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Fibonacci Extension

Market Insights: Navigating Bitcoin and DYDX📅 Let's dive into today's analysis. The market continues to range, and Bitcoin had a fake breakout yesterday, returning to its range box. Today, it might finally find a suitable condition for a long position. Today's altcoin focus is DYDX, which presents a good shorting opportunity. 👑 Bitcoin Analysis 🔄 As usual, I'm analyzing Bitcoin in the 1-hour timeframe. We had a short entry trigger at 60718, but after breaking this level, the price couldn't continue its downtrend and returned to its range box. If you entered on very low timeframes like 15 minutes, you probably hit a risk-to-reward ratio of 2 and hit your target. However, if you entered in the 1-hour timeframe like me, you would have hit your stop loss, which happened to me as well. 🔍 Now, let's find today's trading triggers. After the fake breakout, we can say the first sign of buyers entering the market was seen. However, it's Saturday, and the volume is very low, so we can't say that buyers are showing a weak trend. I think it's better to stay away from the market today and tomorrow due to low volume, but we should check the market every few hours because we might miss a sharp move. 📈 For a long position, I personally will wait for the 62168 trigger, as it will likely take some time for the price to reach it. By then, the weekend will be over, and the market will have more logical volume. If the trigger breaks quickly before the weekend ends, we can conclude the market has momentum, making it viable to open a position. 📉 For a short position, 60718 is still suitable, but if the price revisits and reacts to this level again, it will be even more suitable for a short. I'm not focusing much on Bitcoin short positions because DYDX has a better trigger for shorting today compared to Bitcoin. 💱 DYDX Analysis 🗂 Let's move on to DYDX. There's no need to explain the project in detail because I covered it fully in previous analyses. However, to give a brief summary, DYDX is a decentralized platform where you can open positions. For more details, you can check out past analyses. If you want a comprehensive analysis of DYDX covering all timeframes and a detailed project explanation, let me know in the comments, and I'll do that for you. 🔍 In the 4-hour timeframe, as you can see, there's a downtrend starting from the break of 1.935 down to 1.306. Drawing a Fibonacci retracement, we see it corrected up to 0.382 and formed a range box between 1.1306 and 1.505. On a smaller scale, there's a smaller range box between 1.434 and 1.343. 📈 For a long position, we can enter after breaking 1.434, aiming for 1.505. The next trigger is breaking 1.505, which could move the price towards 0.618. The final target for this position is 1.794. 📉 For a short position, we have two triggers: 1.343 and 1.306. If the price makes another downward move, it can reach 1.030, a level indicated by the Fibonacci extension. 📊 For all triggers, note that volume should increase in the direction of the position you want to open. Otherwise, we have a divergence, and the trend can't be trusted. 🧩 Regarding RSI, there's an ascending triangle. If the trendline of this triangle or the 57.16 resistance breaks, it confirms the activation of this pattern, providing a confirmation for the position you want to open. The trendline break trigger is 36.71. 📝Both Bitcoin and DYDX are at pivotal points. Bitcoin's low weekend volume suggests caution, while DYDX presents clear short and long opportunities based on the triggers discussed. Monitor volume closely and ensure confirmations through RSI patterns to make well-informed trading decisions. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
3
Bitcoin - Ultimate 2025 target + Name your coinBitcoin should bounce soon from the 62,400 level and continue in the bull market to an all-time high. Why 62,400? All details are in my previous analysis in the related section down below. Critical news: Looking at AI-generated images and listening to AI music causes internal mental bleeding. Regulations on AI will follow. Bad news for AI crypto coins? (Source: X). Michael Saylor's MicroStrategy Acquires 11.9K More Bitcoin for $786M. The company now holds 226,331 bitcoins worth just shy of $15 billion. The company's bitcoins were purchased at an average price of $36,798 each. (Source: CoinDesk). To establish the ultimate profit target for the whole bull run, we need to use the Fibonacci extension and Elliott Wave theory. Throw away all Fibonacci levels on Bitcoin and use only following that works: 0.382, 0.500, 0.618, 1.000, 1.382, 1.618, 2.000, 2.382, 2.618, 3.000 etc......First, we need to make an Elliott Wave count, and after that, we can use the Fibonacci extension tool. As per my Elliott Wave count, we are in the final wave (5) of the whole bull cycle. That means we are in an impulse wave (1)(2)(3)(4)(5) and finishing the fifth wave. In general, to establish the profit target for wave (5), we need to use the Fibonacci extension tool from the start of the bull market, to wave (3), to wave (4). Usually, we want to target the 0.382 fib extension or the 0.618 fib extension. But in this case, it seems to be too low, so I am targeting a 1:1 FIB extension because of the wave (2) look. This gives us a profit target of 114,853. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Also, name your coin in the comment section and I will tell you my opinion + TA. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
269
DXY Weekly Analysis and Its Impact on Forex PairsLet's dive into today's analysis. Today, I want to share a Forex analysis with you, focusing on the DXY index. The timeframe for this analysis is weekly, but we'll also take a look at other timeframes. 🧲 Long-Term Support First, let's examine the curved trend line on the monthly timeframe, which has been significant since 2008, acting like a magnet attracting the price. This trend line is a crucial support for the dollar and has kept the overall trend of the dollar bullish for years. 🔑 Key Resistance Levels Additionally, in this timeframe, if we apply a Fibonacci extension from the previous wave, we see that the top of this wave, which corresponds to 113.7, has completed at the 1 level. If this peak is breached, we could move up to 1.618, which is 131. However, there's a significant resistance at 119.76. 📰 Interest Rates and Economic Outlook Given that the US interest rate is already high, it's unlikely to increase further beyond 5.5% as it could harm the US economy in the long term. On the other hand, inflation has reached 3.25%, nearing the 2% target. Therefore, there's no reason to raise interest rates further. If they start reducing the interest rates, we could see an uptrend in stock markets like crypto and renowned global stocks such as Apple, Microsoft, Tesla, etc. If this happens, the DXY trend will turn bearish and could potentially drop back to the 89.59 support. 📅 Weekly Timeframe Analysis In the weekly timeframe, the curved trend line is also evident, and the price is near this trend. Drawing Fibonacci from the previous wave shows that the price has bounced back from the 0.5 level, overlapping with the old support at 101.195, and has created a range box between this area and the 0.236 level at 106.723, forming since late 2022. 📈 If 106.723 is breached, we could target 113.701 and the next target at 119.76. However, due to anticipated rate cuts, I believe the USD will remain bearish and won't go beyond 113. 📉 For a decline, if 101.195 breaks and the Federal Reserve starts lowering rates, we could expect a drop to the 0.618 and 0.786 Fibonacci levels, which are 98.023 and 94.374, respectively. 🔎 RSI Indicator The RSI is ranging between 66.02 and 34.17. Given that FOMO is less powerful in the Forex market compared to crypto, if we reach either of these numbers, it might be time to take profits as the trend could weaken. 💵 Impact on EURUSD and USDCAD 🇪🇺 EUR/USD If the DXY drops, we might see the EUR/USD break the 1.1064 resistance, and even move towards 1.1205, and then target 1.16588 and 1.22423. However, 1.22423 seems distant and unrealistic given Europe's current strength. In case of a DXY increase, the EUR/USD could head towards the historical low of 0.96801 after breaking 1.05195, though it's likely to find support sooner. 🇨🇦 USD/CAD For USD/CAD, a rising DXY could push it to 1.43687 after breaking 1.38713. Conversely, if the DXY drops, the trend line might break, and after breaking 1.31457, it could move towards 1.20374. 📝 Conclusion In summary, the DXY index is at a critical juncture with significant supports and resistances on both the monthly and weekly timeframes. Anticipated changes in US interest rates could significantly impact its trend. While the USD may see some strength in the short term, a long-term bearish trend seems likely, particularly if interest rates begin to decrease. This will, in turn, affect major Forex pairs like EUR/USD and USD/CAD, with potential bullish moves in EUR/USD and bearish moves in USD/CAD depending on the DXY's movement. Always remember to conduct thorough research and apply sound risk management in your trading strategies.
TVC:DXYShort
by itsparham96
4
IMX Analysis: Daily Review and Bitcoin Update🔍Let's dive into today's analysis. Today, we're focusing on the IMX coin, examining it in the daily timeframe. But before we get into that, as usual, let's review the daily Bitcoin analysis and provide an update on yesterday's analysis in the 1-hour timeframe. 👑 Bitcoin Analysis 1-Hour Timeframe Bitcoin analysis is in the 1-hour timeframe. As mentioned yesterday, the market needs to establish a new structure. Given that today is Saturday and market volume is low, it is advisable not to open any positions today and tomorrow. 📈 After the recent drop, we saw a slight upward movement with very low volume, which appears to be a pullback to 64530, overlapping with the middle line of the descending channel. If selling volume enters the market simultaneously with a rejection from this area, despite it being Saturday, I might open my position with less risk. The target for this position could be the channel's bottom or 63343. 🔑 Breaking 44.53 can be a good confirmation for this risky short position. ⚠️ Currently, I don't have a trigger for a long position and won't open one until buying volume enters the market. If you want to open a long position, breaking 64530 could be suitable, but I don't recommend opening a position with this trigger, and I won't either. 🎮 IMX Analysis 🔫Overview IMX operates in the field of crypto games, providing infrastructure for other projects. It allows both game creation and gameplay within its ecosystem, making it a comprehensive platform for enthusiasts of crypto games and play-to-earn models. 📅Daily Timeframe Looking at the chart in the daily timeframe, the first thing that stands out is the head and shoulders pattern, with its trigger already activated. This pattern emerged from the coin's upward movement from 0.4915 to 3.6567, with the trigger appearing at the 0.382 level. Upon breaking this trigger, we can aim for the targets indicated in the chart. 🎯 The first target is the 1 Fibonacci extension point on the downside, overlapping with the 1.2463 support, forming a strong area. The second target is an extremely strong area for several reasons: it is the 1.618 Fibonacci extension point and one of the most important support levels for this coin. Additionally, it is the 0.786 Fibonacci retracement point and the first target of the head and shoulders pattern. 🔻 Currently, the trend for this coin appears bearish. Breaking 23.75 in RSI can introduce more downward momentum into the market. However, for a long or spot purchase, I'll wait until the price moves above the 1.7739 area and RSI breaks 39.60. Only then will I consider a long position. 📝 In summary, while the current market sentiment for both Bitcoin and IMX is bearish, careful observation of key levels and triggers can present potential trading opportunities. For Bitcoin, caution is advised with low market volume over the weekend. For IMX, the head and shoulders pattern indicates possible downward targets, but significant levels must be watched for potential reversal signals. Always wait for volume confirmation to avoid false moves and optimize your trading decisions.
Short
by itsparham96
2
Bitcoin - historical bull trap! + Name your altcoinMake sure you prepare for this huge historical bullish trap on Bitcoin. Why? First, look at the price action. We have a bullish flag, that's what everyone sees. The market makers count every cent on their accounts, and this is a pretty good opportunity for them to make a lot of money by trapping retail traders. What will a typical retail trader do in this situation? Probably buy/long BTC at around 71k to 75k. That's where the whales step in and start selling, sending BTC back to 63k! Why 63k? This is a strong support because we have an unfilled FVGAP + Point of control (POC) of the previous market structure. I really don't see any bullish sentiment during the summer season, as statistically, Bitcoin has been going sideways.  From the Elliott Wave perspective, we are in wave 5 of the first impulse wave, which is of course very bullish for the long-term, but buying at the end of wave 5 is probably not a good idea. What successful traders generally do is wait for an ABC corrective pattern to form before buying. In the comment section, name your altcoin, and I will make a technical analysis for you and my opinion! Please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
261
Pulse of an Asset via Fibonacci: AAPL at ATH Impulse Redux"Impulse" is a surge that creates "Ripples", like a pebble into water. "Impulse Redux" is returning of wave to the original source of energy. "Impulse Core" is the zone of maximum energy, in the Golden Pocket. Are the sellers still there? Enough to absorb the buying power? Reaction at Impulse is worth observing closely to gauge energy. Rejection is expected on at least first approach if not several. Part of my ongoing series to collect examples of my Methodology: (click links below) Chapter 1: Introduction and numerous Examples Chapter 2: Detailed views and Wave Analysis Chapter 3: The Dreaded 9.618: Murderer of Moves Chapter 4: Impulse Redux: Return to Birth place <= Current Example Chapter 5: Golden Growth: Parabolic Expansions Chapter 6: Give me a ping Vasili: one Ping only . . Ordered Chaos every Wave is born from Impulse, like a Pebble into Water. every Pebble bears its own Ripples, gilded of Ratio Golden. every Ripple behaves as its forerunner, setting the Pulse. each line Gains its Gravity. each line Tried and Tested. each line Poised to Reflect. every Asset Class behaves this way. every Time Frame displays its ripples. every Brain Chord rings these rhythms. He who Understands will be Humble. He who Grasps will observe the Order. He who Ignores will behold only Chaos. Ordered Chaos . . . want to Learn a little More? can you Spend a few Moments? click the Links under Related.
NASDAQ:AAPL
by EuroMotif
2
GOLD - Starting another wave up to 2720 (+17%)GOLD is in a strong bull market, that's for sure. The key to success is to trade with a trend to increase the probability of your decisions. GOLD is likely to make a multiyear bull market and can double or triple in price in a few years. Of course, if you hold GOLD, that's very smart for the upcoming years. But right now, we need to take a look at short-term opportunities for swing and day traders. What I generally recommend is to trade with the bullish trend and employ only long-term strategies. Avoid shorting GOLD in general. As you can see on my chart, we have an ascending parallel channel, and the price is near its dynamic support upward-sloping trendline. What we want to do here is enter a long position. Also, my Elliott Wave count suggests that GOLD is going to make another 2 huge waves to the upside in the following few weeks. Always start making your Elliott Wave count from the bottom of the trend. This trend started on October 5, 2023. If you see something like (1)(2)(1)(2) at the start of a trend, it is called an Elliott Wave nest, a strong bullish setup. This occurs very often on the stock market and in Bitcoin, so make sure you learn this technique. Overall, I am very bullish on GOLD and if you trade futures, you can make good money with leverage. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
OANDA:XAUUSDLong
by Xanrox
24
Bitcoin - 300,000 USD by 2025, here is why!There is almost no doubt that Bitcoin will continue in the bull market in 2024/2025. After the ETF approval, Bitcoin is going up as institutional investors gain confidence in this type of investment. But what all people want to know is when to sell Bitcoin and prepare for the next bear market. Bitcoin's bear markets are very devastating, and the usual correction is around 80% - 70% from the peak. That's why it's good to time a good exit point if you are a trader. If you are a hodler, then you probably have your bitcoin in a Trezor hardware wallet and you don't care about volatility, even though it's not nice to see that your portfolio is down by 70%. To determine the exit point, we need to use technical analysis on a weekly/monthly scale. In the chart, you can see price action in recent years and all these swings during previous bear markets. We can draw a massive ascending parallel channel and take a look at the market cycles. Selling at the top of the upward-sloping trendline is definitely a good idea, but will Bitcoin offer this opportunity? Sometimes markets turn bearish just before key levels.  From a time perspective, October or September 2025 seems like the right time to sell Bitcoin and go into fiat or stable coins. Then buy again, cheaper after the crash. The 2021 peak is a strong level, and Bitcoin should never go below this level. I think Bitcoin volatility should decrease, and we should not see tremendous crashes anymore, but a 50% or 60% crash is something that is definitely very likely. Forget about 80% or 90% of the crashes that happened in 2015 or 2018. This chart is a representation of the logarithmic scale. If you switch to a classic linear scale, we get a target for the whole bull market of only around 130,000 USD. I will do a linear scale representation in one of the next analyses, so make sure you follow my account so you don't miss this very important analysis! Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
BITSTAMP:BTCUSDLong
by Xanrox
59
GOLD - Will double in price in a few years! (cup and handle)GOLD is at its all-time high levels and will continue in the price discovery action. Why? On the chart, you can see a cap and handle formation that is currently breaking out on the monthly chart. This is a huge event for gold, and therefore the price can double in a few years from now. Does it mean that we will see a multi-year bull market? Definitely yes. This cup and handle formation is fully confirmed. The monthly candle closed above the neckline of this pattern with a bullish engulfing candle.  How to trade? If you are an investor, simply buy gold and hold, you can expect a pretty good and reliable return in a few years. If you are a swing trader, I recommend trading with the trend and going for buy/long only strategies. Do not short gold on futures, as it will lower the probability of success. And if you are a day trader, also focus on long-only strategies, and you can potentially short GOLD, but only with limit orders that you put above the current price. Avoid trading bearish breakouts, as they tend to take liquidity (stop losses) and reverse.  What is the profit target for gold in 2026 or 2030? There is no historical price action, so to determine our profit targets, we need to use the Fibonacci extension tool and Elliott Wave theory with simple trendlines. On the chart, you see my Fibonacci projection (wave 1 -> wave 2). Usually, the market tends to react to the 1.0 extension, the 1.618 FIB extension, and the 2.0 extension. These are strong levels, but only for a short-term bounce. As my title says, I am expecting a huge bull market, so do not forget to follow my account to stay updated! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
OANDA:XAUUSDLong
by Xanrox
29
New ATH after Range Shakeout ???Bitcoin (BTC) is exhibiting a bullish pattern that suggests a potential breakout to new all-time highs (ATH). The formation of a horizontal accumulation range and a recent bullish engulfing pattern indicate a strong possibility for significant upward price movement. Horizontal Accumulation Range: BTC has been trading within a defined horizontal range on the daily chart for an extended period. This consolidation phase suggests that supply and demand have reached an equilibrium, creating a potential launchpad for a breakout. Bullish Engulfing Pattern: Recently, BTC formed a bullish engulfing pattern, where a bullish candlestick completely engulfs the preceding bearish candlestick. This pattern is a strong reversal signal, indicating a potential shift in momentum to the upside. Anticipated Breakout and ATH Target: Based on the horizontal accumulation range and the bullish engulfing pattern, I anticipate a breakout from the range and a surge towards new ATHs. The initial target for the breakout is the previous ATH of around $73,000, with the potential to extend further towards $80,000 or even higher. Potential Retest and Support: While a bullish breakout seems imminent, a potential retest to the 62,000 support level could occur before the continuation of the uptrend. This retest, if it happens, would provide an opportunity for new buyers to enter the market and reinforce the bullish momentum. Overall Bullish Outlook: The combination of the horizontal accumulation range, the bullish engulfing pattern, and the overall market sentiment suggests a strong bullish outlook for BTC. While there may be short-term pullbacks, the longer-term trend appears to be favoring the bulls.
Long
by Yaroslav_Krasko
Bitcoin is ready to reach a new all time high! (Buy now)Bitcoin finally revealed its direction and its bullish. On the chart we can see 2 parallel channels. The first one is currently breaking out and there is no doubt that the second parallel channel will break as well. Next resistance is exactly at the top of the first parallel channel, I am expecting a pullback from this strong dynamic line. From the Elliott Wave perspective, the WXYXZ corrective pattern is now confirmed, so this is also a very bullish sign for the next weeks and months! On the 1h chart I can spot a strong buying activity from whales, so this also adds to my bullish bias. When new all time-high? And what is the ultimate target for this bull run in 2024/2025? I will reveal my strong technical analysis in the next post, so make sure you follow my account! Right now it's strongly recommended to trade with the bullish trend, that means only long strategies and do not short Bitcoin on the futures market. This will increase the probability of success for your trades. I am bullish as all bearish scenarios were invalidated.
Long
by Xanrox
29
3 Best Fibonacci Tools For Forex Trading Hey traders, In this article, we will discuss 3 classic Fibonacci tools you must know for trading different financial markets. 1️⃣ Fibonacci Retracement Fib.Retracement is my favorite fib.tool. It is aimed to identify strong horizontal support and resistance levels within the impulse leg . We draw this tool based on the high and low of the impulse (from wick to wick) and it shows us POTENTIALLY strong structure levels determined by Fibonacci numbers . Common Fib.Retracement levels are: 0.382, 0.5, 0.618, 0.786 . Once one of the levels is reached, wait for a confirmation before you open a trading positions. Above is the example of an application of a fibonacci retracement tool based on a bearish impulse leg on EURUSD. 2️⃣ Fibonacci Extension Fib.Extension indicates strong horizontal support and resistance levels beyond the impulse . Similar to Fib.Retracement tool, Fib.Extension is drawn relying on impulse's high and low (from wick to wick) and it shows POTENTIALLY strong structure levels where the consequent impulses may complete based on Fibonacci number. Common Fib.Extension levels are: 1.272, 1.414, 1.618 . Once one of the levels is reached, wait for a confirmation before you open a trading positions. Above is the example of fibonacci extension tool based on USDJPY based on a bullish impulse leg. 3️⃣ Fibonacci Channel Fib.Channel shows strong vertical supports and resistances (trend lines) within the channel . The tool is drawn based on the trend line of a valid parallel channel (based on wicks) and it shows POTENTIALLY strong trend lines from where the market may retrace . The trend lines within Fib.Channel rest on 0.382, 0.5, 0.618, 0.786 Fib.Levels . Once one of the levels is reached, wait for a confirmation before you open a trading positions. Above is the example of a fibonacci channel on USDCHF. Remember that Fibonacci's are simply tools in a toolbox. In order to use them properly, you need to build a trading system around them, test it and confirm its efficiency.
OANDA:XAUUSDEducation
by VasilyTrader
3
#Bitcoin [ Inverted Head And Shoulders - Short Squeeze Combo ] BTCUSD has printed an allbeit slanted yet very nice inverted head and shoulders that has retested and played out perfectly so far. The measured move coincides with multiple high time frame short liquidation levels (Not marked on this chart) with the biggest level being a 6 MONTH high volume liquidation level at $74,045. This strong of a #shortsqueeze could easily amplify the measured move, which I have extended, using the 150%-161.8% fib levels. The extension also lines right up with where all short liquidation levels end on the Coinglass heat map.
COINBASE:BTCUSDLong
by DoozerInvest
BTCUSD: Monthly BHG Confirmed; Now Targeting $146,000 - $174,000Bitcoin after bouncing from a Bullish Cypher PCZ and Breaking out of a Falling Wedge has back tested the wedge as support and has closed bullishly above the backtest and now we have a confirmed Break-Hook-and-Go on the monthly timeframe as well as Hidden Bullish Divergence on the MACD. If this is truly the bottom then I would think Bitcoin is likely to complete an AB=CD BAMM that will take it to a 1.618 Fibonacci Extension which sits at $173,805
INDEX:BTCUSDLong
by RizeSenpai
GOLD - Buy after this pullback!Gold is extremely bullish and is expected to double its value in the next few years. We want to take advantage of this bull market and implement long-only strategies on futures. Right now, GOLD is breaking out of the descending channel, but I want to see a retest of it. The price broke out of this channel but created a fair value GAP. These GAPs tend to be filled sooner or later, so do not FOMO in and wait for a proper retest. Then we can open a leveraged trade with a high probability of success and a high risk-to-reward ratio. From the Elliott Wave perspective, we have finished the WXYXZ corrective pattern, which is also great to see! We are starting a brand new impulse wave to the upside, so prepare your limit orders. It's time to buy gold again. The next significant resistance is the previous ATH. I do not really see anything special that is worth mentioning. Take only the best opportunities with a high success rate. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
OANDA:XAUUSDLong
by Xanrox
17
52,838 and 06 cents: BTC most likely Retrace Target almost hereUpdate to my ongoing analysis of this bull run. Correction proceeding exactly per plans. We are nearing some key levels to watch. The bottom should be pretty close to here. $ 56,265 - 56,799 is the minimum expected. $ 52,838 - 53,659 is best Guess and Ideal target. $ 48,090 - 48,750 is the Overshoot (backboard). . Previous plots and logic that lead us here (click the links): - 73k Top Call no one expected - Retrace Roadmap of Support zones - 52.8k imagined but not believed - Impulse Redux confirms the targets
COINBASE:BTCUSD
by EuroMotif
4
USDJPY🗝️ LEVELS TO WATCH👀 AND WHY 🤔 Hello Awesome Traders! I trust you had a rejuvenating weekend and are geared up for the exciting trading opportunities the new week has in store. Let's dive right into USDJPY, where a compelling setup awaits our attention. USDJPY has formed an ascending triangle pattern on its weekly chart, signaling a potential bullish move. The recent breakout above the resistance level at 151.944 marks a significant development, offering traders an opportunity to capitalize on the upward momentum. While some may view the weekly chart as a longer time frame, it's important to note that setups like these can yield numerous trading opportunities on lower time frames. For seasoned traders, this setup presents itself as a golden opportunity, ripe for exploration. Upon further analysis, I've identified a key level at 151.008 where we should keep a close eye for potential long positions. I'll keep you updated on any developments. In terms of profit-taking, it's wise to aim for partial profits to lock in gains along the way. Consider targeting the following zones: Partial Profits at 38% Fibonacci retracement level: 161.377 Target Zone 1 at 62% Fibonacci retracement level: 167.159 Target Zone 2 at 79% Fibonacci retracement level: 171.377 Stay tuned as we monitor this setup over the coming weeks, or even months. Warm regards, TCPLTP
Long
by TradeChartPatternsLikeThePros
2
📈Strategic Insights on DYDX Movements🔔🔍Yesterday, Bitcoin was rejected at the 63,200 resistance level and remains within its trading box, potentially heading towards the bottom. As Bitcoin dominance continues to rise, altcoins have suffered more, with many breaking through their support levels and continuing to decline. One such altcoin is DYDX, a DeFi token that allows users to open long or short futures positions with leverage in a decentralized environment. This appeals to those concerned about the security of their assets and who do not trust centralized exchanges. ⏳Previously, I provided a spot market analysis for DYDX. Since then, the stop-loss has been triggered, and the trade ended in a loss. However, as emphasized repeatedly, proper risk management should minimize your losses. At worst, you should only be down 0.5-1% of your capital, which should be manageable given the risk coverage from other recommendations (such as TON). With this in mind, let's analyze DYDX in the 4-hour timeframe and identify trading triggers for futures positions. 📉The chart clearly shows a downtrend, suggesting that short positions are more favorable. The trigger for a short position was at 1.951, which has now been activated. The price is likely to move towards the target of 1.794. Based on this, you can either enter a short position with the current candle or drop down to a 15-minute timeframe to find a more precise short trigger. ⚡️If you have an existing short position from higher levels, it is recommended to hold it until you observe a reversal candle or signs of trend weakness. The initial target is 1.794, but considering the move from the 0.382 Fibonacci retracement, the price could potentially reach the 1 Fibonacci extension level at 1.529, which coincides with a significant support level. 📊Given the downtrend and increasing volume in red candles, along with the RSI losing support at 31.71, we could see a sharp bearish move in the coming hours. However, the market is unpredictable, and the trend could reverse, pushing the price back into the box. If this happens, it indicates strong buying pressure and could drive the price higher. 📈If the downtrend is invalidated and the price stabilizes above 2.032, it may be a signal to enter a long position, as this would indicate a fakeout of the bearish move and introduce bullish momentum. A more reliable long trigger would be at 2.433. Until the downtrend changes, any long positions should be taken with lower risk and closed quickly to lock in profits. 📝In summary, DYDX presents a clear short opportunity given the current downtrend and bearish indicators. The target for the short position is 1.794, with a potential extension to 1.529. If the market reverses and stabilizes above 2.032, a cautious long position may be warranted, with a more secure trigger at 2.433. Proper risk management and monitoring of market conditions are essential for successful trading in these volatile conditions. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
Short
by itsparham96
Bitcoin is ready to reach 70k! Here is why.Bitcoin has finished its corrective pattern (ABC ZigZag) and is ready to go higher. My next target is 70k (69577) because we have a 1:1 FIB extension level at this price. Usually this Fibo level is pretty significant; that's why I am expecting a small crash from it, but after that, we should continue much higher, to the 1.618 FIB extension. Of course, we need more information and data to precisely establish long-term targets.  On the chart, we can see 2 parallel channels, the first is larger than the second. The larger one is still valid as the price is inside it, so we can use this knowledge to our advantage and potentially sell/short Bitcoin at the touch of the upper sloping trendline of the ascending parallel channel. But not now, Bitcoin is bullish, so enjoy the ride!  From the Elliott Wave perspective, I also have to be bullish because I see the dream setup of every Elliott Wave trader. What you want to do is catch the 3rd impulse wave and ride it until the end before the 4th corrective wave occurs. Basically, you want to trade a breakout of the 2nd wave or catch the bottom of the 2nd wave with the Fibonacci retracement tool. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
16