ETHUSD: Support bounce to start a new move higher? Today's focus: ETHUSD
Pattern – Divergence, demand bounce.
Support – 1538
Resistance – 1647
Thanks for checking out today’s update. Today, we have run over ETHUSD, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis.
ETHUSD continues to build after sellers look to have formed a washout bar retesting support and demand seen at 1538. Since that test, we have seen buyers quickly jump back into the market, lifting price back up to resistance. We also can see divergence forming supporting the buying, but the pattern is not a classic example but still worth noting.
If we continue to follow a bullish line, we want to see buyers break resistance and test the main trendline. If we see a reaction lower, it is fine for it to move back into the previous resistance as long as we see a new higher low with firm buying. A move back to support is a worry, and a break of that level could set off a new push back down to 1422.
Have a great day and good trading.
Cryptocurrencytrader
API3 retest below 0.9?Hello friends, I don't know what the condition of BTC will be and whether we will really test lower levels and GAP around 22-20k, however if so I expect something similar with API3.
It's clean, SL above breakout and profit in two parts + be patient.
Of course, I'll explain the situation you described in English.
An ascending triangle is a technical analysis pattern used in trading various assets, including cryptocurrencies. It consists of two trendlines: one is a diagonal trendline connecting the highs of price points, and the other is a horizontal level representing a certain resistance or support.
The drop in the price of the API3 cryptocurrency from the ascending triangle and the subsequent testing of the ascending trendline can have a few implications:
Breakout of the Ascending Triangle: A drop in price outside the triangle pattern can signal weakening demand or a change in trend. If the price of the API3 cryptocurrency fell below the lower diagonal line of the triangle, some traders might believe that the ascending trend has been disrupted and a price decline might follow.
Testing the Ascending Trendline: After breaking out of the ascending triangle, the price might attempt to test the previously diagonal trendline as a new resistance level. This is a common scenario; if the price doesn't stay above this line, it could confirm that the earlier upward trend has been broken.
Expectation of Price Decline: From your explanation, it seems you expect the value of the API3 cryptocurrency to decrease. This expectation could be based on technical analysis, where you observed the breakout from the ascending triangle and the subsequent testing of the ascending trendline. This might suggest that the market lacks the strength to sustain the price at a higher level and a decline could follow.
SUI/USDT Correction Over or Not? SUI Analysis Today 💎Paradisers, let's focus on SUI/USDT! Currently, it's navigating within a defined range, and we're forecasting an upward surge in the near future.
💎If the anticipated breakout unfolds successfully, expect it to ignite a rapid upward rally. However, keep a close eye on the demand zone, as there's a bullish Order Block (OB) situated just beneath it. If the price dips below the demand zone, it's likely to target the liquidity found at that bullish OB.
💎It's crucial to note that we've identified two confirmed order blocks in shorter timeframes. Given the existing liquidity, the price is poised to hit these levels.
💎In a previous cycle, demand morphed into supply, triggering a notable price decline and aiming for the earlier OB.
💎In the ever-evolving world of crypto, staying up-to-date and flexible is your key to success. Keep your charts updated and stay tuned for more insights. Happy trading!
$PERL Performing Falling wedge in 1D Keep eye on Breakout Falling Wedge
The falling wedge can either be a reversal or continuation signal.
As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next.
As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern.
In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows.
Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows.
If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips!
A good upside target would be the height of the wedge formation.
If you want to go for more pips, you can lock in some profits at the target by closing down a portion of your position, then letting the rest of your position ride.
$DATA in Bouncing Area MIL:DATA in Bouncing Area Also Getting Volume with Double Bottom
How to identify the Demand Zone?
Drop spin Rally :
Step 1: Initially, the prices were falling down as there could be sellers activated in the stock.
Step 2: The price will move in a range because there is an imbalance between buyers and sellers.
Step 3: Finally the prices will further move up with more buyers dominating the prices.
Rally spin Rally :
Step 1: Initially, the prices were moving up as there could be buyers activated in the stock.
Step 2: The price will move in a range because there is an imbalance between buyers and sellers.
Step 3 : Finally the prices will further move up like a rocket with more buyers dominating the prices.
✴️ DYDX The Best DEX Goes BullishThe best DEX goes bullish; DYDX.
We are keeping this chart simple/basic as to make them easier to be understood.
✔️ We have trends, cycles and waves.
✔️ We have impulses and corrections.
(1) DYDX produced a bullish impulse earlier this year and has been followed by a long-term correction.
(2) As the correction ends, the bullish move is resumed.
Pretty simple... 1,2, 1,2!
Namaste.
KAVA with possible hidden bullish divergenceKAVA 2hr time frame 3x - 5x Leverage ( also available on regular spot trade )
with possible hidden bullish divergence ( price action needs to pivot )
Plan A ( LONG ) tp 1.0524 / 1.1071 / 1.1844
Plan B ( SHORT ) tp 0.9089 / 0.8520 / 0.8133
Stop Loss ( sl ) about 3% - 5 % from entry
Not Financial Advice
This is for Entertainment Only
IMX broke out of trading range with volumeIMX alert went off ( 2x - 3x leverage on MEXC ) also available on spot trade
broke out of the trading range with volume
Target 1: 0.8622
Target 2: 0.9088
Target 3: 0.9975
Stop Loss: 0.7439
Manage Risk - have a stop loss in place
Not Financial Advice
This is for Entertainment Only
VELO volume increasingVELO / USDT KUCOIN Daily
volume increasing ... enter with volume confirmation
Market Cap: 13.9M
Category: blockchain financial protocol
Target 1: 0.003387
Target 2: 0.003975
Target 3: 0.005477
Stop Loss: 0.002495
Manage Risk - have a stop loss in place
Not Financial Advice
This is for Entertainment Only
RNDR ( mid - long term hold ) RNDR ( mid - long term hold )
Market Cap: 1B
Category: AI
Target 1: 3.9079
Target 2: 4.8257
Target 3: 5.8423
Stop Loss: 2.4819
( if you get stopped out ... re-enter on 2.6231 level )
Manage Risk - have a stop loss in place
Not Financial Advice
This is for Entertainment Only
TOMO Bull Flag attempting to breakout TOMO 2x - 3x Leverage ( also available as regular spot trade )
Market Cap: 109M
Category: DeFi
Target 1: 1.1684
Target 2: 1.2736
Stop Loss: 1.0432
Manage Risk - have a stop loss in place
Not Financial Advice
This is for Entertainment Only
MARSH ... breakout with volume confirmation MARSH ... breakout with volume confirmation
Market Cap: 900k ( NOT millions )
Category: AI / DeFi
Target 1: 0.15581
Target 2: 0.17913
Target 3: 0.20526
Stop Loss: about 15% from entry
Manage Risk - have a stop loss in place.
Not Financial Advice
This is for Entertainment Only
Bitcoin seeking re-test of Head & Shoulders after LOWERLOWBitcoin is seeking its Lower High on the intraday 4H chart after confirmed the break of a neckline from a Head and shoulders patters. Price is currently respecting structure. The Daily shooting star at the back of a retested trendline suggests that there is sell strength near the neckline of this patters. I will be monitoring the 1H for a the re-test however the volatility must show for this to be a valid sell. This bullish push is all apart of a weak momentum swing high.
This setup will appear the clearest on 4H and 1H. I will take entry on the 30 or 1H.
Mainly shorting BitcoinThe BTC/USDT trading signal given today made some profits in the trading.
So how should BTC/USDT be traded next?Overall, before the upward breakthrough of 30,000 points, the resistance above Bitcoin was relatively large. On the whole, Bitcoin's rebound after the decline was relatively small, and the overall trend of volatility was still maintained.Then in the next trend, mainly focus on the following points.
1.Pay attention to the short-term support area 28200-28000 area. If the support area is not broken, you can try to go long BTC/USDT in small batches.
2.Pay attention to the short-term resistance area 29200-29400 area. If you cannot effectively break through this area during the rebound process, you can try to go long BTC/USDT in small batches.
3.Pay attention to the resistance area 29800-30000 area above, and when the market rebounds to this area, you can boldly short BTC/USDT.
The above are the key areas of BTC that need to be paid attention to in the short term and the general trading rhythm, and I will announce the more detailed trading rhythm and entry position in my channel.If you want to grasp the detailed trading rhythm and master accurate trading signals, you can enter my channel.
CryptoGPT GPT crossing resistance GPT trying to break 0.04576 level ( increasing volume )
approaching overbought * can remain overbought
until the price action comes down
Market Cap: 139M
Category: AI / Layer 2
Target 1: 0.05715
Target 2: 0.06357
Target 3: 0.07090
Stop Loss: 0.03696
Manage Risk - have a stop loss in place
Not Financial Advice
This is for Entertainment Only