REVERSE ON $0.90We have explained to you the extremely important price levels and told you which areas are important with detailed explanations and indicator confirmations and price action confirmations.
So definitely from this analysis.
W-pattern
BREAK PATTERNSELL - SHORT
DYDX/USDT
🔰Entery: = 1.59 - 1.54 - 1.467
❇️Targets
1️⃣1.45
2️⃣1.43
3️⃣1.4
4️⃣1.359
5️⃣1.296
🧯Stoploss : 1.63
FILE FAKEBREAKOUT PATTERNThe current area support is very suitable for continuation of the upward trend
🔥 Bitcoin Break Out: Second Try!In my most recent BTC analysis I wrote about the pending break out of this bullish channel.
Bitcoin indeed broke out, reached 38.000$, but reversed quickly. Leveraged trades reached a climax after Ethereum's ETF announcement, which gave traders a reason to sell the breakout and buy the correction.
Most alts corrected around 20% at the lows, which is healthy correction after this kind of run-up.
My short-term view is still bullish. Bitcoin is likely to break out through this channel in the near future. This time, on lower leverage with a more "natural" move instead of a big spike.
Exciting times for crypto.
ATTENTION: UFO "Parabolic Arc Pattern"!#UFO Gaming is following the PARABOLIC ARC pattern.
It is NOT a Financial advice.
TP 1: 1300 --> Done, TP 2: 1600 --> Done, TP 3: 2000 ,TP 4 (Yellow Line): 2350
#UFOUSDT #Parabolic #Arc #Pattern
🔥 The Last Hurdle Before The Bull-Market: EthereumLike most alts, ETH has been seeing very decent gains over the last few weeks. However, ETH has not yet broken out of the bear market range, which is well defined below the purple resistance area.
This resistance area ranges from $2000-$2150. If ETH does not manage to break through this resistance, we can't call the bear market over. On the contrary, if this resistance manages to hold there's a potential for the entire crypto market to fall.
Since the market has shown exceptional strength lately, there's a potential that ETH will break through this resistance. If it does, there's little holding back crypto from starting a new long-term bullish trend.
Keep your eyes focused on this range, since it might prove to be an important one in the near future.
History Rhymes 📖🎶Today, I want to share an interesting pattern that BTC has been respecting lately.
1️⃣ First, in June, after a bearish trend, BTC formed a falling correction /pause, and then we experienced a shift in momentum from bearish to bullish.
2️⃣ Then, in mid-July, after a bullish trend, BTC formed a rising correction and then reversed.
3️⃣ In September, once again, BTC formed a falling correction and then traded higher.
🖊 We can clearly see that this pattern is playing out nicely on the BTC Daily chart.
4️⃣ If we apply the same logic to the current price action, BTC should be in a rising correction phase.
For it to be confirmed, we need BTC to reject the upper green trendline again and then break below the last low in green at 33,000. In this case, we will be expecting a bearish trend to start, reaching around the lower orange trendline at 29,000.
🗒 What do you think?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
And always remember: All Strategies Are Good; If Managed Properly!
~Richard Nasr
MAZDOCK Breakout ReadyMazagon Dock Ship Builders Ltd. recently announced that the company will pay dividend to its shareholders for which the record date has been set at November 20, 2023. This will be the highest dividend the company has ever paid till date. We have previously seen the company pay dividend to its shareholders in the past so it has a good track record of giving growth & revenue to its shareholders. The company has a strong order book which gives it a fundamental boost to be a good pick for the long term.
Coming to the charts, the stock has formed a triangle pattern that can give an aggressive breakout in the days to come. The daily RSI is trending around 50 which can give it a boost as its a sign that the momentum of the stock has not yet exhausted. The stock is also outperforming NIFTY which makes it a favorable pick.
🔥 LUNC Falling Wedge Break Out: Short-Squeeze Potential! LUNC has been massively shorted over the last year, and with good reason, since the token is practically dead.
However, this amount of shorting poses a risk for the bears. If we get more bullish price action in the near future, the amount of shorts being squeezed (liquidated) could result in a huge bullish move upwards. For now it's just speculation, but it's certainly a possibility.
At the moment, I'm looking at the 1-year falling wedge pattern that has just broken bullish. This is the best case for the bulls in at least a year, very interested where this break out will bring us!
#GBCAD selling opportunityHello, everyone. I hope you're all having a great start to the week.
Let's analyze the GBPCAD chart and explore a potential selling opportunity in this pair. However, please keep in mind that since we've also posted another idea for EURCAD, it's advisable not to take both of these ideas simultaneously, as it could increase your risk and disrupt your money management.
The price is currently situated at a Daily Clean break area, which serves as a supply zone in the daily timeframe. Additionally, the price has reached the 61.8% Fibonacci retracement level and appears to be forming a rising wedge pattern. Moreover, in less than 10 minutes, a bearish hammer candlestick formation will likely occur in the 4-hour timeframe, further supporting the potential for this trading zone.
It's essential to note that in the forex market, there are times when the price presents clear patterns. However, it often initially moves against the pattern to trigger traders who trade in the direction of those patterns and then reverses in the direction of the pattern. I believe that the bullish breakout from the wedge pattern is a false breakout, and the price will eventually return inside the pattern.
For entering a position, you can either trade based on the 4-hour bearish hammer candlestick formation or wait for the price to return inside the wedge pattern. In any case, your stop-loss should be placed above the high formed in this candle.
Wishing you all the best.
🔥 Bitcoin Bulls Being Tested: Fight For Short-Term TrendBitcoin has been gradually trading upwards since the huge move late October. As seen on this chart, BTC has continuously making higher-lows alongside the purple dotted support line.
As of earlier today, BTC hit the support again and saw a bounce from the lows. However, as long as we're below the yellow dotted resistance there might be a higher probability for bears to push through and take the price below the purple support area.
Statistically, bulls have the overhand here. However, be watchful once we get a higher-timeframe close below the purple support area. Longer-term, the price action still is very bullish, but we might get a couple of bearish moments on our way up.
🔥 Bitcoin Breaking Out! $40,000 Here We Come 🚀Bitcoin is currently in the process of breaking out of a bullish flag pattern that has been in the works ever since we hit 35k last week.
If we can get a 4H candle close above 35,250 I'm considering it a successful break out, with a likely continuation of the bull trend.
40k is my target for now, as per my initial bullish break out analysis several days ago.
Keep in mind that we have a FED meeting tonight. The market expects the rates to remain the same, so unless the FED will surprise the market it should be business as usual?
Nevertheless, things are looking better for the bulls!
Xau/UsdHello traders!
Scenario number 1:
The pair is in the canal scheme and in the accumulation area. If the price does not break the level (1976.00), then the pair will continue the channel scheme with the target (1924.00).
Scenario number 2:
If the price breaks the level (1976.00), then the pair will continue by retesting the levels: (1908.00) and (1885.00).
Be careful with the positions! War is unpredictable!
Wait to enter the trade! Be careful!
Don`t forget to look at the economic calendar!
MAKE MONEY AND ENJOY LIFE 💰
THANK YOU!
GOOD LUCK!
🙏🏻🙏🏻🙏🏻
🔥 Stablecoins Breaking Out: This Time Is Different! 🚨If you've followed my analyses for a while, you've seen this chart before. This is a chart of the relative total stablecoins marketcap. In other words, the stablecoins marketcap divided by the total crypto marketcap.
In my previous analyses, I stated that BTC dumped every time that the bottom support of the channel has been hit, with my most recent analysis talking about an impending dump after we hit it again in July. This was also the main reason why I was bearish during August and September.
However, this time is different! For the first time since 2019, the relative stable coins marketcap has fallen through the bottom support of the channel. This is great news for crypto, since a rising value often means more bearish market conditions.
With stablecoins falling, this could very well be the start of a longer-term downtrend, which is great for crypto as a whole because stables are being spent instead of being held.
Gold buyAs gold is in a buying position as its in a strong consolidation phase and formed a bullish penunt pattren and the another confluance is 200EMA is also in buying confluence and price has formed a bullish Engulfing candle so it seems that price will go buy
🔥 CAKE Falling Wedge: Break Out Expected!On several previous occasions I've written about CAKE and the fact that this token is dying. I don't see CAKE perform well in the next bull-run, but that doesn't mean that CAKE can't go up.
I'm looking at the falling wedge on the chart. If we can get a break out in the near future, ideally above 2$, I'd wager that the break out is a success. My target would be 10$. Might be far-fetched, buit seeing that CAKE was one of the major losers of the bear market, there's potential for a big bounce.
🔥 SOL Waiting For Break Out: Bulls Are Feasting!SOL has been one of the bigger winners of the last few weeks, seeing a 100% increase since the September lows.
However, caution is advised for the bulls. SOL has reached a very important area of resistance, so some profit taking is to be expected here.
However, with BTC looking great, I'd be surprised if SOL won't break through this resistance area. Personally, I'm going to wait for a break out and retest of the resistance before making an entry.
NEAR and FET: Similar Fakeout PatternsThe cryptocurrency world often surprises us with intriguing market dynamics, and today, we'll delve into NEAR and FET, two projects that have crafted similar fakeout patterns but may be charting different paths forward. NEAR executed a "sweep of the lows," while FET is forging a "double bottom" pattern, both aiming for a potential ascent to $0.55. Let's explore the nuances of these setups. 📈🔍
NEAR's "Sweep of the Lows":
NEAR Protocol (NEAR) recently performed a "sweep of the lows," a strategic move designed to clear out sell orders at lower price levels. This maneuver creates a potential foundation for an upward movement.
FET's "Double Bottom":
Fetch.ai (FET), on the other hand, appears to be forming a "double bottom" pattern, characterized by two distinct price lows. This pattern often signifies a shift from a downtrend to an uptrend and can lead to notable price gains.
The $0.55 Target for Fetch
Trading Strategy:
Observation: Keep a watchful eye on the price action of NEAR and FET, and how they interact with their respective patterns.
Risk Management: Prudent risk management is essential, particularly when dealing with the inherent volatility of the crypto market.
Stay Informed: Stay up-to-date with the latest developments and news related to NEAR and FET that could impact their price trajectories.
Conclusion:
In the crypto market, similar patterns can lead to varying outcomes. While both NEAR and FET are eyeing the $0.55 level, the paths they take may diverge. As traders and investors, it's crucial to remain adaptable, stay informed, and exercise caution as you navigate these distinct journeys.
Remember that the crypto market can be as unpredictable as it is exciting. May your trades be prosperous, no matter which path you choose to follow.
❗️Get my 3 crypto trading indicators for FREE❗️
Link below🔑
🔥 Bitcoin Most Overbought In 2.5 YEARS: Potential Danger AheadIn this analysis I want to shed some light on the fact that the weekly RSI on Bitcoin has reached the highest value in over 2.5 years. The last time that we weekly RSI reached above 70 was during the height of the bull-market, back in April 2021.
Historically, Bitcoin's weekly RSI has very often been above 70, just scroll back the chart. However, the timing is interesting. Although the price is going up and people are feeling bullish, this is not a bull market (yet). So, a patient bear might want to step in during a period of heavy buying to bet on a potential downturn.
I'm still bullish, but I also have to admit that there's a risk of Bitcoin correcting in the near future. Stocks are selling off, the price has hit resistance, weekly RSI above 70. The perfect conditions for a bear, one would think.
Where do you see the price going in the next few weeks? Correction, or a move towards 40k? Interested to hear your thoughts 🙏
🔥 Ethereum On Key Resistance: Bears Are Watching 🚨In my most recent ETH analysis I took a look at the long-term rising wedge pattern that has been playing out on the ETH chart since early 2017.
I noted that the break out occurred, and could potentially lead to more selling. However, now that I switched to a bullish view of the market (because of the BTC break out), I think it's likely that ETH will go up as well.
However, bears are closely watching this resistance (previous support). If the ETH bears want to push through, now is the time. Once we're above this resistance, we're likely back in full bullish territory.
Bitcoin needs to push through in order for ETH to go up as well. Watch this resistance closely, since I'm expecting a break out rather soon.
Google Bearish for limited timeChart currently shows Bearish Signal as per the following reasons:
Indicators:
1. Slight Dark Cloud cover indicated
2. Two Black crows, today's trading will indicate if three black crows are confirmed.
3. Slight Bearish divergence
Patterns:
1. Bearish rising wedge on graph - indicates a potential bearish signal
Bullish After Cup and Handle Formation
Although it seems that perhaps the bearish trend may be limited to form a cup and handle pattern, once handle is broken - uptrend to continue.
🔥 Bitcoin Bouncing Off Resistance: Bulls Still Fighting!In my most recent BTC analysis I talked about the fact that BTC managed to break out through the main bear market resistance, which made me switch bullish with a target of 40.000, which has played out well!
For the time being, BTC has a bit of trouble getting through the top resistance of the rising wedge pattern. Personally, I'm anticipating a break out soon, seeing the amount of new buyers entering the market.
On the other hand, we can still fall back towards the support of the pattern. Not very likely, but surely a possibility. In that case, buying from the bottom support would be a great entry point.
Till then, 40k is the target.
🔥 APE Falling Wedge & Oversold: Massive PotentialAPE has been one of the weakest big tokens of this year, falling over 60% from the January 1st value.
However, there's some light at the end of this dark tunnel. A falling wedge pattern has emerged on the weekly chart, as well as the fact that the weekly RSI has hit oversold levels for the first time in the (Binance) history of this token.
This trade is risky, because the break out has not yet been confirmed. However, I think it's worth the risk because this token has been losing all year and is due to a bounce. A more defensive strategy would be to wait for a break out of the falling wedge.
