RNDRUSDTRNDRUSDT is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now retesting the broken level, which is also the 50% Fib retracement level.
If the sell momentum continues the next target could be 3.00
What you guys think of this idea?
Brokenstructure
BTCUSDT: Update from the previous Trendline we made.Big shout out to the commenter on my previous post, thank you for helping me adjust my trendlines to form the correct (subjective) chart pattern.
If we think of the market's enthusiasm as a balloon, the Average Sentiment Oscillator is our gauge. When it's too high, it means excitement might be peaking, which can sometimes lead to a downturn, as not everyone can win in this game. The Stochastic RSI, another tool, helps us spot when the market's energy is fading. If it shows a 'reset' below a certain level without a positive signal, it's like our gauge is warning us that the balloon is losing air.
Analysis of Bearish Potential:
- Trend Lines and Patterns: Rising wedge pattern indicating potential breakdown.
- Average Sentiment Oscillator: High position suggesting overbought conditions.
- Stochastic RSI Div: 'Reset' below 25 without green 'R' signal, indicating potential move lower.
Now, imagine the market is a ship in open waters. Certain news events are like storms on the horizon.
3 Bearish News Potentials:
1. Regulatory Crackdown: Possible stricter regulations or bans on crypto transactions.
2. Security Breaches: Reports of major security breaches within cryptocurrency platforms.
3. Economic Policies: Unfavorable economic policies affecting crypto liquidity or attractiveness.
Thesis for Bullish Continuation:
- Support Levels: Strong buying interest above the 37k support level.
- Elliot Wave Analysis: Potential for another leg up to complete the Elliot Wave pattern towards 42,000.
- Sentiment and Momentum: Upward trend in Average Sentiment Oscillator and Stochastic RSI 'green R' signal.
Pivot Areas for Trade Reversal:
- Below Support: Decisive drop below 37k indicating a bearish trend pivot.
- Top of the Wedge: Failure to break the wedge upper line as a bearish reversal point.
- Stochastic RSI Div Crossing: Watch for cross above 25 with 'green R' for bullish reversal if in short.
Confirmation for Going Long:
- Breakout Confirmation: Strong close above the wedge on significant volume.
- Stochastic RSI Div 'Green R': Signal coinciding with upward price action.
- Sentiment Oscillator Trend Change: Reversal indicating reduced selling pressure.
Confirmation for Going Short:
- Wedge Breakdown: Price breakdown from wedge on high volume.
- Stochastic RSI Div Continuation: Stays low without 'green R' while price falls.
- Sentiment Oscillator Decline: Sharp downturn at overbought levels signaling short entry.
Note: Use stop losses and consider risk-reward ratio fitting your trading strategy and risk management. NAFA, do not be part of the dumb money.
USOILUSOIL is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now retesting the broken level.
If the sell momentum continues the next target could be 80 followed by 79 region.
What you guys think of this idea?
Don't forget to share your idea.
AUDCHFAUDCHF is trading in descending parallel channel and break through Support and closed below this zone. now the price perfectly retesting the broken level
Will the sellers attack again and send the price to below 0.5570 level?
What you guys think of this idea ?
KSMUSDTKSMUSDT is trading under the declining in descending parallel channel and break through Support and closed below this zone. now the price perfectly retest of broken level
Will the sellers attack again and send the price to below 15 level?
What you guys think of this idea ?
TRXUSDTTRXUSDT is trading under the declining in descending parallel channel and break through Support and closed below this zone. now the price perfectly retest of broken level
Will the sellers attack again and send the price to 0.0830 level?
What you guys think of this idea ?
AUDCHFAUDCHF is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now retesting the broken level, which is also the 0.38% Fib retracement level.
If the sell momentum continues the next target could be 0.5770 followed by 0.5740 region.
What you guys think of this idea
USDCADUSDCAD is in strong bearish trend and also form bearish flag pattern. Recently the instrument has break through important support zone.
Now the price is trading within the bearish flag and seems like it getting ready to break it.
Will the sellers took benefits from these bearish confluences?
GBPNZDGBPNZD is in strong bearish trend and also form bearish flag pattern. Recently the instrument has break through important support zone.
Now the price is trading within the bearish flag and seems like it getting ready to break it.
Will the sellers took benefits from these bearish confluences?
EURCADEURCAD is trading under the declining trendline and break through Support and closed below this zone. now the price perfectly retest of broken level at 50% fib retracement level.
Will the sellers attack again and send the price to 1.4160 level?
What you guys think of this idea ?
EURGBPEURGBP was trading in bullish parallel channel till the sellers took control from channel resistance and has given the massive sell rally. That sell rally break the ascending channel.
Now the price is retesting the broken channel and broken support level. which is also the 50% fib retracement level.
it seems like the sellers can attack again this bearish confluence.
If the sellers takes charge again, the next target could be 0.8590
UK100UK100 was trading in strong bullish channel till the sellers took control from channel resistance and has given the massive sell rally. That sell rally break the ascending trendline.
Now the price is retesting the broken channel and broken support level with strong bearish divergence.
it seems like the sellers can attack again this bearish confluence.
If the sellers takes charge again, the next target could be 7400.
What you guys think of this idea?
USOILUSOIL is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now retesting the broken level, which is also the 50% Fib retracement level.
If the sell momentum continues the next target could be 88 region.
What you guys think of this idea.
CHFJPYCHFJPY Break it's Support and closed below this zone. Where after a correction a big down fall is expected. Pair hold a support for the long time now moving below this zone. If price hit the mentioned zone I am expecting support zone will act as a resistance and push the price more bearish.
GBPJPYGBPJPY is trading in descending channel and printing consistent LLs LHs. Currently the price is broken the important support zone and also has given the retest of broken level which is also the 50% fib retracement level.
If the sell momentum continues the next target could be 180.500 region.
What you guys think of this idea?
AUDUSDAUDUSD was trading in bullish parallel channel till the sellers took control from channel resistance and has given the massive sell rally. That sell rally break the ascending channel.
Now the price is retesting the broken channel and broken support level. which is also the 50% fib retracement level.
it seems like the sellers can attack again this bearish confluence.
If the sellers takes charge again, the next target could be 0.63800.
OPUSDTOPUSDT is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now the retest of the broken level is highly possible, which is also the Fib retracement level.
If the sell momentum continues the next target could be 1.210 region.
What you guys think of this idea.
APPLE SHORT NOW??Disappointing earning resulted in Apple finally getting that retracement that's been long awaited and finally breaking a 210 day bullish demand line. Now there are three options to consider.
At some point Apple IS GOING to test the former resistance shown by the red box and this ss below.
Once it does we'll be looking for its Price action.
As a Bull I'd like to see option 3 play out, a retracement to the 0.382 fibonacci level, a break above the resistance box and a confirmation of that box as support. This would be a text book bull market retracement before new all time highs and would give us the perfect long opportunity.
Option 1 would present a chance for some small quick gains that I will not trade, it could easily represent a lower high which would then give us a great short opportunity, or a new ath which we won't have traded because thr RR probably wont have been there.
Option 2 could present a short opportunity if some bearish divergence is formed.
I will update when some more data comes through. Share your thoughts below!
NZDJPYNZDJPY is in strong bullish trend.
As the market is consistently printing new HHs and HLs, seems good buying opportunity.
currently the market is retracing a bit after last HH, which is also the 50% fib retracement level and the previous broken resistance might be turning as a support. if the market successfully sustain this bullish confluence the next leg high could be 0.02450
What you guys think of this idea?
EURNZDEURNZD is trading in descending channel and printing consistent LLs LHs. Recently the price is broken the important support zone and now retesting the broken level, which is also the 50% Fib retracement level.
If the sell momentum continues the next target could be 1.7945 region.
What you guys think of this idea.
EURCADEURCAD is trading in descending channel and printing consistent LLs LHs. Currently the price is broken the important support zone then any retest of broken level will be another sell option.
If the sell momentum continues the next target could be 1.4500 region.
What you guys think of this idea
HIFIUSDTHIFIUSDT is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is also the 50% fib retracement level and broken resistance which is also reacting as a support. if the market successfully sustain this bullish confluence the next leg high could be 0.6300.
EURGBPEURGBP is trading in symmetrical triangle pattern. The price is reacting well the support and resistance of triangle.
Currently the price is had break the support level within the triangle , a successful retest of this broken level can lead the price to support of triangle.
