Get started

Parallel Channel

Bitcoin may drop to support line before reboundingHello traders, I want share with you my opinion about Bitcoin. We can observe how the price entered a range when analyzing the chart. It initially dropped to the support level, aligning with the buyer zone at the lower boundary of the range. After spending some time trading near this level, the price dipped further into the buyer zone but quickly rebounded, rising to the upper boundary of the range. Following this, the price reversed and fell back into the buyer zone, where it consolidated for a while before climbing back into the range. Shortly afterward, Bitcoin rallied to the resistance level, corresponding to the seller zone, breaking out of the range and eventually surpassing the 104600 level to reach a new all-time high (109000 points). However, BTC then began to decline within a downward channel, where it broke below the 104600 level again and dropped to the channel’s support line. Although the price attempted to recover, it failed and rebounded from the seller zone back to the buyer zone. Subsequently, the price moved back into the channel, creating a false breakout, and continued its downward movement within the channel. Given the current structure, I anticipate that BTC might drop to the channel's support line before initiating a new upward movement. Based on this outlook, I’ve set my target price (TP) at 101300 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
23
Crude Oil daily time frame - potential Ascending Channel Crude Oil Futures (CL1!) – Daily Chart Analysis (Feb 11, 2025) 📉 Market Structure: Crude oil is trading within a broad ascending channel, with higher lows forming near $68 and resistance near $80-$82. Price recently bounced from a key support zone around $70-$72, indicating demand in this area. 🔑 Key Levels to Watch: Support: $70-$72 (previous resistance turned support) Resistance: $78-$80 (previous strong rejection area) Major Resistance: $82+ (upper trendline of the channel) 📊 Potential Scenarios: Bullish Case: If price holds above $72, a continuation to $78-$80 is likely. Breaking $80 could lead to a test of the upper channel at $82-$85. Bearish Case: A break below $70 could invalidate the bullish momentum, pushing price towards the lower trendline near $68-$66. 📌 Conclusion: Oil is in a consolidation phase, respecting key levels. Bulls need a breakout above $78-$80 for further upside, while bears would target a breakdown below $70. 🚀🔥
NYMEX:CL1!
by Forexbeats
SOL → The coin may get a chance for growthBINANCE:SOLUSDT is testing trend support and at the same time bulls are trying to hold their defenses above the intermediate bottom and enter the buy zone. SOL both fundamentally and technically has good potential. Bitcoin is consolidating at this time and it can give strong coins a chance. Technically, solana tested the trend support with a touch and is trying to consolidate. I don't exclude the possibility of a false breakdown of the trend support before further growth, but at the moment the focus is on the resistance 200 - 203. If the bulls hold the defense above this area, the coin could strengthen to 245 - 270 - 290 in the medium term. Resistance levels: 203, 200 Support levels: 188, trend Emphasis on the local boundaries of the range. The market is struggling for the zone 200-205, bitcoin at this time is forming a local bullish momentum, which can also become a driver for the cryptocurrency market. Regards R. Linda!
Long
by RLinda
5
Tesla ($TSLA) Elliott Wave Analysis – Expanded Flat to $70Expanded Flat Pattern Wave A (2022 Crash) • Tesla dropped from ~$415 to ~$100, forming a three-wave (ABC) decline. • This marked the first phase of the Expanded Flat. Wave B (2023-2024 Rally) • Tesla rebounded strongly to ~$360-$400, retracing about 61.8% of Wave A. • Then overshoot beyond Wave A’s starting level confirms an Expanded Flat structure. Wave C (2024-2026 Expected) – $70 Target • Now unfolding as a five-wave impulse down. • Target zone: Primary $70 (0.618 Fib retracement) Short-Term Bearish Outlook – Wave C Down to $70 • Tesla is in Wave C, meaning more downside is ahead. • Breaking below $150 will confirm a deep drop to $70 • The final phase of selling will likely coincide with macro weakness (recession etc.). Long-Term Bullish Setup • Once Wave C completes at $70, Tesla should start a new impulse wave. • Target for next bull run: $800+. • Best strategy: Accumulate Tesla below $100 for long-term gains.
NASDAQ:TSLAShort
by Anakyn
$SPY February 10, 2025AMEX:SPY February 10, 2025 15 Minutes For the rise 595.99 to 608.13 AMEX:SPY retraced 61.8%. So, 601-602 is a good level to go long with SL 598. Since the retracement was 61.8% double top is possible around 607-608 levels. So looks good R:R ratio. Foe the fall 6018.13 to 600.65 need to cross 605.5 for uptrend. Hence 601-602 buy will have a target 604-605 levels. But AMEX:SPY at the moment is below moving averages with 200 and 50 being around 603 to 604 levels which i expect to be resisted. Hence no trade today.
AMEX:SPY
by RiderTrader
Euro can drop to support level, exiting from pennantHello traders, I want share with you my opinion about Euro. When analyzing the chart, it’s clear that the price initially climbed to the resistance level, which overlapped with the seller zone, but immediately bounced back and dropped to the support level. Shortly after, the Euro broke through the support level, falling below the buyer zone. However, it quickly reversed and began rising within an upward channel. Within this channel, the Euro broke the 1.0265 support level and performed a retest, consolidating near that level for a while before continuing its upward momentum. Eventually, the Euro reached the resistance level, broke through it, and moved up to the resistance line of the channel, ultimately exiting the channel. Afterward, the price formed its first gap and started declining within a pennant pattern, where it soon broke the 1.0435 resistance level. Later, the price created a strong second gap, dropped below the support level, and hit the pennant's support line. From there, the Euro began rising again, breaking the support level once more and climbing back to the resistance level. However, not long ago, the price fell back to the pennant’s support line, creating a third gap. In my view, the Euro can attempt to rise to 1.0360 before dropping back to the support level and exiting the pennant pattern. For this reason, I’ve set my take-profit target at the 1.0265 support level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
4
GOLD → The northbound train continues to make its way to 3KFX:XAUUSD continues its aggressive rally. The reasons for growth are the same as before - high economic risks. The price is getting closer and closer to the cherished goal of $3000. Gold exceeded $2,850 at the beginning of the week in the U.S., but its growth is limited by the strengthening of the dollar due to increased trade risks.Trump announced new 25% tariffs on imports of steel and aluminum. Gold is further supported by rising PBOC reserves and expectations of stimulus from China. However, the dollar may continue to strengthen ahead of US inflation data, limiting gold gains. Expectations of a dovish Fed and trade risks will help contain gold's decline. Technically, the next two levels are important for us: the psychological level of 2900 and the key support of 2882. Resistance levels: 2900 (not confirmed) Support levels: 2882, 2870, 2855 The bulls can consolidate above 2900 without a pullback and continue the rally, but the most likely scenario is a false break of 2900, correction to 2882 to accumulate liquidity before continuing the rally northward Regards R. Linda!
FX:XAUUSDLong
by RLinda
4
BITCOIN → Down to $90,000. Downside risks are risingBINANCE:BTCUSD feels the change of mood and continues to form set-ups hinting at a possible continuation of the correction. Another retest of the 90K risk zone is possible. On the medium-term timeframe bitcoin failed to hold near ATH, in the upper consolidation range and entered the local selling zone, under the level of 99800. A negative note is felt in the cryptocurrency market, as well as a change in sentiment. Altcoins continue to break through bottom after bottom without any positive prospects. Bitcoin at this time is most likely resentful of the US governing apparatus due to the fact that no promises from Trump have been kept so far, and the price is moving into a protracted correction in the local perspective Briefly, here's what's going on: Expectations: Bitcoin reserve, cryptocurrency market support, transparent regulation, pumping the market ... Reality: new scam coins created before the US election that sucked all liquidity, market manipulation, trade war with almost every country on the planet, dumping the market into the abyss. Support levels: 95.8 (trigger), 91300, 90K Resistance levels: 100.2, 102.67 Technically, the situation is that bitcoin may continue its decline and test 90K again, from which the risks around 90K will grow. At the moment, the price is in consolidation between 95.8 - 100.2. A pre-breakdown consolidation is forming near the support, foreshadowing the support breakdown and further fall to 90K. But, due to the dependence of the asset before the actions of politicians in the U.S., the price may shake out to 100.2 before further falling Regards R. Linda!
BINANCE:BTCUSDShort
by RLinda
40
XRP Breaks Out of Downtrend Is a Big Rally About to Begin ?XRP is currently trading around 2.42 and has recently broken out of a descending channel formation. This breakout suggests a potential shift in momentum from bearish to bullish. The price is now consolidating just above the trendline, indicating that buyers are stepping in to support this level. The descending channel was characterized by consistent lower highs and lower lows. However, the breakout above the upper boundary of the channel signals that the selling pressure may be weakening. If the price holds above this level, further upside movement is expected. A key support level is now established around 2.40 to 2.42, which was previously resistance. If the price stays above this zone, the bullish case strengthens. Immediate resistance is found around 2.50 to 2.55, where price has faced rejection before. A decisive break above this area would confirm further upside movement. Volume analysis shows that trading activity is still relatively low, which is common during consolidation phases. A strong increase in volume above 2.45 would provide additional confirmation of bullish strength. Monitoring this volume breakout is essential for validating the move. Momentum indicators such as the RSI should also be observed. If RSI moves above 55 to 60, it would indicate growing buying pressure. A hidden bullish divergence, if present, would add further confidence to the breakout. The first target for this breakout is 2.50 to 2.55, where resistance is expected. If price gains strength beyond this zone, the second target would be 2.65 to 2.70. These levels mark potential areas where price could face selling pressure or profit-taking. To manage risk, a stop-loss should be placed below 2.38 to 2.40 to avoid potential fakeouts. If price falls back below this support, the breakout could be invalidated, leading to a potential retest of lower levels. XRP is at a crucial turning point, with signs of bullish momentum building. If the price sustains above the breakout zone and breaks through 2.45 to 2.48 with strong volume, a larger upward move could follow. Traders should remain cautious but keep an eye on price action for confirmation of the next trend direction.
Long
by wolfchemist
1
GBPUSD (2H) - Short-Term ConsolidationFX:GBPUSD 📶 Technical Analysis: Weekly Chart: 🟡 The price has been in a bearish trend since September 2024, with current levels near a strong support zone around 1.2100. Daily Chart: 🟢 The bearish trend is confirmed by moving averages (MAs) and the formation of lower lows and lower highs. After testing the weekly support at 1.2100, a correction has occurred. 🟢 The price has double-tested a strong resistance level around 1.2500. 4-Hour Chart: 🟡 After strong bearish momentum at the start of 2025, the market has shifted into a bullish trend, but it is now in a neutral consolidation range between 1.2500 resistance and 1.2380 support. 🟡 There was a fake break of support caused by Trump's tariff policy. 2-Hour Chart: 🟠 A clear neutral formation has emerged, with high volatility since the beginning of February. 🔤 Summary: 🔴 Break above 1.2500: Could signal the start of bullish momentum. 🟢 Break below 1.2380: Could signal a shift to bearish momentum. 🟡 Until then, the price is likely to remain in a neutral zone. 🟡 Fundamental analysis is mandatory to understand the driving factors behind this pair. Watch the market expectations and economic indicators closely. 🟡 I am watching for clear technical formations and signals in the near future, mainly oriented for a short position if a clear opportunity arises.
by boykopetevboev
I am Amazed how XAU/USD Gold moving in a channel of 18 degrees. FX:XAUUSD COMEX:GC1! I am amazed by how XAU/USD Gold is moving in a channel of 18 degrees on hourly chart. I am a student of market geometry and how often we see such a clear trend, really fascinating! The scenario here is clear just trade the bounce off of the lower channels and we will only be short if market breaks below lowest band on this chart until then we are bullish. Keep your first targets @ upper band. Keep following for more ideas.
OANDA:XAUUSDLong
by awan0454