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Fibonacciresistance

BKNG may reverse SHORTBKNG is an expensive stock; it id not get that way being a slouch. Summer travel is sixty days away. The 2H chart shows the highs of February followed by a paradoxical fall with good earnings. Traders wanted better. Price fell past the Fibonacci support zone and into the lower VWAP band lines. Fundamentally German regulators are suing BKNG for some issues with deceptive advertising and promotions with partners. In the past week price again rose this time to stall in that same Fibonacci zone. The predictive algorithm of Lux Algo forecasts a rejection here with the price moving down. I will short a single share of BKNG here. The stop loss will be set at 3675 while targeting 3440 above a support zone. I am expecting of $175 in realized profits in 5-10 days.
NASDAQ:BKNGShort
by AwesomeAvani
ETH Quietly Breaks above Down Trendline ahead of the MergePrimary Chart: ETH Quietly Breaks above Downward Trendline ahead of the Merge Could ETH be strengthening in the short-term ahead of its long-awaited merge event? After crypto market's devastating bear market this year, including the bankruptcies of some crypto firms, an upgrade to ETH's network is set to occur mid-September 2022. This so-called merge event provides a technical upgrade that enthusiasts claim will make ETH's network more energy efficient and may lay the foundation for reducing the cost of ETH transactions—both of which make it more efficient compared to other networks like BTC. One analyst at Citibank says that the merge may make the network more likely to be adopted by the average person. With the merge date approaching within two weeks, ETH is showing strength, especially when compared to BTC. Consider the following comparison between MATIC, ETH and BTC, posted a couple days ago, where BTC has shown significance weakness relative to both ETH and MATIC. Both ETH and MATIC have held above key Fibonacci support levels whereas BTC has held below the same Fibonacci levels. ETH Breaks above One Key Level, but More Resistance Lies Above Ahead of ETH's merge on September 15, 2022, ETH has quietly broken above a downward trendline. This may have some significance, and supports the idea that the case for the next few weeks is not necessarily as bearish as everyone may expect. Note that this is a short-term view only. The longer-term downtrend and bear market in crypto is very much intact and will take far more than two to three weeks of bullish price action. The Primary Chart above shows the key resistance levels along with the trendline that was recently broken. These levels are labeled on the chart as $1654.31, $1726.04, and $1797.77. Note that $1654.31 as a Fibonacci retracement level also coincides with highs and lows in late August 2022 and early September 2022. This level must be recaptured before any further short-term rally can occur. The next major resistance at $1726.04 is a Fibonacci .50 retracement of the recent decline from the high on August 14. This level aligns with the highs on August 25 as well. The final resistance level is at $1797.77 and is the more important .618 retracement of the recent 2-3 week decline. Supporting the idea that prices may move higher the next couple weeks is the fact that ETH has held support at the .50 retracement of its 3-month summer rally this year. This retracement level equals $1455.78. Supplementary Chart A: ETH's Fibonacci Retracements for the June-August 2022 Rally Comparison to BTC's Recent Price Action BTC has arguably risen above its downward trendline from mid-August 2022 highs. But BTCUSD's breakout looks a lot weaker overall. In general, it is less decisive than ETH's break, probably due to the fact of the upcoming merge for ETH improving its technology. Depending on slight adjustments to BTC's trendline that are within the range of reasonableness, price may still be deemed to be struggling below the trendline or may be barely holding above it. See Supplementary Chart B below. Supplementary Chart B: BTC's Weaker Action at Downward Trendline Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction. BITSTAMP:BTCUSD COINBASE:BTCUSD KRAKEN:BTCUSD BINANCE:BTCUSDT FTX:BITOUSD CME:BTC1! CME:ETH1! BINANCE:ETHUSDT BITSTAMP:ETHUSD COINBASE:ETHUSD
Long
by SquishTrade
4
Clover Health Will Show A Technical Growth In Channel To $9.92After a false breakout due to a correction in the broader market, $CLOV has re-entered the falling channel it has broken out of and closed within it. From this area, I expect growth towards the resistance zone around $9.92 to $10.00. However, do note that this zone of resistance that we are heading for is a very strong area of resistance. In this area, we see an intersection of: 1. Dynamic resistance created by the upper parallel line of the falling channel 2. Fibonacci resistance and Horizontal resistance 3. Former $10 SPAC price floor which acts as a very strong psychological resistance Regardless, I expect a move towards it first. Would have to see how the market reacts to this level first before deciding on our next course of action. This is not an investment or trading advice so please do your own due diligence! Support this idea with likes and share your thoughts below.
NASDAQ:CLOVLong
by AntrePoint
1
#BTC - #Bitcoin #Weekly Plan This is what I see on weekly, we are making a descending triangle on the higher timeframe, also building a possible inverse head & shoulder along with Double top on both weekly & monthly chart. there is a good chance of possible rejection around the levels mentioned on the chart. let's start with the triangle first - clearly, we are building a descending triangle & we are about to hit the trendline resistance now the Double top - one of the simplest patterns to draw, on the monthly chart it is clear that we have key resistance at 10761, if we close the monthly candle near this region then this will confirm the double top idea however, as you can see on the monthly chart we have a lot of wicks so to get the best possible entry to short let's look at Fibonacci levels Back in 2019 after making ATH of 20k level price dumped down & guess where it got rejected again?? 61.8-65% level which is a Golden Pocket for the retracement. - This time around looking at history we can see Golden Pocket is between 11051 - 11291.5 - another interesting thing to look at is how we wicked on Yearly Top's Monthly candle close in 2019 Now finally this is how I am trading this idea, I would like to get average entry around 11050 but I will start laddering shorts from 10761, I am risking only 25% of what I usually trade with, that way even if I hit stop loss I will be still in profit for this month, remember I longed from 7750,8250 & 98xx. It's about being consistent, trade less but make sure when you do you manage your risk, I always look at my Monthly Profit targets, Also never wait for full targets to hit, after the price starts moving your way make sure to secure profits at key levels & move stop loss to breakeven or good profit. you can also use Leverage on Bitmex or bybit to multiply your profits but remember Leverage Trading is HIGH RISK So is Crypto trading & that's why I am legally obliged to say #DYOR remember I am not a financial advisor & this are all just my thoughts :) make sure to leave a comment & if you agree then hit that thumbs up Do not forget to check out other ideas & do share it with your friends :)
BITMEX:BTCUSD.P
by TradingV2
2