On the 4-hour timeframe, Bitcoin's (BTC) current price of around $98,600 aligns with a potential short-selling setup targeting $92,000. Here's a breakdown: 1. Resistance: BTC faces selling pressure near $99,000-$100,000, a strong resistance zone established during its recent consolidation phase. 2. Momentum Indicators: Many technical signals indicate overbought...
The U.S. Dollar Index (DXY) currently reflects a bearish trend on the 4-hour chart. The immediate resistance is around 106.620, while the current price gravitates towards the support level at 105.250. This downtrend aligns with technical indicators signaling potential bearish momentum. Recent trading data confirms a drop to around 105.93 during the last session,...
Trade Setup at 2640 Sell Entry: If you're not already in, this is a good price to sell, as the bearish trend remains intact. Target: 2615 This offers a 25-point potential move downward. Stop Loss: Place it at 2648–2650 to minimize risk if there’s a reversal.
With gold currently at **2646** and the **1-hour trend showing bearish momentum**, this aligns well with your sell entry at **2647** targeting **2622**. Here's OANDA:XAUUSD how the setup looks: Current Position Analysis: *Price**: 2646 -Trend**: 1-hour timeframe bearish (indicates downward pressure). Strategy Insights: 1. **Entry Timing**: - Since the...
1. Support Zone Confirmation: $2,650 is a critical level near the 23.6% Fibonacci retracement, which has acted as support in recent sessions10 12. A bounce from this area would validate the entry point. 2. Resistance at $2,670: This level coincides with minor resistance on intraday charts and is a modest profit target within the current consolidation zone. It...
1. Spot Price Around $2630: Gold is fluctuating near the $2630 support zone. This level is critical as it could determine the direction of the next move. 2. Scenario if $2630 Breaks: If the price breaks decisively below $2630 with strong volume, it could extend the bearish trend towards $2600 or even lower. The next support levels to watch are $2600 and...
If you're considering a **sell around 95,000 USD** for BTC with a **target of 91,500 USD**, this strategy implies you expect the price to decline further. Here's how you can refine your trade plan: BITSTAMP:BTCUSD --- ### **1. Entry Zone Analysis** - **Sell Trigger**: Selling at **95,000 USD** suggests it's significant, likely near a minor resistance or...
The DXY (U.S. Dollar Index) appears bearish on the 4-hour chart, currently trading downward within a channel. The recent rejection near 106.750 has reinforced resistance, and the price is trending lower, nearing 105.650, which aligns with key support levels. If this bearish momentum continues, the index could aim for stronger support zones, such as 105.500 or...
### 1. **Technical Correction** - **Overbought Conditions**: If gold has been rallying for an extended period, it could be facing an overbought situation. Technical indicators like the **Relative Strength Index (RSI)** or **Bollinger Bands** might suggest that the asset is due for a short-term pullback before continuing its upward momentum. - **Key...