Bitcoin - Time to buy again!BINANCE:BTCUSDT
Bitcoin price is in the ascending Triangle with means the bitcoin price can react to this situation and breaks the triangle and will go up. and the most important resistance for Btc is currently 61k if the price breaks this resistance, Bitcoin can reach the top of the megaphone.
Analysis Summary:
Current Situation:
Bitcoin is struggling to break the important $61,000 level. This level is crucial for further upward movement.
Potential Scenarios:
If Bitcoin successfully surpasses the $61,000 level, it could indicate a bullish trend continuation.
Failure to break this level might lead to a consolidation phase or a potential bearish reversal, especially if it falls below the support level at $51K.
Conclusion:
The chart combines multiple technical analysis tools to provide a comprehensive view of Bitcoin’s potential price movements. Traders will be watching the $61,000 level closely, as breaking it could signal a strong bullish trend, while failing to do so might lead to a bearish scenario.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
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SILVER.. at his major supporting area? dancing at LEVEL.. #SILVER... market didnot clear his supporting area that was discussed my last couple of ideas regarding silver.
keep close that area guys it can change the overall scnerio of silver ..
if market hold it then only that case you can expect a buying ride from here otherwise not at all.
stay sharp and dont be lazy here..
good luck
trade wisely
9/12 Daily Recap, Outlook, and Trading PlanRecap
After a major 110 point sell at the start of September, last Thursday saw the formal setup for a relief rally leg. This setup followed through with a squeeze to start yesterday, leading to a grinding up relief rally leg that made it to mid 4540s so far. ES is now two green days in a row and ~60 points off last Thursdays low
Market Gauge
🟢 Neutral to Bullish
The Markets Overnight
🌏 Asia: Mixed
🌍 Europe: Down
🌎 US Index Futures: Down
🛢 Crude Oil: Up
💵 Dollar: Up
🧐 Yields: Down slightly
🔮 Crypto: Up strongly
World News
G20 ends with very little progress or policy change aside from pledge on renewables.
Key Structures
The large, triangle that has formed with the 4450 level being support and resistance being 4572 is now the core pattern for September. Everything between 4450-4572 is a broad chop range/play ground for ES. This could easily fill out all month. These patterns have a mild 60% upward resolution bias.
Support Levels
Supports for the ES are at: 4504, 4498-96 (major), 4486, 4473 (major), 4463-66, 4449 (major), 4434, 4424, 4418 (major), 4395-4400 (major), 4386, 4367, 4356 (major), 4337 (major), 4316, 4307, 4285-90 (major).
Resistance Levels
Resistance levels are: 4516, 4524 (major), 4528, 4535 (major), 4545, 4554-56 (major), 4563, 4572-74 (major), 4580, 4590, 4595 (major), 4602, 4608, 4620-22, 4627 (major), 4633, 4644 (major).
Trading Plan
The bull case is in play as long as the 4498-96 support holds. If it holds, the relief rally remains in play, with a return to 4524, perhaps a dip, then push up the levels to 4535, then probably 4554-56. The bear case begins on the fail of 4496. If we return back down there and there is no demand, the move would be to short 4483 for a move down the levels.
Wrap Up
In summary, September trading is proving to be as difficult, choppy, and volatile as expected. The key is not to predict where the price will go, but to take it level to level. As long as 4496-98 holds, we can expect to "fill out" the yellow triangle, with a pop to 4524, perhaps one more dip, then a push to 4535, 4554-56. However, should 4496 fail, we start down direct.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decisions.
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BUY EURUSDGood day dear investors and fellow traders.
Fundamentally - technical analysis of the currency pair #EURUSD
"The ECB is planning a new intervention, prepares us for the reduction of the single currency, but is there any ammo?"
The single European currency continued to decline, currently has departed from its high at 360 points, having one of the three main lines of support. All the fault proved to be the head of the ECB who promised in the event of the need to increase incentives. However, if there is such an opportunity for Mr. Draghi? Recall that the last time, when the Central Bank went to extra incentives (reduced deposit rate) euro only strengthened.
What can offer the market the ECB?
- The increase in the program of quantitative easing (QE), may increase the monthly purchases of bonds and ABS / extend the life of the QE program.
This program creates several risks such as:
1) Compression of liquidity on bond markets and shaky stability.
2) Reducing the rate of bond creates negative consequences for the banking sector.
3) Too long program of quantitative easing may be problematic to make out of it.
- Reduction of the deposit rate, we have observed this mistake last time, so the chance that the ECB will do it again is extremely unlikely.
If Mario Draghi will make this mistake, the euro once again waiting for takeoff, as market participants expect a large-scale action by the ECB.
- Resumption of LTRO program, that's the idea, while reducing the deposit rate is the ideal solution for the ECB. Thus Mario Draghi would distribute loans in the euro area and not be afraid that the banks will take the Lombard loans and take the money from the ECB.
We believe that this strategy would be the most best as a risk that the banks will no longer invest in stocks, too high volatility and instability. Investing in government bonds is not eliminated, but again it is money napryavyatsya weak economy periphery, so that it is necessary the ECB. And many will want to lend to the real sector, because the selection has not left much.
We remain bulls for the single currency and despite the fact that we prefer to purchase, we always warn you about turns. Current stabilization of an important psychological mark of the euro gives strength for further growth. speak and fundamental factors in favor of growth:
- A strong balance of payments.
- A large trade surplus.
- The inflow of portfolio investment.
- Reduction of net speculative positions on the euro.
Purchases will be made on 3 levels, the stop is not provided due to the small volumes of purchases and the Japanese yen.
Technical comment: The single European currency continues to trade in an upward range on the daily chart and konsalidatsionnom range on the weekly chart. The main resistance is located at the bottom before rising channel.
Shopping is recommended from: 1.1000 / 1.1120
Sales should be considered from: 1.1400
CFTC: These continue to please the bulls on the euro, this time traders reduced their positions before - 48.2 k, which is a reflection of the positive mood of market participants to the single European currency.
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