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BTC: Two potential target prices - Two critical support zones correspond with the 0.382 and 0.618 Fibonacci retracement levels of the entire swing from A to B, enhancing the significance of these support levels. - After two months of ranging, the price finally broke below the critical support zone as volume spiked, confirming the breakout and leading to a significant drop. - If the price does not return above the first support zone , two potential target prices can be anticipated: 1. A 100% extension of the large purple box. 2. A 100% extension of the small blue box. Note that this target price perfectly aligns with the previous key resistance-turned-support level. Not Financial Advice The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
COINBASE:BTCUSDShort
by stock_adelie
2
Market Watch: Trends, Patterns, and Trading OpportunitiesMarket Analysis - April 16, 2024 by André Cardoso The insights presented in this summary are intended to assist traders and investors in understanding market dynamics and identifying potential trading opportunities. I hope this summary proves to be informative and helpful to you, our readers, in your investment decisions and trading strategies. TVC:DXY The DXY is encountering channel resistance and exhibiting a bearish Gartley pattern. TVC:US10Y US10Y bonds are also nearing channel resistance and have already reached the target for the previously formed cup and handle pattern. OANDA:SPX500USD The SPX500 is currently trading near the 0.382% Fibonacci retracement level, potentially serving as a support element. FX:GER30 The German DAX is showing signs of potential short-term recovery after breaking previous lows and fractal support. OANDA:XAGUSD Silver is reacting lower after encountering channel resistance and hitting the target for the cup and handle pattern formed at lower levels. OANDA:WTICOUSD Crude oil remains in bearish crab pattern territory unless the geopolitical situation between Israel and Iran escalates; we still expect a pullback. FX:GBPUSD The GBP is forming a bullish crab pattern as previously projected. OANDA:NZDUSD The NZD is facing channel support; we should pay attention to tonight's CPI data. OANDA:USDCHF The CHF has completed what appears to be a five-wave structure to the upside in Elliott Wave theory, which opens the door for a pullback. OANDA:USDNOK The NOK printed a bearish shark pattern pushed at the 224% Fibonacci extension. Japanese Yen (JPY) Pairs: JPY pairs have printed a nice "V" shape recovery, but I still expect bullish crab patterns for AUD and NZD versus JPY to form at lower levels. OANDA:EURAUD The EUR/AUD pair may also be affected by tonight's CPI data; we have a bearish crab pattern projected at the golden Fibonacci extension to consider. OANDA:EURNZD The EUR/NZD pair is approaching previous highs and major resistance, with a bearish shark pattern on hold at higher levels. FX:GBPAUD For the GBP/AUD pair, I have a bearish alt-bat pattern projected at the 113% Fibonacci extension; if reached, it may offer a pullback to last week's previous resistance levels. BITSTAMP:BTCUSD To wrap up with BTC/USD, a bullish crab pattern that I projected earlier in the week at $60k remains my primary focus for the cryptocurrency. Printing new lows below $61,308 (new fractal support) will place the cryptocurrency very close to forming the projected pattern concretely at $59,462. Thank you for reviewing this summary of the financial markets. I hope it proves valuable for your trading decisions. Stay tuned for more updates, and more educational content. André Cardoso
BITSTAMP:BTCUSD
by Andre_Cardoso
Bitcoin's Halving Effect: Analyzing Patterns and PossibilitiesBitcoin's fourth halving, set to occur in less than a month, marks a pivotal event in its history, embedded within its code to occur every four years or after the addition of 210,000 blocks to the blockchain. These halvings are a cornerstone of Bitcoin's monetary policy, halving its supply growth rate each time. Expected around April 20, this upcoming halving will reduce Bitcoin's supply growth to about 0.8% annually. Historically, halvings have had a significant impact on Bitcoin's price, and this one appears to be no exception. Here's why purchasing Bitcoin before April 20 remains a prudent move. Each halving fundamentally shifts the supply-demand dynamics. By reducing the rate of new Bitcoin introduction, halvings create a scenario where, even with steady demand, the price must rise to compensate for the reduced supply growth. This trend is evident in Bitcoin's performance during halving years, where it has surged approximately 125% on average. However, it's the year following a halving that typically sees the most substantial gains. On average, Bitcoin has surged by an impressive 415% in the year following a halving. This means that an initial investment of $1,000 could potentially exceed $5,000. While past performance is not indicative of future results, there are compelling signs that this halving could follow a similar trajectory to its predecessors, if not surpass them. Renowned crypto analyst Benjamin Cowen's analysis suggests that Bitcoin's performance leading up to and during the current halving year mirrors historical patterns. Moreover, Bitcoin's current outperformance relative to past halving years indicates a potentially bullish trend. This halving is unique in that it occurs amidst a backdrop of fewer coins available on exchanges compared to previous halvings. Additionally, newly approved spot Bitcoin exchange-traded funds (ETFs) are expected to increase demand. However, it's crucial to provide context and consider Bitcoin's long-term trajectory. Historically, two years after a halving, Bitcoin's price tends to experience significant declines. Investors must adopt a long-term perspective, as Bitcoin's cyclical price movements indicate that patience is key. Bitcoin rewards those who endure post-halving declines, with each halving cycle compounding gains over time. While it's not too late to invest in Bitcoin, investors must understand the importance of patience and long-term holding. With a deeper understanding of Bitcoin's dynamics, investors can navigate the fluctuations of each halving cycle with confidence.
COINBASE:BTCUSDLong
by FOREXN1
7
💣 BITCOIN new ATH 75000$ 💣Hello 🐋 Considering the chart high volume, the shape of pattern, candles and support area 👌💪 I anticipate upside gains, with a primary target of at least 73k to 76k 📈🤞 it is logical to see some stop loss hunting and shadow candles too so watch your stop loss 🧨💣 it is possible to see some range movement or red candlesticks too 📚💡 beside 68000 is significant daily support area for this theory 📚✔ 👌 Attention: Take note of the price in the condensed chart (positioned below the primary chart in black). 📖💡 Feel free to express your perspective by commenting below. Thanks! 🐋
Long
by MadWhale
12
Exploring the Potential of OGV (Origin Governance) As the digital currency landscape continues to evolve, one token that's been drawing attention from the trading community is OGV (Origin Governance). This token represents a significant step forward in decentralized finance (DeFi), offering users a unique opportunity to participate in the governance of the Origin platform. What Makes OGV Stand Out? OGV is not just another token in the vast sea of cryptocurrencies. It's the backbone of the Origin platform's governance model, allowing token holders to influence decisions and the future direction of the ecosystem. This level of engagement is what many investors and enthusiasts find appealing, as it provides a sense of ownership and contribution to the project's success. The Future of OGV While the cryptocurrency market is known for its volatility, the underlying technology and community support of OGV suggest a promising future. The team behind Origin has continuously worked on enhancing the platform's features and usability, aiming to make decentralized finance more accessible and efficient. OGV (Origin Governance) presents an intriguing opportunity for those interested in the governance and development of a leading DeFi platform. Its unique position in the market and the ongoing efforts of the Origin team could make it a noteworthy token in the days ahead. However, remember to approach trading with caution and make informed decisions.
OLong
by jackmusk
BITCOIN trading advise... hi guys I'm msnp.. bitcoin is going up today and I wonder that what are you doing in this time? buying? selling? hodl? happy? worried? sad? so first of all lets see what happening on technical side : in last post about bitcoin we said everything you need when you sell and buy and now i see a channel , last move speed was so high and i think its unstable so be careful. if you are in the market: 1. you can hodl but be careful. 2. you can sell a little bit and wait for next opportunity. it's all on your strategy and personality if you fell fear or greed if you are waiting for 100k bitcoin or 20k bitcoin I have to say sorry pall market don't care about our idea, about our wishes (new home, new car ....) market a place without any sense, so OfCourse he can't understand our feelings. ok next if you are in cash don't worry you miss nothing just avoid of FOMO and be ready for another opportunity. im here for any questions and problems follow me and be happy
by imMsnP
2