$BTC following yesterday's updatesYesterday I was initially a bit skeptical that we might not have corrected hard on an Eliot wave yet. But after I delved more into the charts and the altcoins around them, I became more and more positive.
Now we actually seem to be getting a bullish breakout that looks solid for now there are a few zones that are super important to keep an eye on.
There are a lot of bears on the road around 97k. (Dutch pronunciation: Meaning obstacles on the road)
If we manage to break the bears and have the 100k in sight again, that is our last piece of trouble to complete the bull run.
For now, wish you a very Merry Christmas Eve and Merry Christmas.
More later
Be kind to each other and the world!
Trend Analysis
GBPAUD potential sell setup & updateAs per our last analysis on GBPAUD we are still Bullish on the pair, however, we are keen to see price break below the 4h low to look for buy opportunities, currently I am waiting for price to push up to my area of interest so I can look for selling opportunities to continue price lower where we will eventually be looking for buying opportunities.
Remember, Clear charts better vision
Gold fell and weakened
Gold fell after rising to 2790. The daily chart shows a descending triangle pattern, with the high point gradually moving down, and the overall trend is a five-wave decline at a high level. The lower support level of 2545 is the dividing line between long and short positions, and the upper level of 2720 forms a double top and falls back, and it rebounds near 2584.
In general, gold is in a trend of high-level shock and decline, with a short-term rebound and a small ascending triangle structure. In terms of operation, you can pay attention to the breakthrough of the triangle before trading. Short-term support is 2610 and resistance is 2635.
It is recommended to arrange short orders when breaking below 2610, and those who are conservative can wait for the price to rebound to 2630-2635 under pressure before going short. The downside targets are TP2605, TP2580, and TP2550, respectively, and the stop loss can be set at 2656 (breaking above the previous adjustment range).
USDCAD BUY OR SELL BIASAs we can see price is clearly is a strong uptrend on USDCAD, price has formed a symmetrical triangle pattern which entells price to either go long or short. If is buy , price has to go above the supply zone and retest and long and for sell price has to go break the demand zone and retest then we short. No confirmation, no entry 🚫
EURUSD is steadily falling
EURUSD is currently in the downward channel, and the price trend is showing a steady and volatile downward trend. Previously, the price briefly went sideways after touching the lower track support of the downward channel, further expanding the price space below and forming a relatively clear head and shoulders top breakout structure. The formation of this structure further confirms the short-term downward trend.
From the short-term trend, EURUSD has rebounded to a certain extent after breaking down, but the upward momentum is limited. The key resistance levels above are around 1.046 and 1.052, while the support below focuses on 1.033 and 1.030. In terms of the overall trend, EURUSD continues the steady downward trend, indicating that the market short-selling force is still dominant.
Based on the analysis of the current trend and key points, it is recommended to focus on rebound shorting, strictly set stop losses, and pay attention to the breakout of key resistance and support to cope with potential market volatility risks.
SOLA lot of well known traders are contemplating the idea that SOL MSS has changed. Yes it has changed in the LTF though in the higher time frame, it's still bullish.
A failure to close above the weekly high, trend moved towards the previous lows.
Now there are two possible scenarios.
1. Reclaim the previous low and move towards the previous high
2. Retrace towards the previous lows and sweep the current low and move higher.
I am opting for option 2 but one can trade accordingly
BTCWe have an interesting situation with BTC.
Monthly candle on the BTC failed to close above the previous high which means it will now move towards the previous lows.
In order to confirm that idea, we have two levels which needs to be broken. If we stay above the previous low than we can head towards 100k or higher for retracement.
Secondly, there are multiple weekly FVG below which will provide strong support
What does this mean. In the next 3 months, we would stay in a range, even we break these levels than the trend would again reclaim its previous lows and head higher that would contribute to side ways movement and alts will fly.
'TON/USDT BREAKOUT IMMINENT! 3X POTENTIALLY AHEAD! Analysis of TON/USDT chart:
Important Points to Note:
Overview of the Trend:
As evidenced by the significant gain and subsequent correction early in the year, TON showed considerable upward momentum.
At the moment, the price is above the 200-day EMA (red) and the 50-day EMA (yellow), indicating a bullish bias.
Levels of Support and Resistance:
Key support levels are $4.530 and $5.257.
The present level of $5.965 and $6.882 are immediate resistance levels.
There would be more upside potential if there was a breakout over $6.882, perhaps aiming for the prior high around $8.
Analysis of Volume:
The current spike in volume suggests that there is increased interest in buying, particularly following the consolidation phase.
Given that the volume is over average right now, the positive trend may continue.
RSI Analysis :
The RSI is showing neutral momentum as it hovers close to the 50 level.
A break below 40 RSI could render the upward momentum worthless, but a move above 60 RSI would verify a strong bullish trend.
EMAs, or exponential moving averages,
There appears to be short-term positive momentum since the price is above the 50-day EMA ($5.855).
The bullish trend is reinforced by the 200-day EMA ($5.662), which acts as a key dynamic support.
3x Potential Outlook: The price would have to hit about $18 in order to provide a 3x return.
Among the catalysts for this action are:
Rise above $6.882: If this level is decisively broken, a surge toward $8 and above may be sparked.
Long-term volume growth: The increasing trend would be maintained if there was a persistently strong buying volume.
Market sentiment: TON may follow if there is upward momentum in the larger cryptocurrency market.
Hazards to Take Into Account:
The bullish argument would be refuted with a breakdown below $5.257, which would signify negative momentum.
The performance may be impacted by unfavorable news or macromarket conditions.
Approach:
Entry Point: With a tight stop-loss at $5.25, think about building up around $5.85 to $5.90.
Targets: $6.88 for the short run, $8 for the midterm, and $15–$18 for the long term.
Risk management: To protect profits during a breakout rally, use a trailing stop.
ETHUSDT Analysis: Approach With Caution I have repeatedly highlighted that the market is currently riskier than it appears . As noted in my previous analysis ( ETHUSDT: $4,102 Is the Key ), I am still holding the long position from that level with a stop entry . However, at this point, I do not find opening a new position very logical. Red box has to be first tp and move the stop to entry.
That said, due to the significant interest in finding an entry, I wanted to share this analysis for those who are actively looking.
Key Points:
Market Risk: The market is riskier than it seems, so manage your trades cautiously.
Existing Position: My long position from the linked analysis remains active with a stop entry.
New Entries: Not ideal at current levels, but for those interested, careful analysis is necessary.
Confirmation Indicators: Use CDV, liquidity heatmaps, volume profiles, volume footprints, and upward market structure breaks in lower time frames for validation.
Learn With Me: If you want to learn how to utilize CDV, liquidity heatmaps, volume profiles, and volume footprints for more accurate analysis, feel free to DM me.
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DABURAfter breaking Support of 505-510, there was a Liquidity Grab in April 2024 where price reached 490. From there, Dabur rallied to 660-670 levels
Its again trading in the same zone (CMP - 508)
Buy can be initiated above 515
Entry: 515 - 520
SL: 485 - 490
Target 1: 585
Target 2: 660-670 (ATH)
DISCLAIMER: NOT FINANCIAL ADVICE. DO YOUR DUE DILIGENCE BEFORE INVESTING
USOIL Is Very Bearish! Short!
Please, check our technical outlook for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 70.339.
Taking into consideration the structure & trend analysis, I believe that the market will reach 69.359 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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BTC.D Analysis: Retest of Key Area Highly LikelyBitcoin Dominance Looking
Bitcoin dominance looks very strong but BTC has entered the range. So I think dominance may follow a calmer course for a while, a few coins that have separated from the herd may make good moves in these few days, but it is too early to claim that the general atmosphere is completely bullish, because SP500 seems to be making a deep correction and is giving signals of this. I do not buy anything during the New Year, and I will not buy, but then I will spend all of these corrections with buying because I believe that 2025 will be good.
A retest of this area in BTC.D (Bitcoin Dominance) seems very possible based on current market behavior. This level holds significance as a potential reaction zone for further movements.
Also, I see no point in saying that this view of dominance supports the blue box analysis I shared here:
Because when BTC goes down to blue box we will see an upside move on dominance then we blue box of dominance chart will support the price, we will see an upmove on both.
Key Points:
Current Setup: BTC.D is approaching a critical area of interest.
Retest Likelihood: Market dynamics suggest a probable revisit to this zone.
Focus: Monitoring the reaction at this level for future directional clarity.
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I keep my charts clean and simple because I believe clarity leads to better decisions.
My approach is built on years of experience and a solid track record. I don’t claim to know it all, but I’m confident in my ability to spot high-probability setups.
If you would like to learn how to use the heatmap, cumulative volume delta and volume footprint techniques that I use below to determine very accurate demand regions, you can send me a private message.
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SILVER BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
We are now examining the SILVER pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 31.708 level.
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EUR/NZD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
The BB upper band is nearby so EUR-NZD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.802.
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