Get started

Analytics

DEFI has been hot again, how do things look on the COMP chart?Lets take a look at what the charts and indicators have to say. Structure and Price Action: **Symmetrical Triangle Formation**: The chart shows a clear symmetrical triangle, indicating a period of consolidation following a sharp upward movement. Symmetrical triangles are neutral patterns but typically resolve in the direction of the preceding trend, which is bullish in this case. **Downward Red Trendline**: The descending resistance line has formed, creating consistent lower highs. This indicates selling pressure at each attempt to move higher. **Ascending Support Line**: The upward green support line is holding, forming the triangle's lower boundary. This support has been tested multiple times and remains a key level. **Consolidation Zone**: Price is currently trading in a narrowing range, respecting both the upward and downward trendlines, signaling indecision and a pending breakout. Support and Resistance: **Immediate Resistance**: $110–$115 (aligned with the descending red trendline and near-term resistance). **Key Support Levels**: $100: Critical psychological and structural support. Below $100: Next key support around $90 (aligned with the green order block zone). Indicators: Moving Averages (EMA 20/50/100/200): Price is attempting to reclaim the **EMA 20** (~$107), which suggests cautious short-term bullish momentum. The **EMA 50** (~$108) is acting as resistance, which needs to be cleared for further upside. Long-term support sits at the **EMA 100/200** (~$106.5 and $85), providing structural strength if the price falls lower. Money Flow Index (MFI): MFI is at **34.94**, indicating the market is approaching oversold levels. This suggests the potential for a rebound if buyers step in. Stochastic RSI: The Stochastic RSI has turned upward from **oversold territory** and is crossing upward. This signals possible short-term bullish momentum. However, a failure to reclaim resistance could result in a false signal and continued downward movement. Volume: Recent volume during the triangle consolidation remains **low**, reflecting indecision among market participants. A breakout with strong volume will confirm the next directional move. Pattern Analysis: The **symmetrical triangle** pattern suggests a major move is imminent. Given the strong preceding uptrend, the pattern leans slightly bullish. However, failure to hold support at $100 could shift momentum downward. Probabilistic Outlook: Bullish Breakout (Primary Scenario): If price breaks above $110 (descending trendline resistance), it will signal a continuation of the prior uptrend. Key upside targets: **First Target**: $115–$120 **Second Target**: $125–$130 (previous highs) Bearish Breakdown (Alternate Scenario): If price breaks below $100, it invalidates the ascending support line and signals a bearish reversal. Key downside targets: **First Target**: $90 (order block zone) **Second Target**: $85–$80 (EMA 200 zone and additional order block). Key Signals to Watch: A breakout above the descending red trendline (~$110) = **Bullish confirmation**. A breakdown below $100 = **Bearish confirmation**. Volume spike during the breakout or breakdown will validate the move. Conclusion: The chart shows **neutral consolidation** within a symmetrical triangle. The slight bullish bias comes from the prior strong uptrend, but a breakdown below $100 would shift momentum bearish. A breakout above $110 with volume will confirm bullish continuation, while a break below $100 will target further downside. Monitor price action closely around these key levels.
COINBASE:COMPUSD
by EncryptShawn
Fundamental Market Analysis for November 19, 2024 USDJPYThe Japanese yen (JPY) rose against its US counterpart during Tuesday's Asian session, although it lacked bullish confidence amid uncertainty over the timing of the Bank of Japan's (BoJ) next interest rate hike. In addition to this, risk-on sentiment reflected in the overall positive tone in the equity markets may be contributing to the safe-haven yen's decline. That said, geopolitical risks and lower US Treasury yields could prevent a significant downside for the low-yielding yen. In addition, speculation that Japanese authorities may intervene to support the national currency may deter bears from aggressively betting on the yen. The focus will now shift to Japan's consumer inflation data and global PMIs due out later this week. Japan's Economy Minister Ryosei Akazawa said Tuesday that “it is crucial to raise wages for all generations with an economic package.” He also noted that he is “aiming for the cabinet to approve the economic package soon.” At the time of writing the analysis, the USD/JPY pair is consolidating on the latest round of declines just above the 154.10 level, having lost 0.36% on the day. Trade recommendation: Trade mainly with Sell orders from the current price level.
Short
by Fresh-Forexcast2004
Fundamental Market Analysis for October 18, 2024 EURUSDEUR/USD broke its four-day losing streak, trading near 1.0840 during the Asian session on Friday. However, the US dollar (USD) received support and hit a two-month high of 103.87 on Thursday, helped by a good US retail sales report, which fueled expectations that the Federal Reserve (Fed) may go for a nominal rate cut. According to the CME FedWatch Tool, there is a 90.8% chance of a 25 basis point rate cut in November and a 74.0% chance of another cut in December. U.S. retail sales rose 0.4% month-over-month in September, exceeding both August's 0.1% increase and market expectations for a 0.3% increase. Initial jobless claims in the U.S. fell by 19,000 in the week ended October 11, the largest decline in three months. Total claims fell to 241,000, well below the 260,000 expected. However, the euro faced downward pressure following Thursday's decision by the European Central Bank (ECB). The ECB cut its main refinancing operations rate and deposit rate by 25 basis points to 3.40% and 3.25%, respectively. Trade recommendation: Watch the level of 1.0860, when fixing above consider Buy positions, when rebounding consider Sell positions.
by Fresh-Forexcast2004
BTC UPDATE - 29.07.2024 / Will the growth continue?1d: I observe repeated liquidity manipulation of the lower accumulation boundary, followed by aggressive movement to the first target in the form of 69198.7 On 1h Tf: we see an aggressive and balanced order flow. I want to see the continuation of this upward movement from current through reaction to local imbalance and change of structure on lower tf. There is also an option of leaving through liquidity overshift in the imbalance zone (69273.9 - 68800). Buyer's next target on bitcoin: high at 72132.8
Long
by trademansi0n
AUDJPY BEARISH❤️Forex Besties❤️ INFORMATION The strong short-term decline in AUD/JPY calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 97.47 JPY, one could consider taking advantage of the short-term movement. The first bearish objective is located at 97.04 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 96.80 JPY as an objective. Crossing it would then enable sellers to target 96.41 JPY. Be careful, a return to above 97.47 JPY could jeopardize the reversal. 🔥SELL AUDJPY 97.800 - 98.900 SL @188.127 ✅TP 1 @ 97.600 ✅TP 2 @ 97.300 ✅TP 3 @ 97.100 ❤️FOREX BESTIES WEB - Technical Analysis Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS ❤️NOTE In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction. ❤️MONEY CAPITAL MANAGEMENT ⚡️ Only Trade With Risk Capital ⚡️ Cut Losses Short, Let Profits Run On ⚡️ Avoid Using Too Much Leverage ⚡️ Avoid Taking Too Much Heat ⚡️ Do Not Give in to Greed ⚡️ Take profit equal to 4-6% of your capital ⚡️ Stop lose equal to 2-3% of your capital
Short
by My_Forex_Team
Up Only (OPU) - long crypto gaming, huge potentialTrading low cap is fun but when you can find hidden games just by identify them by chart. UpOnly (UPO) is a Web3 Gaming Analytics and Prediction Platform (like the narrative btw) UpOnly (UPO) have: 1) A Nice looking chart 2) Low market Cap 3) A lot of Twitter followers (110K) 4) Exchange Listings When I see something pooping out like this in the chart after 16 months of accumulation, It's almost a screening buy. But I like to do some research and find a good entry first. In this case I think a good entry point could be at 0.062 (FIB-level 0.382). This is of course a wild bet that could go to zero - but I like it, I see huge potential here!
Long
by TaTaTaCrypto
3
NZDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity NZDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
2
Sunny🌞   (Confidence: 1.0 )🌤️ Bitcoin Weather Forecast 🌤️ It's looking like sunny skies ahead for Bitcoin! ☀️ In the past hour, Bitcoin's price opened at 28158 and climbed as high as 28384, with a low of 28000. The closing price was 28350, above the ema9 of 28446, but below the ema21 of 28655. Despite this, the long-term trend is still looking good with the ema50 at 28908, ema100 at 28951, and ema200 at 28807. Although the RSI is only at 36, indicating oversold conditions, the fast_k is at 50 and the slow_k is at 31, suggesting a potential bullish momentum. The slow_d is at 26, which may signal a continuation of the bullish trend. Overall, with a high confidence level of 1.0, it's looking like a good time to invest in Bitcoin. However, it's always important to keep an eye on market trends and adjust your strategy accordingly. Happy trading! 💰💻📈
BINANCE:BTCUSDLong
by ChatGPT_Bitcoin_Forecaster