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Consolidation

BITCOIN Trapped In A RANGEBOUNDThe price of BITCOIN has been trapped in a well-established trading range between $45.5k and $52k for exactly one month now. The price of bitcoin is still in a state of consolidation and nothing has changed in general as the price moves inside the range. However, if the price breaks to either side of the boundary, traders can enter in the direction of a breakout or breakdown from the trading range. To confirm the move is valid, use other indicators, such as volume, bollinger bands etc along with price action. Let's go over the two key scenarios : - The first possibility involves a squeeze around the trading range's upper boundary ($52k-51k) and a breakout, which could present a strong buying opportunity. - A renewal of the key level of $42K is the second scenario where the wick gets filled. It might be an excellent selling opportunity if there is a breakdown of the trading range's lower boundary ($46k-45.4k). There's a high possibility that buy orders at $42k-40k zone gets filled from where the price may finally bounce back to the upside. Not a financial advice. Do not forget to DYOR. Feel free to share your thoughts on BTC in the comments below.
by Wolf_Of_Alt_Street
1
AVAX/USDT Consolidation -> Trend Continuation [Inverted Chart]Note: I avoid directional terms like "downside" or "upside" and instead use terms like "price growth", "trend continuation", "price decay" to avoid confusion when referencing the inverted chart. "Support" still means supportive of price growth and "resistance" still means resistance against price growth. Running through a scenario with the inverted AVAX/USDT chart with new ATHs in a trend continuation as the eventual conclusion. Local structure supports trend continuation, within the context of an ongoing consolidation. This is one of many potential consolidation patterns, why did I scenario cast this and not a wedge or something of that sort? Markets tend to pick patterns they "like" and repeat them over and over (fractals). The previous consolidation from Sept-Oct 2021 formed something of a pennant, thus I outline how a similar scenario could play out within the bounds of the downward slide we have been in since August. Note the VBP zones formed since we began forming the recent consolidation: 86-93 (surrounding .786 fib), 104-110 (between .618 and .50 fibs), 114-120 (surrounding .382 fib). How could this go wrong? If price action were to decay to the point where it broke out of the slide and the 86-93 volume zone became resistance rather than support, that would be a signal of trend decay. Coupled with technical structure and BTC price action at that point, a breakdown of current trend structure signals a much more prolonged consolidation to come (and potentially, bear market).
Long
by Derivati-Capital
ITW finally ready to move higher?Note: I've mentioned this stock a couple of times before but both times it pulled back to an expected level due to the market conditions at the time. * Excellent earnings * Very strong up trend * High 3-month relative strength of 2.61 in the Industrial sector * Breaking out of a ~9 month base with higher than average volume * Tried to break out a couple of times before but failed due to market conditions at the time * Now breaking out again with higher than average volume * The recent price action did make a double bottom and the price has confirmed a break of the double bottom as well. Trade Idea: * Now's a great time to enter as the price is just breaking out and is close to the broken level * If you're looking for a better entry you can look for a buying opportunity near the $242.52 area
NYSE:ITWLong
by HaseebKhan_90
TWLO consolidationA pattern of higher lows and lower highs constitutes consolidation. I am looking for a break of the swing high or swing low to trigger a trade here. Given that the consolidation is so wide, we have a lot of room to work with. Trading above 285 will likely result in higher prices (thinking 315) while trading below 255 will result in lower prices (thinking 215). For riskier traders who dont want to wait for confirmation, I am long biased above 275 and short biased below 265. I recommend a 2:1 RRR for this trade.
NYSE:TWLO
by Decam9
3
MMC looking to make new highs!Note: I last spoke about MMC around mid October and since then it has consolidated and now it's showing signs of going higher. * Excellent earnings * Very strong up trend * Very high 3-mont relative strength of 6.87 in the Financial sector * Breaking out of a ~2 month base with higher than average volume * We can see that it tried to break above earlier but came back down due to the market volatility * It's also showing healthy signs for a continuation on the weekly chart Trade Idea: * If a little volatility doesn't bother you, now's a great time to enter as the price is still close to the broken level. * Moving forward, $171.13 should serve as support so if you're looking for a slight discount you can look for an entry around that area.
NYSE:MMCLong
by HaseebKhan_90
1
QCOM COnsolidationQCOM is currently consolidation in a triangle pattern. It has shown the 3 lower peaks pattern which consists of 3 lower highs and 2 lower lows. The pattern eventually breaks down much lower. This pattern can be seen at the top of an uptrend. Conversely, this pattern could set up to break higher. The current trend is up and we are bouncing off of the 20ma. On the short side, I could see a move down to $168. On a break higher, Im looking for $200. My bias is currently bearish but I will stay neutral until the consolidation breaks.
NASDAQ:QCOM
by Decam9
SOL Could Reach Just Above $700 This CycleSolana is printing extremely similar chart of what eth did in 2016-18. It looks almost the same, although i don't think sol will go that far in terms of percentages as eth did back then. Largely because of the current market cap and use case, where eth is practically a gas for other similar projects to be build on. As we don't have any historical data to be relaying on, it is still largely a guess where the price could reach. From what i've seen in 2017 lots of new coins went to the full fib. extension, which was extended over recent major correction and consolidation. For the fully extended fibs, 0.236 ext has to sit on top of the range and 0 on the bottom. Something similar did BitShares (BTS) in 2017 (will show in the update). I would expect more positive price action from Solana as it brakes above and find support on that rising trend line that we broke recently. I am not a financial advisor so non of this should be taken as a financial advise. BINANCE:SOLUSDT
by AVA37