Mrketwizard

Mrketwizard

Our Current Situation Trading in a consolidating range can be really dangerous, especially if your emotions get the better of you (we have all been there). Hopefully, you have been careful with the risk. Trading a market in consolidation is rarely recommended; however, confidence in our trades should always be the most important factor before entering a position....

Mrketwizard

entry and stop-loss. as we all know. The golden pocket (0.618) often play out to become the pullback area. which is why I enter a long there. the stop-loss was placed under 0.886 because according to fibonacci this is a level where a reversal of the trend gets executed. Target the 70k area is an area of resistance. I am playing it safe so I will exit my...

Mrketwizard

we broke the first lower high, we are however still in a descenting triangle. We are now at a critical point where we need to break the Lower Highs. If we do so we might go to 75k before the election. I expect a pullback from that point of resistance (i will be watching Market cipher B closely at these levels. Following the wind...

Mrketwizard

The daily and 12-hour and daily charts are forming a descending triangle, with lower highs and lower lows. Within this descending triangle, there is also a falling wedge that is expected to test the trendline resistance by October 24. If the wedge breaks above the resistance, the target will be the descending triangle's upper trendline. The final breakout...

Mrketwizard

WE CLOSED ABOVE 65K ON THE DAILY, AS RESULT WE ARE NOW CHANGING THE CHARACTER; FROM DOWNTREND TO UPTREND. tHIS IS BULLISH LONG-TERM. Based on the open interest (OI) it seems that we are inn the belief zone, as result people will be looking to accumulate on the dips. If we use the fibs from the swing low to swing high we can see the accumulation areas. These...

Mrketwizard

Bitcoin is currently trading around $67,367.86, experiencing a slight pullback after a recent attempt to break above a significant descending trendline. The market sentiment is cautiously optimistic, but key technical indicators and price levels must be closely monitored to confirm any potential trend direction. 1. Major Resistance (ATH Region): Zone:...

Mrketwizard

Market Trend The current market trend analysis shows mixed signals across different indicators. While we are challenging the 20-day MA on the daily timeframe, the distance from the 50-day and 100-day EMA confirms the persistence of a downtrend. The Average RSI touching the 50 level, yet staying below it, suggests that the RSI is attempting a reversal but has not...