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Not hurry up with a new longMorning folks, So, Monday's setup is done perfect, we've got long entry around 66K support area as we've planned. But next step currently is not evident. The point is that the retracement starts across the board - DXY, FX, Gold, Bonds etc... BTC in recent few weeks had a bit special performance. And mostly it was moving higher on D. Trump crypto programme. Currently we wouldn't hurry up with a new long entry. Those who bought around 66K could keep positions with breakeven stops.
COINBASE:BTCUSD
by Sive-Morten
1
BTC/USDT UpdateBTC/USDT Technical Analysis Update Date: 10/24/2024 Author: Crypto Rado ( Rhino aka Bear ) Timeframe: 1H & 4H 🔹 Overview:🔹 Bitcoin has successfully hit the $65.4K target, as expected, and has since bounced with a bullish divergence on the 1H timeframe, suggesting a potential short-term momentum reversal. 🔹 Key Levels:🔹 Resistance Zone: $68K–$68.5K (Aligns with the 0.615–0.786 Fibonacci retracement on 1H) Support Zone: $65.4K (Breakdown level) Point of Control (POC): $67.3K (Volume-driven key level) 🔹 Scenarios: 🔹 Bearish Case: A confirmed breakdown below $65.4K could drive the price towards $63.7K and $62.6K, with larger downside targets at GETTEX:48K to $40K if bearish momentum continues. Bullish Case: If Bitcoin breaks above $69.8K, the next major upside targets are between $100K and $110K, signaling a continuation of the bullish trend. For now, the market structure appears corrective rather than fully bearish, and I will wait for clearer price action before making further trading decisions. Disclaimer: ⚠️ This is not financial advice. All information is for educational purposes only. Conduct your own research and understand the risks before making any trades.
by RhinoAkaBear
BITCOIN This 1D Golden Cross can push it to the ATH ($73800).Bitcoin (BTCUSD) is ahead of a major bullish formation as most likely by next Monday, it will form a Golden Cross on the 1D time-frame, the first such formation since October 29 2023. As we've analyzed before, it is no coincidence that exactly 1 year later a new 1D Golden Cross emerges as seasonality and long-term Cycles play a pivotal role for BTC. On top of that, the price made a major re-test (and so far bounce) at the top of the former Channel Down that broke upwards last week. If this re-test holds, it is the best short-term signal for a new High. In fact the price has been making Higher Highs since the August 05 bottom, forming a double Channel Up pattern, and those Higher Highs are the reason why the market got behind this rally and supported it to break above the 7-month Channel Down. So the Higher Highs along with the 1D Golden Cross are the bullish combination that the market needs to look (much) higher. The first technical target now is naturally the 73800 All Time High (ATH). It is very possible to see it get tested by the election day. But what do you think? Do you expect the ATH to break aggressively after the elections, just like the October 2023 1D Golden Cross did? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
3
BITCOIN → False Breakout & Bearish Engulfment ↓ BINANCE:BTCUSD entered a strong buying zone (68900) within the rally. BUT, the expected growth did not happen, the bulls could not realize the potential. A bearish engulfment of the last three bars is formed and actually - a false breakdown of the descending resistance... The growth formed from 59K is partly connected with the election race in the USA, economic revival in China, as well as economic news. But apparently, this energy is not yet enough for the price to easily overcome 68-69K with a target of retesting 71-73. The resistance zone of 68.4-69.4 is putting pressure. Buyers are taking profits, while bears, seeing the strong resistance zone, are trying to resist. The structure will break down if the price breaks 69400 At the moment, we see a bearish engulfment forming relative to the previous three bars, and this is a strong enough signal. Consolidation below resistance is forming, a small correction may be formed, the first target of which may be 65K, then 61-58-57. Resistance levels: 68400, 69400, 71500 Support levels: 66500, 65000 After the false breakdown, the price consolidation is formed below the resistance, which indicates the pressure from the sellers. This may provoke further downward correction. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;) Regards R. Linda!
Short
by RLinda
56
correction befor direction in BtcBeautifully, from the level I expected, the price was rejected and formed the bottom of the descending range, although the reaction was so fast that it did not reach the entry point of my long stop, which of course did not give a good R/R in case of direct entry, and by the way, the same liquidity that is from itself Leaving it gives a reason to be caught and go down faster... Considering the liquidity of the liquidity trend line that is formed below the 4-hour premium range, when the price reaches the range of 68,000, which is the closest daily level in the premium range area. It is set for 4 hours and I am waiting for a short setup after receiving confirmation in the lower time frame, and if it crosses the 69,000 level, it is the last area that can be entered directly even if an indusment is formed.
Short
by MrHunterTradeInsight
KASPA - IT'S ABOUT TIME TO MOVE IN UPTREND (TA + TRADE PLAN)Timeframe: 4-hour chart Current Price: $0.133 Rising Wedge Formation: Resistance Line: The upper green line represents the resistance level, which is slightly inclining upwards. Support Line: The lower green line forms the support for this wedge. This support level is also inclined upward but at a slightly steeper angle than the resistance. Pattern Interpretation: The rising wedge pattern, as observed in the chart, is typically a bearish reversal pattern. However, given the overall crypto market volatility, a breakout in either direction is possible. Bearish Scenario: A breakdown below the support level would confirm a bearish trend, potentially leading to lower lows. Bullish Scenario: If the price breaks above the resistance, it could invalidate the wedge pattern and indicate a bullish breakout. VMC Cipher B Indicator: This oscillator shows wave momentum, with the darker blue shading indicating downward momentum at present. Current Signal: Mixed with a potential trend shift. A continuation of negative momentum would reinforce the bearish wedge breakdown scenario. RSL (Relative Strength Level) Indicator: The current RSL value is 51.83, indicating neutral territory. This suggests no strong trend is currently dominating but could indicate either upward or downward movement depending on further price action. Stochastic Indicator: Stochastic RSI stands at 41.60, which is in the lower-mid range, signaling the asset is neither oversold nor overbought. This neutral stance suggests a wait-and-see scenario for the breakout. HMA (Hull Moving Average): The Hull Moving Average histograms are slightly positive, showing marginal bullishness. However, the movement is not aggressive enough to signal a strong upward trend as of now. Key Levels: Resistance: Around $0.135 - $0.138 Support: Approximately $0.131 - $0.130 Psychological Support: The $0.130 zone is a critical psychological support. Breaking below this would signal a more significant sell-off. Indicators Summary: Momentum: Slightly negative to neutral (VMC Cipher B). Strength: Neutral, with room for movement either way (RSL 51.83). Stochastic RSI: Suggests no strong overbought or oversold signals (41.60). Trading Plan: Scenario 1: Bullish Breakout Entry: If the price breaks and sustains above $0.135, it indicates a bullish breakout from the rising wedge. Take Profit 1 (TP1): $0.145 (first resistance level). Take Profit 2 (TP2): $0.155 (potential swing high). Stop-Loss: Set a stop-loss just below the wedge’s lower support at $0.130 to manage risk. Scenario 2: Bearish Breakdown Entry: If the price breaks below the support at $0.130, it signals a bearish move. Take Profit 1 (TP1): $0.125 (first support level). Take Profit 2 (TP2): $0.115 (next significant support). Stop-Loss: Place a stop-loss above the wedge's upper resistance at $0.135. Risk Management: For both bullish and bearish setups, adhere to a risk-reward ratio of 1:2. Adjust stop-loss and take-profit based on market volatility and personal risk tolerance. The rising wedge pattern indicates caution, as it is historically a bearish reversal formation. However, confirmation of either a bullish breakout or bearish breakdown will guide trading decisions. Momentum indicators and oscillators suggest neutrality, indicating that this wedge could break either way soon. Traders should remain vigilant for confirmation signals and place stop-losses to protect against unexpected volatility.
CRYPTO:KASUSDLong
by elfabiiani
7
Could the Bitcoin reverse from here?The price is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support which acts as an overlap support. Pivot: 68,102.13 1st Support: 66,091.35 1st Resistance: 69,487.36 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:BTCUSDShort
by ICmarkets
2
BTC, can confirm we confim the breakout?Please check the previous idea to get the bigger picture - You find it in my profile Hello everyone, Bitcoin reached the top line of the flag pattern, that was built from the 74k top. We got a strong move up, but the breakout didn't even reached 70k. Bearish Case Currently we are in a correction of about 3000 Dollar and the correction could expand, if the current support from the 1H 200 EMA will be lost. The next support would come in between 64k and 65k. Bullish Case If the price can stay above 66500 and breaks the pattern to the upside, it will face resistance at 68k and needs to get over 68400 to continue the path to the upside. If that's the case, 73k should be the next target
COINBASE:BTCUSD
by Kyrean
The beginning of trading begins with waitingHello, traders. If you "Follow", you can always get new information quickly. Please click "Boost". Have a nice day today. ------------------------------------- (BTCUSDT 1D chart) There are indicators that are paired with indicators that show support and resistance points. The HA-Low and HA-High indicators and the BW (0) and BW (100) indicators are paired. - HA-Low, BW (0) indicators show the low range, - HA-HIgh, BW 100) indicators show the high range. Therefore, if it touches HA-HIgh or BW (100) and starts to decline, it is likely to touch HA-Low or BW (0), and you should think about a countermeasure. If it encounters resistance at the HA-High indicator (67414.39) on the current 1D chart and starts to decline, it is likely to touch the HA-Low indicator (currently 56204.13) on the 1D chart. However, you should be aware that the HA-Low indicator may move and be created as the price falls. Since the BW (50) indicator exists between the BW (100) indicator and the BW (0) indicator, it cannot be said that a decline in the BW (100) indicator will necessarily touch BW (0). Accordingly, the BW (50) indicator can replace the role of the BW (0) indicator. The above explanation is the information required when utilizing the indicators on this chart. - The 65920.71-67414.39 section is a section composed of HA-HIgh indicators. Therefore, the key is whether it can receive support and rise in this section. If not, and it falls below 65602.01, there is a possibility that it will fall to around 61099.25. However, since the M-Signal indicator on the 1W chart is passing around 62791.03, it is highly likely that it will touch around 62791.03 and rise, and you should consider a response plan. - Since the M-Signal indicator on the 1D chart is passing around 65920.71, it can be interpreted that it is currently shaking. However, if it fails to rise above 67414.39, it is expected to eventually fall below 65602.01, so caution is required when trading. - We need to check whether the StochRSI indicator will enter the oversold zone with this decline. If the STochRSI indicator has entered the oversold zone, there is a high possibility that the downward force will be strong, so it may lead to an additional decline. Therefore, whether there is support around 65602.01-65920.71 is significant. - Based on the above, we can see that it is not the time to conduct a new transaction. Therefore, in order to conduct a new transaction, we need to check whether the StochRSI indicator turns upward when it shows support around 65602.01-65920.71. If not, and it falls, it can be seen that it is time to start trading when the HA-Low indicator or BW (0) indicator is newly created or when it is confirmed to be supported around 61099.25-62791.03. - If you create a trading strategy and start trading and the movement is in the opposite direction, then you should check the movement of the support and resistance points or indicators. (SOLUSDT.P 1D chart) That is, let's assume that you started trading by selling (SHORT) when the arrow indicating the appearance of the BW (100) indicator was created and the BW (100) line was created when it showed a downward trend, as in the SOL chart. However, as the price rose, the BW (100) line disappeared and rose to around 171.63. We should also think about countermeasures for this movement and start trading. Even if you didn't think about it, you can see that the STochRSI indicator has entered the overbought zone, so it will eventually fall over time. Therefore, you just need to decide whether to proceed with additional selling (SHORT) in the current rise or wait. Since it is a futures transaction, the forced liquidation point is close, so you should consider this first and think about a response plan. Since the StochRSI indicator touches the highest point (100), it cannot be said that the decline will begin immediately, so it is better to check the movement a little more. Fortunately, the BW (100) line of the 1M chart currently exists at the 171.63 point, so it is expected that you can create a response strategy by checking whether there is support near 171.63. ------------------------------------------------- You should continue trading even if the transaction fails. Otherwise, you will lose your trading sense and it may not be easy to start trading again. However, you should not start trading at any time. You need to be able to wait for the right time to start trading, and when it's time to start trading, you need to start trading boldly. (BTCUSDT.P 1D chart) I started trading with the previous indicator chart, so it's a bit low entry price, but I'm maintaining a sell (SHORT) position at 68293.8. Unlike the BTCUSDT chart, the BTCUSDT.P chart has a volume profile section formed at 66750.0. Therefore, it is expected that it will be important whether it receives support or resistance around 66750.0-67392.1. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that the real uptrend will start when it rises above 29K. The next expected range to touch is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points that are likely to receive resistance in the future. We need to check if these points can be broken upward. We need to check the movement when this range is touched because it is thought that a new trend can be created in the overshooting range. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
The possibility of realizing the potential of OAXToday, another announcement was released about the delist from the ooki, unfi, kp3r, idrt binance. It is very unpleasant to see ooki in the list, which repeatedly gave large impulses and pleased with profits. Because it was delisted from an already extremely oversold position, there is a fairly high probability of an exit pump, but I will look at it at least closer to the weekend. After the announcement was released, the rest of the coins with the monitoring tag turned out to be safe, against which you can look at increasing positions on them. First of all, OAX stands out for a large number of unused savings in order to retry an exit above 0.35-40, full issue, the presence of a btc pair providing additional liquidity, and extremely high unprocessed targets on large timeframes up to 5X in a pair to btc. This combination gives a huge potential for a breakdown. Also, during the impulse on October 9, signals for overshooting were left on small timeframes, which gives an additional signal for growth. Taking into account the approach to the end of the month, the probability of a repeat impulse with the aim of local overshooting with a test of the trend line formed by the previous breakdown is growing. In case of consolidation above the trend line or the 0.25 level, which is key for the growth of volatility, there is a probability of an impulse to 0.35+. The main support is the range 0.125-135. We have already pushed off from the lower limit, in case of successful re-trading and a rebound from 135, there is a chance of a trend. Even on a 0.25 retest, the profit reaches 90%, and when trying a 0.35 test, it reaches 150%. If a new monthly candle opens above 0.25, a further breakdown will not take long. GFT vite pros hard and akro from coins with a monitoring tag can also show good growth. However, unlike oax, they have already worked out quite high goals, which reduces their growth potential. Among them, gft looks the most interesting so far, having the greatest liquidity due to derivatives on other exchanges, which in the future may lead to the addition of futures on the binance, or a change of tag with rapid subsequent growth.
Long
by Strateg_
Election 2024: Bitcoin to $80k? Election 2024: Bitcoin to $80k? The cryptocurrency market is turning downwards, in tandem with the broader stock market. This decline might be dashing hopes of BTC/USD breaking the $70,000 threshold. Despite the bearish trend, options traders like the odds that Bitcoin could soar to $80,000 by the end of November, regardless of the outcome of the U.S. presidential election. Kamala Harris has remained relatively quiet on the subject of cryptocurrencies, though an adviser recently signaled she would “support policies that ensure that emerging technologies, and that sort of industry, can continue to grow”. Meanwhile, Donald Trump is actively courting crypto holders, pledging to transform America into the crypto capital of the world and establishing a strategic national cryptocurrency stockpile, akin to the country's gold reserves.
BLACKBULL:BTCUSD
by BlackBull_Markets
BTCUSD approaching a very strong support zone.Bitcoin is trading inside a Channel Up pattern, which since Monday is correcting. We are already below the MA50 (4h). The previous correction found the first support on the MA200 (4h), just over the 0.5 Fib. It then broke slightly below it for the final bottom of the pattern. Trading Plan: 1. Buy on the MA200 (4h). Targets: 1. 71500 (just under the -0.236 Fib extension, like the October 21 High). Tips: 1. The RSI (1d) provides the most efficient buy signal on its Rising Support trendline, which started on the August 5th Low. If its crosses below its MA, then reserve one final buy for the Rising Support. Please like, follow and comment!! Notes: Past trading plan:
CRYPTO:BTCUSDLong
by TradingBrokersView
APTOS - APT COIN SWING LONG IDEA - ALTCOIN MARKET - CRYPTOAptos is one of the most useful Layer 1 chains in crypto right now. I believe the fundamentals of this coin are remarkable, and I expect it to perform well during the 2024-2025 crypto bull market. The price is coming from the monthly demand zone. It swept the 2024 spring low before getting rejected from the monthly demand, which created strong bullish momentum. It also broke the diagonal trendline responsible for the bearish movement. Currently, both weekly and daily momentum are strongly bullish. I expect the price to hit the daily demand zone and take off from there. It might form a small range around this level, but I believe we are targeting all-time highs.
Long
by UA_CAPITAL
Bitcoin Analysis ==>> Bearish Pennant Pattern!!!Bitcoin ( BINANCE:BTCUSDT ) moved and filled the CME Gap as ✅I expected from the previous post . Bitcoin was able to move itself below the Important Resistance Line and Resistance zone($70,080- $68,250) . Regarding Elliott wave theory , Bitcoin seems to have completed the main wave 5 as I expected with the Ending Diagonal . Currently, Bitcoin has completed 5 bearish (small) waves and is completing corrective waves . In terms of Classical Technical Analysis , Bitcoin has the ability to form a Bearish Pennant Pattern or Head and Shoulders Pattern . ( I drew the pattern separately for you so that the chart is not busy .)👇 I expect Bitcoin to continue its decline to at least $65,500 , and if the Support zone($66,500- $64,480) is broken, we should expect more Bitcoin declines . ⚠️Note: If Bitcoin can break the Resistance zone($70,080-$68,250) and Resistance lines, we should wait for a new All-Time High(ATH) for Bitcoin.⚠️ Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
8
Bitcoin Analysis==>>Ending Diagonal!!!Let's update the Bitcoin chart . Bitcoin( BINANCE:BTCUSDT ) is in the Resistance zone($70,080- $68,250) . According to Elliott's wave theory , Bitcoin seems to be completing the main wave 5 . The structure of the main wave 5 is Ending Diagonal . I expect Bitcoin to FALL again and fill the first CME Gap($67,250- $67,050) . What is your idea Bitcoin can make a New All-Time High(ATH)? ⚠️Note: If Bitcoin can break the Resistance zone($70,080-$68,250) and Resistance lines, we should wait for a new All-Time High(ATH) for Bitcoin.⚠️ Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
24
BTC - Next Support...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉As per my last BTC analysis (attached on the chart), we know that BTC is currently in a short-term correction phase. The question is: till when/where? 📈From a medium-term perspective, BTC has been bullish trading within the rising channel in blue. Moreover, the orange zone is a strong demand. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the orange demand and lower blue trendline. 📚 As per my trading style: As #BTC approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
Bitcoin can rebound up from pennant to 71K pointsHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price rose to the current support level, which coincided with the support zone. After it reached this level, it some time traded near and even entered the support area, but then dropped to the buyer zone. Also, the price started to trades inside the pennant, where later, BTC rebounded from the buyer zone and started to grow. Soon, the price turned around and made a correction movement to support line of the pennant. After this, BTC turned around and made impulse up, making a fake breakout of the 60800 level. In a short time later, the price reached the current support level, broke it, and made a retest. Then it continued to grow until reached the resistance line of the pennant, after which, a not long time ago, it rolled down. So, at the moment, I think that the price can decline to support line and then rebound up, exiting from the pennant pattern. After this, I think BTC can continue to grow, for this case, I set my TP at 71000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
15
Bitcoin will break support level and continue to fall to 61800Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days reached the support level, which coincided with the buyer zone, but at once rebounded and declined a little below. After this movement, the price started to grow inside an upward channel, where it soon reached the 59000 level and broke it. Next, the price made a correction to the buyer zone and then continued to move up to the channel's resistance line, which coincided with the current support level and then turned around. BTC corrected the 59000 level, after which it rebounded and in a short time rose back to the 66300 level and some time traded near. Soon, the price broke this level and rose almost to the channel's resistance line, but recently it turned around and dropped to the support level, which continues to trade very close. In my opinion, the price can make a small move up and then continue to decline to support line of the upward channel, breaking the support level. That's why I set my TP at 61800 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
3
ETH BROADER TECHNICAL ANALYSIS AND TRADE PLANPrice Movement The chart shows that Ethereum (ETH) has been moving within a descending trading channel after an earlier uptrend. The channel is well-defined by a series of lower highs and lower lows. The descending channel extends from around early 2024 and continues through the current period. The price seems to be consolidating after bouncing from the lower boundary of the channel. Current Price Action Ethereum is currently trading at $2,582.26, down by 1.50% at the time the chart was captured. The recent movement shows a potential double bottom near the lower channel support, signaling a possible end of the downtrend. The price is at a critical juncture, as it appears to be breaking out of the short-term resistance within the channel, hinting at a possible reversal or continued sideways movement. Descending Channel Structure The chart highlights a descending trading channel where price has respected the upper resistance and lower support levels multiple times, indicating the reliability of this structure. The channel also shows that while Ethereum is in a corrective phase, it still holds the potential for a significant bullish breakout if the current trend continues. Technical Indicators: Waveform Cipher shows a potential bullish divergence at recent price lows, which indicates momentum for a potential upward move. ASL (Advanced Stochastic Line) and HMA Histogram show mixed signals, but the overall sentiment from these indicators points toward a bullish setup in the coming days. Stochastic RSI suggests that Ethereum is currently in an oversold condition, increasing the likelihood of a rebound. The technical setup with momentum indicators and divergences indicates a potential for a price breakout upward, possibly leading toward the top of the channel. Price Targets: Immediate Resistance: The next resistance level is located around $2,750 - $3,000, near the mid-point of the channel. Upper Channel Boundary: The top of the channel is situated near $4,000, a key psychological and technical resistance level. If ETH breaks above this channel, the next major target would be $4,250 - $4,500, indicating a full recovery of the downtrend and a continuation of the broader uptrend. Key Support Levels: $2,400 is acting as immediate support, which aligns with the lower boundary of the descending channel. If Ethereum breaks below this level, the next major support lies near $2,200 - $2,000, which is a strong historical support zone. Trading Plan for Ethereum (ETH) Current Market Position: Given the technical analysis, Ethereum appears to be at a critical level within the descending trading channel, with the potential for a bullish breakout. The recent consolidation near the support line suggests an opportunity for a medium-term bullish trade. Entry Strategy: Buy Zone: Enter a long position between $2,550 - $2,600, once confirmation of a bullish reversal or breakout is evident (preferably on increased volume or further confirmation from momentum indicators like RSI/Stoch). Risk Management: Place a stop-loss at $2,400, which is slightly below the channel support and key psychological level. This mitigates downside risk in case of a bearish breakdown. Take Profit Targets: First Target: $2,750 - $3,000 – This is the mid-point resistance of the channel. Partial profits should be taken here, securing gains while allowing the remaining position to run. Second Target: $3,500 - $3,750 – Full break of the channel with increased momentum can take ETH to this level. This is a key level to exit most of the position or lock in more profits. Stretch Target: $4,000 - $4,200 – Ultimate price target based on the potential bullish reversal. If price approaches this level, full profit-taking is advisable as it would hit the channel’s upper boundary and a significant resistance area. Alternative Plan (If Breakdown Occurs): Short Position: If Ethereum breaks below $2,400, consider shorting ETH with a target toward $2,200 - $2,000 as a corrective phase could push ETH lower. In this case, place a stop-loss at $2,500, just above the breakdown level. Position Sizing: Risk only a small portion of your capital (e.g., 1-2%) based on the calculated stop-loss level to ensure risk management and preserve capital in case of invalidation. Ethereum is at a pivotal point within a descending trading channel. Current indicators suggest the possibility of a bullish breakout, but risks remain due to the general downtrend. The trading plan focuses on a conservative entry with clear stop-losses and take-profit levels to manage risk.
CRYPTO:ETHUSDLong
by elfabiiani
Coinbase (COIN): Strong push ahead after Bitcoin surge!After our last analysis on NASDAQ:COIN two months ago, we saw another leg down into the golden pocket and the imbalances we were watching. These got partially filled, reaching around 50%, which provided the necessary strength for a push higher. This recent jump is largely due to Bitcoin's rise over the past weeks, as Coinbase, being a major holder of Bitcoin, has directly benefited from this positive development. This surge was strong enough to invalidate the bearish trend on the higher time frame, confirming that a bullish sequence is now in play. The biggest and closest resistance ahead is the VAH (Volume Area High) traded since November 2023. With the RSI currently overbought and showing a bearish divergence, a pullback could be on the horizon. However, we aren't too concerned about this unless the price drops below $160.50. The bullish outlook will only be invalidated if it dips under $145. One thing to note about NASDAQ:COIN is its heavy correlation with Bitcoin, which introduces more volatility. The crypto market is also playing a key role in the U.S. elections, with both Trump and Harris addressing the sector. This could provide some tailwinds for Coinbase in the future. In terms of the broader outlook, the potential wave ((iii)) could see a rise toward $263-$323, though this will take time to unfold. Given the market dynamics, it's better to remain cautious, but the setup looks promising. Overall, we continue to monitor NASDAQ:COIN closely, but we are more inclined to invest in Bitcoin itself due to the inherent correlation and volatility with the stock.
NASDAQ:COINLong
by freeguy_by_wmc