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BNB/USDT 1DInterval Resistance and SupportHello everyone, I invite you to review the chart of BNB in pair to USDT, on a one-day timeframe. First, we will use the blue lines to mark the uptrend channel in which the price is moving. Going further, we can move on to marking the places of support in the situation of returning to the correction. And here, the first support is at $ 320, the second support is at $ 300.2, the third support is at $ 284.8, and then we have strong support at $ 269.4. Looking the other way, we see that the price is testing the resistance area at $ 330.2. If it is successfully tested, the price may move towards the resistance at $ 359.6 and further to the resistance around $ 398.6. Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, MACD indicates that we are moving in a downtrend, while the RSI, despite the recent rebound, remains at the upper end of the range, which may lead to a price correction.
by cryptodailyuk
Daily BTC 4HChart REVIEWHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of four hours. First of all, we will use the yellow line to mark the uptrend, as we can see that the price has now gone a little below. Next, using the blue lines, we will mark the local downtrend channel in which we are currently moving. Now we can move on to marking support areas in case the correction starts to deepen further. And here, in the first place, it is worth marking a strong support zone from $ 27566 to $ 26637, however, when we fall below this zone, we can see a drop to around $ 25398, and then a strong drop to around $ 21868. Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we have a significant resistance at $ 29672, when we manage to break it, second strong resistance at $ 31385, then third resistance at $ 32747. Now let's look at the Cross 10 and 30 EMAs which indicate that we are in a local downtrend. At this point, however, it is worth looking at the EMA Cross 50 and 200, we should watch if the yellow EMA Cross 50 line crosses the blue line from above, which could indicate a return to a long-term downtrend. Please pay attention to the CHOP index which indicates that a lot of energy has accumulated, the MACD indicator indicates a local uptrend. On the other hand, on the RSI, we can see that we are moving at the lower limit, which gives the chart a local sideways trend and moments of respite.
by cryptodailyuk
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Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As we can see, the price has fallen below the uptrend line. Let's start with the support line and as you can see the first strong support is at $ 26656, if the support is broken then the next support is $ 25281, $ 23929 and $ 21967. Now let's move to the resistance line, as you can see the first significant resistance is $ 29813, if you manage to break it the next resistance will be $ 31503 and $ 32856. Looking at the CHOP indicator, we see that the energy is charged on the short interval, the MACD indicates a return to the local uptrend, while the RSI after a strong rebound we have a slight increase.
by cryptodailyuk
XAU/USD Potential Forecast|HTF Analysis| Monday 24 April 2023-Huge Demand zone on XAU/USD can correct the trend and continuous to shift bullish. -Gold have a lot of liquidity and imbalance below him so that will be the most optimal thing to grab before moving up -Keep that in mind that this poi can be respected or it cant be I am saying that because smc cant always work there is no 100% strategy in Forex market, there is no correct way of trading. -If the POI get respected and bounce from it look for confirmations and then enter. I wish you good luck.
OANDA:XAUUSDLong
by forex_with_quality
MATIC/USDT 1DInterval ReviewHello everyone, let's look at the MATIC to USDT chart on a one-day time frame. As you can see, the price is holding just above the uptrend line. Let's start with the support line and as you can see the first support in the near future is $0.95, if the support is broken then the next support is $0.80, $0.58 and $0.31. Now let's move to the resistance line, as you can see, the first resistance is $1.03, if the price breaks it, the next resistance will be $1.20, $1.43 and $1.75. Looking at the CHOP indicator, we see that most of the energy has been used, the MACD indicates entering a downtrend, however, we see a strong rebound on the RSI, which may indicate that the support point on the trend line may end the correction.
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by cryptodailyuk
DOT/USDT 1D ReviewHello everyone, let's look at the DOT to USDT chart on a one-day time frame. As you can see, the price remains above the uptrend line. Let's start by drawing a support line. And as you can see, the price is in front of a very strong support at the so-called golden point Fib Retracement equal to $ 5.63, if the support is broken then the next support is $ 5.02 and $ 4.22. Now let's move on to the resistances that the price has to overcome. First, we have a very strong resistance zone from $6.23 to $6.54, when we manage to break it, the second resistance is $6.85, the third at $7.32 and then the fourth at $7.90. Looking at the CHOP indicator, we see that there is still some energy left, the MACD indicates a downtrend, however, the RSI is approaching the lower limit, which may indicate the approaching end of the correction.
by cryptodailyuk
BNB/USDT 4HInterval Resistance and SupportHello everyone, let's look at the BNB to USDT chart on a 4-hour time frame. As you can see, the price is moving below the local uptrend line. Let's start with the support line and as you can see the first support in the near term is $ 326.8, if the support is broken then the next support is $ 321.2, $ 313.4 and $ 303.2. Now let's move on to the resistance line, as you can see the first resistance is $ 334.4, if you manage to break it, the next resistance will be $ 340.5, $ 346.7 and $ 355. Looking at the CHOP indicator, we see that the energy is gaining more and more strength, the MACD indicates a local uptrend return, while the RSI also has a rebound.
by cryptodailyuk
Where BTC is heading, a test of the current correction.Hello everyone, I invite you to review the current situation on the BTC pair to USDT, taking into account the four-hour interval and the one-day interval. First, we will use the white line to mark the first uptrend line, and then the second uptrend line, as you can see the price stays above them. We further see that in the current cycle the price is based on the local uptrend line, a similar situation took place in the previous uptrend cycle, until the price went down. After unfolding the Fib Retracement grid, we can check how strong the correction was and here we see that we have retraced to a strong resistance zone at the so-called Fib golden point of 0.618. Going further, we will develop the Fib Retracement grid on the current growth cycle, thanks to which we can mark the next support spot at the price of $ 26654, while comparing the current cycle to the previous one, we can see a drop around the strong support zone from $ 25252 to $ 23927. When the price breaks through the support zone, the next strong support is at $ 22040. We will now switch the chart to a one-day interval, which will make it easier for us to identify resistance points that the price will have to face first. And here we can see that the price has broken through a very strong resistance at 0.786 Fib, however, the attempt to retest the resistance failed and we have entered a correction period, only when price moves back above the resistance level and then positively tests it will we be able to see the resistance attack attempt at a price of $ 32389. Please pay attention to the CHOP index which indicates that after using the energy we are in a period of reaccumulation, the MACD indicator indicates entering a local downtrend, while the RSI shows a visible rebound, but at this point it must be made clear that there is still room for the price to go down to the previously mentioned levels. It is worth watching the price level in conjunction with the RSI indicator, taking into account the example scenario that the price will go down to the first current support and the RSI will indicate a rebound to or above the lower end of the range, giving us a greater probability of the end of the correction. Finally, when we turn on the Cross 50 and 200 EMAs, we can clearly see the place of return to the uptrend after a long bear market, moreover, the current correction at this moment does not indicate a threat regarding the possible continuation of the bull market.
by cryptodailyuk