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ETH/USDT 4HInterval Overview Chart Hello everyone, I invite you to review the chart of ETH in pair with USDT, also on a four-hour interval. Let's start by using the yellow line to determine the local downward trend from which the price broke at the top. Now let's move on to marking the support places. We will use the Trend Based Fib Extension tool to mark supports, and as you can see, first we have a support zone from $1,772 to $1,744, and then it is worth defining a second strong support zone from $1,674 to $1,621. 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 $1,844 to $1,894, only when we come out on top will we be able to see an upward movement to the second zone from $1,976 to $2,034. When we turn on EMA Cross 50 and 200, we can see that the yellow line cuts the blue EMA Cross 200 line from below, which confirms a strong upward trend. The CHOP index indicates that there is energy for another move, the RSI indicator shows a rebound with room for further movement, but the STOCH indicator shows that we are approaching the lower limit, which slows down the declines and may result in another increase.
by cryptodailyuk
BionTech Fastly Approaching Major Resistance, Will we Break?Hi Guys, this is a Technical Analysis on BionTech (BNTX) on the 3 Day Timeframe. We are currently approaching a MAJOR RESISTANCE Trendline. This Trend started from the TOP in 08/2021. Everytime we've interacted with it in the past, we've been REJECTED. Will we get Rejected again? Well, we've had 3 touch points already. In trendline theory, it states that atleast 3 touches are required before a trendline is weak enough to break through. So, it is possible that a break can occur. With risk of new variants, hospitalizations of COVID increasing and a push of government to get people to get boosters, this could be a chance for Trend change to UPSIDE for BNTX. BUT just looking at it in a pure TA lens, i wouldn't just start buying now. I would wait for a break above the Trendline and CONFIRMATION above it. Also with the break, note that VOLUME should be spiking and increasing. We should not see a DECLINE in Volume as we break through. That can be signs of a FAKEOUT. We are also reaching some Resistance from a Support line turned Resistance line. Now lets look at our indicators for more evidence. RSI -> We've had the Lowest RSI reading on May 09,2023 EVER in BNTX history. This could be a catalyst for more buying pressure and a trend change. We also broke above RSI Red Resistance line. MACD-> A momentum indicator, has crossed BULLISH, below the 0 level. If we continue this bullish momentum and the Blue/Orange lines move above the 0 level, this can be inject the well needed momentum for BNTX to increase in price. STOCH RSI -> Is also in a BUllish cross and it shows that theres plenty of room for momentum to continue. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on BNTX in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:BNTX
by SafofAllTrades
2
Etsy Potential Major Support Bounce Trade IdeaHi guys! This is a technical analysis on Etsy (ETSY) on the 3 Day timeframe, supporting a potential Support Bounce Play. We've come a long way from our recent Rejection off the "Major Resistance" Red Trendline. Moving below the 21 EMA (Purple line) Breaking Below our previous Support Trend line Turned Resistance Line (Black Horizontal line) To now come in contact with Major Support. Notice how in Previous interactions with this "Major Support", we have bounced for price gains. The key is not the percentage gains but simply the fact that we bounce from here. Our previous candle printing a Bullish Engulfing candle and current candle also in the process of confirming. This supports the idea of further price increases as it indicates buying pressure. If history is any indication, also remembering that its not an exact reference. We can say that it is "probable" that we BOUNCE from here. Since its our 3rd touch point in all of the history of ETSY's price action. This also adds to my bounce projection. Price action tends to react around Support/ Resistance trendlines. If this holds true, our target for this bounce idea, would be the "Re-test" of the Support Turned Resistance line or "Target 1 Sell Zone". The 21 EMA also converges currently at the level. So this can be another line we interact with. STOCH RSI is a great indicator to combine with this idea as it depicts when bullish or bearish momentum comes into trends. We are currently BELOW the 20 level, but have CROSSED BULLISH. Everytime we've done this in Previous History, and have CROSSED ABOVE the 20 level it has lead to a Bounce off the Support. With all that has been said, this is a Critical Area to watch for Etsy. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on ETSY in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strateg
NASDAQ:ETSYLong
by SafofAllTrades
1
Netflix Weekly Support Convergence Test so far so goodHi guys. This is a MACRO Technical Analysis on Netflix (NFLX) on the 1 Week TImeframe. This week we have TESTED Support on the 21 EMA and the Support trendline of the UPTREND channel. Netflix is heavily supported not only by these 2 mentioned SUPPORT lines but also a 3rd Support, the black horizontal support line as well. Everytime we've touched the Support line of the Channel, we've bounced to the Top of the Channel. EXCEPT our most recent touch, that took us only half way before printing a Topping Tail Candle and selling off. Watch how we close this weeks candle. If we close around or above $428. That would be the best case scenario, as that would indicate an Engulfing Bullish Candle. This could invalidate the Topping Tail Bearish Momentum. BUT for now we need to watch what happens. Keep in mind that the Topping Tails can cause further price DECLINES. AND we absolutely don't want a UPPER WICK for our current weekly candle. This would imply selling pressure and may indicate continuation of the TOPPING TAIL. Watch also the VOLUME -> From here we should see increasing volume and or SPIKE in volume so price can continue up the channel. For whatever reason if we BREAK DOWN from this SUPPORT CONVERGENCE area, the next level would be the 50 SMA. Also NOTE, along with Topping Tail Candle, indicators are showing BEARish signs. MACD has crossed BEARISH RSI Broke BELOW Support Trendline. For us to continue our UPTREND MACD needs to CROSS BUllish and print green bars RSI cannot print below the Horizontal Black line, as that would indicate a Lower low. And Ideally, get back above the Support Trendline and or continue UP. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on NFLX in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:NFLX
by SafofAllTrades
2
$NVDA Overextended Ahead of EarningsThe new bellwether for the semiconductor industry is reporting earnings Wednesday AMC, after the market close, which is not a good sign. It could tumble down if even a minor negative is in that report. The stock's trend is definitely overextended and at risk of being beyond its fundamental values. IF NASDAQ:NVDA drops, so too will the NASDAQ:NDX and CBOE:SPX this week. NVDA is a heavy weight for these two indexes but not the Dow 30.
NASDAQ:NVDA
by MarthaStokesCMT-TechniTrader