#Altcoins TOTAL2\TOTAL3\TOTAL Crypto will destroy you mentally before rewarding you financially! Only the strongest minds will win!
BTC doesn't necessarily need to break down below the channel. However, if it does, it should quickly recover and move back within the channel. If BTC closes a daily candle below 86k, we can consider the bullish trend to be over, at least in the short term. KUCOIN:BTCUSDT
Analyzing the chart using technical indicators and price action, EURUSD is setting up for a Short possibility. Price is at a resistance level, long term CCI are bearish, Short term CCI indicated a pullback. Confirmation would be to see short term CCI return to bearish. Price is also in the premium level of the current range.
SPY TA 1/8/25 You are welcome our FREE trading discord as we have a lot of great conversations in the lounge channel to share what we have learned and discuss ideas. We also have many public channels for charts and alerts. https://discord.gg/bQz3JxQnJr
The path to support can be quite complicated. If the harmonic pattern on BTC plays out, we might first see a move to 3800. If it doesn't, ETH could drop into the BUY ZONE immediately. What’s important is that the 2800-3000 zone has enough confluences to justify a buy.
Good Evening and I hope you are well. tl;dr oil - Bearish but only slightly and probably better after a lower high above 74. Bears broke the bull trend line and made new lows. 75 got 2 big rejections and we either continue down or we do a lower high below 75.29. Selling below 73.5 has not been profitable for a week, so don’t try be the first. On the daily chart it’s still just a minor two-legged correction, so it’s not the best short to take. Bears probably want better confirmation. Their first target below 73 is 72 and then likely the daily 20ema around 71.5. comment: We have touched the bear trend line and my bullish targets are met. The daily bar closed on it’s low and is decent enough for bears to get potential follow-through into the end of the week. I would want either very strong confirmation for shorts below 73 or a lower high below 75 before I short this. No interest in longs. current market cycle: trading range key levels: 71 - 75.5 bull case: Bulls are still in control and making higher highs and higher lows. They want a daily close above 75 to retest the October high 77.38. They see a two-legged correction on the daily chart and that is a buy signal in a bull trend. Invalidation is below 71. bear case: Bears producing amazing bear bars above 74.5 but the follow through is terrible. They need lower lows below 72.7 to trap late bulls. The volume increase on the selling is good for them but until the trading range 72.7 - 75.3 is broken, bulls remain in control or market is at least neutral inside that range. I do think the overall structure on the daily/weekly time frames is in favor of the bears and once they get below 72.7, it’s a sell signal if you can hold a swing short with a wide stop. Next target is 72 and then 71.5ish (daily 20ema). Invalidation is above 75.3. short term: Neutral inside range and bearish below 72.7 or above 75 for a swing short. medium-long term - Update from 2025-01-02: Still no better medium-long term outlook to write about. The triangle has been going on for so long, it’s highly unlikely that we will break above it. current swing trade: Nope trade of the day: Selling 75 again was decent for 200 ticks.
The price has dropped and reached a strong support zone, showing a strong reaction from buyers. Now, we can expect either a rebound and continuation in the buy direction or a break of our zone with the price continuing in the sell direction. However, we must be cautious of a potential false breakout, so it's important to wait for market confirmation.
Are you still sure about that?? Sure BTC, worst-case scenario, may even fall to 74k FVG or 85k Fibonacci-support at short-term and that'll imply BTC pierced with full force its current Ichimoku support, but you're missing the big picture... BTC ultimate potential for this year as per Elliot-Wave theory and Fibonacci levels is to reach 333k around 4/20... And yes I'm not joking, if we reach that ultimate Elliot-Wave impulse wave then we can talk about a proper correction in the first half-of the year and then the second Primary Elliot-Wave impuse comes... If I ask if I'm still sure about something: I'd say that Seeing is believing... DYOR/NFAD
Good Evening and I hope you are well. tl;dr gold - Neutral. Higher highs and higher lows but bulls are barely advancing the price. We have still not touched 2700 and even if we get there, I think we find more sellers than buyers and continue sideways in a bigger range. Every new high is sold and bulls will only try so many times before they give up. Bears need lower lows below 2660, bulls want 2700 and bulls are still favored for now but only on pull-backs. comment: 4 pushes up now and selling new highs has been profitable for 3 weeks. 2700 is the absolute max I can see this touching but I’d much rather sell new highs than looking for longs on this. current market cycle: trading range key levels: 2560 - 2700 bull case: Bulls want 2700 next but I doubt they will get much higher than that. That view has not changed over the past 2 weeks. They are fine as long as they are making higher lows and higher highs but they will only try so many times before we see a bigger pullback. Structure-wise bulls do not have much going for them and neither the bears. Market is in an upwards trending trading range and you should not over analyze it. Invalidation is below 2640. bear case: Pullbacks are getting bigger but bulls buy it all and bears can’t get follow-through selling after a decent spike. The spike is likely someone big dumping huge positions but it doesn’t matter. I expect more sellers to come into this once we get closer to 2700. First target for bears is a break of the trend line on the 1h tf and a new low below 2650. Closing the week at or below 2650 would be good for bears because that’s where we closed last week and my neutral price for now. Invalidation is above 2710. short term: Bearish at new highs (at or above 2680) but market is in a trending trading range. Don’t swing for the fences on shorts. medium-long term - Update from 2024-01-02: If we break strongly above 2700, we will likely retest 2740-2760 and depending on that move, we will either stay inside the big range 2560 - 2760 or retest 2800 or even higher. current swing trade: None trade of the day: Shorting close to 2680 was good for the past 5 days.
PANW is in the midst of a long overdue breather in a year long uptrend and after its rocket run from August through early December when it gained over 35%. Its correction may not be over yet, though I don't think it will drop much below 165 near term unless the whole market sells off. I'm just in for a quick buck so it all doesn't matter much to me anyway. 4 down days in 5 is also a selling point for me here. I went long at the close today at 172.83 Per my usual strategy, I'll add to my position at the close on any day my algo still rates it as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit. As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.