As you can see the current market price has touched the previous Wave III, showing a CHOC (Change of Character) in market structure. I will now be looking for bearish price action to carry on down towards the last major low Wave IV at $2,731? In any healthy bull or bear market, price should always take out Wave IV before it can carry on its intended trend run.
yooo here are the zones I have for consolidation and some supports and resistances shown. My bet is we trace back to around 89k then bounce back up, if this tariff war sparks up. best case scenario is that we crab up for a little while until more buying power comes in from the created etfs and whales.
Technical Analysis: 1. Trend Overview: * SPY is consolidating within an ascending wedge pattern but is now testing critical support levels near $598. * MACD shows bearish momentum as the histogram dives deeper into negative territory. * Stochastic RSI has entered oversold territory, hinting at a potential bounce but no confirmation yet. 2. Support and Resistance: * Immediate Support: $598. * Key Resistance: $610, aligned with the highest positive NETGEX wall. 3. Volume: * The recent decline is supported by increasing volume, signaling strong selling pressure. GEX and Options Perspective: https://www.tradingview.com/x/8WlCV3pO/ 1. Gamma Levels: * Resistance: $610 (highest positive NETGEX), followed by $615. * Support: $598 and $595 as critical PUT walls with -59.64% and -67.37% negative gamma concentrations, respectively. * Extreme Bearish Zone: Below $590, where PUT dominance may accelerate downside moves. 2. Implied Volatility and Sentiment: * IVR: 19.4 indicates moderate volatility. * IVx average: 15.7, showing slightly elevated implied volatility compared to historical norms. * PUT$ dominance at 70.3% highlights bearish sentiment in the options market. Trade Scenarios: 1. Bullish Setup: * Entry: Above $601 with confirmation of strong buying volume. * Target: $610, with a stretch target at $615. * Stop-Loss: Below $598. 2. Bearish Setup: * Entry: Below $598, confirming a breakdown from support. * Target: $590, with an extended target at $585. * Stop-Loss: Above $601. Actionable Suggestion: * Watch for a reversal signal at $598, potentially confirmed by bullish divergence on MACD and Stochastic RSI. * In case of a breakdown, consider aligning trades with PUT-heavy zones below $595 for downside continuation. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your due diligence and manage your risk effectively.
Story Behind the Chart: I’m taking a bearish position on BigBear.ai (BBAI), based on the technical signals visible on the chart. The recent price action suggests a potential downward movement due to the following reasons: Bearish EMA Cross: The EMA 9 (green) has crossed below the EMA 21 (red), signaling a shift in short-term momentum to the downside. This is a classic bearish signal, especially when combined with resistance levels. Rejection at Resistance: The price faced rejection near the €4.62 resistance level, indicating strong selling pressure. The presence of a bearish engulfing candle adds further confirmation to this resistance. Support and Resistance Levels: Resistance: €4.62, a critical level where sellers have dominated, is the top of the zone that limits further upside. Support: €4.11 is the key level I’ll monitor. A breakdown below this could accelerate bearish momentum toward my take-profit target. Take-Profit Target: My target is set at €3.80, aligning with the next major support zone and matching the downward momentum expectations. Position Details: Entry Price: €4.29. Stop-Loss: €4.54 (above resistance to manage risk). Take-Profit Target: €3.80. Risk-to-Reward Ratio: 1:2 (Risk €0.25 per share, Reward €0.49 per share). Risk Management: Risk per Share: €0.25 (Stop-loss at €4.54). Reward per Share: €0.49 (Take-profit at €3.80). Position Size: 400 shares (with a €10,000 capital allocation). Maximum Risk: €100 (1% of capital). Potential Reward: €196 (2% of capital). Why I Believe It Will Go Down: Technical Indicators: The bearish EMA crossover is a reliable signal that aligns with the rejection from resistance. Market Context: Current news, while positive for the long term, has already been priced in. The price shows exhaustion at higher levels, creating an opportunity for a pullback. Price Action: The bearish engulfing pattern, coupled with rejection at €4.62, confirms that sellers are gaining control. My Expectations: If the price breaks below €4.11, it could accelerate toward the €3.80 target. However, if the price moves above €4.54, my stop-loss will limit losses, ensuring disciplined risk management.
Who remembers this chart I posted a month ago on TOTAL2 / BTC ? This was the one that TradingView shared of mine on 12/31/24 Called the double bottom here. My squiggles are undefeated. Alts should be close to the end of bleeding. One last flush I presume (hope) ?
I think we'll fill the gap of 102,000 first, then if we get back to the mid-channel, we can expect growth, otherwise we'll go to the bottom of the channel.
With price ranging in the last week, we'd seek to take out liquidity and head for the downside as we're currently bearish.. Would be looking for a sell from the zones indicated in the jpeg. Safe trading guys?
This idea has been supported for a few weeks, and you can choose a short or longer position. This analysis is not advised to everyone. It is just noticed for you. Best wishes to you.
This is My Idea about BTC daily chart ... follow me for future TA about crypto and Gold
As DXY is open gap up with 200 pips in Bullish Then now we can see A bearish form in gold we have to confirmation for this Recent all supports is break now and market is targeting support at 2777 and our demand is also broken TRADE SMART! WITH PROPER MONEY MANAGMENT