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Fibonacci Retracement

📈 Bitcoin Analysis: Market Decision-Making Point 🧐🔍Bitcoin is at a critical juncture that could signify either the start of a new upward trend or a rejection at resistance levels. As the most popular coin in the market, Bitcoin needs no introduction. Even a single day of activity in the market would make one familiar with Bitcoin and its significance. 🧩Let's dive into the analysis and explore the potential scenarios. We will analyze the 4-hour time frame, focusing on futures trading. 📚Bitcoin is currently within a large range box between $73,300 and $60,976. Recently, there was a false breakout below this range, but buyers regained control, pushing the price back into the box. This indicates strong buying pressure, as sellers failed to maintain lower prices despite initial bearish momentum. Recently, buyers broke through the $64,637 resistance and are now facing a stronger resistance at $66,828. 🎲Despite approaching this resistance, the market shows signs of trend weakness, as indicated by the red candles and decreasing bullish momentum. After reaching the 0.382 Fibonacci retracement level, coinciding with a pullback to $64,637, the price rebounded, yet the green candles lack the volume to sustain a strong bullish trend. 🔫Rejection from $66,828: If the price gets rejected at this level, we could see another pullback to the 0.382 retracement level and potentially a deeper correction to the 0.618 level, a significant Fibonacci retracement level that has previously acted as support. Curved Ascending Trendline: Although an ascending trendline is present, it’s less reliable due to its formation within a range and having only two touches. Nonetheless, it will be monitored for reactions. 🪄With the current momentum favoring buyers, a breakout above $66,828 would be an entry signal for long positions, aiming for a target of $73,305. However, since we are in a low wave cycle (LWC) with a ranging high wave cycle (HWC), quick profit-taking is advisable. The best-case scenario would be to risk-free positions at a 2:1 or 3:1 risk-reward ratio, hoping the HWC also turns bullish.The primary long trigger is at $73,305. Breaking this level could introduce new bullish momentum and potentially mark the start of a bull run. 📉 If the SMA25 reaches the candles and the price continues to range, a break below $64,637 could be an opportunity for a high-risk short position with quick profit-taking. The significant short trigger is at $60,976, breaking which could start a new bearish trend, delaying the bull run by several months. 📊Always monitor volume as no trend can sustain with volume divergence. The best and most extended trends are those with increasing volume during trend phases and decreasing volume during corrections. 📝Bitcoin is currently at a crucial decision point. The market's next move will likely define the short-term trend, either confirming bullish momentum with a breakout or indicating a potential reversal. Proper risk management and attention to volume trends are crucial for successful trading. I hope this analysis provides valuable insights for your trading decisions. 🧠💼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.
by itsparham96
XLMUSD: Sitting Just Below The All-Time 0.886 RetraceXLM is trading just below the all-time Linear-Scale 0.886 Fibonacci Retrace after Bullishly breaking out of a Falling Wedge in what seems to be a part of a much bigger Cup with Handle pattern that can be seen in the Log Scale chart. If the Full Logarithmic Target is reached we will see XLM make a move towards $23.35 in the near future which aligns with both the measured move of the Cup with Handle and the 1.618-1.902 Fibonacci Extension Zone.
COINBASE:XLMUSDLong
by RizeSenpai
2
LCID's vwap bounced after pullback LONGLCID trended up 40% from late June and then over 2-3 days completed a standard Fib 0.5 retracement before bouncing off a longterm anchored mean VWAP and reversing. The reversal is supported by the two time frame RSI indicator showing the lower TF RSI crossing above the higher TF RSI and both of them approaching the 50 level. The zero lag MACD shows the lines crossed under the histogram and are now approaching the horizontal zero line. The relative rigor indicator shows a line cross while the values were negative and now approach to the horizontal zero line in parallel. Overall I conclude that LCID is set up for a long entry.
NASDAQ:LCIDLong
by AwesomeAvani
AUDCAD | Short H4 | Market Exec | Similar to NZDCADTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 timeframe - Price action is at a Supply Zone and has another Consolidation Zone nearby it - Price action is at the top of a channel resistance - Targeting the 50% Fibo retracement Fundamental Confluences for Trade: - Same setup as the NZDCAD trade I just posted as well - AUD has a RBA event risk if this trade is taken Suggested Trade: Entry @ Area of Interest 0.9030 - 0.9060 SL @ 0.9093 TP 1 @ 0.8983 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.8921 Risk-to-Reward @ Approx. 2.14 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
2
Alikze → ETC | Completing wave B correctiveIn time D1, with an ascent in the form of three waves, it is out of density with several spike candles. According to the type of behavior and structure, if the current correction moves in the form of three waves, two scenarios can be considered for it. The first scenario: the upward corrective movement will continue to the $28 area and then to the $25 area as a higher correction and will not touch the previous floor, which, if supported, will have the ability to grow to the specified area of the supply zone. Second scenario: the correction to $28 continues and then the C wave correction should break the $25 area and at least the bottom of the spike candle will continue. 🟩Sup:25$ ----------------- 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.❤️
by alikze
5
GBPJPY Strong Reversal & GBPUSD UpdateThe Japanese Yen(D) is going through the B to C leg of its correction, which we saw in the yen pairs in the last 24 hours. The GBP/JPY is our pick for a long trade because it has a more technical-bullish outlook than most other yen pairs. More info in the video. GBP/USD The cable broke higher yesterday above 1.2634 , the limit for any downtrend continuation. The violation of this point invalidated the expected downtrend continuation trade. We must wait for the price to conclude the current rally before we can act on a new position in the cable.
Long
by Charts247TradingAcademy
3
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
BNB 4HInterval Chart ReviewHello everyone, let's look at the 4H BNB to USDT chart, in this situation we can see how the price is moving in a sideways trend channel, staying below the local downtrend line. Let's start by setting goals for the near future that we can include: T1 = USD 579.2 at which the price struggles T2 = $605.9 T3 = $623.6 AND T4 = $648.3 Now let's move on to the stop-loss in case of further market declines: SL1 = $570.1 SL2 = $539.4 SL3 = $518.2 AND SL4 = $491.50
by cryptodailyuk
Bitcoin - Ultimate bottom will be here, but now 13% crash!The price action of Bitcoin is relatively boring on the higher time frames, why is that? The answer to this question may be that summer is almost here, and statistically, Bitcoin has been going sideways pretty much every summer. Usually, the fun begins in August/September, when the volatility comes into the market.  What can we expect from Bitcoin in the following weeks? I am expecting a 13% crash because we need to hit the major red trendline on the daily chart. This trendline should hold the price of Bitcoin to the end of the bull market, so you want to buy every touch of it! We also have a 200-daily moving average that is currently pretty much at the same price as the mentioned trendline. The 200-MA is considered a strong dynamic support or resistance from huge institutions and hedge funds, so you definitely want to keep an eye on it.  The price of Bitcoin is inside the bullish flag pattern, as you can see on the chart. This is a pretty strong confluence with the trendline to buy cheaper Bitcoin. Right now, I am bearish and expecting lower prices in the next few days and weeks. The bulls still need to show more strength before I can turn bullish. The best option seems to be to be patient and buy at the touch of the major red trendline! You can also place a high-leverage trade here if you trade futures. 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.
Short
by Xanrox
29
EUR/USD Update: Short Position Addition OpportunityDescription: Looking to add to my short position on EUR/USD at 1.0772 with a take profit target set at 1.0664. This trade aligns with my bearish outlook on the pair, with the TP level strategically placed just below the monthly open. Stop loss set at 1.0801. Trade Details: Entry: Short at 1.0772 Take Profit: 1.0664 Stop Loss: 1.0801 Analysis: The EUR/USD pair has been exhibiting weakness in recent sessions, with bearish momentum potentially continuing. Fundamental factors such as economic data releases and geopolitical tensions are contributing to the downside pressure on the Euro. Additionally, technical analysis suggests that the pair is facing resistance at key levels, further supporting the bearish bias. Moreover, I anticipate the European Central Bank (ECB) to cut interest rates in their June meeting to stimulate the Eurozone economy, while the United States Federal Reserve might adopt a more hawkish stance later in the year, possibly considering interest rate hikes in response to strong economic indicators and inflationary pressures.
Short
by mackmackeyy
GOLD → How can the price react to the NEWS on inflation?FX:XAUUSD earlier returned to the range after a false breakdown of resistance. The market is now fading as it is in the waiting phase for Powell's speech as well as the rest of the inflation news. Traders are waiting for PPI ( ECONOMICS:USPPIMM ) today as well as tomorrow's CPI ( ECONOMICS:USIRYY ) . Earlier, the market discussed the interest rate cut as well as inflation, which continues to remain at a rather high level, which does not please the Fed. Traders are expecting inflation to drop from 3.5 to 3.4. This is possible, but it is still very high relative to what Powell, who will also speak today, is expecting. Gold may react strongly to the news as economic factors are unpredictable. It will be necessary to follow the actual data and not to trade before the news. Resistance levels: 2352, 2363, 2378 Support levels: 2328, 2306, 2295 Fundamentally it is still very bad, inflation is high, rate cuts are not expected, in general this scenario lays further strengthening of the dollar. In such a case, gold may continue to correct to the lows. Regards R. Linda!
FX:XAUUSDShort
by RLinda
13
EURUSD → Retest of downtrend resistance amid weak $FX:EURUSD is heading towards trend resistance with interest. This is also supported by the weak dollar, which is standing still. But, the currency pair is still in a bearish trend Buyers are trying to strengthen the euro. On D1 a consolidation format of movement is formed. In this case, the pair may test the trend resistance, but it will be difficult to break it the first time, because the dollar will continue to rise in price for some time due to the actions of regulators, which will affect the euro. Resistance levels: 1.0802, 1.0864 Support levels: 1.0736, 1.0703 At the moment there is a probability of a retest of the resistance area, but the bears can give strong resistance to the buyers' interests, which in general can be reflected as a pullback from the upper boundary of the trend. Regards R. Linda!
Short
by RLinda
9
📈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
GOLD → Price moves back into range. Waiting for a test of 2328FX:XAUUSD returns to the range after a false breakdown of the liquidity zone. A strong sell-off phase is forming and price is heading towards a key support and liquidity area. On local timeframes, reversal patterns cause price to test downside resistance and confirm its presence. False breakout provokes sell-offs towards 2328, this area is key for traders. The market maker is interested in a retest of the liquidity zone, relative to which a false breakout and growth towards range resistance can take place. In general, the market is still neutral-negative in the local perspective, accordingly, it is acceptable to consider both buying and selling intraday. Resistance levels: 2352, 2378 Support levels: 2328, 2306 The correction will end only after breaking through the descending resistance (area 2365-2370), but at the moment the market is still in the correction phase, which is developing within the 4 wave. Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
GOLD → The bulls are back, the market is recovering. Is it 2400?FX:XAUUSD is testing 2378. For two weeks traders fought for the 2300 area and the bulls won. Favorable fundamental background and technical prerequisites played into our hands. Earlier we discussed with you the formation of the correction and the formation of the bullish pattern "descending wedge". The breakout of the resistance of the wedge confirmed the end of the correction, after fixing the price above 2300 the market allowed us to get an impulse of almost 700 pips and test the area of 2378. At the moment the market is still bullish. The favorable fundamental and technical background, together with the fall of the dollar index continues to motivate buyers. After updating the local high of 2378, a stop and correction is formed. The price may reach 2350-2340 before continuing its way up. Resistance levels: 2378, 2400, 2417, 2431 Support levels: 2350, 2340, 2327, 2316 2350 plays an important role as it divides the chart into bullish and bearish area. A false breakout is possible, but in general we should watch the price reaction to the liquidity area. Also, the zone of 0.382 and 0.5 Fibo is important. The market is bullish and it is worth prioritizing long positions Regards R. Linda!
FX:XAUUSDLong
by RLinda
12
NZDCAD | Short H4 | Market Exec | Pure Retracement PlayTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 and H1 time-frame. D1 is also entering Overbought Conditions. - Price action is close to last month's Resistance Trendline - Price action is in a consolidation zone - Targeting the 61.8% Fibo retracement Suggested Trade: Entry @ Area of Interest 0.8210 - 0.8230 SL @ 0.8244 TP 1 @ 0.8184 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.8151 Risk-to-Reward @ Approx. 2.04 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
ATOM/USDT 4HInterval Chart ReviewI invite you to review the chart of ATOM in pair to USDT, on a four-hour interval. Let's start by identifying the upward trend channel in which the price is approaching the lower border using the blue lines. After unfolding the trend based fib extension net and using the fib retracement net, we can determine the support at the level of $8.28, then support is visible at the price of $7.91, and then we have a strong support zone from $7.72 - $7.24 $. Looking the other way, you can see the first resistance at $9.19, then significant resistance at the upper border of the channel at $9.63, the next resistance at $9.93 and the next resistance at $10.35. When we look at the RSi and STOCH indicators, we will see a move below the downtrend line, now we need to wait for the move to break above this line.
by cryptodailyuk
Will Solana stay on current support?Hello everyone, let's look at the 4H SOL to USDT chart, as we can see the price is staying in the sideways trend channel marked with blue lines. Let's start by setting goals for the near future that we can include: T1 = $145.9 was rejected T2 = strong zone that effectively reverses the price from $153-$163 AND T3 = $189 Now let's move on to the stop loss in case of further market declines: SL1 = $143.4 SL2 = $133.56 SL3 = $126.48 AND SL4 = $117.53 Looking at the RSI indicator, you can see that we are moving around the middle of the range, which gives a possible move in both directions, but the STOCH indicator is moving at the lower border, which should result in an upward price rebound if the price stays at the current support.
by cryptodailyuk
1
LINK/USDT 4H ChartHello everyone, let's take a look at the LINK to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line. Let's start by determining support and, as you can see, first we have a support zone from $13.77 to $12.90, then we have visible support at $12.34 and then the third support at $11.55. Now let's move on to the resistance lines, as you can see the first resistance is at $13.98, if you manage to break it, the next resistance will be at $15.02, $15.71 and the fourth resistance at $16.67. The RSI indicator and the STOCH indicator are approaching the lower limit, which may slow down the current correction, which will keep the price in the support zone.
by cryptodailyuk