BITCOIN - DOUBLE TOPHello Traders !
On the daily time frame,
The Bitcoin price formed a double top pattern.
Currently, The neckline is broken !
So, I expect a bearish move 📉
______________
TARGET: 58450.00🎯
Double Top or Bottom
Pound AussieClear market strcuture on the pound aussie shows a temporary bulls run to the 1.96983 level. To complete the three touches and potentially setting the bears to push prices to the downside.
GBPCAD , Bearish according to VSA unless it breaks the level**Analysis for GBPCAD Short Trade:**
- **Volume Spread Analysis (VSA):** VSA suggests a downward move for GBPCAD, indicated by high volume and impulse buying candles. We will wait for a no-demand candle with low volume or an upthrust candle with low volume to confirm the entry.
- **Entry Confirmation:** The probability for a sell position is high, provided the price does not break above the upper resistance level marked on the chart.
- **Target Projections:** If the upper level is broken, potential targets TP1 and TP2 are marked on the chart. These levels are expected to be reached in the coming week.
Retest Entry in Angelone !! Angelone gave breakout few months back and now it's coming to retest those levels. Entry at this level will be good. #Volumehunter #Youtube
Bitcoin possible double top.
**Exploring Bitcoin Price Movements Using Elliott Wave Theory**
The chart displayed provides a detailed analysis of Bitcoin's price movements over a significant period, from mid-2019 to mid-2024, utilizing Elliott Wave Theory. This theory is a popular tool in technical analysis, suggesting that market prices move in repetitive cycles or "waves" driven by investor psychology.
**Elliott Wave Theory Basics**
According to Elliott Wave Theory, market prices alternate between impulsive and corrective phases:
1. **Impulse Waves**: These are the main movements in the direction of the trend, typically consisting of five waves labeled with Roman numerals (I, II, III, IV, V).
2. **Corrective Waves**: These follow the impulse waves, moving against the trend in three waves labeled as A, B, and C.
Additionally, complex corrections can be labeled as (W), (X), and (Y).
**Interpreting the Chart**
1. **Impulse and Corrective Waves**:
- The chart indicates several completed cycles of impulse and corrective waves. For example, the five-wave impulse sequence (I, II, III, IV, V) was followed by a three-wave corrective pattern (A, B, C).
- There are also complex corrections marked as (W), (X), (Y), showing more intricate market behavior.
2. **Significant Price Movements**:
- The Bitcoin price has shown substantial volatility, with notable peaks and troughs. These movements are captured within the Elliott Wave framework, providing a structured view of these fluctuations.
3. **Current Market Position**:
- As of the most recent data on the chart, Bitcoin is priced around $60,781.
- The chart suggests the end of a corrective phase (wave C) and the potential beginning of a new cycle with wave I already in progress.
**Potential Scenarios**
Based on the current wave structure, a few scenarios can be anticipated:
1. **Continuation of the Uptrend**: If wave I is the beginning of a new impulse sequence, Bitcoin might experience a continued uptrend, forming waves II, III, IV, and V.
2. **Further Correction**: Alternatively, if the market conditions change, there could be an extended or complex corrective phase, potentially labeled as (W), (X), (Y).
**Conclusion**
Elliott Wave Theory offers a comprehensive framework for analyzing Bitcoin's price movements, helping to predict future trends based on past patterns. The current position of Bitcoin in the Elliott Wave cycle indicates the possibility of either continued upward momentum or further corrective action, depending on market dynamics.
Ethereum 2nd Test on our demand zoneEthereum decided not to continue with the trend but to conduct a second test before the rally. This pattern is very natural when the market breaks a channel and seeks equilibrium points in demand zones.
Our plan remains in place. Remember that markets need to make pauses or retests before taking action. Additionally, we must consider that markets, in general, have been bearish—we are in a bear market. However, the points of interest I have marked are based on historical prices and significant liquidity, so we can expect aggressive movements once the price reaches the indicated zones.
Thank you for your support, and don't fear these bear markets; on the contrary, we should average in and take advantage of the opportunities they offer us.
Regards
SWING IDEA - ROSSARI BIOTECHConsider a compelling swing trade opportunity in Rossari Biotech , a leading specialty chemicals manufacturer in India, renowned for its innovative and sustainable solutions across various industries.
Reasons are listed below :
Price at Support Zone : Rossari Biotech is trading at its support zone, where it was initially listed, indicating potential buying interest and stability at these levels.
Doji Candle Formation : A doji candlestick pattern has formed, confirming the bullish momentum indicated by the preceding marubozu candle. This suggests that the price is holding onto higher levels and may continue to move upward.
0.618 Fibonacci Support : Finding support at the 0.618 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement.
Initiation of Double Bottom Pattern : The beginning of the formation of a double bottom pattern suggests a potential trend reversal and bullish continuation, indicating a shift in market sentiment.
Increase in Volumes : An increase in trading volumes reflects growing market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Rossari Biotech.
Target - 809 // 890
StopLoss - weekly close below 655
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DOW JONES INDEX (US30): Oversold Market & Pullback
I think that Dow Jones may pullback on Monday.
The Index became heavily oversold after the release
of US unemployment data on Friday.
The price formed a double bottom pattern on an hourly time frame
and violated its neckline.
I suppose that the price may bounce to 39800
❤️Please, support my work with like, thank you!❤️
XAUUSD 15MINIt created a high higher so i saw the opportunity for a small drop. I am taking the risk for the price to go higher but it the price may go for the Fair value area in 15 min to give the opportunity to the offer. FX:XAUUSD
ICP Buying OpportunityThe ICP came back to life at the end of last year and increased significantly. After May, however, it declined in response to the general market decline.
But I think that decline is now over. The $8-9 area is a good buying zone for us. Especially considering that it is coming out of the downtrend.
I don't think it will go below $8 from now on, but in a possible correction in the market, it could go down to $6.5-7 and come up. This is the ideal buying zone for us because if this happens, there is a potential double bottom pattern.
My plan is to buy a large amount of ICP now and place a small buy order at the $7 level.
Idea to LONGNOT is currently with hype.
In term of pattern,
we are arriving at the end of the big triangle.
we are are on a triple bottom
On a support
CROWSTRIKE may hit $280 following Elon's tweetThe global outage yesterday and the tweet from Elon Musk may drive this asset to $280 or even beyond.
There may be an opening flash on Monday morning at the open of the market.
Potential Gold Movement1:10 Trade
Place Sell Stop at the marked price zone.
Risk Wisely.
Some capital gain before NFP
Is pushingBullish flag inside an inverse HS. Continuation pattern. I like it. Look close, there is a subtle double bottom forming inside the flag.
S&P 500 - BULLISH DOUBLE BOTTOMHello Traders !
The S&P 500 Index formed a double bottom pattern.
Currently, The neckline is broken !
So, I expect a new bullish move📈
______________
TARGET: 5563.50🎯
GBPNZD PRINTING REVERSAL PATTERAN ON 1HTechnically:
GBPNZD is printing Double top pattern which is clearly indicate the reversal.
BXY is Bearish on Daily time frame
ZXY is bullish on daily time frame
Fundamentally:
COT reports of this week and previous weeks clearly shows that Big players consistently
increasing shorts positions of GBP and long positions of NZD.
Sentiments:
GBPNZD 90% Shorts.
Trade Plan:
Entry :2.17825
Stop Loss: 2.18960
TP1: 2.16671 (1:1)
TP2: 2.15535 (1:2)
Take Trade Your own Risk
Good Luck
US DOLLAR INDEX (DXY): Breakout & Bearish Outlook↪️The Dollar Index had been steadily increasing in a rising parallel channel before breaking through its support line and forming a double top pattern.
I anticipate a bullish trend continuing towards the levels of 104.01 / 103.65.
nas100 Identifying Key Levels
The chart highlights several significant levels and zones that influence the current market behavior:
• PMH & PML: Previous Month High and Low, serving as significant resistance and support levels.
• PWH & PWL: Previous Week High and Low, indicating recent market highs and lows.
• PDH & PDL: Previous Day High and Low, indicating recent market highs and lows
• Daily FVG: Daily Fair Value Gap, indicating areas of market imbalance.
• BSL: Buy-side Liquidity, areas where buy orders are placed.
• SSL: Sell-side Liquidity, areas where buy orders are placed.
• Always wait for confirmation
S&P500 INDEX (SPY): Waiting For The Next Move↪️The S&P500 is currently facing a resistance cluster, marked by a strong trend line and the neckline of a wide double bottom pattern.
A breakout above this area would signal a strong bullish trend.
Confirmation of this breakout would come with a 4-hour candle closing above the resistance. If this occurs, we can expect a bullish continuation towards the 5547 gap.
NZDCAD: Bullish Sentiment Confirmed?! 🇳🇿🇨🇦
NZDCAD has a nice potential to grow after a test of a major rising trend line on a daily.
I see a clear sign of strength of the buyers on a 4H time frame with a double bottom formation
and a confirmed change of character.
I think that the pair will reach 0.82 level soon.
❤️Please, support my work with like, thank you!❤️
Just bought someLooks how many times has tried to break the 45 level. Also has been consolidating for a long time. Now is sitting on the 42 level, not a very important support but could be enough to push another try and break out. I don't have a SL here, even is the 42 level is broken down there is another support at 35. I would buy more there. First target 53, then will see.
