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BTC Faces 60K Resistance: What’s Next?GM Crypto Bro's, this morning BTC still hasn't managed to close the daily candle above 60K. The fear and greed index currently sits at 28 (fear), while the stoch RSI is lingering around the overbought area. In terms of price action on the H4 timeframe, BTC has a chance to continue its correction to around the 57K - 56K area. If BTC pumps after this correction and closes above 60K, the chance for a move to 64K - 65K becomes stronger. But keep in mind, the market is dynamic—don’t be caught up in FOMO, stay safe, keep calm, and always remember that anything can happen in the crypto market. Always manage your risks, and as always, that’s all for today’s crypto update. I’m Akki, signing off. Have a nice day.
INDEX:BTCUSD
by x_Akki
#CORE/USDT#CORE The price is moving in a bearish channel on the 4-hour frame and is largely sticking to it The price rebounded well from the green support area at the 1.50 support level, which is a strong level We have a trend to hold above the Moving Average 100, which is strong support for the rise We have very strong oversold resistance on the RSI indicator to support the rise with an uptrend Entry price is 1.60 The first goal is 1.84 Second goal 2.10 Third goal 2.40
Long
by CryptoAnalystSignal
Detailed BTC analysis Hello everyone, I invite you to an overview of the long-term situation for BTC. We will check what the pre-halving situation looks like and what we can expect in the coming time. At the beginning, we will turn on the indicator determining the dates of halvings and the color marking of the path along which the price is moving. We will focus on the current cycle and the previous one, starting by marking the ATH for the price that was achieved in 2017, and then we will mark the ATH achieved in 2021 in the same way. It is worth emphasizing here that 525 days passed from the halving in 2016 to the price peak in 2017, while 546 days passed from the halving in 2020 to the price peak in 2021, which gives a very similar time frame. Taking this into account, we will check how many days it took the price to reach the bottom after ATH in 2017, and here we can see that this period of declines lasted 364 days, which is very interesting that the period of declines from ATH in 2021 to reach the price bottom also lasted similarly - 376 days. Such behavior confirms high repeatability in subsequent cycles. Next, we will go back to the previous cycle and check how many days before Halving in 2020, the pre-halving correction began. And as you can see, the price started correcting 91 days before the halving. So let's go back to the current cycle and here we can also see that we are about 98 days before the halving starts. Looking at the repetitions that occur in cycles, we can expect a price recovery this time. It is worth keeping in mind that corrections in the cycle are usually around 20 to 40%, while the one in the previous cycle resulted in a much greater decline caused by the panic that occurred due to the most famous disease, COVID. Returning to the previous cycle, we will spread the Fib Retracement saitke from ATH to the bottom, thanks to which we will be able to see that the price has its peak before the halving at the level of approximately 0.618FIB. However, returning to the current cycle, we can see that the price is also approaching the previously mentioned level of 0.618FIB, which may also result in a price recovery. Additionally, we can see that the price path is currently changing to a very orange color, which also coincided with a rebound in the previous cycle. In a situation where a correction of around 30% would begin, it would result in a price drop to around $30,000. However, in order to take a closer look at the current situation, it is worth taking a closer look at the current cycle in which we start by determining the current upward trend line along which the price is climbing upwards using the yellow line. Going further, let's take into account the entire movement from ATH to the low and unfold the fib retracement grid, which will again indicate the 0.618FIB point as a strong resistance, which in this situation is at around $48,900. Which indicates that we may still see an upward move, although the previous rally that occurred after the new year was quickly extinguished by the announcement of the postponement of the decision on the issuance of the Spot ETF for BTC. Only after a positive break above this resistance, the price will be able to move towards a very strong resistance zone from $57,707 to $69,581, where the previous price peak is located. Next, we will check the support levels again by spreading the fib retracement grid, this time from the bottom to the current high. And here the first important support point is visible at the level of $34,667, while the next very strong support level is $27,205. However, here it is worth spreading the grid again, taking into account the recent upward movement, thanks to which we can determine a very strong support zone between the previously determined levels, from $33,151 to $29,597. This zone could result in a correction of approximately 30%. Please now look at the RSI indicator because you can see a movement near the upper limit of the range, which may result in the price reaching the previously mentioned resistance, but it is worth taking into account a possible recovery. Further, the STOCH indicator also shows that we have been moving above the upper limit of the range for a long time, which may also translate into a correction and healthy cooling of the market and indicators. In such a scenario, we can assume the appearance of future price movements, taking into account the postponement of the decision on the ETF for BTC. The situation could change dramatically when the SEC issues its final decision on the ETF, as a positive decision could result in huge gains, but a rejection could also bring the price to very low levels.
COINBASE:BTCUSD
by cryptodailyuk
LTC/USDT 4HInterval in correctionI invite you to review the LTC chart in pair to USDT, so on the four-hour interval, we will mark the downtrend channel in which the price is moving with blue lines, but here we can observe that during today's review we are witnessing a strong market rebound. Moving on, we can move on to marking the support areas when the initiated correction begins to deepen. And here, the first support that is currently holding the price is at $77.61, the second support is at $74.9, the third support is at $72.71, and we still have support at $70.46. Looking the other way, we see that we need to go through a big strong resistance zone from $79 to $83 first, then we have resistance at $85.17 and then move towards $91.41. Please look at the CHOP index, which indicates that a lot of energy has been collected, MACD indicates that despite the correction, we maintain a local uptrend, while the RSI after today's increase is a strong rebound.
by cryptodailyuk
Palladium Looks Promising for further upside Hello everyone: Commodes such as XPD has been pushing up steadily in the last few months, and further upside is very possible. Here we can see the higher time frame of Palladium. After price made a sharp impulse move, it falls into a larger structure. With a swing highs and lows, double tops, and reversal bullish price action in the lower time frames to impulse up. Now price is forming another continuation, watch for this completion as a confirmation for more upside move to the top. Thank you
OANDA:XPDUSDLong
by jojofang0901
12
DJI WEEKLY - FIB RETRACEMENT - CORRECTION MODE - MEGAPHONEFollowing along with the MEGAPHONE theme from a previous chart taking the first touch of the MEGAPHONE TOP, as the top. Being a weekly chart, we need to see the weekly close below the RIBBON for CONFIRMATION that we are indeed heading into a period of CORRECTION. Given that the FEDERAL RESERVE will meet next week and have already stated that they will not move in to bolster the stock market I hazard a guess that the DOW will continue its current downward trend. As we all know the FED is slow to respond as that is the nature of the data cycle, they are at least 3-6 months behind real-world. We also need to keep in mind that the FED is an INFLATION fighting mode which means they will be announcing a rate rise of 25 basis points at the very least for a MARCH START, which the market has already priced in. My gut feeling is that they need to raise rates by 50 basis points to douse inflation, which the market has not priced in. We have a CHINESE NEW YEAR coming up and harsh WARNINGS FROM the WEF and DAVOS. Take care and stay safe. NOT FINANCIAL ADVICE
TVC:DJIShort
by alphamindset
ETHEREUM close to channel resistance 🧨Here the price broke the the previous ascending channel and made a new descending channel ✔ and now the price is close to channel resistance and we expect correction for the price and our target are located on the chart 🧨❌ second possibility the price start to break the channel resistance here and if satay above this line we can expect gaining for the price 🚀 This is not financial advice, always do your own research. please, fell free to ask your question, write it in comments below and I will answer. 🐋
by MadWhale
6
daily head and shoulders for USDJPYas you can see here we have incomplete daily head and shoulders and the price here is close to trend line near the the shoulder resistance so we expect correction for the price at least to 112.80❌🧨 and 112.80 is sensitive support area for the price so if the price breaks the 112.80 ( head and shoulders neck line ) and stay below this area we expect more dump for the price ❌🧨 This is not financial advice, always do your own research. If you have any questions fell free to ask, you can write it in comments below and I will answer.
Short
by MadWhale
4
GBPUSD pt. 1In the morning (in my country) I posted the H&S idea, which went really well and pattern for me is now complete. To find out what will/can happen next I looked also on USD index chart. So what I'm seeing now. This H&S up move, right now looks like a corective wave, which is strugling to break past fibo 0,236 level. I entered sell order with thight SL. For now I expect price to test bottom black line of the falling wedge, that is the idea for whole week. I'll update this idea, just like all the other. Good luck. P.s. It looks pretty much the same on EU chart.
Short
by EdgarsFX
Crude oil correction wave happening!!Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Oil hit a five-year high near $84 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched. The market and different technical indicators currently are giving a lot of signs that this Bullish push is overextended which could lead to a correction move in the near future. Possible Scenarios for the market : Scenario 1 : a correction wave is due and it will probably start by a drop in price that will lead the Crude price back to the first support zone located near the $80 area where the Bulls power will be tested, If the bears were able to beat the Bulls at that level then we could be seeing a further drop that will reach the $75 - $76 level. Scenario 2 : the global energy shortage has caused a push in oil prices recently and a solution for that problem hasn't been found yet. So after the correction wave happen the Bulls will go in to try to push the price back up and when that happens, the market will be moving to the first resistance line located at $84.98, and in case a breakout happens from that line then a further push will happen to reach the $87.93 level Technical indicators show : 1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign) 2) The RSI is at 71.38 reached the overbought zone, which indicated a correction is due, with no divergences found between the market and the indicator. 3) The STOCH is moving in the overbought zone which could indicate a drop soon, With a negative crossover between %K and %D. Daily Support & Resistance points : support Resistance 1) 82.30 1) 85.27 2) 80.36 2) 86.30 3) 79.33 3) 88.24 Fundamental point of view : Oil prices have eased in Asia after China’s threat to cap coal prices saw the mainland coal futures slump limit down once again today. That has unwound some of oil’s gains overnight after Saudi Arabia poured cold water on more OPEC+ production, oil or gas, and US official Crude Inventories, Gasoline and Distillates fell sharply, including crude stocks at the Cushing hub. WTI jumped 1.33% to USD 83.50 overnight, testing USD 84.00 a barrel intraday. In Asia though, it has fallen 0.50% to USD 83.10 a barrel. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
TVC:USOIL
by GabiDahduh
2