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Relative Strength Index (RSI)

USD/JPY Forex Analysis: Key Levels and Trading Opportunities✨Welcome to my channel! Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the USD/JPY Forex pair. ⌛️ Weekly Timeframe In this timeframe, USD/JPY has shown significant movements. Recently, it saw an upward trend reaching a peak of 161.384, which was a critical resistance zone. Following this, the price entered a correction phase with lower volume, suggesting the strength of the previous upward trend. Currently, USD/JPY is at a support level of 151.341 after a correction phase. 📈 If USD/JPY stabilizes above 161.384, we can anticipate a bullish momentum potentially pushing the price towards the next resistance at 170.000. Confirmation of a new upward trend will depend on candle stability above this level. 📉 Conversely, if USD/JPY falls back into the range between 151.341 and 161.384, and stabilizes below 151.341, it indicates a bearish trend continuation. The next critical support level would be around 140.894. 📊 In both scenarios, volume analysis is crucial. A healthy trend should be supported by corresponding volume without any divergence. ⌛️Daily Timeframe 🔍 On the daily chart, USD/JPY ranged around the 161.616 level before initiating another downward wave. Currently, there is noticeable bearish momentum, and the price has found temporary support at 154.814. 🧲 Given the current setup, a stabilization below 154.814 could signal another bearish wave. On the flip side, if the price moves above 161.616, it could indicate the start of a bullish trend, targeting higher resistance levels. ⌛️4-Hour Timeframe 📈 In the 4-hour timeframe, USD/JPY has pulled back to the SMA99 and reached the resistance at 157.746. Volume analysis shows a decrease, indicating potential exhaustion of the recent upward movement. 📉 For short positions, the key levels to watch are 157.746 and 159.188, where price reactions could provide better entry points. For long positions, critical levels are 154.740 and 152.200. 💥RSI Oscillator The RSI is currently ranging between 40.38 and 57.16 on different timeframes. Breaking these levels could provide confirmation for opening positions. However, always use these levels in conjunction with candle patterns and volume analysis to find the best entry and exit points. 📉Summary Given the current bearish signals in the daily and 4-hour timeframes, alongside the potential trend change in the weekly timeframe, I am inclined to open a short position. However, this is based on my trading strategy. Each trader should base their decisions on their strategies and risk management plans. ⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a pair you'd like me to analyze next.
by itsparham96
1
Bottom Fishing - TATASTEEL📊 Script: TATASTEEL 📊 Sector: Steel 📊 Industry: Steel - Large Key highlights: 💡⚡ 📈 Right now RSI is trading at 32 stock came out of oversold zone, one can go for Bottom Fishing. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 160 🟢 Target 🎯🏆 - 174 ⚠️ Stoploss ☠️🚫 - 151 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:TATASTEELLong
by radha_23
1
ALGO Analysis: Identifying Key Levels✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the ALGO coin in the crypto market. 🗂 About the Project: ALGO is a blockchain-based project with its own ecosystem and blockchain. It is one of the popular networks for DeFi enthusiasts, and if you're interested in this space, you're probably familiar with this blockchain. ⌛️ Weekly Timeframe In this timeframe, ALGO experienced a significant downward movement, currently stabilizing around $0.1572. The price has tested the $0.1547 support level multiple times. The volume has been fluctuating, showing signs of both accumulation and distribution phases. 📈 If the price is supported and candles stabilize above the $0.1547 area, we can confirm that the price trend has potential for a bullish reversal. The main resistance for confirming an upward trend is at $0.2808. For ALGO to have a significant pump, the price must stabilize above this area, allowing you to enter a buying position according to your trading strategy after confirmation. 📉 If the price returns below $0.1547, the next significant support is at $0.0992, indicating a continuation of the bearish trend. 📊 In both scenarios, candle volume must confirm the price movement, and there should be no volume divergence; otherwise, the trend will not be healthy. ⌛️ Daily Timeframe In this timeframe, you can see more details of the price movement. As indicated, the price ranged for a long period on the $0.1502 support and, after a breakout and pullback, initiated another downward wave to the $0.1297 area. Currently, there is significant bearish momentum in this timeframe, and the volume aligns perfectly with the downward trend. Given the strong support at $0.1502, we can expect another bearish wave if candles stabilize below this area. ⌛️ 4-Hour Timeframe In this timeframe, the price has pulled back to the $0.1605 resistance. Volume is gradually decreasing, indicating that the long-term downward trend impacts the 4-hour timeframe. This upward movement offers a potential entry point for a short position. 🔑 Key Levels: For a long position, the key levels are $0.1716, $0.1989. For a short position, $0.1502, and $0.1297 are critical areas where the price may react in the future. 💥 RSI Oscillator: The RSI is ranging between 45.73 and 51.84, and breaking either of these levels can provide confirmation for opening positions. However, be sure to use these levels only for confirmation and rely on candles to find the trigger. 🎲 My Strategy: Given the bearish market in the 4-hour and daily timeframes and the potential trend change in the weekly timeframe, I prefer to open a short position on this coin as I always trade in the direction of the momentum. However, there's no necessity for you to do the same; everyone should trade based on their strategy and plan. This is a personal decision, and each trader must find their strategy. ⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
AVAX Analysis: Potential Price Movement and Key Levels✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the AVAX coin in the crypto market. 🗂 About the Project: AVAX, or Avalanche, is a decentralized platform known for its high throughput and low latency, making it a preferred choice for developers building decentralized applications and custom blockchain networks. It's particularly popular among DeFi enthusiasts due to its unique consensus mechanism and scalability. ⌛️Weekly Timeframe In this timeframe, AVAX has experienced significant movements. Recently, it saw an upward trend reaching a peak of 126.52, which was a critical supply zone. Following this, the price entered a correction phase with lower volume, suggesting the strength of the previous upward trend. Currently, AVAX is at a support level of 20.83 after a correction phase. 📈 If AVAX stabilizes above 31.32, we can anticipate a bullish momentum potentially pushing the price towards the next resistance at 58.74. Confirmation of a new upward trend will depend on candle stability above this level. 📉 Conversely, if AVAX falls back into the range between 20.83 and 31.32, and stabilizes below 20.83, it indicates a bearish trend continuation. The next critical support level would be around 15.91. 📊In both scenarios, volume analysis is crucial. A healthy trend should be supported by corresponding volume without any divergence. ⌛️Daily Timeframe 🔍On the daily chart, AVAX ranged around the 31.22 level before initiating another downward wave. Currently, there is noticeable bearish momentum, and the price has found temporary support at 21.49. 🧲Given the current setup, a stabilization below 21.49 could signal another bearish wave. On the flip side, if the price moves above 31.22, it could indicate the start of a bullish trend, targeting higher resistance levels. ⌛️4-Hour Timeframe 📈In the 4-hour timeframe, AVAX has pulled back to the SMA99 and reached the resistance at 30.98. Volume analysis shows a decrease, indicating potential exhaustion of the recent upward movement. 📉For short positions, the key levels to watch are 30.98 and 33.77, where price reactions could provide better entry points. For long positions, critical levels are 25.01 and 21.49. RSI Oscillator 💥The RSI is currently ranging between 44.87 and 59.76 on different timeframes. Breaking these levels could provide confirmation for opening positions. However, always use these levels in conjunction with candle patterns and volume analysis to find the best entry and exit points. 📉Given the current bearish signals in the daily and 4-hour timeframes, alongside the potential trend change in the weekly timeframe, I am inclined to open a short position. However, this is based on my trading strategy. Each trader should base their decisions on their strategies and risk management plans. ⚠️Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
3
REN: Exploring Trends and Key Levels in the Crypto Market✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the REN coin in the crypto market. 🗂 About the Project: REN is a protocol that enables the transfer of cryptocurrencies between different blockchains in a decentralized manner. It aims to bring interoperability to DeFi by providing access to liquidity from various blockchains for DeFi applications. ⌛️ Daily Timeframe 🔍In this timeframe, the price has been ranging for a long period around the $0.04996 support. 📊Support and Resistance Levels: Resistance: $0.05060, $0.05696 Support: $0.04442, $0.03936 💥The RSI is around 54.25, indicating neither overbought nor oversold conditions. 🧩Currently, there is significant bearish momentum in this timeframe, and the volume aligns perfectly with the downward trend. Recommendation: Given the strong support at $0.04442, we can expect another bearish wave if candles stabilize below this area. ⌛️ 4-Hour Timeframe 📈In this timeframe, the price has pulled back to the SMA99 and simultaneously reached the critical $0.04960 resistance, which was the main market low in the previous cycle. The volume is gradually decreasing, indicating that the long-term downward trend impacts the 4-hour timeframe. 🔑Key Levels: For a long position, the key levels are $0.04960, $0.05060, and $0.05696. For a short position, $0.04442 and $0.04500 are critical areas where the price may react in the future. 🎲RSI Oscillator: The RSI is ranging between 39.81 and 54.34, and breaking either of these levels can provide confirmation for opening positions. However, be sure to use these levels only for confirmation and rely on candles to find the trigger. ♟Recommendation: This upward movement offers a better entry point for a short position. Given the bearish market in the 4-hour and daily timeframes and the potential trend change in the weekly timeframe, consider opening a short position as the trend aligns with the momentum. ⚠️Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
R
by itsparham96
1
Could AUD/USD be getting ready to visit .6850?? - AUHere I have AUD/USD on the Daily Chart! Since price last visited the 2023/2024 Fall Support Zone making a Divergent Low @ .63623 , it has continued to move higher finding Support at a Local Support Zone! After this we see a New High @ .67141! Using the Fib Tool from Divergent Low to New High, we are given a Fib Entry Zone where Price has already corrected too! Currently, we see price is now struggling with the Fib Kill Zone! -All this Price Action is happening just under a Falling Resistance and with this much built up pressure I believe we could see price make quite a move to the UPSIDE!!! At Market Open, Price had opened WAYY above our Falling Resistance making a GAP to FILL and price has already done that! -Price now is also trading ABOVE the 200 EMA -If price can continue to stay above the Kill Zone, I believe it will have a good chance at Breaking the Local Resistance Zone and then onto the Dec. 2023 Resistance Zone @ .6850 Levels
Long
by Novi_Fibonacci
2
GBPNZD - Potential Perfect StormTaking a look at RSI on the 1 hour timeframe, it's obvious we are getting some bearish divergence after a strong week long rally. This strong bullish price action was attributed to the RBNZ interest rate decesion last week where interest rates were left unchanges at 5.50% However, later today we get the latest CPI data from New Zealand followed by UK's CPI data a few hours later. Could this be a potential perfect storm where New Zealand will show a surprise to the upside followed by a surprise to the downside with the UK? If that happens, I would expect this ascending support trendline to break opening the doors for a reversal. Time will tell but early clues are beginning to develop on the 1 hour timeframe with RSI. That's it - That's all Trade Safe.
Short
by Michael_Harding
BITCOIN LINE IN THE SAND BTC has lost the 1D 200 EMA for the first time this year which is a major TA trend Indicator. On the daily timeframe we can see a clean breakthrough below on the first touch since October of last year, which initially is surprising as this level is seen as key support for keeping a bullmarket going. Now that BTC has fallen under the moving average we've seen attempts at breaking back above for the last 3 days in a row, and with FED chair Powell set to testify today and tomorrow along with CPI &PPI on Thursday and Friday respectively. It's quite a FED heavy week with can bring volatility to the market. The ETH ETF is rumoured to begin trading next Monday (15th July) which could be the catalyst to get both BTC & ETH back above their 1D 200 EMA's. For now the general worry is that the selling pressure caused by the German Government and Mt. Gox is what is dragging price down. However, yesterday recorded a net inflow of $295m for the Bitcoin spot ETFs, the most in 21 days which suggest there are buyers looking to absorb those Bitcoins that are being offloaded. I am still a little confused as to why the German Government have decided to market sell through an exchange instead of any OTC transactions, perhaps it's a play to shake out weak hands and make retail panic? The FA is always complicated but I still believe that the bearish factors are more short term when compared to all the bullish more long term factors. Short term market selling vs long term supply shock caused by the halving, institutional investors and ETFs buying, US election and rate cuts. CPI & PPI can be volatile news events for the market, I think it could be one of these events that could be a catalyst to reclaim the 1D 200 EMA, we've seen a full reset of the RSI since the rally of earlier this year. Historically these are all good long term entry criteria.
BITSTAMP:BTCUSD
by ProR35
Multiple Indicator - TRIVENI📊 Script: TRIVENI 📊 Sector: Sugar 📊 Industry: Sugar Key highlights: 💡⚡ 📈 Script is trading at upper band of BB and giving breakout of it. 📈 MACD is giving crossover . 📈 Double Moving Averages are giving crossover. 📈 Right now RSI is around 71. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 426 🟢 Target 🎯🏆 - 451 ⚠️ Stoploss ☠️🚫 - 416 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:TRIVENILong
by radha_23
1
XRP - Increase Possible after THIS LEVELXRP - it's possible that the bottom may be near, and we're going to use a technical indicator to look for the bottom. It should be noted that I am NOT a fan of XRP BUT, I understand tat all coins are tradable despite whether or not I like them. So let's dive into the SIGNS of the times: Looking at the RSI below the chart, historically XRP bottoms are close when the RSI hit's the yellow line (34). It could trade lower for a few ore weeks to come, but ultimately this low RSI signals the bottom is either in or close. It is also worth noting that the M-Pattern should be finished playing out, or close to finished: Either way, if you MUST trade XRP, buy low and sell high. Bag holders gets burnt! ____________________________ BINANCE:XRPUSDT
by CryptoCheck-
Deep Dive into ENS: Full Review of the Project and ENS V2📅 Let's move on to today's analysis. Today, I want to analyze the ENS coin, which is part of the Ethereum ecosystem. With this project, you can buy a domain for your wallet. 🗂 ENS v2 Update : Recently, ENS published an article and introduced the v2 update of the project, announcing that they have added a series of new features to their platform. By collaborating with L2 projects, they aim to reduce fees, increase flexibility, utilize multi-chain capabilities, and make their service more accessible, user-friendly, and cost-effective for everyone, playing a more significant role in the web3 space. ⚙️ How the Project Works : Let's dive deeper into the project and visit its website. The first image you see on the site is a very beautiful landing page. By clicking on "Launch App," you can enter the main space of the platform. 🧩 After launching the app, you need to connect your wallet to the site and search for your desired ID in the search bar. If the domain is available, you can purchase it. If it is registered, it means someone else has already bought it before you. As you can see in the example I searched for, "parham96.eth" has already been registered, but "parham96.box" is still available and hasn't been purchased yet. 🛍 After finding your desired domain, you need to confirm the transaction sent to your wallet. Currently, the cost of this operation, considering the Ethereum network fee, is about $6 for a one-year subscription. According to the project, after the v2 update, these costs will be lower. 🎈 After purchasing, to access the details of your purchased domain, click on the "My Names" section (I prefer not to show you an image of this section due to the privacy of my wallet). You can: 👤 Add a profile picture for your wallet, write a bio, and connect your social media accounts from the profile section. ⚡️ Add another address to your domain from the record section. 🎲 Change the owner of the domain or renew it from the ownership section. 🌐 Create a subdomain for yourself just like websites from the Subname section. ⚓️ Use the permission and more sections to apply other desired settings to your purchased domain. 🌱 Usefulness of the Domain : For example, the "parham96.eth" domain is mine. In this case, I don't need to send my wallet address to someone who wants to transfer to me for each transaction. Just replacing the destination wallet address with the "parham96.eth" phrase will direct the funds to the same wallet. If you search for this domain on Etherscan, you can see it is registered on the blockchain and that the ownership of the domain is also viewable as an NFT in your wallet. 🔄 Renewing the Domain: Click on "Extend," then click "Next," followed by "Open Wallet" to create a transaction. Confirm the transaction through your wallet to renew the domain. ✨ ENS Coin : The ENS project also has a very well-known coin named ENS, which is among the top 100 coins in the market with an $800 million market cap. It is listed on all reputable exchanges, making it a successful project that can achieve even greater success with the launch of ENS V2. 🔍 Technical Analysis : In the daily timeframe, after the price reached a peak of 27.61, the market entered a range, with the price oscillating between 16.58 and 27.61. Following Bitcoin's significant drop, this coin also dropped to the 12.24 area. However, with the announcement of ENS V2 and collaboration with L2 projects, it started an upward movement and returned to the 27.61 area, even briefly breaking this level before returning below it in a fake breakout. 💥 Current Momentum : The price currently lacks momentum. After the fake breakout, there should have been a bearish momentum, but nothing has happened, and the market is still ranging. 📊 Volume Analysis : The volume clearly supports the buyers, as the buying volumes significantly exceed the selling volumes. In the recent bullish candles, the selling volume has significantly decreased. 🧲 Indicators : Due to the ranging market and lack of momentum, I am not using SMAs. However, a break below 43.36 on the RSI would confirm bearish momentum entering the market. 🛒 Long Position : The price has tested the 27.61 resistance six times so far, with increasing buying volume. Given the positive sentiment around ENS V2, it is possible that a few days before the launch, the price will stabilize above this level with a large bullish candle, leaving many behind. 🛎 Short Position : On the other hand, buyers may lose interest in breaking this resistance after six attempts, allowing sellers to enter the market and push the price down. ⚖️ Investment Strategy : If you believe ENS is a good project and that ENS V2 can generate bullish momentum in the market, consider adding this coin to your portfolio and purchasing it according to your strategy. 🎯 Target Prices: If the project succeeds and gains more hype, the initial target prices are 38.10 and 49.27, with the next target being the ATH of 75.80. 👨‍💻 Futures Trading : 📈 For a long position, a candle close above 27.61 in the 4-hour timeframe can confirm an upward trend. You can look for an entry trigger in the lower timeframes like 1-hour, with a target of 32.83. 📉 For a short position, a break below 23.30 and a candle close beneath this level can confirm a downward trend, with a target of 18.94. ♟ Personally, I will try to open a long position on this coin once the price stabilizes above 27.61. For short positions, I prefer to trade a coin with negative news and lacking a strong upward trend like ENS. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
Long
by itsparham96
2
GBPUSD & DXY Forex Update: Key Triggers and Market Insights📅 Today, we're diving into the Forex market, specifically analyzing the GBPUSD pair. Previously, we examined this pair on the weekly time frame, and now I’ll provide an update with new entry points marked on the chart. 🔄 Weekly Time Frame Analysis In our previous analysis, we identified 1.28019 as the first long trigger on the weekly chart. The price has since stabilized above this level and even activated the 59.01 trigger on the RSI. As mentioned before, the next target is 1.31921, and with a 230-pip distance, this level can offer a significant profit to those who entered long positions following the breakout. 🧲 Curved Trend Line We also have a curved trend line in this area, which can inject substantial momentum into the market and push the price upwards. If this trend line breaks, we can expect a trend reversal and a potential downward move. 📊 Trend Health Check Checking the health of the trend, we notice that each successive bullish wave has weakened while the red candles remain powerful. However, the RSI shows no signs of trend weakness or divergence, and the price has managed to create a higher high. Thus, despite the weakened upward trend, the price has managed to start a robust new trend and cover its previous weaknesses. 📈 Target and Rest Period Upon reaching 1.31921, the price will likely take a rest before creating new market structures, allowing us to find new triggers for decisions. If this area breaks, the next target on the weekly chart is 1.36736. 📉 Bearish Scenario If the price reverses the entire recent upward move and breaks the curved trend line, activating the 1.26262 trigger, we can expect a downward movement. The main trigger is 1.23585, with targets at 1.20909 and 1.18253. 📅 Daily Time Frame Analysis Let's examine the daily time frame to observe price behavior in more detail. After multiple tests of the 1.28019 resistance, the price finally stabilized above it, driven significantly by the recent US CPI news which weakened the US dollar, causing pairs against the dollar to rise. 📰 US CPI Impact The US CPI report showed a decrease in inflation, causing the DXY to drop. Lower inflation reduces investment appeal in the country, leading to a weaker currency. As the dollar weakens, pairs like GBPUSD rise. 💣 RSI and Momentum The RSI has entered the overbought (OB) zone, indicating strong bullish momentum in the market. The price hasn't taken a break, showing only one red candle in the last 12 and forming no structures for a clear trigger. 🎈 SMA99 As previously mentioned, the SMA99 acts like a black hole, pulling prices towards it if they move too far away. Currently, the price isn't too far from the SMA99, suggesting more upward movement potential. However, if it moves too far, the SMA99's "black hole" effect could come into play. 📈 Long Position Strategy For a long position in this time frame, we should wait for the price to form a new structure. We could also look at lower time frames like 4-hour or 1-hour charts to find suitable long triggers. In this time frame, patience is key before opening a long position. 📉 Short Position Strategy The short position trigger remains the same as on the weekly chart. We need to wait for the curved trend line to break and activate the 1.26262 or 1.23585 triggers. 🔍 DXY Chart Analysis The DXY chart on the daily time frame shows a large ascending triangle, with a previous false breakout and a move back up from the 100.883 support. The recent upward move failed to reach the 107.017 resistance and turned back from 106.338, a strong supply area making it difficult for the price to stabilize above this range. 🔫 Short-Term DXY View On a smaller scale, the DXY has a ranging box between 104.039 and 106.338. The recent upward move couldn’t reach the box ceiling, and with the main ceiling at 107.017, this confirms significant upward trend weakness. 🪓 RSI Confirmation A drop below 38.71 in the RSI confirms the entry of bearish momentum into the market. If the price breaks the ascending trend line and stabilizes below 104.039, downward momentum will drive the market. 📰 Fundamental Weakness in USD As highlighted in the GBPUSD analysis, the USD is weakening fundamentally, adding another layer of confirmation for a potential DXY decline. 🎯 DXY Targets The initial target for a DXY drop is 102.688, with a second target at 100.883. Upon reaching these targets, the price will likely range for an extended period, forming a new structure for either a drop or a rise. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
Long
by itsparham96
1
Bitcoin: Exploring Long-Term and Short-Term Scenarios📅 Let's dive into today's analysis, focusing on Bitcoin in the 1D time frame to examine both long-term and short-term scenarios. 🔍 Daily Time Frame Analysis Bitcoin has experienced a decline after breaking the support at 60303, producing a large, high-volume candle and also breaking the 58429 level. However, it has not yet managed to stabilize below this area and is currently in a resting phase. ⌛️ Recent Market Behavior Not much time has passed since the last analysis, and as predicted, after the selloff candle, the market entered a ranging phase with reduced volatility. This has indeed occurred, with volume decreasing during the ranging market. The long upper shadows on recent candles indicate that sellers have the upper hand and bearish momentum is present. 🧲 SMA25 Analysis The SMA25 indicator had moved away from the candles, contributing to the market's ranging and pullback behavior. One of the properties of moving averages is that they attract the price towards themselves like a black hole, or the price ranges until the moving average reaches it. As the SMA25 approaches the candles, we can expect new bearish momentum to enter the market. If the price stabilizes above this moving average, the trend could potentially become bullish again. Confirmation of this breakout would be with a candle stabilizing above 60303. 📊 Volume Analysis The volume is strongly confirming the trend. During declines, the volume increases, and during upward corrections, the volume decreases. This indicates that the volume is converging with the Medium Wave Cycle (MWC) trend and could also influence the High Wave Cycle (HWC) trend. 📈 Bullish Confirmation Relying solely on SMA for bullish confirmation is not very reliable due to its high error rate. From a price action perspective, if we want to confirm a bullish market, we can expect the price to move upwards with stabilization above the 63018 area. The target for this move could be the next resistance at 71607. Breaking 45.39 in the RSI can also confirm this upward breakout. 📉 Bearish Scenarios In case of further market decline, there is a significant support around the 55k area, which is more visible in the 4-hour time frame and coincides with the 0.5 Fibonacci level. If this area is broken, we can expect the price to move at least to the 0.618 area, which is a logical target from a price action perspective and lies between 50k and 53k. This is a very important area that can prevent further price decline. The last support is at 46969, and if the price stabilizes below this support, the HWC trend in Bitcoin will change from bullish to bearish. 🛒 Buying Strategy in Spot For buying Bitcoin in the spot market, it is better to wait until buying volume enters the market and the price stabilizes above 63471. This assumes the price moves upwards without creating a ranging box for buying. If the price ranges in the current area, we can buy upon breaking the range ceiling. If the price starts to decline, we can buy spot with confirmation from candles in the 50k or 46k areas. Be sure to manage your capital and set stop-losses to limit potential losses if the market declines further. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a coin you'd like me to analyze next.
Short
by itsparham96
This Bitcoin signal has a 71% winrate.This signal purely based on RSI happened only 7 times on the daily chart history of BTCUSD. The formula is the following: RSI is at the 50 days lowest and is rising for 3 bars, and is lower than the 160 days RSI with 5 (as RSI value) added and RSI is below 37.5 Signal history: 3 April 2014: 46% move up 18 August 2014: fail 16 June 2018: 30% move up 27 November 2018: +200% move up 22 May 2021: 80% move up 13 December 2021: fail 26 August 2023: 173% move up Total Winners * 100 / Total Trades = 5 * 100 / 7 = 71.4% Winrate Average winning trade: +105.8% Important Note: The rarity of the signal (only 7 times) induces that a small amount of backtest data, and should not be used as sole indicator in your trading.
BITSTAMP:BTCUSDLong
by cyatophilum
Potential Short Opportunity for BTC/USD at $61,000Overview: In this analysis, I present a short trade setup for BTC/USD with an entry point around $61,000. This idea is based on the confluence of volume profile levels and Fibonacci retracement zones. Volume Profile Analysis: The volume profile indicates significant trading activity around the $61,000 level, which suggests it as a strong resistance zone. This implies that there may be considerable selling pressure once the price reaches this level. Fibonacci Retracement: Applying the Fibonacci retracement from the swing high to the recent swing low, the 0.618 retracement level aligns closely with the $61,000 mark. This confluence adds strength to the resistance at this level, providing a high-probability short entry. RSI and ADX Indicators: The Relative Strength Index (RSI) is currently showing bearish divergence, indicating a potential reversal or pullback. The Average Directional Index (ADX) is at a high level, suggesting a strong trend which could soon see a correction. Trade Setup: Entry : Short at $61,000 Stop Loss : Above the $62,500 level to allow some room for potential volatility. Target : First target at $56,000 (next significant volume node), second target at $50,000 (support zone and 1.618 Fibonacci extension). Conclusion: This trade setup leverages technical analysis tools to identify a high-probability short entry point. As always, ensure proper risk management and adjust the trade parameters based on market conditions.
Short
by wittawatkhondee55
2
USDCAD 1D Analysis: Anticipating a Breakout📅 Let's dive into today's analysis. We'll be focusing on the USDCAD pair in the 1D time frame. ⌛️ Long-term Range Box In the 1D time frame, we observe a large, long-term range box that spans 664 days. This box has experienced a complete High Wave Cycle (HWC) range, which is confirmed by the flat SMA99, indicating minimal slope and nearly flat movement over a long period. ♟ Key Levels Range Box Bottom: 1.31434 Range Box Top: 1.38725 Breaking either of these lines will likely initiate a new trend for the HWC. Medium Wave Cycle (MWC) Support: 1.35973 MWC Resistance: 1.37805 🪤 Momentum Indicators As discussed in yesterday’s analysis, momentum oscillators like RSI are less effective in range-bound markets. In this case, although the RSI broke the 43.14 support, the market did not gain bearish momentum because of the ranging condition. This exemplifies why RSI should not be heavily relied upon in such scenarios. 📉 Bearish Scenario If a candle closes below the 1.35973 area, we can expect the price to move towards the bottom of the range box at 1.31434. This support is crucial and could push the price back to the top of the range. 📈 Bullish Scenario Conversely, if the price breaks above 1.37805, it may move towards the top of the box at 1.38725. However, this move is less likely due to the weakness observed in the green candles, indicating weaker buyer strength. 🔍 Candle Analysis Examining the candles shows that reaching the top of the range box takes significant time, with small green candles. Conversely, reaching the bottom of the box from the top happens quickly with strong red candles. Given the weak green candles in the latest upward move that didn't even reach the top of the box, the likelihood of a downward breakout is higher. 🎯 Target Levels In case of a downward breakout, switching to the weekly time frame helps identify important levels: First Target: 1.30183 (0.5 Fibonacci level) Second Target: 1.27624 Third Target: 1.22926 (a very significant support for this pair) 📝 Conclusion The USDCAD pair is currently trading within a long-term range, showing weak buyer momentum and stronger bearish tendencies. A breakout from this range, particularly to the downside, seems more probable given the current market conditions. Traders should watch key levels closely for confirmation and be ready to act accordingly once a breakout occurs. 🧠💼 Always remember that trading futures involves inherent risks, and improper risk management can lead to margin calls. Stick to your capital management principles and use stop-loss orders, aiming for an initial risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please like and share this analysis. Feel free to leave your comments or suggest a pair you'd like me to analyze next.
Short
by itsparham96
1
Bitcoin ALL-TIME-HIGH is STILL COMING: Here's WhyA hint... the RSI. The RSI is one of those reliable old-timers, especially useful in higher timeframes to determine longer period price action, such as near term and long term. Together with Elliot Wave Theory, I'm going to present to you an argument for why Bitcoin is STILL BULLISH and what my strategy/expectation is for the coming weeks. I'll also share key metrics to watch and do regular updates should the conditions mentioned in the video be met. Although I am short term bearish, I remain longer term bullish, making it really impossible to label this post as solely "short" or "long". Cheers to the Top10%'ers 🥂 __________________________ BINANCE:BTCUSDT
by CryptoCheck-
1
Has EUR/USD Bottomed-Out???Here I have EUR/USD on the 4Hr Chart! Now we see Price on EU has made a sort of "Rounded Bottom" making its official LOW @ 1.06660 Now with Price struggling with the Resistance Zone @ ( 1.08441 - 1.08266 ) it is beginning to form what looks to be a Potential CUP & HANDLE PATTERN!! This pattern after the completion of the "Bowl" is typically followed by the formation of the "Handle". This will be considered a HIGHER LOW which should be followed by Bullish momentum to the Top of the Cup (Resistance Zone) again, then to BREAK and possibly continue HIGHER!! -The RSI is showing that price is Over-Bought which tells me we could see price needing to make a decline! -Strengthening the Bullish Bias on this idea is also backed by the fact price is now trading ABOVE the 200 EMA! *Before we can confirm this is a Cup & Handle Pattern, we must see Price make a retracement from this High to the ( 1.07751 - 1.07647 ) Range for potential BUY positions! **If Price decides to Break Below our Fib Entry Zone, The potential Cup and Handle Pattern will be INVALIDATED!!
Long
by Novi_Fibonacci
GBP/USD : Key Levels and Trading Strategies for Upcoming Moves📅 Let's get into today's analysis. I've decided to focus more on Forex analyses, and today we're analyzing the GBP/USD pair with the main timeframe being weekly. I'll be looking at the chart solely from a technical analysis perspective. 🔍 In the weekly timeframe, as you can see, after breaking the 1.31915 resistance level, bullish momentum entered the market, and we managed to move up to the 1.42385 resistance level. After this sharp upward movement, the market entered a correction phase and corrected down to 1.20670. Currently, the price is ranging between the 0.382 Fibonacci level and the 1.31915 resistance. I believe that until the SMA99 reaches the price, new bullish momentum could enter the market, and you can confirm this momentum by a break above 1.31915. If the candle closes below the 0.382 Fibonacci level, we might move down to the Golden Zone of Fibonacci, which lies between 0.5 and 0.618. 🧩 There is also a minor trend line that the price has reacted to three times so far, which could be a key determinant for future price movements. 🧲 Regarding the SMA99, it has the property of creating significant distances when the market is trending. However, it eventually acts like a black hole, pulling the price towards it. This is happening after the rejection at 1.42385, and I believe the price will range until it meets the SMA99. Additionally, this SMA acts as a support and resistance level, potentially supporting the price once it reaches it and pushing the price upward. 📈 For a long position on the weekly timeframe, it seems appropriate to wait for a break of the trend line and a confirmation above the 1.31915 area. The target for this move, based on Fibonacci extension, could be 1.42385. However, this target is quite high, and if the price aims to reach it, it will likely be a long-term move. 📉 For a short position, breaking below 1.20670 serves as a good trigger. If the price stabilizes below this level, it might move down to the area between 0.5 and 0.618 Fibonacci levels. This position is quite risky as the High Wave Cycle for GBP/USD is bullish, and this move in the Low Wave Cycle could be filled with noise. 📈 For shorter-term positions, it's better to look at the 4-hour timeframe. In this timeframe, we have a long-term range box and a significant support area at the 0.382 Fibonacci level on the weekly chart. There’s no need to extend the analysis here; I’ll just discuss the entry triggers. 📈 For long positions, we have three different triggers. The first trigger is at 1.2776, which is the riskiest one with a target of 1.31915. The next trigger is at 1.31915 with a target of 1.42385. The final trigger is at 1.42385. 📉 For short positions, there's a very risky position with a trigger at 1.2615, and the second trigger is the break of the support area. ♟ Now, let me explain how I personally trade with each trigger. For the long trigger at 1.2776, I open positions in lower timeframes such as the 1-hour chart and set a small stop loss to quickly reach a risk-reward ratio of 2, which is my first target, with minimal risk. For the 1.31915 trigger, I open a position with normal risk and a regular stop loss size. For the 1.42385 trigger, I open a position with a larger stop loss because the trigger is at an all-time high (ATH) and represents a very strong supply zone. For short positions, I do not open any until the price stabilizes below the support area. 📝 In summary, GBP/USD is currently in a ranging phase between the 0.382 Fibonacci level and the 1.31915 resistance level. Depending on the break above 1.31915 or below 1.20670, there are opportunities for long or short positions, respectively. For those trading in shorter timeframes, key entry triggers and careful risk management are essential to navigate the market effectively. 🧠💼 Always remember the inherent risks in Forex trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a pair you'd like me to analyze next.
by itsparham96
5