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It Appears as though the Bullish Wedge is our most probable playTrading Fam, Time for my weekly update on the Bitcoin. A lot has occurred in the last week or so since I updated you all last, not least of which includes Deepseek AI FUD causing panic in the GPU and Power stock plays which has spilled over into our crypto space. But does this panic have merit or is this simply another retail bait, shaking out paper hands while whales continue to buy? The charts are showing me the latter is most probably true and news seems to support my thesis here as Michael Saylor and MicroStrategy acquired another 10,107 Bitcoin on the 26th of Jan. Previously, you will remember that I had spotted a potential H&S on the charts and had posted a caution in this regard as it had potential to play out. Shortly thereafter, I also spotted this bullish pendant at which point my bias became conflicted. Was Bitcoin going to pop or was it going to drop? We had to wait and observe further price action before it became clear. It now looks like our bulls maintained the greatest strength as we bounced off or our neckline, and broke up above our bullish wedge, hitting resistance at 106K. We then formed another bullish pennant smaller in size, dropped from that quickly to perfectly retest the topside of our larger bullish pennant, and then came back inside the wedge for further consolidation. If I am reading this chart correctly, our greatest probability now lies with the bulls breaking to the upside of the smaller wedge and retesting that 106K resistance level again. In time, I believe we'll break 106k to the upside and continue towards our target of 140k. Why 140k? When we broke above our bullish descending channel in Oct. of last year, we continued up until we hit a new high at 109k. This was our local top. We can now measure the distance from that break up (around 68k) to our new high at 109k. This same distance can be utiliized to give us a new target from our bullish wedge breakout. This fractal gives us a reasonable target of around 140k. Hope this makes sense. ✌️Stew
INDEX:BTCUSDLong
by stewdamus
2
TradeCityPro | EOSUSDT Seeking Structure Formation👋 Welcome to TradeCityPro Channel! Let’s analyze another altcoin on our watchlist, one of the oldest altcoins, which has experienced two bull runs so far. 📊 Weekly Timeframe In the weekly timeframe, it’s still one of those coins that remains within its long-term range box, which has lasted nearly 1,000 days. Recently, by making a fake breakout of its last support at 0.4485, it had an attractive upward move and reached the top of its range box at 1.3255. I haven’t held this coin myself and probably won’t buy it in the future either, but you can make your purchase either after the box ceiling breakout or take early triggers in lower timeframes. Now, why won’t I buy it? Because coins like EOS or LTC, which are old, didn’t even reach their previous highs during the last bull run, or at most, moved up to those levels, which isn’t very appealing. 📈 Daily Timeframe In the daily timeframe, however, it’s one of those coins that stands a notch above others and hasn’t returned to its daily range box, holding above higher supports. The 0.7558 level is highly significant as it represents both 50% Dow Theory wave retracement and 0.5 Fibonacci level, making it a PRZ (Potential Reversal Zone). Losing this level could delay the next bullish move, but after that, the 0.6192 level will also hold great significance. After our move to 1.3703 and its correction, our volume has been decreasing on the retracements and increasing on every upward move—this is a good sign for bullish continuation. If, in the coming days, sellers fail to break the 0.7558 support, we might see continued range-bound movement or a temporary upward move. For another purchase, either wait for a fake breakout at 0.7558, or you can make your purchase with the breakout of triggers at 0.9827 and 1.3703, but I’d recommend first checking the project and its community and being patient for momentum entry. 📝 Final Thoughts Stay calm, trade wisely, and let's capture the market's best opportunities! This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Long
by tradecitypro
5
BUY EURUSD H4 | FOREX BEEHey Traders, This EUR/USD H4 chart suggests a bullish scenario, with price action breaking key levels and retesting them for continuation. Here's the technical analysis: ### Observations: 1. Trend Analysis: - The price has broken above the descending trendline, signaling a shift from a bearish to a bullish bias. - The breakout has been followed by a successful retest within the green zone, confirming it as a support level. 2. Key Levels: - Support: The green zone around 1.0480-1.0500 has acted as a strong support after the breakout. - Resistance: The chart highlights a target near the 0.5 Fibonacci level at 1.0694. 3. Retest Zone: - The blue highlighted area indicates a retest of the broken trendline and horizontal support. This confluence area strengthens the bullish case. 4. Fibonacci Levels: - The 0.236 Fibonacci level (~1.0424) was successfully held, suggesting that the retracement is over and the upward momentum may resume. 5. Potential Movement**: - The price is expected to continue its bullish movement, as indicated by the blue arrows, with a primary target around 1.0694. --- ### My Thoughts: This chart looks bullish, with a strong base formed around 1.0480-1.0500. Watching for further confirmation through price action, such as higher highs and higher lows, would be wise. However, a break below the retest area could invalidate this setup and shift the bias.
Long
by forexbeesignals
Nightly $SPX / $SPY Predictions for 1.28.2024🔮 📅 Tue Jan 28 ⏰ 10:00am 📊 CB Consumer Confidence: 105.9 (prev: 104.7) 💡 Global Events: 🚩 China PMI: Key manufacturing data impacting global growth. 🍵 U.K. Business Report: Updates on investments and pensions. 📊 Earnings: GM and LMT pre-market results. 💡 Market Insights: 📈 GAP ABOVE HPZ: A further gap up would lead to it holding for a little, then chopping near the EEZ. 📊 OPEN WITHIN EEZ: Breakout to the EEZ, make a higher push, and round out the top. 📉 GAP BELOW HCZ: Due to the ongoing momentum, we will get a slight recovery but still drop and chop back down into the lower range. #trading #stock #stockmarket #today #daytrading #charting #trendtao
SP:SPXLong
by PogChan
Bitcoin's Bullish Breakout: Targeting $126,500! Introduction: Bitcoin (BTC) has recently experienced a significant price surge, reaching new heights. For those new to cryptocurrency trading, understanding this movement is crucial. In this post, we'll break down the current BTC price action and discuss potential trading strategies. Current BTC Price: As of now, Bitcoin is trading at $101,254.00 USD. Key Levels to Watch: Support Level: $94,500 USD Resistance Level: $105,000 USD Market Sentiment: The market is currently bullish, with increased trading volume and positive news surrounding Bitcoin's adoption. Potential Price Target: Based on the "Cup and Handle" pattern, a technical analysis chart pattern, the projected price target for Bitcoin is $126,500 USD. Trading Strategy for Beginners: 1. Entry Point: Consider entering a long position if the price retraces to the $94,500 support level. 2. Stop-Loss: Set a stop-loss just below the $92,000 level to manage risk. 3. Take-Profit: Aim for a take-profit at the $126,500 target. Important Note: Cryptocurrency markets are highly volatile. It's essential to conduct thorough research and only invest funds you can afford to lose. Conclusion: Bitcoin's recent price action presents potential trading opportunities. By understanding key levels and technical indicators, beginners can navigate the market more effectively. Always remember to trade responsibly and stay informed. Let's Discuss! What are your thoughts on Bitcoin's current price action? Do you agree with the projected target of $126,500? Share your insights and let's engage in a constructive discussion! Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions. By inviting readers to share their thoughts and engage in a discussion, you can foster a more interactive environment and encourage traders to participate in the comments section.
INDEX:BTCUSDLong
by ProcessAndIntercept
4
XAUUSD Analysis: Potential Bearish Pullback Towards Key Support📉 XAUUSD Daily Analysis 🔍 🚨 Potential for a Bearish Pullback 🚨 Gold (XAUUSD) is showing signs of a potential downward move after rejecting a key resistance level. If this momentum continues, we could see the price heading towards the support zone at 2680/2670. 💡 Key Insights: 📌 Market rejection at resistance = possible bearish momentum. 📌 Target support area: 2680/2670. 📌 Risk Management: Stick to 1-2% risk on trades. ⚠️ Historical Note: When the market last hit an all-time high, it saw a sharp one-day drop. Stay cautious! 💬 Disclaimer: This is for educational purposes only. Always trade responsibly and manage your risk effectively.
OANDA:XAUUSDShort
by MrStellanSight
11
USD/CHF Poised for a Bullish Breakout: Path to Parity Bullish Scenario 🚀📈 1. Breakout Above the EMA (200) 🔺: If the price closes above the 200-week EMA (0.9082), it could confirm a long-term bullish trend reversal. A strong push may target key levels like 0.9500 and eventually 1.0000 (parity) 🎯, as shown by the projection arrow. 2. RSI Support 💪: The RSI above 50 indicates that buyers are gaining momentum. If RSI trends toward 70, it signals even stronger bullish momentum ✅📊. 3. Higher Highs and Higher Lows 📶: The chart is forming higher highs and higher lows, a classic signal of an uptrend. This pattern supports a move toward higher price levels 🚀. 🔥 Key Takeaway: A breakout above the EMA could spark a powerful rally, with parity (1.0000) as a major psychological target.
Long
by MrStellanSight
USD/JPY Market Update: Support Holds and Resistance Levels AheadUSD/JPY has held firm at the support level and is now returning to a buy zone. Currently, the market is at 156.500, with the next resistance level set at 159.000. I’ve explained the market clearly in my chart analysis for easier understanding. If anyone has questions, feel free to ask in the comments or send me a message in my inbox. Thank you for your support—like, comment, and follow for more updates!
by MrStellanSight
XAUUSD - ANALYSIS👀 Observation: Hello, everyone! I hope you're all doing well. Let me share my personal view on XAU/USD (Gold) with you. Based on the current market structure, Gold has broken below its key level at 2735.960, indicating potential further downside movement. However, before the decline continues, I anticipate a pullback upward to the 2747.420 level. From this area, I will look for selling opportunities targeting the zones between 2707.905 and 2703.135 . 📉 Expectation: A pullback to 2747.420 followed by a potential sell-off towards 2707.905–2703.135 . 💡 Key Levels to Watch: Resistance: 2747.420 Support: 2735.960 (broken), 2707.905–2703.135 💬 What’s your view on the XAU/USD (Gold) this week? Share your thoughts in the comments below! Trade safe
OANDA:XAUUSDShort
by PouyanTradeFX
TradeCityPro | ADAUSDT Continued Upward Momentum?👋 Welcome to TradeCityPro Channel! Let’s analyze ADA, one of the popular altcoins in the market, and identify potential entry and exit triggers. 🌐 Overview Bitcoin Before diving into ADA, let’s check Bitcoin’s 1-hour timeframe. After breaking the 104227 support, a short position could have been opened, as I mentioned earlier. With a tight stop-loss and quick profit-taking, you could have achieved a risk-to-reward ratio of 6:1 under strict conditions. Additionally, after the fake breakout at 98867 (a significant support), Bitcoin experienced a sharp move followed by a pullback to 101991, which was rejected. Now, Bitcoin is back at the 98867 support. If this level holds, Bitcoin will likely range within the box. If broken, another short position can be opened, but remember to secure profits quickly. 📊 Weekly Timeframe In the weekly timeframe, ADA stands out compared to most other altcoins. It has effectively broken out of its weekly range box but has reacted to the next resistance level, with Bitcoin holding back further gains. ADA also made a higher low in 2024 compared to its 2023 low of 0.2390, demonstrating bullish behavior and avoiding a drop to the 900-day range box bottom. If you bought ADA at the breakout of the daily range box ceiling (0.4562), continue to hold for now. However, if you’re worried about losing profits or have limited capital, you can consider withdrawing your initial investment while letting the rest ride. For new entries, look for either a strong reaction at the 0.7458 level with daily momentum triggers or a breakout above the 1.1982 key resistance. Personally, I’m planning to add to my position after 1.1982 breaks. 📈 Daily Timeframe On the daily timeframe, ADA found support at 0.3134 after several tests. Sellers failed to break this support, allowing buyers to gradually step in. Following the breakout of the short-term range box ceiling at 0.3659, ADA experienced an impressive 230% rally. After this rally, ADA entered a range box, where it’s unclear whether it’s a re-accumulation zone or a distribution zone. This will become evident when the box is broken, either upward or downward. Currently, the critical resistance is at 1.1299, which has been tested and rejected three times, making it a key level. For new purchases, I’m waiting for a breakout above 1.1299, combined with increased volume and an RSI above 62.52. Inside the box, I won’t take any action as I’m already holding ADA, but I’ll aim to add more if these conditions are met. For short-term profit-taking, you can consider exiting if ADA drops below 0.836, which is a significant support level. However, be prepared to re-enter after reclaiming this level or upon confirming a fake breakdown. If 0.836 breaks down convincingly, we might see further support levels at 0.7049 and 0.6124. 📝 Final Thoughts Stay calm, trade wisely, and let's capture the market's best opportunities! This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Long
by tradecitypro
12