OCEANUSDT → A break of resistance will give a 30% increaseBINANCE:OCEANUSDT forms a bottom at 0.1208 and forms a false breakout. After formation of the formation, the price rallies and goes into consolidation in the triangle format
After retesting the triangle resistance on July 22, the price forms a small correction after which the price forms a pre-breakout consolidation near the upper boundary of the formation.
Altcoins have been showing positive dynamics lately and most likely the breakout of resistance at OCEAN will give excellent potential.
While bitcoin is forming a correction and forming a local support area, the altcoin price is updating the local high and breaking the resistance.
The price is testing MA-50 and may soon test MA-200 as resistance
Support levels: 0.3335
Resistance levels: 0.3605
I expect the final breakout of the triangle resistance with the subsequent strengthening of the price to these levels.
Regards R. Linda!
FLAT
🥇GOLD - The price is getting ready to drop. False breakout Gold is testing trend resistance again, Price is forming a strong consolidation and there is a noticeable lull in the market, most likely before the storm
TA on the high Timeframe:
1) Local support is forming at 1912, and consolidation near the level
2) There is still a potential for a decline to 1902.
TA on the low timeframe:
1) Price is forming a bounce from trend resistance after a false breakdown
2) If the price can break the support of 1912, 1910 then it will head down to 1900.
3) The trend is bearish and I expect the price to decline in priority.
Key resistance📈: 1915
Key support📉: 1912, 1910
💱EURUSD - Retest of resistance zoneEURUSD is testing flat support. There is both the possibility of forming a false breakout, but in this case the previously broken trend resistance will be confirmed, and an attempted breakout, in which case the price will head down.
TA on the high timeframe:
1) There is consolidation forming around 1.09526 and numerous retests.
2) Price is testing a strong support within the framework of correction
3) The price can both rebound and break the support.
TA on the low timeframe:
1) Flat 1.1050 - 1.09526 is formed
2) In case of a false break of the flat support, the price may go to the upper boundary.
3) If the flat support is broken, the price will return to the downtrend boundaries, in this case the price will head towards 1.08000.
Key support📉: 1.09289, 1.09526
Key resistance📈: 1.09997
GOLD → The price may form a Flat. What does that mean? OANDA:XAUUSD is in a local bearish trend. Within the current trend, the price is testing resistance. Two scenarios are possible: either a breakout or a rebound. What to expect?
The price tests the trend resistance and goes beyond it. If the price can consolidate above the level of 1914 after the channel breakout, the price may form a potential upside to 1924.8
But again, the price may form a false break of the trend resistance, in this case the price return to the channel boundaries will confirm the bearish potential, the price will head down to break 1912.7 and continue its fall to 1900.
Break of resistance and growth to 1924 may form consolidation or flat 1924.8 - 1912. If the upper boundary of the future flat is retested, we can look for sell signals
Support levels: 1912
Resistance levels: 1915, 1924.8
I expect one of the scenarios to develop, it is important for us to wait for confirmation. Most likely a flat formation may follow and in this case the price will initially head towards 1924.8.
Regards R. Linda!
GBPAUD → The start of correction within the up-trend is possibleFX:GBPAUD continues to strengthen within the framework of the uptrend. The price updates the local maximum and continues to seek trend resistance
The currency pair may make a correction against the resistance of the ascending channel. The price may reach the upper boundary of the ascending range and form a false breakout or other traps for players.
Price consolidation or a reversal setup below the ascending line can be a signal to start a correction. If a correction is formed, the market will have the potential to decline to 1.95613 and even to 1.93924
Moving averages indicate a strong bullish trend.
Support levels: 1.95613, 1.93924
Resistance levels: 1.96200, trend resistance
I expect growth up to the upper boundary of the trend with the subsequent rebound and formation of correction to the support
Regards R. Linda!
XRP - Time to buy for a 500% profit! (now)
XRP is currently retesting a major trendline from 2022, and this retest is exactly where you want to buy this coin! This trendline is also part of an ascending parallel channel on the daily chart, which strengthens the support.
What's more, we have had a strong 0.618 FIB retracement on the LOG scale. We hit this level almost to the dollar, so if you bought at this level, congratulations! I share my trades transparently and post trade setups privately.
We also need to take a look at the volume indicator. Clearly, since the downtrend finished in 2022, the bullish volume is overwhelming. That's definitely positive, and XRP could reach much higher levels in the next few weeks and months!
Now the most important question is: what is the profit target, and where do I take it? To answer this question, we need to take a look at the market caps of XRP and BTC. The current market cap of XRP is $33,134,349,311 and that of BTC is $574,121,632,744. The market capitalization of BTC is 17x higher than XRP! This means that XRP could theoretically make a 1500% profit and still be number 2. But be optimistic and stay with a 500% profit because it's possible that XRP will go through a 1-year consolidation period before another huge pump. So you want to use your money on something else if it happens.
From the Elliott Wave perspective, this is really a strong setup. We have a nest (1-2-1-2), which is a bullish base. Now we are waiting for the 3rd wave to finish.
XRP won the SEC case recently, and that caused a 100% pump in a few days. New developments are good and positive, so I don't see any reason why XRP should go down.
We will take a look at all profit targets from a technical perspective in the next update on this post tomorrow.
Thanks for reading! I hope you learn something new, and let me know your thoughts in the comment section!
🥇GOLD - Support retest gives a medium-term perspective Gold is testing one of the mentioned support lines and on Friday the price closes the session near the border. When the session opens on Monday, a quick fall to 1900 is possible
TA on D1
1) The dollar index smoothly tends upwards after the consolidation above 102.09, which indicates that the price is ready to grow further, and in this perspective gold will continue its fall.
2) The chart below is forming a consolidation before breaking through the 1914 area, a third retest is being formed.
TA on H4
1) A descending price channel is formed. The market is testing the support area of the channel for the third time already
2) The next retest may lead to a break of trend support, in this case the price may test 1900 or 1895.
3) Below this support is a strong area, buyers will not let 1900 be broken so quickly.
4) A bounce and correction is possible from 1900-1895
Key support📉: 1913.8, 1900, 1895
Key resistance📈: 1920, 1930
GOLD → The market is ready to continue its declineOANDA:XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers.
This week is published quite a lot of interesting news. It is worth paying attention to:
15.08
1) Core Retail Sales (no data, the previous ones were bearish)
2) Retail Sales (expected to strengthen)
16.08
1) CPI (expected to decline)
2) FOMC Meeting Minutes
17.08
1) Initial Jobless Claims (no data, previous ones were bearish)
2) Fed MI
In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument.
From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area.
Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market.
Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news.
Support levels: 1912, 1902, 1900
Resistance levels: 1915, 1920, 1935
Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening.
Regards R. Linda!
APEUSDT → A distribution could follow from the bottom of 1.730BINANCE:APEUSDT is trying to develop a bullish scenario. The prolonged bearish trend may end, but buyers will have to take and hold a few positions to do so
While bitcoin is testing a strong support area and is in the correction phase, APE is breaking the descending wedge resistance and forming a local wedge. In this case, we are interested in resistance at 1.836 and 1.990, the latter being the resistance area of the wedge.
It is enough for the bulls to break one of the levels and form the liquidity area, which will allow to start the strengthening and distribution phase after consolidation.
The price tested the bottom at 1.730, the market reacts with a small bounce.
MA-50 resistance may be tested soon, market may give a small bounce before breaking the resistance and further up towards 2.793
Support levels: 1.836, 1.730
Resistance levels: 1.990, MA-50
I expect the growth to continue after the breakout of the mentioned resistance area. Medium-term potential - 2.793, 4.528.
Regards R. Linda!
GOLD → Resistance retest and false breakout of MA-50OANDA:XAUUSD is testing the indicated target support at 1912.7. A false breakout is formed and the market reacts with a rebound to the false breakout of the liquidity area
The price is testing the resistance of the next bearish channel. There is a possible reaction in the form of a fall from the resistance and at the same time, the price may test the resistance area above, there is no sense to talk about a change of trend and global growth now, I stick to the fact that the fall in the medium term will continue.
For us an important resistance area, in a bear market, will be the zone: 1919.6, 1924.8, 1930.2.
Moving averages act as resistance, the price is already testing MA-50 in the format of a false breakout.
Resistance levels: 1919.6, 1924.8, 1930.2.
Support levels: 1912.7, 1900
I expect the price to fall along the trend from the resistance areas. Strong bearish trend dominates the market.
Regards R. Linda!
SUSHIUSDT → Resistance breakout. Expect momentum BINANCE:SUSHIUSDT is forming a bearish wedge and after retesting the global bottom, the price starts to strengthen, breaking the resistance of the pattern
A symmetrical triangle has been forming for the last few weeks, within which the potential is accumulating. Within the forming figure, the price is breaking the resistance of the global wedge, but is still trapped under the triangle resistance. Most likely, when breaking the symmetrical triangle resistance, the coin can show an excellent bullish momentum. The market is waiting for activity from bitcoin, but it has reduced its volatility to a minimum, showing little reaction over the past few weeks only yesterday when the market bought back the decline and altcoins reacted accordingly.
The SUSHI bulls may prove themselves in the near future
Support levels: 0.637, previously broken wedge resistance
Resistance levels: Triangle resistance, 0.827
I expect consolidation above the wedge and retest of the triangle resistance with the subsequent breakout and growth towards these levels.
Regards R. Linda!
RUNEUSDT → Price breaks resistance after retesting the bottom BINANCE:RUNEUSDT is forming a prolonged downtrend. A global setup capable of changing the trend is being formed. After testing the bottom, the price starts to realize the bullish potential
The rebound from 0.777 (market bottom) forms a bullish reaction on the background of bitcoin growth. An active strengthening and breakout of the global trend resistance is formed. The price is sandwiched between local resistance at 1.110 and support at 1.003. A local consolidation may be formed with the subsequent retest of the upper boundary of the flat and realization of the breakout. This move may give the market a new potential and price growth. MA-50 acts as support and MA-200 as resistance. The height of the range is large and this gives scope for the medium term.
Support levels: 1.003, 0.777, MA-50
Resistance levels: 1.110
I expect a retest of 1.110 followed by a breakout and further growth to 1.433 or 1.722.
Regards R. Linda!
🥇GOLD - Retest of resistance gives a sell signal Gold is testing a new low and updating the low. Price is forming a bounce and testing trend resistance, but more likely another decline may be formed which will further weaken the price.
TA on the high timeframe:
1) We should consider 1902.87 as a medium-term target
2) Yesterday's daily candle formed a strong enough signal to fall - a shakeout was formed (a candle with a long shadow). The market sold off everything it bought and closed the session at the very low.
TA on the low timeframe:
1) The market bought back the decline a bit and tested bearish trend resistance.
2) If price does not break trend resistance on the retest, the decline will continue
3) A sell signal is forming now, it is important to wait for the confirmation of the signal
Key resistance📈: 1919.7
Key support📉: 1914
💱USDJPY - Bounce from the level before resistance breakout USDJPY is testing the resistance of the ascending channel and the resistance of the 144.897 range. On the local timeframe, the price is preparing for a breakout and further growth
TA on the high timeframe:
1) A retest after a month, and a quick approach to the level may give a bounce down, for example to 143.7
2) Price has stopped and is forming a decrease in volatility, most likely the consolidation phase begins, another retest of resistance may follow.
TA on the low timeframe:
1) Price is sandwiched between rising resistance and rising support line, but at a less acute angle.
2) Buyers continue to make an onslaught on the resistance
3) The price may break the resistance after the next retest.
Key support📉: 144.3, 143.7
Key resistance📈: 144.69, 144.89
USDCHF → The dollar may strengthen the currency pair FX:USDCHF pinches the local bottom at 0.85797 and makes a false breakdown, which realizes the countertrend potential at the moment of dollar strengthening. The price strengthens to 0.87779 and forms a setup that can continue the price growth
The bearish trend is still valid on the chart. The price is trading under the descending resistance. Pay attention to the dollar index, the price is forming resistance at 102.5 relative to the dynamic buyer. A breakout of this level by the dollar will form momentum in the forex market as well.
I expect a breakout of the symmetrical triangle resistance and active strengthening of the price against the trend.
Support levels: 0.87000
Resistance levels: 0.87779
I think that following the strengthening of the dollar the USDCHF currency pair will start to strengthen and in the medium term the price may reach 0.89088.
Regards R. Linda!
GOLD → Counter-trend correction before further decline OANDA:XAUUSD is testing a key liquidity area after breaking triangle support. The price updates the global lows and confirms the presence of an ongoing bearish trend
The price fails to reach the support at 1912.7 and forms a rebound. Most likely the target of 1912.7 is still valid, but before the support is retested the market needs more liquidity and for this purpose a correction is formed to retest the previously broken level. The price is heading towards the triangle pattern. The line of 1922.5 can be tested, or the price can go a little further, for example to 1927.5 or to 1932. It is impossible to talk about global growth now, the price is in a strong falling movement and continues to update the lows. We are looking for strong resistance areas to sell.
Resistance levels: MA-50, 1922.5, 1927.5.
Support levels: 1915,5, 1912.7
I expect the decline to continue after the retest of these resistance levels. Bearish trend reigns on the market. Take it into account in your trading.
Regards R. Linda!
NZDUSD → A bearish wedge could lead to a rebound FX:NZDUSD is declining in the format of a bearish wedge. Within the pattern, the price may test the key support, but what to expect from the price further?
The support level of 0.59939 is the lower boundary of the global flat. There are no signals to break the support now, a retest of the level is formed after 2 months, the liquidity area will not allow to break this level. After the breakout of the support of the wedge will be followed by a retest of the indicated support level 0.59939, but I do not expect a breakout of this support. With high probability a rebound from the support may follow and the price may form a bullish momentum to the 0.61330 area.
The moving averages formed a bearish signal earlier, which has already worked out, at the moment the lines indicate a bearish trend.
Support levels: 0.59939
Resistance levels: 0.60692
I expect a retest of the support followed by a bounce up to 0.60692 or 0.61330.
Regards R. Linda!
🥇GOLD - price corrections before a trend-following decline Gold finally breaks the lower boundary of the bearish channel. The market is forming a 0.6% impulse drop and the price is testing 1914.4. Technical pullback may fix the price in the zone for selling after which the fall will continue
TA on the high timeframe:
1) Breakout of the range support forms a strong impulse. The way is open for a decline to 1892
2) Price forms a retest of the liquidity area. High chance of a rebound
TA on the low timeframe:
1) Channel support is finally broken. Price formed an impulse to 1913 after which we see a correction to retest the previously broken support
2) Most likely the price may test the old flat - 1923.8, form a false breakout and continue its fall in the direction of the trend.
3) It is worth paying attention to the level of 1923.9, 1930.9 to look for sell signals.
Key resistance📈: 1923.9
Key support📉: 1913, 1900
💱EURUSD - The market is experiencing an attempt to change the tEURUSD is forming a reversal setup after a false breakout of the daily support level. The price may experience an attempt to change the local trend
TA on the high timeframe:
1) A false breakout is formed. The global correction may be over at 1.09526 level
2) Price is testing the liquidity area of 1.1200
TA on the low timeframe:
1) Price is breaking the bearish channel. An impulse is formed to retest the base of the reversal pattern
2) A break of the pattern base may form a bullish impulse towards 1.11447.
3) As the trend is broken, the price may test the resistance in the medium term and the price may strengthen to 1.2430 in the medium term
Key support📉: 1.09670
Key resistance📈: 1.10400
GOLD → The bear's paw regulates the market. The red zone OANDA:XAUUSD is forming a setup that can accumulate the potential to continue falling. The price is testing local support and forming a rebound before further decline
The global bearish trend continues to develop. The price failed to pass through the 1980 area, forming a false breakout of the resistance area.
A downward price channel is formed on the chart, after breaking the trend support the price forms a prolonged consolidation below the support. A descending triangle is formed, which can be interpreted as a dpavlenie prodlavleniya on buyers in the area of 1922.
Moving averages show a strong trend and act as resistance. MA-50 confirm the local resistance of the triangle.
Support levels: 1923,5
Resistance levels: 1927.5, triangle resistance
In the medium term, I expect a continuation of the fall, but before that there may be a rebound to 1927-1930.
Regards R. Linda!
Bitcoin - Explosive breakout, watch this bull flag!
Bitcoin is forming a bullish flag pattern or a wedge pattern on the daily chart, and that's why we can expect an explosive breakout in the immediate short term! The question is, when is it going to be? I would say this or next week, because the price could still touch the upward yellow trendline. But the decision will be very soon!
Bitcoin is bullish because the price is above the yellow trendline and above the 200-day simple moving average. They are pretty close to each other. This moving average is considered strong support / resistance by huge institutions and hedge funds. It can also be a 200-week MA or a 200-month MA. They are pretty good.
The target of this bullish flag / wedge is the white trendline. Make sure you take profit here because we could crash from this point!
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Usually September is a bearish month, but we still have almost a month. Bitcoin usually pumps in 1-3 straight candles when no one is expecting it. It can be really fast!
XRP also reached a strong support that can send it to higher prices, specifically 1.7 USDT per coin. It's a good time to buy it!
I remain bullish on BTC, but on the intraday chart, we could still have some imbalance and wicks to take liquidity before going to 32k. Let me know in the comment section what you think about BTC. I look forward to your comments!
Thank you, and for more ideas, hit "Like" and "Follow"!
🥇GOLD - Another retest of 1930 in a weak market Gold is reducing its volatility and continues to consolidate at 1933.9. On the global timeframe, support at 1938.9 is broken and preconditions for further decline are forming
TA on the high timeframe:
1) False breakout after correction. The level of 1938.9
2) Liquidity area. The price is forming another retest.
TA on the low timeframe:
1) A situation of buying weakness is forming. Price returns to the retest of 1933
2) There could be a bounce on a decline to trend support, but medium-term potential remains with sellers.
3) The area below 1930 is quite tight and does not let the price in yet. Further continuation of narrow consolidation is likely
Key support: 1933.9, 1930, 1926
Key resistance: 1937, 1938, 1943
💱USDCHF - Symmetrical triangle may continue to grow USDCHF is forming a local bullish trend. Globally - correction. A pattern is forming between the liquidity areas, the breakout of resistance of which can form a rapid rise
TA on the high timeframe:
1) A correction is formed after the breakout of 0.8860 level. The growth will continue to the resistance
2) A bullish liquidity area is forming at the bottom, the price is being pushed upz
TA on the low timeframe:
1) A symmetrical triangle is formed on the background of a local bullish trend
2) The price bounces off the support and retests the resistance.
3) There is a high chance that the breakout will take place. In this case I will wait for the growth to 0.89157.
Key support: the lower boundary of the triangle, 0.8700.
Key resistance: 0.87779
