On the way to 85.5KMorning folks,
So, both our entries worked fine - as on the top of the right arm as on recent pullback to 96k area. Now there are two moments that you have to know.
First is, the risk factor. It comes from weekly bullish grabber pattern , suggesting upside jump above 108K top.
But the problem with it is unclear reasons for this jump. Because fundamental picture for now doesn't support any upside action on BTC. First is, dollar and yields are going higher. Second and what is even more important - the new debt ceil act is not taken yet. We have only temporal act on postponing of this decision. It means that until it will be taken, the US Treasury has to save. And they do - spending cash from their Fed deposit. It means that liquidity for some time will remain narrow, which is bad for BTC and Stock market performance.
Since both our entries are safe already and protected with breakeven stops, we could relax a bit and keep our eyes on 85.5K downside H&S target. If you still would like to go short- you should understand the risk that you take, because your stop now will be above 96K area. And with potential weekly bullish pattern on the back.
Those who have an opposite view on situation and want to buy instead - the weekly pattern is the great one that you could try to use. If price will drop under 91K area, it will mean the failure of this idea.
Signals
MAJOR SUPPORT AND RESISTANCE OF BTC BASED ON ORDER BLOCKSCurrent Price Action
Bitcoin is trading around $93,041, showing a consolidation pattern after recent price volatility.
The price action suggests Bitcoin is in a critical zone where traders are watching for directional clues.
Support Levels
$92,000 (Immediate Support):
This level has served as intraday support in recent trading sessions.
High trading volumes were observed near this level, suggesting strong buyer interest.
$90,000 (Psychological Support):
Round numbers like $90,000 act as psychological barriers.
Historically, Bitcoin has respected such levels during both upward and downward movements.
$88,500 (Technical Support):
This level aligns with previous consolidation zones and Fibonacci retracement levels (e.g., the 38.2% retracement from the recent rally).
$85,000 (Major Support Zone):
Represents a deeper correction level but remains a critical support based on long-term moving averages (e.g., the 50-day EMA).
Resistance Levels
$94,500 (Immediate Resistance):
Current trading activity shows selling pressure near this level.
Historically, it aligns with a minor peak from earlier price actions.
$96,000 (Strong Technical Resistance):
Close to the upper boundary of recent trading channels.
Converges with key Fibonacci levels (e.g., 61.8% retracement from the last major drop).
$98,000 - $100,000 (Major Resistance):
$100,000 is a significant psychological level for traders.
Breaking this level would signal a strong bullish trend, likely leading to new all-time highs.
Above $100,000:
If Bitcoin crosses $100,000, potential resistance zones could emerge at $105,000 and $110,000 based on historical extensions and trader sentiment.
Other Key Indicators
Moving Averages:
Bitcoin is trading above the 20-day moving average (~$91,500), which is a bullish signal.
The 50-day and 200-day moving averages (~$88,000 and $80,000, respectively) are major support zones.
Relative Strength Index (RSI):
RSI is near 60, indicating neutral-to-bullish momentum. A move above 70 could signal overbought conditions.
Volume Profile:
High trading volume around $92,000–$93,000 suggests significant activity, marking this as a key price region.
Summary
Supports: $92,000 → $90,000 → $88,500 → $85,000.
Resistances: $94,500 → $96,000 → $100,000.
Traders should watch for breakouts or breakdowns at these levels to determine the next price trend.
Gold Outlook: Higher Lows Signal Continued Upside PotentialYesterday was a pretty volatile day for gold, with the price briefly dropping to 2615.
However, bulls quickly regained control, pushing the price back above the 2635–2640 support zone and establishing a higher low in the broader trend.
Currently, the price is stable above this key support level and is challenging interim resistance at 2650.
A successful break above this resistance could open the door for a move toward 2680, with further upside targets at the significant 2700 level and the technical resistance at 2715.
I remain bullish as long as yesterday's low at 2615 remains unbroken.
Gold--> Retest the resistance level before declining!Hello, dear friends! This is Ben here!
Gold prices continue their upward trend, currently hovering around 2671, with a modest daily increase of 0.05%.
The chart indicates that gold is consolidating and attempting to approach the critical resistance level of 2675. The bullish market structure suggests that prices are gearing up for a potential breakout. However, the key question remains, will the breakout occur? This depends largely on external factors, including the U.S. economy's performance and the inflationary trends, which have been long anticipated by the market.
Based on current market behavior, we might expect gold to test liquidity and recheck key resistance levels before any potential downward correction. Buyers are likely to exercise caution after disappointing inflation data from China and hawkish signals from the Federal Reserve's recent meeting minutes.
Frankly speaking, I’m not overly optimistic about gold’s upward momentum at the moment, given the lack of strong bullish catalysts aside from lingering trade policies, such as Trump's tariffs on major global powers. Fundamentally, the dollar’s strength and the Fed's hawkish stance continue to cap significant gains for the precious metal.
Resistance levels: 2675, 2680
Support levels: EMA 2665, 2655
From a technical standpoint, the market structure remains bullish, and in the short term, we could see an attempt to break through the 2675 resistance. If successful, prices may test the next areas of interest at 2680 or even 2692 (OB Zone),which could later result in a possible decline.
Best regards, Bentradegold!
Lingrid | EURUSD bearish TREND Continues: Potential ShortThe price perfectly fulfilled my last idea. It hit the target. FX:EURUSD market continues to push to lower levels. The price formed a notable double top before dropping after testing the downward trendline. It initially tested the high zone from the previous week, then declined, breaking and closing below the previously respected support level at 1.03500. Furthermore, the price has broke through the previous day's low, suggesting that bears are in control. I expect the price to at least retest the previous lower low levels and potentially make news lows. My goal is support zone around 1.02620
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
WTI highest in more than 3 weeksTVC:USOIL hit its highest level in more than three months in early trading on Monday (January 13) in Asian markets, continuing last Friday's rise on market expectations that the United States will strengthen its measures. sanctions on Russia's oil industry, which will result in Russian supplies in China and India coming under pressure; In addition, the nonfarm payrolls report also boosted market confidence in the growth of crude oil demand in some parts of the US and Europe also stimulated winter crude oil fuel demand.
The Biden administration on Friday imposed the broadest package of sanctions targeting Russia's oil and gas revenues, a move aimed at giving Kyiv and Trump's new team leverage to reach a peace deal in Ukraine. This move is aimed at cutting Russia's revenue to continue the war. Since the Russia-Ukraine conflict began in Russia in February 2022, the war has caused tens of thousands of casualties and reduced many cities to rubble.
Ukrainian President Zelensky posted on X that the measures announced last Friday would "deal a big blow" to Moscow. He added that "The less money Russia gets from oil... the sooner peace will be restored."
US job growth unexpectedly accelerated in December, the unemployment rate fell to 4.1% and a stable labor market at the end of the year will boost crude oil demand.
Friday's closely watched Labor Department jobs report also showed fewer long-term unemployed people in December and the average length of unemployment shortened. Increases in these indicators have previously raised concerns about a labor market downturn.
December employment rose 256,000, the most since March. Data for October and November were revised to show 8,000 fewer jobs were added than previously reported.
The unemployment rate decreased from 4.2% in November. The average unemployment rate last year was 4.0% and in 2023 it will be 3.6%. In Friday's report, the government also released revisions to the past five years of seasonally adjusted household survey data, from which the unemployment rate is calculated.
With last Friday's jobs data settling in, this week will see a lot of US data and statements from Federal Reserve officials. US President-elect Donald Trump's team is expected to make many comments before the inauguration ceremony on January 20. China's trade data, economic activity and GDP will also be the focus of the market in general and the Crude Oil market in particular.
On the daily chart, TVC:USOIL continues its uptrend after breaking through the rising price channel noticed by readers in the previous issue. And currently the upward momentum is limited by the 0.618% Fibonacci retracement level, once WTI crude oil breaks above this level it can continue to increase further with the target then around 82.75USD in the short term.
However, the Relative Strength Index shows that the RSI is operating in the overbought area, which is a signal that there is not much room for price increases ahead, and also signals a possible downward correction. happen.
However, the technical outlook for WTI crude oil is currently bullish with support from the trend price channel, EMA21 and the nearest support level at the 0.50% Fibonacci retracement.
As long as WTI crude oil remains above the price channel and EMA21, any price declines should only be considered short-term corrections, notable levels will also be listed as follows.
Support: 76.33 – 75.20 – 74.61USD
Resistance: 78.98USD
AUD/JPY: Bearish Reversal in Play, A Long Downtrend Awaits?Hey Realistic Traders, OANDA:AUDJPY has no chance for a Bullish Outlook? Let's dive into the analysis...
After a prolonged consolidation phase, the Aussie Yen has once again traded below the EMA-200 line, forming a new lower high along the way. This bearish signal marked the beginning of a continued downward movement, which was further confirmed by a breakout from a rising wedge pattern. Such breakouts typically indicate strong bearish momentum, especially when accompanied by multiple bearish marubozu candlesticks.
Further strengthening this outlook, a falling wedge breakout occurred on the JPYBASKET, signaling a continuation of its prevailing bullish trend. This divergence between Aussie Yen and JPYBASKET adds weight to our bearish analysis.
Considering these strong technical signals, the price is likely to move downward toward the first target at 94.651 or potentially the second target at 93.716.
However, this bearish scenario depends on the price staying below the critical stop-loss level at 98.478.
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
"Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Aussie Yen".
JNJ – Potential Buy Opportunity at Support LevelThe JNJ stock price is currently approaching a key demand zone. If the price finds support and bullish confirmation signals appear, such as bullish candlestick patterns or long lower wicks, we could see a potential rebound. The first target for this move would be around the $153.03 level.
This setup offers an opportunity for a long position if the demand zone holds. Traders should monitor for additional confirmation before entering.
Do you agree with this analysis, or do you have alternative views on this setup? Share your thoughts in the comments!
USDCHF: Potential Rejection from Resistance ZoneUSDCHF is currently trading near a significant resistance zone, as highlighted in the chart. This area coincides with a prior supply zone that has historically acted as a reversal point. The structure suggests that sellers may step in, pushing the price lower. If the pair confirms rejection from the resistance, we could see price drop towards 0.89420.
If you agree with this analysis or have any additional insights, feel free to share your thoughts in the comments!
USDSGD: Pullback Expected from Resistance ZoneThe USDSGD pair is approaching a strong resistance zone around 1.37500, which aligns with a previous supply area where price has faced significant rejection in the past. This level marks a potential turning point, with price showing signs of exhaustion as it tests this key zone.
We could see sellers take control if the pair rejects this resistance. A downward move could see the price targeting the area around 1.35152.
If you agree with this analysis or have any additional insights, feel free to share your thoughts in the comments!
DXY - Potential Sell At Key ResistanceThe DXY is approaching a key resistance zone, which has historically acted as a strong supply area. This level has seen multiple price rejections in the past, making it a critical area of interest for potential reversals.
The current uptrend has brought the price back into this resistance zone, but there are signs of potential trend exhaustion as the price tests these levels. If the price confirms rejection with bearish signals, such as reversal candlesticks or divergence on oscillators, we could see a downward move.
I anticipate that, upon rejection from this resistance zone, the DXY may head lower toward the 107.548 level. This setup aligns with the idea of a short-term correction within the broader market context.
Let me know your thoughts on this analysis or if you see a different perspective! Feel free to share your insights in the comments!
EURHUF - Potential Sell At Key Resistance LevelThe EURHUF pair is currently testing a key resistance level, which has historically acted as a significant supply area.
The current uptrend has brought the price into this resistance zone, but the market appears to be losing momentum. If bearish signals emerge, such as reversal candlestick patterns (e.g., bearish engulfing or shooting star) or divergence on indicators like RSI, we could see a potential reversal.
I anticipate that a rejection from this resistance zone could lead the price lower toward the 402.932 level. This setup aligns with the idea of trend exhaustion near resistance, providing a potential short opportunity.
What’s your perspective on this analysis? Feel free to share your thoughts or any alternative scenarios in the comments!
GBPUSD - Potential Long from Key Support ZoneThe GBPUSD pair is currently approaching a significant demand zone near the 1.20200 - 1.22000 level. Historically, this area has served as a robust support level, often leading to strong bullish reversals. The recent bearish momentum has pushed the pair into this critical area, increasing the likelihood of buying interest emerging.
A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would signal potential upward movement. If buyers regain control, the price may head toward the 1.24427 level.
This setup suggests a potential short-term rebound, aligning with a corrective move within the broader market structure.
USDSGD: Potential Short from Key ResistanceThe USDSGD pair is approaching a notable resistance zone around the 1.37160 level, an area that has historically acted as a supply zone, leading to price reversals. The current price action shows signs of hesitation as it tests this zone, which could indicate potential weakness.
If sellers regain control, the pair could reverse downward, with the 1.35041 level being a likely target for the next support zone.
GBPCHF - Potential Rejection at ResistanceThe GBPCHF pair is trading near a key resistance zone around the 1.13646 level, which has acted as a significant area of interest in the past. This region has previously led to reversals, suggesting that sellers may regain control at this point. The price action indicates a potential for bearish momentum, especially if rejection patterns form at this level.
A rejection from the resistance zone could be confirmed by bearish candlestick patterns such as engulfing candles, long upper wicks, or other signs of selling pressure. If the rejection occurs, a potential move toward the 1.12850 target level is anticipated. This aligns with the broader expectation of a bearish correction within the current market structure.
If you have a different perspective or additional data, feel free to share!
NZDUSD - Potential Long from Key Support ZoneThe NZDUSD pair is currently approaching a significant demand zone near the 0.55800 - 0.54700 level. Historically, this area has acted as a strong support, leading to notable bullish reversals. The recent decline into this zone suggests a potential for buyers to regain control and push prices higher.
A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would indicate an increased likelihood of a move upward. If this scenario unfolds, the price may head toward the 0.57580 level.
This setup aligns with a potential short-term rebound within the broader bearish market structure.
What are your thoughts on this outlook?
AUDUSD: Potential Pullback from Key Support ZoneThe AUDUSD pair is currently trading near a key daily support zone in the 0.61600–0.62400 range, which has previously acted as strong support. This area is critical as it aligns with historical price rejections and hints at the possibility of a bullish reversal.
If buyers regain control in this zone and the price begins to show signs of upward momentum, I anticipate a move toward the 0.63700 level.
if you agree with this analysis or have any additional insights, feel free to share your thoughts in the comments!
NZD_USD SWING LONG|
✅NZD_USD will be retesting a support level soon at 0.7950
From where I am expecting a bullish reaction
With the price going up but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
LONG🚀
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NZD-JPY Will Fall! Sell!
Hello,Traders!
NZD-JPY made a confirmed
Bearish breakout of the key
Horizontal level of 87.900
While trading in a local
Downtrend so we are
Bearish biased and we
Will be expecting a
Further bearish move down
Sell!
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