Upside
PEP - PEPSICO, INC + upside break Historic:
08/18/2021 (dd-mm-yy)
Fear & Greed Index: 37
Mid-term forecast (1-3 weeks):
If price breaks the 158-159 resistance, a resumption of a strong uptrend is expected.
Aiming at 163.
If the support at 153-154 breaks, the short-term forecast (resumption of the downtrend) will not be valid.
We will close our open trades if the 153 level is broken in the medium term.
Technical analysis:
A triangle forms on the daily chart between 158 and 153, starting on July 27, 2021.
Today August 18, 2021 it can break 157-158 and is expected to rise to 163 according to technical analysis and confirmation of the pattern.
+ Trigger:
Trigger1= 157-158-159
+ Take Profits:
TP1=163
+ Stop:
Stop1=153
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BITCOIN - Reversal OddsHello everyone, rouzwelt here
This post is about analyzing the probabilities of a successful reversal and it'll be brief. As you can see in the chart price is about to break above the red down-trend line and if it manages to do so then we will see an early sign of bulls showing up to fight back, but that's only the first step. The second step for them is to move past the last impulse move up which is in line with 0.382 fib retracement level, this might be the easiest step in their way up. But the real challenge for them to change the short-term bias in their own favor is to break above the last swing high which is in line with 0.618 fib retracement level that makes it a strong resistance level (yellow dotted line). They also have another small step after those which is to break above the purple channel, but I don't think that it would be a difficult job for them if they have already passed the previous ones successfully.
So there are 3 steps in their way to be able to change the odds here, and if they succeed in doing that then they might begin to bring price back to upper side of the 30/40k range which will give them another chance to test the 42k level and maybe break above it this time.
But until they manage to do so, bears are still in control, although they are not doing much. And any failure from bulls in those 3 steps would make bears' job even easier, as rejection at those said fib levels are highly probable, and they also would be good short entry points if price reaches to those levels because the main trend is to the down side, and whenever that is the case you better look for short entry points at impulse moves up, as in down-trend generally speaking, resistance levels manage to hold and reject the price.
That's all for now and please consider supporting me by hitting like if you find my post informative and please comment if you have any opinion about my analysis, I'd appreciate it a lot. Enjoy your weekend and trade safe.
Wait for confirmation of Price Action to execute buy orderH4 Time Frame
Structure: Breakout Sideway from 1790 to 1820.
Bias: Upside.
Wait for retest support 1820 and confirmation of Price Action to execute buy order.
Target is next resistance at 1850-1860.
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Wish you all have a good trading day!
Kin just 14 days from major breakout 071421We are seeing a nice breakout point for KIn within days. I am using the Martin Auto Trendlines (red and green dotted trendlines) to see the possible path for Kin within days and something tells me we will be on the upside but If Bitcoin decides to make that last move down then we could see Kin go lower for the short term. This will be a great time to dollar cost average into more Kin as we are getting closer and closer to Bitcoin turning the corner and heading to its end of year peak of over $250-$300k. Time will tell.
Amazon Triple Bottom1. Amazon just completed the third bottom of a triple bottom that began late last week. High probability pattern that should be followed by strong upside.
2. This triple bottom is also just under the key level of 3700.00, showing there may be a support range from 3695.00-3700.00 that will allow uptrend to resume.
Gold Back to All Time Highs1. Gold price is entering a narrow wedge with an 11 month resistance and a 2 year support. This support has repeatedly been tested over the last 2 years, and is more powerful than the medium term resistance level.
2. Price is currently at the top of the wedge. A break of resistance sets up a run to all time highs, with pull backs around 1915.00 and 1965.00. I expect price to move higher swiftly after a break of 1820.00.
HD Triple Support Convergence1. Home Depot is nearing three distinct support indicators that converge at the 290.00-300.00 range. The 200 EMA, trend line from October 2019, and trend line from March 2020 all meet within the 290.00-300.00 range. Price currently sits above this range, and tested 300.00 in the previous few months. The three supports in this range should serve as a launch point for price, and price can retest the support before more upside.
2. The lower end of the support zone (290.00) was a notable resistance point on two different occasions during October 2020. Now it acts as a strong support, and price should hold on to this level with much strength. It is a good confirmation to the other trend lines.
3. Relative strength index shows a repeated pattern that has been followed by significant upside on two recent occasions. For RSI to reform this pattern, price needs to pull back to the support level and consolidate. After a confirmation of the support level and a reset of RSI, shares can move decisively to upside.
BA Filling Out Huge Triangle1. Boeing is filling out a huge triangle, with the base formed by the 75% price drop from March 2020. It has consistently tested the bottom leg of the triangle and responded with strength, each time reaching the top leg of the triangle. The triangle is narrowing around current price, and a break to the topside would yield significant upside after this long consolidation. Repeated strength at the bottom leg is significant to the bull case, and currently indicates upside strength.
2. There was a fake breakout of the triangle in March of 2021, forming a small peak at 260.00. A few months later, price touched the top of the triangle at 258.00. The next target on the triangle is around 262.00, so the resistance range is 258.00-262.00.
3. Price just tested the bottom leg of the triangle, and the 200 EMA (blue) has fallen out of the triangle. For the bull case, the 200 EMA needs to cross back into the triangle for confirmation of a continued uptrend. Following this, price should test the top of the triangle and continue to fill it out. Earnings at the end of the month could weigh heavy on price, and a positive report can break the triangle to the upside.
EBIX the Mother of All GapsThis small cap gem should be a fun one for swing traders as the asset has nicely put in higher lows and higher highs in price for the last 15 months or so.
And now at this moment it has 2 nice bullish setups going for it:
1) support at its $31 dollar level where there is also the 21 MA just below it as well.
2) a giant crater of a gap that needs to be filled still at around $47.15.
If the price was to fill this gap that would result in a +35% move to the upside from where we currently sit.
The ultimate target sits around $54, however.
If this $31 level continues to hold, lookout as this asset could move quickly.
Weekly candle close below $31 would be enough risk for me to exit the trade.
Keep that bearish scenario in mind as many traders may be attempting to play this gap also.
Kusama (KSM) Looking Strong Good UpsideI know the market sentiment has been "extremely bearish." And we are in a bear trend, I wouldn't consider this a bear market officially just yet. Now is the time to really start thinking which projects will perform when we inevitably overcome the cloudy summer season of FUD storms and on to sunnier days in cryptocurrency. Kusama is looking strong and will most likely be at the forefront of the next DeFi Mania wave along with Polkadot (DOT) of course as these projects are going to be key cryptocurrencies in the expansion of DeFi. The Kusuama parachain auctions have have started and will be live for the next couple of weeks.
With this recent Bitcoin dip there was a massive sell off as many people are getting out of their Alt coin positions. We formed a nice and important bounce for Kusama starting to form a new level of support after this capitulation . Of course if Bitcoin experiences another massive plunge bringing it deeper in $20ks then we could see this support easily broken bringing down below the $100 range.
Only 10 million coins already 89% through its circulating supply. Keep Kusama on your radar.
Litecoin LTCUSDT - potential breakout soonHello,
Litecoin is looking interesting as it continues to trade in a symmetrical triangle figure without being able to break in either direction, still it is rarely registering big losses %-wise compared to the rest of the majors. The price is now hovering around the March correction low of $170 and the POC line (Point of control) and is ready to reach the break point
A potential break out of the triangle in an upward direction can result in a upside reversal as the price can clear the 21-period EMA in combination with the horizontal resistance and the 23.60% Fibonacci level at $190. Then no resistance up to $230.
So, what we can expect here is a retrace to $160 - lower boundary of the triangle and current local support, then reversal with the above-mentioned parameters.
Regards
SOL - what retrace levels to expect after the solid rally Hello all,
SOL has been on a pretty solid uptrend recently. The coin last bottomed at $25.5 on 30.05 and since then has rallied more than 70 percent to the area above the $40-$42 resistance zone.
If we zoom out we will see that on the Weekly timeframe the SOLUSDT pair respected the long-term uptrend and did not allow a break blow the 21-period EMA perfectly rebounding from it in the last two weeks.
Going lower to the daily timeframe, the pair retraced by 67 percent during the last major pullback, but still managed to stabilize around one of the previous demand zones from back in April, 2021. It recovered quickly to test the $35 zone, which is of great significance since it successfully broke SOL's freefall on May 20 (it was also a serious resistance from back in late April). The move resulted in another pullback from which SOL came stronger turning $35 into support.
We come to the main part, which is the current trading zone of the Solana token. We can see clearly that the $41-$45 zone is a though one to break given the fact it is an old range already fortified and tested multiple times in the 26 April - 16 May period. It is also where the 61.80 percent Fibonacci level is located from the last pullback - the most important Fibb level in my opinion if we are looking for reversals. What is more, the Point of Control is placed exactly here, which means the trading activity in the zone is extremely high.
A retrace from here is imminent for the above-mentioned reasons. I will be looking for a long re-entry in the $39-$40 area just because going lower will open the door to a full retrace to $35 and another test of the support + it will mean a confirmed break of the 21-period EMA on the daily timeframe.
Second target for longs will be $37 - May 26 peak + 21-period EMA on daily
Regards,
Tesla Poised to Climb Towards $700.00The share price of Tesla seems poised to appreciate towards the psychologically significant resistance level at 700.00 over the med-term. The prominence of this level is derived from the fact that it is positioned remarkably close to the 23.6% Fibonacci retracement.
The latest upswing originated from the 38.2 per cent Fibonacci. The reinvigorated bullish commitment stems from the fact that this rebound also occurred from the 200-day MA (in orange). Not only that, but the price action also appears to be developing a Double Bottom pattern, which entails mounting bullish pressure.
However, market bulls should watch several key developments. First, the Stochastic RSI indicator indicates peaking buying pressure, which could potentially imply that the upswing may be interrupted soon. Moreover, the price action would also have difficulties in breaking out above the 50-day MA (in green) and the descending trend line (in red).
HBAR/BTC Breakout Coming?Hedera Hashgraph (HBAR) has massive potential against BTC in the coming days/week. Its ATH versus BTC is around 0.00000850 BTC for 1 HBAR.
It currently stands at 0.00000540. However, based on a wedge that has been building up in this pair, we could soon see it around 0.00000600 HBAR/ BTC , with no upside limit after it breaks out of this channel. I cannot post images as my account is new :(
I am watching to see if it breaks 0.00000575.
Let me know what you think!
Bitcoin - $48k then Bounce! Buy that Dip!Price has broken out of our descending channel today after crypto bulls entered back into the market after a dip to end last week as people sold their crypto assets because of Biden's fundamental announcement surrounding the Capital Gains Tax.
Will we see another push to the upside across the board on crypto this week after BTC dipped to as low as $48k?
Keep an eye on these three key levels marked on the chart!
Any crypto questions, fire me a direct message!
Have a great trading week!