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Zigzag

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! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
112
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!
Long
by RLinda
8
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.
Long
by Weshareio
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!
Long
by RLinda
18
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!
OANDA:XAUUSD
by RLinda
24
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!
Long
by RLinda
8
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"!
BITSTAMP:BTCUSDShort
by UnknownUnicorn2537518
167
GOLD → Prerequisites that the price will continue to fall OANDA:XAUUSD finally breaks the medium-term support line and updates the low to 1885. The trading week closes near the local support level, which indicates that the market is ready to continue the trend This week ended positively for the dollar, the metallo reacted as expected. There are several important news items to watch out for in the coming week: 1) Building Permits 2) SP Global US Services PMI 3) Core Durable Goods Orders 4) Initial Jobless Claims 5) Fed Chair Powell Speaks There is talk within the FED that the market is not ready to weaken yet as inflation is still at a high level, but again, rumours and facts affect the market in categorically different ways From a technical analysis point of view the market is preparing to decline further as the global upward price channel was broken earlier, price breaks strong support and also breaks MA200, at the end of last trading session price closes very close to the risk zone, breaking through which will form a downward momentum. Support levels: 1885 Resistance levels: 1902.9 The market is weak, the dollar index continues to strengthen actively, which may continue to negatively affect gold. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
19
BTCUSD → An impulse that scares the buyer. What's next? BITSTAMP:BTCUSD is breaking the 26700 support and MA-200 forming a strong bearish momentum, but at the same time the price is not breaking the bullish channel. In terms of global outlook, the price is still in an uptrend Pay attention to the weekly chart on the left. Price is forming momentum and a strong distributive move towards the strong support at 25000. The level is important for us, has a double confirmation, the first confirmation was from the sellers side, the second from the buyer side. I think that another retest, and especially after the distributive movement, may give us either a reversal or at least a strong bullish reaction. Traders are waiting for fundamental confirmation for cryptocurrency action. At the moment it is the approval from the SEC of BTC-ETF futures applications. This will give a new breath to the market. Most likely, this movement within the uptrend may be triggered for the sake of buying the asset at a lower price before further strong growth The moving averages are acting as resistance. The market is in a correction phase. Support levels: 25000, 24819 Resistance levels: 26707, 28474, 30575 The market is in the phase of a bullish trend, a correction is forming within the upward channel on the garfish, which may end near support Regards R. Linda!
BITSTAMP:BTCUSD
by RLinda
24
Bitcoin is starting to crash to 20,330 USD! (emergency) The major uptrend from 15500 to 32000 is over, and the bears are stepping in! I expect 20330 to be hit in the next few weeks, so make sure you are prepared for it! We can clearly see that the major trendline / parallel channel is breaking down! The price is below the trendline, and what's more, if we take a look at altcoins such as ETH, it confirms this analysis! We have finished the first cycle (1) of a huge (1)(2)(3)(4)(5) impulse wave. Now we are in cycle (2), which will send the price of Bitcoin to 20330, according to my technical analysis. Why 20330? We still have the unfilled CME GAP, which you know because I have been talking about it for more than a few months. Also, we have the 0.618 FIB retracement in confluence. 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. From the Elliott Wave perspective, waves marked as (1) have usually deeper retracements, such as 0.618, 0.764, or almost 1:1. It also tends to fill previous gaps because breakaway gaps usually appear when wave (3) starts. It took 234 days for wave (1) to be completed. Compared to the stock market or gold, Bitcoin is struggling this year. Gains were overall pretty low. Bitcoin has been going sideways for a long time, and the direction is unclear. The volatility index on Bitcoin is at extreme lows, so a big move is expected! A big pump at the current price doesn't make too much sense. But a big dump is definitely on the table. Let me know what you think about BTC in the comment section! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
243
🥇GOLD → The chart gives a set-up to sell Gold breaks through support and makes a momentum move and updates the global low to 1889. It is likely that the market may continue to fall TA on the high timeframe: 1) The nearest point from which we can expect to buy is 1902.87, a false breakout can be formed but it will take a lot of time TA on the low timeframe: 1) Price breaks the support of the wedge, forming a correction 2) The correction may confirm the bearish market sentiment 3) The decline may continue from 1896.45 4) In the long term, there is a chance that price could fall to 1881. 5) The price needs to strengthen to 1903 to expect a rise Key support📉: 1891, 1881 Key resistance📈: 1896, 1903
OANDA:XAUUSDShort
by AndeWave
19
GOLD → The bears are taking the gold to the den OANDA:XAUUSD amid numerous resistance retests is not yet able to break it. Fundamental data is still on the side of the dollar. The gold price continues to fall and update the lows The price bounces off the channel resistance and falls, testing 1890. A false breakout is formed against the mentioned support and the price starts a local rebound. Most likely, gold may test 1900 in the near future before falling further. There is still a strong bearish trend in the market. Yesterday's fundamental data is positive for USD. As the dollar index strengthens, we see the gold price falling. In the medium term, we should expect the metal price to continue falling. Support levels: 1890 Resistance levels: 1900 I expect a retest of the resistance area before a further fall. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
ETHUSDT → Retest of MA200 and trend supportBINANCE:ETHUSDT is testing a strong support area in the correction phase amid a bullish global trend. Bitcoin is falling and dragging the whole market with it The price of Efirium is testing the support of the ascending triangle - this set-up is now global. At the same time, the price is testing the MA-200 (daily), which supports the trend. In our case, if this retest turns out to be false and the price forms a false breakout and is able to consolidate above the MA-200 and above the 1800 level, then the market may switch to a bullish direction again. In this case, the scenario will start to develop, which includes price growth to 2020 and in the medium term to 2457. While bitcoin is dragging the whole market down, it will be hard for altcoins to break out upwards. At the moment, the moving averages are clamping down on the price, with the coin trading in a narrow range. Support levels: 1800, MA200 Resistance levels: 1872, MA50, 1900 In priority I am waiting for a false breakdown and continuation of the ascending triangle formation. Regards R. Linda!
Long
by RLinda
9
💱EURCAD - Ascending triangle EURCAD continues its bullish trend. The price is testing the resistance on the background of upward movement. There is a chance for a quick breakout TA on the high timeframe: 1) Accumulation is formed near the level of 1.47728. At the next retest, the price may break the resistance 2) The liquidity area of interest for the price is above 1.48560. TA on the low timeframe: 1) A triangle is forming 2) Price bounces off the support on the background of a bullish trend 3) A retest of resistance is forming, increasing the chance for a breakout Key resistance📈: 1.47600, 1.4796 Key support📉: 1.4700, 1.4654
Long
by AndeWave
4
CADCHF → Downtrend triangle on the background of a bearish trendFX:CADCHF under trend pressure is forming a setup to continue the trend and update the global lows. The currency pair is in the bearish phase. The price continues to decline and test the strong limit support line at 0.64990. A descending triangle pattern is forming on the chart, which can be interpreted as pressure from dynamic sellers on limit buyers at 0.64990. The price is within the descending price channel, a retest of the trend resistance each time sends the price to the indicated support - a strong signal for a breakout Moving averages act as resistance Support levels: 0.64990 Resistance levels: trend boundary, 0.65450 I expect a bounce from resistance, which will lead the price to another retest of support, which may help the price to breakout. Regards R. Linda!
Short
by RLinda
13
Bitcoin - Secret parallel channel! (Important update) Bitcoin is bullish, and I expect its price to reach levels above $30,500 in the short term! That's because we have this secret parallel channel that no one talks about. It's important to take profit on your intraday trades at the top of the parallel channel! I believe Bitcoin can rise much more, to 32k, until the end of the month. But of course, volatility on Bitcoin is currently extremely low, so this can take some time. I recommend buying XRP for the long term; the current price is very good. Check out my previous analysis on XRP in the related section down below. But be really careful in September, because this is statistically the worst-performing month for Bitcoin. Usually, Bitcoin goes down during this period of time. But after that, we have October and November, and these months are, on the other side, extremely bullish! From the Elliott Wave perspective, Bitcoin has completed the complex correction double three (WXY). We can definitely start a new impulse wave from here, but it can also transform into a triple-three pattern (WXYXZ). 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. This was a quick update on BTC. Some altcoins are pumping heavily, but these pumps are most likely a game of whales. To catch these coins, you have to sit on the right coins before it happens. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
73
GOLD → The Bears continue to dominate. Ahead of CRS, RSOANDA:XAUUSD continues to update the lows. The price bounces from the local liquidity area of 1903 and forms a correction, making another attempt to retest the trend resistance The upper boundary of the descending channel does not let the price yet, most likely targets below the most important. Reports released today are: 1) Core Retail Sales (no data, the previous ones were bearish) 2) Retail Sales (expected to strengthen) After retesting the support, it is likely that the price may head up to retest the trend resistance, there is a possibility that the price may break the line and start to form a flat (consolidation) before moving further to one side or the other. A global bearish trend dominates the market. I still expect a retest of 1900 as a priority (a false breakout is possible) Moving averages act as resistance Support levels: 1905, 1903, 1900 Resistance levels: 1908.3, 1912.7 In priority, I expect the price to fall from the channel resistance to 1900 with the subsequent rebound and the formation of a flat on the background of the bear market. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
23
OCEANUSDT → A break of resistance will give a 30% increaseBINANCE:OCEANUSDT forms a bottom at 0.1208 and forms a false breakout. After formation of the formation, the price rallies and goes into consolidation in the triangle format After retesting the triangle resistance on July 22, the price forms a small correction after which the price forms a pre-breakout consolidation near the upper boundary of the formation. Altcoins have been showing positive dynamics lately and most likely the breakout of resistance at OCEAN will give excellent potential. While bitcoin is forming a correction and forming a local support area, the altcoin price is updating the local high and breaking the resistance. The price is testing MA-50 and may soon test MA-200 as resistance Support levels: 0.3335 Resistance levels: 0.3605 I expect the final breakout of the triangle resistance with the subsequent strengthening of the price to these levels. Regards R. Linda!
OLong
by RLinda
10
GOLD → The price may form a Flat. What does that mean? OANDA:XAUUSD is in a local bearish trend. Within the current trend, the price is testing resistance. Two scenarios are possible: either a breakout or a rebound. What to expect? The price tests the trend resistance and goes beyond it. If the price can consolidate above the level of 1914 after the channel breakout, the price may form a potential upside to 1924.8 But again, the price may form a false break of the trend resistance, in this case the price return to the channel boundaries will confirm the bearish potential, the price will head down to break 1912.7 and continue its fall to 1900. Break of resistance and growth to 1924 may form consolidation or flat 1924.8 - 1912. If the upper boundary of the future flat is retested, we can look for sell signals Support levels: 1912 Resistance levels: 1915, 1924.8 I expect one of the scenarios to develop, it is important for us to wait for confirmation. Most likely a flat formation may follow and in this case the price will initially head towards 1924.8. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
24
XRP - Time to buy for a 500% profit! (now) XRP is currently retesting a major trendline from 2022, and this retest is exactly where you want to buy this coin! This trendline is also part of an ascending parallel channel on the daily chart, which strengthens the support. What's more, we have had a strong 0.618 FIB retracement on the LOG scale. We hit this level almost to the dollar, so if you bought at this level, congratulations! I share my trades transparently and post trade setups privately. We also need to take a look at the volume indicator. Clearly, since the downtrend finished in 2022, the bullish volume is overwhelming. That's definitely positive, and XRP could reach much higher levels in the next few weeks and months! Now the most important question is: what is the profit target, and where do I take it? To answer this question, we need to take a look at the market caps of XRP and BTC. The current market cap of XRP is $33,134,349,311 and that of BTC is $574,121,632,744. The market capitalization of BTC is 17x higher than XRP! This means that XRP could theoretically make a 1500% profit and still be number 2. But be optimistic and stay with a 500% profit because it's possible that XRP will go through a 1-year consolidation period before another huge pump. So you want to use your money on something else if it happens. From the Elliott Wave perspective, this is really a strong setup. We have a nest (1-2-1-2), which is a bullish base. Now we are waiting for the 3rd wave to finish. XRP won the SEC case recently, and that caused a 100% pump in a few days. New developments are good and positive, so I don't see any reason why XRP should go down. We will take a look at all profit targets from a technical perspective in the next update on this post tomorrow. Thanks for reading! I hope you learn something new, and let me know your thoughts in the comment section!
Long
by UnknownUnicorn2537518
115