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Fibonacci Retracement

BTCUSD retraced its trend down of mid January LONGBitcoin has retraced the trend down from the January 11 pivot high. The retracement is 0.5 Fib level. The zero-lag MACD and dual TF RSI both show bullish momentum. I believe BTCUSD may consolidate here and then at least by the Luxalgo Echo indicator bullish continuation will restart. I see a good entry at 43800 with a stop loss below the 0.5 Fib level at 43250 which would be about 1.25% My target at the second upper VWAP band line is 47800 or about 8% upside. This is confluent with the 0.618 Fib extension. The reward to risk would be 4000 / 550 or about 7.
BITSTAMP:BTCUSDLong
by AwesomeAvani
2
ETHUSD LONG Sitting on Demand Zone Fib TargetsOn this 15 minute chart from the candlesticks, supply and demand zones are tool drawn. The resistance trendline and flat bottom form a triangle pattern. The Fibonnaci retracement tool is used to find likely targets which are also pivots to the left. The dual TF RSI indicator by Chris Moody shows both the faster 5 min and the slower 60 min rising over the 50 level with the faster higher than the slower. The times straddle the chart time. Based on all of this I will trade a swing trade long on forex with leverage set at 20. Partials taken 25% at each target to minimize risk. Stop loss initially 40 ( the height of the green demand zone) then raised by 22 every time price moves by 20. Expecting 60% profit overall in consideration of a tiered closure and the leverage for a trade of 10-20 days depending on the trend angle moving forward.
BITSTAMP:ETHUSDLong
by AwesomeAvani
1
Is there any upside potential for the main 2023 leader? NVDA demonstrated astonishing move for market-type stock, gaining more than +230% since Jan 2023. Is there any upside left in the mid-term? My analysis of the price structure suggest there at least on possibility for that in the mid-term, although... ... on Daily time-scale until price stays below 479 and Aug highs , I cannot rule out one more, potentially sharp and scary, move down to important mid-term support zone: 371-307 as per green count on the chart. Under this scenario, the price needs to find support in this area and start building the bottom and the right side of the base/cup. Alternatively, if price manages to consolidate above Sep low and create pivot around recent 476 highs, I would be eager to consider going long with price breaking above 479 with volume support. Trading thesis: until price respects 479 short-term resistance area, I would lean towards the short side, with any consecutive lower-low being a shorting opportunity (orange circle on a chart above as a potential example) with stops above recent high. Although mid-term analysis shows potential for at least one more leg up, in the short term we are in no mans land, with both sides (long/short) having technical arguments to support itself. I would wait for the dust to settle and high quality, low risk set-up to emerge before taking any decisive stance.
NASDAQ:NVDA
by artemfedorov
3
Alikze → HBAR| Swing failureIn time W1, D1 is breaking after 649 days with the construction of three valleys, finally the supply area created by a candle. Therefore, with this failure, in the event of a pullback to the specified area, which is the range of 0.098, it will have the ability to grow to the next supply area. 🟩Sup: 0.098 ⛳️Tp 1:0.1580 - 0.1710 ⛳️ Tp2 : 0.2200 - 0.2440 ----------------- 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
KODK Kodiak long trade from a retracement( Industrial Penny)KODK is the old chemical industrial company that focused on camera film and printing for decades now a bit or diversified in what it does. Share price is a fraction of what it once was. KODK had a news catalyst that it was trying to clean up financial issues with its pension plan which had $ 6 Billion in assets. That may be a good thing but investors through otherwise and price put in a 20% retracement over a few days. I expect this to rebound and earnings are about ten days away. The P/E ratio is about 10. While this is a risky penny stock, I see the potential in a recovery of the 20% of market cap in the pre-earnings period. Accordingly, I will take a long trade of stock shares and a put option to hedge those shares against a downturn.
NYSE:KODKLong
by AwesomeAvani
$GME: 🚨 $21 next target 🎯Hello everyone, Hope everyone is excited as I am for this next move up. If NYSE:GME is able to break above $15.81 and hold it there with a 4hr or daily close, then price should move up towards $21. Conversely, if NYSE:GME fails to break above and hold above those levels, then NYSE:GME will fall down to the $12.40 area with a hopeful bounce at $13.50. Overall, I'm still bullish on NYSE:GME because the indicators suggest it is still in a bullish configuration. Since my last post where I forecasted a pop to $15.76, NYSE:GME may retest $15.05 before bulls take over and break above $15.81 to make the move to $21. Good luck, everyone! As always, not financial or sexual advice. 🚀 I will try my best to update this post once we see some action on either side.
NYSE:GMELong
by SierrasTrades
4
GOLD → NFP. $2200 or $2100? What could happen?FX:XAUUSD is in the bull run phase. The price growth is fueled not only by the breakout of consolidation, bullish trend, but also by the huge interest on the background of negative geopolitics, high inflation, but also by the fundamentally weakening dollar. The price is forming strong consolidations with subsequent growth without correction phases, which tells us that there is either a strong buyer or no seller, which is more likely. For the market, psychological levels may be the targets. Such as 2175, 2200. The scenario with a false breakdown of the past ATH failed due to fundamental factors. So at the moment we need to consider a test of the above mentioned important levels. There is news ahead which is important but at the same time unpredictable. Be careful. Price entry into the risk zones will trigger a strong sell-off phase. Resistance levels: 2175, 2185, 2200. Support levels: 2161, 2145, 2100 It is hard to expect anything amid strong growth and approaching NFP. The market may be very aggressive and give high volatility and volume. Within this framework, the price can quite confidently test both 2200 and 2100 (buyer liquidation phase) TVC:DXY CAPITALCOM:GOLD NCDEX:GOLD COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
FX:XAUUSD
by RLinda
8
Will the launchpad on Binance increase the BNB price more?Hello everyone, let's take a look at the BNB to USDT chart taking into account the time frame of one day. As we can see, the price came out on top, from the main downward trend. Currently, we can see how the price is struggling with strong resistance at the golden point of 0.618fib, but further it is worth defining a very important resistance zone from $565 to $668. ONLY when the price breaks above this zone and tests it positively, we will be able to see a move towards $965. In a situation when the resistance level cuts off the current increase, which is strongly supported by the launchpad, and the price starts to reverse, there is significant support at $373, then a strong level is $300, and then around $248. On the RSI indicator we can see that a support line has formed, but there is still plenty of room for recovery, while on the STOCH indicator we are again above the upper limit, which may also lead to a price correction.
by cryptodailyuk
BTC Sets new ATH, correction possibleHello everyone, let's look at the 1H BTC to USDT chart, as you can see we had a strong breakout from the triangle, which gave a new ATH level for BTC. When the resistance level from the previous ATH was broken and the price established a new ATH at $70,360, if this level was maintained and the resistance was positively tested, it could give an upward impulse to around $75,686. When a larger recovery begins, we have three significant support levels, the first one is at $66,036, then the second one is visible at $63,369, and then the very important level is $59,098. If we look at the RSI and STOCH indicators, there is still room for a possible continuation of the recovery.
Short
by cryptodailyuk
Bitcoin's Next Halving - A Technical Analysis PerspectiveAs we approach the much-anticipated Bitcoin halving scheduled for April 19, 2024, it's essential for traders and investors to assess the potential price movements based on technical analysis. In this analysis, Bitcoin reached its previous all-time high (ATH) of November 8, 2021, while considering the formation of a Cup & Handle pattern and a retracement to the Fibonacci 0.618 level before the halving event. Previous ATH Resistance: Bitcoin's journey to its previous ATH on November 8, 2021, marked a significant milestone. The price action during this period resulted in a strong resistance level that traders should closely monitor. Psychological factors may come into play as Bitcoin attempts to breach this resistance, potentially leading to increased volatility. Cup & Handle Formation: A Cup & Handle pattern is a bullish continuation pattern often seen as a signal of a potential upward trend. In the context of Bitcoin's price chart leading up to the next halving, the market may exhibit a Cup & Handle formation. Traders should be vigilant for the cup formation, followed by a brief consolidation forming the handle. The breakout from the handle could signal a strong bullish momentum. Fibonacci Retracement to 0.618 Level: Technical analysts commonly use Fibonacci retracement levels to identify potential support or resistance zones. In this scenario, a retracement to the 0.618 Fibonacci level, approximately around the $50,000 mark or potentially lower, could serve as a critical support level. This retracement could provide a buying opportunity for traders looking to enter the market before the halving event. Halving Impact: Historically, Bitcoin halving events have been associated with significant price movements. The reduction in block rewards tends to create scarcity, potentially driving up demand and prices. As we approach the April 19, 2024, halving, it's crucial to factor in this fundamental aspect when making trading decisions. Conclusion: In summary, the technical analysis suggests a potential scenario where Bitcoin retraces to the Fibonacci 0.618 level, forming a Cup & Handle pattern before the April 19, 2024, halving. Traders should remain vigilant at the previous ATH resistance level and be prepared for increased volatility. The halving event itself may act as a catalyst for a bullish trend, but market participants should carefully monitor key technical levels and consider risk management strategies in their trading decisions. As always, it's essential to adapt to changing market conditions and reassess the analysis based on real-time price action. Note: Not Financial Advice
CRYPTO:BTCUSD
by sailortrades
KAVAUSDT → Readiness to move into the distribution phase BINANCE:KAVAUSDT breaks the triangle resistance, which provokes the formation of a strong impulse. But now the price meets the flat resistance at 0.954. On W1, the coin is starting to come to life, but is still very far away from the overall altcoin market. Trading volumes are growing when the resistance is broken, which indicates that the market is ready to realize the accumulated potential. On D1 we are interested in the level of 0.954. A correction is possible, but we need to wait for a breakthrough and price consolidation above this area, which will be a confirmation of the market's readiness to go higher. Support levels: 0.865, 0.694 Resistance levels: 0.954 I expect a final exit of the price from the global downtrend and subsequent growth to 1.28 and 1.55. BINANCE:BTCUSD CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 Regards R. Linda!
Long
by RLinda
28
EURUSD → Consolidation for continued growth. What's the target?FX:EURUSD is forging consolidation within the ascending channel after the breakout of the local trend. This setup may be aimed at further growth towards range resistance. On D1 we see consolidation forming above the key support at 1.07958. A rather strange paranormal volume was drawn on Thursday, which is difficult to interpret in the current environment. The dollar index also stands still and continues to shrink to the support. A local channel is forming on H1, another retest of 1.07958 or trend support is possible, after which the currency pair may head towards the targets indicated on the chart. There is no news today, so the trading session on Monday may be calm. Support levels: 1.07958 Resistance levels: 1.08975, 1.1000 I expect the growth to continue within the emerging setup. A change in the local trend is forming within the global flat. Consolidation may form the potential for the continuation of the formation of a bullish impulse. Regards R. Linda!
Long
by RLinda
5
ETH/USDT 1HInterval ChartHello everyone, let's look at the 1H ETH to USDT chart as you can see that the price has returned above the uptrend lines. Let's start by setting goals for the near future that we can include: T1 = $3,996 and T2 = $4,161 Now let's move on to the stop-loss in case the market reverses its trend: SL1 = $3,699 SL2 = $3,554 SL3 = $3,316 Looking at the RSI indicator, you can see how the movement is approaching the support line again, which may result in another price increase, but here you should pay attention to the STOCH indicator which remains near the upper limit, which may result in the need for a price recovery.
by cryptodailyuk
1