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Parallel Channel

ETH / BTC Secondary trend. Descending channel. Wedge. 18 10 2024A local wedge-shaped formation has formed in the descending channel in this ETH/BTC trading pair. There is potential for a breakthrough and price growth, to the resistance of this descending channel. Perhaps after consolidation. If this happens, then most of the “long-suffering” altcoins will similarly go up in price, but with a larger %. The local alt season will begin. This trading pair clearly shows how money flows from one high-cap asset to another. Shown on the chart. Look at the time and the Bitcoin to Dollar chart, at the time of the breakout of the symmetrical triangle of the distribution zone downwards (weakness of Ethereum relative to Bitcoin). Since then, Bitcoin has grown in price by almost +200%. While Ethereum relative to Bitcoin has weakened by as much as -50%. Now there is a reverse flow of bitcoin into ether, and some alts, for about 1.5 months already. Then, the money will flow into a variety of alts, which will consequently be reflected in their prices a little later. Today is a significant date 18 10 2024. There are 18 days left until the US presidential election. Remember, about this, where this zone is in the main trend.
Long
by SpartaBTC
1
EURO - Price can continue to decline inside falling channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price started to grow inside rising channel, where it soon broke 2-nd ($1.1090) resistance level. After this movement, price some time traded between resistance line of channel and with resistance area. And last time it bounced from resistance line and broke $1.1090 level, thereby exiting from rising channel too. Next, price continued to move down inside falling channel, where it broke 1-st ($1.0950) resistance level recently. Now price continues to fall near resistance line of channel, and I think Euro can rise a little higher resistance line. Then price will turn around and continue to fall to $1.0760 support line of falling channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
12
GOLD → The realization phase continues. What are the targets?FX:XAUUSD in the phase of realizing the accumulated potential updates ATH to 2714 and is in no hurry to give up, movements can be continued... Gold feels support from the Chinese markets after positive hints from the People's Bank of China revived hope for stimulating the economy. Also from the European side - the ECB cut its key rate, in anticipation of another, fourth cut in December... Strong data from the US on Thursday pointed to a solid economic outlook, but this failed to change the odds of a 0.25% rate cut by the US Fed in November. In addition, the gold price found fresh demand amid escalating geopolitical tensions between Iran and Israel (Hamas leader eliminated) Resistance levels: 2711.7, 2715, 2720 Support levels: 2702, 2696, 2689 Technically, gold continues its bull run once again. The chart indicates key support areas that may be of interest before further rally. A correction has been forming since the opening of the European session, but price is quickly returning to ATH. If the bulls hold the defense above 2711, the growth will continue without a pullback. Targets are indicated on the chart Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
5
FILUSDT → Weakness in altcoins will manifest itself in decliningBINANCE:FILUSDT after a false breakdown of the 3.800 range resistance is giving signs towards the continuation of the decline. The coin is in a global and local downtrend and there are no reasons to change direction. The focus is on the support of 3.688. Altcoins are extremely weak on the back of bitcoin's strong rally. The dominance of the flagship is currently at record highs, and the altcoin season has not arrived and apparently will not come anytime soon. Bitcoin is testing strong resistance zones and cannot grow all the time. Any short-term reaction can affect the entire cryptocurrency market, which will color the coins in the red. Support levels: 3.688 Resistance levels: 3.800 Technically, relative to 3.688 a descending triangle is forming after a false breakdown of the range resistance. It is a rather strong conglomerate. Breakout of 3.688 and price consolidation below this area will provoke further selling and price decline to 3.4 - 3.3 Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:FILUSDT ;) Regards R. Linda!
Short
by RLinda
9
EURUSD → Active sale. Emphasis on 1.0900FX:EURUSD continues to update lows since the fundamental background and uptrend change. Price is descending in a calm and progressive manner, which generally indicates the strength of the trend... A strong drop from the distribution phase without any pullbacks is an indicator of a strong trend. There is a key liquidity zone ahead, which could form a surge in volume and liquidity that could lead to a small correction. For example to 1.095 - 0.7 fibo. On the Daily chart we see the realization of a failed breakout (false breakout), a strong distribution is formed. The liquidity at 1.077 - 1.067 may become the target of such a movement Resistance levels: 1.095, 1.100 Support levels: 1.089, 1.077 There is no news until Wednesday, so the fundamental background remains the same. The market may stop and go into consolidation, but with a high probability the fall after the breakthrough of 1.089 will continue... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
10
BTC first serious breakout attemptBTC is finally attempting to break this downtrend after months of sideways and down. I have been selling puts on CONL (coin) in anticipation of this breakout. On the daily chart I look for multiple closures above the trend line and in between the zero fib. I still expect 80k within a month but we will see the market seems to really be taking its time with this one. The key difference lately is the basing off the blue fib, and the strong wicks eating up dips the last three or four weeks. The stochastic RSI is just starting to heat up, my body is ready. My plan: Continue to sell CONL puts, I am happy to let my CLSK shares get called away around 20$. I will start to sell altcoins around 80k BTC.
BINANCE:BTCUSDLong
by Apollo_21mil
Bitcoin Roadmap!!!==>>Falling!!!Bitcoin ( BINANCE:BTCUSDT )is currently hovering near the Resistance zone($70,080-$68,250) , Potential Reversal Zone(PRZ) , the Upper line of the Ascending Channel , and Important Resistance lines(Bitcoin is attacking important resistance lines for the fifth time.) . According to Elliott's wave theory, Bitcoin seems to be completing the main wave 5 . The structure of the main wave 5 can be Ending Diagonal . Also, Regular Divergence (RD-) between Consecutive Peaks . I expect Bitcoin to fail again on the 5th attack to the important resistance lines , and to break the lower line of the descending channel and decline to at least the first target on my chart. We should expect more Bitcoin dumps if Bitcoin loses the Support zone($66,500-$64,480) . ⚠️Note: Tension between Iran and Israel could increase in the coming days, causing a sharp drop in Bitcoin.⚠️ ⚠️Note: Open interest in futures markets has reached its highest level in 2024, while Volume Trading has decreased.⚠️ ⚠️Note: If Bitcoin can break the Resistance zone($70,080-$68,250) and Resistance lines, we should wait for a new All-Time High(ATH) for Bitcoin.⚠️ Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
32
TNSR/USDT: Breakout Alert! Bullish Momentum Ahead!!Hey everyone! If you're enjoying this analysis, don’t forget to hit the 👍 and follow for more updates! TNSR is looking very promising right now! It has broken out of the descending channel and is currently retesting the breakout level. I'm starting to accumulate a spot position here, and will be adding more on any dips. Short-Term Targets: $0.44 $0.50 $0.58 $0.76 Long-Term Targets: $1.04 $1.42 $1.82 $2.60 Stop-Loss: $0.24 What do you think of TNSR's current price action? I'm seeing a strong bullish setup here! Drop your thoughts and analysis in the comments below!
Long
by CoreCrypto1
Gold's Next Move: Will It Rebound to $2720 After a Pullback?This analysis offers an exploration of XAUUSD (Gold) price fluctuations. Recently, Gold traded at approximately $2400—a crucial support level—and subsequently commenced an ascent within a broadening wedge formation. After surpassing the $2400 threshold, it corrected toward the support line of the wedge; however, it then surged upwards, breaking the $2635 mark. The price later encountered the resistance line, but it has since begun to decline. I anticipated that Gold might retreat to the support line of the wedge before rebounding and transcending $2635 once more, aiming for $2720.
FOREXCOM:XAUUSDLong
by Elysian_Mind
Euro can reach resistance line of channel and then continue fallHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price some days ago entered to downward channel, where it at once rebounded from the resistance line and started to decline. In a short time price reached the 1.1030 level and some time traded inside the seller zone, after which broke this level. Next, the price fell to the support line of the channel and then tried to grow, but later failed and fell to the current resistance level, which is located inside the resistance area. Euro some time traded near this area and later continued to decline, thereby breaking the 1.0900 level. Then the price some time traded below this level and not long time ago continued to move down. Now EUR fell more and continues to decline inside the downward channel, so, I think that the price can rise to the resistance line of the channel and then rebound. After this, the price can continue to decline to support line of the channel, for this case, I set my TP at 1.0750 points, which coincides with this line. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
GOLD - Price can exit from wedge and fall to $2625 levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A not long time ago price fell to $2625 level and then bounced up to $2665 level, after which started to decline inside channel. In falling channel, price some time reached $2665 level, but couldn't break it and later Gold fell below $2625 level. Price exited from falling channel and started to grow inside wedge, where it broke $2625 level one more time. Later price made a gap and made correction to support line of wedge, after which bounced up to resistance line. Also, price broke $2665 level, and at the moment it continues to grow near resistance line of wedge. So, I think, Gold can rise a little, exiting from wedge, and then bounce down to $2625 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
1
GOLD → Will the bears allow the bulls to go through ATH?FX:XAUUSD is growing unpredictably towards ATH. The market did not react in any way to last week's US fundamental data and now the price is not reacting to strong levels and liquidity zones. Ahead of ATH after 3 weeks of forming... Investors remain cautious as the US Fed is expected to follow a path of moderate interest rate cuts (skipping a cut in November, or a 0.25% cut) The gold price is actively supported by the tense situation in the Chinese markets and lower US Treasury yields, which helps the gold price to take another leap towards the ATH. Now all eyes will be on Thursday when China holds a press conference and the US retail sales report is released Resistance Levels: 2680-2685 Support levels: 2665, 2658, 2645 Technically, I don't think that the market will let the resistance breakout happen the first time. The pullback from 2685, formed 3 weeks ago, was made on the back of strong economic data, so the huge pool of liquidity above 2685 can be defended quite aggressively by the bears. Technically, there are no signs for the continuation of growth. They may appear after the retest, but it will become clear after the fact. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
15
GBPUSD → Support breakdown. CPI in the UK is declining... FX:GBPUSD confirms the bearish market structure. The price is breaking the support. Fundamental data is favorable for further continuation of the fall. UK Inflation: m/m = 0% (expectation +0.1% / previously +0.3%) YoY = +1.7% (expected +1.9% / previously +2.2%) Core CPI = +3.2% y/y (expected +3.4% / previously +3.6%) The USD index are rising on strong US economic data (last week's potential). All these data together have a corresponding impact on the currency pair, which breaks the support of the uptrend. A price consolidation below 1.3000 (strong psychological level) will open the way to 1.28-1.26. Support levels: 1.3000, 1.2938 Resistance levels: 1.309 Selling on the currency pair is intensifying, the price is entering the risk zone and the buyers are getting even more nervous... In the short term, a retest of the previously broken trend support is possible, followed by a fall towards 1.28-1.26 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
6
BTC is moving earlier then what I was expectingBTC moved above the downtrend consolidation channel earlier than I anticipated, with volumes confirming this change in trend. The breakout occurred on the 14th of October. Currently, there is a low chance that the price will return to the bottom of the channel at 53k-50k, in my opinion. I guess the price will just retest the top of the channel at around 64k-62k and continue to the upside, probably to the higher part of the channel at around 73k, maybe a little more. On the weekly chart, volatility is still low on BBWP (13th percentile), while on the daily chart, it is at the 63rd percentile, with extremes around the 85th-95th percentiles. So, there is still momentum to continue to the upside.
Long
by danywaystrige
Bitcoin - 130k by January, then crash to 60k!Comment your altcoin, and I will make a technical analysis for you! Bitcoin is almost ready to start a new and last huge wave to the upside! My target is around 130k for multiple reasons, which I will tell you in this analysis. But what happens after Bitcoin hits 130k? We all know that Bitcoin is extremely volatile, and during its bearish cycles, a 70% - 80% is standard. We can definitely expect a crash from 130k to 60k in the next bearish cycle to retest the current bullish flag (that you can see on the chart). That's why it's very important for you to take profit and potentially enter a long-term short position on futures! Why is 130K important? First we have the 0.618 fibonacci extension measured from wave 1+3 -> wave 4. Also, we have the long-term trendline of this bullish cycle, which is even stronger dynamic resistance level!  From the Elliott Wave perspective, we need to complete this impulse wave and make the last wave 5! This wave 5 already started at 49k in August. On the chart, we can see 2 major consolidation periods marked as wave 2 and wave 4.  The best plan on Bitcoin is to buy it and sell around 130k, then enter a short position on futures to make money in the next bearish cycle. You will also get funding fees for holding your short position! Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
133