XAUUSD, correction to 1932 Gold may correct upwards to 1932 before potentially declining further to 1920 and possibly to 1914.
Zigzag
GBPJPY, Bulla ready to retest 186.744The price movement fulfilled my last projection.
The GBPJPY bulls are ready to challenge the 186.744 price after a pull back from the last time it reached this price on 21st August, 2023.
The price is adequately supported at 184.838 and the EMA-50 on the 4hr time frame.
Let us see how it unfolds at the top.
EURUSD, to decline further The price movement fulfilled my previous idea publication.
What do I expect next??
EURUSD is expected to potentially fulfill a Fibonacci retracement to the 1.07658 resistance level before declining further to the next significant support level at 1.06375.
Bitcoin - The next crash is coming! But first, bullish action.
The next crash is coming for the price of Bitcoin, but first we need to correct the recent downtrend! This correction can be pretty significant up to the 0.618 FIB retracement, which is at 27,609. You probably want to set your limit orders to short BTC at this level!
After a bullish correction, I expect another huge crash, kindly to 20k. But of course we are not going to go down in a straight line; there will be a lot of bullish corrections, so you need to be clever on when to short Bitcoin.
Resistance 2 (start of the GAP + 0.618 FIB) is at 27609, and Resistance 1 (end of the GAP + 0.382 FIB) is at 26406. I see only these 2 levels where the bears should step in again!
Above the current price, we have an unfilled CME gap exactly between resistance 1 and resistance 2. These gaps tend to be filled, but of course, it's not mandatory.
Bitcoin spiked significantly last week on the GBTC news; a lot of people were really optimistic and bought the pump, but a huge crash followed. It's similar to the XRP news: XRP pumped by 100% and then went down below the starting point of the pump.
From the Elliott Wave perspective on the chart, we can see a strong impulse wave, which is a sign of weakness for the price. The expectation is that we need to make an ABC bullish correction before continuing to the downside in the downtrend.
This is my current outlook on BTC; I am still bearish, but we need to open short at higher prices!
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
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XAUUSD 4H ForecastWe can expect to sell continuation on GOLD, we are in the last leg of the correction pattern. We are in a wave C of a Y leg. A Zig-Zag is a simple correction where waves A and C are equal.
GOLD → XAU breaks H1 support. False breakout on D1OANDA:XAUUSD is forming a false breakout of the resistance of the global nisode channel. On the local timeframe the price broke the trend support. Can this be considered as signals?
Yesterday I talked about potentially important levels for us. Today, price is breaking the support area (local). The reaction to this is enough to break uptrending price channel support on H1. Pay attention to the D1 timeframe. Price is forming a false breakout of the DOWN price channel resistance against the background of the DOWN trend. If the pattern is confirmed (it will be a consolidation of the price below 1932), we will see the beginning of another strong fall in the near future. I talked about the potential of such a fall a few days ago. The target of such a movement could be the area of 1900, 1850 and 1800).
Support levels: 1925, 1913
Resistance levels: 1932
The price is forming several sell signals. We need to wait for the confirmation of a bearish set-up to open trades.
Regards R. Linda!
GBPJPY → Bull market continues to push price after shakeout FX:GBPJPY continues to form a bullish trend. A flat is forming within the ascending price channel and another retest of support leads to a bullish impulse
Earlier on the chart we see a strong spike down. A false break of support forms a shakeout in the market, a huge amount of volume is involved and in tandem with unstable fundamentals for the Japanese Yen, it predictably affects the pricing of currency pairs.
For us the key role within the flat plays resistance 184.55 and support 183.7. Break of one of the zones with the subsequent consolidation of the price above the line will form the potential for movement in one direction or another. I am expecting growth from 184.55 as a priority. The medium-term target for us will be the resistance area of 186.765. The price is also testing MA-50 and an impulse will be formed in case of breakout.
Support levels: 183.700
Resistance levels: 184.55
I expect the continuation of growth in priority. The price can also test the support with a false breakout, but the medium-term potential remains the same.
Regards R. Linda!
Bitcoin - Bull trap of the year! (fake pump)
Bitcoin pumped significantly, but it's definitely a bull trap, so do not fall for it! We can see that the chart is printing a huge head and shoulders pattern, which is a very bearish sign.
This pattern is not confirmed yet as the neckline is holding, but the price is below the major blue trendline, which increases the probability of a breakdown!
The trend is not bullish anymore, and this pump is a great opportunity to short Bitcoin.
Where to take profit or buy bitcoin? I strongly recommend the 0.618 FIB retracement in confluence with the CME unfilled GAP. This is an extremely strong support, and we should see the start of a new bull market or at least a significant bounce from it!
I don't know about you, but I am bearish! Let me know in the comment section: are you bullish or bearish? I want to know your opinion!
Altcoins don't look good at all. I can see a huge crash on DOGE (70%). This indicates to me that Bitcoin is still not ready for a bull market.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Thank you, and for more ideas, hit "Like" and "Follow"!
ETHUSD → Retest of support for decline before further growth BITSTAMP:ETHUSD breaks the global trend support. The breakout is not false. Local support at 1631 is forming on the chart. After a small correction there are prerequisites for further decline.
A wedge is formed on the global timeframe, the price bounces off the resistance and in the format of correction is heading towards the range support. Before the global growth the market is separated by the global descending line (red dotted line)
In the medium term, I expect a rebound from the support of the wedge with further retest of the indicated resistance line. If this area is broken through, the market will get a new potential.
Locally the price is in flat, a break of 1631 will lead the price to fall to the range support and the key liquidity area of 1500. A strong bullish reaction is likely to follow from this area, which could lead the market to a recovery. The moving averages are signaling a breakout of support.
Resistance levels: 1696, 1750
Support levels: 1631, 1501
I expect a breakout of 1631 and reaching 1501 before a further rise to 2021.
Regards R. Linda!
UNFIUSDT → Wedge breakout and flat breakout BINANCE:UNFIUSDT is forming bullish signals to open a new potential while bitcoin is in a strong bearish correction.
On the chart we see the formation of a downtrend. The global consolidation and the bottom retest speak for themselves about the market situation.
A few days ago, the price forms a retest of the resistance of the specified figure and breaks it, forming an impulse, but with no result at the retest of 4.55. Consolidation and subsequent retest of the specified boundary is formed. What happened? The price broke the resistance of the specified range. Our task is to wait for the price to consolidate above 4.55 to form a bullish position. If the buyers hold the specified area, the price may reach the level of 6.850 and even 8.375 in the medium term.
Support levels: 3.322, 4.55
Resistance levels: 5.45, 6.85
I expect consolidation above 4.55 with further growth to the above targets.
Regards R. Linda!
Bitcoin - Be aware of the final dump! (triangle)
This is a quick update on Bitcoin's short-term price action! Bitcoin is moving in 3 wave structures, which indicates a triangular formation that usually breaks in the direction of the main trend!
I am bearish on BTC until we hit my price target of 24800, which is a significant swing high from June. The triangle suggests it as well.
I expect a final impulsive wave to the downside before a pump back to 27,000. I think this break of the triangle will be only a fakeout to take liquidity, so make sure you take profits and do not stay in the short position for a long time!
Now the question is, will we see another bounce from the ascending trendline of the symmetrical triangle? It's really possible because, from the Elliott Wave perspective, triangles have 5-waves in them, as ABCDE. Now Bitcoin is in the D wave. But sometimes triangles are shorter, and we could go down sooner rather than later.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Overall, you probably know that I expect 21k to be hit later this year and potentially 15k next year, so do not buy any Bitcoins at the current price!
Thank you, and for more ideas, hit "Like" and "Follow"!
GBPUSD → The currency pair will form a correction before the falFX:GBPUSD breaks the trend support and is in the red zone, but the price may form a false breakdown and counter-trend correction before further fall
On the chart we see a global uptrend within the price channel, but at the moment of strengthening of the dollar, the currency pair gbpusd breaks the support of the trend and is in the red zone.
As part of the breakout and strong impulse, the price is testing the flat support and may form a false breakdown of 1.26065, followed by local growth either to 1.26800 or to the previously broken channel line (counter-trend correction)
Most likely, the dollar will continue to strengthen and thus weaken the pound, which will affect the chart. In the medium term, we may see a fall to the above support lines
Resistance levels: 1.26065, 1.26800
Support levels: 1.25600, 1.24868
I expect the formation of upward correction before the further fall of the price.
Regards R. Linda!
Bitcoin - Plan for the next 30 days! (This is going to happen)
Bitcoin is moving in this huge parallel channel no one talks about, and the price is respecting it pretty well, including the middle trendline!
The current price of Bitcoin is around 25900 USD, which is very near its bottom in November 2022 at 16000 USDT. I expect this low to be followed by a huge crash, so make sure you are prepared for it. Bitcoin has been very weak compared to other assets this year.
In September, I expect Bitcoin to reach the strong horizontal line at 24820 and potentially take liquidity below it. There are a lot of stop-loss orders from traders, which is a magnet for whales.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
1 week ago, we had a huge red dildo with a 14% decline. To me, this is an indication that the third wave is in progress in my Elliott Wave count. Wave 5 should go below wave 3 exactly as I have drawn it on the chart! But do not expect any big crashes in the short term. A swing failure pattern (SFP) is something that has a higher probability. Basically, you can buy/long the fifth wave.
This is my current plan for Bitcoin for the next 30 days. Of course, this is my main scenario, but I also have an alternate scenario, which I may post next time, but we will see!
Let me know in the comment section if you are shorting Bitcoin, but I recommend placing a buy order around 24800 for a quick bounce back to 26800!
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Ethereum - 76% crash to 389 USD! (must see, bear flag)
My analysis shows an impressive crash is prepared on ETH after 427 days of consolidation in this bear flag on the weekly chart! It was a long time, and ETH has been going pretty much sideways. Now we have to expect huge volatility!
The trendline of the bear flag is clearly breaking down with an ABC Elliott wave corrective pattern, which strengthens the bearish bias. It also looks like a wedge, but a wedge should have a 5-wave structure (a leading diagonal Elliott wave pattern). So this is a bearish pattern, and a 76% crash is absolutely coming in the next few months.
You probably don't have too much time to think about what to do with your investments, but consider if you can handle a 76% crash on your spot or futures holdings. My recommendation is to sell, as it's too risky to hold it, and buying cheap ether later in 2024 is definitely juicy!
Now what is the target, and where will the bottom be on ETH? We have a strong confluence at 389 USD and 387 USD because this is the Fibonacci 0.618 level of the previous bull market on the LOG scale and also because this is a 1:1 Fibonacci extension from wave (A) -> wave (B) of the current bear market! What's more, we have a first point of control over the volume profile, which you can see on the left side of the chart.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
As you know from my previous ideas, I expect Bitcoin to hit 10k next year. What would be really weird if BTC dropped and ETH rose? So 10k on BTC and 389 on ETH are my targets.
I also checked more altcoins, such as DOGE, SHIBA, XRP, and LTC, and none of them looked bullish. The best is to stay in USD.
Write a comment with your opinion, because I look forward to it!
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USDJPY → Double top on the background of the uptrend FX:USDJPY continues to form an ascending price channel. After breaking one of the resistance lines, the price is forming a pattern that could weaken the price during the DXY stop.
On the chart, I have marked two levels that are quite close to each other. Pay attention to the levels 145.06 and 144.9. The price forms a correction after the formation of a double top reversal pattern, to realize the pattern the price needs to wait for confirmation (breakout of the base of the pattern).
If the price returns above the level of 145.06 and forms consolidation of the price above the level, then in the short term the currency pair may update the local maximum and test the trend resistance
If the price breaks the support at 144.9 and forms consolidation below the level, we will see a fall to the support zone.
Resistance levels: 145.06, 145.515
Support levels: 144.9, 144.59
Consolidation near these levels in the short term will determine the future direction, our task is to follow the price reaction to these key points.
Regards R. Linda!
XAUUSD ForecastGold update, previously on the Monthly timeframe I anticipated a slight drop(correction). And it's still an ongoing bearish trend, On the Daily timeframe the bearish bias is still valid maybe it will be short-lived.
We are in a double correction pattern where all of the waves are corrective patterns. The wave (Y) is still on the first leg of the sub-pattern, a Zig-Zag correction pattern. I expect a further drop to break underneath the (W) leg low.
NZDUSD ForecastPrice Is most likely to trade bullish on the NZDUSD for the upcoming weeks to months, it's clear we completed the corrective phase of the double correction pattern.
A double correction/ combo is a type of corrective pattern where all of the sub-waves are correction patterns as well it can be any corrective pattern except a triangle pattern for wave (W).
We are not gonna trade in the impulse phase either as a wave 3 or C but that doesn't change the fact that we are trading bullish. The wave (Y) completion correlates well with the 61.8 Fibonacci retracement level golden zone as well as the parallel channel line which contained the entire corrective move.
An important thing to note is that waves (W) and (Y) are often equal similar to a zig-zag correction pattern the idea behind the structure is relatively the same the only thing different is the sub-waves whereas on a zigzag its an impulse-correction-impulse on a double correction its correction-correction-correction.
DXY ForecastThe DXY has an inverse correlation with the EURUSD it's wise to think DXY will be bullish trading in a corrective phase currently. We will be on the lookout of the Fibonacci retracement golden zones for correction completion.
USDCHF → The currency pair may break through resistance FX:USDCHF continues to strengthen within the ascending triangle. The price is retesting the trend resistance. What can happen?
As we can see on the chart on the bottom left, the currency pair is forming a consolidation relative to a strong resistance area. The mentioned accumulation, when moving to the phase of implementation is able to change the direction of the trend, in this case, the global downtrend will begin to change its direction following the dollar index.
DXY breaks the key resistance and on the basis of fundamental factors begins the implementation of the strengthening strategy.
The USDCHF currency pair may go to 0.89088 if the resistance of the descending channel is broken.
Support levels: 0.87779
Resistance levels: 0.88133, 0.88250
I expect a small bounce from resistance and further retest of the area, which may break the resistance and trigger a rise in the market.
Regards R. Linda!
Sollana Hunting Support at 18-18.50Solana is coming down, but with three waves so far, so can be a contra-trend move with nice interesting support right around $18.00 where we see the 61.8% Fib and also the equality level fo wave C=A. There is also a former swing low around 18.50, that can try to help price to stabilize a bit. $solana #elliottwave #crypto
GOLD → Price forms a flat while DXY consolidates OANDA:XAUUSD is stopping. Yesterday I said that we should expect a flat formation in the near future. We are seeing confirmation. A break of trend resistance sends the price to retest 1900, after which a range of 1900 - 1885 is formed
Note the dollar chart below. Gold is highly dependent on the DXY price. USD breaks the 103 level but does not form a proper momentum but forms a correction to 103. If the bulls hold this level and the upside begins, gold will react accordingly. But now there is a high chance that DXY will make a false breakout of this level and head downwards. In this case, gold will break the 1900 level, which it is now heading to retest and may form an impulse to 1912.25.
Globally, I don't see strong preconditions for a market reversal and growth to 2000. I expect a correction or growth to 1912, maybe even to 1925, but in the medium term - a fall to 1880-1850.
Support levels: 1890, 1893, 1885
Resistance levels: 1900
I expect a retest of 1900, if the dollar starts to fall, gold will break the level and head towards 1912, if the dollar from 103 starts to strengthen, we should wait for the fall of XAU.
Regards R. Linda!
CADJPY → Ascending triangle. Waiting for a breakthrough FX:CADJPY is forming a local upward trend. The currency pair is gaining resistance at 108.12 and forming an ascending triangle, most likely we will see some development in the near future.
The currencies are weakening on the background of fundamental and geopolitical nuances, but the currency pair is getting stronger, overcoming one of the key levels at 107.6. Globally, CADJPY is in a bullish trend, but for the last few weeks the price has been stopping and forming a flat. Within the flat we see prerequisites for further growth.
Earlier, the SMAs were tested, which now act as support.
Resistance levels: 108.12 109.47
Support levels: 107.6, pattern support
According to the mentioned prerequisites, I expect a retest of the figure resistance with further breakout and growth to the mentioned resistance.
Regards R. Linda!
Bitcoin - will crash to 10,000! (Proof here)
10k in April 2024? This is not sci-fi, but a real scenario that is probably going to happen! Make sure you are ready for what is coming. In this analysis, I will tell you all of the reasons.
Bitcoin is extremely weak compared to the stock market or gold. While gold almost hit an all-time high, Bitcoin is near its low from November 2022, which is 16K. The current price of Bitcoin is 26k, and the previous all-time high was 69k. Compared to gold, Bitcoin should be worth 60k at this moment, but it's not.
A few days ago, we had a massive sell-off, not only on Bitcoin but on all altcoins. The charts on the majority of altcoins look absolutely bearish. We have entered a new bear market. No coin from the high-cap category looks bullish, to be honest.
From a technical perspective, the price is now below the 200-week simple moving average and also below the 20-month simple moving average. The bulls are not strong enough to sustain the uptrend, so it looks like the bears are in full control again, and it can be really nasty. I can see another 70% crash on DOGE and SHIBA.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
10k is definitely a strong support that should hold! I believe this will be the bottom on Bitcoin because we have the 0.618 FIB retracement and the neckline of the head and shoulders pattern from 2020.
On the chart, you can see my Elliott Wave count. Pretty much every Elliott Wave trader has bullish and bearish scenarios prepared. This is clearly my bearish scenario. Bear market 2022: impulse wave 12345; bull market 2023: triple three WXYXZ; bear market 2024: impulse wave. We can complete the ABC correction in April 2024.
Let me know in the comment section what you think about a crash to 10k! Are you prepared or all in?
Thank you, and for more ideas, hit "Like" and "Follow"!
