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Fibonaccianalysis

Daily BTC 4HChart REVIEWHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of four hours. First of all, we will use the yellow line to mark the uptrend, as we can see that the price has now gone a little below. Next, using the blue lines, we will mark the local downtrend channel in which we are currently moving. Now we can move on to marking support areas in case the correction starts to deepen further. And here, in the first place, it is worth marking a strong support zone from $ 27566 to $ 26637, however, when we fall below this zone, we can see a drop to around $ 25398, and then a strong drop to around $ 21868. Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we have a significant resistance at $ 29672, when we manage to break it, second strong resistance at $ 31385, then third resistance at $ 32747. Now let's look at the Cross 10 and 30 EMAs which indicate that we are in a local downtrend. At this point, however, it is worth looking at the EMA Cross 50 and 200, we should watch if the yellow EMA Cross 50 line crosses the blue line from above, which could indicate a return to a long-term downtrend. Please pay attention to the CHOP index which indicates that a lot of energy has accumulated, the MACD indicator indicates a local uptrend. On the other hand, on the RSI, we can see that we are moving at the lower limit, which gives the chart a local sideways trend and moments of respite.
by cryptodailyuk
1
How to Use Fibonacci ExtensionsHave you ever noticed that market movements often seem to occur in repeatable patterns? Well, that’s where Fibonacci extensions come into play. Join us in this article as we dive into the world of Fibonacci extensions and discover how they can be a strong addition to your trading arsenal. A Primer on Fibonacci Ratios Fibonacci ratios are derived from the Fibonacci sequence, where each number is the sum of the two preceding numbers. The sequence begins with 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, and so on. The primary Fibonacci ratio of 1.618, sometimes called the Golden Ratio, is found by dividing one number by the previous. 34 divided by 21, for example, roughly equals 1.619. As the sequence progresses, the ratio becomes more precise and closer to 1.618. Dividing a number by the next, such as if we divide 13 by 21, will give us a ratio of 0.618 (0.619 in the case of 13/21), also commonly used in Fibonacci retracements. Further calculations produce the Fibonacci extension levels we’re interested in: 1, 1.382, 2, 2.618, and 4.236. In trading, they’re typically expressed as percentages, like 100%, 138.2%, 200%, 261.8%, and 423.6%. What are Fibonacci Extensions? Fibonacci extensions (also known as Fibonacci expansions or Fib extensions) are a technical analysis tool that allows traders to determine potential levels of support and resistance for an asset’s price. Like regular support and resistance levels, they should be considered as areas of interest rather than where price will turn with pinpoint precision. They’re most frequently used to set profit targets, although they can also be used to find entries. Fibonacci extensions can be applied to any market, including forex, commodities, stocks, cryptocurrencies*, and more, and work across all timeframes. While not foolproof, using the Fibonacci extension tool combined with other forms of technical analysis can be an effective way to spot potential reversal points in financial markets. Fibonacci Retracements vs Extensions Both Fibonacci retracements and extensions are based on the Fibonacci sequence and the Golden Ratio, but they are used to measure different things in the market. Fibonacci retracements show support and resistance levels during a pullback from a larger move. On the other hand, Fibonacci extensions measure the potential levels of support and resistance for an asset's price after a pullback has occurred. As shown in the chart above, the Fibonacci retracement tool can be applied to identify where price may pull back to – 50% in this scenario. Then, the Fibonacci extension tool is used to plot where price could end up beyond this pullback. The 100% and 161.8% levels posed significant resistance, causing the price to reverse. It’s easy to see how both tools can be used in conjunction to build an effective strategy. Generally speaking, traders tend to enter on a pullback to one of the key retracement levels, then take profits at the extension levels. However, either tool can be used to find areas suitable for entries and exits. Fib Extensions: How to Use If you’re wondering how to use Fib extensions in your own trading, here are the steps you need to follow. 1. Click to set the first point at a major swing low if expecting bullishness or swing high if expecting bearishness. Using the Magnet mode on TickTrader may help you set it with precision. 2. Place the second point at a swing in the opposite direction. 3. Put the third point at the low of the pullback if a bullish move is expected or the high if a bearish move is expected. That’s it! You now have an idea of where price may reverse as the trend progresses, allowing you to set profit targets or plan entries. You can also double-click the tool to adjust it to your preferences, like removing certain levels and changing colours. Bullish Example In this example, we have a swing low (1) followed by a swing high (2) that makes a retracement (3). These three points are all we need to plot a Fibonacci extension. Notice that the 138.2% level didn’t hold, showing that price isn’t always guaranteed to reverse in these areas. However, the wicks and sustained moves lower at the 100% and 161.8% areas gave traders confirmation that a reversal might be inbound. Bearish Example Here, we can see that each of the three areas prompted a pullback. Some traders might not consider the 138.2% area valid to trade since it never fully hit the level. However, the easiest way to get around this is to look for confirmation with a break of the trend, as denoted by the first dotted line. Once price gets beyond that swing high (intermittently breaking the downtrend), traders have confirmation that what they’re looking at is likely the start of a reversal. Some traders subscribe to the belief that if price closes beyond a level, it’ll continue progressing to the next area. While this can sometimes be the case, it can just as easily reverse. Here, price briefly closed below the 161.8% level before continuing much higher. Making the Most of Fibonacci Extensions By now, you may have a decent understanding of what Fib extensions are and how to use them. But how do you make the most out of Fibonacci extensions? Here are two tips to maximise your chances of success. 1. Look for confirmation: Instead of blindly setting orders at extension levels, you can look for price action confirmation that price is starting to reverse at the area before taking profits or entering a position. You could do this by looking for breaks in the trend, as discussed in the example above. 2. Find confluence: Similarly, you can use other technical analysis tools like trendlines, indicators like moving averages, or even multiple Fibonacci extensions, to give you a better idea of how price will likely react at a level. Your Next Steps Now, it’s time to put your understanding to the test. Spend some time practising how to use Fibonacci extensions and try backtesting a few setups to see how you could’ve gotten involved in a trade. Once you feel you have a solid strategy, you can open an FXOpen account to start using your skills in the live market. In the meantime, why not try exploring other Fibonacci-related concepts, like Fibonacci retracements and harmonic patterns ? *At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients. This article represents FXOpen Companies’ opinion only, it should not be construed as an offer, solicitation, or recommendation with respect to FXOpen Companies’ products and services or as financial advice.
Education
by FXOpen
7
DOT/USDT 1D ReviewHello everyone, let's look at the DOT to USDT chart on a one-day time frame. As you can see, the price remains above the uptrend line. Let's start by drawing a support line. And as you can see, the price is in front of a very strong support at the so-called golden point Fib Retracement equal to $ 5.63, if the support is broken then the next support is $ 5.02 and $ 4.22. Now let's move on to the resistances that the price has to overcome. First, we have a very strong resistance zone from $6.23 to $6.54, when we manage to break it, the second resistance is $6.85, the third at $7.32 and then the fourth at $7.90. Looking at the CHOP indicator, we see that there is still some energy left, the MACD indicates a downtrend, however, the RSI is approaching the lower limit, which may indicate the approaching end of the correction.
by cryptodailyuk
Daily ETH 1DChart - resistance and supportHello everyone, I invite you to review the chart of ETH in pair to USDT, we will focus on the one-day timeframe. We will start by marking the second trend line, from which, as you can see, the price went up, then it is worth defining the main trend, which has not been touched so far, currently, for ETH to beat the main trend, the price would have to exceed around $ 2700. At this point, we will also check what the EMA Cross 50 and 200 indicate, as you can see after a long-lasting downward trend, we have a visible confirmation of the return to the uptrend and despite the current correction, nothing changes. Next, we will define with the blue lines, the uptrend channel in which the price is moving from the last low. Now let's move on to checking where the price should meet support in the event of a continuation of the current correction. And here we can first mark the strong support zone from $ 1848 to $ 1673, but if the price falls below the next support we have at $ 1520 levels, third at $ 1366 and then fourth at $ 1154. Now, in the same way, using the Fib Retracement tool, we will check the places of resistance for the price if the situation reversed and the price started to rise. In the same way, in the first place, we can mark a very strong resistance zone from $ 1916 to $ 2224, which, as of now, the price has not had the strength to overcome, but when it succeeds, we will be able to observe an attack on the resistance at $ 2543, and then a third resistance at the price of $ 2991, and the fourth resistance at $ 3573. Please note the CHOP Index, which indicates that the energy is starting to gain strength after it has been used to correct the price, the MACD indicates the transition to a downtrend. On the other hand, on the RSI, despite the fact that we see a rebound, there is still room for the price to go lower, which may deepen the correction towards the previously mentioned support zone. It is worth watching whether the designated zone will keep the price.
by cryptodailyuk
HOW TO USE FIBONACCI LIKE A PRO #part1Hi there! Bolu here The Fibonacci tool is one of the most popular tools on trading view and many traders use Fibonacci on their charts. FIBS are a major part of my trading system as you can see on this chart, i use it all the time, as I have to know what structure is saying on major and minor structure to aid my analysis and entry/exit confirmations. I will be sharing how I use my FIBONACCI tool in this post and you can take some notes and add to your trading plan if you want. BASICS OF FIBONACCI In mathematics, the Fibonacci sequence is a sequence in which each number is the sum of the two preceding ones. Numbers that are part of the Fibonacci sequence are known as Fibonacci numbers, commonly denoted Fn . The sequence commonly starts from 0 and 1, although some authors start the sequence from 1 and 1 or sometimes (as did Fibonacci) from 1 and 2. Starting from 0 and 1, the first few values in the sequence are: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. The history of Fibonacci is all over the internet. My Job here is to show you how it can be used to your trading advantage. I majorly use the FIB retracement & FIB extension tool. Trading-view provides a whole lot of other types of FIBs, but they are not a part of my trading system, so i only focus on what is relevant to my Trading plan by keeping it simple. HOW TO USE THE FIBS It is imperative to understand that Fibonacci retracement is a tool used to measure the retrace of a counter trend based on the current trend.​e.g, After a downtrend formation, how far the correction would go would be measured with the FIBs​. while the Fibonacci extension tool is used to measure the 'length' of the continuation of that trend and is mostly used as Take profit levels IT CAN ONLY BE USED IN A TRENDING MARKET.​ You need a valid Uptrend point or Downtrend point to draw out your FIBd] Drawing out FIBs on the chart is a 3step process STEPS TO DRAW FIBS STEP 1 : SPOT A VALID BOS. STEP 2 : IDENTIFY POINT A – POINT B OF THE IMPULSE MOVE . STEP 3: DRAG FIB FROM THE HIGH TO THE LOW / LOW TO THE HIGH ​. I changed the default settings that the FIBS came with on Trading-view and replace the numbers and colors. Each FIB Percentage level means something unique on the charts and that helps with understanding what the trend is doing. The retracement levels are used to see how strong the pullback phase is. Understanding the strength of the pullback is one of the most important things to know in the trend . I will probably make another post on 'Trend strength Analysis'..., You can put it in the comments if you would like to study it with me. Now, back to our FIBs. Every FIB level is uniquely important and useful. The FIB Level that aligns with a key level of structure is ​High Probability. In the Part 2 of this post, i would share the 'secret sauce' of the FIB retracement levels and how they can be used in both Major and Minor Structure.
Education
by knowledgeforskills
MSTR to 443,69 It's possible ?Hello dear traider, Let's look to MicroStrategy . 1. We have bullish trend. 2. New hight. 3. At this moment do correction move. 4. At 262.5 whe have 50% FVG 5. Around 239-263 $ have : - 50% fibo - Fvg - bullish cloud ichimoku - bullish Order blok But....... 1. Whe don't retest ob on 144$ 2. 144-220 $ have big liquidity I think we must w8 bulish I-CHoCH in 262.5 (15m chart) for future long position. Remember trend your friend With love from Ukraine Your Cool
NASDAQ:MSTRLong
by Scythe_
BNB/USDT 4HInterval Resistance and SupportHello everyone, welcome to a review of the BNB chart on a four-hour time frame. With the blue lines we will mark the uptrend channel in which the price is moving. Let's start by marking the support places for the price and we see that we first have support at $337.3, but if the price goes lower, we have another support at $333.8, then at $323.5, then we can see strong drop to around $307.2 Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has failed to break through the strong resistance zone from $ 345 to $350 at the moment. Next is resistance at $354.4, third resistance at $358.5, and then fourth resistance at $364. The CHOP index indicates that the energy is slowly regaining strength, the MACD indicates a transition to a local downtrend, while the RSI indicates a rebound, but in this situation we are still in the upper part of the range.
by cryptodailyuk
BTC Analysis of the current correctionHello everyone, I invite you to every Monday's cryptocurrency review. Let's start by checking the current situation on the BTC pair to USDT, taking into account the four-hour interval. First, we will use blue lines to mark the local uptrend channel in which the BTC price is moving. At this point, it is worth looking at the EMA Cross 10 and 30, which confirm the return to the local downtrend, but on the volume, which also indicates a definite advantage of sellers, we can observe that this volume is quite low. Now we can move on to marking support areas in case of deepening of the current correction. And here we see that the price is just before the support at $ 29359, then we have the second support at $ 28850, then there is a strong support zone from $ 28314 to $ 27570, if the zone is broken the next support is at $ 26635. Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. The first resistance is at $ 29696, then we will mark the resistance zone from $ 29947 to $ 30660 when it is broken, and the next resistance is at $ 31045. Further we can see an increase to around $ 32117. Please pay attention to the CHOP index which indicates that the energy has been used in the current correction, the MACD indicator confirms the ongoing local downtrend, while the RSI has a strong rebound, which may indicate that the current correction will start to slow down.
by cryptodailyuk
2
MATIC/USDT 4HInterval Resistance and SupportI invite you to review the MATIC chart in pair to USDT, as before on the four-hour interval. First, we will use the blue lines to mark the downtrend channel where the price is moving sideways from the downtrend line. Moving on, we can move on to marking support areas when we start a larger correction. And here we are approaching a strong support zone from $1.13 to $1.10, however, if the price goes lower we have a second strong support zone from $1.06 to $0.94, and then we can mark the support line at $0.94. Looking the other way, we see that the price hit the important resistance zone from $1.18 to $1.26, where it immediately turned around. However, if we manage to break out of this zone above, we have the second resistance at $ 1.33, and then the third resistance at $ 1.44. Please look at the CHOP index, which indicates that the energy on the 4-hour interval has been used, the MACD indicates the maintenance of the local uptrend, while the RSI shows a strong rebound right after crossing the upper limit of the range.
M
by cryptodailyuk
NASDAQ 100 Futures update on 4/111. The price hasn't taken out the prior high (level X) at 13740 on a larger picture. So, technically, CME_MINI:NQ1! is still in a downtrend. 2. However, it's clear to see that the market is forming an up trend on the bottom now (higher high and higher low). 3. We can do a 100% symmetry projection of the prior swing from A to B, projected from C. --> The short-term target price will be the level of D. And do notice the big prior high (level X) could be a possible strong resistance. 4. What makes this up-trend "N" swing constructive? --> The level of 0.5 retracements from A to B is very close to the level of C, making a symmetry here. --> There is a "resistance turned support" on the level of B. 5. What if the price comes below the level of B? --> The price is likely to go sideway. It's better to wait for a more and clear signal to enter a trade. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
CME_MINI:NQ1!Long
by stock_adelie
BNB/USDT 1DInterval Targets and StoplossHello everyone, let's look at the 1D BNB to USDT chart as you can see that the price is moving below the local downtrend line. Let's start by setting goals for the near future that we can take into account: T1 = $317.4 T2 = $322.8 T3 = $328.3 T4 = $336.1 AND T5 = $346.5 Now let's move on to the stop loss in case the market goes down further: SL1 = $305.9 SL2 = $396.1 SL3 = $282.8 AND SL4 = $265.1 Looking at the CHOP indicator, we see that there is still a lot of energy on the 1D interval, while the MACD indicator indicates that it will remain in a downtrend. The RSI indicates that it is trying to break out of a downtrend at the top.
by cryptodailyuk
USDRUB updateUR has reached strong fibo level. It seems like it will continue to rise(big bullish candle). But I wouldn't be surprise if it start to revers now. Why? Firstly it has touched strong resistance level that was holding price almost for 6 years. So its a strong level even though it was broken in February 2022. Secondly. If you look at dollar index (green line) which represents strength of a dollar you will see that it's strongly bearish. As you can see from correlation UR and DI has positive correlation (if dollar falls ruble falls also) but with some delays. For example DI started to rise in May 2021 when UR had made big pish up only in November 2021. I still see UR in sell zone. But April will be deciding month for Russian ruble (and most currencies). If price will continue to rise next key levels are 87-89 and 90 rubles per 1 dollar. First target as I have mentioned in my previous analysis is 50 rub/dollar and max target is 30 rubles per dollar. Let see how it'll go. Good luck:)
Short
by margarita_morozova
4
Silver set to explode. According to my Elliott wave analysis, Silver is in the early stages of a third impulsive wave, which is part of a larger third impulsive wave. This is the most explosive wave, with significant price gains expected. The recent breakthrough of a crucial Fibonacci resistance level at $24.66 confirms this outlook. With this level breached, silver now has a clear path to reach $45 in the coming months, with a potential fifth impulse wave pushing it to around $83. Brace for some serious excitement in the coming months!
TVC:SILVERLong
by joerivdpol
GBP / USD - DOES IT NEED A CORRECTION?GBP / USD - DOES IT NEED A HEALTHY CORRECTION? My analysis today deals with how the further course of our popular Forex pair "GBP / USD" could look. > The technical analysis and selected indicators, confirm the thesis of an imminent sell-off. = Why, that I explain after the introduction. The DXY / USD has a non-negligible impact on GBP / USD, as the whole economy depends on its behavior, and it directly competes in composition. > Meanwhile, this seems to take a run-up, for a final upswing, which could put the currency pair under massive selling pressure. > Regardless of these selling pressures coming from the USD, GBP / USD has arrived at a very strong support, which suggests a rising price. In the following, the analysis goes into detail, so that the significant levels and areas are known to you. For this purpose, I have performed a "MULTI-TIME-FRAME" analysis, which refers to the higher time units (month & week) and thus makes the big picture visible. Normally all time units below "1h" are called noise, but even a - 1h-4h - analysis is of no use to you, if the knowledge about the big and whole is missing. > We traders know that no one can predict the future, and that is exactly why you have to be prepared for all initial situations. > If the DXY should rise again, that means "BLOOD" for the traditional and crypto markets. > This creates dangers, but also opportunities - it is important to look at the big picture. > Which levels are RELEVANT, I have explained in detail in the following pages. Table of contents 1st part = INTRODUCTION 2nd part = TECHNICAL ANALYSIS = Monthly - Time frame = Weekly - Time frame 3rd part = CONCLUSION PART ONE "INTRODUCTION" After "GBP/USD" tried to break out of its previously existing downtrend in May|2021, a strong sell-off was subsequently unleashed. > This sell-off extended to September|2022, where we formed our currently existing low. > After this significant low of 1.03565 USD (lowest exchange rate since the existence of the GBP), investors' fears subsided a bit and a massive buying of 20.19%, to 1.21534 USD occurred (in less than 2 months). > Due to this extreme upward movement, we can assume that a correction is overdue. This is needed so that a healthy recapture, an acceptable exchange rate can arise. > In recent weeks, the strong upward movement has stalled a bit, making the correction I expect more and more likely. CONTRA | SELL-OFF = Despite the strong reasons for a sell-off, the price can approach the not yet tested downtrend line, which would be at approx. 1.28 USD. = In addition, the price has regained a sideways trend channel and has respected it so far. PRO | SELL-OFF = The significant Fibonacci level of 0.65 (of the previous upward movement) was reached and tried to be broken twice without success. = The "DAILY" - MACD + RSI - both show divergences, which further strengthens the correction thesis. > Once you look at the DXY (USD index) at the higher time levels, the further sell-off in the traditional markets becomes even more likely. (My DXY analysis is linked below this post, for confirmation purposes). SECOND PART TECHNICAL ANALYSIS For the analysis of the higher time levels, I proceed according to the onion-skin principle. > MONTH - level > WEEK - level > DAY - level These are divided into > SUMMARY > CHARTS The charts are presented in logarithmic scaling, as the given information can be visually presented in a more harmonious way. (This also refers to Fibonacci levels.) 1st MONTH – Time frame SUMMARY The trend channel shown in the chart, in turquoise, finds its root in 1972 and has been able to maintain itself as a legitimate trend channel since then. Its mid-trend line showed reactions when confronted and was respected by the market. > The price is in the area below the mean line and had unsuccessfully challenged it in 2021. The trend channel shown in the chart, in purple, formed since 1976 and represented a hidden sideways channel. > The price is far from the channel and will not provoke a confrontation in the coming months. The trend line drawn in the chart, golden, has its origin in 2007 and proved to be a very strong resistance. > The price challenged this between "early 2021 - to early 2022" unsuccessfully and subsequently experienced its strong sell-off. As we go into more detail about the "SUPPLY & DEMAND" zones, you can take a closer look at the following "DEMAND" + "SUPPLY" zones on the chart. > The "DEMAND" zone 1, is STRONG = Played a role in the last bottom formation. > The "DEMAND" zone 2, is VERY STRONG = Played a role in the last bottoming out. > The "SUPPLY" zone 1, is STRONG = followed a strong move + it goes along with the mid-trend line of the largest trend channel (origin | 1972) The Fibonacci retracements should serve us as additional confirmation, and have been taken into account in past movements (last decades). > FIB 1 | will serve as resistance should the price attempt another run-up. > FIB 2 | represents all relevant levels, for a possible sell-off. Past highs and lows usually serve as resistance/support, one of which we have. > OLD LOW | 03/2020 > OLDEST LOW | 1985 Some levels of interest are in front of us, which in the last months + years, played a strong role for the market. > The most relevant at the moment - POIs are (1.20 + 1.185 USD) - and have been an important mark since the year 1984. In addition, they currently take a very strong support role. > The other POIs are by no means negligible and will play a role in the price development in the coming days, weeks and months. (Therefore, take your time and transfer the ones that are relevant for you into your chart). OVERVIEW CURRENT RELEVANT CHARTS Overall picture without POIs + without FIBONACCI Overall picture without POIs Overall picture without FIBONACCI ATTENTION In the following time levels, I will only deal with the NEW, added elements. . 2nd WEEK – Time frame SUMMARY IN ADDITION TO THE ALREADY ANNOUNCED TREND CHANNEL + TREND LINES, FURTHER VISIBLE. The trend channel shown in the chart, purple, finds its root in 2016 and since then has been able to maintain itself as a legitimate trend channel. Its mid-trend line showed reactions when confronted and was respected by the market. > The price is in the lowest area of the channel and had regained it. Despite the successful recapture, the price does not seem to be able to hold this position for much longer. The trend lines, drawn in the chart, have the following characteristics. > The - golden - older line served as an excellent support line in the past and was only temporarily broken in 2022 by a "fake-out". > The - golden - line with the shorter history is our current down-sale trendline and would come into play in case of a further rise. > The - turquoise - line will serve us as a "POI support line" during the following correction, as it represented a strongly contested area in the past. The monthly "SUPPLY & DEMAND" zones are joined by others from the weekly view that coincide with other resistance / support elements. > The "DEMAND" zone 1, is VERY STRONG = followed a strong move + was not tested by the price so far + is covered by a monthly demand zone > The "SUPPLY" zones 1+2+3, are WEAK = each followed a Weak move and do not receive additional overlap from a Monthly Supply Zone > The "SUPPLY" zones 4, is VERY STRONG = followed a very strong movement + is covered by a monthly supply zone As further Fibonacci additions, we have four more elements: > FIB 1 | will serve as support, but should not be of great relevance. > FIB 2 | represents a possible target level, for a possible sell-off. > FIB 3 | represents all possible correction levels, for a possible sell-off. > FIB 4 | represents all possible levels for a further price increase. CHARTS Overall picture Overall picture without FIBONACCI THIRD PART CONCLUSION "Is the pound losing its global position as one of the strongest currencies?" If you answered YES to this question, let's look into the reason. > Do you think this is only due to BREXIT, or is the reason a bit more complex? > Let me know in the comments what you think could be another reason and will be in the future. In summary, based on technical analysis, there are strong reasons for a correction. > Since the second attempt to break the 0.65 FIB, less and less strength is showing in the GBP. > A possible break of the resistance elements is not impossible, but highly unlikely. > The divergences in the daily RSI + MACD, suggest a bearish sell-off. For this reason, I assume a weak GBP exchange rate and a strong USD and an accompanying sell-off in the traditional and crypto markets. > Positioning after confirmation of this thesis = SHORT. If this idea and explanation has added value to you, I would be very happy to receive an evaluation of the idea. Thank you and happy trading! ZIEL IST DIE AUTARKIE | THE GOAL IS SELF-SUFFICIENCY
Short
by ZielIstDieAutarkie
5
UNI/USDT 4HInterval Targets and StoplossHello everyone, let's look at the 4H UNI to USDT chart as you can see that the price is moving above the local downtrend line. Let's start by setting goals for the near future that we can take into account: T1 = $6.11 T2 = $6.25 T3 = $6.45 AND T4 = $6.72 Now let's move on to the stop loss in case the market goes down further: SL1 = $5.99 SL2 = $5.89 SL3 = $5.82 AND SL4 = $5.75 Looking at the CHOP indicator, we see that there is still a lot of energy to move on the 4H interval, while the MACD indicator indicates entering a local uptrend. On the RSI, we can see an increase in the upper part of the range, despite the room for price increase, it is worth being careful.
by cryptodailyuk
LTC/USDT 4HInterval Resistance and SupportAs the second chart in today's review, we'll be looking at LTC against USDT, also on a four-hour timeframe. First of all, using the yellow line, we can mark the downtrend line from which the price went up, while locally, we can mark the uptrend channel in which the price is currently holding with blue lines. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the support, and as you can see, we have the first support at $88.69, then we can mark the support zone from $86 to $84, however, when the price falls below this zone, we can see a drop around the support at $76.77. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here, the first resistance that LTC is fighting is at $90.09, the next resistance is at $96.98, and then the third resistance at $105.58. The CHOP index indicates that the energy is slowly gaining strength. The MACD indicator indicates a local downtrend. On the other hand, on the RSI, after a slight rebound, we have room for growth, when the price breaks the current resistance, we can see an attack on the second resistance.
by cryptodailyuk
DOT/USDT 4HInterval Resistance and SupportHello everyone, I invite you to review the DOT chart in tandem with USDT on a four-hour interval. As we can see, the price has broken out of the local downtrend channel which we have marked with blue lines and is struggling to hold the price. Let's start by marking the support spots for the price and we see that we first have support at $6.06 just as we return to the descending channel, but if the price goes lower, we have another support at $5.92, then at $5.81. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has now bounced off a strong resistance at $6.27, then we have a resistance at $6.35, a third resistance at $6.42, and then a fourth resistance at $6.48. The CHOP index indicates that there is some energy left for the next move, the MACD confirms the ongoing local uptrend, while the RSI has reached the upper part of the range after a nice price increase and now we have a healthy correction.
by cryptodailyuk