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Ascending Channel

BTCUSD → A logical correction will test a strong support area BITSTAMP:BTCUSD continues to form a global ascending price channel. The actual counter-trend correction at the moment does not indicate any change of trend, an adequate reaction to the strong resistance area formed back in 2021 is being formed. The price on the daily chart is forming a local support line 28850, a pre-breakdown consolidation and false breakdown is formed, there is no reaction in the form of a rebound, and the price continues to form a squeeze to the support. In the near future 28850 may be broken and the price will test 28450, a false breakdown is possible. Also within this correction the price may test the support of the ascending triangle and 200-day moving average. The price may technically decline in order to purchase the asset at more favorable prices. The cryptocurrency market emphasizes more on fundamentals than on technical analysis, it plays a secondary role in this partnership. Crypto players are waiting for some news to activate the movement in one direction or another. Interesting nuances recently: 1) Approval of the spot BTC-ETF will lead to billions of dollars of non-investment inflows into the market 2) The government has stepped up BTC protagging for June-July 3) Mainers collectively stopped selling and started accumulating BTC. Their reserves are growing 4) Minimal liquidity is accumulating strong consolidation. A surge in volumes may follow in the near future Strong support levels: 28850, 28450, figure support, MA-200 Strong resistance levels: 29650, 30575, figure resistance. This correction is a logical move in the market. The price can't grow all the time. I expect bullish activity after retesting the support area. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
23
GOLD → Consolidation below support ahead of NFP. Trap? OANDA:XAUUSD has been consolidating below the previously broken descending channel support for two days. From the basic fundamentals, this formation suggests a strengthening sentiment for further declines, but there are always nuances to it Analysts were expecting bearish news for the dollar, which was previously published, but the index is showing a bullish bias, suggesting an improving economy. Fitch downgraded the long-term rating of the US to AA+ from AAA This is not good news for the dollar, but still: The U.S. was downgraded to AA in 2011, which caused the market to fall hard, but earnings and economic conditions were different at the time. This downgrade by Fitch is not fundamental as the economy is growing and profits are rising to service this debt. In terms of technical analysis, after a rally to the 1980 area, a correction in the format of a flag-like descending channel is forming, but at some point things don't go according to plan and price breaks the channel support, forming a consolidation and forming liquidity before further declines. Ahead of NonFarm Payrolls and Unemployment Rate publication, analysts are expecting bearish data, but based on earlier press releases, the numbers could be the opposite, which could provide new bullish potential for the dollar, and gold could fall to 1900. Support levels: 1933, 1930, 1927, 1912 Resistance levels: 1943, 1954 In priority I expect the price to fall to the lower support levels, but the price can break the situation if the expected fundamental data is confirmed. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
21
Bitcoin prediction 2028 (Fibonacci channel, must know)! This is my projection for the next 5 years. Bitcoin always rapidly grows after the halving event. But around 16 months after the halving event, Bitcoin started to crash significantly. On the chart, we can see a very important Fibonacci channel on the LOG scale. The 0.618 FIB is always a strong level, and bitcoin hit it almost to the dollar in 2022. Take a look at it! We deeply need to keep this Fibonacci channel in mind. The strongest FIB levels are 0.618 and 0.382. 0.618 + 0.382 = 1. Bitcoin loves these Fibos. Please do not expect some big parabolic phase to reach 500,000 USD in the next few months or years. This is not going to happen because you are too late for the exponential party. 100,000 - 120,000 in 2025 is a realistic target! Bitcoin is a good investment, and you can trade the major cycles. Buy low, sell high. It's easy to say, but it's not that easy for the majority of market participants. As per my calculations, the price of Bitcoin will be 1 million USD in 2044, which is 21 years ahead. In approx. 2140, all Bitcoins should be mined, and there will be no new BTC mined at all. Miners will receive rewards from the transactions of chain users. 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"! Bear markets and crashes: 2011 - 93.75% 2014 - 86.94% 2018 - 84.22% 2022 - 77.57% 2026 - 71.67% ?
Long
by UnknownUnicorn2537518
119
GOLD → Support breakout & consolidation. Fall after the shake-upOANDA:XAUUSD is breaking the range support, and on the daily chart the price is testing one of the key support levels. Here the candlestick analysis indicates the preconditions for further decline The price is breaking the support of the descending range. Consolidation of the price below the previously broken support is formed. Since the price is forming consolidation, most likely, while the market is gaining liquidity, false breakdowns (shake-ups) are possible relative to resistance and support of the conditional boundaries. On the daily timeframe, the price is testing 1935. The price on Wednesday closed quite close to the level, which indicates that the market is not ready to end the movement, it may continue. Important news is published today. It is worth paying attention to: Initial Jobless Claims, S&P PMI, Non-Manufacturing PMI, these are the nuances we dealt with on Sunday. Moving averages act as resistance Support levels: 1932.9 Resistance levels: previously broken trend support, 1938.5, 1943 I expect the decline to continue based on candlestick and technical analysis. The market has broken support and is most likely preparing for a continuation of the decline. But there is news ahead, it may change the situation significantly Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
33
GOLD → Resistance pressure on D1. Waiting for news OANDA:XAUUSD is forming a descending range after breaking the local trend. On D1, the chart is showing strong pressure from resistance and is forming a descending triangle which could give a strong fall, but there is news ahead... The price is testing the support at 1943 with the last move, making a false break and thus updating the local low to 1941.29. Based on the situation on the local timeframe and on the D1 we can say that the sellers are stronger, the fundamental background of the last trading week adds some confidence for this. Today ADP NonFarm Employment Change is published ( analysts expect a decline in the indicator, therefore the dollar may react negatively ), this press release can give us a rough mood for Thursday and Friday ( INJ, ISM, Nfp, UR are published ) Still, technical analysis initially lays a large percentage of the expected movement, even before the publication of the news and at the moment there is a preponderance of forces in the direction that the market is preparing for a fall. When enough weighty news is published, this imbalance may shift and in this case the price may break 1954, 1960 and head towards 1974 Support levels: 1943 Resistance levels: 1954, 1960 In priority I expect a decline to 1943 with the subsequent breakout, but on the background of news the price may act unpredictably and break the resistance. Watch the price reaction. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
💱USDJPY - Correction before further growth USDJPY is strengthening, making a false breakdown of local trend resistance. A correction towards the key support area is being formed, a rebound is likely to follow TA on the high timeframe: 1) False break of 142.25 may form a rebound to 140.7 2) The price is updating the local maximum, we should not expect a strong fall, as the market has a key target of 144.69, most likely in the medium term we will see growth to this mark. TA on the low timeframe: 1) A bearish correction is forming. This movement may test both 141.9 and 140.7. 2) There is no talk of a trend change, there is a strong bullish trend on the chart and a smooth transition into consolidation is forming. 3) Locally we have a bullish trend and in our case we should look for support levels to open long positions. Key support📉: 141.95, 140.73 Key resistance📈:143.00
Long
by Gold-Tech
5
EURUSD → A false break of support could provide bullish momentumFX:EURUSD is forming a false breakdown of the support line. The price is still trying to hold within the bullish trend The false break of the trend support led to an increase in liquidity, after which a reaction is formed in the market, which brings the price back into the channel and confirms the false breakdown. The false breakout may be followed by a retest of 1.09480 which will signal that the price is not ready to rise and will start to fall. BUT! If the currency pair consolidates above the support line of the uptrend, the market will form the potential for strengthening. Moving averages act as resistance. Support levels: trend line, 1.0948. Resistance levels: 1.1033, 1.1075. I expect price consolidation above the support line, relative to which a false breakdown was made. After that I will wait for growth to the resistance. Regards R. Linda!
Long
by RLinda
13
Bitcoin - Bart pattern + Comment your altcoin!Make a comment with your altcoin below this idea, and I will give you my opinion/analysis of it in reply! Make sure you hit the boost button as well to participate. I will answer your comment with an analysis for you on the weekly/daily chart (long term). I start my analysis with Bitcoin: The bart pattern is a new type of chart pattern that occurs specifically on Bitcoin but sometimes also on other coins. It's something like pump and dump, but at the top of the pattern we have a sideways price action that looks like a Bart's head. Usually August and September are the most bearish months on Bitcoin, so I would not be surprised! Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately! When we look at the daily chart, we can see an ascending parallel channel with 3 touches at the bottom. This indicates to me that the bulls are losing steam because they are unable to make a parabolic uptrend! There is still a possibility of going up to 32k - 33K in the short term, but this is something I don't want to speculate on. And even if Bitcoin could pump to these higher levels, the crash would follow either way. My Elliott Wave count suggests that a deep retracement is on the way up back to 20k or 21k, which is definitely a good price to buy as much Bitcoin as possible and prepare for the new bull market in 2024 and 2025. Also, you can open a long-term leveraged position on futures in this zone. We still need to wait around 8 months for the halving event, and that's plenty of time for a crash. We have a lot of unfilled FVGAPs and a CME GAP below the current price. They are going to be filled sooner or later. If we take a LOG fibonacci retracement from 16.3k to 31.5k, we can see that the 0.618 golden ratio is at 20303. The whales really like to buy BTC at this specific Fibonacci level, as it has the highest successful rate of all Fibonacci levels. This bart pattern looks pretty funny, but if you are on the wrong side of the market, it's definitely not funny. The price moves extremely fast, and you can wake up into a massive red dildo. 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"!
Short
by UnknownUnicorn2537518
356
💱 EURCHF - A reversal pattern. What to expect from it? EURCHF is forming a reversal set-up. Against the backdrop of the global downtrend, this doesn't tell us much, but if the price overcomes the resistance, a quick trend reversal could be in order TA on a high timeframe: 1) Strong bearish trend 2) Price continues to fall and test the bottom 3) Liquidity area that may be of interest to the market is above 0.96500 TA on the low timeframe: 1) A reversal setup is being formed relative to the 0.95987 level. 2) Consolidation between H&S base and 0.95897 support is possible, after which growth may follow 3) Bullish momentum may reach 0.96770 as this area is a global liquidity area. Key support📉: 0.95987 Key resistance📈: 0.96500
Long
by Gold-Tech
6
Bitcoin About to Repeat 2020 Fractal!?!In mid August 2020 bitcoin was putting in something on its daily chart eerily similar to what is happening currently with the bitcoin price action. That 2020 chart is not shown here, but just to quickly recap for those who were not around then, bitcoin was coming out of a long bear market, putting in higher highs and higher lows, to the point of finding itself overextended inside of a rising parallel channel with triple bearish divergence on its RSI. This of course would result in a violent yet swift correction to the downside that sent the price to levels most people at the time was not anticipating. Fast forward to the present, and when we look at the chart, what is happening? Bitcoin is coming out of a bear market, putting in higher highs and higher lows, finding itself now overextended inside of a rising parallel channel with triple bearish divergence on the RSI ladies and gentlemen. Keep in mind that one does not need to view this as a fractal. Simple technical analysis tells one that when you have ascending price action accompanied by a bearishly diverging RSI, a correction most of the time ensues. As of yet, we have not had the corrective follow thru in price action but as we enter into the new trading week, one has to believe it is now imminent. So what levels should we be interested in as a buying opportunity if we breakdown? I can start off by saying that a shallow move to the downside is extremely optimistic. And although price can reverse at any random point, it would not be wise to go long if we are to react at any shallow pullback in price. It is my humble opinion, that if we are to confirm a breakdown of the key 29500 level on the daily, the most optimum level for a long would be at the deepest level possible where one can strategize a proper stop loss. That would be the 88.6% fibonacci retracement from our recent high down to 24758, which puts the entry at about 25500. This also is an area where a value area low is located which gives this spot great confluence. Bitcoin in August of 2020 made this same deep retrace to a VAL area before finding a bottom. And not just a bottom but THE bottom. Bitcoin would never come back to those levels ever again and would run all the way to 69k. That is why everything in this idea is so important. What about levels before 25500? One has to believe that there is some sort of bounce area before the extreme value area low. Well if we look at the present chart, we see a nice range between our 61% retracement (27500) and the point of control (POC) of the value range at about 26800. Any support level above those 2 will be extremely thin and will most likely result in nothing more than a dead count bounce. Short sellers will jump heavily at any bounce if and when we begin to breakdown which is why any bounce at a shallow retracement will be difficult to trust as a bottom/reversal spot. Many people are beginning to flip their bias short, so naturally, one must gameplan if this does not playout. A scenario in which this bearish idea may be invalidated, could come about if price action maintained itself above 30k while the RSI and any other bearish looking oscilators reset. If the RSI can find itself back into the neutral zone before a breakdown occurs, there would be hope that a severe correction in price may be avoided. One way or another, however, something now has to give and correct itself. The question, is will it be the indicators, or the price action on the chart just as it did nearly 3 years ago to date. Either way, one last buying opportunity of a lifetime for the number 1 cryptocurrency asset could be just on the horizon.
BITSTAMP:BTCUSDShort
by TradeVibez
3
🥇GOLD - Consolidation below the support. Fibo retest GOLD after retesting the support area of the uptrend forms a false break of 0.5 fibo and declines, updating the local minimum at the beginning of the trading session. The market is forming consolidation below the previously broken support TA on the high timeframe: 1) Price in range, resistance was tested earlier 2) Price failed to make a new high on a retest of resistance 1984 3) Price is forming liquidity areas TA on the low timeframe: 1) A decline is formed after a retest of broken trend support 2) Price declines to 1950 and forms a retest of 0.382 fibo. 3) Most likely the market is looking for the area of local liquidity and forms consolidation of the potential for possible movement in one or the other direction 4) It is possible to decline from 0.382 fibo, or growth from 0.5 fibo. Key support📉: 1948 Key resistance📈: 0.382 fibo and 0.5 fibo
OANDA:XAUUSDShort
by Gold-Tech
17
GOLD → Prerequisites for a possible breakthrough of supportOANDA:XAUUSD forms a false breakdown of the specified resistance level of 1959.8. The fundamental factors of last week indicate the weakness of the instrument After a strong bearish impulse from the resistance of the 1983.7 range, a correction is formed aimed at retesting the 1959.8 area, the resistance is not broken and the price begins to decline. An attempt to retest the support of 1948 is being formed, which is a prerequisite for the market's readiness for further decline. The 1948 retest and the formation of pre-breakout consolidation near the level can form a potential at which the market can break support and decline by 1933. A reversal pattern is formed on D1, to confirm its implementation, the price needs to overcome the specified support. A bullish setup can appear only if the 1959 breakout and price consolidation above this line. Support Levels: 1948 Resistance levels: MA 50, 1959 I expect a 1948 retest with a possible breakthrough of support and further decline. Sincerely, R. Linda!
OANDA:XAUUSDShort
by RLinda
22
NZDUSD → Shake-up the support of the uptrend. Bullish potentialFX:NZDUSD forms a false breakout after retesting trend support, so we have the prerequisites for a new bullish movement. The price returns to the boundaries of the ascending channel after the support shake. Earlier, there was a shake-up of resistance, and the price fell to support. The price tests the Fibo 0.236 and forms a consolidation above this line, the support line also coincides. Consolidation of the price above this area will form a bullish potential, and in the medium term, the price may show strengthening. The global trend remains neutral, the local trend is still bullish. Moving averages may give a signal in the near term. Support levels: 0.236 Fibo, Trend support Resistance levels: 0.382 fibo, 0.6305 I expect the price to consolidate above this support area with further strengthening to 0.6305 or 0.6381. Sincerely, R. Linda!
Long
by RLinda
12
🥇GOLD - A retest of Fibo signals a fall. Difficult situationGold on Friday is buying back some of the fall that happened on Thursday. A correction is forming and price is testing a previously broken line and a key fibonacci area TA on the high timeframe: 1) In the coming trading week, we should pay attention to the consolidation forming in the 1984 - 1938 range boundaries 2) A breakout of the lower boundary will break the mentioned reversal pattern 3) Breakout of the upper boundary will give development of the specified potential and the phase of reversal pattern realization will begin. TA on the low timeframe: 1) Technical analysis points to a possible fall on Monday, as the retest of Fibonacci levels 0.5 and 0.382 forms a consolidation below trend support, which forms an entry point for selling. 2) A strong support was broken earlier on the news, after which a consolidation correction is formed 3) If the price does not break 0.5 fibo, it will form an entry point to sell below support. The price in this scenario will head towards 1933 Key resistance📈: 0.5 fibo Key support📉: 0.382 fibo
OANDA:XAUUSDShort
by Gold-Tech
18
BTCUSD → Price is forming a consolidation. Retest of 0.382 fiboBITSTAMP:BTCUSD is in the correction phase. The market is forming a decline in volatility to the lows of the last few months. Globally we still have an ascending price channel and a bullish trend. The price is declining to the limits of 0.382 fibo. Consolidation is formed above this line, in this case if the price continues to consolidate near 0.382 in the absence of a bounce, a breakout may follow and the price may decline to 28474 for a retest. A positive sign for us will be a rebound from 0.382 and a breakout of 0.236 with the subsequent consolidation of the price above the level, in this case the bulls will again begin to show potential and form a retest of resistance. The medium-term view of the situation tells us that this technical correction may continue, but not for long. The price is testing the important support area MA50 - 28474. In the long term it is worth paying attention to strong support levels, and secondly to the resistance, because in the uptrend it is worth looking for reversal points and entry points and breakout entry at these areas. Support levels: 0.382 fibo, 28474, 0.618 fibo Resistance levels: 0.236 fibo, 30575 I expect the correction to continue with a possible retest of 28474, but in the long term I expect continued growth to retest 30575 with a subsequent breakout and price movement to trend resistance. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
29
GOLD → Re-test of support after a heavy fallOANDA:XAUUSD is falling. After the news press release on Wednesday and Thursday, the price fell by 2.27 and this is one of the biggest drops in the last few weeks. The opening of the session begins with consolidation and repeated retest of support The price is testing the support of 1948.16 and forms a small pullback and this is a fairly predictable reaction. The position in the market quickly turns over and sellers begin to dominate again. The market cannot form a deep pullback and forms a quick retest of support in 1948. This is a strong enough signal that the market is preparing for a continuation of the fall. I think that there may be an attempt to buy back part of the fall, in which case the price may strengthen until 1959, but I am not sure that this level will be broken. We monitor the reaction of the price to the specified levels. Moving averages do not provide clean data, because a struggle between participants is taking shape in the market. Support levels: 1948, 1933.9 (important level of 1939) Resistance levels: 1955, 1960 I expect a possible rebound and another support retest, which will only increase the potential for an approaching support breakthrough. Medium-term goal 1939-1927 Sincerely, R. Linda!
OANDA:XAUUSDShort
by RLinda
24
EURUSD → The market is preparing for further decline FX:EURUSD is forming strong declines after the news on Wednesday and Thursday. The price is weakening by 2.95% amid the strengthening of the dollar On the chart I have indicated the current range with a width of 3.97%. The range boundaries are resistance at 1.1075 and support at 1.0635. At the moment the asset is within the ascending channel, but this is not important for us, we are interested in the ascending support line, which plays a key role for the price. We are interested in the price reaction to this line to determine further decline. We should wait for either a breakout or a false breakout, the signal for a set-up will be consolidation below or above the line. Accordingly, if the price consolidates below the level, the market will form an area for entering short positions Moving averages act as resistance Support levels: Trend line, 1.0948, 1.0835 Resistance levels: 1.1075 Most likely in the long term we should expect a decline, but a rebound is possible against this line before a further fall. The lower boundary of the range could be a medium-term target. Regards R. Linda!
Short
by RLinda
12
🥇GOLD - Retest of a previously broken trend line Gold breaks local trend support and updates the low to 1942.5. A reversal pattern is forming on the global timeframe, but the fundamentals are giving the opposite signal. TA on the high timeframe: 1) On the secondary movement on Wednesday and Thursday, the price failed to update the local high and is declining to the shoulder base area 2) A false breakdown of the liquidity area is being formed. If the price fixes below, the potential for a fall will be formed TA on the low timeframe: 1) A break of support forms a correction to the previously broken line 2) The resistance area can be tested by a false breakout. For the short scenario to be confirmed we need to wait for consolidation below 1957 3) Price is forming a correction and testing 0.382 fibo, most likely there is a chance for consolidation to 0.5 fibo, but only the price reaction to this area will give us confirmation whether there will be a rise or fall Key resistance📈: 0.382, 0.5 fibo, trend line Key support📉: 1948
OANDA:XAUUSDShort
by Gold-Tech
13
GOLD → Resistance Retest. Possible rebound before growth OANDA:XAUUSD amid FOMC speech realizes accumulated flag potential and strengthens, aiming for flat resistance, where it is at the moment Published today: 12:30 GMT Core Durable Goods Orders (downgrade) 12:30 GMT GDP (QoQ) (improving) 12:30 GMT Initial Jobless Claims (?) 14:00 GMT Pending Home Sales (improving) Overall there may be positive news for the USD, but it depends more on GDP & IJC. The reports of these releases will show the current situation on inflation. Gold may decline with positive reports in the US market, but since the metal is in an uptrend and in a bullish set-up phase, I think that after retesting the flat resistance, the price may test one of the nearest supports before rising further. The SMA is again forming a cross. Support levels: 1972.2, 1959.8 Resistance levels: 1983.7 I expect a storm in the market when the news is released. Report data may show a medium-term outlook. Gold chart so far gives hints of medium-term growth. Regards R. Linda!
OANDA:XAUUSD
by RLinda
22
GOLD → Awaiting the FOMC & Fed press release. ↑ or ↓ ?OANDA:XAUUSD is realizing the potential of the "flag" pattern I talked about yesterday. The correction wave is ending and the price continues to strengthen Today, Wednesday, important news are published, we are interested in those that will be at 18:00 GMT from FOMC, FED. Current issues related to the rate and inflation, some representatives of this structure say that the rate may increase, and the temporary weakening of inflation may soon end amid geopolitical factors. The gold price breaks correction resistance and starts to strengthen, testing the 1970 area. Below is one of the key support 1969.3, the expected consolidation above the level may form a potential for bullish movement. Before the news I recommend to trade carefully and try to reduce risks. Moving averages indicate a neutral stance in the market before the news. Support levels: 1969.3 Resistance levels: 1973.5, 1983 If the news is bullish for the dollar, the surge in volume could destroy the gold's strength and in this case the price will move towards 1950, the technical analysis of the XAU suggests a continuation of the upside. Actually in this combination lies the difficulty. Regards R. Linda!
OANDA:XAUUSD
by RLinda
16