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Rebound

Watch Out for a Rebound on AUDCAD The AUDCAD established a Descending Wedge pattern, which in itself is demonstrative of a potential bullish rebound from its lower end. The likelihood of such a rebound taking place is bolstered by the fact that the Wedge appears to be bottoming out at the major support level at 0.92650. Moreover, bullish pressure appears to be rising now that the price action has reached the lower end of the broader consolidation range, as underpinned by the Stochastic RSI indicator. If the price manages to penetrate above the upper boundary of the Wedge, it is likely to then pull back before continuing to head higher. The first target is the 61.8 per cent Fibonacci retracement level at 0.93402.
Long
by Trendsharks
USDCAD to Rebound and Continue Climbing The pair started developing a new Markup, as we forecasted last time (see link below). This happened after the price managed to break out above the Accumulation range, as postulated by the Wyckoff Method. Due to the strengthening of the dollar, the price is likely to continue appreciating in the near future, though the correction could fall as low as the 61.8 per cent Fibonacci retracement level beforehand. Several factors substantiate the expectations for future gains. The Bollinger Bands are tightening, which indicates diminished adverse volatility for the time being. Meanwhile, the underlying bearish momentum is waning, as indicated by the MACD indicator. Finally, all of this happens as the price action is consolidating above the 38.2 per cent Fibonacci retracement level.
Long
by Trendsharks
Textbook Range Play on the USDCAD The USDCAD has been behaving as per the expectations of the Wyckoff Cycle for quite a while now, which provides an insightful outlook on the likely behaviour of the price action in the near future. Following the completion of the last Markdown, the pair went on to start establishing the current Accumulation range. Its existence is confirmed by the ADX indicator, which has been threading below the crucial 25-point benchmark since the 14th of May. The development of a Hammer candle, which entails rising bullish pressure around the lower boundary of the Accumulation (at 1.20250), means that the price action has indeed bottomed out at the lower end of the Accumulation. Hence, the price of the USDCAD is now ready to head towards the range's upper boundary at 1.21350. Before it can do so, however, the price would have to break out above the 50-day MA (in green) and the 100-day MA (in blue).
Long
by Trendsharks
Triangle predicted dip to 30k-38k range in MARCH. What's next?Breakdown from ascending wedge, a bearish indicator, was flawlessly predicted in March. What's next? We are now in another triangle. This pattern is more of a tossup in terms of predicting breakout direction -- but since it's happened after a downward trend, it's also likely to break DOWN. Hate to break it to you the predictions of a dip back to 20k are realistic. That said, these are very easy and reliable patterns to follow. If we have a legitimate breakout to the good, we're headed back to the 50s. Come on, bulls -- do your thing!
COINBASE:BTCUSD
by notfadeavvay
Tesla Poised to Climb Towards $700.00The share price of Tesla seems poised to appreciate towards the psychologically significant resistance level at 700.00 over the med-term. The prominence of this level is derived from the fact that it is positioned remarkably close to the 23.6% Fibonacci retracement. The latest upswing originated from the 38.2 per cent Fibonacci. The reinvigorated bullish commitment stems from the fact that this rebound also occurred from the 200-day MA (in orange). Not only that, but the price action also appears to be developing a Double Bottom pattern, which entails mounting bullish pressure. However, market bulls should watch several key developments. First, the Stochastic RSI indicator indicates peaking buying pressure, which could potentially imply that the upswing may be interrupted soon. Moreover, the price action would also have difficulties in breaking out above the 50-day MA (in green) and the descending trend line (in red).
NASDAQ:TSLALong
by Trendsharks
Dogecoin is Not Out of the Doghouse Just Yet Dogecoin is currently trading in a downtrend, and traders should not hope for an immediate rebound. The price is likely to fall to 0.2000 (major support) at least one more time before it starts consolidating. Traders should only consider going long once there are clear indications that the price is ready to strengthen above this critical threshold. Those would involve consolidation of the kind represented on the chart - the establishment of higher lows.
BINANCEUS:DOGEUSD
by Trendsharks
1
Coinbase Levelling out set for rebound to $290It's a bit early to do a detiled analysis, yet there are a few signs that CoinBase is turning for the better. We can see the converging triangle coming to a head. Heiken Ashi Candles are signalling a turn for the better along with a stronger upward tangent, tightlyly held now with a marked reduction in Volume shown on this chart. Price should reach inflexion point by end of today, breaching the $270 mark and continuing toward $290 to $300 over the next 4 days as Volumes pick up in line with confidence of the rebound.
NASDAQ:COINLong
by lute
3
FED and BOJ's Policy Decisions to Jolt the USDJPY The Federal Reserve in the U.S. and the Bank of Japan have their April policy meetings taking place this week, which is likely to boost the underlying volatility currently observed on the USDJPY. At present, the price action is contained within the boundaries of a Descending Wedge, which is a type of pattern that typically entails the likely continuation of bullish price action (after the price breaks out above the Wedge's upper boundary). It is also interesting to note that the price action is currently consolidating around the 38.2% Fibonacci retracement level. The price action is likely to continue fluctuating between this pivotal support and the upper boundary of the Wedge in the near future before the eventual breakout takes place.
Long
by Trendsharks
FLMBUSD 4H Rebound - LongThis was a private idea of mine from some days ago that I wasn't confident enough to post yet. I looked at it today and the idea was quite close to what the current state of FLM is right now so here it is! FLMBUSD currently consolidating after a push towards 1.25. It is slowly declining towards 0.80. I'm feeling that it will rebound soon, reaching its previous ATH. FLM is an interesting coin and can be seen as a solid investment long term. It won't be the ultimate project in your portfolio, but can be an easy x2 on the long term. At the moment it is fairly undervalued and the project is still developing a lot. Da Hongfei, the founder of NEO, is personally involved in the project and FLM is the main DeFi solution on the NEO blockchain. Looking at similar projects we have: ETH - UNISWAP (7% of market cap of ethereum) BNB - PANCAKESWAP (4% of market cap of BNB) NEO - FLM (2.8% of market cap of NEO) QTUM - QISWAP Let me know in the comments what you guys think! Am I right or wrong? Either is fine so I can re-evaluate my long position :)
F
by Quaii
Will IGNIS fizzle or RE-IGNITE, watch 23 cents and find out!With various action centered around whole cent price points, IGNIS on the 4 hr chart looks to briefly consolidate, touch 23 cents and either shoot back up (setting fire to the rain) or make a small, minor correction back to the next whole cent number. WATCH THE REST OF THE DAY, maybe you can get in on the next spike. Watch volume to see if the rebound is real or just a low-energy rebound. Remember if trading is stressing you out, invest in a hammock. Trading is always more relaxing in a hammock.. Just saying..
I
by Ifyouonlyknew
1
🔥 COTI Rebound: Added To Binance FuturesLast night COTI announced that they will be added to Binance futures with leverage up to 25x. This trade expands on this fact. First of all, there's the minor sell-off that happened last night. As of now, it seems that both BTC and the rest of the crypto's are rebounding and going back up. COTI seems like a proper candidate for strong gains since investors can finally make big short term bets by using leverage. Leverage increases the intensity of both bullish and bearish moves. Since the outlook is bullish, I'm expecting great things! Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power. On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs/lows and round numbers. Do your own due diligence. Happy trading!
Long
by FieryTrading
19
OMG/USDT Found support to fight backOMG dropped strongly after reaching its previous ATH. Finally we found a horizontal support line as well as a rising support line (Yellow). OMG will make its way and rise again to crush its ATH. Enjoy the ride and don't be too greedy. If you like the content, please like, comment and give this channel a follow. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. Helplines: - Purple lines are trendlines we take a look at. - Yellow lines are for visual help only.
OLong
by tumbler55
1
Convergences and a significant retestADA is currently settling down after trending hard all day. ADA broke out of a relatively tight channel today and slightly over shot my price target of 1.049usd. Currently ADA is retesting the broad support area that it has been able to rubber band back into every time it has broke it as of late. This time however price has not rebounded with the same momentum. I expect a rebound if price can close hourly and higher above this area.
KRAKEN:ADAUSD
by zac_destroys_all
12