Welcome to this quick update, everyone! Bitcoin (BTC) is currently trading at around $98,400 at the time of writing. BTC is making a **bearish retest of the 21EMA** on the daily chart, which is a crucial indicator for identifying short-term trends. This is particularly significant for traders involved in futures and options within the crypto market. - Break above the 21EMA is bullish. - BTC is also retesting the previously broken pennant pattern to the downside. If you're feeling FOMO (fear of missing out), it's better to wait until BTC reclaims the Blue EMA and trades back inside the channel/pennant. If these two levels are recovered, we could anticipate a new all-time high (ATH). However, until that happens, exercise caution. Trading volume is exceptionally low across exchanges, and it's worth noting that during holiday seasons, market makers often exploit these conditions to manipulate prices, leaving retail traders at a disadvantage. While you're free to make your own decisions, my advice is to trade with confirmations. This approach provides an edge and makes holding positions more comfortable while effectively managing risk. If you found this analysis and chart helpful, please hit the like button to show your support and feel free to share your views in the comments section. Thank you! #PEACE
I called this date months ago. this will be the final bottom before the 2024 cycle ends
NASDAQ:LCID could be a bottoming out stock in play after it broke above the key long-term downtrend line since Nov 2021. Furthermore, the stock has broken above the bearish gap and if it could sustain above the levels: US$3.17, then it could be a potential bottoming out play. Ichimoku has shown three bullish golden crossover and the Stochastic Oscillator is showing a recovery in bullish momentum. Volume is expanding in a healthy fashion, making the stock attractive for mid-term momentum play. If it corrects in near-term, then 2.31 support will be worth looking out for a rebound.
Our Preferance Potential Reversal Ahead My analysis focuses on key technical levels and anticipated price movements for Bitcoin in the 1-hour timeframe: Support Area: The $92,633 level has been identified as a significant support zone where buyers are likely to step in if the price retraces. Resistance Zone: The $100,601 level represents a strong resistance where sellers could exert pressure, potentially causing a reversal. Current Outlook: BTC/USD is trading within a range, with a possible short-term bullish move toward the resistance zone before facing a potential bearish reversal back to the support area. Technical Pattern : A clear range-bound movement with lower highs suggests caution, especially near key resistance zones. Fundamentals: Keep an eye on macroeconomic updates and Bitcoin-specific news, as these factors could influence price momentum and market sentiment. This setup provides opportunities for both breakout traders and range-bound strategies. Manage risk effectively and plan entries and exits carefully. 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.
This is a 10 year chart of the 20 Week SMA of the US 10 Year Treasury Bond Yield. The simple moving average of the US10Y formed similar head and shoulder patterns, one inverse, before the last two large reversals.
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