Get started

Pullback

Pendle and the missing Fib - potential for a 30% correctionI like Fibs. Especially in crypto. Wherever I see a well-defined and significant run up or run down in the historic price action I draw some basic extension Fibs (yes, sometimes upside down as well - I don't care...). Then I check whether these Fibs have historically been, and are being, acknowledged. If so, then that set of Fibs is what I use for trading. As I need some historic price action to feel comfortable, I'm not particularly interested in new crypto's and, as usual, I made it to Pendle well and truly late for the party (little green arrow shows where I finally got in). But what saw I liked. Pendle responds really well to one particular set of Fibs that are the upside down extension Fibs of the original run down from late-2021 to mid-2022 (see weekly linked chart of Pendle's full price history below). All the Fibs from this set that the price action has encountered during its meteoric rise have been properly acknowledged - except for one... After duly acknowledging the 1, the 1.618, and the 2.618 fibs (white circles), the Pendle price action completely ignored the 4.236 fib in late March (orange circle)! This took me by surprise as I clocked out and cashed in my chips at that level (red arrows). Damn! Needless to say, the next fib on the list, i.e. the 6.857 fib, is where the price stopped. Now, you can call me superstitious, but I believe that there's NO WAY that Pendle can keep going up without first coming down. :) Bitcoin is still on a sideways wobble and I'm expecting it to correct just that little bit more before the deck is cleared for a further run up. If so, then I expect this to be the perfect opportunity for Pendle to do what it is supposed to do and come down to recognise the 4.236 fib in this set! A proper acknowledgement would be a spike down and a weekly (or at least a clear daily) close on or near this fib level.
CRYPTO:PENDLEUSD
by Fractaleer
1
Dollar, VIX, Gold & Silver are Spiking! What Could This IndicateTraders, In this video I'll cover the spikes we are witnessing in the dollar, fear, and precious metals (specifically gold). We'll discuss what this might indicate to us from a geo-political/macro-economic perspective. Inflation continues to tick up. The SEC continues to attack big players (tokens/coins) in the crypto space without providing rules for how to play fairly. We'll track the current progress on stocks pulling back. Bitcoin dominance had done something it has never done before. Meanwhile, Bitcoin continues to track sideways while altcoins continue their deeper pullback. Plus, I'll analyze Ethereum Classic and at the end of the video I have some news from my followers. P.S. - Minutes after producing the video, I read that Iran plans to attack Israel. The charts were telling us something. Is this it?
TVC:VIXShort
by stewdamus
BTC UPDATE !After a pullback to the descending trendline of the symmetrical triangle, we can either: 1. Expect a continuation of the uptrend: Open a long position after breaking the $73,200 resistance level. Target the $80,000 level. 2. Consider the possibility of a false breakout: The bulls might be accumulating liquidity before a move down. Enter a short position in the $69,240 zone (high-risk). Target the first support level at $66,500. Target the second support level at $63,800 if the ascending trendline breaks. Important factors to consider: Market sentiment and news Volume and price action Support and resistance levels Overall market conditions Disclaimer: This is not financial advice. Always do your own research and analysis before making any trading decisions.
by Crypto-Oracle1
SEI - A Technical Analysis - New High is Breakout or Fakeout ? BINANCE:SEIUSDT (1D CHART) Technical Analysis Update SEI is currently trading at $0.9030 and showing overall bullish sentiment We are seeing confirmed breakout from the resistance zone. Currently price is heading back to its support level (Previous resistance level), we can expect the price to bounce back after hitting the support level. Enter 50% of the position now and rest after the pull back. Entry level: $ 0.8468 - 0.9034 Stop loss level: $ 0.6529 Target 1: $ 0.9982 Target 2: $ 1.1195 Target 3: $ 1.4870 Target 4: $ 1.9038 Max Leverage: 2x Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
1
The trendline magnet.The weekly candle that closed yesterday shows how buyers are almost eager to buy on every dip. More fud will be needed to create an intermediate correction (greater than 3-4 weeks), something that could be seen as a small catastrophe by the market, for now the rise does not seem to want to weaken, which happens in trends that have directionality and volatility, a winning mix for those who trade on btc or in general. But all that glitters is not gold, sooner or later a resistance like this trendline will be found, which is working well, attracting the price as if it were a magnet, in an area where we have no reference, once the highs are broken historical ones we navigate by sight, not knowing where the most respected levels are. Some use Fibonacci which is a very useful method in these situations, but it is not infallible, therefore entire movements or bullish "legs" are often left without being exploited. I am trying a new method that combines price and time, unfortunately there is no way to know what the period highs will be, but you can establish "when" to close a position. The advice I always give is that the position should be closed in fractions when you don't know what to do, first eliminating the risk and then closing small portions as prices rise. Everything is subjective, it always depends on where you entered and above all when you entered by buying or opening a position on derivatives.
BITFINEX:BTCUSD
by Melupira89
SAVMUSDT Stalls at Monthly Hurdle: Pullback or Re-Test Incoming?SAVMUSDT is facing significant resistance at $8.506, a key level on the monthly chart. Given current market conditions, a breakout appears unlikely in the immediate future. Technical Analysis: Resistance: $8.506 (Monthly) Support: $7.391 (Daily), $6.630 (Daily), $5.449 (Monthly Pivot) Volume: (Not mentioned in the provided text) Key Observations: SAVMUSDT is encountering resistance at a crucial level on the monthly chart. Overcoming this hurdle could signal a continuation of the uptrend. The recent price rejection suggests a potential pullback or a retest of this resistance zone in the future on the daily chart. If the price falls, it could find support at $7.391 (daily), followed by $6.630 (daily) and then $5.449, which is a significant support level on the monthly chart (monthly pivot). Conversely, a successful breakout above $8.506 could lead to further gains towards $9.246 (second daily resistance) and potentially reach $10.666. SMA 200 can play a pivotal support role for SAVM Conclusion: The inability to break through the $8.506 resistance on the monthly chart suggests a potential pause in the uptrend. Traders should closely monitor the price action around this level. If the price pulls back, established support levels exist at $7.391 (daily), $6.630 (daily), and $5.449 (monthly pivot). Conversely, a breakout above resistance could signal a surge towards $10.666. This information is for educational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.
by behnoudt
3
GOLD, 2088 should be holding for the momentHello everyone, price action in Gold continues to be very strange and we saw a significant move to the upside after a bear trap formed below 2000. The move went directly to the 2088 resistance (and orderblock) and a correction from the local overbought conditions is likely. The elliot wave count at this stage is very unclear, but I left my count on the chart. It's still possible to break down again towards lower price targets in the 19xx area. At this moment it's not clear at all for me. I would like to see your comments and wave counts below, so feel free to share.
OANDA:XAUUSDShort
by Kyrean
2
Decoding BTC's Weekly Chart: Insights from SMC PerspectiveBTC has reached a critical point on its weekly chart, entering what we call the SUPPLY zone. This suggests that it might either pull back a bit or surge to new highs before dropping back down. We could see it go down to around 58k to 53k, but it's unlikely to dip below 50k. Why? Because there are new big investors who bought in at these levels and won't sell unless they're really scared or forced to sell. So, the idea of BTC dropping to 24k, as some have predicted, seems pretty unlikely for now. These zones act like strongholds, likely to cause BTC to bounce back up, possibly pushing it higher within the channel. But, if things turn sour and BTC breaks below these zones, the big players, known as whales, might start selling, setting off a chain reaction downward, where other big investors are waiting to buy at lower prices. Understanding the CHANNEL 📈 Think of the channel as the boundaries that guide BTC's price movement. Staying above these lines is crucial to avoiding a downward spiral. Conversely, we can expect BTC's price to soon hit the upper boundary of the channel, according to the weekly outlook. #BTC #ATH: Decoding the All-Time High If we take a closer look at the weekly chart, we'll notice something interesting: BTC's All-Time High (ATH) hasn't been surpassed yet. The bodies of the weekly candles suggest that a pullback might be on the horizon. The white line you see represents a critical level at the ATH, which BTC will likely test multiple times in the future. Breaking above this line would signal a new upward trend towards the channel's upper boundary.
by EpicTradingUK
The trendline on the btcusd weekly.The trendline had its importance, the price crashes into it and retraces, I hope only in the short term, otherwise I may have done the math wrong. There is. Nobody knows the future and technical analysis is the study of the past, therefore the probability that this ongoing movement is a short-term correction is high, for the simple context in which we find ourselves I made this reasoning, an all-time high and then a pullback, I think it's textbook. I also noticed an interesting date like March 29th, on that day there will be a very large number of options expiring, I don't know if it's related but given the amount of BTC in question, I think it's important to keep this in mind. The weekly candle that just closed the day before yesterday is a clear indecision candle drawn on a dynamic resistance like the trendline we see on the chart. So once the strength of the bears has run out, the bull could come back and perhaps even very violently until the intermediate correction, usually longer than 3/4 weeks, unless this is in progress, in which case the scenario would change slightly, but the underlying trend would remain clearly bullish.
BITFINEX:BTCUSD
by Melupira89
The macd on the btcusd daily.Correction in progress, macd reporting a new cycle but we knew this well. Now the thing to do is to wait and understand how long this correction will last, because there are still many buyers. The indicator here is drawing a high and agrees with the price, a signal that the bullish trend is very strong, this is in addition to the other bullish signals we have on btc, including the sequence of highs and lows on intermediate period and time, because by drawing the maximum at 73k usd, the price canceled the previous short-term correction made between December and January. I remind you that it is not enough to have a sequence of ascending highs and lows, but it is also necessary for the price to remain upwards for longer than downwards.
BITSTAMP:BTCUSD
by Melupira89
The weekly on btcusd.An old trendline drawn on long-term cyclical lows, today seems like a good resistance where perhaps the price will have a small moment of pause, perhaps in the short term (3 weeks - 1 month). Last week's closing above the historical highs or in any case in that area also seems to give continuity to the bullish trend, but here now it is more important to try to understand the signals that could lead to a short-term correction or the more important one in the intermediate period. Understanding in time when the price will be in intermediate correction, as we have already seen in the past, becomes essential to recharge or get on the train which at this point only an unexpected catastrophe could stop. With this I don't mean to say that the time has come to sell, but quite the opposite, this is a good time to take advantage of a share for those who already have huge percentages in their portfolio, otherwise there is nothing to do, just wait for the possible corrections and buy. Today it's easier to say, it's true, I was lucky enough to get a lift in time which then proved to be the right one, except that if we didn't follow our experience, we'd be complete asses.
BITFINEX:BTCUSD
by Melupira89
EURUSD 10/3/24EU markup here with almost the same thing as GU with a nice run of the highs on Friday. Looking for a drop here early on our week to lead us into a potential lower priced buy move, mainly we are looking towards our last low as liquid and the demand responsible for the push above our major highs on Friday. il be looking for low risk shorts from our liquid sweep and then some new long positions from the highlighted demand below, leading us into a new high move and giving us a relatively good pullback move! trade what you see and not what you want!
by rosshayes