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Fibonacci Extension

NZD/CHF Break downKeeping it as simple as possible with a clean chart and good explanation. Hope you will enjoy and profit. Looking at the weekly and daily time frames, the price is making lower lows and lower highs which indicates a downtrend market structure which is why I am only looking for short opportunities on this pair. After the 0.786 retracement price made a new low and came back to test the last lower low and was rejected. A possible new target for this pair is the 0.618 extension level which matches with the monthly S&R level which is around 0.5775. Also, see my 4-hour analysis of this pair for a more in-depth analysis.
Short
by alicanuz
26,567 Target UpdatedBTC reached a new low on the 4 hour, and rejected the 30MA on 4 hour. I can now understand why this has happened and why this is temporarily bullish for Bitcoin . I don't think we are dumping yet; here's why: A perfect fakeout would be to close the Weekly candle ABOVE the 200MA Weekly. This would be a HUGE BUY SIGNAL for retail buyers and many traders who don't think about what this actually means. They would just assume the bull run is back on. Literally everyone would be buying Bitcoin . Every Bear would switch Bull, and then, and ONLY THEN, does the dump begin. The liquidations would be HUGE. We currently close the Weekly on Sunday 24th. On the 25th (just like on the 25th July, 4 years ago) we reach the top - which on Kucoin would be 26,567. (Please refer to my 2 "Link to Related Ideas" to see how I measured this target originally. I have redone the extension with the new numbers to show you the updated target.) Funnily enough, if you look at my chart you can see that thick orange line above the 0.786 fib of 26,567. That thick orange line is the 200EMA Weekly. I expect this 200EMA Weekly to meet around this fib level by then, and THIS will be the REAL TOP. So around this time, the 25th would be a Monday. Now we all know that on Monday's, there are generally fake moves. So it would probably reach the top on Monday, pretend dump and then back up halfway to liquidate some late bears. Then it should start dumping around Wednesday 27th/Thursday 28th. The Monthly close would likely end up being a green Monthly candle with a wick. From then on, we descend towards 19k-18.5k before levelling out and going sideways in September.
INDEX:BTCUSDLong
by reiiss7
15
BTC$24,300 was tested which seems kinda shallow compared to the ETH move, That said this structure does sub divide nicely into 5 up and hit all fib extension measurements as far as EW is concerned. An ABC down would likely retest that triangle breakout. H4 SRSI & RSI show that the bulls can keep this thing going and run up to my original target around $25K B4 starting the ABC correction. Only time will tell. If the top is in and we have started pulling back into wave A as my chart shows then the push for wave B will pull the stoch RSI up quickly and make a lower high Vs my W5 top and confirm the analysis. Conversely breaking above with the RSI moving up slowly will cancel the A wave and mean we likely hit $25K.
COINBASE:BTCUSDLong
by Big_Mike716
4
[Bitcoin] If $21,654 support fails, consider bearish #Crack #Bitcoin #Binance #1D BTC finally broke out the $21,654 resistance, which is the 0.5 level of the Fibonacci trend extension, which has been a solid resistance since the formation of the low on June 18. With a strong bull trend, even the purple convergence top has been broken, and it is currently confirming support at $21,654. If the $21,654 support is successful, we can expect a further short-term rebound, but since there is resistance at the top of the pink bull trend channel, and furthermore, as there is resistance in the orange long-term trend line, it is difficult to view the bull trend that appeared the previous day as a bullish reversal of the long-term trend. There is also resistance at $22,580-$23,360, which was mentioned in the last briefing, so it is safe to watch whether the bull trend that emerged the previous day continues for the next 2-3 days. If the orange long-term trend line breaks out, I think it is worth taking an aggressive buy response. Until then, we recommend that you respond as conservatively as possible. If the bear trend continues further under the assumption that today's high is the high of the bear flag pattern, the expected support areas are $15,573-$15,508, $12,107-$10,909, and the overshooting level is confirmed at $8,184.72. - Summary Resistance section $22,580-$23,360 Important $24,190 Overshooting Level Support section $19,828-$19,118 Important $15,573-$15,508 $12,107-$10,909 Important $8,184.72 Overshooting Level
by Tommy_Trader
1
FTX FTT - The most bullish altcoin! Huge base + Elliott Wave FTT is one of the most bullish altcoins on the weekly timeframe, together with BNB! We have a clear very bullish structure (rectangle) and bulls successfully defended previous swing low. My Elliott wave analysis suggests that we have completed an ABC (ZigZag 5-3-5) correction and we can definitely go up from here! If we take a look at the volume indicator, we can see a very low bearish pressure, so it's really good to see. Out profit target can be 0.618 FIB extension from Wave 1 -> Wave 2, but this is just a projection for now. FTX exchange is growing really fast and there is a lot of demand for the token. Look at my ideas about interesting altcoins in the related section down below ↓ For more ideas please hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
17
BTC 4H chart - Wyckoff accumulation updateGood morning traders... Just a quick n update on my previous posts about the wyckoff accumulation... the price appears to be finding support around the previous resistance levels I suggested. Whilst most people will be looking at this as an abcde bear flag pattern which has been completed, I am taking a different view still. I have drawn on the trend lines for the bear flag pattern that most people will be seeing, but I have also combined the wyckoff accumulation with elliot waves and fibonacci extension levels to predict future price movements and future resistance / support levels for the new trend that follows a wyckoff accumulation. The bottom support level around $18.5k is a significant support level.... not just in this wyckoff accumulation, but it is also the weekly close price / resistance level from the 2017/2018 high which is now proving to be strong level of support. I'm melting in this UK Heat... all my fellow suffering Brits give me a shout 🥵🥵 Have a great day and good trading. DUB
BITSTAMP:BTCUSDLong
by GDuBFX
1
SOLANA LONG : accumulate hold & buy SOLANA (SOL) / USD We can analyze the daily situation of SOL: a) Upward exit of a descending channel b) Increasing local minima in the (orange box) where the current support is located c) The price extension has as its objectives 3 minimum target: 1)Average 100 to 1 day (yellow line) for the price of $ 55 --> ROI: +41% 2) Average 200 at 1 day (blue line) at a price of $ 76 where the final part of the local maxi resistance coincides (red box) --> ROI: +98% 3) $ 91.9 we find the last target which coincides with the Fibonacci extension 3.618 and with the highest part of the resistance (red box) --> ROI: +137% It is too early to say if we are facing an end to a bear market that has been in existence since November 2021, however the chances of seeing a rebound are high. For more information contact us privately. A cordial greeting from LPI.sa, grow with Us.
SLong
by LPI_Investments
Litecoin: Falling Wedge Break Hook and Go at an 88.6% RetraceLTCUSD has been sitting at a 88.6% Retrace for the last few weeks nowholding above both it and above a falling Wedge that it's developed on the weekly timeframe. If it can bounce back up from here i think it will have 3 profit targets: $420, $515, and Finally $645 as that would align with the 100%, 127.2% and 161.8% Fib Extension targets. My targets for this chart are a result of some other Bullish Variables on Various Other Charts i looked at where LTC is either the numerator or denominator, I have included some of these charts in the Related Ideas Tab below and based off all of these Aligned Variables across many different charts I'v come to the conclusion that i could be expecting alot out of the LTC Price Action in the Near Future.
COINBASE:LTCUSDLong
by RizeSenpai
1
[Bitcoin] 19K support is solid?? It's still too early to assume#Crack #Bitcoin #Binance #1D The support in the $19,828-$19,118 section, which was mentioned as very important in the previous briefing, succeeded, and it held the previous candlestick along with a buying trend, showing the possibility of a rebound. However, it can still be viewed as an extension of triangular convergence or an extension of a bull trend, and contains the possibility of continuing the bear trend. Since the short-term high has not yet been renewed, the expected support section is the same when the bear trend continues, but the expected resistance section has changed. As in the previous briefing, you can draw two rising channels. In the first case, a large bullish channel can be drawn, and in this case, the resistance near $22,175, where the center line of the bullish channel and the top of the convergence overlap which plays an important role. However, if the overshooting appears in the $23,240-$23,880 section and then the $22,175 section is supported, we can expect a short-term rise to the upper end of the channel. s3.tradingview.com In the second case, a small bull trend channel can be drawn. In this case, the resistance in the $22,580-$23,360 section, where the bull trend and the bull trend channel overlapped on June 13th, which plays an important role, The possibility of overshooting is shown until $24,190, where the long-term trend line and short-term Fibonacci level are located. Even in this case, if support is provided after breaking out the $22,580-$23,360 range, we can expect a short-term bull trend to the mid- to long-term Fibonacci level of $25,890. - Summary Support Section $19,828-$19,118 Important $15,508-$15,139 $12,107-$10,909 Important $7,750 overshooting level Resistance section Case 1 $22,175 Important $23,240-$23,880 Overshooting Level Resistance section Case 2 $22,580-$23,360 Important $24,190 Overshooting Level
by Tommy_Trader
2
Possible “Bottom” Targets Based on Elliott WaveBTC is currently correcting from an ATH of 69,000 in either an ABC zig-zag or a WXY combination wave and I've attempted to find possible bottom targets using Fibonacci clusters based on rules for both zig-zags and combo waves. Two ranges have appeared as a result of this study. First, is the range from 12,500 to 9800 and the second is a range from 4,500-3,400. A key level to watch is 10,800 which is the 1.618 of W where there could either be a bounce to the upside in a WXYXZ pattern or a continuation to the downside in an ABC. High Level Count: CME gaps within the ranges:
COINBASE:BTCUSD
by HelioHelix
[Bitcoin] Urgent!! 19K support is important!! #Crack #Bitcoin #Binance #1D Since the last briefing, the buying trend has not been continued, and it is showing a trend change by making Doge Candles and then falling. At this point, the blue medium-term bearish wave does not appear to have broken through the resistance of the 0.5 level Fibonacci trend extension, and it looks like Bitcoin will soon reach a critical support level. The important support interval appears to be around $19,828-$19,118, and this interval is located at the 0.786 level of the Fibonacci trend extension of the blue long-term bear trend wave, the 0.618 level of the Fibonacci trend extension of the blue medium-term bearish wave, and the bottom of the purple triplet convergence newly extended by the previous resistance. If it fails, once again, you need to prepare for further declines by the bear trend extension pattern. If the $19K support fails, we can expect support at $15,508-$15,139, where the blue medium term Fibonacci trend extension level of 0.786 and the purple short term Fibonacci trend extension level of 0.5 level overlap. However, one should keep in mind the turquoise long-term Fibonacci trend extension level 1 and the decline to the $12,107-$10,909 section, where the sub-trend extension levels are located. Additionally, if overshooting occurs below the $10,909 section, there is a possibility of a decline to $7,750, the 1st level of the purple short-term Fibonacci trend extension. Conversely, if the $19K support is successful, you can see several cases of successful retest support of yellow short-term convergence, successful bottom support of purple short-term convergence, and successful support of pink parallel channel bottom. If the $19K support is successful, we can expect a strong rebound in the near term. At this time, the expected resistance section is the section commonly mentioned in the last briefing. There are $24,189, which is an important resistance as long-term trend line resistance, and $25,890, a section that can be resisted when overshooting occurs. - summary $19,828-$19,118 support is very important Support section $15,508-$15,139 = Short-term support level $12,107-$10,909 = Critical long-term support level $7,750 = overshooting level Resistance section $24,189 = Critical long-term resistance level $258,90 = overshooting level
by Tommy_Trader
1