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LINKUSDT - Elliott Wave Analysis - BullishBINANCE:LINKUSDT LINKUSDT - Elliott Wave Analysis - Bullish Article: The price chart analysis of ChainLink (LINK) using the Elliott Wave Theory, with lines drawn by this indicator, highlights it as one of the cryptocurrencies to watch. The long-term (1-week) price chart of ChainLink (LINK) has shown a bullish movement since 2020, breaking through several key resistance levels and continuing to climb steadily. The structure created by the indicator's automatic line drawing clearly shows that we are potentially in wave 3 of a bullish trend while concurrently in wave C of a bearish correction. Therefore, we expect prices to reach levels at $86, $105, and $137 respectively. However, other factors should be considered when forecasting future price directions such as fundamental asset factors, technical factors, and economic conditions. The fundamentals for LINK are strong due to its popularity as a DeFi project with increasing real-world usage. Technical indicators support an upward trend. Factors supporting the upward trend for ChainLink include: Growth in real-world usage of ChainLink. Partnerships with new allies. Launching new products and services. Risks against the upward trend for ChainLink include: Global economic recession. Volatility in cryptocurrency markets. Competition from emerging technologies. Conclusion In summary, the long-term (1-week) ChainLink price chart indicates a robust upward trend, with expectations of breaking through key resistance levels, specifically at $53. Currently, the price is in an accumulation phase, poised for a soon-to-come upward adjustment. Additionally, it is noteworthy that the price has been consistently adjusting upward on a weekly basis.
Long
by hapharmonic
14
WAVES/USDT An Excellent Chance for a LONG Trading Opportunity!BINANCE:WAVESUSDT.P Recently, the weekly chart is trying to break a long-term resistance level. The price faced rejection at this resistance on the last three occasions, but now, we expect a breakthrough. After this breakout, a unique opportunity arises for a long trade with a potential target price in the range of 5 to 6 USD. #WAVES/USDT LONG 🍀 Leverage: 3x Entries: $2.5249 Take profit 1: $2.8586 Take profit 2: $3.8717 Take profit 3: $5.9554 Stop Loss: $1.1164 Stay tuned for trade confirmation and additional updates. Feel free to express your thoughts by liking and sharing in the comments section:) Thanks The sroced.
WLong
by srocedtrading
GBPJPY) 4H) tame frame ) analysis)Speculation about when the Bank of Japan will end its negative interest rate policy (NIRP) has been rife, but seen as more likely to come in January than December. Price action in JPY-related FX option markets isn't offering many clues, with increased demand and high volatility risk premiums for both meetings, and also for a speech by BoJ Governor Kazuo Ueda on Dec. 25. Deutsche shares sentiment with other banks who expect the Bank of Japan to maintain its current monetary policy framework in December, while hinting at an end to the NIRP at its Jan. 23 meeting. Deutsche attribute a 60% probability to hints being made. In terms of fundamentals, Deutsche believe that ending NIRP in January is appropriate because the forecast in the outlook report will change since the data already imply a virtuous circle in wages and prices. In terms of practicalities, it is because financial institutions would have sufficient time to prepare for it. Deutsche suspect that the BoJ will hint at the upcoming policy revision by including some key points in its statement; that it will assess and confirm the virtual circle between wages and prices by the January meeting, with the results to be published at the same time as the outlook report; and that, as a result of this assessment, the policy revision will be judged appropriate and it will continue to emphasize an accommodative policy stance and stable JGB markets even after the revision. Overnight expiry FXO implied volatility
Short
by SMC-Trading-Point
2
Double Top (Bearish) analysis)🗺️🗺️Hello traders what do you think about gbpusd traders gbpusd now see a double Top (Bearish pattern channels In trading.a double top pattern is a bearish chart pattern that indicates a potential trend 📉 reversel from an uptrend to a downtrend lt is characterized by Three conservative peaks (or highs) that are approximately equal; following by a price breakdown below a support levels. key levels 1.24922 key levels 1.242111 key levels 1.23599 First Top: The first top is firmed as the price rallies to a certain level and then retraces.lt represents a resistance levels where selling pressure begins to outweigh buying pressure. Decline and pullback: After the first top.the price decline but subsequently rallies back up. the pullback creates the formation of the second top. which is also approximately equal to the first top.🧠 Breakdown: The breakdown occurs when the price break's below the neckline indicating a potential trend reveal and the Start of a downtrend. traders often look for increased trading volume accompanying the the breakdown as confirmed signal. The double ⏫ too pattern suggests that the buying pressure has exhaust and sellers are stepping in leading to a potential reversal of the previous uptrend the pattern is considered complete and confirmed when the price break's below the neckline. triggered a bearish signal. Trader's often use the height of pattern (measured from the neckline to the Tops) to estimate a potential price target for the downward move after the breakdown. Additionally. some trader's may apply other analysis tools as Fibonacci retracement levels or moving averages to further validate the pattern and identify potential entry or exit point's. As with any chart pattern it's important to use the double top pattern in conjunction with other technical indicators and analysis mathods to increase the probability of successful trader's and to account for any potential false single 🙏
Short
by SMC-Trading-Point
Gold retest 2051) down 👇)2000) confirm zooon)💥💥Hello traders what do you think about gold ? Gold break support levels) now gold retest same time rsl) 2051) same) back down 👇) Support levels 2000) I know) Dxy index ☝️ back up rsl 104. Gold ticks up on weaker US dollar, bond yields Dec 5, 202311:36 GMT+5 KEY POINTS: DollarDXYindex down 0.1% Gold may test support of $2,009 per ounce - technicals Investor focus shifts to US non-farm payroll on Friday Gold prices rose on Tuesday as the U.S. dollar and Treasury yields fell after traders slightly pared bets for an interest rate cut by the Federal Reserve in the first quarter of 2024. Spot gold GOLD gained 0.2% to $2,032.70 per ounce by 0750 GMT. Bullion had surged to an all-time high of $2,135.40 on Monday, before dropping more than $100 in a single day to close 2% lower. U.S. gold futures GOLD for February delivery rose 0.5% to $2,051.70. Making gold less expensive for other currency holders, the dollar index DXY fell 0.1%, while yields on 10-year Treasury notes US10Y slipped to 4.2375%. Investors are awaiting the closely watched U.S. non-farm payrolls data on Friday, which could help further gauge the interest rate outlook. Lower interest rates reduce the opportunity cost of holding non-interest-bearing bullion. Gold ticks up on weaker US dollar, bond yields Dec 5, 202311:36 GMT+5 KEY POINTS: DollarDXYindex down 0.1% Gold may test support of $2,009 per ounce - technicals Investor focus shifts to US non-farm payroll on Friday Gold prices rose on Tuesday as the U.S. dollar and Treasury yields fell after traders slightly pared bets for an interest rate cut by the Federal Reserve in the first quarter of 2024. Spot gold GOLD gained 0.2% to $2,032.70 per ounce by 0750 GMT. Bullion had surged to an all-time high of $2,135.40 on Monday, before dropping more than $100 in a single day to close 2% lower. U.S. gold futures GOLD for February delivery rose 0.5% to $2,051.70. Reuters Graphics Thomson Reuters Spot gold price in USD per oz Making gold less expensive for other currency holders, the dollar index DXY fell 0.1%, while yields on 10-year Treasury notes US10Y slipped to 4.2375%. Even after the dramatic moves in gold prices over the past 24 hours, "for now, the overall trend for gold still looks bullish," said Ilya Spivak, head of global macro at Tastylive. A wave of profit-taking seems to have been triggered after gold rallied at the weekly open, to catch up to Fed Chair Jerome Powell's dovish comments from Friday, along with "pre-positioning ahead of this week's event risk," added Spivak. However, traders have lowered their Fed rate cut bets by March next year to about 60%, from 70% on early Monday, CME's FedWatch Tool shows. Investors are awaiting the closely watched U.S. non-farm payrolls data on Friday, which could help further gauge the interest rate outlook. Lower interest rates reduce the opportunity cost of holding non-interest-bearing bullion. The Middle East conflict and the fear of it spreading has driven money into the yellow metal, said FXCM market specialist Russell Shor. Spot gold may test support of $2,009 per ounce, a break below which could open the way towards $1,980, according to Reuters technical analyst Wang Tao. ❤️ Plaes like and comments My trading ideas 💡 thanks 🙏 for your support)
FOREXCOM:XAUUSDShort
by SMC-Trading-Point