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Parallel Channel

BITCOIN → Trend reversal? The end of growth? Or ...BINANCE:BTCUSD still maintains a bullish market structure as evidenced by the local upward channel within the broader consolidation channel. After a strong rally, the price is moving into consolidation. several possible scenarios regarding current levels and the current situation Consolidation is the accumulation of a position. Accordingly, there can be different situations inside such a figure: traps, traps, false breakdowns, unpredictable impulses and so on. And it all has one goal - accumulation. Technically, the bullish market structure is not broken. Globally - flat. Locally - an ascending channel. The risk of breaking the bullish structure will be if the price starts to approach 91K - 85K. Then the question about deeper correction or even reversal will become more serious, but not now. The bulls are actively defending the boundaries of the local ascending channel and it may lead the price to retest 99-102K, but at the moment there are no preconditions for strong growth. The market will need a few days to recover its strength. Just during this period of time, the asset may show further intentions. Resistance levels: 99K, 101.3K, 104K Support levels: 95.9K, 91.6K If the bears hold the defense below 99K and the price starts to fall down, then pay attention to 95.9K. Further fall or consolidation inside the channel will depend on this level. If the bulls will be able to keep the defense inside the channel (above the support), then in the medium term we can count on the continuation of growth Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;) Regards R. Linda!
Long
by RLinda
3
Bitcoin - Preparing For Another +200% Rally!Bitcoin ( BITSTAMP:BTCUSD ) is just starting a major bullrun: Click chart above to see the detailed analysis👆🏻 Bitcoin rallied more than +40% in November and despite the recent bullrun and the all time high breakout, Bitcoin is just starting its next major bullish cycle. Looking at previous price and trend behaviour, it is quite likely that Bitcoin will eventually retest the top of the channel. Levels to watch: $100.000, $300.000 Keep your long term vision, Philip (BasicTrading)
BITSTAMP:BTCUSDLong
by basictradingtv
15
Bitcoin can rebound from resistance line and start to fallHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some time ago started to decline inside the downward channel, where it at once reached a resistance line, after which continued to decline. In a short time, BTC fell to the buyer zone and then rebounded to the resistance line again. Then the price dropped to the channel's support line and then made a strong impulse up, thereby breaking the 96250 level and exiting from the channel too. Next, the price rose to 104K points, breaking the resistance level too, after which turned around and started trading inside symmetrical triangles. In this pattern, the price made a strong downward impulse to the support line, breaking resistance with support levels, but later it made an impulse from the support line, and broke these levels again. Later BTC started to decline and soon broke the 100200 level one more time and fell to the support line of the triangle. But a not long time ago it rebounded from this line and started to grow. So, at the moment, I think that the price can reach the resistance line of the triangle pattern and then start to decline to the 96250 support level. For this case, I set my TP at this level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
2
Gold Market Insights Key Drivers and Technical OutlookOANDA:XAUUSD - Multi-Timeframe Analysis Current Price: $2633.33 Executive Summary Gold prices face key volatility drivers as strong U.S. job growth and geopolitical tensions support safe-haven demand. Expectations for a 0.25% Fed rate cut, along with a dip in the Dollar Index and 10-year Treasury yields, suggest potential upside for gold. Technically, the price is near the critical Pivot Point at 2656.25, with a breakout signalling bullish momentum toward 2695.21. A drop below 2617.18 could indicate bearish pressure. Key levels will dictate the next move. Economic and Geopolitical Drivers Strong U.S. job growth and steady wages support expectations of a 0.25% Fed rate cut in December, which could weaken the USD and boost gold prices. Following the labor data, the Dollar Index dipped to 105.42, and 10-year Treasury yields fell to 4.13%, with traders anticipating increased gold price volatility ahead of the Fed’s December 18 meeting. Geopolitical tensions, including clashes between Israel and Hezbollah and Russia’s warnings against Western influence, continue to drive demand for gold as a safe haven. Technical Overview The chart analysis shows that the yellow metal has formed a descending channel starting on November 28. The price closed within a Pennant, marked by a 2-hour bearish candle, likely influenced by the weekend pause. Volume divergence is also evident. The combination of the descending channel, pennant formation, volume divergence, and the further decline in 10-year Treasury yields suggests that the shiny metal is poised for an upward surge. The price is currently trading just below the Strong Pivot Point 2656.25. After breaking out of the pennant and descending channel, we anticipate a breakout through this Major Resistance level. A sustained move above 2656.25 would confirm bullish control, as this level serves as a critical marker for identifying trends, reversals, and trading opportunities. Often regarded as the market’s “equilibrium,” the price action around this level will likely dictate the next major move. Should the price break above 2656.25, we expect it to target 2695.21, with the potential to rise further toward Minor and Ultimate Resistance levels. On the downside, if the yellow metal falls below the Pivot Point at 2617.18, the next targets are 2597.65 and 2578.12, indicating a shift toward bearish momentum. Key Levels to Watch Support Levels: • Pivot Point / Support: 2617.18 • Minor Turning Point / Support: 2597.65 • Ultimate Support: 2578.12 Resistance Levels: • Major Resistance: 2656.25 • Top of the Trading Range: 2675.78 • Pivot Point / Resistance: 2695.84 • Minor Turning Point / Resistance: 2714.84 • Ultimate Resistance: 2734.37 The movement around 2656.25 will be key in determining the next direction for the yellow metal.
OANDA:XAUUSDLong
by SpicyPips
5
Binance Coin Long Setup Setting / Next Alt-Season BasketBINANCE:BNBUSDT OKX:BNBUSDT 📈Which side you pick? Bull or Bear SL1 ---> Low-risk status: 3x-4x Leverage SL2 ---> Mid-risk status: 5x-8x Leverage (If there is just one SL on the chart, I suggest, low risk status) Considering the price trend in its previous channel, by repeating the stabilization of the price at the bottom of the second parallel channel, it can be expected that the price will continue to move up to the top of the new channel. The price breaking above the specified level can increase the certainty of the realization of the price target. The price falling below the red level cancels the bullish scenario of Binance Coin. Potential price targets for the levels will be $950 and $1,447. 👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate. ➡️Entry Area: Yellow zone ⚡️TP: 950 1447 2340 3515 🔴SL: 252 🧐The Alternate scenario: If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
Long
by CrazyS
NVDA to $170K EOYWith the Magic Linear Regression Channel by @mwrightinc, we built a channel on the daily chart that shows that NVDA looks like it may be beginning a bounce from the channel baseline. Using the Multi-VWAP indicator by @mwrightinc, we can also see that today, NVDA reclaimed the 5 Day anchored volume weighted average price (AVWAP). We can also see that after we lose the bearish data from 5 days ago that we will have a rising 5-Day AVWAP, which, according to Brian Shannon of AlphaTrends, is a MUST before entering into any long positions. NVDA also reclaimed the 50 Day AVWAP. Another very bullish sign. With a second Magic Linear Regression Channel, or by just drawing a trendline from the pivot high close from June 18th, 2023, we can see that $135.58 was broken as support, but yesterday's large bottom wick and today's continued upward momentum suggest that the level may be reclaimed in the very near future. I see two potential scenarios playing out. A bullish one, where NVDA not only reclaims the 135.58 support, but heads back up to the top of the 1 1/2 year-old channel that has been respected at multiple levels. And, a bearish one, where NVDA continues to fall that is indicated by its recent break of a neckline from a double-top. I believe the bullish scenario is more likely, because NVDA has already had a big move down from its earnings, and it actually beat estimates all around. NVDA is a beast, and I'm guessing that it has the potential to reach $170 by the end of the year, if the bullish scenario plays out.
NASDAQ:NVDALong
by mwrightinc
4
The only chance to short gold!As I said in my last article, I planned to buy gold with the 2670-2660 area as support, but gold did not fall back to 2670, not even to 2671, so unfortunately gold did not reach our buying area. Currently, gold has risen to around 2690. Obviously, it is not a good idea to chase gold near this position, and it faces resistance in the 2695-2700 area. I think even if gold breaks through the 2695-2700 resistance area, it will retreat because it needs to accumulate upward momentum. So anyway, I will try to short gold here once. Am I the only one who takes the risk of shorting gold in the entire network? Will you try to short gold in this position area? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDShort
by Trader_Marvin
#XRP/USDT 12h / Elliott-Fibonacci-Financial ChannelAccording to Elliott Wave theory, the price rose during the impulsive first wave and corrected in the second wave as an ABC zigzag to the 0.382 Fibonacci level. This aligns with Elliott's rules, suggesting that the correction of the fourth wave will likely be at 0.5 - 0.618. Based on the impulse of the first wave, the target for the third wave is 4.25, followed by a correction within the fourth wave. Using Fibonacci projections by shifting the grid from the start of the first wave impulse to the end of the second wave, the target for the third wave aligns with Fibonacci 1.618 (5.82). Without shifting the Fibonacci grid, the target for the third wave at Fibonacci 1.618 is 4.40. To confirm this scenario, the price must break above the peak of the descending financial channel. Successful trades!
Long
by WoWAcEDuDe
S&P500 - The Most Important Channel Breakout!S&P500 ( TVC:SPX ) is retesting a crucial breakout area: Click chart above to see the detailed analysis👆🏻 During 2024, the S&P500 rallied more than 25% after we already saw a very bullish year of 2023. However, momentum is always more likely to continue and since the S&P500 is currently retesting a major breakout level, this bullish momentum could lead to a final breakout. Levels to watch: $6.000 Keep your long term vision, Philip (BasicTrading)
TVC:SPXLong
by basictradingtv
18
LYV spikes to $140, then pulls back to $120MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Price above channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM is spiked positive Price near 4.618 Fibonacci level Calling top around $140 Downside target is $120 or channel bottom manual stop loss
NYSE:LYVShort
by chancethepug
Big pullback coming for DOGE? Or break towards the ATH!Getting a broad pullback in the market today, taking #DOGE close to a tag of the DEMA 20 but still within a rising channel. DOGE pumped 4 times in the 2021 bull phase. Twice it reached a daily RSI over 90. The first time it corrected 53% and consolidated for 2 months. The second time is corrected 65% and consolidated for 2 weeks before peaking for the cycle 1 week later. 3 weeks ago, the daily RSI peaked over 90. Will #DOGEUSDT experience a major correction this time, or is this time different? A break of the rising channel and drop below the $0.40 horizontal support may be a sign that a deeper correction is in store. A correction may be bought quickly in the bullish market. Continuing to rise within the channel may result in a break to new highs and the next pump towards the ATH. Please let me know in the comments what other signs may give us a clue what DOGE's next move will be from this rising channel! I'd love to hear others' thoughts!
Long
by joelsko
1
Gold is Ready to Pump, Ready!?Gold ( OANDA:XAUUSD ) is currently moving in the Resistance zone($2,667-$2,653) and has managed to break the upper line of the Descending Channel . In terms of Elliott wave theory , Gold completed the Double Three Correction waves as I expected , and I am also waiting for the Resistance zone($2,667-$2,653) to break with the break of the upper line of the descending channel . I expect Gold to rise to at least $2,679 after breaking the Resistance zone($2,667-$2,653), and the next target is the width of the descending channel (broken). ⚠️Note: If Gold goes below $2,636, we can expect a further decrease in Gold.⚠️ 🔔Be sure to follow the updated ideas.🔔 Gold Analyze ( XAUUSD ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; 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.
OANDA:XAUUSDLong
by pejman_zwin
5
Bitcoin can rebound down from seller zone to $94K pointsHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see how the price a few moments ago started to grow inside the upward channel, where it soon reached the 91500 support level, which coincided with the buyer zone. After this, BTc even rose a little higher than the 91500 level, but soon backed up and some time traded near the buyer zone. Later BTC finally broke the 91500 level and rose to the resistance line of the upward channel, which coincided with the current support level. Price at once turned around and made a correction to support level, after which it turned around and rebounded up. BTC tried to reach the current support level but failed and dropped to the support line of the upward channel, after which it made an upward impulse. After this, the price finally broke the 99500 level and rose to the channel's resistance line. Then the price turned around and dropped to the buyer zone inside the triangle, thereby exiting from the upward channel. But a not long time ago it turned around and made impulse up to seller zone, where it continues to trades to this day. So, I think that Bitcoin can leave the triangle and then rebound down from the seller zone, breaking the support level. For this case, I set my TP at 94000 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
AMZN pullback to $201 (buying AMZD)MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. So... Here's why I'm picking this symbol to do the thing. Price above or at top of channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at near overbought level VBSM is turning spiked positive Price at or near Fibonacci level Target is $201 or channel bottom Buying NASDAQ:AMZD
NASDAQ:AMZNShort
by chancethepug
SILVER (XAGUSD): Important Breakout & What is Next⚠️SILVER is trading in a bullish trend, moving within an ascending parallel channel on a 4-hour timeframe. The price has broke and closed above an important daily resistance level. This breakout serves as a powerful bullish signal, potentially driving the market significantly higher. It is expected that the price will continue to grow within the limits of the ascending parallel channels. The next resistance level is at 32.00.
TVC:SILVERLong
by linofx1
3
MEME ANALYSIS#MEME Analysis : Channel Following 📊As we can see that #MEME is following ascending channel on daily time frame. Currently the price is trading above its major support zone. Price is moving upwards within a long-term rising channel, recently moving towards its support from its support level. Expect a bullish move in few days.📈 🔖 Current Price: $0.01650 ⏳ Target Price:   $0.01824 ⁉️ What to do? - Keep your eyes on the chart, observe trading volume and stay accustom to market moves.🚀💸 #MEME #Cryptocurrency #ChartPattern #DYOR
Long
by ZEUS_Market_Alerts