BTCUSDT Opportunity for a Drop from 60KBTCUSDT is trending downward toward the lower end of its consolidation zone. The market has been fluctuating between 52K and 72K since April. Now, it looks poised to retest the bottom of this range, especially after breaking and closing below the key psychological level at 60K. On the weekly timeframe, the price also broke and closed below the prior week's low, forming a significant bearish candle. This suggests that bearish momentum may continue. The target is the support level at 54,000
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SOLUSDT Trend continuation tradeSOLUSDT has been ranging between the 140 and 160 levels, but it has recently broken and closed below this range. This indicates a shift in market dynamics. The market might be heading to retest the area where we observed a bullish impulse leg previously. The break below the upward trendline suggests that the price has entered a consolidating phase, which was signaled by the price being above the trendline and showing bullish momentum. Given this context, the market is expected to push a little further down towards a key round number, which could act as a psychological level of support. The target is support level at 120
DXY's Trend in Question: Support Holding, But Bulls need 102In my Friday analysis, I mentioned that if the DXY drops below the support zone, defined by the recent low and the year's starting price, we could expect further downside.
Initially, following the release of the NFP data, the price did decline, but it quickly reversed after reaching the support level, forming a strong bullish reversal candle with a long tail on the chart.
While we can't confirm a trend reversal yet and USD bulls are still not in out of the woods, as long as this support holds, there is a strong possibility of a move to the upside.
For a clearer medium-term outlook, we need a break above the 102 level.
If this happens, the path to 104 should open up, and we can expect the price to rise toward that zone.
BTTCUSDT(BitTorrent) Updated till 08-09-24BTTCUSDT(BitTorrent) Daily timeframe range. PA is holding the current level for a while now. which is good compare to the market. its trying for 0.00000096 a little bit volume may help it there. closing above clean can push it further. local support at 0.00000072.
Bitcoin's Price Struggles: A Bearish Short-Term OutlookAfter dipping to 50k in early August, Bitcoin staged a recovery and climbed to 65k. However, the bullish momentum lacked follow-through, as buyers were unable to push past the resistance of a large flag pattern that has kept Bitcoin in a corrective phase for months.
In the short term, Bitcoin’s price pulled back down from 65k, initially forming what looked like a falling wedge—a potential bullish reversal pattern.
Unfortunately, this formation did not hold, and Bitcoin experienced another breakdown.
Currently, the short-term outlook is bearish, with resistance around the 55,500-56k zone.
Short-term traders may consider selling in this range, targeting a move back to 50k if a new leg downward materializes.
This bearish scenario would be invalidated if the price stabilizes above the 58k level.
BNXUSDT(BinaryX) Updated till 07-09-24BNXUSDT(BinaryX) Daily timeframe range. even on red day when many alts going to its low or creating new low its holding like a beast. PA is outperforming many things at once. breaking 1.6644 clean will push to price discovery and new high. local support at 1.1891.
Lingrid | BITCOIN short OPPORTUNITY at 60K levelBINANCE:BTCUSDT is moving downward toward the bottom of the consolidation zone. For context, the market has been oscillating between the 52K and 72K levels since April. Currently, I believe the market may retest the bottom of this zone, especially after it broke and closed below the psychological level at 60K. On the weekly timeframe, we have also broken and closed below the previous week's low, forming a large bearish candle. As a result, I expect the continuation of this bearish momentum. My target is support level 54000.
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ETH/USDT: High-Volume Breakout, Downside Risk -19.34%?Hey Realistic Traders, let's dive into the technical analysis of BINANCE:ETHUSDT
In the H4 timeframe, the price stubbornly stays below the EMA100, reinforcing the strong bearish trend we've been watching . A rising wedge pattern had formed, but recently, the price took a dive, breaking out of that pattern with high trading volume—never a good sign for the bulls. Adding fuel to the fire, the MACD has made a bearish crossover, with the MACD line slipping below the signal line, signaling that the downward momentum is picking up steam.
With all these technical indicators lining up, we’re eyeing a potential continuation of this downward journey toward Target Area 1 at 2,252.90 or even Target Area 2 at 2,073.77. However, bulls might find some hope if the price manages to break above the resistance level at 2,855.96.
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 Ethereum.
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Ethereum could test 2k zoneAt the beginning of August, ETH/USD broke below the crucial $2,900 support level, accelerating to the downside and reaching a low of $2,300.
As expected, a recovery followed, with a retest of the broken level. However, despite two attempts by bulls to reclaim the newly formed resistance in August, both efforts failed, and the price subsequently rolled back down to the recent lows.
Currently, Ethereum seems to be pressing downward again, and a break below the $2,350 zone could trigger a further correction toward the $2,000 level.
I remain bearish as long as the price stays below $2,600.
Lingrid | AUDCHF: Potential CHANNEL breakout FX:AUDCHF is currently consolidating after breaking and closing below the psychological level of 0.5700. The overall trend remains bearish, and the market has recently bounced off the resistance zone. Looking at the daily chart, we can observe a sell-off followed by a pullback to the 61.8% Fibonacci retracement level. The price has consolidated around this psychological level before moving lower, breaking through last week's lows. I believe the market is poised to break through the channel's border, which could indicate a continuation of bearish momentum. My goal is support level 0.56400
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Lingrid | EURUSD long from CONFLUENCE zoneFX:EURUSD closed bullish on the monthly timeframe, but it encountered resistance and bounced off that zone. Currently, the price has made a pullback and is heading toward the psychological level at 1.1000, which also serves as a key support zone. On the daily timeframe, the market remains bullish, suggesting that the recent pullback could be an opportunity for a rebound. I expect the market to bounce off the confluent zone formed by the lower border of the channel, a trendline, and the psychological level at 1.1000. This combination of support factors could provide a solid foundation for the market to resume its upward momentum. My target is resistance zone at 1.113500
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Lingrid | XAUUSD: potential LONG trade from the SWAP zoneOANDA:XAUUSD has bounced off a support level and reached the significant price level of 2500. On the daily timeframe, the market has formed two long-tailed bars, indicating a double rejection of the support level. I believe the market is poised to test all-time highs, provided that upcoming news is not unfavorable for gold. On the 1H chart, the price action has broken and closed above the downward channel, suggesting that this was a pullback and that we may be seeing the end of that pullback with a possible continuation of the current trend. I expect the market to retest the swap zone before moving to higher levels. My goal is resistance at 2527
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SL Triggered, NFP Incoming: Will Gold Push to New Highs?Yesterday, I took a stop loss, which is, of course, a normal part of trading.
What’s ironic, though, is that overall, I’m bullish on Gold. Even more ironic is the fact that in my Monday analysis, I mentioned that Gold would likely test the 2480 zone before continuing its upward trend.
I even spotted the 'double Pin Bar formation' at the bottom, yet I remained short.
Ultimately, my ego and the desire 'to be right'—thinking Gold would dip to the 2450 zone before reversing—got the best of me.
Anyway, let’s move on to today’s analysis...
As I mentioned earlier, after Gold fell into the significant support area around 2480 on Tuesday, the price bounced back to the upside. The following day, despite another wave of selling pressure, the price reversed again, leaving behind a 'Double Pin Bar' formation on the chart.
Yesterday, the price broke above the 2505-2507 zone, which also confirmed a short-term double bottom formation. At the time of this article’s publication, the price stands at 2518, and the entire structure we’ve discussed is highly bullish.
Looking ahead, as long as the 2505 level holds, the chances for a new all-time high are very strong. The measured target, should 2530 be breached, is 2590.
Currently, I’m 'out of the market,' awaiting the NFP data for further clarification. I will update my analysis accordingly once the data is released.
Lingrid | GBPNZD: bearish DIVERGENCE the RESISTANCE zoneThe price perfectly fulfills my last idea. It hit the target. The market has reacted to a bearish divergence on the 1H chart, causing OANDA:GBPNZD to bounce off a significant resistance zone. Having reached a strong resistance level, the market created a daily long-tailed bar before pulling back, which indicates rejection of that level at 2.12700. Given the overall bearish trend and the formation of a large bearish candle, it is likely that the market will pull back toward support levels. I expect the market to move down from the resistance zone, potentially breaking out of the upward channel as it seeks to test those support levels. My goal is a support level of around 2.10500
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Lingrid | TONUSDT Post-Black Swan PRICE Analysis OKX:TONUSDT experienced a significant decline following Durov's arrest, dropping below the May low. However, the price has made a false breakout of this important monthly low. After falling below the psychological level of 5.00, I believe the market may be forming an accumulation zone. The market has retraced 50% of the range between June 2023 and July 2024 and has seen approximately a 45% correction. There is potential for prices to decline further, possibly reaching a 50% correction. Nevertheless, I anticipate that the market will gradually move upward, given the presence of a strong support level and noticeable divergence, which could indicate a potential reversal and buying opportunity. My target is resistance zone at 6.00
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DXY- Dive under 100?In my previous DXY analysis I said that, although the index reversed from the beginning of the year support, bulls should not get too excited as long as the index is under 102.30 zone.
In the next days, the index resumed its fall and now is trading back towards recent lows.
Today's NFP data could bring clarification and if the index falls below the recent lows, 99.50 is exposed.
For a bullish scenario, we need a reversal from this zone which could also be the beginning of a double-bottom pattern.
EurUsd- Buy dips for 1.12 retestIn my last EUR/USD commentary, I mentioned that the pair could reach 1.11.
That target was not only met but exceeded, with a top at 1.12.
The pair is currently in a normal corrective phase, and once this correction ends, EUR/USD could resume its upward movement.
My strategy is to buy on dips near the 1.10 level, with the potential for a 1:3 risk-to-reward ratio depending on the stop-loss placement.
Shorter-term traders could also consider the 1.11 level as a point to take profits.
Gold possible up correctionXAUUSD continues its downward movement, closing below the 2500 level and confirming a break out of the consolidation zone. With this momentum, the market is likely to head to lower levels. Although the major trend remains bullish, this correction might find support around the 2450 level. If the market retests this area and shows rejection signs, like a bullish long-tailed bar, it could offer a good buying opportunity. A strong rebound from the 2450 support could pave the way for a continuation of the bullish trend toward the all-time highs. The target is the resistance zone at 2505
Gold- Stuck in a newly established range. Will support give awayYesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound.
While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450.
Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone.
My swing trade strategy remains unchanged: sell into rallies.
GBP/USD Trade Setup 1 Hour TimeframeOn the 1 hour timeframe, GBP/USD has formed a descending channel, followed by a strong breakout to the upside and a retest.
This pattern has formed at a daily support level. To enter a buy position, we need to observe bullish candlestick patterns for confirmation.