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Upwardchannel

Bitcoin can break resistance level and continue grow in channelHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price reached the resistance level and even entered to the seller zone, where started to decline inside the downward pennant. In this pattern, it fell to the support level, which coincided with the buyer zone and also reached the support line of the pennant, after which rebounded up to the resistance line. Then BTC exited from a downward pennant and fell lower than the 60200 level, but soon it turned around and started to rise inside the upward channel, where BTC broke the support level one more time. Next, the price made retest and continued to move up in the channel and even made a fake breakout of the resistance line, but when Bitcoin touched the resistance level, it at once rebounded back to the channel. But a not long time ago price rebounded from the support line of the channel to the resistance level and now continues to trades very close to the 71200 level. So, that's why I think that BTC can make a correction movement to support line of the channel and then rebound up higher that resistance level, breaking it. After this move, the price can continue to move up in the upward channel, therefore I set my target at 75000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7
Bitcoin can correct to support area and then rebound upHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price declined inside the downward channel, where it bounced from the resistance line and fell to the 61000 support level, which coincided with the support line of this channel. Then BTC broke this level, exiting from the downward channel also and declining a little lower, but soon turned around and started to grow inside the upward channel. In this channel, Bitcoin quickly rose to the resistance line, breaking the 61000 level again, and then corrected the 61000 support level, which coincided with the buyer zone. After this, the price continued to grow and later reached the current support level, which coincided with the support area. Soon, BTC broke it and even exited from the upward channel, but a not long time ago Bitcoin turned around and declined to support area. As well recently prices rebounded from this area and started to grow. So, in my opinion, Bitcoin can correct to support area and then rebound up, therefore I set my target at the 72500 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
GOLD - Price can break support level and continue to fallHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A few moments ago price entered to falling channel, where it at once reached $2400 level and then bounced down. After this, Gold fell to $2305 level, which coincided with support area, and at once bounced up to resistance line of channel. Soon price fell lower $2305 level, after which in a short time turned around and started to grow in rising channel. Then price broke $2305 level, made retest, rose to $2400 level, and soon broke it too, exiting from rising channel as well. Also, Gold tried to rise more, but failed and recently declined to support area, where now continues to trades near. Possible, price can break support level, make retest, and continue to decline to $2350 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
14
SPY Channel BreakThe S&P500 opened and closed below the lower support line of an uptrend channel. This in itself is excuse to sell or go short, but generally you want to see 2-3 days of price below or above a channel before considering it a trend shift. Most likely first level of price support to watch for if price does head lower is $500. Nice round number and a psychological level for traders especially going into the end of the week. If bulls are still serious about the bull market they'll defend $500. The PPO trend indicator shows the green PPO line trending below the purple signal line which indicates a short-term bearish bias in price. The trend would be considered bearish in the medium to long-term if both lines cross below the horizontal 0 level. The TSI momentum indicator shows the green RSI line trending below the purple signal line which indicates a short-term neutral trend or slowdown in momentum. The RSI line crossing below the horizontal 50 level also indicates a short-term slowdown in momentum. The green RSI line is also trading below its lower Bollinger Band; in general you want to be short when the RSI line is below the lower BBand. With the hot inflation numbers that came out traders are probably starting to realize that there likely won't be a rate cut by the Federal Reserve in June, and maybe no cuts at all this year. The Fed is responsible for maintaining steady prices and low unemployment. Until unemployment rises the Federal Reserve is not likely to cut rates with persistent inflation.
AMEX:SPYShort
by PrepForProfit
EURO - Price can reach support level and then bounce to $1.0930Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 When price entered to rising channel, it first fell to support area, which is located at $1.0855 level. After this, Euro bounced and made upward impulse to resistance line of channel, which coincided with resistance level. Next, price corrected to support line, and then Euro in a short time rose higher than $1.0965 level. But soon, price around down and started to decline to support line of channel, thereby breaking $1.0965 level again. Also recently, Euro exited from channel and fell lower, so, the possibly price can reach support level and then bounce up to $1.0930 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
GBPJPY price 8H channel retesting?GBPJPY After a month-long battle out/ above the 📈4H/ 8H channel, the price came back to retest it last week at around 149.000 level. It accumulated around there for a bit and now it looks BULLISH, probably re-accumulating again, before taking off. Historically I'm aware that GBPJPY likes to respect 0.618-0.786 FIB retracement areas a lot. 👍And I'm couting on the same happening here this time as well. I'll keeping my eyes on the SPRING/ weekend break inefficiency Area for price action, and a potential ⬆️LONG entry. 🚨Setting my alerts at around 149.900, and we'll take it from there. Have a great rest of the week.
Long
by GibsonTrades
AUD/CHF 🇦🇺 🇨🇭 to come back into the channel.+0.83% on AUD/CHF 🇦🇺 🇨🇭. The price was rejected by the ... level. As the pair is lying above the clouds and is about to from a golden cross there is a possibility of a slight rise , however according to the high RSI overbought we shall expect the decline back to the channel. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section.
Short
by Alexander_Harford
3