Eclerx - Runding Bottom BreakoutEclerx has given breakout of rounding bottom
Entry - Above 2960
SL - 10%
TGT - Highlighted on chart.
FLAG
BITCOIN → WHALES accumulate, BULLS aim for 70K ↑ BINANCE:BTCUSD has been consolidating since March, for half a year. Sooner or later the asset will move into the distribution phase. After the shakeout, the price returns to the channel and enters the consolidation phase, holding above 0.5 fibo.
The shakeout spurred by panic over bad data in the US market a few weeks ago is redeemed. False breakout leads to a rise to 62K, which defines the local range, forming a strong resistance and the beginning of a local correction. Within the correction, the price is testing 0.5 Fibo and the bulls are actively holding the price above this area, indicating that they are not ready to let the price go beyond this area yet.
So, the focus is on the consolidation of 62K - 56K.
How long will the price trade in this range? As long as it wants, until MM gathers the necessary potential
But, after support retest, false breakdown and liquidity capture, MM has another target - liquidity above 68K - 69K, therefore, we have a high probability to catch strengthening to the channel resistance (69K - 70K)
Support levels: 0.5 Fibo (56K), 53500
Resistance levels: 59700, 62500, 70K
A break of the local resistance may give an impulse to 62350. Next, we need to watch the price reaction at 62500. If the price will not pullback, but will start consolidating and squeezing, then we should wait for the breakout and growth to 70K
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Sell EUR/GBP Bearish FlagThe EUR/GBP pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Flag pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 0.8428, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 0.8396
2nd Support – 0.8377
Stop-Loss: To manage risk, place a stop-loss order above 0.8440. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
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GOLD → Consolidation in a bull market. Will we reach 2550?FX:XAUUSD is moving into a consolidation phase amid a strong bullish trend as buyers are waiting for catalysts for a new upswing. Buyers are still serious, and Central Banks of major economies continue to actively buy the metal.
Fears of a wider Middle East conflict, have eased, at the same time the US Dollar paused its overnight recovery. The corresponding reaction - flat, we observe on the chart of gold.
Further price direction appears to be northward, as it remains supported by the Fed's dovish sentiment on monetary policy and looming geopolitical risks in the Middle East. In addition, hopes of improved physical gold demand from India and China are likely to limit the decline in the gold price.
Resistance levels: 2517, 2531
Support levels: 2501, 2493, 2477
Technically, since the price is in a range and tested the resistance area earlier, the MM has a liquidity target at the bottom. Consequently, gold may test support (false breakdown) before heading towards resistance again. Emphasis on the channel boundary, 2501, 2493, 2477.
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BTC - FINALLY - Bullish BREAKOUT? For the last few months, I've been preaching patience as we saw a multi-month correction play out, all as a part of the bigger-picture Elliot Wave playout.
The charts are looking positive after some bullish action started showing up from yesterday.
I'd be ready to say the corrective phase is finally over and we're starting the new impulse wave up IF Bitcoin can keep above this support level highlighted on the chart, around $63k.
This would validate a successful Flag-Breakout / Pennant breakout pattern.
However, if we close a daily UNDER this key support zone - it's likely that we're not there just yet. I'm still of the opinion we'll be on our way towards a new ATH close to December, as BTC loves Decembers historically.
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BINANCE:BTCUSDT
SOL → Accumulation in the bullish trend continues ↑BINANCE:SOLUSDT after the shakeout relative to resistance and triangle support continues to consolidate again on the background of the bullish trend.
The priority of the figure is the continuation of the current trend.
The strong fall due to fundamental reasons: the US unemployment rate, profit-taking and panic are quickly bought back, bringing the coin back into the range, which in general hints us at a strong bullish component of the market.
After a retest of 162.45 resistance, a correction is forming, 0.5 fibo may be tested, or trend support before further upside.
Emphasis on triangle resistance, a retest or pre-breakout consolidation may be formed before a breakout.
Support levels: 141.2, 136.7, 126.4
Resistance levels: 162.45, 188.32
Fundamentally, the menet has a good potential. Technically, the price is in a sideways movement, but against the background of a global bullish trend. After consolidation, a distribution is formed and our task is to understand in time when this distribution can start...
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SERVOTECH potential breakout - Strong prior uptrend/buying force.
- Consolidating in a narrow range.
- Mini coil formation above 10EMA.
- Volume contraction.
KLAYUSDT → Transition from bearish to bullish trendBINANCE:KLAYUSDT is entering the distribution phase after exiting the accumulation. The price is resting at the range boundary, but there are prerequisites indicating a possible continuation of growth
Emphasis on the key level of 0.1600. I like the accumulation formed near the level. The key aspect, to forge a further scenario with the purpose of opening entry, I expect a retest or accumulation under the level, which will mean that the coin is ready to go even higher.
On W1 the coin is still in consolidation and is not going to bottom, on D1 the price is breaking the resistance of the wedge, a pattern capable of reversing trends.
Resistance levels: 0.1600
Support levels: 0.5, 0.7 fibo, 0.1246
Technically, such a rise may be followed by a correction either to the local lows on H1 or to the Fibo zone, but a quick retest will increase the chances of a breakout and growth. But, if the bulls manage to go beyond 0.160 and form a consolidation, the growth may start much earlier.
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PEPE → Pre-break consolidation and retest of MA-200BINANCE:PEPEUSDT is consolidating after a shakeout. Bulls are emphasizing the resistance at 0.00000827. On W1, the coin is consolidating above key support, which is a good sign amid the overall bullish trend.
PEPE is trading above trend support and is not going to go down yet. A decrease in volatility is forming - “consolidation” character of the movement. After retesting the resistance, the price returns to the level for another test, which only increases the chances of a breakout of the area. Consolidation of the price above this area may affect the breakout of MA-200, which will be a confirmation of the readiness to go up. Technically, the zone of interest is 0.00001088 and “ob” in the zone 0.000013.
Resistance levels: 0.00000827
Support levels: 0.000007615
We continue to follow the price. The trend is bullish and there are no preconditions that would lead to a trend change. Technically, I expect an attempt to break the upper boundary of consolidation and further growth to the specified targets.
Regards R. Linda!
GALAXYSURF - FLAG AND POLLFlag and Poll Pattern Formation in Galaxy Surfactant
Entry - 3070
SL - 10%
Target - As highlighted in chart
GRWRHITECH potential breakout - Earnings gapup (EP)
- Strong prior uptrend.
- Tight price action.
- Volume contraction.
- Strong sector.
- High relative strength.
Gold on the Brink: Major Price Shift Expected – Will It Surge?Key Observations:
4HR Channel:
The price is operating within a larger ascending channel on the 4HR timeframe. This channel is guiding the overall bullish momentum seen in the price action.
Weekly Flag:
The upper trendline of the weekly flag intersects with the current price movement, suggesting that this is a significant resistance level. The price is showing a potential reversal as it interacts with this upper boundary.
15M Channels:
Ascending Channel at the top of the 4HR channel: This smaller ascending channel within the larger 4HR channel might suggest a short-term bullish continuation, but it's also positioned at a critical resistance level, indicating a possible exhaustion point.
Descending Channel: Indicates a corrective phase within the overall uptrend. The price broke out of this descending channel, which led to the recent upward momentum, aligning with the weekly trend.
Potential Scenarios:
Bullish Continuation:
If the price manages to break above the ascending channel at the top of the 4HR channel, it could signal a strong bullish continuation. The price may retest the upper trendline of the weekly flag before further advancing.
Bearish Reversal:
Given the significant resistance from the weekly flag’s upper trendline and the upper boundary of the 4HR channel, a rejection here could lead to a decline. This might trigger a correction back down towards the lower liquidity zones (LQZ) marked on the chart.
Considerations:
Liquidity Zones (LQZ):
The 15M LQZ around 2,485-2,477 is crucial. A break below these levels might confirm a bearish reversal, while a bounce could suggest accumulation before another upward push.
Mass Psychology:
As price approaches the upper resistance levels, watch for potential signs of exhaustion or overbought conditions, which could reflect a shift in trader sentiment, leading to a reversal.
Strategic Approach:
Risk vs. Reduced Risk Entry:
If looking to enter a trade, consider the possibility of a reduced risk entry on a corrective pullback to the lower 15M LQZ if the price respects these levels. Alternatively, if the price breaks above the ascending channel, a riskier entry might be taken on the breakout, with stops placed just below the channel's boundary.
Multi-Touch Confirmation:
Watch for a third touch or more on either the upper resistance or lower support levels to confirm a potential reversal or breakout, as per the rule of three discussed in your uploaded materials.
This setup requires careful monitoring, especially at critical support/resistance levels, to determine the next directional move with confidence.
Buy GBP/CHF Bullish PennantThe GBP/CHF pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Pennant pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 1.1195, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.1273
2nd Support – 1.1301
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
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Thank you.
GHCL potential breakout - One year big base.
- Rounding bottom pattern.
- Consolidating in tight range.
- Near base high.
- Strong prior buying force.
- Low risk entry.
- Can lead to the start of a strong uptrend as it is coming out of a big base.
NEULAND LABS potential breakout High tight FLAG formation.
Trading in a narrow range.
Low risk entry point.
Strong prior buying force.
Volume contraction.
BITCOIN → Why didn't we go above 70K? The reason for the drop...BINANCE:BTCUSD has been in consolidation for 5 months. The price makes another retest of the 70K resistance, but due to several reasons failed to pass this area. A correction inside the FLAG is forming
From 70K resistance another correction to 64K has started. The reason for this is strong bullish sentiment after the US allowed bitcoin as a reserve asset. There is also a lot of attention to BTC because of the presidential race. Accordingly, the Market Maker eliminates the positive crowd (the price always goes against the crowd). And whales start buying the asset at cheaper prices.
On Friday, the NFP report and unemployment (up 4.0% to 4.3%) influenced the price drop. Rising unemployment + rising inflation had a negative impact on the markets. It is too early to buy, we should wait for the slowdown of the movement and stronger data.
Resistance levels: MA-50, 63250, 68570
Support levels: MA-200, 59300, 56500
Technically, the price is testing MA-200 and is squeezed above MA-50. If MA-200 fails to hold the price, bitcoin may go down to the lower boundary of the FLAG before a buyer can take over the situation. BUT, if the bulls hold MA-200 as support and manage to consolidate above 63300, a rise may be waiting. Overall, the fundamental background is very positive, but local economic data has a negative impact on the markets.
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CLSEL potential breakout 5 months base.
Breakout with good volumes.
Forming a bull flag outside base.
Trading in a narrow range.
High relative strength.
Looks good for a quick 10% up move.
RKFORGE potential breakout POSITIVE POINTS:-
Strong buying Force.
Trading in a narrow range.
High relative strength.
Took support from 50EMA & now above 20EMA.
Volume contraction & institutional footprints visible.
NEGATIVE POINTS:-
Overall market condition is not favorable for breakout trading. Key indices are near 50EMA, there could be a potential break down in the coming days. No follow through moves were seen in last few days.
ETHEREUM → A train can become a rocket. Key zone 2700 - 2800 ↑The market is buying back BINANCE:ETHUSDT after a big fall due to fear. Bulls kept the price below 2000 and now they are trying to keep it above 2500. The overall bullish backdrop is still in place.....
A very promising technical situation is forming on W1. If the price returns to the global sideways range, we will have good prerequisites for a rise to 4000 - 4800.
Fundamentally, everything is the same, the general background is bullish. The liquidation (strong downward movement) and the subsequent active buyback indicates that the market is free of unnecessary traders and the train can now move in the right direction, it remains to get to the key station before departure.
The key stations are the 2717 - 2817 area. If the bulls can overcome this resistance and consolidate above, thus forming a strong support area and an intermediate bottom, then the market will have an important and promising liquidity target above 4000.
Support levels: 2518, 2425, 2400
Resistance levels: 2717, 2817
The whales continue to buy the asset after a strong fall, despite the fact that the chart looks bearish, there are key prerequisites indicating that the big players are still bullish. The focus is on the key resistance at 2717. After Friday's test and pullback, the price is back to the level, which increases the chances of a breakout.
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CHAMBALFERT potential breakout Potential trendline breakout opportunity.
Tight price action near trendline.
50days base after giving a big move of 72% in 19days.
SPECUSDT.P-Bull flag Specusdt.p Bullish Setup: Bull Flag Breakout
The SPECUSDT.P pair has formed a classic bull flag pattern, and we've just seen a breakout above the structure at 6.008. While this is a promising sign, I’m waiting for a 4-hour candle close above the flag to confirm the breakout before entering a long position.
Entry: Watching for confirmation above 6.008.
Stop-Loss (SL): Below the EMA at 5.879.
Take-Profit (TP): Targeting 6.749.
This setup offers a good risk-to-reward ratio, with a well-defined SL and TP.
Always manage your risk accordingly.
Bitcoin Cup and Handle Pattern - Last Leg BINANCE:BTCUSDT (1W CHART) Technical Analysis Update
Bitcoin has recently formed a well-defined cup and handle pattern, with the price currently in the final stage of the handle. A recent market dip, fueled by recession fears, briefly pushed Bitcoin's price below $50,000. However, it quickly rebounded and is now trading at around $59,000.
If this reversal trend continues, we could see Bitcoin's price reach the resistance level of $65,000 to $67,000, marking the top of the handle. A breakout from this resistance zone would confirm the continuation of the bull run. The upcoming weeks will be critical in determining whether the bull run will persist or if a bear market is on the horizon.
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