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Pullback to 19-19.45K area Morning folks, So, BTC rally has been triggered by FTX news, that they have recovered $5Bln for clients and later was supported by common euphoria around CPI numbers. In our weekly FX report we've explained why it is temporal and soon everything returns back to its own. But, market likes to follow wishful thinking. Anyway, we have bullish context. Last time we've agreed to watch for 19.1K area resistance, were waiting for some response. It has not happened, and this makes us to switch to next, XOP target that market has hit recently. Now price stands at 1.618 AB-CD extension, at overbought and near 21.6K Fib resistance. Definitely it is not the moment for position taking and we need to wait for pullback. Now we consider 19-19.45K levels, as most probable destination of retracement. Still, we also do not exclude possible reverse H&S pattern. In this case pullback could reach 18.3-18.5K level. For the bears it is nothing to do by far, unless you're trading on intraday charts.
COINBASE:BTCUSD
by Sive-Morten
ATOMUSD Daily S/R Resistance| VAH| .618 Fibonacci Evening Traders, Today’s analysis – ATOMUSD- trading towards a key resistance zone where a rejection is likely, Points to consider, - Price Action Corrective - Daily S/R Resistance - VAH Resistance - .618 Fibonacci Resistance ATOMUSDT’s immediate price action is at an area of resistance compromised of the .618 Fibonacci, Daily S/R and the Value Area High, this allows for a bearish bias. A rejection here will continue the bearish trend by establishing another lower high. The overall target is the POC and level that will confirm the next higher low if price action finds support. Hope this analysis helps! Thank you for following my work And remember, “You have power over how you'll respond to uncertainty.” ― Yvan Byeajee,
Short
by AzizKhanZamani
2
NZDJPY I Inverted head and shoulder - LONGWelcome back! Let me know your thoughts in the comments! **NZDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
16
19.2-19.6 is next beacon for the bearsMorning guys, Last time we've postponed bearish position taking as market strongly has passed through 1704-17080 resistance area and we've agree to watch for next upside target around 17.6K. Additionally we've said, that with stronger upside performance we could have to increase the scale and take a look at larger AB-CD pattern on daily chart. Now the time has come. As FTX was able to recover 5 Bln in cash, market lifts in spirits. Now we think that bears should keep hands in pockets and bulls get chances to see BTC around 19.2-19.6 K level. This level is rather strong. Additionally we get "222" Sell pattern here. Long term bearish context is still valid. If you intend to take long position - you could consider 17.6 and 17.8K intraday support levels (not showing here), but be aware of today's CPI report. Besides, you have to control upside breakout of 18.4 local top (B point) here. Downside reversal and erasing of recent rally should keep you aside from taking the long position. Downside reversal is not cancelled, it just postpones, giving market to show larger scale pullback.
COINBASE:BTCUSD
by Sive-Morten
AUDUSD I Scalp and intraday buy from supportWelcome back! Let me know your thoughts in the comments! **AUDUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
18
Postpone bearish scenario until 17.6KMorning folks, As you could see BTC has reached the level that we've discussed last week - 17040-17080 resistance, and did it relatively easy. Since we consider upside continuation on other markets as well - EUR, Gold, on BTC we also postpone bearish scenario and now do not consider entry. Price stands above the K-resistance area and above OP target that we've discussed last time. At the same time, the bearish context is not broken and around 17.6K we could get the same "222" Sell. 17.6K is a next Agreement resistance area - 5/8 major Fib level and upside XOP (1.618) AB-CD target. Bulls probably could consider long entry on minor pullback. The retracement right now should not be deep. Otherwise, it could mean that BTC still reacts on 17.1K area.
COINBASE:BTCUSD
by Sive-Morten
1
S&P500 Weekly Ichimoku Analysis for Week 2 2023General outlook for SP:SPX The overall market trend is still downwards and I expect that we will see more in Q1 downward pressure due to adjustment of earnings and the higher and higher possibility of, at least, a mild recession in the US and EU. The FED will tighten the monetary policy further with one or two rate hikes of 25 bps in Q1. Furthermore, QT is running with 90 Trillion per month. This week all FED communication was clearly hawkish with statements that the terminal rate will be up to 5,4% in 2023 and no rate cuts in 2023. I will still act according to "never fight the FED". Therefore, all bullish signs are short-lived and any chance to sell into a rally should be still used. Since mid-December the S&P in a range between 3.900 USD and 3.770 USD. As described above the overall market trend should still be bearish, at least in Q1 and Q2. There the likelihood of a bullish break out over 3.900 USD is quite low in my opinion. In case there is a short-term bullish outbreak, this will be pushed back by the 1-year downward resistance line with sits at around 4.000 USD at the moment. Before this trendline is not broken and switched into support, I will be very cautious on the long side. For next week I expect some volatility due to the inflation number. Especially as the inflation number in France and Germany came out lower than expected this week. Ichimoku analysis My weekly analysis is based on the 1D chart. Lagging Span is below the Price Base line is above Conversion Line Price is within the cloud -> Price ranging Currently Conversion Line, Base Line, and Kumo are flat / ranging 4H Resistance / Support Zone Resistance between 3885 USD and 3900 USD Support between 3785 USD and 3770 USD Long Idea - Price Breaks above cloud resistance at 3960 USD and turns the 1-year downward resistance line into support. In my view, this will not happen in the next 3-4 months. Short Idea - Price Breaks below the cloud and below 4H resistance at 3770 USD I will look for a retest of the support zone. If there is a retest this should be a good short opportunity. Take Profit Target: 3565 USD (around 2022 yearly low) Stop Loss: Above Base line
OANDA:SPX500USDShort
by chukymuc
1
The core still stands the sameMorning folks, Just minor update here, as picture mostly stands the same as on Monday. Last time we said that if BTC will be lucky enough and could show upside AB-CD pattern - it might be good combination for short entry. Upside AB-CD target perfectly agrees with strong 17040-17080 resistance area and also we get "222" Sell in this case. BTC despite all the weakness slowly but stubbornly is creeping higher. So, if ADP or NFP will not intrude into process, we intend to consider short entry around 17-17.10K area. We do not consider any longs by far
COINBASE:BTCUSD
by Sive-Morten
1
EURCAD I Potential buy from weekly structure Welcome back! Let me know your thoughts in the comments! **EURCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
19
17040-17080 as a best caseMorning everybody, So, we could see across the board that markets are going against the dollar, at least in short-term. While Dollar Index shows signs of weakness. We do not suggest that this lasts for too long, but still, this action is not over yet, and our analysis as of EUR as of Gold market also suggests further upside continuation. Meantime, BTC has no participation with this move. It shows how weak and heavy it is. That's why we're skeptic a bit concerning its performance and suggest that forming of upside AB-CD pattern with the target that agrees with 17040-17080 Confluence resistance area will be the best case. Besides, if it happens, we get "222" Sell around strong support and could consider it for short entry. Our mid/long term view on BTC remains bearish. On 4th of January we get FOMC minutes publication that could bring some disclosure as J.Powell was relatively hawkish on his recent speech.
COINBASE:BTCUSD
by Sive-Morten
BTC 17050-17080 Morning everybody and Merry Christmas, So, holidays intrude a bit to BTC performance as well, delaying pattern's appearing that we've discussed last time. When activity returns, BTC could keep going to 17.35-17.4K target and area of the right arm's top of our 4H H&S pattern. But, at the same time, we think that bulls have to worry about 17045-17080 area, which is a strong resistance of Fib levels K-area and COP (0.618 extension) target. Potentially BTC could turn down earlier. Besides, if it happens, we will get daily bearish grabber pattern that suggests even deeper action.
COINBASE:BTCUSD
by Sive-Morten
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line. Let's start with setting the support line and as you can see the first support that currently defended the price is $16585 at 0.718 FIB, if the support is broken then the next support is $16457 and $16080. Now let's go from the resistance line, as you can see the first resistance is $16752, if you manage to break it, the next resistance will be $16871, $16964 and $17058. Looking at the CHOP indicator, we can see that in the 4-hour interval, energy was used for a sudden correction, but some was left for the next move. The MACD indicates the entry into a local downtrend, while the RSI rebounded, but there is room for a deeper correction.
by cryptodailyuk
17.40-17.5KMorning folks, Everything were going with our trading plan, but unexpected collapse on Japanese Bonds market and BoJ rate action to 0.5% has changed normal price behavior. Still, we treat it as temporal intruding, and soon effect of this event should fade. Thus, current action we treat as a chance to Sell at better price. Particularly speaking, 17.40-17.50K area seems attractive, if BTC completes upside AB-CD and we get "222" Sell" pattern. By the way, this also will form the top of H&S right arm, that we've discussed last time. Despite our view, we do not intend to take the long position, although it is not forbidden. Our primary target is to get good short entry point.
COINBASE:BTCUSD
by Sive-Morten
1
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on the four hour timeframe. As you can see, the price is moving below the uptrend line. As we can see the previous support at $16583 is still price support, the next support is at $16098 and $15471 at the previous low. Now let's move on to the resistance line, as you can see the first resistance is $17066, if you manage to break it, the next resistance will be $17325 and $17571 at 0.61Fib. Looking at the CHOP indicator, we can see that in the four-hour interval, most of the energy has been used, the MACD indicates a local uptrend, while the RSI we could see that despite the price went lower in the first correction, the RSI did not see a deeper low, which is often a sign of a trend change.
by cryptodailyuk
4