BINANCE:OMUSDT Volume Surge 24h trading volume at $160.7M, indicating increased market activity. Price up 1.0% in the last 24 hours. Keeping an eye on $7.33 resistance for potential breakout.
1. Market Structure The market was previously in a downtrend but experienced a strong bullish breakout around early March. Price surged upwards, breaking a key resistance zone (now acting as support). The current price action appears to be forming a rising wedge, a potential reversal pattern. 2. Key Levels Support Zone: Around 0.9500, which was previously resistance and now turned into a strong support. Resistance Zone: Around 0.9650, where price is facing difficulty breaking above. Current Price: 0.95986. 3. Chart Pattern - Rising Wedge A rising wedge is visible, which is often a bearish reversal pattern. Price is consolidating near the upper boundary of the wedge, showing signs of exhaustion. If price breaks below the wedge, a bearish move towards the 0.9500 level is likely. 4. Confirmation Factors EMA 50: The price is currently hovering around the 50-period EMA, indicating a possible shift in momentum. Bearish Rejection Wicks: There are multiple rejection candles at the resistance zone, showing seller strength. Breakout Zone: If the price breaks below the wedge and the gray support zone, it will confirm a bearish move. 5. Trading Plan Bullish Scenario: If price breaks above the wedge and sustains above 0.9650, it could push towards 0.9700+. Bearish Scenario: If price breaks below the wedge and the support zone, a drop towards 0.9500 or lower is expected. Best Approach: Wait for a breakout confirmation before entering a trade.
BINANCE:OMUSDT Technical Analysis Ascending triangle forming on the 4H chart. Resistance at $7.33; breakout could signal uptrend continuation. Support at $6.88 remains strong. Monitoring RSI for overbought conditions.
The EURAUD currency pair maintains a bullish sentiment, supported by the prevailing long-term uptrend. However, recent price action suggests an overextended bullish breakout, approaching significant resistance zones on both daily and weekly timeframes. The key trading level to watch is 1.7050. A potential overbought pullback from current levels, followed by a bullish rebound from 1.7050, could extend the upside, targeting 1.7320, with further resistance at 1.7676 and 1.7800 over a longer timeframe. Conversely, a confirmed break below 1.7050, with a daily close under this level, could signal a corrective pullback towards 1.6880 and 1.6800. Conclusion: While the broader trend remains bullish, the current overextended move suggests the possibility of short-term retracements. Holding 1.7050 as support will be critical for further upside continuation, while a breakdown below this level could trigger deeper corrections. Traders should monitor price action closely and adjust risk management accordingly. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Polkadot is back at that major support zone after getting another rejection from the resistance area. Now we are seeing a few things here. Each time we reach the local support zone, which has been forming since 2023, we see a strong overtake of buyers, and after some time we experience a positive upward movement that doubles the price. We are looking here to see yet another upward movement, thoughts? P.S: Keep in mind that current market situations are pretty bad so we might fall lower, but this is still a good opportunity trade that can be taken in our personal opinion. Swallow Team
Oil Rises on Geopolitical Risks, China's Economic Plans Oil prices rise amid renewed geopolitical risks in the Middle East and China's plans to increase spending. Brent crude and WTI are up 1.2% to $71.91 and $68.41 a barrel, respectively, supported by U.S. strikes on Yemen's Houthi rebels that come amid a broader strategy to put pressure on Iran, and fresh Israeli strikes in Gaza. "Tensions in the Middle East have resurfaced, supporting oil prices," ING analysts say. Meanwhile, the market awaits U.S.-Russia talks on a potential cease-fire in Ukraine later on Tuesday. Technical Outlook The price looks to test the support of 67.03 and then will push up to break 68.53. However, breaking 68.53 by closing 4h cancel above will continue the bullish trend till 70.21. Key Levels: Pivot Point: 68.53 Support Levels: 70.50, 71.78, 72.75 Resistance Levels: 67.03, 68.85, 63.51 PREVIOUS IDEA: https://www.tradingview.com/chart/USOIL/iiExiKtb-USOIL-Key-Levels-for-Bullish-Stabilization-or-Bearish-Reversal/
Technicals M2 Money Supply Researcher Lyn Alden confirmed what alot of people already knew in September 2024, when she published a report showing that Bitcoin is strongly positively correlated with global money supply. Her paper concluded that BTC follows money supply 83% of the time and as a firmly risk on asset this makes sense, the more money there is to invest, the more invests in bitcoin. Not sure I can post a link, but if you google Lyn Alden M2 you'll find the report. On 13th January with global inflation cooling and international interest rates starting to fall the M2 Global Supply Index started to increase rapidly. Why then with with the M2 Global Money supply in a steep uptrend is BTC in decline? Well by overlaying the M2 Money supply on the BTC chart we can see that there recently seems to be a pattern with how BTC tracks M2. From the starting point of an M2 reversal it looks like BTC follows with around an 11 week delay. Once BTC starts following M2 it seems to take the same amount of weeks from the start of the move to its peak that the M2 index took. If this pattern holds we are around 2 weeks from a potential uptick in BTC. CME Gap The March 14th gap filled yesterday evening, the March 7th gap remains unfilled. I think we'll need the pre-FOMC volatility to close this out.
Gold (XAU/USD) continues its uptrend, reaching the $3,028 zone. The current momentum looks strong, but a pullback to the support area is possible before the next move up. ? Analysis: • ✅ Global trend: Bullish • ? Expected pullback: To the $3,030 – $3,033 range • ? Target for buys: Potential profit zone $3,050 – $3,065 ? Trading Plan: ? Buy at the retest of the $3,030 – $3,033 support zone ? Stop Loss: Below $3,005 ? Take Profit: $3,050 – $3,065 ? Fundamental Factors: • ? Fed decisions and economic data may influence volatility • ? Demand for gold remains high due to market uncertainty
Not too much to write today because I’m on Spring Break and even though I am trading I’m not at my computer as much. You can see the levels running through the chart. They are all labelled the bear gap is there holding the 35EMA and the 200DMA - that is big. We are Neutral bearish here being above the 30min 25EMA but under the 30min 200MA Grab this chart and let's GO!!!
EURJPY is above the descending channel between the trend lines. The price broke the upper boundary of the channel, formed a harmonic pattern and approached the dynamic resistance. The chart maintains the descending structure. We expect the decline to continue after consolidation under the nearest support level. ------------------- Share your opinion in the comments, and support the idea with a like. Thanks for your support!