Hey Spy Lovers check this Candlestick Scenarios for future move I suspect it’s time for a good pullback. As we can see, the price continues to fluctuate within the ascending channel, but there are two scenarios I anticipate where a pullback might occur in the coming days.
Note: Every pullback is simply a very natural price movement. This does not mean that we are in a bearish market at the moment. If the overall structure is bullish, pullbacks are just part of the cyclical nature of price movement. Here are two potential scenarios in case the price decides to make this natural pullback:
Scenario 1:
If you compare the two types of candles I marked on the left, notice how the candle patterns have more volumetric, medium-sized bodies than the other. This indicates strength; however, we are not exempt from a natural pullback, which, to complete a trending cycle, broke the structure itself to the upside.
Scenario 2:
Let’s assume the price becomes quite exhausted and begins the pullback I am anticipating. I have marked two zones of great importance where the price will most likely rebound:
First Pullback Zone (equivalent to a block order):
Notice how, coincidentally, this zone touches the support of my ascending channel. Coincidence?
Second Rest or Pause Zone:
This zone must be considered because if there is a structural break, the price may drop lower to this point.
Note: The overall structure remains bullish unless a lower structure or demand zone is broken, Until then, we can only consider pullbacks and impulses as part of the price cycle in its upward movement.
Thank you for supporting my analysis.
TRADE SAFE!
Pricemovement
BIT scours a new highsAfter the prices slightly down searching for a support, it gained a good momentum from the bullish channel bottom board to rise again scouring a new high at 103.620.
The Main direction for the medium and long periods remains bullish and it may scour new highs around 106.880 area, But that relay on the stability of the channel's bottom line.
As if the price was able to break through that line it may search for more supports then
Be Ready For A 20%+ Pullback On BitcoinTraders,
With the 100k psychological resistance almost hit today and just above that our 1.618 Fib Retracement from previous high in 2021 to its low during the bear market, I think it is time we consider some pullback from Bitcoin. I sometimes like to take a look a MSTR to see what it's doing as it often drops clues as to what Bitcoin will do next. Today MSTR dropped nearly 22%. That's interesting because the level of pullback that I have been discussing for Bitcoin is to that 76k price level, around 22%.
I may actually even pull the trigger and short BTC at 100k and then DCA in another load at 102k but I am not sure we'll even get there before we start to pull back.
✌️ Stew
#NIFTY Intraday Support and Resistance Levels - 03/12/2024Flat or slightly gap up opening expected in nifty. After opening important level for nifty is 24350. If nifty gives breakout of this level then possible strong upside rally upto 24550 in today's session. Downside 24050 will act as an strong and important support for nifty. Any major downside only expected below this support level.
Which elevator are we taking? ARB finally broke above 1$. With ETH breaking out of the short-term downtrend channel (check my previous post) this ETH-based layer 2 can see some strong gains as long as ETH keeps on moving up. Stronger resistance possible at around 1.4, which would already be a strong move up. If that doesn't stop the price then 2$ and 100% profits may be in sight sooner rather than later!
[INTRADAY] #BANKNIFTY PE & CE Levels(02/12/2024)Today will be gap up opening expected in banknifty near 52500 level. After opening if banknifty starts trading above 52550 level then expected further bullish rally towards the 52950 level. After opening it will immediately face resistance at 52500 level if any reversal then possible downside movement upto 52050 and this can be extend for further 400-500 points if banknifty gives breakdown of 51950 level.
#NIFTY Intraday Support and Resistance Levels - 28/11/2024Flat opening expected in nifty. Expected opening near 24300 level. After opening if nifty gives breakout of 24350 level then only expected strong upside bullish rally upto 24550 level. Downside 24050 level will act as an important support for index. Any major downside rally only expected below this level.
#NIFTY Intraday Support and Resistance Levels - 27/11/2024Flat opening expected in nifty. After opening important support level for nifty is 24100. Upside 24350 will act as a resistance for today's session. Any major upside rally only expected if nifty starts trading above this resistance level. Downside rally possible if nifty gives breakdown and starts trading below 24100 level.
Bullish Divergence RSI and fair value Gold-price 2625.
I am not preempting anything because I think the banks are selling into this and the market-haters are trying to take out stops long so that the market continues to fall and more liquidity at lower levels.
However, value occurs at some point. I also like the bullish RSI divergence and the oversold nature of gold seems to be coming to an end perhaps.
The daily 200ema is down at 2440 so the trend is still bullish.
Price is going to need to break back above 2630 for a sustained push upwards and attract buying.
[INTRADAY] #BANKNIFTY PE & CE Levels(25/11/2024)Today will be huge gap up opening expected in banknifty almost near 52000 level. After opening if banknifty starts trading above 52050 level then this gap up bullish rally extend for further 500-1000 points towards to 52450 and 52950 levels. Any correction rally expected below 51950 level.
#NIFTY Intraday Support and Resistance Levels - 12/11/2024Nifty will open slightly gap up in today's session. After opening it will face resistance at 24250 level. Possible reversal from this level upto 24050. But in case nifty starts trading and sustain above 24300 then possible strong bullish rally upto 24550 level in today's session. Major downside expected below 24000 level.
BTC IN UP MOVEMENT + TRADE PLANTrend Identification:
Descending Channel: Bitcoin is currently in a descending parallel channel after an uptrend, indicating a potential bullish continuation if it breaks out of this channel.
Previous Uptrend: The price came from an uptrend, and descending channels often serve as continuation patterns, suggesting a higher probability of an upward breakout.
Key Support and Resistance Levels:
Support Levels:
$68,556.87: Major support near the recent low in the channel.
$66,333.98: Secondary support zone that could act as a cushion in case of a downside move.
$64,591.15: Historical support level providing a safety net if the price dips further.
Resistance Levels:
$72,198.87: Immediate resistance that BTC needs to overcome for a continued uptrend.
$73,655.67: Key resistance area that, if broken, could trigger a strong bullish move.
Indicators Analysis:
RSI (Relative Strength Index): The RSI is close to the midpoint, indicating a neutral zone. However, an upward movement in RSI could signal increasing bullish momentum.
Stochastic RSI: Currently near the overbought zone. It indicates potential upward pressure, but caution is needed as it may signal short-term exhaustion.
Volume: Noticeable increase in volume around the support levels, indicating buying interest. Volume confirmation on breakout above the resistance line would strengthen the bullish case.
Moving Averages:
HMA (Hull Moving Average): Showing a slight upward trend, aligning with the potential breakout from the descending channel.
Trading Plan
Entry Strategy:
Aggressive Entry: Enter a long position upon the breakout of the descending channel, ideally with a confirmed volume increase above $72,198.87. This would signal a possible continuation of the previous uptrend.
Conservative Entry: Wait for a confirmed breakout and retest of the $72,198.87 level. If the price holds above this level after retesting, it indicates stronger bullish confirmation.
Stop Loss:
Place a stop loss slightly below $68,556.87 to limit downside risk. This area aligns with recent support, and a drop below it may indicate invalidation of the breakout pattern.
Take Profit Levels:
Primary Target: $73,655.67 (first resistance level). Partial profits can be taken here to lock in gains.
Secondary Target: $76,000, if Bitcoin gains strong momentum after breaking through the primary target. This level could be achieved in a continued bullish scenario.
Final Target: $80,000 as a psychological target, if there is sustained bullish momentum and no major resistance above.
Risk Management:
Position Size: Limit the position size to manage risk exposure, especially with the potential volatility in cryptocurrency markets.
Trailing Stop: Consider using a trailing stop after reaching the first target to lock in profits while allowing for potential upside.
Monitoring Indicators:
Volume: Continuously monitor the volume as the price approaches resistance zones. Higher-than-average volume would support the breakout, whereas weak volume could lead to a false breakout.
RSI and Stochastic: Keep an eye on these momentum indicators. If the RSI and Stochastic enter overbought territory and start to diverge, it could signal a potential reversal.
Timeframe:
This setup appears on a 4-hour chart, suggesting a medium-term trading perspective. Reassess positions if the breakout fails to materialize within the next few days.
#NIFTY Intraday Support and Resistance Levels - 04/11/2024Flat opening expected in Nifty. After opening, if Nifty sustains above the 24,00 level, an upside rally is expected up to the 24500 resistance level. Strong downside movement is likely if Nifty fails to sustain above this level and starts trading below 24250 during today’s session.
#NIFTY Intraday Support and Resistance Levels - 31/10/2024Gap down opening expected in nifty. After opening if nifty starts trading below 24250 level then possible downside rally upto 24050 level in today's session. 24300-24500 range is consolidation zone for nifty. Strong bullish rally expected if nifty starts trading above 24500 level.
[INTRADAY] #BANKNIFTY PE & CE Levels(28/10/2024)Gap down opening expected in banknifty for today session. Further 400-500 points downside possible in banknifty if it's starts trading below 50450 level. Upside 50950 level will act as a strong resistance for today's session. A bullish rally only expected above 51050 level.
Google / Waiting for the earnings reportGoogle refuses to break out of the 'stacked channel,' that channel where the candles are tightly packed side by side. It’s a bit frustrating that the price isn’t making any move or decision, but all we can do now is wait for the big earnings report day for the price to decide its direction.
Stay tuned on Tuesday, the 29th, after the market close!
Best Regards
Decoding the 70,000 Call Strike: What CME Options Are Tell UsAlright, let’s break this down. We’ve seen a significant influx of call options at the 70,000 strike on the CME, which is generally a pretty positive signal. Especially when you consider the recent breakout from a descending broad channel, with prices holding just above that upper boundary. Looks like we’re heading up—clear signal, right?
But here’s the kicker: the CME gives us the tools to dig deeper. We can analyze whether that influx at the 70,000 strike is coming in as naked options (which is a good sign) or if it’s part of a more complex strategy. So, what did we find? The 70 000 call options were bought simultaneously with Futures in a 2-to-1 ratio. In other words, we’re looking at a synthetic options portfolio that resembles a "Straddle" . This means they’re betting on volatility, expecting the price to move significantly in either direction—not just sitting still. Plus, there are specific timeframes and expected movement ranges involved.
So, what’s the takeaway from this example? I often come across analyses that say, “Calls at this strike are rising, so traders must be feeling bullish.” Not necessarily! Those bought calls could be neatly packaged in a Straddle or even transformed in a Naked Put using Bitcoin futures (what we call a “Synthetic” setup), which would imply completely opposite expectations for price movement.
Don’t just take others’ word for it—dive into the basics at least, but ideally, get a solid grasp of the area you’re analyzing before integrating it into your trading system and building your trading plan around it. Stay critical and don’t fall for clickbait headlines! Good luck out there!