#BTC: IS THE DOWNTREND ENDS HERE??Hey everyone!
Appreciate a like and follow if this analysis helps!
Welcome to this BTC update. BTC is trading inside a broadening wedge pattern in the daily time frame and currently hovering near the lower trendline of the wedge.
Every time the price tested the lower trendline, it formed a new lower low but, the first time, it made a Lower high, hinting at a possible shift in momentum. This could signal the end of the downtrend and the beginning of a new uptrend.
A potential bullish outcome includes a new all-time high by the end of the year.
Invalidation: Daily close below the previous lower low.
What are your thoughts on BTC's current price action? Share your analysis in the comments!
Lowerlows
GBPJPY - 29/06/2023 30 Min TF [Short]29/06/2023 - 30 Min TF
After a long Bullish run, we can see on the 30Min & 1 Hour timeframes there has been a shift move in momentum in the last few days. The market has been highly bearish so we will be looking for sells in the market.
The market has been highly bearish so we will be looking for sells in the market. Dispite the bullish momentum on the Weekly & Monthly timeframes.
Recent news articles also points to a potential Bullish run. Raising interest rates also supports the idea of a longer
Looking to enter a trade after price has broken above area of resistance, & it has come back to close below the zone. 1:1 Risk-to-Reward or higher win rate ratio
Happy Trading!
Supreme Trading Society
DISCLAIMER: All trades are just my own ideas and should not be taken as a signal. Follow me for more ideas
UK100 Short Term Sell IdeaD1 - Bearish convergence followed by a pullback,
Bearish hidden divergence.
Price is bouncing lower from a strong resistance zone.
No opposite signs.
H4 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
EURGBP Short Term Sell IdeaH4 - Bearish divergence.
Lower lows.
Currently it looks like a pullback is happening.
Bearish hidden divergence.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
The Bear Market Looms: Is Ethereum in Trouble?Technical analysis using the Ichimoku cloud indicates that Ethereum is approaching a resistance level around the HKEX:2 ,200 price range. This resistance level suggests that Ethereum's price may experience a pullback or even lower lows from this point.
The Ichimoku cloud is a technical analysis tool that uses a combination of indicators to identify support and resistance levels. It is made up of several lines that provide information about price momentum, trend direction, and potential reversal points. When the price is above the cloud, it indicates that the trend is bullish, while when it is below the cloud, it is bearish. In Ethereum's case, the cloud is indicating resistance around the HKEX:2 ,200 price range, which could result in a pullback or even lower lows from this point.
NASDAQ - Looking To Sell Pullbacks In The Short TermH4 - Price is bouncing lower from a key resistance zone.
Bearish divergence.
Most recent uptrend line breakout.
H1 - Bearish convergence.
Currently it looks like a pullback is happening.
Until the key resistance zone holds I expect the price to move lower further after pullbacks.
EURCAD Short Term Sell IdeaH4 - Bearish convergence.
Uptrend line breakout.
Currently it looks like a correction is happening.
H1 - Bearish trend pattern.
Until the two strong resistance zones hold my short term view remains bearish here.
A valid breakout below the most recent uptrend line would be the validation for this bearish view.
EURCAD Short Term Sell IdeaH4 - Lower lows.
Currently it looks like a correction is happening.
Bearish hidden divergence.
H1 - Bearish trend pattern.
Currently it looks like a correction is happening.
Bearish divergence.
Until the two strong resistance zone holds my short term view remains bearish here.
A valid breakout below the most recent uptrend line would be the validation for this bearish view.
USDCAD - Looking To Sell Pullbacks In the Short TermH4 - Price has broken below a strong support zone.
After the breakout this strong support zone is acting as a strong resistance zone for us.
Lower lows.
Until the strong resistance zone holds I expect the price to move lower further in the short term after pullbacks.
Dax - Looking To Sell Pullbacks In the Short TermH4 - Price respected a key resistance zone and bounced lower.
Bearish divergence.
Lower lows.
H1 - Bearish trend pattern.
Currently it looks like a correction is happening.
Until the two strong resistance zones hold my short term view remains bearish here.