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Correction

Pfizer (PFE): Shocking Downward Spiral - $11 Target In Sight?Pfizer (PFE): NYSE:PFE At Pfizer, we believe that Wave (2) has not yet completed because Wave B precisely hits the 138% level and structurally does not make sense unless we see a breakthrough of the invalidation zone of the potential subordinate Wave (i) at about $41.62. However, we must form at least a double bottom at $11, which is our minimum expectation for Pfizer. For the downward movement, we need to examine more closely how far it can actually fall, but $11 is our minimum expectation. The only scenario that would make sense here might be a short position for a possible subordinate Wave (iv) between $36.9 and $41.62. Subsequently, for the overarching Wave ((iii)), we expect another decline to a minimum of $22.64 and, in our opinion, a maximum of $9.56. Entering a long position could be too risky over a longer period. For those looking to trade in the short term, there might be a bottom at $25.61, leading up to the potential target zone for Wave (iv). After that, we expect the downtrend to continue, and personally, we are not positioning ourselves long due to the significant risk.
NYSE:PFEShort
by freeguy_by_wmc
🌙 Beware the Bearmoon: Bitcoin's Rising Wedge Signals $56-57k 📈 Bitcoin has recently exhibited a rising wedge pattern on the 4-hour chart, indicating a potential correction in the near term. This pattern is characterized by converging trendlines forming higher highs and higher lows, signaling a weakening momentum and a potential reversal. 🔍 💲 As of the time of writing, Bitcoin is trading at $68,200, and based on the formation of the rising wedge, a measured move suggests a correction towards the $56,000 to $57,000 range. This projection is derived by measuring the widest part of the wedge and extending it downwards from the breakout point. 📉 🌙 Furthermore, tomorrow marks a new moon, which historically has shown a correlation with downward price action in the cryptocurrency markets, colloquially referred to as "bearmoon." This phenomenon is often attributed to a combination of factors including options expirations and human psychology, leading to increased selling pressure and market volatility. 🐻 📊 Adding to the confluence of indicators, daily indicators also support the notion of a correction towards the projected range. Combining technical analysis with lunar cycle patterns and other indicators strengthens the case for a potential downward movement in Bitcoin's price. 📉 💼 Traders and investors should monitor price action closely, keeping in mind the identified levels and factors influencing market sentiment. Risk management strategies should be implemented to mitigate potential losses in the event of adverse price movements.🛡️
INDEX:BTCUSDShort
by Shibunacci
1
Bitcoin: has the pullback finished?Today's focus: BTCUSD Pattern – failed high? Support – 63,140 Resistance – 68,290 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the BTCUSD daily. After yesterday's fightback rally, we have run over a few ideas around BTCUSD. Will we see the current selloff continue despite a firm move from buyers yesterday? Will we see buyers shake off a push by sellers and follow up on yesterday's buying with further gains? Good trading.
EIGHTCAP:BTCUSD
by Eightcap
The trendline on the btcusd weekly.The trendline had its importance, the price crashes into it and retraces, I hope only in the short term, otherwise I may have done the math wrong. There is. Nobody knows the future and technical analysis is the study of the past, therefore the probability that this ongoing movement is a short-term correction is high, for the simple context in which we find ourselves I made this reasoning, an all-time high and then a pullback, I think it's textbook. I also noticed an interesting date like March 29th, on that day there will be a very large number of options expiring, I don't know if it's related but given the amount of BTC in question, I think it's important to keep this in mind. The weekly candle that just closed the day before yesterday is a clear indecision candle drawn on a dynamic resistance like the trendline we see on the chart. So once the strength of the bears has run out, the bull could come back and perhaps even very violently until the intermediate correction, usually longer than 3/4 weeks, unless this is in progress, in which case the scenario would change slightly, but the underlying trend would remain clearly bullish.
BITFINEX:BTCUSD
by Melupira89
Polkadot (DOTUSD): The End of an UptrendPolkadot (DOTUSD): BINANCE:DOTUSD Polkadot appears to have completed Wave (2) with a notable level of certainty. Upon further analysis, it increasingly seems we're witnessing an ending diagonal pattern. This indicates the potential conclusion of the current uptrend shortly, leading to a corrective downturn for Polkadot. While Wave 1 could theoretically extend to $12.82, such a scenario appears less probable. The key factor now is whether we can breach the trendline. Should we remain confined within this diagonal pattern, a prompt downward shift may be expected. For Wave 2, our strategy involves repositioning within the 50% to 78.6% Fibonacci retracement zone. Yet, we must wait to detect any signs of weakness in Polkadot before making our move, as navigating decisions amidst its ongoing bullish momentum presents a considerable challenge.
BITFINEX:DOTUSDLong
by freeguy_by_wmc
4
Bitcoin Mid-Term Analysis4H Timeframe: Bitcoin broke through the $70,000 area and pulled back, forming a lower low and a lower high. These are the first signs of a trend change in the medium term. Based on this analysis, the first target for this correction is the $63,000 area and the second target is the $61,000 area. Weekly Timeframe: Bitcoin is still in an uptrend in the weekly timeframe. Therefore, caution should be exercised when taking a short position. Long-Term Trend: The price trend in the long term is strongly bullish. Any price drop at this stage could be a good opportunity for traders to re-enter and could be just a correction. Historical Precedent: In previous Bitcoin cycles, there have been corrections before halvings. Therefore, it is not unexpected that this will happen in this cycle as well. Disclaimer: The analysis provided here is for informational purposes only. You are solely responsible for the consequences of any trades you make based on this information.
Short
by CryptoPuzzle
Are MEME Coins getting oversold ?The recent rally has come to an end as you all can see but is this a buying opportunity or a sign of things to come? Key points: ]MEME coins are experiencing a pullback. This could last days or even weeks. Coming price action will tell. Fibonacci levels (100%, 127.2% , 161.8%) could be potential entry points. These levels represent historical support areas where the price might bounce if we are in fact in a 3 wave Flat correction. The long-term trend might still be bullish. This pullback could be a healthy correction within a larger uptrend. I'm waiting for a LOW RISK buy point. This means waiting for the price to reach these key Fibonacci levels before even considering entry. Be cautious! The high volatility in MEME coins is extremely risky and could wipe out your account in minutes . Don't jump in blindly, wait for a good low risk entry point !! What do you think? Is this a buying opportunity for MEME coins or a sign of a larger correction? Let me know your thoughts!
by ElliottWaveBelgium
📉 BTC Correction Analysis 📉Current Status: BTC faced rejection near $73,000 and has initiated a corrective move, which is healthy after its rapid ascent in recent months. Key Support Levels: $65,000 $60,500 $56,500 Potential Scenario: This correction might unfold gradually over the next few weeks. Expect relief bounces amid the descent, during which altcoins could outperform BTC. 📊 Implications for Trading: BTC Trading: Watch for potential bounce opportunities at support levels. Altcoins: Altcoins may exhibit stronger performance during relief bounces. Risk Management: Exercise caution and adjust positions based on market dynamics. 🔍 Monitoring Approach: Stay vigilant for signs of market sentiment shifts and adjust trading strategies accordingly. Monitor BTC's behavior at key support levels and be prepared to act based on emerging patterns.
by Richtv_official
1
Bitcoin might go down even more perfect time to buy altcoinsBINANCE:BTCUSDT what i see from the situation here we may be in a down trend for some time. but i think this correction is a great opportunity to buy some altcoins as bitcoin cools off a bit . i can't say precisely how much more we go down but the low 60k$ to high 50k$ range is not out of the equation. but we will pump fast and hard when this correction ends and alts will most probably fly and explode . so stack some bags while we have a chance . if you want to know what altcoins i personally buy send me a private message and i will curate a personal portfolio in accordance to your capital .
CRYPTO:BTCUSD
by Atlas_Tradingclub
Tesla - Confirmed BreakdownHello Traders, welcome to today's analysis of Tesla. -------- Explanation of my video analysis: For more than three years, Tesla stock has been trading in a bullish flag formation. Two months ago Tesla once again retested the upper resistance trendline and failed to break out towards the upside. There are two major support levels below current market price which I do expect Tesla to retest. Then you can absolutely consider long setups again on Tesla stock. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
NASDAQ:TSLA
by basictradingtv
9
Nasdaq (NQ1): The Grand Finale!Nasdaq (NQ1): CME_MINI:NQ1! Examining the Nasdaq on the daily chart, it appears we may have indeed reached the final level of the potential primary scenario Wave 3 at the 461.8% extension, which is around $18,400. Now, we should be entering a Wave 4. If we continue to rise beyond this point, we might consider an alternative scenario where there is a bit more room to extend upward before developing Wave 5 as a Wave 5 extension, possibly around $19,500, marking our maximum in this scenario. Thus, there are two scenarios, but we primarily lean towards the scenario that we are currently experiencing Wave 3, not Wave 5. Consequently, we anticipate a downturn to at least $15,500 minimum, up to a maximum of $14,140, the subordinate Wave ((iv)) level. This is the maximum level we expect to reach with Wave 4. We should definitely see a stronger corrective movement downwards before the final impulsive Wave 5 ascends. If we begin to see the first signs of weakness, we will consider establishing short positions on shorter timeframes, but until then, we will wait and observe.
CME_MINI:NQ1!Short
by freeguy_by_wmc
The weekly on btcusd.An old trendline drawn on long-term cyclical lows, today seems like a good resistance where perhaps the price will have a small moment of pause, perhaps in the short term (3 weeks - 1 month). Last week's closing above the historical highs or in any case in that area also seems to give continuity to the bullish trend, but here now it is more important to try to understand the signals that could lead to a short-term correction or the more important one in the intermediate period. Understanding in time when the price will be in intermediate correction, as we have already seen in the past, becomes essential to recharge or get on the train which at this point only an unexpected catastrophe could stop. With this I don't mean to say that the time has come to sell, but quite the opposite, this is a good time to take advantage of a share for those who already have huge percentages in their portfolio, otherwise there is nothing to do, just wait for the possible corrections and buy. Today it's easier to say, it's true, I was lucky enough to get a lift in time which then proved to be the right one, except that if we didn't follow our experience, we'd be complete asses.
BITFINEX:BTCUSD
by Melupira89
DXY Is Ready To Resume Lower: Elliott Wave Intraday AnalysisUSDollar Index - DXY is falling due to lower US Yields and we have been talking about that in the previous articles. There can be actually room for much more weakness, but on the intraday basis, we see room at least for one more leg down towards 102.00 level or lower. We have seen some intraday recovery recently, but looks like a clear corrective movement in wave (4) from Elliott wave perspective, which can now send the DXY lower for wave (5).
ICEUS:DXYShort
by ew-forecast
Amazon - Break And RetestHello Traders, welcome to today's analysis of Amazon. -------- Explanation of my video analysis: In 2020 Amazon created a beautiful triangle breakout which was followed by a +75% rally and then a -50% correction. After the correction was over, Amazon perfectly retested a confluence of support and reversed aggressively towards the upside. Considering that Amazon just rallied 100%, I am now just waiting for a retest of the structure mentioned in the analysis. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
NASDAQ:AMZN
by basictradingtv
9
A purely speculative hypothetical cup & handle possibilityBitcoin just hit a new all time high against the USD pre halving! The bitcoin spot etfs have shifted the paradigm and we now find ourselves in unprecedented times. Considering that, for all I know the correction may have already seen the lowest it will go before we resume bull, but if history can tell us anything, it’s that it’s very common to see multiple 30-40% dips here and there during the bull market and this very well could be the beginning of one of those corrections. If so, a 40% dip could take price roughly back to the 40k one,, which would be a convenient zone for it to correct to as it would likely retest the weekly 50ma there as they would probably be both arriving at 40k around roughly the same time, that would be an excellent place for a bounce, of course should a black swan event occur sometime near there we could even see an unexpected flash crash wick even further below that maybe even 50-60% but the probability of something like that is much much smaller. If we were to correct the usual 30-40% or even let’s say we start having diminishing corrections and only correct 15-25%, in doing so, we will actually be simultaneously forming a handle to the text book picture perfect cup bitcoins price action just finished forming once it reached the new ath. Because of the possibility of such a hypothetical scenario currently being in. Play,I went ahead and drew a rough guesstimating of what I would expect the handle to look like should we form one here. Again, this is a completely arbitrary guesstimate, so if we do form one, it could be much smaller than the one I’ve randomly drawn here in red. Whether it takes shorter or longer for us to finish the handle if one does form, should not alter the potential breakout target that it would have by much, and as we can see if we broke out around the time the rough estimate one I have drawn ends the target should be well over 120k. Because of the zone where price action has recently gone and now been rejected from is so close to our previous ath zone, we also now on the bearish side of things have. Potential triple top in play. We went up in price at such. Fast and hyperparabolic rate that the argument for this being the bull markets blow off top is actually a possibility, a very slim, low probability possibility, but still a possibility none the less, in which case, the triple top argument is able to at least be a possibility. Which is perfect for the whales and market makers because that will sew just enough uncertainty in the market that when we do get to the bottom of the current correction you will probably have permabears coming out of hibernation to claim the bull market top is already in and we are going much lower. However, I personally don’t think the top is in because we never got the signal on the pi cycle top indicator. I plan on taking d vantage of any correction we get here by accumulating, laddering in small buys around 20%, 30% , and then slightly bigger buys at 40% if we get it. Also if we’re lucky enough to get some sort of 50-60% flash crash from a black swan I will ladder in even bigger buys then as well. If somehow we were to get a flash crash that went as deep as 80% - 90% at that point then I would have to consider that it was a bull market top, however that would then mean that the follow up bear market freeware’s would be extremely short lived and we’d be right back into the bull market. High has never happened before, but hey, with thee new bitcoin spot etfs approved a lot of unprecedented price action is suddenly possible. Again this whole cup n handle idea in the first place isnt set in stone yet and theres. Chance we’ve already had our full correction even. I think judging by the past in btc’s history, the most likely thing to occur here though would be a 30-41% correction. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
14
Microsoft: Strategies for Correction 🛠️Microsoft (MSFT): NASDAQ:MSFT We remain steadfast in our primary scenario for Microsoft , which suggests a significant correction is underway. Thus far, there have been no deviations from this expectation. Upon closer examination of the 2-hour chart, we observe that the subordinate Wave (B) precisely reached our targeted 127-138% retracement levels. We now anticipate a similar overshooting movement downwards, surpassing Wave (A), towards Wave (C), and subsequently the overarching Wave (a). Unless we breach the $420 to $422 level, we do not foresee a continuation of the upward trend. A broader view on the two-day chart indicates that Wave 5 should ideally conclude at the 61.8% extension, implying a possible rise to $430. However, this is not certain. If we are experiencing a flat correction, the outcome could exceed this level depending on the origin of Wave A. Nonetheless, a subsequent downturn should be expected unless we surpass the corresponding 138% level. The precise location of the 138% marker remains undetermined until we establish the position of Wave A, which we currently project to align with Wave 4, around the $160 to $175 level.
NASDAQ:MSFTShort
by freeguy_by_wmc
XVS Cryptocurrency Analysis: Uptrend Continuation or Correction This analysis examines the current state of the XVS cryptocurrency and assesses its potential future direction. Technical Analysis: Battling Weekly Resistance: XVS is facing a significant hurdle at the weekly resistance level, which could determine the course of its future trend. Escaping the Accumulation Box: The recent breakout from the daily accumulation box marked a notable 80% surge. Insufficient Rest Calls for Correction: The current uptrend lacks sufficient retracement, which is typically necessary for sustained upward momentum. Key Support and Resistance Levels: Support: The blue trendline support acts as a critical barrier, with a breach potentially leading to a retracement towards the previous weekly resistance. Resistance: The next weekly resistance level presents a significant obstacle for further upward movement. RSI Indicator: Overbought Territory: The RSI indicator is approaching the overbought zone, suggesting a potential correction. Momentum Confirmation: A break above the overbought threshold could signal strong upward momentum. Lower Timeframe Analysis: 4-Hour Timeframe: A more detailed analysis on the 4-hour timeframe provides a clearer picture of the current price action and potential support and resistance levels. Conclusion: The XVS cryptocurrency is at a critical juncture, with the outcome of the battle at the weekly resistance level determining its future direction. A correction is likely before further upward movement can occur. but considering decreasing the volume the out come might be different. This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research and employ sound risk management practices before trading.
Short
by solinash1
Bitcoin Long-Term Analysis: Bullish Breakout or Mid-Bull Market Bitcoin Long-Term Analysis: The chart illustrates Bitcoin's (BTC) monthly price action within an ascending channel since 2017. The red vertical lines indicate instances when the monthly RSI entered the overbought zone, historically coinciding with mid-bull market phases. At $75,000, BTC will encounter the channel's midline . A breakout and consolidation above this area could propel the price towards the channel's upper trendline, potentially reaching $300,000 depending on the timing of . Currently, most indicators on lower timeframes show overbought conditions, suggesting a probable correction after BTC reaches the channel's midline. Further analysis on lower timeframes will provide more insights into potential corrective movements. Please note: All analysis provided here is for informational purposes only and should not be considered investment advice. You are solely responsible for any investment decisions based on this information.
COINBASE:BTCUSDLong
by CryptoPuzzle
2
MINA Analysis: Potential Correction, SELL or BUY Setup?!🍣📈Weekly Channel Breakout and Retest: MINA previously broke out of its weekly channel and reached its target successfully. The recent breakdown below the channel indicates a loss of bullish momentum and potential for a retracement. 🔍📉Corrective Phase and Resistance Levels: If MINA undergoes a correction, it is likely to retrace upwards until reaching its weekly resistance level. A rejection at this resistance level, coinciding with the RSI reaching the daily blue resistance line, could present a selling opportunity. 🚫Early Sell Setup and Risk Management: A sell position could be initiated early at the current price level (below the lower channel line) using the red trigger line as confirmation. Trailing the stop-loss to the lower support zone can help mitigate risk and maximize profit potential. ✅Important Considerations✅ The overall market trend should be taken into account before executing any trades. Confirming the reversal with additional technical indicators and market sentiment analysis is essential. 🚫This analysis is for educational purposes only and should not be construed as financial advice. Always conduct your own research and employ sound risk management practices before trading. 🚫
by solinash1
2