? The USDJPY appears to be overbought following yesterday's bullish movement. The price might pull back from the highlighted blue daily resistance, potentially reaching at least the 156.48 level. Additionally, I spotted a double top pattern on the hourly chart, which serves as confirmation.
Just now opened a bitcoin short. Anticipating further decline down to 94000 and lower .
Ethereum (ETHUSD): Consolidation Phase Amid Mixed Market Signals Ethereum (ETHUSD) continues to consolidate within a defined range, with the upper boundary near 4085-4100 and the lower boundary around 3530-3440. Despite the recent bearish pressure, the overall market structure still leans bullish, supported by favorable fundamentals—barring certain developments in recent news that have introduced a layer of uncertainty. This consolidation phase reflects a temporary balance between bullish and bearish forces, with potential for significant movement once key levels are breached. Current Market Overview At present, Ethereum is trading near a critical resistance zone between 4090 and 4100, which has historically proven to be a formidable barrier. Breaking through this zone will likely require a substantial influx of bullish momentum and trading volume. The broader trend remains upward, but yesterday's news has introduced an element of caution. The fundamental backdrop is ambiguous, with hints of a possible shift in monetary policy. While the news of a decline in interest rates initially appeared bullish, indications of a more hawkish future stance have tempered optimism. Bitcoin, the market leader, has shown signs of a minor correction, which often correlates negatively with altcoin performance, including Ethereum. Technical Analysis: Key Support and Resistance Levels Resistance Levels: 4086-4100: A strong resistance zone that Ethereum is currently testing. Breaking above this range could pave the way for a retest of higher levels. 4372: A significant level that aligns with the bullish continuation scenario if momentum sustains above 4100. Support Levels: 3530-3440: This zone has emerged as a robust support area, underpinned by significant liquidity. It is likely to act as a magnet for price action in case of further downside. 3261: The next major support level in the event of a deeper correction, signaling potential bearish risks if the price falls below 3440. Market Sentiment and Potential Scenarios Ethereum's bullish structure remains technically intact, as evidenced by the formation of higher lows and the maintenance of key support levels. The 3530-3440 zone represents a strong demand area, and a retest of this level is a plausible scenario. Such a retest could serve as a "liquidity grab," enticing sellers before the price reverses upward, targeting higher resistance zones. However, risks of further declines cannot be ignored, particularly if broader market conditions deteriorate or Bitcoin extends its correction. In this case, Ethereum may retest deeper support levels, potentially challenging the bullish outlook. For now, the market appears to favor a consolidation phase, with the potential for upward momentum taking precedence. Strategic Approach: Trading the Range Given Ethereum's current position within the consolidation range, a pragmatic trading strategy would involve leveraging the boundaries of this channel. Traders may consider entering long positions near the 3530-3440 support zone, targeting the upper boundary around 4086-4100, while employing tight stop-losses to manage risk. Conversely, short positions could be explored near the resistance zone if bullish momentum falters, with support levels serving as potential take-profit targets. Outlook for Growth Despite short-term uncertainties, Ethereum's longer-term outlook remains optimistic. A successful breakout above 4100, confirmed by strong volume and momentum, would significantly strengthen the case for further growth. Such a move could open the door to the next major resistance level at 4372, potentially marking the start of a renewed bullish rally. For now, the consolidation phase represents a period of accumulation, with the market preparing for the next decisive move. Monitoring macroeconomic developments, Bitcoin's price action, and Ethereum's interaction with key support and resistance levels will be critical in shaping the near-term trajectory.
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Double Top Pattern: The chart shows a double top pattern (marked as "Top 1" and "Top 2"), which is a bearish reversal pattern. The neckline for this pattern has been broken, confirming bearish momentum. The pattern suggests that the uptrend has reversed, leading to a downward move. Falling Wedge Pattern: After the double top, the index has formed a falling wedge, which is typically a bullish reversal pattern. The price has broken out of the falling wedge, signaling the potential for a short-term bounce. Targets: Immediate Upside Target: The breakout from the falling wedge suggests a potential recovery toward 24,200–24,300. Downside Target: If bearish momentum resumes, the index could move toward 23,500 as marked on the chart. Volume Analysis: The breakout from the falling wedge is accompanied by a slight increase in volume, which supports the bullish case. However, sustained volume is needed for the uptrend to continue. Support and Resistance Levels: Support: Immediate: 23,800 Stronger: 23,500 Resistance: Immediate: 24,200–24,300 Extended: 24,500 Moving Averages: The index is currently trading near its short-term moving averages, which could act as dynamic resistance. A breakout above these levels would confirm further bullish momentum. Fundamental Analysis of NIFTY Index Macroeconomic Environment: Global Factors: Uncertainty in global markets, including rising interest rates and geopolitical tensions, have added to the volatility in Indian markets. Domestic Growth: India's economy continues to grow steadily, supported by strong consumer demand, government infrastructure spending, and a robust services sector. Sectoral Performance: IT and Pharma: Defensive sectors like IT and Pharma have seen relative strength amid global uncertainties. Banking and Financials: Despite some recent corrections, banking and financial services continue to drive the index, supported by rising credit growth and strong results from private banks. Metals and Energy: Global commodity prices and demand from China remain key drivers for metals and energy stocks. Corporate Earnings: Indian corporates have shown resilience with steady earnings growth, particularly in the FMCG, banking, and auto sectors. However, margin pressures persist in some sectors due to higher input costs. Valuation: NIFTY's valuation remains slightly stretched compared to historical averages, suggesting room for further correction. However, strong long-term growth potential keeps the outlook positive. Key Risks: Rising interest rates globally could tighten liquidity. Any further escalation in geopolitical tensions or slower global growth could impact market sentiment. Conclusion: Technical Outlook: NIFTY has formed a double top, confirming bearish momentum, but a breakout from the falling wedge offers a short-term bullish opportunity. Upside Targets: 24,200–24,300 Downside Risk: 23,500 (if bearish momentum resumes) Fundamental Outlook: India’s economic fundamentals remain strong, supported by consumer demand and government spending. While the market faces short-term headwinds, the long-term outlook remains positive, making this an opportunity to accumulate quality stocks during corrections.
BTCUSD - Bitcoin's global uptrend is complete. the global uptrend on Bitcoin (BTC) has come to an end. This point of view has caused an active discussion among traders and investors, especially after key support levels were broken and the market entered a prolonged correction phase. The main arguments of the “wave-watchers” Completion of the 5th Elliott Wave According to Elliott's theory, the global uptrend consists of five waves: three impulsive and two corrective. Some analysts argue that the fifth wave ended at Bitcoin's all-time high around $69,000 in 2021, after which a long correction cycle began. ABC-shaped correction development After the completion of the fifth wave, the market may form a correction in the form of three waves (ABC). Bitcoin's current dynamics, including the price decline in 2022, is seen as the realization of this correction structure. Loss of key support levels Levels that used to serve as strong support (e.g. $30,000 and $20,000) have been broken. This reinforces the view that the market is already out of its global bullish trend phase. Declining institutional interest Many large investors have slowed down their investments in Bitcoin, which also indicates a possible downturn in the long-term uptrend. What to expect next? Wave structure The current correction may be temporary and the market will enter a new phase of growth (the beginning of a new cycle of waves). Key levels to confirm the trend If the price comes back and consolidates above $30,000-$35,000, it will be a strong signal of bullish trend continuation. A move below $10,000 could confirm the end of the global uptrend. Long-term outlook Bitcoin is still an attractive asset to hedge, especially given its limited supply (21 million coins).
Today’s Gold trading zones: For educational purposes only, use at your own risk.
zoom out. chill out. relax, don't panic. Also look at weekly. Looking to btc and end of DEC
Wer Schlachten-Szenen und Kriegsfilmen in epischer Breite etwas abgewinnen kann, sollte heute Abend dringend den TV anwerfen. Auch wenn der Film kontrovers ist.