After a strong rise, the recent trend of gold prices shows a certain degree of correction. The current gold price is approaching the key support range of Fibonacci retracement, especially the 0.236 and 0.382 levels, which are located near $2889.82 and $2905.66 respectively. This area may provide support to the price and prompt a rebound. The observed 0.618 retracement level ($2931.25) is an important pressure level. If the gold price breaks through this level, the upward momentum may be restored. The current rising trend channel marks the trend of gold prices. The current price is below the trend channel, which may mean that the price will continue to be under pressure in the short term. When the price approaches the support line area (near $2882.23), if there is a rebound, it may re-challenge the upper limit of the upward channel. Price rebound expectation: Hourly trend and support level, gold prices are likely to rebound in the current support range. If gold finds support near $2,882, it may move closer to $2,900 again, or even break through higher levels (such as the $2,920 area). Support and resistance levels: Short-term support levels are around $2,882.23 and $2,879.86. If the price breaks through these support levels, it may further drop to lower price levels, such as the $2,790.11 area. The upper pressure level is above $2,930. If it breaks through this position, gold may continue to rise. Overall, the current gold price is in a correction range, pay attention to the support level and Fibonacci retracement level. If the price can find support around $2,880 and rise to around $2,900, there may be an opportunity to rise in the short term. However, if the key support level is broken, it may cause the price to continue to fall. Investors should pay close attention to market dynamics and make corresponding trading decisions near key technical levels.
AUD price has been bearish for a while, now waiting for price to correct itself and continue to the upside. for the 61.8 or the supply zone that is under the retracement
Crypto Rally holding till Mar mid Apr 25 ? hope BTC Money Pulled out till the financial year end and resume to divide and push to Ecosystem / Blockchain Coins. Money need to shift before any Fed Statement on Banking make decision on crypto Regulations and create first base by U.S. govt.
Bitcoin appears to be set up at the 1.902 HOP for a Type 2 retest of the Logscale Bearish Butterfly that resulted in a major Type 1 reaction from the 1.618 Fibonacci Extension back in 2021, where it dropped from $69,000 to $15,500 over the course of several months before ultimately bottoming at the PCZ of a smaller Log Scale Bullish Butterfly which signaled the Type 2 run up to the 1.902 HOP of the Bearish Butterfly where it is now. As it tests this level the MACD and RSI are both Diverging Bearishly and the RSI especially seems weak as it now struggles to even crack above 70 level. This signals to me that the RSI has confirmed exhaustion after divergence at the HOP and that it is likely ready to start declining further. Saying as though this is the type 2 test, I'd suspect that we'd make a lower low than our previous Type 1 reaction low at $15k, perhaps landing us around $12-10k; but if those levels don't hold It would be technically viable to assume BTC would go for the 0.886 retrace at around $4.6k
As we can see FLux is trying to break the big resistance area. we need to see during the next 4-8 hours how the market will be and then decide if Spot trade will be ok. if all will be ok then at least 60% pump we will see nfa dyor
$Wojak has some nice posturing for some upside. Looks impulsive to the upside. Fib Targets listed.
Dear Friends, How I see it: 1W TF - Inverse Hammer + Inside Bar close Price can potentially chase the 1W wick. Resistance - 1) Psychological @ 154.000 Support - 2) Current support @ 151.750 = 78.60% CPI Day rally 3) Key demand @ 150.930 If this confluence is breached, next psychological target @ 149.000 Thank you for taking the time to study my analysis.
? #DOT Analysis : Update ✅There was a formation of Falling Wedge Pattern on daily chart? We could expect a bounce from its major support zone. ?Current Price: $4.930 ? Target Price: $6.400 ⚡️What to do ? ?Keep an eye on #DOT price action and volume. We can trade according to the chart and make some profits⚡️⚡️ #DOT #Cryptocurrency #TechnicalAnalysis #DYOR
The gold price is showing more upward tendency to approach recording new historical levels, and it needs to obtain positive momentum that will contribute to pushing the price to continue rising within the bullish intraday channel that appears in the chart
Nifty & Sensex Analysis & Trade Plan for 17th February