EURGBP on the 4-hour chart after the recent impulse to the upside has tested the 0.618 Fibonacci level. The Fibonacci retracement is a technical analysis tool used to identify potential levels of support and resistance in an asset's price movement. In this scenario, the 0.618 level acted as a support, which was confirmed by the upward price move. Now, the market...
NEOUSDT is a digital asset that recently formed a Double Bottom pattern near the $6 area, and it caused a breakout from a downward trend in its price movement. A Descending Channel is a technical analysis pattern in which the price of an asset moves between two downward-sloping trend lines, creating a series of lower highs and lower lows. Currently, the price of...
The Dow Jones Index is currently facing resistance at the 34,200 level, and the recent speech by Federal Reserve Chairman Jerome Powell has created a bullish sentiment in the market. The trendline for the index appears to be ascending and if the index were to break above the 34,200 resistance level, it could signal a buying opportunity for investors according to...
The accumulation phase is a stage in the trading cycle where buyers are slowly and steadily accumulating an asset, often at lower prices. This process can be seen as a prelude to a larger bullish move, as the accumulation of assets by these buyers can lead to an increase in demand and push the price up. In the case of LPTUSDT, the recent breakout from an...
AUDIOUSDT has had a significant price surge following its listing on COINBASE. The asset saw a clear breakout from the daily resistance and captured new liquidity at the 0.25$ area. Currently, the market is forming a new breakout from the 4-hour dynamic resistance. As traders, we are waiting for a potential retracement on the 0.618 Fibonacci level before...
SANDUSDT is currently trading near the monthly level at 0.81$, with the market forming a descending channel between the resistance and the 0.5 Fibonacci level. The price is being closely monitored and it is expected to bounce from the 0.61$ area where the market could attract new liquidity. On the left we can see how the price had a breakout from the falling...
The accumulation phase refers to a period where traders and investors are slowly buying into an asset, creating demand and pushing the price higher. In the case of the market, it appears to be creating an accumulation phase below the 25k area, with the current price testing the 0.5 Fibonacci level as new resistance. Traders may be waiting for a breakout above the...
ETHUSDT is in Accumulation phase A descending channel is a technical chart pattern that occurs when price creates a series of lower highs and lower lows, forming two downward sloping parallel trend lines. In the case of ETHUSDT, the descending channel was formed during a previous accumulation phase near the 1100$ area. After the price broke out of the channel, it...
The EUR/USD currency pair was in an upward trend and moving in an ascending channel on the chart. At the top of the trend, the market grabbed liquidity at the 1.1000 level. This sudden and sharp movement to the upside could signal a potential trend reversal and traders should be cautious. The break of the key support level at 1.1000 lead to further declines and a...
USDCHF on the 4h chart creates a series of lower low lower high inside a descending channel. After the test of the support level at the 0.91 zone the market create an impulse to the upside and is currently testing the previous higher low at a confluence zone. If the market is able to successfully break above the confluence zone, it could signal that the upward...
MKRUSDT is currently forming a pennant pattern. A pennant is a technical chart pattern that resembles a symmetrical triangle and is considered a continuation pattern. It forms when price consolidates after a sharp price movement and usually indicates a pause in momentum before the trend resumes in the same direction as before. Traders often look for a breakout...
ATOMUSDT has recently experienced a significant price increase following a breakout from a descending channel. The market is currently testing this descending channel and traders are eagerly awaiting another potential breakout. If successful, the next target for the price could be the monthly resistance, so According to Plancton's strategy , we can set a nice...
The EUR/USD currency pair was in an upward trend and moving in an ascending channel on the chart. At the top of the trend, the market grabbed liquidity at the 1.1000 level. This sudden and sharp movement to the upside could signal a potential trend reversal and traders should be cautious. The break of the key support level at 1.1000 lead to further declines and a...
BANDUSDT is currently trading at the daily resistance level, which is located at the 0.382 Fibonacci level. The price has been trading within an ascending channel, which is a bullish pattern characterized by higher highs and higher lows. An ascending channel suggests that the price is trending upwards and that there is a strong bullish sentiment in the market....
ATOMUSDT appears to have recently grabbed new liquidity from the monthly support on the $8.7 area, creating a breakout that led to profitable trades. Currently, the market is testing a weekly descending channel. This channel represents a period of downward price movement that is bounded by two parallel trendlines. We will be closely monitoring whether the...
the price is creating an inverse head and shoulders on daily timeframe And now the price is testing the previous lows as resistance. An inverse head and shoulders pattern is a bullish reversal pattern that is formed after a downtrend. It consists of a left shoulder, a head, and a right shoulder, with the head being the lowest point and the shoulders being peaks...
The GBP/JPY currency pair, on the 4-hour timeframe, is currently trading within a range between the recent low and the daily 50% Fibonacci level. The market saw a drop from its previous high, but it has now stabilized within this range. This range-bound behavior can indicate indecision among market participants and a potential lack of clear direction. Traders may...
NEARUSDT is currently in a bullish phase after experiencing a rounded bottom pattern, a technical formation characterized by a gradual increase in price after a period of decline. This pattern signals a potential reversal of the bearish trend and a change in market sentiment. The price broke out from the bear flag, a bearish continuation pattern, at the $1.6 area...