As you can see, an Elliott wave theory is forming, with its initial starting uptrend at 12/03/22 and its peak at 18/03/22. Now the motive wave (impulse) has completed, we can look forward for the formation of the corrective wave. goodluckk and safe tradingg :)
Reason: - Resistance at 1.3599 My prediction: 1) Reversal at 0.618 line 2) Resistance becomes Support
Reasons for short: 1) 100EMA and 200EMA crossover 2) Graph below 200EMA 3) Trend-Based Fibonacci matches with recent 1785.65 tested supports. P.S - The three arrows are just my prediction of when/where exactly it will reach the tested support with the help of TMA overlay, because it would seem more awesome if I exactly predicted the graph correctly...
1) 20 - 50 - 200 EMA are all above the graph which signalizes a downtrend 2) Doji candles has formed
Updated forecast from the previous forecast I posted
Mostly likely it would go back down to 1766 but in a case of a breakout, we should expect a bull market for the next few hours (after breakout and retest)
Reasons: 1) lower lows and higher lows has formed. 2) 200 EMA is above the graph. 3) Elliot triple wave signalizes an impulse about to happen.
The market will most likely stay around the 0.236 and 0.382 area due to the strong support and resistance present. However, it could drop to the 0.5 line and reverse back up as there is a strong support line there. (Note: this is a test of the Fibonacci retracement solely for learning)
1) 150 EMA is above the graph in LTF, which signals a swing short. 2) Market starts to create Lower Lows and fails to make Higher Highs 3) Imbalance 4) Conformation :Doji candlestick signalizes bearish movement
It is predicted that's going to be a bull market for the next hours as there is an imbalance.
The graph shows a reversal pattern with a breakout and a pullback. The market has been a bull market since September. Market shows a strong support on 1.38224 line. In M30, the 200EMA is above the graph which indicates a bear market for the next upcoming weeks.
Hi there! Welcome to this analysis about Bitcoin , the weekly timeframe perspectives, and the major underlying triangle-formation that I have detected coming in several different variants and timeframes on the lower as well as higher timeframes and varying in amplitude. What is so amazing with the triangles Bitcoin is forming is that they actually are extremely...
4 main reasons why its going to be a bear market for the next months purely on technical and fundamental analysis. 1. It can possibly form a cup and handle pattern because of the EMA30 & EMA50 forming a crossover with EMA200. 2.Fibonacci extension says that its going to drop around 32272.94 if we take the recent lower high as 0.618 line. 3. If the "The great...
TECHNICAL ANALYSIS There's a Reversed descending triangle pattern forming in XAUUSD in the M15 TF. It has showed a breakout and pull backed with multiple signs of a new support, which indicates an upcoming bull market.
Long position at the order block Gold has been in a bull market for quite sometime and remember what goes up always comes down, so in this case, it will drop to these order blocks and we will look for a long position as there are 2 liquidities below the graph