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Fibretracement

BTC Short-Term Review 1H ChartHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As we can see, the price moved upwards from the local downtrend line. After unfolding the Fib Retracement grid, we see that first we have a support zone from $25,994 to $25,787, then support at $25,618, then a second zone from $25,452 to $25,210, and then support at $24,906. Looking the other way, we are in the resistance zone from $26,113 to $26,450, after breaking higher we can see an increase to the resistance at $27,390. As we can see, every energy collected on the CHOP index is used for growth, on the RSI we have reached the upper limit, and the STOCH index has also exceeded the upper limit, which may result in a slowdown in the current growth and a moment of recovery before further growth.
by cryptodailyuk
2
#LOOKS/USDT 1D (ByBit) Falling wedge breakoutLooks Rare finally regained 20EMA support and seems ready to push towards 100EMA resistance. ⚡️⚡️ #LOOKS/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (1.6X) Amount: 5.1% Current Price: 0.06390 Entry Zone: 0.06400 - 0.05740 Take-Profit Targets: 1) 0.07835 2) 0.09165 3) 0.10490 Stop Targets: 1) 0.04620 Published By: @Zblaba BSE:LOOKS #LOOKSUSDT #LooksRare #NFT Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0 Expected Profit= +46.5% | +81.6% | +116.5% Possible Loss= -38.9% Estimated Gaintime= 1-2 months looksrare.org
Long
by TradingOn
Tesla Pullback Targets + Major Bull Signal NearingHi Guys! This is a Technical Analysis on Tesla (TSLA) on the 3 Day Timeframe. So we are continuing the move on Target from our Rejection, our Downtrend held by the Resistance Trend Line. A break and confirm above the Resistance Trend Line will indicate a "Trend Change". Till then we are being pushed DOWN in track on hitting our Targets: 1. 0.618 FIB level, around $224 2. Blue Moving Average, the 100 SMA 3. Green Moving Average, the 50 SMA 4. 0.5 FIB level, around $200 Our 1st target is the 0.618 FIB level, but notice how the 100 SMA is hovering just below it. So its likely that we test both. So the natural order of things is that when Price moves above a Moving Average, we need to test it as SUPPORT before moving higher. So this is why i believe we test both 0.618 level and 100 SMA, since we have not yet tested SUPPORT. Watch how we interact with this moving average. Depending on when momentum comes in (indicated by indicators), we may have a strong bounce here due to convergence of 100 SMA & 0.618 FIB and continue upwards. For this reason, this would be my 1st BUY ZONE. Also Note the 50 SMA: We are currently curved upwards, indicating further movement UP. So this line is continuosly changing. Since currently its ABOVE 0.5 FIB level, this area would be my 3rd target to watch. If we end up breaking the 50 SMA, we may go to the 0.5 FIB level. But for now its less probable. A Major event is also nearing. The 50 SMA/ 100 SMA GOLDEN CROSS. Notice on your own charts, how everytime this occurs, TSLA explodes in price. This cross may also prevent TSLA from reaching the 0.5 FIB level. We would need to keep an eye out on the Macro timeframes for further specifics as well. To get details on the Momentum lets look at the MACD. We have recently crossed BEARISH on the MACD. With increasing size and number of RED histogram bars. We need to see lighter colored RED bars. Eventually seeing GREEN bars for momentum to change BULLISH. Also NOTE -> I'd prefer the BLue/Orange lines stay ABOVE the 0 level, indicating the continuation of the overall BULL trend in TSLA. The STOCH RSI -> Also a momentum indicator. We have moved below the 20 level. It's crucial to watch out for the BULLISH cross (Blue line over Orange line) back above the 20 level. This will indicate injection of momentum back into TSLA. The RSI -> Notice our current pattern where the Orange line has CROSSED below the Black line. Normally this indicates Price Declines. So watch where the downward curve of the Black Line and downtrend of Orange line stops Look for a Bullish cross of Orange line getting ABOVE Black line. And just to give perspective, the Price we are at right now while i post this idea. We are 20% cheaper from th current highs. TSLA has out performed many stocks in 2023. So this pullback presents great opportunity. Continue to watch these levels. Take action accordingly. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. ***Read my Previous Analysis BELOW From 08/03/23 For More Context! Stay tuned for more updates on TSLA in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:TSLAShort
by SafofAllTrades
Shopify Corrective Move and Potential TargetsHi guys! This is a Technical Analysis on Shopify (SHOP) on the 1 Week Timeframe. Since its not the end of the Week, we have to wait till the end of week to see how this week's candle closes. We ATTEMPTED to break ->1. The ORANGE resistance zone above the 1 FIB level ->2. The "MAJOR RESISTANCE" labeled line that represents a RESISTANCE trend that formed from the PRICE TOP. WE WERE REJECTED after trying for 4 weeks (july 10th to August 7th). The 4th weeks candle closed as an ENGULFING BEARISH candle. Note: For price to break any trend line, it requires a minimum of atleast 3 major tests This current one in my opinion, ONLY MAKES 2 touch points. This strengthens the reason of why we got rejected. So far this weeks candle is showing a much SMALLER body than previous weeks. This can be an indication that perhaps SELLING is slowing down. But come end of week, the CURRENT BODY cannot close larger than Today August 9th Candle. We are currently: -> BELOW the 21 EMA -> Breaking the RED Channel i drew out -> 0.786 FIB Level Heading straight to the SUPPORT zone comprising of: 1. SUPPORT Horizontal black line 2. 0.618 FIB Level 3. The base of the DESCENDING Triangle. ***Being a confluence of 3 SUPPORT levels -> I believe us to attempt a bounce from the $53.00 area, maybe to retest the "MAJOR RESISTANCE" trendline In my opinion, its important that we can somehow get back above these key levels come end of week. If we cant, probabilities are pointing towards a small corrective move Especially the 21 EMA, looking left reveals patterns where price can fall for upto couple weeks to even couple months. Which can even validate or increase the probability of the descending triangle to play out If that happens we will test: 1. First, the 0.5 FIB level at $47.44 2. Then the 0.382 FIB level, which is also around a intermediate Resistance turned SUPPORT line. 3. Worst case scenario = Range of 0.236 FIB level at $34.91 to about $23.90 ----->*****going any lower would invalidate the current MACRO BULLISH trend**** -----> But going this low can have create some bullish patterns like a double bottom. But overall its just as of now, less probable. But we have to just focus one step at a time, worrying about a target level, if the previous trend is broken and confirmed. Ex). -> If we break below the 0.5 FIB level and confirm, only then is the 0.382 FIB lvl likely. The STOCH RSI is showing BEARISH move down to the 20 level, we can continue to move below the 20 level and even stay down here for weeks to couple months. But the longer we stay at low levels especially those below 20 level, price tends to decline further. So we need to pay attention to the level it ends up at. The RSI is testing a SUPPORT zone, below it can indicate further price drop. Also notice that the RSI line is below the BLACK moving average. If you look left, if we are below it for extended periods RSI continues to drop, along with price. Keep this in mind. Lastly, the ADX GREEN line, is on a decline, getting close to meeting with RED line. If a cross occurs, more BEARISH momentum can enter the stock. This could increase the probably that the correction continues for a longer timeframe. We would need GREEN line to curve up and try to get ABOVE resistance line. Stay tuned for more updates on SHOP in the near future. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
NYSE:SHOPShort
by SafofAllTrades
#EGLD/USDT 12h (ByBit) Rising wedge breakdownMultiversX just lost 50MA support and seems likely to continue with the local retracement down. ⚡️⚡️ #EGLD/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Short) Leverage: Isolated (5.5X) Amount: 5.0% Current Price: 34.15 Entry Targets: 1) 35.35 Take-Profit Targets: 1) 30.25 Stop Targets: 1) 37.90 Published By: @Zblaba CRYPTOCAP:EGLD #EGLDUSDT #MultiversX #Elrond #eGold Risk/Reward= 1:2 Expected Profit= +79.3% Possible Loss= -39.7% Estimated Gaintime= 2-3 weeks multiversx.com
Short
by TradingOn
#GRT/USDT 12h (Bybit) Symmetrical triangle breakdown and retestThe Graph got rejected on resistance forming a shooting star with an overbought RSI, retracement down to 50MA support seems in play. ⚡️⚡️ #GRT/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Short) Leverage: Isolated (3.8X) Amount: 5.0% Current Price: 0.12445 Entry Targets: 1) 0.13580 Take-Profit Targets: 1) 0.10715 Stop Targets: 1) 0.15015 Published By: @Zblaba CRYPTOCAP:GRT #GRTUSDT #TheGraph #AI #Web3 Risk/Reward= 1:2 Expected Profit= +80.2% Possible Loss= -40.2% Estimated Gaintime= 3-4 weeks thegraph.com
Short
by TradingOn