NEARUSDT recently had a false breakout from the daily resistance level at 2.8$ area. This means that despite initially breaking above the resistance level, the price was unable to sustain its move higher and eventually fell back down. Now, the market needs to hold the ascending channel, which is a bullish trend line that is formed by connecting higher lows. This...
Gold is currently in a bullish trend, as evidenced by the ascending megaphone pattern on the 4-hour chart. The ascending megaphone is a bullish continuation pattern that occurs when prices are making higher highs and higher lows, and is characterized by converging trendlines that form a megaphone shape. The upper and lower trendlines of the megaphone can be used...
The ETHUSDT pair recently went through an "Accumulation Phase". In technical analysis, an Accumulation Phase refers to a period of time where investors and traders are quietly buying an asset, usually at lower prices, in anticipation of a future price increase. During this phase, the price of the asset tends to range within a certain support and resistance...
The BATUSDT pair is currently forming an ascending channel as it creates "Higher Highs" and "Higher Lows". In technical analysis, Higher Highs refer to a situation where each subsequent peak of the price is at a higher level than the previous one. Similarly, Higher Lows refer to a situation where each subsequent trough of the price is at a higher level than the...
AAVEUSDT has recently formed a "Double Bottom" pattern at the 51$ area. This pattern is a bullish reversal pattern that is formed when the price reaches a certain level of support, retraces, and then returns to that level again before moving higher. In the case of AAVEUSDT, this level of support was at 51$. After the formation of the Double Bottom, the price had...
Following positive news about CELO and OPERA browser, the price has tested the daily support after a clear breakout inside the ascending channel. Currently, the price is approaching a key level at 0.82$ where a static resistance exists on the 4-hour chart. This level presents an important test for the asset's bullish trend. As traders, we will be closely...
Sushi has had a remarkable performance, delivering a gain of over 32% after a clear breakout from the daily resistance. Currently, the price is forming a descending channel on the daily chart. The descending channel acts as a potential bearish reversal pattern, indicating a potential downward trend in price. A descending channel is a technical analysis pattern...
KAVA recently bounced from its monthly support at the 0.66 dollar level, which is indicated by a purple line. The market is currently forming a bull flag pattern below the daily resistance. Traders are eagerly anticipating a breakout from this pattern with high volume, in accordance with Plancton's Rules. This could signal further upward movement for the...
WOOUSDT has seen substantial growth in recent times, as indicated by a return of more than 79% since my previous idea. The market for this asset recently broke out of a falling wedge pattern, with support noted at 0.18. The price has since retested the 0.5 Fibonacci level, allowing it to acquire new liquidity. The next target for this asset is expected to be...
A pennant is a technical pattern in financial markets that is formed after a strong price move and is characterized by converging trend lines, creating a triangular shape. It is a continuation pattern, meaning it signals a potential continuation of the prior trend once a breakout occurs. In the case of ALICEUSDT, the recent bounce from the daily support and the...
A bull flag is a technical pattern in the financial markets that forms after a strong bullish move and signals a potential continuation of the uptrend. It is characterized by a narrow price consolidation period following the initial move, with relatively parallel trend lines acting as support and resistance. In the case of ROSEUSDT, the recent breakout from the...
NEARUSDT, as mentioned, has recently broken out from a descending channel, indicating a bullish trend in the market. The market is now loading for a potential breakout from a static resistance level, providing an opportunity for traders to apply their strategies. The main target for the price remains at $3, and we are keeping a close eye on the market...
An ascending triangle pattern in the AUD/NZD currency pair on a 4-hour chart suggests that the market sentiment is bullish, with the price creating higher lows while being contained by a horizontal resistance. This pattern can be considered a continuation pattern, implying that the upward trend may continue if the resistance is successfully broken. In this...
AXSUSDT is inside the bull flag A bullflag is a chart pattern that occurs in an upward trending market and is characterized by a period of consolidation or retracement within a parallel channel, creating a flag-like shape. The pattern is considered bullish as it often precedes a continuation of the uptrend. In this case, AXSUSDT is testing the 0.618 Fibonacci...
Gold has been in a bullish trend, however the recent price action suggests that the momentum is losing steam and the price is trading above the 1900 area support. This can be seen as a sign of consolidation or a potential pullback. Traders should keep a close eye on the 1900 level, as a break below this support could signal a larger pullback. On the other hand,...
An ascending channel is a technical chart pattern that occurs when price creates a series of higher highs and higher lows, forming two upward sloping parallel trend lines. In the case of ALGOUSDT, the pair is inside an ascending channel below the weekly key resistance at 0.27$, where the price has bounced several times in the past. The price currently needs to...
In technical analysis, a distribution block is often viewed as a sign that the market is losing steam after a strong bullish trend. This can be an indication that the market is starting to correct itself, and that the trend may be reversing. In the case of GBP/USD on the 4 hour timeframe, the price breaks below the distribution block and If then will retests the...
BNBUSDT is forming a pennant pattern, a technical formation that is similar to a symmetrical triangle and signals a continuation of the current trend. In this case, the pennant is forming below the supply zone at the $320 area, indicating that the price could be subject to further selling pressure. Additionally, the price has had two false breakouts, which occur...