BAL ANALYSIS📊 #BAL Analysis
✅There is a formation of Descending Channel Pattern in weekly chart. Currently #BAL is in bearish way.
After a breakout of the pattern and major resistance level we would see a bullish momentum otherwise the price will drop more 🧐
👀Current Price: $2.750
⚡️What to do ?
👀Keep an eye on #BAL price action and volume. We can trade according to the chart and make some profits⚡️⚡️
#BAL #Cryptocurrency #Breakout #TechnicalAnalysis #DYOR
Neutral
Why is BTC down today?Stocks and crypto both down the last couple of days. BTC often levers the remainder of the cryptosphere up and down based on it's own direction. Very much like a teacher and a group of students. Most will do what they're told, but there will also sometimes be a couple of rogues that don't follow the pack. With regards to BTC, we could be looking at a head and shoulders top. We've seen a piercing of the neckline today, only to rebound back above it. I'd say that if we see a decisive open and close below the neckline on a 4HR timeframe (minimum) H&S will be confirmed and we'll be down to the long purple box where there lies good resistance. Fear not! This is normal, natural and if you're an investor don't go chopping and changing. Just enjoy your weel and look out for the next few posts where we could leverage a great buy back with some extra cash. So, if you're going to do anything - raise some capital to add in! Follow and share for more.
DAX // neutral zoneThe market has turned south, after reaching the weekly target fibo 200, with a daily wave, and then tested the last clean daily breakout, but couldn't close above it.
It's between a daily breakout and a daily breakdown, that makes it a neutral zone. Leaving this zone (up north there is a clean H4 breakdown that may stop the bulls) puts the market either in the primary long expansion phase, or the countertrend expansion.
The target of the former is the weekly target fibo 213.2, the short target is the monthly breakout.
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Orange lines represent impulse bases on major timeframes, signaling the direction and validity of the prevailing trend by acting as key levels where significant momentum originated.
Level colors:
Daily - blue
Weekly - purple
Monthly - magenta
H4 - aqua
Long trigger - green
Short trigger - red
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Stay grounded, stay present. 🏄🏼♂️
<<please boost 🚀 if you enjoy💚
GOLD // neutral zoneThe market is close to the weekly breakdown, the daily impulse base and the H4 impulse base.
This fact alone, may trick the trader.
Above the H4 impulse base, the minor long trend may continue, and the primary long trend expansion phase begins above the last clear daily breakdown.
Below the daily impulse base, the market may go back to the daily countertrend.
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We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds.
Stay grounded, stay present. 🏄🏼♂️
Your comments and support are appreciated! 👊🏼
GOLD // Trap for the Bulls&BearsThe market is mixed on the weekly, long on the daily, be below the last (or highest) clean daily breakdown.
The H4 is not in sync with the daily, and the market is between a breakout and a breakdown.
THIS MAKES IT A TRAP FOR BOTH BUYERS AND SELLERS.
I'll stay away from it.
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We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds.
Stay grounded, stay present. 🏄🏼♂️
Your comments and support are appreciated! 👊🏼
BTC - a last dip before new ATH ?The chart is in 3H cause couldn't zoom out more with lower timeframes :((
Pattern recognition at its best
since the low of the 10 October, the price action is an extremely exact copy paste of march/April ATH :
- A significant top, ATH for the first pattern and 3 months high for last week
- first take profits, to 200MA 4H for the first pattern, to 100 MA 4H, 4 days ago
- 2nd wave and 3rd wave higher than the second (almost hit ATH), the second wave has been made and BTC will probably make the third tomorrow
in April this followed a correction. The pattern was bigger in April in % price and in time, so we should see shorter waves and lower price movements now.
The conditions for this to continue as the last time and to see the last dip is to have a 3rd wave going around 69K :
- if we break above 69k the pattern get invalidated
- if we stay to long time above .618 fib extension at 66K3 the pattern get invalidated
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Careful don't mind me, I'm neutral on this idea, and will not do anything before seeing a clear path. What changes now from April is that the halving was priced in way before so I'm seeing also lot of reasons why prices could just go above 69k and fly from now
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Last but not least, BTC is for the moment following the orange path from my precedent idea, putting my target for fall 2025 at 240K, but this can change a lot
Good Luck
Cheers