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Harmonic Patterns

BTCUSD- capped by resistance at $92,000The recent Bitcoin (BTC) price action suggests a bearish sentiment despite the broader long-term uptrend. The market reached an all-time high of $109,000 on January 20, 2025, before reversing, signalling potential downside risks. Formation of a Double-Top Reversal Pattern BTC has formed a double-top pattern, a classic bearish reversal setup. The critical “neckline” support level at $91,900 was breached, confirming the trend reversal. A corrective pullback from this level has intensified selling pressure, increasing the likelihood of further downside movement. Key Support & Resistance Levels Immediate Resistance: $86,227 Major Resistance Levels: $89,075 $91,900 (previous neckline, now acting as resistance) Key Support Levels: $77,900 $74,900 $72,750 (long-term support) Bearish Scenario If BTC fails to sustain a move above $86,227, the price could resume its decline. A rejection at this level would reinforce downside pressure, targeting $77,900 initially, with extended losses toward $74,900 and $72,750 in a deeper correction. Bullish Alternative: Breakout Confirmation A daily close above $86,227 would invalidate the immediate bearish outlook. A sustained breakout could lead to a rally toward $89,075, followed by a potential retest of the $91,900 neckline resistance. A confirmed reclaim of $91,900 could shift momentum back to the bulls, opening the door for renewed upside. Conclusion BTC’s price action remains bearish in the short-to-medium term, with key resistance at $86,227 dictating the next move. A failure to break higher could reinforce the downtrend, while a confirmed breakout above resistance would shift sentiment bullish. Traders should closely watch these critical levels for confirmation of the next directional move.
TRADENATION:BTCUSD
by Bayram-Tekin
1
Gold rebound continues and still has upward trendGold continued to rebound yesterday and gradually strengthened in the European and American markets. It once stood at 2890. So whether we are looking at the return of the bullish trend or the early short correction. This depends on the definition of the trend. If you see a return to the bullish trend, then today we must see a continued rise. If you see a correction of the bearish trend, the daily single positive rebound today is a decline. From the perspective of the return market, the rebound in the early morning of Friday continued on Monday, and the daily line turned positive at the high closing, which means that the market is not very weak. The continuation of the rebound indicates that the support below is strong. Although this wave of retracement and decline is 124 US dollars, it seems to be a large decline, but compared with the previous continuous rise, it can only be regarded as a retracement correction of the bulls, which does not change the overall trend. If it can rise again today and return to the channel, then we can see the return of the bullish trend, or there will be a second high of 2956. As for whether it can set a new high, we will talk about it at that time. Gold continued to rebound yesterday and gradually strengthened in the European and American markets. It once stood at 2890. So whether we are looking at the return of the bullish trend or the early short correction. This depends on the definition of the trend. If you see a return to the bullish trend, then today we must see a continued rise. If you see a correction of the bearish trend, the daily single positive rebound today is a decline. From the perspective of the return market, the rebound in the early morning of Friday continued on Monday, and the daily line turned positive at the high closing, which means that the market is not very weak. The continuation of the rebound indicates that the support below is strong. Although this wave of retracement and decline is 124 US dollars, it seems to be a large decline, but compared with the previous continuous rise, it can only be regarded as a retracement correction of the bulls, which does not change the overall trend. If it can rise again today and return to the channel, then we can see the return of the bullish trend, or there will be a second high of 2956. As for whether it can set a new high, we will talk about it at that time.
OANDA:XAUUSDLong
by niwmniwm
2
Analysis of the latest gold trendIt opened at 2892, then tested upward, reaching a high of 2895, but then pulled back to 2978. During the European session, gold showed strong momentum and climbed all the way to a high of 2921. The current market faces a key resistance range of 2927-2931, and there is a solid support band of 2905-2897 below. From a technical perspective, gold prices have performed well in the European session after experiencing range fluctuations in the early trading session, but the upper resistance cannot be ignored. When operating at night, we should focus on the reaction of gold prices to these key points. In view of the current market situation, it is recommended to adopt a rebound-based short-selling strategy and take advantage of the callback opportunity when the gold price hits the upper resistance. At the same time, we need to remain vigilant so as to flexibly adjust the trading strategy. Es wird empfohlen, beim Rebound von 2920-2925 zu shorten, mit einem Stop-Loss bei 2932. Das Ziel liegt bei 2907-2900, der Durchbruch bei 2890.
OANDA:XAUUSDShort
by niwmniwm
BTC Ready for a Big Move?Technical Breakdown: #BTC is forming a harmonic pattern on the 30-minute time frame, signaling a potential bullish reversal. Bullish divergence is developing, which strengthens the case for an upward move. The key resistance level is acting as a barrier. A break and close above this level will confirm a bullish breakout. Trading Plan: 🔹 Wait for bullish divergence confirmation. 🔹 Monitor the breakout of resistance. 🔹 If a candle closes above resistance, enter a long position with proper risk management. 🔹 Target levels: 93700 🔹 Stop-loss below recent lows for a safe risk-reward ratio.
Long
by Bayram-Tekin
1
Will Gold continue to break upward?GOLD 4H NEW FORECAST 📈 Bullish (Uptrend) Scenario: Current Price: Around $2920 If gold stabilizes above $2918, the trend remains bullish. Next targets for a rise: $2931- $2955(Resistance Zone - GOLDTURN) $2,970 (Major Resistance Level) A break above 2931could signal further upside toward $2970. 💡 Key Takeaway: Stability above $2931 confirms a potential move toward $2955 and $2970. 📉 Bearish (Downtrend) Scenario: If gold fails to hold above 2918and drops below, it may decline. First support level: $2907 Break below $2907 could lead to further drops: $2883 (Support) $2868 (Stronger Support) Major support zone: $2830 - $2805 If price drops below $2883, a stronger downtrend could develop. 💡 Key Takeaway: If gold drops below $2918, expect further declines toward $2907 , $2883 📌 Simple Summary: ✔ Above $2931 → Expect a rise to $2955 & $2970 ✔ Below $2907 → Expect a drop to $2883 & $2868 ✔ Break above $2955 → Strong bullish continuation ✔ Break below $2883 → Strong bearish continuation
OANDA:XAUUSDLong
by Bayram-Tekin
Instability, BTC’s Downtrend & ETH at a Critical Level!The crypto market has been highly unstable over the past few weeks, largely due to the Federal Reserve’s stance on monetary policy. With no signs of quantitative easing, the market has reacted negatively, triggering a broader downtrend—especially for Bitcoin. On Sunday, we witnessed a dramatic price surge, with BTC skyrocketing from $84K to $94K, only to see all gains wiped out within a single day. This price action is eerily similar to the 2019 “China Pump,” when BTC spiked from $7K to $10K before retracing completely within days. Such volatility suggests that sentiment remains fragile, and sellers continue to dominate. Ethereum (ETH): A Sign of Weakness? ETH isn’t looking strong either. It’s currently hovering around the $2,100 level, sitting right on a critical support zone. As I’ve highlighted in my chart, ETH has already broken below its support trendline—a bearish signal that suggests further downside risk. If this key support level fails to hold, we could see ETH drop to around $1,500 in the coming weeks. Implications for the Altcoin Market If ETH loses its support zone, it could trigger a major sell-off across the entire altcoin market. Historically, ETH acts as a leading indicator for altcoins, and a breakdown here could push Bitcoin dominance up to 66%-70% before altcoins find a bottom. This means we could be in for another phase of altcoin underperformance while BTC consolidates. Final Thoughts: Watch ETH Closely! Given the current market structure, my suggestion is to monitor ETH closely at these levels. If it fails to hold, expect a significant downward move in the altcoins market. Bitcoin dominance rising would confirm that altcoins are in for a rough period ahead. Stay cautious and trade accordingly! Stock Market Struggles Add to Bearish Sentiment It’s not just crypto feeling the pressure—the stock market isn’t looking good either. Both the S&P 500 and NVIDIA are down significantly today, adding to the overall negative sentiment. When traditional markets struggle, risk assets like crypto tend to follow suit. That said, I’m expecting one final leg down before we see a shift. Once the Federal Reserve signals quantitative easing (QE), we can start anticipating a return to bullish momentum across both stocks and crypto. Until then, caution is key!
COINBASE:ETHUSDShort
by MBM_Crypto