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Bitcoin Analysis: Can the 68,500 Support Spark a Fresh Upswing?Dear friends, Today, let's analyze Bitcoin. After reaching a peak of $74,000, Bitcoin is now testing its main support level at $68,500. This area is where we expect strong support to form, and given the current situation, we are likely to see a bounce back toward the current resistance at $71,200. However, the question remains: is this bounce just a temporary move before a continued downward trend, or is it a signal of a potential new upward rally? Our key support is at $68,500, while the current resistance stands at $71,200. Additionally, the 200-day exponential moving average plays a crucial role in steering the trend back toward an upward direction. The support level around $66,500 also overlaps with this moving average, which can strengthen this support. What do you think the future trend holds for us? We look forward to your thoughts! 🌟
by arzdigitalistha
4
platinum Platinum has sold quite aggressively for the past couple of days. We are back on that demand line we have been founding support for the last few weeks now. If buyers continue finding value on these levels we will finally pass the high at 985 and eventually the higher resistance level at 1020 IF not next stop bellow is the 940s level . As we can see on the MACD negative momentum so far has been building up with no signals of divergence . Also the more price bounces on a trend line the buying power reduces and looking left we have been bouncing on this trend line for a while. Good sing though is that we are now sitting just above the average price of Platinum that the last 50 days give as the 50 day MA on the Daily confirms and that has been a strong support so far . Signals on this are mixed right now.
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by django2
Elliott Wave Analysis & Forecast, EURUSD, M1, 20161213No change in my view since previous publish, market are going down usually as expected. The correction in blue wave b converted from flat to triangle and red wave 3 ended at 1.1300 also finished blue wave b of Y. After that we saw a quick decline in last blue wave c and the ideal target for this wave is near 0.8500 area. This area has lot of support as long term green wave II will finish here. traders can enter into short trade from current price targetting major psycological area 1.00. Stop loss will be slightly above 1.0800. muhiuddin
Short
by latifzadeh
Short on US30 SELL SELL SELL !!!I personally have been short on this pair since December :) Okay some may see this as a crazy setup but i believe US30 setup will fall to around 7000 in the next year or so There are many reasons for this setup Fundamentals and technicals FUNDAMENTALS - jubilee year ? - shemitah Year ? - every 8 years a financial crisis - FED raising rates to signify economy in a recession - The possibility of QE4 ? - A possible world disaster ? i can keep going on in regards to such things but ill keep it short TECHNICALS - Price has hit a all time high and after the US30 booming for around 8 Years isit time for a change ? - Price found strong KEY LEVEL (RES) at 18000 - Price is now down trending - Price has put in lower high and lower lows - Price has broken many key Trendlines - Also price is on the verge of breaking a key level (SUP) at 16000 - If price breaks that key level we will possibly see a huge drop to the downside I can go on abit more too but i am sure you all get the idea i am portraying i do believe and confident of the drop too 8000/7000 :) so here we come 8000 POINTS PROFIT ;)
FX:US30Short
by ARFXC
12
Short scalp on GOLDSHORT TERM ANALYSIS: After a major rally from gold, we can expect Gold to reverse at this point. With RSI heavily in the oversold region, we can catch some pips shorting it. LONG TERM ANALYSIS: Gold can potentially go up higher following the retracement. However It may always run sideways after the retracement Short @ 1073.55 Stop @ 1075.71 T/P @ 1069.77 Happy new years everyone, and please follow and leave a comment for better and improve future analysis!!
FX:XAUUSDShort
by AlexxChan