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Fibonacci Extension

ETHUSDT got a rejection from 0.618 Fibonacci levelThe price is creating a rising wedge on the 4h timeframe and after the rejection from the 1250$ the price is testing the dynamic support. As you can see the price got a rejection exactly from the 0.618 Fibonacci level, it's a key level. How to approach it? IF the price is going to lose the support and retest it as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
28
BITCOIN @ $12K. Will it or Won't it?Hello dear traders! Bitcoin has been trading near the crucial level of $20K during this week. Though it has been trading a little above it mostly, there have been a couple of wicks below it as well. We already have seen the hidden bullish divergence on the 1W timeframe. RSI is oversold but it is turning upwards now. There is a good chance that it can bottom out here. However, a decisive break below $20K can drop it hard to $12K indicated by the FIB extension and complete the target of Bearish flag breakdown on 1W TF.
BITSTAMP:BTCUSDLong
by MetaservCc
$NVAX starting its run?With main confluence from MACD , Stochastics, RSI and MTF EMA's, I am expecting a run to 69.28. Momentum looks to be rising on the Daily, but if you look closer on January 26th we see divergence on the MACD indicator (Orange). While price reached a low at that time, MACD has been steadily rising. Price has been driven lower through this time but MACD has been rising. This in connection with the RSI's and Stochastic's tell's me we are starting to see the run up. I committed to this trade on the 6th of June and don't plan on selling until profit target of 69.28. Depending on momentum once we've reached there, I will close part of my position to allow a possible ride to the golden pocket of the Fibonnaci indicator of .618 Ideally, this is a very technical play, I think with momentum showing to be on the higher side we should see a nice steady run up over the coming next week. Stay tuned Im working on an indicator that will help visualize market volatility and momentum. The goal of the indicator is to help you understand current market strength which direction it's favoring. Before releasing, I am going to fine tune the indicator further to make it more profitable per back testing with python. I'll release this indicator once it's ready at free cost for a limited time only.
NASDAQ:NVAX
by GreenDayTrade
5
Analyis of BTC Reactivity Zones using Time based FibonnaciImportant to Note: WEEKLY CHART BTCUSD 4 red circles 2 time-fib zones marked by grey 0 ranging from year 2017-2025 1 fibonnaci retracementt zone represents last low to high price 2800 -6900 2 black horizontal lines representing buy zone Analysis is not trading advice and subject to change. 1. Fibonnaci retracement tool marked from previous low to high of price 2800-6900 shows price breaking below previous low 2800. I decided to trace back for possible zone price would likely revisit, see RED CIRCLE 1. Circle 1 shows key price action at 1981 where BTC experienced its first major "bull run" July 2017, however, this zone was NEVER retested despite todays current price action with recent high of 6900. Thoughts: based on retracement tool price will seek to react at extension level at price 14500 or react at price 1989 based on market structure. 2. For time based fibs (do your own research for understanding). Based on RED CIRCLE 1 in year 2017 the first time based fib indicates high to low at that point. Time fib tells us that number 1-8 are irrelevant and to look for price action at numbers 13, 21, 34, 55 etc. RED CIRCLE 2 indicates BTC second "bull run" at number 13 indicated by vertical blue line. Today, 5 years later we are approaching RED CIRCLE 3 at number 21 on time fib. Thoughts: based on price that never retested the zone is still valid for buy entry and we are preparing to experience reactivity. 3. Since time based fibs proved to be true for 2017 previous bull run, i decided to compare most recent low and high price 2800-6900 using time fib, indicated by second grey zero vertical line. Again, time fib tells us that the numbers 1-8 are irrelevant and to look at price action at numbers 13, 21, 34 etc. It is key to note that at RED CIRCLE 4, number 34 and 13 create an overlap in both time based fib analsyis. This overlap also occurs 5 years from today just after the next BTC halvening event. Thoughts: based on ideas of time based fib we see multiple overlaps in MAJOR chart events expected to occur in future. Conclusion: Im looking for price reactivity for BTC within the next month (not a prediction) and will utilize 14500-2000 as a potential buy zone for the next bull run over the next few years. I don't predict the chart, I just react to it, Happy Swing Trading :-)
COINBASE:BTCUSDLong
by TeeAmoretta
Long term Crypto market outlookI have not looked closely at TOTAL crypto chart for a while, but it works bit better with Fibonacci tools and overall levels where we might expect 2022 Bear market could go. I won't go into macro details, as most already know what is here and what is coming, so there is no doubt we are going lower. Question is how low? I had 800b TOTAL mcap for crypto marked for a while as a target even before the March rally, but its interesting to see it actually aligns perfectly with Fibo extension and the most likely target that anyone should be prepared for. What would that mean for Bitcoin's price? It would coincide with hitting around 200WMA so 22-23k area and of course be disastrous for altcoins, but at this point no one should really care about them. Why did I mark 2nd level? Well the main reason is if stock market enters a panic zone due to rising inflation, costs of energy, food shortages etc., similar to 2008 recession, all hell will break lose on crypto market that did not experience yet that kind of selling pressure. If you consider how weak was the price action to the upside since we dropped closer to 25k on BTC in last sell-off and that we barely touched 23% Fibo retrace, the likelihood of extending well beyond 800B is actually quite high (I am putting it between at around 40% right now, if we drop from here after FOMC meeting next week without any move closer to 35k then I would increase likelihood to 50%). All this I think will play out in the next 6 months and the sooner TOTAL hits 800b area the more likely that it would drop lower. Keep an eye on that and BTC Dominance (still rising and will rise more), don't get tempted into altcoin purchases until we are on our way out.
CRYPTOCAP:TOTALShort
by gigisulivan
Long Term Market Overview on DAX(Ger30)Long Term Market Overview on DAX(Ger30) . We see that the overall Market is in an Up trend which is currently having a Pullback like all other Indexes but when will it stop is basically everybody's Big Question . The market seems to have two areas where it normally U-turn from. U-turn areas : 1) The Market shows that there's 2 Trendlines inner and outer, the inner trendline shows a strong U-turn Pattern where we could see a U-turn from towards our Target 16867.71. 2) I have also spotted a Gartley Pattern off the Monthly which could push the market to the 9926.68 which should U-Turn the Market towards the our Target 16867.71.
GLong
by MartinSturks