BTC/USDT Analysis and Trading Opportunity.
Scenario : After a strong rally, BTC entered a surge around the $37,000 mark, breaking through this zone and gaining a new momentum. With the monthly chart aiming to form a bullish pivot, the daily and weekly charts are highly stressed, requiring a correction.
S&P 500 : Healthy, attempting to form a bullish pivot on the monthly chart. Strong resistance at 4600 indicates that markets are seeking a correction.
BTCUSDT
Monthly: High, close to the resistance of 42500.
Weekly: High, RSI very stretched (needing correction).
Daily: High, RSI very stretched (needing correction).
Indicators
RSI
RSI Levels
12 and 26 period Moving Averages
Volume
Fibonacci Retracement
Strategy : 1 hour and 4 hours in oversold conditions. Whenever the daily chart enters a strong uptrend, a correction is needed, indicated when the 1-hour chart enters oversold territory (30% RSI). The same rule applies to the weekly chart, with its respective oversold timeframe being the 4 hours.
To confirm this strategy, we can observe that the 5-minute chart in oversold conditions (1-hour correction) and the 15-minute chart (4-hour correction) when entering oversold conditions provided excellent scalping opportunities. Now, the buying force will wait for the 1-hour oversold condition, while the selling force will use the 42500 resistance to take profits.
Using RSI levels, the price range of $40,200 to $38,300 was found, where several buy orders should be defined to obtain the best average price. However, due to the 1-hour chart being highly stressed, the price range found today with RSI levels will not be used, requiring daily updates of the range and order values using the same tool.
The initial stop loss should be set at 37950, slightly below 38000, which is a strong psychological number. As the price range is corrected, the old nearest top will be used as a stop loss.
The first partial should be taken just below 42500 (to ensure our order is executed). I will take a significant profit and raise my stop loss to the entry price. As the weekly chart needs correction, it is expected that the price will fall below 38,000, where we will repeat the analysis and seek oversold conditions on the 4-hour chart.
Oportunity
Matic Accumulation before the push Hello everyone,
I've observed that Matic has been accumulating above a robust Fibonacci level of 0.786 over the past day. This indicates that there may be a good entry point with a tight stop loss just below the recent lows. In this case, the risk-reward ratio looks particularly favorable since if the 1.25 level is broken, the next substantial resistance level is at 1.55.
I wish you all the best of luck and remind you to trade safely.
LINK accumulating for almost 300 days The position has been accumulating for over 300 days, the price has surpassed all lower zones and removed important external liquidity, the targets remain only higher in the form of EQH.
A good reaction to the FF imbalance can be seen, and now this reaction should lead to the removal of EQH.
Against the potential decrease in dominance and signs of strength in the ETHBTC chart, the LINK chart looks very good.
BTC no need to panicI anticipate a more significant correction for the upcoming market movement, as the current one seems insufficient. It's important to practice Dollar Cost Averaging (DCA) since there haven't been any fundamental changes for Bitcoin
Matic Finally impulse to the ATH? Hello! Based on the chart, it appears that the 0.618 level has held as a strong support. Furthermore, there has been a decrease in BTC dominance, suggesting the possibility of a breakout from the local trendline with an impulse towards the next Fibonacci level or even the all-time high (ATH).
APEUSDT Ranging Looking at the chart, we can see a period of consolidation where the price has been trading within a certain range. During this time, there has been a high level of trading volume, which could suggest that larger market players are accumulating the asset.
To navigate this situation, it might be best to continue trading within the established range until there is a clear breakout to the upside. If the price does break above the local highs and this move is supported by significant volume, it could be a sign of a potential bullish trend reversal.
DOT possible breakout Hello everyone! I've observed an interesting development on the 1-hour timeframe - a local trendline has converged with an important Fibonacci level of 0.618. If this trendline is breached, we could potentially see a strong impulse towards the next level. As always, remember to trade safely and responsibly
ADA Breakout possible, TriangleCurrently, ADA is displaying a triangle pattern, indicating an upcoming breakout. However, given the fundamental background, the likelihood of a downside breakout is higher, particularly as the price approaches the 0.786 level.
Notably, the 0.34 area has seen significant buying interest, suggesting that this may be the target if ADA does break the trendline and FIB level to the downside, as supported by volume data.
+67% ONT USDTWhat is ONT ?
The Ontology blockchain is a high speed, low cost public blockchain bringing decentralized identity and data solutions to Web3. Increasing privacy, transparency, and trust, the high speed, low cost, layer 2 blockchain is designed to give users and enterprises the flexibility to build blockchain-based solutions that suit their needs, while also ensuring regulatory compliance. Through Ontology’s Ethereum Virtual Machine (EVM), Ontology ensures frictionless compatibility with Ethereum, the first step in the creation of the Ontology Multi-Virtual Machine and further interoperability for the chain.
ETH is testing the strong level of 1840.PatternThe probable pattern here is closely related to the labor market report. We have data coming out on unemployment in the US.
In addition, today the stock exchanges of the US, European countries, and Hong Kong are closed due to the Good Friday holiday.
What pattern?
We have a strong support level + negativity ahead of important data.
Very often, things work the other way around for us. If prices are pushed down before important events, we get a positive market reaction at the event. This also works in reverse, if we grow before an event, the market reacts negatively afterwards.
Today, I am considering the probability of this pattern after the data is released. If we go below 1840 (a confirmed drop, not a fake one), then the scenario of an upward trend takes a "back seat".
MATICUSDT Potential Bullish BreakoutMATIC is currently approaching a crucial Fibonacci level that aligns with a trendline created by higher lows. This price range has seen MOST of the recent trading activity, as shown on the chart. Therefore, there is a possibility for a bullish breakout in the near future, especially after the markets close on the weekend. The trading idea suggests buying Matic on Friday and selling it on Monday, as the weekend closure may trigger positive market sentiment and a potential price increase. However, it's important to monitor the price action and adjust the trading plan accordingly to manage the risk.
MASKUSDT possible short term reversal Based on the observed price action, it appears that MASK has formed a Head and Shoulders pattern, with the neckline coinciding with a significant Fibonacci level of 0.618. If the neckline is breached, there is a potential for a bearish move towards the subsequent Fibonacci level.
UNFIUSDT Possible bounce from an interest zone We are waiting for the price to return to the zone of strong market buyer profile. The zone will be protected at all costs. We only consider the first approach to the zone with a sharp rebound as a reaction. Open a long position from the target range of 4.628 - 5.0.
BTC possible 100k? Based on the historical significance of certain levels for Bitcoin (BTC), if the current level is broken, the closest new high for BTC is likely to reach 100k. This prediction is based on the fundamental background and previous bull runs, where applying the Fibonacci retracement levels highlights key levels that align with the new ones.
For example:
Bull run in 2017, Level 1.618(2017) -> 0.618 ( 2020) -> 0.382 (2022-2023)
Bull run in 2021, level 1.618(2021) -> 1(2022)
XRP possible end of the correction The 61.8% retracement level is considered significant because it represents a deep retracement that often occurs before the price resumes its trend in the original direction. However, it's important to note that no retracement level is foolproof and that traders should always use additional analysis and risk management techniques when making trading decisions.
Possible good entry since the RR in this scenario is going to be quite high
ADA Possible H&S formation There is a potential head and shoulders formation on the chart, with the right shoulder currently coming in line with a strong Fibonacci level. If this level holds as resistance, it is likely that the pattern will form. Traders can look for possible entries on the break of the neckline. It's important to note that the confirmation of the pattern will occur once the price breaks below the neckline, and it's recommended to wait for this confirmation before taking any positions. If the pattern is confirmed, the target can be estimated by measuring the distance between the head and the neckline and projecting it downwards from the breakout point. As always, it's important to manage risk by setting stop-loss levels and considering the overall market conditions before making any trades.