The ALGO/USDT pair has formed and broken out of a descending wedge pattern, which is typically a bullish continuation pattern. The price action shows a clear upward momentum after breaking the upper trendline resistance, suggesting the potential start of a new upward movement. Key Technical Observations: The primary trend had been bullish before entering the wedge consolidation, with price making higher lows during the broader uptrend. Within the wedge, we saw contracting volatility with lower highs and lower lows, but the breakout occurred with increased momentum. Support has formed around the 0.464 level, which previously acted as resistance, demonstrating a successful support/resistance flip. Price Targets: 1. Initial target: 0.6054 (previous resistance level) 2. Extended target: 0.7398 (projection based on the previous upward movement) Trading Setup: - Entry Conditions: Price has already broken above the descending wedge resistance and shown initial confirmation. Current price at 0.4374 offers an entry opportunity with the trend. - Initial Stop Loss: Place below the recent swing low at 0.4200, providing adequate room for normal market volatility Risk Management: - Stop Loss Placement: Below the wedge pattern's support trend line to invalidate the setup - Position Scaling: Consider entering 50% position now and adding 25% at each retest of broken resistance - Market Conditions to Watch: Overall crypto market sentiment and Bitcoin's price action Additional Considerations: The breakout is occurring with increasing volume, which adds credibility to the move. The prior uptrend's strength suggests this continuation pattern could have significant upside potential. Trade Validation: - Bullish Case: Sustained trading above 0.4400 with increasing volume - Invalidation: Clean break below 0.4200 would negate the bullish setup Market Context: The crypto market has been showing signs of renewed strength, which supports the bullish case for ALGO. The clean break of the wedge pattern aligns with broader market dynamics, suggesting higher probability of success for this setup.
#Altcoins market cap TOTAL2 TOTAL3 and OTHERS are moving step by step towards the explosion phase!
It's clearly to see a potential inverse head and shoulders forming in NYSE:LLY which can lead us back to $900 area.
Bitcoin's price action signals potential weakness, with the weekly RSI at 78.49 in overbought territory and a bearish divergence forming on the daily chart's RSI. The rising wedge pattern on the daily timeframe further supports a bearish outlook, indicating momentum loss as price approaches the wedge's apex. A short-term correction appears likely, with a possible revisit of the previous all time high. Weekly Analysis RSI (78.49): Overbought conditions indicate that Bitcoin's recent upward movement may have pushed prices into an unsustainable range. Historically, such levels often precede corrections. Stochastic RSI (98.69): Despite being in the oversold zone, the proximity of the K line to the D line suggests a possible momentum shift. If this crossover occurs, it could confirm waning bullish momentum. The weekly timeframe suggests overextension in price action, hinting at a correction. Daily Analysis Rising Wedge Pattern: A well-established bearish pattern; as price approaches the wedge's apex, momentum loss aligns with bearish expectations. A break below the wedge's lower trendline would confirm a bearish move. Bearish Divergence (RSI): Momentum slowing down despite rising prices strengthens the bearish case. This divergence often signals exhaustion in the prevailing trend.
Gold has been showing clear bearish momentum on the 4-hour chart, and the current price action suggests further downside potential. 1️⃣ Rejection from the Strong High: The price was firmly rejected at the $2,740 resistance zone, signaling the dominance of sellers in the market. 2️⃣ Weak Low Target Zones: With the break of structure (BOS) confirming bearish intent, the price is now heading toward key liquidity zones around $2,620 and $2,580. These levels are likely to act as targets for the current downtrend. 3️⃣ Bearish Momentum Accelerating: A series of Change of Character (CHOCH) events and lower highs further indicate that sellers are fully in control, with little evidence of bullish intervention so far. ? Bearish Targets: The immediate target is $2,620. If this level breaks, the next zone to watch is around $2,580, which could serve as the final destination for this bearish move in the short term. Let me know if you're tracking this move or if you see additional bearish opportunities!
Small dip then up Support and Resistance: The stock appears to have found strong support at a key historical level, suggesting a floor where buyers are stepping in. Resistance lies ahead at a higher price level, which could act as the first target in a recovery rally. Trend and Moving Averages: While the stock has been in a downtrend, recent price action suggests stabilization, with a potential shift towards higher lows. Moving averages are beginning to flatten, signaling a possible end to the downward momentum. Volume: Volume patterns indicate accumulation, with increased activity during positive sessions, pointing to renewed investor interest. Indicators: RSI is climbing out of oversold territory, hinting at a recovery in momentum. MACD shows signs of convergence, with a potential bullish crossover that could confirm the start of an uptrend. Reversal Signals: Recent candlestick patterns and higher lows suggest that NKE may have bottomed, with a recovery rally likely if the stock maintains its support level and breaks initial resistance.
This is the same old game bond market played prior to the 00 and 08 crashes. Don't believe me, go to the fed website and see for yourself. The long end of the curve faked out investors back then too. "Inflationary fears". 9 months into the recession they called "recession!!". From a technical standpoint, this is a great area to buy shares and options. I think we'll get a quick reversal here.
Nothing to see here a GP vwap touch we liquidated top longers, made everyone fearful and ofc made a full rotation to high volume areas. ez long
The stock has established a strong support level, providing a solid base for further gains. Resistance is nearby, and a break above this level could signal the start of a significant rally. Trend and Moving Averages: BIRK is trading within a positive trend, forming higher lows that point to sustained buying interest. The alignment of moving averages, with shorter-term averages climbing above longer-term ones, underscores the bullish momentum. Volume: Recent sessions have seen rising volume on green days, indicating strong accumulation and investor confidence. Indicators: RSI remains in an upward trajectory but is still comfortably below overbought levels, leaving room for further upside. MACD reflects growing bullish momentum, with a recent crossover signaling potential continuation of the uptrend. Breakout Potential: A close above the resistance level could trigger a breakout, leading to further gains. Holding above the current support zone will strengthen the bullish case.
Cake Coin did a nice breakout recently where we had left some imbalance zones. We are keeping our attention on the recent re-test, which was a result of the bigger liquidation movement we had bringing the price back right after filling the FVG zone. Although we believe the price will reach it's ATHs soon, on a smaller timeframe we might see some further moves to lower zones IF we do not manage to get back and recover the recent drop we had! Swallow Team