Get started

Wave Analysis

Bitcoin’s breakout above $73,000, target of $75,000 to $77,000Here's a technical analysis based on your Bitcoin (BTC/USD) chart: 1. **Current Price and Key Levels**: - **Current Price**: Bitcoin is trading around $72,595. - **Breakout Level**: The price recently broke through the $73,000 resistance level, indicating a strong upward momentum. - **Support Levels**: Key support levels are visible around $66,593 and $54,896. 2. **Trend Analysis**: - Bitcoin is in an uptrend channel, with higher highs and higher lows forming. - The breakout above the $73,000 resistance signals potential bullish continuation. 3. **Target Levels**: - **Short-term Target**: Based on the channel and breakout, the next target range is around $75,000 to $77,000 . 4. **Stochastic RSI**: - **Current Stochastic RSI Level**: The Stochastic RSI is around 67.25, showing that it is nearing the overbought zone. - If the Stochastic RSI enters the overbought zone, it may indicate a potential pullback or consolidation. 5. **Volume**: - The net volume is relatively low, suggesting that the breakout might need more volume support for a sustainable uptrend. Summary : Bitcoin’s breakout above $73,000 indicates bullish momentum with a possible target of $75,000 to $77,000 . However, watch for overbought signals in the Stochastic RSI, which may indicate a pullback. Maintaining support above $66,593 will be crucial for the bullish trend to continue.
BINANCE:BTCUSDLong
by Z4F4R
XLE BearLong Term Bearish on XLE The deflation narrative is now the contrarian narrative . However, XLE the SPDR Energy giant is signaling a hefty drop on the 3M stochastic RSI . This signal has been produced 3 times in the last two decades leading to multiple 50%+ drops in value of the fund. The 5-wave impulsive move looking for a similar 3 wave a-b-c corrective wave down to it's most recent corrective wave. The yield curve un-inversion (zoom in on a 10Y/02Y) is signaling the opposite of the media narrative of higher rates for longer (pending Trump). However, I believe bond bulls are preparing for economically stormy waters in equities. XLE appears to reflect this. Considering Jan '27 70P's for wave A with a PT of 55-65$. Not financial advice! . . . . . . Proverbs 14:12 There is way that seems right to a man, but it's path that leads to destruction. Psalm 119:105 Your word is a lamp to my feet and a light to my path. Acts 4:11 This Jesus is the stone that was rejected by you, the builders, which has become the cornerstone.
AMEX:XLEShort
by rhall6451
BTCUSD - BITCOIN seeing strength?Good day traders! Alright. For BTCUSD I'm still seeing the same pattern, however things are starting to look a little more optimistic. The pattern that I've been discussing for weeks now is the series of lower highs and lower lows. Once we break this pattern, then we can start to talk about that move to ATH and ~$85k above ATH. We NEED to break FWB:65K and ideally with above average volume (which I did not discuss in the video). We need a breakout with volume to get some gas in the tank so to speak. If we can do that, it simply increases confidence in the bullish scenario. There's never any certainty in the markets, but from a pattern perspective, we have to break the pattern in order to gain confidence in the next move. Break the pattern to the upside, I believe we'll see new highs. We have yet to break the pattern to the downside, but that is not off the table. I'm simply saying things are looking better from a bullish perspective at this time .
Editors' picks
Long
by bitdoctor
25
We continue to go long on gold todayGold continued to close strongly and stabilized at 2740. From the current market, gold bottomed out and rebounded, the bullish trend remains unchanged, and there is still room and demand for further rise. Today, gold focuses on the support below at 2731. If it falls back and relies on this support, it will continue to go long! Gold fluctuates back and forth at high levels. Gold has not been persistent recently and has been fluctuating at high levels. The 1-hour chart fluctuates at high levels. It is not meaningful to chase more now. The resistance space of gold's previous historical highs is limited. If gold breaks through the resistance of the historical highs, then it will fall back and go long. If the resistance of the historical highs is under pressure, then gold does not rule out another high and fall back, and continue to fluctuate, waiting for Friday's NFP data to find an opportunity to break through. Trading strategy: Today, pay attention to 2735~2731 for support and go long. We continue to be bullish on gold today and be cautious about shorting.
OANDA:XAUUSDLong
by Jun-goldFX
1
XAU/USD Weekly Forecast: Key Market Reversal Zones1. Wyckoff Phases and Key Levels: Phase A (PSY & ST): Preliminary Supply (PSY) marks the area where early sellers start pushing prices down. The Selling Test (ST) occurs as buyers and sellers test the supply. These phases lay the groundwork for a potential accumulation or distribution phase. Phase B (B, AR, Creek, LPS, UT): In Phase B, B and Automatic Rally (AR) represent the initial support and resistance levels. This is followed by a "Creek" or resistance line where price often consolidates below. LPS (Last Point of Supply) and UT (Upthrust) within this phase mark the highs where the price struggled to maintain upward momentum, indicating potential supply zones. The SOS (Sign of Strength) signals the market's strength, potentially leading to Phase C if buyers continue. Phase C (Shakeout): This phase includes a sharp Shakeout where weaker hands are pushed out. This liquidity grab sets up the final push upward. Phase D and E: In Phase D, we observe a final markup with Higher Highs (HH) and Higher Lows (HL) leading into the top where sellers might step in strongly for a distribution phase. This phase concludes in Phase E if a downtrend is established. 2. Elliott Wave Structure: The primary wave count shows completion of Wave 5 at the top. Based on Elliott Wave Theory, this could mark the end of the upward impulse cycle, suggesting the start of an ABC correction pattern. Wave A: The initial corrective leg downward is expected, which aligns with potential selling pressure in Phase D. Wave B: After Wave A, a minor retracement upward could occur as a corrective pullback before continuing the downward correction. Wave C: The final leg of the correction, Wave C, may complete the structure, allowing buyers to re-evaluate for potential long opportunities. 3. Supply and Demand Zones (Smart Money Concepts - SMC): Supply Zone: Located near the highs of the chart, marking resistance and a significant level where institutional sellers may re-enter. Demand Zone: This area is closer to the lows around the PSY and ST. If price moves down, these levels will act as support where buying interest could return. Break of Structure (BOS): Key BOS levels signal structural shifts where the market confirms a new trend direction. Watching for BOS on lower timeframes can indicate smaller trend reversals within the larger correction. 4. Key Levels and Trading Plan for Next Week: W Close Level: This week’s close level will be important for planning trades. If the price remains below this level, we could favor short setups. Invalidation Points: High Invalidation (1W): Located at the top of the wave structure; breaking this would invalidate the bearish setup. Low of the Range (PWL): If the price closes below this low, it would strengthen bearish sentiment. Potential Trade Setups: Sell Setup: If price re-tests the high zones but shows resistance or bearish confirmation, short positions can be initiated with stops above the invalidation level. Buy Setup: If price retraces to demand zones and shows a reversal, there could be potential long setups. A buy setup would look for evidence of absorption of supply before re-entry. 5. Macro Events and Sentiment Analysis: Next week, key economic events (such as Fed announcements or US economic data releases) may influence the USD, which in turn affects XAU/USD. Hawkish Fed sentiment could strengthen the USD, pressuring XAU/USD lower, while dovish sentiment could support a rally in gold. Daily Monitoring: Track price action near the Creek and Supply Zone for early signs of buyer weakness or seller strength, especially leading into economic events. Summary: Bearish Bias: As long as the price remains below the high invalidation point, the outlook leans bearish, expecting a corrective structure. Key Levels: Watch for reactions at high and low invalidation points as well as around BOS zones for early trade entry signals. Events Impact: U.S. economic releases and Fed communications are expected to create volatility, particularly in line with price action around key resistance/support areas.
OANDA:XAUUSDShort
by spacedevil
9