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Fibonacci Extension

Daily ETH 1DChart - resistance and supportHello everyone, I invite you to review the chart of ETH in pair to USDT, also on a one-day interval. First, we will use the yellow line to mark the uptrend line above which the price is currently holding. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, and as you can see, it is worth marking the strong support zone from $ 1757 to $ 1666 in the first place, but when the price drops below the zone, we can see a drop around $ 1533.. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first significant resistance zone from $1989 to $2054, then a strong resistance at $2142, only after breaking above this resistance will the price move towards $2391. The CHOP index indicates that most of the energy has been used. The MACD indicator is in a downtrend. On the other hand, on the RSI we are moving around the middle of the range, which may cause the price to break down towards the previously mentioned support zone.
by cryptodailyuk
Daily BTC 1DChart - resistance and supportHello everyone, welcome to Thursday's Cryptocurrency Review. Let's start by checking the current situation on the BTC pair to USDT, taking into account the one-day interval. First, we will use the blue lines to mark the uptrend channel in which the BTC price is moving at the lower limit. Now we can move on to marking the places of support in the event of a correction. And here in the first place we have support that currently holds the price at $ 26692, then it is worth marking a strong support zone from $ 25298 to $ 23979, however, when we fall below this zone, we can see a drop around $ 22002. Looking the other way, in a similar way, using the fib retracement tool, we can determine the places of resistance. First, the price has to break through the strong resistance zone from $ 29050 to $ 29887, when it manages to break it, we have strong resistance at $ 31053. When it manages to overcome it, the price will be able to move towards the resistance at $ 34324. Next, it is worth looking at the EMA Cross 10 and 30, which so far indicate a downtrend. Please pay attention to the CHOP index which indicates that most of the energy has been used, the MACD indicator indicates the maintenance of the local downtrend, while the RSI after rebounding, a small price increase will give a visible movement on the indicator, which may pull the price lower around the previously defined support zone.
by cryptodailyuk
PEPE - 77% crash ready, but re-buy exactly here! (best meme?) I think PEPE is a great coin, but we need to buy it cheaper. The 0.618 FIB retracement is a reasonable level to buy the PEPE coin if you believe in another pump. There should be one more pump to new all-time highs after the ABC correction. This coin is very volatile, which is definitely a good sign for all traders because the volatility increases the chance of success. But for holders, the volatility can be something like a roller coaster. 77% dump is very possible. If we take a close look at the waves from the start of the small bear market, we can clearly see an impulse of 12345, which suggests pretty strong selling pressure. It indicates that the ABC correction is probably in play, and we need to complete it before we can continue to a new all-time high. PEPE coin is ranked #66, which is still not that high. It's a pretty good meme coin, and that's why I think the bull market is not over yet. I recommend this coin for all intraday and swing traders because the volume is pretty high and the volatility is as well. In this analysis, I told you where to buy PEPE for another huge pump if you are interested in this coin but don't want to FOMO-in! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
164
$EURCAD Can Rise Now #EURCADTraders, EURCAD has been falling nicely and gave us a very good short trade. Now it has completed an M pattern in a medium time frame. When the M pattern completes the market goes up. So we can expect this market to rise up any time. Beware that this can still form an extended M pattern as we have a trend lines cross. So trade what you see and only with a confirmation. Please support this analysis by liking and sharing. 👍🙂 Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade setups, and updates on this analysis ✅ Don't hesitate to share your ideas, comments, opinions, and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content of this analysis is subject to change at any time without notice and is provided for the sole purpose of education only. Not financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
Long
by vikinsa
2
Bitcoin is starting something big! (Elliott Wave) Bitcoin is very bearish, and I expect lower prices. We have a strong bearish Elliott Wave base (a symmetrical triangle), and on the chart you can see my primary Elliott Wave count. This strong Elliott Wave base is an indication of a big crash. The price should not go above 27666 (only a wick is allowed above this level). This is a strong resistance because of the previous wave (1), and wave (4) should not go into wave (1) territory. But I have an exception for this ruse, so I allow a very small overlap. Usually there are a lot of orders, and the market wants liquidity, which is why sometimes they overlap. Also, it depends on exchanges. The bullish Elliott wave count is different. The symmetrical triangle could be an ABCDE triangle wave B, and we have just finished the ABC correction. In this case, the ABC correction could be completed, and we are ready to go above 31k. It's possible, of course, but my primary outlook is bearish. But if you are bullish, you can take this count into consideration. In the next few weeks or months, Bitcoin will reach 21k and 15k after that at the end of the year. 10K is possible. We need more data to establish the target for the bear market, and we need to wait for the price to develop. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. What I personally recommend is to take only shorts on futures and avoid longs until the end of the year. This s a quick update on BTC. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
138
Daily ETH 4HChart - resistance and supportHello everyone, I invite you to a review of the chart of ETH in pair to USDT, also on the single daily timeframe. First, with the blue lines, we can mark the uptrend channel in which the price is moving, while locally, with the yellow lines, we can mark the local downtrend channel. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and as you can see, we have the first support at $ 1755, which has managed to hold the price so far, the second support at $ 1663, and then the third support at $ 1534, which is on the verge of exiting the bottom of the channel uptrend. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we first have a resistance zone from $ 1837 to $ 1892, then there is a second resistance zone from $ 1943 to $ 1988, and then we have a third resistance zone from $ 2058 to $ 2140. The CHOP index indicates that there is still energy left for the continuation of the movement. The MACD indicator is in a downtrend. On the other hand, we see a rebound on the RSI, but there is still room for the price to go a little lower.
by cryptodailyuk
May12: BTC (3D) Updating prev LT projection, time to deploy LongUpdate to prev BTC (3D) LT projections. Next retracement low likely occur end-May to early-June. By mid-Sept, we will be back >30K, likely higher. Also added highlight: 1st LT target @ $99.6k-$119.5k Further technical targets being: $170k, $200k Final technical target: $250k (may under/overshoot this, depending on then global monetary policies / government regulation aka intervention) #BTC #BTClongterm Original post:
BITFINEX:BTCUSDLong
by jeanne_k
Ethereum - Weekly bearish flag will send ETH to 618 USDT (gg) Ethereum shows a lot of weakness on the major timeframes. You can see that the downtrend was pretty steep, and now we are in a consolidation phase. If we take a closer look at it, this is not even an uptrend; it's more like a sideways bearish flag consolidation. A trendline from 2015 on the ETHBTC chart is breaking down, which is a significant bearish technical event. Make sure you check out the trendline in the related section down below! Now the question is, "What will be the bottom on ETH?" We use the Fibonacci extension tool from the start of the bear market to wave A and wave B, which will give us a 0.382 FIB projection. This is a reasonable target for the final dump (618 USDT). This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. You can see my Elliott Wave count on the chart. I don't know what's yours, but you can take some inspiration. A lot of people are very bullish at this moment, but the chart does not look bullish. The previous downtrend from 2021 - 2022 was extremely steep and impulsive, which you do not want to see as a bull. We need to finish the major ABC correction to start the true bull market. ETH is going sideways. It has been almost 1 year of sideways price action. I don't see anything bullish, and it's better to sell all your ETH if you haven't already and short ETH to make money. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
152
GBPJPY 170.223 -0.12% LONG IDEA 🐮📈HELLO EVERYONE HOPE EVERYONE IS DOING GOOD. * Looking at GBP/JPY INTO THE NEW YORK SESSION 1. Opened the week by taking previouse week BSL. 2. BEAUTIFULY trending towards the sell side. 3. momentum is perfect not too agressive so we can confidently presume we are in a correction towards the 61.8 % fib or 50 % before continuation. 4. Looking at that unfilled FVG as a possible entry with the bulls . 5. TARGET would be the the BSL & THE DAILY -OB. lets see how it goes. IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
Long
by PULEMokhothu
MKR/USDT 1Dinterval ReviewI invite you to review the MKR/USDT chart, for a one-day interval. As we can see, the price is constantly bouncing off the downtrend line, but it is worth noting that these bounces are getting smaller. Let's start by marking the support spots for the price and we see that the first support that the price is currently based on is $ 683 and is located at the golden fib point of 0.618, however, if the price goes lower, we have the next support at $ 604, then the third support at the last low of $ 500. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the first significant resistance is at $ 742. We continue to have strong resistance at $ 789, once the price breaks it it will move towards the resistance at $ 834 and further to the resistance at $ 897. When we turn on the volume indicators, we can immediately see that it has been very low for a long time. The CHOP index indicates that we have a lot of energy for the upcoming move, the MACD is fighting on the verge of returning to the uptrend, while the RSI is moving in the lower part of the range, but we have room for the price to go lower, which could pull the price towards the $ 604 support.
by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of four hours. First, we will use the yellow lines to mark the local triangle in which the price is currently moving. Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking a very strong support zone from $ 28038 to $ 27560 in which the price is currently located, but when we fall below this zone, we can see a drop around $ 26882 and even $ 26022. Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we will mark the resistance zone from $ 28659 to $ 29195, when it manages to break it, the price will have to break through the resistance at $ 29711, and then the third resistance at $ 30466 only when it breaks out above and then positively tests it, we will be able to see further increases. It is worth paying attention to the EMA Cross 10 and 30, where we see confirmation of the transition to a downtrend. You should watch the red line when it starts to curve upwards, which can give a trend reversal. Please pay attention to the CHOP index, which on the four-hour interval indicates that the energy has been used and begins to rebound, the MACD indicator indicates the maintenance of the local downtrend, while the RSI has touched the lower limit of the range, which may give a break in the correction.
by cryptodailyuk
10
HEX back to ATH for Christmas 2023? Could be!I've got a feeling... So, my call for Hex's bottom got a bit messed up as TV decided to re-generate the chart or something. That means my previous charts won't load, but my bottom target box was hit (check the related chart), and we've seen some nice moves since then. With Richard Heart's ETH-Fork Pulse Chain launch looking like it's just around the corner, there's a bit of a fundamental twist to my analysis. But getting back to all-time highs is just what good crypto projects do, right? Why Christmas? Well, bull markets often have a wild festive period, even if they keep climbing later on. So, I thought, 'Why not? It's got a fun vibe to it.' Now, the waves might not play out exactly as shown, but something along those lines seems likely. I've always relied on Fibonacci extensions for targets, and they usually match up well with previous levels when you look back. Good luck and have fun out there!
Long
by PhilHumphreys
$CADJPY Can Rise #CADJPYCADJPY has a similar pattern as USDJPY. Please see the attached USDJPY analysis: Please support this analysis by liking and sharing. 👍🙂 Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade setups, and updates on this analysis ✅ Don't hesitate to share your ideas, comments, opinions, and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content of this analysis is subject to change at any time without notice and is provided for the sole purpose of education only. Not financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
by vikinsa
BNB/USDT 1DInterval Resistance and SupportHello everyone, let's look at the BNB to USDT chart on a single day timeframe. As you can see, the price is moving below the local downtrend line. Let's start with the support line and as you can see the first support at which the price is currently located is $ 324.8, if the support is broken then the next support is $ 318.8, $ 310.4 and $ 299.1. Now let's move on to the resistance line, as you can see the first resistance is $ 328.2, if you manage to break it, the next resistance will be $ 332.4, $ 336.3 and $ 342.6. Looking at the CHOP indicator, we see that there is a lot of energy for the upcoming move, the MACD indicates an ongoing downtrend, while the RSI is moving around the middle of the range, which makes it difficult to clearly determine the direction of the price.
by cryptodailyuk
Bitcoin - Final pump to 32k before a crash to 15k! Bitcoin may be ready for a final impulse wave to the upside before it collapses to 15k! On the chart, we can see an ending diagonal wedge pattern (3-3-3-3-3), which is why we could finish it at around 32k-33k. This will be your lifetime opportunity to short Bitcoin and ride the massive bear market that will follow! Do not buy any altcoins or Ethereum because it's totally dead and only Bitcoin may pump to new highs. The 0.382 FIB extension is right above the previous wave 3. This is a very strong level because it's the inverse of the 0.618 FIB, and usually Bitcoin reacts to it. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. I am of course very bearish for Q3 2023 and Q4 2023. As you know, I expect a big crash to 15k, but this could be the final uptrend to 32k. Right now I am out of the market and do not have any open positions, but I am going to open a short at the top of the wedge / 0.382 FIB extension. I am already prepared for the bear market, so it is better to stay in USDT, sell spot positions, and trade futures. If you think this is a reasonable Elliott Wave count, you can go to intraday charts and find some longs. Also, if you are already in a short position on futures, you can open a temporary hedge to protect yourself from this final wave. I do not trust this pump from 19k, because it shows a lot of signs of weakness, such as ABC waves. This analysis is my bullish scenario because I have always prepared bearish and bullish scenarios. Take my Elliott Wave count into consideration for your trading. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
215