The price has pushed up strongly, breaking through the critical 0.618 Fibonacci level, which now serves as a key support zone. Over the past few days, price action has narrowed, indicating indecision at this level. Momentum Indicators: RSI: Currently overbought at 82. Stochastic RSI: Also in the overbought territory at 89, with K crossing over D signaling waning buying pressure. Rate of Change (ROC): Is declining and sitting at 52, reflecting a slowdown in price momentum. All momentum indicators suggest that buyers may be losing steam, increasing the likelihood of a correction. Key Levels to Watch: If buyers can sustain the price above the 0.618 Fibonacci support, bullish momentum might continue. A daily close below the 0.618 level could signal a breakdown and a potential correction. Conclusion: This is a critical moment. With momentum slowing and indecision dominating the chart, it’s essential to wait for confirmation before taking any action. A breakout or breakdown from this range will provide clarity on the next potential move.
There is a higher chance of breaking down with a bearish MACD cross on the daily chart. What do you think?
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Let’s clear 27 first then straight to 34 . making higher highs and higher lows is bullish also accumulation looks solid obv looks good . Immediate support at 24.50 we will see if when it breaks up soon . Long term target for this coin is easily all time high no reason why this only has done 2x since the bull run begun ,
Hi, traders! Let’s take a look at the 4-hour chart for DOGE/USDT, where things are getting interesting. ?? ? Current Market Situation: • Trend: Uptrend ?. The price is holding within the green channel, indicating continued bullish momentum. • Key Levels: • Strong Resistance: $0.48 – a level where the price previously struggled to break through. • Support: $0.44 – a level that is currently holding the price steady. ? Indicator Signals: • Signal Indicator shows buy points (Buy), confirming bullish momentum. • RSI is in the overbought zone, suggesting a possible correction before further upward movement. • Volumes are decreasing, which may indicate a slowing of the rally near the resistance zone. ? Price Movement Forecast: • Probability of Growth: 60%. If the price consolidates above $0.48, it could open the way to $0.50. • Probability of Decline: 40%. A retest of the $0.44 support level is possible to gather liquidity. ✅ Recommendations: • What I’m Doing: Waiting for confirmation of a breakout above the $0.48 zone to open long positions. If the price drops to $0.44, I’ll consider buying on a bounce. • Caution: Be aware of potential market slowdown due to declining volumes and RSI being overbought. ? Enjoyed the analysis? Support this post with a rocket and follow me for more updates! ❓ Many of you ask which indicator I use. It’s the Midas Multi Indicator – you can get it for free by following the link in my profile bio. ?
When looking at the weekly chart of BINANCE:ETHUSDT.P we find a Yearly Q4 gap in Weekly chart that we are just about to close above it with Daily PSP that closes above it (there are still 2H left for the daily candle). This makes be believe we'll keep this bull run until 4420$
WTI crude oil has been in a steady downtrend and recently formed a potential supply zone (purple area) around $69.50–$70.15, aligning with a key inefficiency. Price action suggests a bearish reaction at this zone, with the potential for lower highs before a continuation to the downside. Liquidity below $66.68 is the next probable target as sellers dominate the market. The setup favors waiting for price to tap into the supply zone, showing clear rejection signs before executing shorts. A break below recent lows would confirm bearish momentum, with further downside targets in the $65.50–$64.50 range.
The Weakest Candle A Spinning Top/Bottom (a candle with the same sized upper and lower shadow) is the weakest and the most important candle for us. Note that the body size of the candle is not important. We analyze it like this: 1. if it appears in the middle of a trend, we expect the trend to continue, as a medium-sized candle in the direction of the trend. otherwise, most likely we will get into range or reversal. 2. If it appears at a key level, until observing the next candle, we cannot analyze what could happen. If there is at least a medium-sized candle in whatever direction, we expect the price to continue in that direction, otherwise, it's a range! Let's look at the chart: - Candle #1 is in the middle of a trend, but after it, we see a bearish candle. So, it's a range or reversal. - After seeing candle #1, we draw the box for the MC candle. So, candle #2 is shaped at the support of it. We have to wait to see what will come after it. Because the next candle is a bearish one, we expect the bearish movement to continue, and it continues. - Candle #3 shaped after a strong breakout. If trends tend to continue, we expect at least a medium-sized candle in the direction of the trend. Otherwise, it'll be a range or reversal coming.
Technically, there is room for the EURAUD to dive downward, especially if it develops a bearish harmonic pattern on the daily chart. Fundamentally, it may depend on the RBA interest rate decision and statement, which is to be released on Tuesday. And employment data on Thursday. Fingers crossed. :)