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Fibonacci Retracement

📈Ethereum/BTC Analysis: Potential Shifts in DeFi Dominance🚨🔍Today, we're analyzing Ethereum/BTC in the weekly timeframe, crucial for understanding Ethereum's position relative to Bitcoin, especially amid the DeFi landscape where Ethereum plays a significant role. 💎Towards the end of 2021, ETH/BTC encountered resistance at 0.08511 and has since been undergoing correction. Upon plotting the Fibonacci retracement, we observed a bounce at the 0.382 level, signaling a possible continuation. However, failure to breach the previous high suggests dwindling buyer strength, potentially leading to downward pressure if sellers enter the market. 🔒Simultaneously, we notice a trendline resistance restraining the price, indicating that price has yet to gather enough momentum to break above it. 📊Examining volume since mid-2023, it appears to be in a range-bound state. However, short-term analysis shows decreasing red candle volume as we approach support at 0.05061. We need to observe if a break of this support correlates with a significant increase in volume. 💥RSI oscillator is currently hovering around support at 39.87. A candle closing below both price and RSI support levels could signal the beginning of a new downward trend. ❌Finally, it's essential to note that the current support level we are testing is critical for the vitality of this chart. If breached, Ethereum may underperform Bitcoin, especially during corrections. Therefore, it's unlikely that the Ethereum community, particularly heavy ETH holders, would allow this support to falter easily.
Long
by itsparham96
GBPJPY → Correction on the background of a bullish trend FX:GBPJPY forms a false break of trend resistance, after which the market enters the correction phase. The technical event coincides with the fundamental one - the Central Bank starts to regulate the currency policy of Japan more strictly. Even against the background of rising interest rates in Japan, traders are still bearish. The currency pair as a whole is declining on the background of the pound sterling falling while the dollar is growing, but the Japanese Yen is standing still, but the candlestick setup on D1 hints at the soon beginning of the fall, which can strengthen the currency pair. A retest of the trend support or one of the strong levels before further growth is possible. Resistance levels: 190.5, 191.32 Support levels: 189.69, 188.82 Technically, the bullish trend may continue after the correction ends. The area of 189.7 - 188.82 may again have a bullish influence on the currency pair. Regards R. Linda!
Long
by RLinda
4
$AFRM: 🚨 Road to $55 🚀Hi everyone, Affirm Holdings ( NASDAQ:AFRM ) seems to be capitalizing on their consumers' repayment abilities, showing promising technical signals. Currently, the hourly and daily indicators are tightening, hinting at potential explosion in either direction (Upside likely). Should the price surpass the daily and monthly resistance levels, accompanied by the hourly or daily indicators crossing above the monthly, we could see a surge towards $55, with the weekly indicators serving as a potential support level. Good luck!
NASDAQ:AFRMLong
by SierrasTrades
DOT/USDT 1DInterval Chart ReviewHello everyone, let's look at the 1D DOT to USDT chart as we 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 include: T1 = $9.67 T2 = $10.53 T3 = $11.89 AND T4 = $12.86 Now let's move on to the stop-loss in case of further market declines: SL1 = $8.22 SL2 = $7.23 AND SL3 = $5.97 Looking at the RSI indicator, you can see a movement below the downtrend line, but it is worth noting that it is at support. However, the STOCH indicator shows a movement at the lower limit, below the downward trend line, which may result in maintaining the price.
by cryptodailyuk
BTC/USDT 4HInterval CHart ReviewHello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As we can see, the price is struggling on the border of the uptrend line. Let's start by determining the support line and as you can see, the first support in the near future is $63,722, if the support is broken, the next support is $58,762, and then you can see strong support around the level of $50,603. Looking the other way, you can see how the price bounced off the resistance at $71,358, another significant resistance should appear from the last ATH to around $76,000, and then the third resistance is at $82,387. Looking at the RSI indicator, we can see that we are moving below the downward trend line and are currently bouncing off the support point, while the STOCH indicator still shows room for a potential downward move.
by cryptodailyuk
GOLD → The market's buying back the fall. Next up, 2300?FX:XAUUSD is still very strong. The price does not react to the news properly, only as a short-term reaction. The market is quickly buying back the decline and testing resistance. Buying potential is quite strong, the probable area of the first stop could be the zone 2300-2325. On H1, an intermediate sideways range is formed after a false breakdown of channel resistance. The price defines the lower boundary as 2228 without reaching the strong support at 2222, which indicates that the bulls are very much keeping the price away from risk zones. A retest of the resistance is formed and there is a high chance to see a false breakout or a bounce followed by a correction, which may become a consolidation phase before further growth. Resistance levels: 2265 Support levels: 2228 High interest to the metal from investors, central banks favorably affect the strengthening of the metal, besides the role of hedge asset is now more than ever manifested in the market. Gold will try to break the resistance for further growth, as there is no hint of a change in the global trend COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
FX:XAUUSDLong
by RLinda
3
ETH/USDTHello everyone, let's look at the 1H ETH to USDT chart as we can see that the price is moving below the local uptrend line. Let's start by setting goals for the near future that we can include: T1 = $3,454 T2 = $3,603 T3 = $3,710 AND T4 = $3,845 Now let's move on to the stop loss in case of further market declines: SL1 = $3,189 SL2 = $3061 AND SL3 = $2,884 Looking at the RSI indicator, you can see how we remain low below the downward trend line, while the Stoch indicator approached its trend line, which may trigger a rebound again, it is worth watching whether the downward trend will be broken.
by cryptodailyuk
BTC/USDT 4HInterval Chart ReviewHello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price came out of the local upward trend line. Let's start by determining the support line and as you can see, the first support in the near future is $64,988, when the price comes out the bottom, the next one is at $63,198 and then at $60,780. Looking further, we can see two important support zones from $59,393 to $57,736 and the other from $55,543 to $53,976. Looking the other way, you can see resistance at the level of $68,928 and another one at $71,390, then the resistance zone from $73,225 to $75,642 is important, where the recently formed price peak is located, only when the price leaves it the top can move towards the resistance at level of $82,402. Looking at the RSI indicator, you can see the moment of breaking from the support line, while the STOCH indicator can be seen falling below the lower limit, which confirms the current decline.
by cryptodailyuk
TESLA Macro ABC Potential $70Looking at a daily chart for Tesla we can see what has the potential for being a ABC correction wave from its drop last year. While the current trend is still bullish a lower high or a brake of the last high, grabbing the liquidity above, with a wick back below would be a clear indication that a pull back to the main trend is possibly on it's way. The previous all time high has a clear swing failure pattern by braking above its previous high dropping back below it and then retesting the same level with a rejection. IF price manages to make its way back to the main trend it will have an opportunity to redeem it's self but a brake of the main trend would be another clear indication of more potential down side. For down side targets the next support level below the current low is also corresponding with a previous fair value gap and the golden pocket retrace level of 50-61.8%. This evaluation has nothing to do with the viability of TESLA or its future but is rather a expression of the liquidity cycle; based on the value of and availability of the currencies used to purchase these assets.
NASDAQ:TSLAShort
by Degen-Dynasty
3
🔥 FTM Fibonacci + RSI Bounce SignalWith BTC selling off, alts are naturally following suit. However, I think that it's more likely than not that alts will bounce soon. As for FTM, this token is currently around 30% down from the top after a massive run-up. The 4H RSI is oversold for the first time since the huge run-up started in January. Furthermore, the price is currently sitting at the 0.382 Fibonacci retracement, which often functions as a strong support during up trends. Target at the current local top of 1.20$.
Long
by FieryTrading
4
GOLD → A false break of $2265 will lead to a retest of support FX:XAUUSD has been reaching 2265 since the open. The price is moving out of the ascending price channel, which indicates a strong bull market. But, there is a huge imbalance area forming below, which can be liquidated before further growth. The dollar is also strengthening and the market is waiting for bullish news on the index today. In this case it may give a small correction wave for the gold market. Moreover, there is a huge area of imbalance at 2265-2222, in which case it would be logical to expect a retest of the previously broken channel resistance or even key support before a further rise. Resistance levels: 2265 Support levels: channel resistance 2245, 2222 Technically, we can expect a correction after the rally. The trend may continue from these support zones. Regards R. Linda!
FX:XAUUSD
by RLinda
8
EURUSD → The pair is ready to continue the bearish trend FX:EURUSD is not going to change the global trend yet, continuing to break support zones with the aim of further declines on the back of the dollar index growth. The dollar index is preparing to strengthen further. The price is breaking the trend, which is generally negative for the currency pair. Today the market is waiting for PMI. In general, the data is expected to be better than in the previous period, but it is worth paying attention to the actual data in relation to the expected data. Technically, price consolidation below 1.07958 will form a bearish potential and further momentum towards 1.0700. Resistance levels: 1.08597 Support levels: 1.07958, 1.0703 The currency pair is ready to continue the trend. Consolidation of the price below this level may be the beginning of the impulse. Regards R. Linda!
Short
by RLinda
2
AAPL: Time for PutsFirstly I'm a huge NASDAQ:AAPL fan when it comes to their products, however, I believe the time has come to buy some Put Options. Trend Analysis Utilizing the 1D chart, I found a double-top "M" pattern and at the time of this idea we are currently sitting a little under the second peak. The descent can be steep according to a macro-Fibonacci tool where the $125 share price rests around a 50% retracement level. Support at this level has been strong since May 2021. I used two micro-Fibonacci tools to identify areas of minor support during the descent. I believe the use of both is necessary as some traders will be using the uptrend retracement (green) and others will use the downtrend retracement (red). I believe that there is a good possibility for reversal at the 61.8% downtrend Fib retracement as this level has been a key area of support and resistance since August 2021; see image below. It goes without saying that by the time the share price reaches this level, the double top pattern will already be considered valid so it's my opinion that a catalyst in the form of bad news will be required to see further declines. Fundamental Analysis According to the Q3 Earnings Call (Annual Report), Apple has only utilized 17.67% of its $90 billion dollar share repurchase program authorized in May '23. According to a later footnote, Apple repurchased $76.6 billion of its shares during 2023 which leads me to believe there is either a mistake in the report or that most of the $76.6 billion satisfies an earlier repurchase program. On the 10K form, see bottom of page 18 - note 1 and bottom of page 20. Cash on-hand has increased by 27% since September 2022. Current ratio (current assets/current liabilities) is 0.99 which is concerning from a financial standpoint. However, this is an improvement from September 2022 when its current ratio was 0.88. Retained earnings, while still in a deficit, has improved by 93% since September 2022. These deficits were self-inflicted as Apple spent most of its net income on stock repurchases the last three years. Sentiments I didn't find anything that changed my opinion on the current market trend for Apple. While the company does appear to be improving it is still in a rough spot. The aggressive repurchasing of its own stock and placing itself into a deficit doesn't make sense to me as a long-term plan. I understand that companies will do this to raise their EPS and benefit their shareholders but it also says that the company doesn't plan on expanding in the foreseeable future.
NASDAQ:AAPLShort
by Shepherd_Investor
1
PIXEL/USDT 4HInterval Potential LONGPixel is one of the stocks that have already responded correctly to the bullish analysis and once again presents a UP pattern. At the moment, I have marked the demand zones as yellow CII and CII. An additional advantage is that both zones result from different impulse correction structures and yet they converge in a similar space for a price around USD 0.65-0.75. At the same time, falling below USD 0.60 would negate both growth scenarios. Moreover, the maintenance of the BTC upward trend and the duration of the entire altseason strengthen the analysis.
Long
by cryptodailyuk
LTC/USDT 8HInterval Chart ReviewHello everyone, let's look at the LTC to USDT chart taking into account the 8H time frame. As we can see, the price is moving above the local upward trend line. Going further, you can see the price fighting in a strong resistance zone from $102.33 to $115.12, when we break out of this zone, we can see an increase to the resistance level of $131.40. Looking the other way, you can see the first support at the level of $91.29, the next strong support is at the level of 77.73, and then it is worth defining the zone from $68.23 to $56, which previously held the price. Looking at the RSI indicator, we see that it is moving towards the upper limit, with room to make another upward move, but at this point it is worth being cautious before a potential rebound. However, the STOCH indicator bounces from the upper limit and subsequent raises result in a higher price movement.
by cryptodailyuk
GOLD → Previously untouched terrain. Correction or growth?FX:XAUUSD is a pioneer. The price is testing new highs in a new, previously untouched zone. High interest in the metal, rumors and crisis leads to the fact that the growth of gold outpaces the growth of the dollar. Dollar Index (D1) Breakout of resistance and news The dollar is also rising. The price of the index has been supported by regulators for an extended period of time. The price is moving into a new range. What is interesting is that against the background of USD appreciation, gold is also rising in price. But this has its own reasons: the expectation of a rate cut, according to Powell, 3 rate cuts are expected in 2024. High interest to gold as a hedge asset, as well as the huge buyout of metal by central banks, which only fuels the price to strengthen. Gold (H1). Key levels and technical situation Technically, gold is at its highs. On D1 the price is testing the exit from the existing price channel. The closing of the session on Friday indicates that the market will try to move higher. The only thing that confuses me is the price going outside the global channel on the background of distribution, the metal, from the technical point of view, has no potential to overcome this boundary from the first time. A pullback or consolidation is possible. It is worth paying attention to two price levels: 2235 and 2222. A breakthrough of the upper boundary with the subsequent consolidation of the price above this level will continue the growth. The expected target in this case could be 2250. A break of the lower level may activate the liquidation of buyers, which will form a correction to 2212, 2200 Regards R. Linda!
FX:XAUUSD
by RLinda
5
BTC - ready to reach 85k BTC will hit 85k in april according to my TA and calculations. this analysis is on 12h time frame and shows an important data. 🔸btc moving in an ascending channel as shown ... and it's 4 days move nearly and above 0.618 fib level 🔸the lower side of the channel , POC line and 0.618 fib level all gatherd in the green box shown in the chart making a confluence zone . 🔸elliot wave impulse as shown not completed yet. 🔸 only 21 days for btc halving Thank you, and for more ideas, hit "Like" and "Follow"!🎯 This analysis is not a trade setup; there is no stop-loss, entry point, profit target, stoplose. I share my trades privately.
Long
by ceciliones
14
Gold could make 1948 as its peak. Buy in the dip!Hi, everyone! Long time no see.. as i expected there's no severe recession ahead until 2026, just a few banks and tech startup companies collapsed but not causing a crazy global economic fraud like in 2008... this time is much more like 1999-2003 dotcom bubble, yes economic activity might be a little bit struggling, but not as insane as 1929 or 2008 I think gold could make its third top (2072) or double top (1948) before its going down to 1000s. According to my Gann Angle and Gann Level - Fibonacci Combo, at least gold will reach 1948 in just a few days. Best advice i could give to you was BUY IN THE DIP! Gold still pretty strong because it is still running at average of 2x1 angle or 200pips/daily bar. Trend changes will only occur when it reaches horizontal SnR (fibo was the most accurate, so far..) and 1x1 angle or 100pips/daily bar (the yellow diagonal line) I did a color coding on the gann angle to make a fast recognition, strong angle as light green to dark green -- mid level as yellow -- weak level as light red to dark red Also on the fib/gann level combo, i color coded 61.8 and 38.2 with yellow as an important level that mostly cause a reversal So, lets break it down.. 17/21 March 2023 (Most Important) - I expect the first 1948 top will happen at this day before the news release 22 March 2023 (Most Important) - A 5 days down after the fed's hiking their dollar interest rates, i expect a bearish bias bottoming at 1893 or 1909 or 1917. But sometimes people getting greedy and this could inverted. 27 March 2023 (Important) - I expect Gold has reach 1948.2 level -- but since its weekly stochastic didn't crossover yet, i expect a continuation with a slight reaccumulation at around that area. But because fed rate hikes, i don't know what's gonna happen next 28 March 2023 - Some 2 days of bullish continuation That's my current expectation for future weeks ahead, i don't give any responsibility in terms of capital loss or etc cuz i could be wrong Trade safety, and Cheers! H. Haidar
OANDA:XAUUSDLong
by Chartwatcher1996
BTC/USDT 8H Chart ReviewHello everyone, let's look at the 8H BTC to USDT chart, as we can see, the price has emerged from the triangle at the top and is currently moving along the established upward trend line. Let's start by setting goals for the near future that we can include: T1 = $71,112 T2 = $73,880 AND T3 = $77,415 Now let's move on to the stop-loss in case of further market declines: SL1 = $69085 SL2 = $67,523 SL3 = $64,892 AND SL4 = $63,056 Looking at the RSI indicator, it seems that the local upward trend has been broken, which indicates a transition to a downward trend, while on the STOCH indicator we are in recovery, but here a slight price movement brought the indicator to the middle of the range, which may later translate into a greater price rebound.
by cryptodailyuk
Alikze »» RVN | Dynamic trigger failureIn the daily and weekly time, after a complex correction in the range of 0.01343 after the bottoming, it has started a motivational wave, which has already penetrated above it after breaking the sub-swing and the resistance range. 🔰 This wave can touch the specified targets after stabilizing above the green box. 🔰 This moving wave of wave 3 is smaller than the 3 waves, after which I expect this wave to touch the first red box. ⚠️ If it penetrates and stabilizes under the green box, this scenario will be invalidated. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze