When will bullish trend of Solana end ?(Price and time analysis)Hello everyone, I hope you're all doing well.
It seems that SOL has completed five waves and is now likely to undergo a corrective wave of three. Negative divergence between waves 4 and 5 in RSI or MACD is often a sign of the end of wave 5.
Keep in mind that both FVGs have filled out the weekly important points.
I don't recommend taking positions, but if you intend to, remember to manage your capital and risk properly without forgetting about rewards.
(Because Solana is very Savage.)
Time analysis:
In the Solana dominance chart, two days are significant:
- Today, which we witnessed the decline, and the next day, Thursday, March 28th, where there's a possibility of significant media news within this time frame, such as the sale of assets by the FTX exchange.
- The last day is April 13th.
In summary, be cautious with your positions over these 25 days.
P.S : The SOL.D chart is for yesterday.
I suggest you thoroughly read the analyses linked below:
USDT.D
BTC.D
BTCUSDT
I'd be happy to share your opinion with me. Your likes, follows, and comments give me energy.
The RSI indicator also suggests a complete cycle.
After starting from a small uptrend channel, it's currently completing an Elliott Wave cycle.
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Gannanalysis
Might drop to support-1 Hour Chart in Downtrend First off the Total market cap 3 chart, BTC, and Solana is below there fob 50% Retracement level so that is not good on Jupiter or the altcoin market. Jupiter is in a downtrend on the Gann Swing chart with RSI negative, MACD touching negative, SAR trending down, Supertrend down, and the Aroon down. Only indicator that is up on the hourly is the DMI. Looking for the price to test the support and hopefully it doesn't close below it, just wick down.
GOLD, SHORTGold has been on an uptrend path since a new low was updated at 1812 (Friday, 6th October 2023. The bulls took over from 1812 until there was a break of structure when the price updated the LH from 2013 (11th January) to 2002 on Wednesday, 17th January 2024. The break of structure could mean that if gold price fails to retest the recent HL of 2061 on the Daily, then the recent LH of 2002 will be retested in an attempt to update that LH to possibly 1974.
Price is expected to retrace to at least 50% level in 2020 before a potential rise to retest the 2060 level but the price is expected to have a strong resistance at 2045-2048 level. However, the fundamentals lining up for the week (Flash Manufacturing PMI, advance GDP m/m, unemployment claims, Core PCE price index m/m would actually determine the direction of the gold pricing and it is necessary to keep an eagle eye on the event proceedings.
A failure to break up the 2045-2048 resistance could mean the SELLERS may drive down the GOLD Price to 2002 and further plundering down to 1974 to confirm a new low update.
Notes on BTC Market Oct'23Over the past few months, CRYPTOCAP:BTC seems to find a pivot at 20% extensions of the up/down movement. To find sup/res points, what one can try is: take the last significant low/high and draw a rising/declining line at a rate of 12.5 USD per trading day from the chosen high/low.
The current example is highlighted on the chart; an info line is provided for easier reference.
The given dynamic support area is likely to have some maker bid volume, which usually translates into stop loss volume hurdles, effectively providing setups in both directions depending on which side overwhelms the market at these points of exchange.
Keep your eyes on the prize, manage your risk appetite and stay tuned
DXY, Ready to ShortThe last week DXY movement fulfilled my idea which I predicted price to hit the key level at 105.8
For the past 13 -14 weeks, the DXY has been on an ascending trend from 99.23 to 105.756. The current resistance has been a key level since 1st December 2022.
Price is currently reacting on a resistance trendline of the main ascending channel since 26th September 2022.
The resistance trendline coincides with the 105.834 key resistance which has historically driven the DXY down.
The DXY could initiate a BEARISH WAVE first to 103.100 to retest the Daily EMA-200 & 50.
The FED could consider a rate hike in the last quarter of 2023 in the midst of a possible DXY bearish waves.
Local Bitcoin time-analysisLocal Bitcoin View based on time analysis and price structure.
Based on the analysis of time, the main local (daily) pivot points on Bitcoin are:
Daily pivot Points: August 28 (08/28/2023) - today; September 6 (09/06/2023)
The local structure of Bitcoin is shaky, but it's not that bad. Today, the 28th of August is a very important day because it contains the daily pivot point. The next daily pivot point will be on September 6th. Given the presence of a reversal point today, it is important to watch a daily close very carefully.
Local Bitcoin Forecast: I believe the most expected move is to see the final short squeeze on Bitcoin before we are taken into a longer correction. However, given the presence of a daily pivot point today, there is no need to rush with longs, we are waiting for the daily close! It may turn out that today we will close the day with a sale which means we might get squeezed down to support before the next daily pivot point (September 6).
Opening Position:
Long: $24,800-$25,500 . Open in several limit orders!
Stop loss: $24,400
Bitcoin local targets:
Target 1: The minimum target for a short squeeze is the lower retest of the $28,300-$30,300 zone. 28K+- remains a zone about which there is distribution or accumulation!
Target 2: $32,800-$33,300. The bull structure is still not broken and the probability that the current markdown is a manipulation remains significant. I remind you from the previous analysis that we have a Weekly Swing Point on October 16 (16.10) until Bitcoin can easily make new highs.
Trade Plan:
(1) in the zone of $28,000-$29,000 we fix a part of the accumulated position!
(2) Stops are moved to breakeven!
(3) If after we squeeze into the zone, there will be consolidation for a couple of days - close the rest of the position!
(4) If we get above the zone and consolidate, we expect the second target: 32.8-33.3K!
X8 Crypto
Mastering Gold Trading: Precise Timing Introduction:
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NIFTY GANN AnalysisThe current trend is the resumption of down trend from 18887 on dec 1, 2022. This trend will continue till it reaches .236 levels (16210) of retracement ( from 7511-18887). Moreover this ongoing downtrend will be steep, consuming almost lesser time frames before the new uptrend emerges.
References:
1. wiz - leadbrains blog
How To : Using Gann 90 Degree Angles For Future TrendsAnyone can use Gann’s theory in any market. All you need to do is wait until the top and bottom values start to appear on the charts. As soon as these trends change, you will be able to draw an angle, which is the geometric or Gann’s angle. The market is assumed to be strong when the value of the currency pair is above the ascending angle and the trend in the market is up. Similarly, the market is weak when the currency pair price goes below the descending angle and the trend for the same is also down.
How To Think & Trade Opposite Of The 97% With this tool and the future predictive Gann 50% levels backwards, it is one of the most valuable ways I have developed of thinking. The tools aren't so important. To succeed, you must learn to think differently from everyone else in the world.
The best loser wins.
Once the once loser has rewired their neuro network to act in the opposite direction from their primitive cerebal cortex, they become the 3% that succeeds sustainably.
For this example I used BTC on the 4-hour.
Check this orange marker! Intraday Turning Point ForecastSo, I've tried Gann's method to predict intraday reversal prediction.
This method introduced by notoriously famous market trader and forecaster W.D. Gann,
he sold the course for $5000 in a book called "The Gann Master Commodities Course" written by he himself
but now you can easily find the PDF on the internet
He did an accurate, Year/Month/Day/Hour/Minute of 1929 financial depression.
That's made me interested in his technique, so i tried this one.
The first calculation was success, i shorted GOLD at 1847 with SL @ 1853
Now, lets see if this working just like the first one.
All in GMT+7 timezone, so if you want to follow me please make sure to change the timezone first
I did set the TP @ 1817 as it was the current fibonacci retracement,
if it's not reaching that point i will manually close the position due to major bullish trend
Cheers, H. Haidar
HAPPY NEW YEAR FOR EVERYONE WHO SAW THIS
S&P500 Going down another 40% - Market Bottom in May 2023In conjunction with my previous Dow Jones analysis (Link to it down below), we foresee another 40% drop in S&P500 until mid-2023.
The analysis done on these charts is based on old repeated market cycles that were last seen during the market crash of 2008.
As you can see clearly on the charts, the market has been playing the exact scenario of 2008, since March of 2022!
It's fascinating how similar markets are working their way, and people don't seem to notice at all...
There is a verse of the bible that W.D.Gann used a lot in his books which says: "What has been will be again, what has been done will be done again; there is nothing new under the sun." Always keep this in mind when you are reading the market.