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Bitcoin's ATH Struggle: Eyeing a Retest of 59K Ahead HalvingAs Bitcoin grapples with momentum after reaching a new all-time high (ATH), the approaching halving event casts a spotlight on significant price levels that could dictate the market's next big move. With the bulls facing resistance in pushing beyond the ATH, a retest of the 59K support seems increasingly plausible. The 59K level is the immediate support that may come into play as the market digests its recent gains. This region is pivotal; holding above it might reaffirm buyer strength, while a break below could indicate a shift in market sentiment, prompting a reevaluation of bullish commitments. In the event of a breakdown beneath 59K, the lower support box emerges as the primary area for potential re-accumulation. This zone, highlighted by previous consolidations, may offer a strategic entry point for traders looking to buy the dip, anticipating a resurgence in buying pressure post-halving. Investors and traders should be prepared for this potential scenario by considering the 59K level as an initial barrier for defense and the lower box as a second line of support. A successful retest of these areas could well be the precursor to the next leg up, as past halving events have often preceded significant upward trends. Maintaining vigilance around these key levels is crucial as the halving approaches. It's advisable to have a clear risk management strategy, with well-defined entries and exits, to take advantage of the opportunities that the retest of 59K and the lower support box might present in this dynamic landscape.
BYBIT:BTCUSD.P
by Oak_the_trader
1
ALGO's wave 5 could gain some significant ground here soon!ALGO has been doing very well the past month or so, and is looking to do even better here shortly. The current wave 5 is generally the most explosive, and largest gaining. Although, the price action looks like it could potentially drop closer to the lower trend line (white line). This line has held very well so far since this uptrend started, and the wave pattern will continue to stand as long as the price action doesn't drop below the wave one high. If the wave 5 plays out properly we could easily see ALGO run into the mid .40's. Good luck, and always use a stop-loss!
BINANCE:ALGOUSDLong
by MetaShackle
Ethereum: Bullish Reversal Confirmed !!!Ethereum (ETH) has been in a downtrend since November 2021. The price has been respecting the descending trendline and making lower highs and lower lows. However, the price recently broke out above the trendline and formed a three drives pattern. The descending trendline: The descending trendline is a bearish pattern that is characterized by two converging trendlines, one connecting lower highs and the other connecting higher lows. The price typically breaks down below the lower trendline, signaling a continuation of the downtrend. The three drives pattern: The three drives pattern is a bullish reversal pattern that is characterized by three consecutive rallies, with each rally being higher than the previous one. The pattern is confirmed when the price breaks out above the resistance level. The breakout: The price broke out above the descending trendline on March 14, 2023. This breakout was confirmed by the three drives pattern. The retest: The price has since retested the broken trendline and held. This retest confirms the bullish reversal and suggests that the price is likely to continue to rise in the near future. Bullish targets: The first bullish target is the $3,500 level, which is the top of the descending trendline. Further upside could see the price reach $4,000 or even higher. Conclusion: The Ethereum chart shows a bullish pattern. The price has broken out of a descending trendline and formed a three drives pattern. This suggests that the price is likely to continue to rise in the near future. Investors should always do their own research before investing in any cryptocurrency.
Long
by Yaroslav_Krasko
RUNE - Good Potential LONG trade#RUNE/USDT #Analysis Description --------------------------------------------------------------- + RUNE has unmistakably breached the resistance and is currently consolidating within a defined range. + The successful retest of the price reinforces the bullish sentiment, indicating a potential continuation of the upward trend. + With this in mind, I anticipate further price appreciation and am initiating a long trade with a risk allocation of 2% of the capital. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 9.05 Stop Loss: 6.75 ------------------------------ Target 1: 10.5 Target 2: 13.6 Target 3: 16.5 Target 4: 19.6 Target 5: 25.5 Target 6: 31.0 ------------------------------ Timeframe: 1D Capital Risk: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
GBPJPY SHORT IDEAAfter a good movement for the GBP there was a slightly bear movement in the last days of this week. There was one new small bear canal which has been forming during the last days. As the last candle from Friday 01.03.2024 was a bear with a significant movement for JPY we could start looking for a short idea. The best variant to enter in a position will be after a successful retest of the demand zone which now we can consider as a supply one. It is not a good idea directly to enter in the short position because we do not have a confirmation if the zone is becoming supply.
Short
by kidagaka123
1
Btc is Channling on Fib Line Last chance to get 50k btcAfter an incredibly Impressive 25% Run btc is channeling on the Fib Line .786 It looks to have made a tripple bottom on the .78 as well on the 4 hour time frame. It Looks Like We've Had Our Drop and we're starting to continue back rushing to that all time high as there isn't enough selling volume to really convince me that it's going to keep pushing down any further. This is the last Chance to get a 50k BTC! Also Bitcoin Came up on our Breakout Finder Thursday Tracking Technicals Breakout Finder, 📈 *Symbol*: `BTC/GBP` ✅ *Qualification*: All MAs within 1% of MA7. 💰 *Market Cap*: `$1,007,232,196,139.76` Tracking Technicals Breakout Finder, 📈 *Symbol*: `BTC/TUSD` ✅ *Qualification*: All MAs within 1% of MA7. 💰 *Market Cap*: `$1,007,232,196,139.76` Tracking Technicals Breakout Finder, 📈 *Symbol*: `BTC/USDC` ✅ *Qualification*: All MAs within 1% of MA7. 💰 *Market Cap*: `$1,007,232,196,139.76` Tracking Technicals Breakout Finder, 📈 *Symbol*: `BTC/USDT` ✅ *Qualification*: All MAs within 1% of MA7. 💰 *Market Cap*: `$1,007,232,196,139.76`
Long
by Tracking_Technicals
2
VET ANALYSIS (BREAKOUT)🔮 #VET Analysis - Breakout 🚀🚀 💲💲 There is a breakout of Symmetrical Triangle Pattern in #VET and trying to retests the level. It's a 4D time frame breakout and we will see more higher price in long-term. If the price perfectly retest the major resistance area then there will be a confirmation of bullish movement in #VET 📈📈 💸Current Price -- $0.04550 📈Target Price -- $0.08494 ⁉️ What to do? - We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸 #VET #Cryptocurrency #Breakout #DYOR
Long
by ZEUS_Market_Alerts
3