Possible bull blag formation, trading in a channel. Levels mentioned below on the break of this channel where buying can be initiated. Break above will target its ATH 2K or above. Good to accumulate on dips.
I don't have any further explanation. Everything is clear in the chart.
? Welcome to TradeCityPro! In this analysis, I will examine the MAGIC coin. This project falls under the category of crypto gaming and is one of the major projects in this field. ? Daily Timeframe: Reaction to Key Resistance In the daily timeframe, the price recorded its main support floor at $0.2983 and was in the Accumulation phase up to $0.4085. With the breakout above this box, an upward movement began towards the $0.7101 area. The volume of this leg was increasing, showing convergence with the trend. ? Upon reaching the $0.7101 resistance, the price initiated a corrective phase on its first contact, starting with a short-term correction but then extending into a deeper pullback to $0.4085, and now it is again building a new structure. ? As we approach the New Year, the market volume gradually decreases, and personally, in this situation, I prefer to hold fewer positions and wait for the volume to re-enter the market. ? If the $0.4085 level breaks, the market momentum will completely reset, and the price will create a new structure for building a new trend. The most important support for MAGIC is the $0.2983 area, which is the historical floor of this coin and a very strong demand zone. Entry of the RSI into the oversell area will increase the likelihood of breaking this resistance. ? For a long position, the main trigger for now is $0.7101, and if the price stabilizes above this key area, the next resistance will be $0.9344, which is a minor resistance. The main chart resistance currently is at $1.4473. While not the ATH, it is a very strong supply zone, and the price will need significant bullish momentum to break through this area. ? A risky trigger for a long position is $0.4694, where breaking this trigger presents a suitable early long position but raises the risk of the position higher and increases the likelihood of hitting a stop loss. ? Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
As the year draws to a close, GBP/JPY presents an exciting opportunity! Here's the setup: ? Targets: TP1: 200.07 TP2: 202.17 TP3: 204.84 ? Stop Loss: 196.02 ? Key Factors Driving This Trade: Strong GBP Fundamentals: Positive UK economic reports are boosting the Pound. JPY Weakness Continues: Dovish signals from the Bank of Japan keep the Yen under pressure.
Just bought puts Jan 17, strike 20. I think is going back to 18. Let's see.
Watch out for a reversal. Buy DOGE. BUY:0.2965 STOP:0.2900 Target: >0.3100
ETH/USD is forming a bearish setup as price breaks down from a rising trendline near the resistance zone. The SL (stop-loss) is placed above the resistance area ($3,440), while the target aligns with the support zone near $3,061. Fundamentals indicate increasing selling pressure, aligning with the technical bearish divergence. Manage risk accordingly Note: This analysis is for educational purposes and not trading advice. Consider market conditions and strategies. Please do not forget the like button, Share it with your friends,thanks, and Trade safe
EURUSD is remains bearish on its 1D technical outlook (RSI = 41.523, MACD = -0.006, ADX = 15.575) but today it crossed and closed a 4H candle over the 4H MA50 for the first time since December 10th. Along with that, it crossed above the LH trend-line, thus technically invalidating the short term bearish trend. Given the recent December 18th double bottom on the S1 Zone, the pattern that prevails is a Rectangle, thus today's breakout is technically targeting the patterns top. Consequently our target is near the R1 Zone (TP = 1.0600). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
The market is currently testing the current Weekly 0.618Fib area. Based on 4HR TF, the market seems to be forming a possible reversal pattern. We could see SELLERS coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
The price will continue its correction and after that will test its upper resistant which needs more inflow of money and large Volume to considering New Bullish Trend