Get started

Downtrend

How far can the price of BTC go ?The chart shows the levels to which the BTC price may drop in the coming days/weeks. Currently, we can see that the price is based on the support at the 0.382fib level at the price of $60,000. I further identified a strong support zone from $55,000 to $52,000, which is between 0.382fib and 0.618fib, taking into account two fib retracement grids and trend-based fib extension. The third place is the second very strong zone from $43,487 to $38,591, located between the 0.618fib and 1fib levels of the previously mentioned fib grids. When we look at the RSI indicator, we will see a break at the bottom from the trend line, under which there is room to continue the downward trend. However, the STOCH indicator shows a descent below the lower limit, which previously resulted in a change of movement path, which in this case may return the price to the upward trend. Currently, the correction level reaches 18%, which is a relatively small decrease compared to the earlier stages of the growth market. However, here I do not expect a descent below the first support zone, at which the correction would be around 30%.
Short
by cryptodailyuk
AUDNZD | Hidden Bearish Divergence | Harmonic Bearish Shark The AUDNZD chart currently shows the formation of a XABCD Harmonic Shark Bearish Pattern, indicating a Potential Reversal Zone (PRZ). Additionally, there is a hidden bearish divergence, suggesting that the current uptrend is likely to reverse into a downtrend. Furthermore, on the daily chart, the price has just touched a strong daily resistance zone, which also serves as an Order Block (OB). This action confirms the bearish OB and all these indicators collectively suggest a shift in the trend to a downtrend. In technical analysis, a Harmonic Shark pattern is a specific type of harmonic pattern that signals potential trend reversals. The completion of this pattern at the PRZ indicates an area where traders might anticipate a change in the current price direction. A hidden bearish divergence occurs when the price forms higher highs, but the corresponding indicator (such as the Relative Strength Index or RSI) shows lower highs. This suggests underlying weakness in the upward momentum, potentially leading to a reversal. The concept of an Order Block (OB) refers to a significant level of support or resistance where institutional traders have previously entered the market. When the price approaches and reacts to this level, it can confirm the strength of the OB. On the 1-hour time frame, also there is a hidden bearish divergence, and the Previous Day High (PDH) liquidity has been taken. Whenever the PDH is breached, a pullback to the downtrend is often observed. Additionally, the trend line on the 1-hour time frame has been broken, and the price has retested this trend line. According to Dow Theory, these indications suggest a shift in price behavior from forming higher highs (HH) and higher lows (HL) to forming lower highs (LH) and lower lows (LL). On the daily time frame, the price has tested a strong resistance zone and is rejecting from its peak resistance level bearish OB. Overall, the daily chart appears bearish, indicating a potential trend change. Additionally, there is a trend line liquidity that needs to be breached for the price to move in either direction. In summary, the combination of the Harmonic Shark Bearish Pattern, hidden bearish divergence, and interaction with a higher time frame to lower time frame strong daily resistance zone (Order Block) suggests a strong indication of a potential shift from an uptrend to a downtrend in the AUDNZD pair. However, it's essential to conduct comprehensive analysis and consider other factors before making trading decisions.
Short
by awaisulabdeen
14
US 30 FALLThe analysis suggests a potential selling opportunity for US 30 (Dow Jones Industrial Average) on the daily and 4-hour timeframes. On the daily timeframe, a selling entry zone is identified between 39,800 to 39,950 points. This range represents a level where significant selling interest has historically emerged, potentially acting as a resistance zone for the index. Traders often look for such areas to initiate short positions, anticipating a downward movement in price from these levels. Additionally, on the 4-hour timeframe, a fresh selling zone is noted between 39,590 to 39,650 points. This zone represents a recent area where selling pressure has been observed, indicating potential renewed bearish momentum for US 30. The trading strategy includes setting a target of 130 pips, representing the expected downside movement in US 30 from the identified selling zones. This target suggests the anticipated decrease in price from the entry zones to the desired profit level. Furthermore, two target prices are set to manage the trade effectively. Setting multiple targets allows traders to lock in profits at different levels and adjust their positions accordingly as the trade progresses. In summary, the analysis indicates a potential selling opportunity in US 30, with selling entry zones identified on both the daily and 4-hour timeframes. Traders may consider entering short positions with the expectation of a 130-pip downside movement, aiming to capitalize on the potential price decline from the identified selling zones.
PEPPERSTONE:US30Short
by MOAZAM1133
Downtrend Reversal? Buy the Dip!NASDAQ:AAPL As you know the justice department has issued an Antitrust suit against Apple. This news is going to cause a downtrend in the stock, as expected, because of reaction to the news. However, we can expect a reversal sooner than later. Apple is at $172.28 as of 03/22/24 Buy until $168.52 Price target(s): $174.27, $178.79 (expectation of a downtrend if the price retraces from this high, it could encounter resistance because traders may be ready with sell orders here)
NASDAQ:AAPL
by eakosah
Crypto Heat Check: Anticipating a Cooling Off in the MarketThe crypto market's temperature seems to be rising, indicating a potential need for a healthy relief bounce. While the altseason may not have concluded, it's prudent to brace ourselves for a corrective move downward. Taking a closer look at the SUIUSDT example, we can witness the market's respect for the supply area. Particularly noteworthy is today's occurrence—a clean bounce off the 61.8% Fibonacci resistance level, signaling a palpable downward pressure. This could potentially translate into a 15-20% price drop. Don't get overexcited and be ready for any scenarios!
Short
by CryptoPAMM
4
ETH, Where to Buy the Dip ? ETH is most likely correcting 5 years up going wave ! is the correction over? Most probably NOT. ETH at ATH more than likely completed an impulsive section of a wave cycle and currently is in the corrective section. Normally in simple form, corrections have 3 legs with two legs down and one leg up in between. As shown on the chart , it is very possible for ETH to be in the third leg of the ABC form of correction (C) after completion of first two legs (A and B). ETH got hammered at 50 % Retracement of down going wave A which is acceptable and also typical for a zigzag correction. If we skip some unusual types of zigzag correction, ETH should normally make a new low at lower Retracement levels shown on the chart. So, Our " Buy the Dip " targets will be 1863 and 1046 USD corresponding 0.618 and 0.786 Retracements of 5 years up going wave respectively. After end of correction, if we are going to have a normal ascending wave cycle , there will be a shining chance to invest on ETH. It may see some unbelievable targets above 10000 USD ! I have to emphasize what has been discussed is the most probable scenario . We know that waves, especially in corrective phase, can take many complicated forms. Should it need any update, we will provide in appropriate time. Hope this to be useful and wish you all the best.
COINBASE:ETHUSD
by SaeedSajedi
7