascending triangle fails or bulls run out of momentum the most likely plan would be to drop to that level.
- The next bearish OB is sat 22% higher than that 32k level at ~38k, before that there really isn't much resistance.
- In the longer term, a matter of months I think the best possible buy zone is the FVG at 19-20k area. That would be a no brainer buy and hold for the next several years. We've seen a deviation below that area and the reclaim is what started this rally. I would estimate that this is the absolute floor for BTC now, especially when the ETF's are approved and the halving comes into play.
- If this FVG isn't filled the next best place is the S/R level at 25k but as we can see on the chart, the third time testing an area it usually gives way so for me 25k doesn't look like it would hold another retest.
I do think max pain would be just keep squeezing higher while everyone is waiting for one more dip, I myself would like one more dip but every eventuality must be planned for.
#DXY more bullish outlookHello, everyone. I hope you're all having a great week.
Let's analyze the DXY chart and try to make some predictions for the upcoming week.
Last week, the price was rejected from the important low indicated on the chart and also established a new 4-hour high, as evident in the chart. Consequently, the market structure in the 4-hour time frame is now in alignment with the higher time frame, daily market structure, and they both exhibit a bullish trend.
Given this scenario, our primary interest lies in taking long positions in high-probability trading zones. These zones could be around the short-term low marked with an arrow or during a pullback to the broken short-term bearish trendline.
In the meantime, as we await the price to reach these levels, we will closely monitor the market. Once the price approaches these areas, we will be looking for confirmation signals before considering our trades.
XRP/USDT 1D Interval Chart Overview of the XRP pair to USDT chart, on a one-day time frame. First, the yellow line will mark the downward trend from which the price has moved into the sideways trend channel marked with blue lines.
Moving forward, we can move on to marking support areas when the price starts to reverse. And here the most important support point is the zone from $0.50 to $0.46, which protects against a larger price drop.
Looking the other way, we see that the price has reached an important resistance level at $0.62, which it has no strength to break yet. However, if we manage to break above this resistance, we can move further towards the strong resistance zone from $0.74 to $0.82.
As we can see, the place where the red ema cross 10 line crosses the green ema cross 30 line from below confirmed the transition to a local upward trend.
Please look at the CHOP index, which indicates that there is still some energy left for movement, on the RSI indicator we are approaching the upper limit, which may limit the room for further growth, the STOCH indicator also exceeds the upper limit, which may also result in a rebound of the current increase.
ETH/USDT 1H Interval Chart Short-TermI invite you to review the chart of ETH in pair with USDT, also on a one-hour time frame. Here we have a visible movement along the local lateral trend line, which we mark with the yellow line, what's more, we can see that we are currently approaching touching the previously mentioned trend line for the third time. When we turn on Ema Cross 10 and 30, we can see that the red ema cross 10 line crosses the green ema cross 30 line from above, which indicates a transition into a local downtrend, we should watch whether the upward trend line will maintain the price.
Now let's move on to marking the support places. We will use the Trend Based Fib Extension tool to mark supports, and here we see that the price has returned to the support zone from $1,800 to $1,782, leaving this zone at the bottom may result in a drop to the area of the second zone from $1,753 to $1,732, which protects us from a larger price drop.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here we have the first very strong resistance in the zone from $1,833 to $1,848, and then visible resistance at $1,867.
The CHOP Index indicates that there is still some energy left to move. The RSI indicator returned to the lower part of the range, but when we look at the STOCH indicator we can see that we have approached the lower limit, which ended the current decline and may allow for another attempt at price recovery in the coming hours.
BTC Short-Term 1HInterval ChartHello everyone, I invite you to review the current situation on BTC in the USDT pair, taking into account the one-hour interval. First, we will use the yellow line to mark the local upward trend line above which the price is staying. At this point, it is also worth marking the side trend channel with the blue lines where the price is in its upper part.
Now we can move on to marking support areas when the correction begins to deepen. And after unfolding the Fib Retracement grid, we can see that we are currently in the support zone from $34,516 to $34,304, but when the price breaks down, we still have a second important zone from $33,959 to $33,716, and then support at the lower border of the channel at $33,402.
Looking the other way, in a similar way, using the same fib retracement tool, we can determine the places of resistance. First of all, we will mark an important resistance zone from $34,746 to $35,109, which for now discourages any attempt to increase, but when we manage to come out on top and then test it positively, we will move towards the resistance at $36,164, only when the price overcomes it. it will go further towards $40,000.
Please pay attention to the CHOP index which indicates that there is still energy to make a move, on the RSI indicator we are moving in a sideways trend near the middle of the range, while on the STOCH indicator the current price drop brings the indicator closer to the lower limit, which may result in a renewed trying to increase the price.
BNB/USDT 1DInterval ChartHello everyone, I invite you to review the BNB chart in pair with USDT, also on a one-day time frame. First of all, we can use the yellow line to mark the downward trend line from which the price went up.
Now let's move on to marking the support places. We will use the Fib Retracement tool to mark supports, and as you can see, first there is a support zone from $224 to $220, but then we can see a decline to the very strong zone from $209 to $202.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here you can see that the price has been rejected by the resistance zone from $231 to $238, only when we break above it will we move towards the resistance at $248.
When we turn on EMA Cross 50 and 200, we can see that we are still in a strong downtrend, staying below the blue line of EMA Cross 200. The CHOP Index indicates that there is still energy left for a move. On the RSI, we are moving in the upper part of the range, but when we look at the STOCH indicator, the visible rebound creates room for a potential further price increase.
BTC/USDT Short-Term 1HIntervalHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price is moving above the local uptrend line.
After unfolding the trend based fib extension grid, you can see a support zone from $34,451 to $34,202, and then we have a second zone that protects against a return to $31,000, from $33,797 to $33,511.
Looking the other way, you can see that the price has been rejected by the resistance zone from $34,578 to $34,880, but when we break out of it, there is still resistance at $35,285.
Looking at the CHOP indicator, we see that there is still energy left for a move, while the RSI indicator and the STOCH indicator indicate that we may see a greater price recovery.
US500 expecting a bounce? Here are my thoughts.US500 (Daily Chart)
I'm expecting a bounce to ~4260/70 area. Here's why.
Looking at the AVWAP (Blue lines) from the January 2022 highs and October 2022 lows, we were bound to see some level of support here. I've been saying this for some time now that we'll reach at least 4100.
Given the strong confluence of support around this area (the AVWAP and the horizontal level), I'm expecting a bounce from here. The target for the bounce would be somewhere around the 4260/70 area. If you look at the previous rallies in this correction they're both ~4.7% from the lows of the down moves. If we consider this to be the low of the move, ~4.7% lines up with the 4260/70 area along with the white trend line and potentially with the 50EMA as well, by the time price gets there.
What will determine if this rally will stick or not will be the volume behind the moves. If you look at the volume in the previous rallies you can see that the volume was decreasing quite a bit and rose again as the price began to move lower.
If this rally is to be sustained, we're going to need to see volume and broader participation from the market, otherwise, if/when we get to the 4260/70 area we'll see the next leg lower.
Of course, there will be levels of resistance along the way such as the 4170 area and the 4210 area.
As always, be sure to DYDD and be sure to manage your risk.
VWAP again!- Plan for 30th October 2023Nifty future and banknifty future analysis and intraday plan in kannada.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
XAUUSD GOING LONG AND SHORTHi guys I'm back updating my gold scenario.
In my yesterday analysis, I highlighted area 1954 as a supply level , being tested multiple times was broken during Mr. Powell speech. leaving us with only one immediate area ,1978 as a supply zone. But since underlying fundamentals are bullish I need to confirm my entry in lower time frames to go short otherwise it's kind of risky. Should price get through the area I'm expecting 2004 area as another sell zone.
Our immediate demand area is around 1970-1972 which has proven itself once. Going long from this demand level like always requires checking lower time frames for further confirmation.
Below our immediate demand level we have 1962 which is the broken resistance and could support the price should get there.
Make sure you have these levels on your chart and do your own assessment while taking any trades.
Be honorable
BTC 4H Interval Review ChartHello everyone, I invite you to review the current situation of BTC in the USDT pair, taking into account the four-hour interval. First, we will use the yellow line to mark the local downward trend line from which the price came out at the top.
It is worth mentioning that the place where the downtrend line was left is also the place where the yellow Ema Cross 50 line crossed the blue Ema Cross 200 line from below, thus confirming the return to a strong upward trend.
Now we can move on to marking support areas in case the correction deepens. And here, using the trend based fib extension tool, we will mark a very strong support zone from $30,996 to $29,839, but if the support does not hold the price, we still have support at $28,332.
Looking the other way, we can determine resistance areas in a similar way. However, here we will mark the resistance at $36,303, which is a very strong resistance that the price must face before we move towards $40,000.
Please pay attention to the CHOP index, which indicates that a lot of energy has accumulated, on the RSI indicator, despite the recovery, there is room for a further decline, but at this point you should add the STOCH indicator, which shows that the energy in the downward movement is running out, which may result in the opposite direction and the price increases again.
BNB/USDT 1H Interval ReviewHello everyone, let's take a look at the BNB to USDT chart taking into account the one hour time frame. As you can see, the price is moving above the local downtrend line.
After unfolding the Fib Retracement grid, we will mark a support zone from $224 to $221, while we still have support at $218.
Looking the other way, you can see that the price has moved back through the resistance zone from $230 to $234, and then we have resistance at $238.
Looking at the CHOP indicator, we can see that there is still some energy left for a move, on the RSI indicator, despite the recovery, there is still room for a decline, and on the STOCH indicator, we have room for the price to go lower.
LTC/USDT 1D ReviewI invite you to review the LTC/USDT chart. Starting with the blue lines marking the upward trend channel from which the price broke down, but locally you can see a sideways exit from the yellow downward trend line.
In order to determine support for the price, we will use the Fib Retracement tool and thanks to it we can see that the price is struggling to climb out of the strong support zone from $68.86 to $56.22. If the current zone did not support the price, we could see a decline to the area support at $40.26.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that the first significant resistance is at $78.72, and then we have a strong resistance zone from $92.60 to $102.46.
The CHOP index indicates that there is still some energy left for the move, the RSI indicator has a slight recovery and there is room for the price to go a little higher, when we look at the STOCH indicator we see that it has exceeded the upper limit, which influenced the recovery, but in combination with the RSI indicator it may be slight recovery and another increase in the LTC price.
ETH/USDT 1DInterval Review ChartHello everyone, I invite you to review the ETH pair to USDT chart, also on a one-day time frame. First, we can use the blue lines to mark the upward trend channel in which the price is currently moving. However, locally it is visible that the price has moved above the downward trend line.
Now let's move on to marking the support places. We will use the Fib Retracement tool to mark supports, and as you can see, the first support zone is from $1,671 to $1,517, but if this support does not hold the price, we may see a drop to the area of the second zone from $1,363 to $1,156.
Looking the other way, we can similarly mark places where the price should encounter resistance on the way up. And here we can immediately notice that the price is approaching a very strong resistance zone from $1,916 to $2,230, only when it breaks above it will it be able to move towards the resistance at $2,557.
When we turn on EMA Cross 50 and 200, we can see that the price has returned above the blue line of the 200 moving average, but it is worth watching whether the yellow line of EMA Cross 50 will cross the blue line from below, which would confirm a strong upward trend.
The CHOP Index indicates that most of the energy has been used. The RSI indicator is approaching the upper limit and it is clear that there is some room for growth, but the STOCH indicator exceeded the upper limit and this resulted in a slight price recovery.
BTC/USDT 1D Interwal 40000$ or 31000$Hello everyone, I invite you to review the current situation on the BTC to USDT chart, taking into account the one-day interval. We will start by marking a strong downward trend line from which the price moved sideways, and currently we can mark the upward trend channel in which we are moving with blue lines.
Now we can move on to marking support areas in the event of a correction. And here, first of all, it is worth marking the support zone from $30,687 to $27,750, but when we fall below this zone, we may see a drop to the area of the second zone from $23,135 to $19,884.
At this point it is worth looking at the EMA Cross 50 and 200 as we can see that the yellow ema cross 50 line has returned above the blue ema cross 200 line, confirming that the strong uptrend is continuing.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. Here you can immediately see the fight against the strong resistance level at $35,931, which currently lacks the energy for a larger move, but when the price overcomes it, it will have an open path towards the strong resistance zone from $42,223 to $48,495.
Please pay attention to the CHOP index, which indicates that the energy at this moment is mostly used, the RSI and STOCH indicators clearly exceed the upper limit of the range, which may negatively affect the BTC valuation and translate into a recovery after such a dynamic increase. In such a situation, we could see a rebound towards $31,000.
NZDUSD LONG AND SHORT Scenario Hi guys.
This time I'll be looking into NZDUSD. The Currency has been rallying up since yesterday and today reached our supply area for the second time. Last reaction to the zone was considerably good and this time could same happen. In addition to the supply area we have the broken support which turned into resistance. So with these clues going short it's advisable. But later this afternoon it's going to be a news related to dollar which could impact our analysis so make sure you are monitoring price behavior.
Should price go down we have a broken resistance around 0.5836 which could support the selling off and lead to a reaction. Below it the demand area should also be closely monitored for a secure entry.
If price continues further up then multiple other supply areas could be potential short setups or exit point for long trades. Make sure you do your own assessment prior to taking any trades.
Be honorable
#AUDNZD selling opportunity
Hello, dear traders and colleagues. I wish you all a successful trading week.
Let's examine the AUDNZD chart to identify a potential selling opportunity.
As you can observe, the price is currently testing the upper boundary of a bearish channel, which has been acting as a resistance following an extended rally. Recent price movements in the past two days show signs of exhaustion, further increasing the likelihood of a bearish move.
Additionally, by examining the daily candlestick, you'll notice that we've experienced upside rejections in the last two days, indicating the presence of selling pressure.
To initiate a sell position on this pair, we would prefer to witness another upward movement, aimed at clearing liquidity from above the horizontal arrow we've marked on the chart. Subsequently, we'll look for a break below the short-term bullish trendline that has kept the price elevated during the recent bullish movement.
SPX & NQ - Rolling Over??The stock markets are looking extremely weak at the moment and after what turned out to be a "sucker's" rally that lasted about a week from early October, things appear to be heading south quickly again.
SPX has broken out of its rising channel that had begun since the start of the bull run from 13 Oct 2022 even closed (slightly) below its 200 Day moving average last Friday.
Both the SPX's and NQ's momentums had clearly shifted away from a rising trend to sideways in the past 2 months (forming 2 lower peaks now). The descending triangle pattern in NQ is also potentially bearish with higher odds of breaking to the downside eventually.
Any near term rallies are not to be trusted unless we can break above the trendline resistences (red) for a start, not to mention market breath in both indices need to improve significantly.
Mostly trading short term or sitting on the sidelines for now.
Disclaimer:
This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
#GBPAUD buying opportunityHello, traders and colleagues.
Let's take a look at the GBPAUD chart to explore the potential buying opportunity it presents.
Recently, the price broke above the 4-hour bearish trendline and subsequently followed by a bearish retracement. This short-term bearish corrective move has also introduced another trendline, which was breached earlier today, due to worst than expected news released for the AUD this morning.
Currently, the price is testing a crucial level, comprising the broken trendline and a short-term support and 1H 200 EMA which could potentially prompt the price to reverse and resume its bullish momentum.
If you have found this analysis helpful, please take a moment to leave a like and a comment or share your idea with me.
