The double bottom pattern that formed on the EURJPY Daily chart after the recent low suggests that there was a period of selling pressure that eventually led to a reversal. The impulse to the upside that followed and tested the daily resistance level multiple times shows that buyers are in control and are attempting to break through this level. Currently, the...
The S&P 500 has been in an uptrend, characterized by higher highs and higher lows. This suggests that there is a bullish bias in the market, as buyers are willing to pay higher prices for the index. The index recently experienced a retracement to the 50% Fibonacci level, which is a common technical analysis tool used to identify potential support and resistance...
Gold has been experiencing a recent drop in price, which saw it test the ascending trend line on a 4-hour chart. After retracing to the 50% Fibonacci level, the market broke below the trend line yesterday and is currently testing a supply area. If the price also breaks this area, it may indicate a bearish continuation, providing a good opportunity for a short...
LTCUSDT has formed a double top pattern as previously mentioned, which is a bearish reversal pattern indicating a possible downward trend. The current price action appears to be testing the M neckline on the $97 area, which is an important support level that could determine the future direction of the asset. IF AND ONLY IF the price breaks below the neckline...
AUDUSD has experienced an impulse move followed by a retracement that found support at an important daily level, specifically the 50% retracement level. The price has since bounced off this support level and has been making higher highs and higher lows. There is a key resistance level at 0.70000, and if the price is able to break above this level, it may provide...
BNBUSDT has lost its dynamic support, which is a technical analysis term that refers to a trend line drawn along a series of recent lows that act as a support level for the price. A dynamic support line is created by connecting at least two lows of the price with a straight line, and as the price moves lower, the line is adjusted to connect with the new lows....
BTCUSDT is currently trading within a descending channel on the 4-hour time frame, as indicated by the previous arrow. The market is approaching a crucial support level at 21000k, which has been previously tested and may serve as an important pivot point for the price action. The 21000k support level is a key price point where there is a significant...
ALGOUSDT is currently testing the ascending channel, with the price hovering around the 0.24$ level. where the market has the liquidity zone A "liquidity zone" is a term used in trading to refer to a specific price range where there is an abundant amount of trading activity and therefore a higher volume of trades taking place. The market is closely watching...
LTCUSDt is currently testing the key level at 96$ area within a rising wedge pattern. A rising wedge is a bearish pattern formed by two upward sloping trendlines that converge, indicating a potential trend reversal. In this case, a false breakout could occur if the price breaches the key level but then quickly reverses and falls below the level. A false breakout...
SOLUSDT is currently forming an ascending channel, a technical pattern where the price is moving between two upward-slanting parallel lines. This pattern suggests that the price is in a bullish trend and has a bullish outlook. However, the price recently faced rejections at the 0.618 Fibonacci level resistance, which is a key technical level for traders. The...
ETHUSDT is currently in an accumulation phase below the weekly resistance. The market has recently printed a pin bar on the daily resistance, which could indicate a reversal of the trend and provide liquidity for the market to start moving in the opposite direction. The current price action is testing the 0.382 Fibonacci level, which is a key technical level and...
Resistance refers to a price level at which selling pressure is strong enough to prevent the price from rising further. The resistance levels can be dynamic, meaning they change over time, or static, meaning they remain at a certain price level. In the case of ZENUSDT, the market is currently testing the dynamic resistance inside an accumulation phase. The recent...
The recent drop in the EUR/USD pair seems to have started a retracement, which is a temporary reversal in the direction of a price trend. In this case, the price has reached the 0.382 Fibonacci level, which is a common level of support and resistance used in technical analysis. The presence of an ascending channel, with the price bouncing off the lower trend...
BTCUSDT got a rejection from the daily resistance after a accumulation phase below it Now the market lost the support and we could see a new bearish leg until the daily support where the market could start to accumulate again Support is a term used in technical analysis to describe a price level at which a security, in this case, Bitcoin, has consistently found...
the price of Dot had a breakout from the falling wedge, leading to amazing profits. The price also had a breakout from a descending channel, which is a bearish pattern characterized by a series of lower highs and lower lows that form a downward sloping trendline. A falling wedge is a chart pattern that occurs in a downward trending market and is characterized by...
After our previous idea S&P 500 (SPX500) is moving in a series of higher highs and higher lows and tested a Fibonacci 50% retracement. If the price has tested the 0.5 fib level and is currently trading below a daily resistance, a trader may look for a break above the resistance to indicate further bullishness. One strategy could be to place a buy order above the...
NAS100USD on the daily chart has created a triple bottom. The market tested a few times the weekly support at the 10700 level and we notice how after the first 2 tests the market went up for a distribution phase. It is interesting to see the liquidity grab before the next bearish leg to the support where, also thanks to the recent news we had a new inversion at...
LINKUSDT is attempting to create a breakout from the resistance level after a recent breakout from the descending channel. A descending channel is a bearish trend line that is formed by connecting lower highs and lower lows. This pattern often indicates that the market is in a downtrend, and that traders should expect the price to continue to decrease. The...