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Fibonacci Extension

Ethereum ETH - New bull market! 10 000 - 20 000 USD next TARGET! On the weekly chart, we still have an incomplete Impulse Elliott Wave and I think it's the right time to finish it! The bulls successfully defended the 200 moving average, which is very important. 200 MA is considered as a huge support/resistance zone by huge institutions and hedge funds. Check out the volume profile indicator. Here we can see a gap that acted as a support! If we take a look at the RSI indicator, we can spot a beautiful bearish trendline. As per my Elliott Wave analysis, an ABC (classic ZigZag) correction has been successfully completed, and now we can start a new impulse wave! These yellow trend lines help us identify individual impulse waves, and we are clearly missing a 5th wave. I expect tremendous pumps for selected alt coins. You can find them in the related section down below. For more ideas, please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
61
Short Natural Gas | Weekly ChartHello all, New week, new opportunities. This weeek we got some new trades, all of them shorts and all of them very interesting. Spacially, for Natural gas. As always, we follow up the the accelerate volume, this week the short volume crosses over the green volume and also in monthly chart the short volume is already greater than the long volume, so in the case the strategy is clear, short trade until long volume crosses over the red volume or until a key fibonacci supports. Have a good day
RUS:NG1!Short
by tradingconfibos
ETH just ahead of the $ 1,679 target!Hello everyone, let's take a look at the 1D ETH to USDT chart as you can see the price is moving above the local downtrend line. Let's start by setting goals for the near future that we can consider: T1 - 1679$ T2 - 1898$ and T3 - 2175$ Now let's move on to the stop loss in case of further market declines: SL1 - $ 1,452 SL2 - $ 1,345 SL3 - $ 1,257 SL4 - $ 1167 and SL5 - $ 1,038 Looking at the CHOP indicator, we can see that in the 1D range, energy has been used and the MACD indicator shows the local upward trend.
by cryptodailyuk
NZD/CHF Break downKeeping it as simple as possible with a clean chart and good explanation. Hope you will enjoy and profit. Looking at the weekly and daily time frames, the price is making lower lows and lower highs which indicates a downtrend market structure which is why I am only looking for short opportunities on this pair. After the 0.786 retracement price made a new low and came back to test the last lower low and was rejected. A possible new target for this pair is the 0.618 extension level which matches with the monthly S&R level which is around 0.5775. Also, see my 4-hour analysis of this pair for a more in-depth analysis.
Short
by alicanuz
26,567 Target UpdatedBTC reached a new low on the 4 hour, and rejected the 30MA on 4 hour. I can now understand why this has happened and why this is temporarily bullish for Bitcoin . I don't think we are dumping yet; here's why: A perfect fakeout would be to close the Weekly candle ABOVE the 200MA Weekly. This would be a HUGE BUY SIGNAL for retail buyers and many traders who don't think about what this actually means. They would just assume the bull run is back on. Literally everyone would be buying Bitcoin . Every Bear would switch Bull, and then, and ONLY THEN, does the dump begin. The liquidations would be HUGE. We currently close the Weekly on Sunday 24th. On the 25th (just like on the 25th July, 4 years ago) we reach the top - which on Kucoin would be 26,567. (Please refer to my 2 "Link to Related Ideas" to see how I measured this target originally. I have redone the extension with the new numbers to show you the updated target.) Funnily enough, if you look at my chart you can see that thick orange line above the 0.786 fib of 26,567. That thick orange line is the 200EMA Weekly. I expect this 200EMA Weekly to meet around this fib level by then, and THIS will be the REAL TOP. So around this time, the 25th would be a Monday. Now we all know that on Monday's, there are generally fake moves. So it would probably reach the top on Monday, pretend dump and then back up halfway to liquidate some late bears. Then it should start dumping around Wednesday 27th/Thursday 28th. The Monthly close would likely end up being a green Monthly candle with a wick. From then on, we descend towards 19k-18.5k before levelling out and going sideways in September.
INDEX:BTCUSDLong
by reiiss7
15
BTC$24,300 was tested which seems kinda shallow compared to the ETH move, That said this structure does sub divide nicely into 5 up and hit all fib extension measurements as far as EW is concerned. An ABC down would likely retest that triangle breakout. H4 SRSI & RSI show that the bulls can keep this thing going and run up to my original target around $25K B4 starting the ABC correction. Only time will tell. If the top is in and we have started pulling back into wave A as my chart shows then the push for wave B will pull the stoch RSI up quickly and make a lower high Vs my W5 top and confirm the analysis. Conversely breaking above with the RSI moving up slowly will cancel the A wave and mean we likely hit $25K.
COINBASE:BTCUSDLong
by Big_Mike716
4
[Bitcoin] If $21,654 support fails, consider bearish #Crack #Bitcoin #Binance #1D BTC finally broke out the $21,654 resistance, which is the 0.5 level of the Fibonacci trend extension, which has been a solid resistance since the formation of the low on June 18. With a strong bull trend, even the purple convergence top has been broken, and it is currently confirming support at $21,654. If the $21,654 support is successful, we can expect a further short-term rebound, but since there is resistance at the top of the pink bull trend channel, and furthermore, as there is resistance in the orange long-term trend line, it is difficult to view the bull trend that appeared the previous day as a bullish reversal of the long-term trend. There is also resistance at $22,580-$23,360, which was mentioned in the last briefing, so it is safe to watch whether the bull trend that emerged the previous day continues for the next 2-3 days. If the orange long-term trend line breaks out, I think it is worth taking an aggressive buy response. Until then, we recommend that you respond as conservatively as possible. If the bear trend continues further under the assumption that today's high is the high of the bear flag pattern, the expected support areas are $15,573-$15,508, $12,107-$10,909, and the overshooting level is confirmed at $8,184.72. - Summary Resistance section $22,580-$23,360 Important $24,190 Overshooting Level Support section $19,828-$19,118 Important $15,573-$15,508 $12,107-$10,909 Important $8,184.72 Overshooting Level
by Tommy_Trader
1
FTX FTT - The most bullish altcoin! Huge base + Elliott Wave FTT is one of the most bullish altcoins on the weekly timeframe, together with BNB! We have a clear very bullish structure (rectangle) and bulls successfully defended previous swing low. My Elliott wave analysis suggests that we have completed an ABC (ZigZag 5-3-5) correction and we can definitely go up from here! If we take a look at the volume indicator, we can see a very low bearish pressure, so it's really good to see. Out profit target can be 0.618 FIB extension from Wave 1 -> Wave 2, but this is just a projection for now. FTX exchange is growing really fast and there is a lot of demand for the token. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
17
BTC 4H chart - Wyckoff accumulation updateGood morning traders... Just a quick n update on my previous posts about the wyckoff accumulation... the price appears to be finding support around the previous resistance levels I suggested. Whilst most people will be looking at this as an abcde bear flag pattern which has been completed, I am taking a different view still. I have drawn on the trend lines for the bear flag pattern that most people will be seeing, but I have also combined the wyckoff accumulation with elliot waves and fibonacci extension levels to predict future price movements and future resistance / support levels for the new trend that follows a wyckoff accumulation. The bottom support level around $18.5k is a significant support level.... not just in this wyckoff accumulation, but it is also the weekly close price / resistance level from the 2017/2018 high which is now proving to be strong level of support. I'm melting in this UK Heat... all my fellow suffering Brits give me a shout 🥵🥵 Have a great day and good trading. DUB
BITSTAMP:BTCUSDLong
by GDuBFX
1