2HR TF EURUSD SHORT TRADE IDEAWith the Dollar set to continue it's rally, I look to see EURUSD run lower and run through the recent daily lows as stipulated...This is just a classic OB SETUP.
Fundamental-analysis
S&P 500 AnalysisPros listed in green.
Cons in red.
From a technical standpoint the S&P 500 looks to be heading south, don't jump into a short position just yet though as price is currently entering into an important level of support.
Wait and see how it plays out.
From some simple fundamental analysis using my 2 favourite leading US economic indicators we can see that;
ISM PMI
The ISM PMI is currently below 50 which would give us a short bias, however, we can see that the index is heading back towards the 50 level. This means that the index is below 50 and growing, which gives us a weak short bias. In this instance we would want to be neutral and take no position at all, or take a very small position.
UMCSI
The next indicator is the University of Michigan Consumer Sentiment Index (UMCSI).
This is a survey of consumers conducted by the University of Michigan on a monthly basis.
At the moment we are seeing the indicator currently sitting at 69 and approaching the 70-80 range at a healthy pace. This would also back up the possibility of us being market neutral for the time being, or taking a small position.
I would post snapshots of these charts but TradingView wont let me.
BTC/USDT 1D Interwal 40000$ or 31000$Hello everyone, I invite you to review the current situation on the BTC to USDT chart, taking into account the one-day interval. We will start by marking a strong downward trend line from which the price moved sideways, and currently we can mark the upward trend channel in which we are moving with blue lines.
Now we can move on to marking support areas in the event of a correction. And here, first of all, it is worth marking the support zone from $30,687 to $27,750, but when we fall below this zone, we may see a drop to the area of the second zone from $23,135 to $19,884.
At this point it is worth looking at the EMA Cross 50 and 200 as we can see that the yellow ema cross 50 line has returned above the blue ema cross 200 line, confirming that the strong uptrend is continuing.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. Here you can immediately see the fight against the strong resistance level at $35,931, which currently lacks the energy for a larger move, but when the price overcomes it, it will have an open path towards the strong resistance zone from $42,223 to $48,495.
Please pay attention to the CHOP index, which indicates that the energy at this moment is mostly used, the RSI and STOCH indicators clearly exceed the upper limit of the range, which may negatively affect the BTC valuation and translate into a recovery after such a dynamic increase. In such a situation, we could see a rebound towards $31,000.
$BTC won't hit $16000 below 📍 Hello 👋 it's me your RAJ 🙂 professional trader ✨
This idea 💡 is completely my own analysis to explain situation on market conditions why bitcoin
🪙 BITSTAMP:BTCUSD will not reach $16000 below 📍 it's completely my view 🙂 #DYOR
Note 👉 if BINANCE:BTCUSDT day close above $32k no visiting $20k
👉 80% technical analysis comfirm no new low 🔅
👉 market sentiments and other sources with history cycle CONFIRM no new low 🔅
👉 month candle close above FWB:36K we entered complete 💯 bull 🐂 run BITSTAMP:BTCUSD
📌 why I am bearish in short period ⏰
👉 TVC:DXY is pumping still top 🔝 was not completed 📌 expecting $108 - $110
Majority of ALTS $TOTALMARKETCAP2 not showing any upside 🚀 move
still considering down side 🩸 still expecting bottom to ALTS so this one of reason
BINANCE:BTCUSDT consider bearish 📍 untill alts completed bottom and confidence move upside 🚀
👉 in my opinion better to accumulate BITSTAMP:BTCUSD 50% around $27000 remaining below $23000
Is very good 👍 if u wait for FWB:23K below just flip of movement enough miss u complete chance
Use 🧠 always keep 20% back-up as per ur portfolio
, it helps when there was " wars " or economical damge
👉 I am expecting $22k
👉 if really BITSTAMP:BTCUSD reach $16 sign 🛑 new low 🔅 then I close 40% my bag 💰 after comfirm 👍
I will re-buy , $16000 is range bond broken zone 📌 reaching there lose market value
it's sign BITSTAMP:ETHUSD reach new low 🔅 even damage total market cap also 📌
use basic knowledge , now BTC turn major index to whole Crypto 🔮
👉 how can we confirm when BITSTAMP:BTCUSD hit FWB:23K below 📍 that local bottom is completed 📌
It's very simple 😅 when month closed 🔐 above FWB:25K strong 💪💯 🔥 area 📌
sign ☢️ local bottom is completed 🚀
👉 when TVC:DXY left ◀️ parabolic curve 🪝 it's other comfirm 👍
👉 keeping comments , reacting with emojis , pointing us is very easy to some people
They think 💬 what they see 📌 that was knowledge 📌
We need to learn market in many ways and should get adopted with experience, TECHNICAL ANALYSIS won't help understanding market structure and understanding bull 🐂 and bear 🐻 is more important
Economical conditions
Fundamentals
Technical
News
Sentiments
Checking macro to micro having good plan and build it is very important ☺️
Some Times market easily turn suddenly bear // bull 🤣 even we need to catch 🫴 those movements is also very important ☺️ 💛
I hope i cleared my view 🙂 if any points if I miss I will add in update 📌 post
Try to understand, try to learn - try to move with flexibility with market is important
Have good day 😊
#Verizon a recovery buy? NYSE:VZ Verizon Communications Inc. has recently released an impressive earnings report, surpassing expectations across the board and increasing their Free Cash Flow (FCF) guidance by a substantial $1 billion compared to their previous guidance. This announcement has injected new life into the stock, and it's evident in the pre-market trading where VZ has surged by almost 4%.
The current outlook for VZ is highly favorable, and here's why: A bullish divergence is emerging on both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators, particularly on the weekly timeframe. This divergence suggests that the stock is poised for a recovery, possibly leading to a profitable swing trade opportunity for investors.
Furthermore, VZ presents an additional allure for long-term investors. With a generous dividend yield of over 8%, this stock becomes a compelling choice for those seeking a stable, income-generating investment.
In summary, the combination of robust earnings, a notable increase in FCF guidance, and the promising technical indicators on the chart indicate a strong potential for VZ to recover from recent losses. Whether you're looking for a shorter-term swing trade or a long-term income play, Verizon is shaping up as an attractive option in the current market landscape
XAUUSD | SHORT BREAK BEFORE THE NORTH TRIP?Gold has been trading in a descending channel since May. But something had to happen after bottom got rejected... unfortunately it was war. Eastern conflict launched XAUUSD to the first checkpoint before the Moon. It broke through semi-channel resistance, static resistance at 1945, main channel upper dynamic resistance and finally stopped just below psychological 2000$.
As you can see on my chart, latest rally from 1809 is very similar to the one from March. Same start and almost the same finish. If "copy" will be correct then we might see correction to 1945 first. Once we are there, most likely scenario (depending on upcoming US data and FOMC decision + uptades on Eastern conflict) will be bounce off from this lvl and preparation of the rocket for retesting -> eventually breaking through the 2k.
On the right side you can see dotted lines with prices, these are Camarilla pivot points based on the weekly candle. In case you don't know, Camarilla points are the better (for most) version of classic pivot points. These are much more accurate since the levels are much more closer to the actual price action. Based on basic Camarilla's strategy, rejected 2005.46 will turn market to a short-term bearish sentiment . Breakout of 2029.91 would take us to retest all time high . Rejected 1956.56 would turn the bias bullish, and finally, breakout of 1932.11 could take us deeper to the south .
Lately, most of the US (bullish for dollar) data was ignored by traders, and Gold kept going higher, along with DXY index. But most importantly, FED members with Jerome Powell on the top, shifted narration to more dovish one. By the time of writing this idea, traders bets 75% that there won't be more hikes this year. 99.9% that upcoming November's meeting will result in another pause (that's why you need to focus on the narration).
Situation in the east is still tense. With warning of ground invasion on the line. Not to mention recent visits of Joe Biden and Rishi Sunak. Those two personas are leaning for the hold of the recent mentioned invasion. It's very important to follow the news and uptades on this topic, since it's a main driver for save-haven metal like Gold.
Hope you'll find something useful in my analysis and opinion. Feel free to share your thoughts and thank you all for reading this! Take care
Analyzing GOLD: Market Dynamics and Trading strategyThe XAU/USD currency pair, a dynamic interplay between gold and the US dollar, is currently navigating through pronounced market fluctuations. In this comprehensive analysis, we will delve into the intricate interplay of fundamental factors steering the value of XAU/USD. Our focus extends to the looming potential of The Federal Reserve's interest rate adjustments, the consequential shifts in the 10-year US Treasury Yield, and the intricate repercussions woven into the fabric of the Russia-Ukraine and Israel-Palestine conflicts.
Moreover, we will embark on a journey through the undulating terrain of gold price fluctuations, deciphering their nuanced implications for the volatility inherent in this currency pair. As we scrutinize both the fundamental and technical dimensions, our aim is to provide traders with a nuanced understanding of the multifaceted forces currently at play, guiding them toward informed and strategic trading decisions. Join us as we unravel the layers of complexity inherent in the XAU/USD market, offering insights that transcend the surface, into the heart of this captivating financial landscape.
Fundamental Analysis
Potential Rise in The Fed's Interest Rates
The Federal Reserve, the central bank of the United States, stands at the forefront of XAU/USD trader considerations. Despite maintaining interest rates in the latest meeting, speculation about future rate hikes has introduced uncertainty. A hike in interest rates could diminish gold's allure as a risk-free investment alternative. Gold investors tend to favor assets offering higher yields when interest rates rise.
Increasing 10-Year US Treasury Yield
The recent upswing in the 10-year US Treasury Yield over the past few months has adversely impacted XAU/USD. Gold, often considered a safe-haven asset, typically experiences decreased demand as bond yields rise. Investors seeking protection tend to shift towards bonds offering higher returns than gold, resulting in a decrease in the value of XAU/USD.
Impact of Russia-Ukraine and Israel-Palestine Conflicts
Geopolitical uncertainty stemming from the Russia-Ukraine and Israel-Palestine conflicts plays a pivotal role in the dynamics of XAU/USD. As a traditional safe-haven asset, gold tends to attract attention during periods of uncertainty. Elevated geopolitical tensions increase the demand for gold, contributing to an upsurge in the value of XAU/USD.
Gold Price Fluctuations: Implications for XAU/USD
The notable fluctuation in gold prices, reaching $1,750 per ounce on September 21, 2023, and subsequently declining to approximately $1,700 per ounce on October 20, 2023, reflects significant market volatility. The dip in gold prices could be attributed to a combination of factors, including expectations of interest rate hikes and a shift in investor preferences towards higher-yielding assets.
Technical Analysis
Indicator Analysis
XAU/USD exhibits overbought signals on the STOCHRSI(14) and MACD(12,26) indicators. However, the elevated volatility serves as a warning for potential market direction changes. The 200-day Exponential Moving Average (EMA) confirms a bullish trend, instilling confidence in traders.
Support and Resistance Levels
According to Barchart, current support and resistance levels are as follows: 1st Resistance Point at 1,986.06, Last Price at 1,994.86, 1st Support Level at 1,954.30, 2nd Support Level at 1,934.11, and 3rd Support Level at 1,914.30. These levels serve as crucial guides in planning trading strategies.
Trading Strategy
The employed trading strategy involves entering positions after the price breaks and retests the breached support and resistance (S&R) levels. The target price is set before the next resistance level or prior to the Fed speech on October 25, 2023, considering potential unforeseen events.
Trade Parameters
Based on the above analysis, several trade parameters are identified:
Entry Point: When the gold price rises and re-test the previous resistance level.
Stop Loss: Placed below the nearest support level to safeguard against sharp declines.
Target Profit: Before the next resistance level or prior to the Fed speech on October 25, 2023, considering potential unforeseen events
Conclusion:
This analysis illuminates the intricacies of XAU/USD, emphasizing the intertwined nature of complex fundamental and technical factors. As investors grapple with potential Fed rate hikes, changes in the 10-year US Treasury Yield, and geopolitical conflicts, a comprehensive understanding of risks is essential. The fluctuation in gold prices serves as a vital indicator, highlighting the need for vigilant monitoring of news and Federal Reserve policies. In navigating these volatile market conditions, prudent trading strategies and effective risk management become indispensable for success in trading XAU/USD.
Roaring 2020s trading-investing economyAs you can see on the presented chart we made current economy started in 1998 with the crash of the LTCM, MFG, Bankruptcy of Russian Federation and BoE. With occasional dumps in liquidity we're heading into new golden era of global finance. Let us introduce you to what we think is the most impotant financal instruments in the world right now. Said instruments is the most liquid financial markets in the world leaving aside rest of the economy we will speak about later. So it would be Standart and Poors which is the most profitable companies in the United States of America, numbers about this field are presented on the top of the chart. Second to this further to the bottom of the presented chart are numbers about gold market, New York Stock Exchange volatility, United States of America 20 year yield, GDP, Labour Inflation, Oil markets, Russian Federation GDP, Russian Federation Moscow Exchange liquidity which is equivalent to quintillion rubles, said exchange volatility level called RVI, Inflation of Labour of the same country. After this goes Passives/Actives of the most expensive venture in the dynamically changing world Federal Reserve. And last but not the least goes 20 year yield of China Republic and Russian Federation. Try to analyse presented chart with your idea of public markets and how they react on the events you see as important or playing a big role in life. Thank you for your attention please read and comment see you in later events. And remember correlation do not present cause effect. We wish you luck in roaring 2020s keep yourself in the peace mood of mind.
Gold (GC1! Futures) Identifying next SHORT zoneAs of today, GC1 has now broken above the current zone, and has closed on a higher timeframe. In accordance with prior breaks, we now look for a retest of the broken zone at the 0.5 FIB of todays daily candle:
The next target is either:
1) The next zone up
OR
2) The prior neck line of the long term H&S identified in August.
Keep in mind, despite this short term bullish price action, the trend for Gold is still BEARISH, hence why we continue to long for short opportunities at each historical zone.
Just to be clear :
My trading is based off of many factors, but an important factor is the many historical monthly zones plotted on the chart. While there will be times where the zones are broken against our favour, the OVERWHELMING MAJORITY of the time, these zones will hold.
As highlighted on the chart, these are all examples of where adhering to these zones would have netted 50 - 100 points moves. Points, not pips.
I will be posting more real time updates though the day of 20/10/23.
Stay safe and manage your risk accordingly!
NASDAQ LONGHUGE EXHAUSTION CANDLE, BUYERS ARE BACK BABY.
This was an amazing trade boys lets keep the good luck rolling.
LINK/USDT 1DInterval Review ChartHello everyone, I invite you to review the LINK chart in pair with USDT, on a one-day time frame. First, we will use blue lines to mark the downward trend channel in which the price is moving upwards, while locally there is an upward trend line visible, along which the price is climbing. As we can see, it also managed to return to a strong upward trend after emerging higher from EMA Cross 200, which is important for the price to maintain this level now.
Going further, we can move on to marking support areas when the price returns to correction, and here we can see the support zone from $7.05 to $6.61, which also contains the previously mentioned 200 moving average, then we have the second zone from 6.17 $ to $5.53, followed by strong support at $4.74.
Looking the other way, we see that the price has bounced off the important resistance zone from $7.78 to $8.58, which it has no strength to break yet, there is still a strong resistance at $9.65, which the price must overcome and test positive before moving further upwards.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, the RSI shows a return to the middle of the range, which creates room for a new upward move, while the STOCH indicator has rebounded to the lower limit and we have a visible upward movement with energy for it. I wish the price would go up a little higher.
BTC Chart Review 1DIntervalHello everyone, I invite you to review the situation of BTC in pair with USDT, taking into account the one-day time frame. First, we will use the yellow line to mark the downward trend lines from which the price has gone up, while locally using the blue lines we can determine the upward trend channel in which the BTC price is currently located.
Moreover, it is worth mentioning that the price has recently moved above the moving average of 200, returning to the strong upward trend, and it is important that it maintains this trend now.
Now we can move on to marking support areas in the event of a correction. And here, first of all, it is worth marking the support zone from $28,072 to $27,460, but when we fall below this zone, we may see a drop to the area of the second zone from $26,849 to $25,987, and then we have strong support at $24,861.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. And as we can see, the price is struggling to stay at the resistance level of $28,377, we still have a strong resistance zone from $29,211 to $30,365, which rejected a strong upward movement, only when we get out of this zone and it is positively tested will the path towards a strong resistance at $31,866.
Please pay attention to the CHOP index, which indicates that most of the energy has been used, on the RSI indicator we are moving in the upper part of the range, but there is room for the price to go slightly higher after this recovery, also the STOCH indicator shows that there is still some room left for the continuation of the movement.
GBP/USD: Bearish Momentum Continues, Watch for Oversold BounceThe British pound fell to a new record low against the US dollar on Wednesday, October 18, 2023, after the Bank of England raised interest rates by 0.75 percentage points, but signaled that it may slow the pace of hikes in the coming months. This suggests that the BoE is more concerned about a recession than about inflation, which could lead to further weakness in the pound.
Other factors weighing on the pound include the ongoing political uncertainty in the UK and the prospect of a prolonged economic slowdown. The UK economy is already facing a number of headwinds, including high inflation, rising energy costs, and labor shortages. A recession in the UK would likely lead to a further weakening of the pound.
Technical Analysis
30-Minute Chart
On the 30-minute chart, GBP/USD is currently trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term.
The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300.
4-Hour Chart
On the 4-hour chart, GBP/USD is also trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term.
The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300.
Daily Chart
On the daily chart, GBP/USD is also trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term.
The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300.
Elliot Wave Theory
Based on Elliot Wave Theory, GBP/USD may be in wave 5 of a bearish 5-wave Elliott wave pattern. This suggests that the price is likely to continue to fall until the wave 5 pattern is complete.
I hope this post is helpful.
If you agree with the idea, please follow and share this with others too.
This analysis is based on the information at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
Dollar Index (DXY): Detailed Technical Outlook 💵
Multiple time frame analysis for Dollar Index.
Price action & important key levels.
Potential scenarios.
Trading plan.
❤️Please, support this video with like and comment!❤️
USDCAD LongLongs, shorts, longs, shorts.
Overall Bearish on the UCAD however I'm looking for a DXY pump while we wait for the next area to hop into a nasdq short
Good Bye NasdaqTechnicals played out beautifully.
Remember guys the name of the game is SURVIVAL.
Dont be afraid to take profits, I took 90% of profits and I'm letting the rest run with a stop loss at BE.
Good trade boys.
Strong fundamental and technical China playI do like how some of the strongest plays in China are setting up for the perspective upside in Q4 and beyond.
Have a look at $NASDAQ:FUTU. High double and triple digits growths of earnings and sales four quarters in a row; strong and consistent ROE numbers; high eps growth estimates. Management owns 5% of the company. In conjunction with China government plans to stimulate the economy, most of the ingredients are there to support potential price advance of FUTU into Q4.
From the technical stand point, I may suggest several perspective:
1. My wave-analysis shows that a) the mid/long-term structure allows for substantial upside and b) price found important short-term support in 53 area and is now building the base before continuing advance towards next important resistance zones: 80-99.
2. Waves and fibonacci aside, notice how well the price creates a volatility contraction pattern on a weekly time-scale, with an evident accumulation signs and good weekly closes. That leads me to consider that sellers with selling volume are subsiding and buyers are ready to step in leading the price higher.
Overall there is quite substantial overhead supply from devastating 90% decline since 2021, strong fundamental and at least short to mid term technical stance make NASDAQ:FUTU a valid candidate for the buy list.
Trading thesis: if price manages to break-out above 67.5 with supportive volume confirmation, that shall be a buy signal. With tight 3-5-7% staggered stop loss. For cowboy type of traders, price moving above 64.10 could be a place to start opening the position with an intention of adding after 67.5 breach.
The short-term analysis is valid until price holds above Oct's low of 52.
MKR/USDT 1D Review ChartHello everyone, I invite you to review the MKR chart in pair with USDT, on a one-day time frame. First, we will use blue lines to mark the upward trend channel, which contains data around the additional range.
Going forward, the point of support will be marked in the event of a larger correction. And here, the first one is our support zone from $1,404 to $1,539, then the zone at the border from $1,292 to $1,209, and then there is a strong shock near the support level at $967.
On the other hand, the price reached the important resistance zone from $1,476 to $1,565, from which it was rejected. However, if you manage to get out of this zone, it will be in the second zone from $1,773 to $1,864.
Please check the CHOP index, which indicates that we have a lot of energy at the exit of the movement, the RSI indicator, which is visible near the outer area, making it difficult to determine the direction, but when displayed on the STOCH indicator, to display a rebound to the exit of the border and the original exit from the place because the price went higher.
Long Positions in EUR/AUD, Potential for Additional Upside.Traders favoring a rise in EUR/AUD continue to stand strong, with opportunities for additional gains. The market suggests that there is still room for further upward movement.
Buy: 1.6680
TP: 1.6750
SL: 1.6600
"Simple doesn't mean not profitable"
Stay focused my friend.
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Thanks for your continued support!
EUR/NZD Holds Firm at 1.7850The EUR/NZD pair is currently consolidating near the 1.7850 level while retaining a bullish bias. It remains in a stable range as it hovers around this key support, signaling ongoing positive momentum in the market.
Buy: 1.7800
TP: 1.7900
SL: 1.7720
ETH/USDT 4HInteral Review ChartHello everyone, let's take a look at the ETH to USDT chart on a 4-hour time frame. As you can see, the price is moving just below the local downtrend line.
After unfolding the Trend Based Fib Extension grid, we see that the price remains under support, while the next support is at $1,499, and further at $1,466.
Looking the other way, the first resistance is at $1,565, then we have resistance at $1,593, the next resistance at $1,614, and then we have the resistance zone from $1,637 to $1,668.
Looking at the CHOP indicator, we see that there is still energy for movement, on the STOCH indicator we have a slight rebound with room for growth, while the RSI indicator is moving towards the lower limit and we are currently experiencing a slight increase.
GOLD: A SAFE HEAVEN IN UNCERTAIN TIMESTVC:GOLD
My current views on GOLD:
Short chart explanation.
This structure can be:
1. A continuation of the bigger WXY - forming another XZ correction (so the price is heading on the downside)
2. A correction at a smaller degree (ABC), finishing a potential Wave A on the downside, before bouncing forming the Wave B on the upside, potentially reaching again the top main resistance point.
Deeper insights:
In recent months, gold prices have been on the rise, as investors have sought to protect their wealth from inflation and the potential for a recession. The ongoing conflict in Ukraine has also boosted demand for gold, as investors have sought to hedge against geopolitical risks.
Technical Analysis
On the 30-minute chart, gold is currently trading in a bullish trend. The price is above all major moving averages, and the RSI and MACD indicators are both bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
s3.tradingview.com
On the 4-hour chart, gold is also trading in a bullish trend. The price is above all major moving averages, and the RSI and MACD indicators are both bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
s3.tradingview.com
On the daily chart, gold is also trading in a bullish trend. The price is above all major moving averages, and the RSI and MACD indicators are both bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
s3.tradingview.com
Conclusion
Overall, the technical and fundamental outlook for gold is bullish. The price is above all major moving averages on the 30-minute, 4-hour, and daily charts, and the RSI and MACD indicators are all bullish. This suggests that the bulls are in control and that the price could continue to move higher in the near term.
I hope this post is helpful.
If you agree with the idea, please follow and share this with others too.
This analysis is based on the information at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
BTC/USDT 4HReview ChartHello everyone, I invite you to Thursday's review of the current situation on BTC in pair with USDT, taking into account the four-hour interval. First, we will use the yellow line to mark the upward trend lines from which the price has currently broken down.
When we turn on the EMA Cross 200, we can see that the price has returned below the moving average, which also indicates a return to the downtrend.
Now we can move on to marking support areas in case the correction deepens. And here, first of all, it is worth marking the support at the level of $26,750, at which the price currently holds, but when it drops lower, it will move towards the strong support zone from $26,313 to $25,691.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. First, we will mark the resistance zone from $27,322 to $27,552, when it is overcome, the price must overcome the second resistance zone from $27,798 to $28,140, only then will we be able to see new increases.
Please pay attention to the CHOP index, which indicates that most of the energy has been used, on the STOCH indicator we have exceeded the lower limit, which also resulted in the price decline slowing down, also on the RSI index we are moving at the lower limit of the range, which may result in a price rebound in the coming hours.
