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Harmonic Patterns

How far is Bitcoin from landing on the moon? After reaching a new ATH at 108k, Bitcoin experienced a significant drop following Jerome Powell's speech that the Fed cannot hold Bitcoin and is not seeking to change that, which seems to have caused some uncertainty in the market. As a result, BTC price saw a steep decline, but it recently rebounded, almost touching the 100k level again. The current focus for Bitcoin is a critical support area at around 91k. This area has held up well in recent price action, and we saw a recovery bounce from this region again. There is a strong chance that BTC could revisit this support area in the coming days, and it could provide another opportunity for a potential rebound. This support area is essential because it represents a significant price range where buyers have stepped in to defend the uptrend. If Bitcoin does test this zone again and holds above 91k, the probability of a further upward move remains high. In addition to the immediate price action, there’s a key factor to consider: the monthly candle close. Bitcoin needs to close the current monthly candle above 96k for the market to maintain its bullish sentiment. A green monthly close at this level would provide strong confirmation that the overall trend remains intact and that BTC is on track for further price appreciation. The next few days are critical for determining whether BTC can sustain momentum to close the month in the green. If Bitcoin can hold above 96k by the end of the month, it would signal that the upward trend is still in play and that a continuation toward higher levels could be on the horizon. Looking ahead to next week, there are two possible scenarios: 1. Continued Support Test: Bitcoin may dip back towards the 91k support area. If this area holds strong, it could set up another bullish reversal, targeting a move back toward the 100k area or even beyond. 2. Break Below Support: If Bitcoin fails to maintain support in the 91k area, we could see further downside, potentially testing lower levels. In this case, caution is warranted, as the next major support zone would be considerably lower. Conclusion The next week could be crucial for Bitcoin’s price action. A monthly candle close above 96k would reinforce the bullish outlook, but if Bitcoin fails to hold support or closes the month in red, we may see more volatility in the near
by Sarim-Trader
2
XAUUSD-Analyzing the Next Big DropChart Analysis: Current Market Price: As of the latest observation, the market price for Gold (XAUUSD) stands at approximately $2,623.61 per ounce. Recent Price Dynamics: Trend Observation: The chart depicts a pronounced bullish trend characterized by consecutive green candles, indicating a sustained increase in prices. Volatility Assessment: There is observable deceleration in market volatility, evident from the progressively smaller candle bodies and reduced range between highs and lows. Technical Indicators and Annotations: Break of Structure (BOS): Identified on the chart, this term typically denotes a significant level where the price action has breached previous support or resistance, suggesting a potential shift in market dynamics. Order Block (OB): Highlighted as a crucial zone, likely where substantial institutional orders have been historically placed, acting as pivotal resistance or support in subsequent price movements. Projected Price Path: The inclusion of a blue directional arrow forecasts a potential upcoming price movement, hypothesizing an ascent to a designated upper level followed by a sharp decline. This anticipated trajectory points towards the 'OB' zone as a potential upper resistance boundary. Temporal Context: The horizontal timeline marks forthcoming dates, extending predictions slightly beyond the screenshot’s timestamp, providing a short-term outlook up to December 25. Strategic Implications: Resistance Consideration: The identified 'OB' zone is anticipated to serve as a major resistance area. Reaching this level could significantly influence market behavior, potentially triggering substantial sell-offs. Anticipated Reversal: The projected upward movement towards the 'OB' zone, followed by a marked decline, suggests a strategic anticipation of a price reversal, which could offer critical entry and exit points for traders. Trading Strategy Formulation: Aligning with these insights, traders might consider adopting a long position as prices approach the resistance, with preparations to pivot to short positions should reversal signals manifest. Analytical Considerations: Validation through Confirmation: Traders are advised to seek corroborative evidence from additional technical indicators or chart patterns to reinforce decisions based on the projected path and identified zones.
OANDA:XAUUSDShort
by Sarim-Trader
USDCHF let's wait for longs guys The dollar headed for its best weekly performance in a month on Friday, as investors priced in the possibility of the Federal Reserve cutting rates more slowly next year, while sterling fell after a surprise contraction in UK economic activity. The U.S. currency held firm against the euro and Swiss franc following rate cuts by those central banks a day earlier, and rose against the yen after reports that the Bank of Japan could forgo a rate hike at its meeting next week. The dollar index, which measures the currency against six others, was flat at 106.94, but still set for a weekly gain of nearly 1%, its biggest in a month.
by admiretira
The last bullish chance of SOLANA !!The price has broken the cup and handle pattern and has also completed its pullback. Now is the time for the price to rise. Give me some energy !! ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
4
Bitcoin Analysis: Potential Bullish BreakoutThe BTC/USD 1-hour chart highlights a key resistance zone (shaded in pink) around the 97,000 level. The price is currently consolidating near this zone, with a potential scenario for a breakout towards the target of 101,000. Key Observations: 1. Resistance Zone: The 97,000–98,000 level has been a significant area of interaction, acting as resistance. 2. Potential Pullback: A short-term dip toward 96,000 could occur before a bullish breakout. 3. Upside Target: If the price sustains a breakout above 98,000, it may aim for the target at 101,000. Trading Plan: Consider buying on a confirmed breakout above the resistance zone with a target of 101,000.
BITSTAMP:BTCUSD
by LunaTrader_SingnalsProvider
When is the BTC correction over?When is the FIRST real bullrun correction over? I compared it with the CRYPTOCAP:BTC ‘20 & ‘21 bullrun. After breaking the ATH in 2020 #Bitcoin had a parabolic move of 39 days. After making a local top at 40K it corrected with 30% and after 31 days Bitcoin broke the old ATH. So 41 days after breaking ATH the first correction is here. Don’t be surprised if CRYPTOCAP:BTC tends to go a another leg down like in 2020. To keep the bullrun intact Bitcoin should not go lower then the 50 TEMA. So if history repeats #Bitcoin should make a new ATH mid Jan. next year. IMO i don’t believe CRYPTOCAP:BTC will correct 30% from the top. With all institutional interest and #ETF’s is highly unlikely. BINANCE:BTCUSDT BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:BTCUSDT.P BINANCE:ETHUSDT INDEX:BTCUSD BITSTAMP:BTCUSD BITFINEX:BTCUSD KRAKEN:BTCUSD
BITFINEX:BTCUSD
by KennyCryptoNL
BTCUSDT On The way to 120KBTCUSDT, Bitcoin-based cryptocurrency, is currently trading at $97,000. The target price for BTCUSDT is $120,000, indicating significant growth potential. This represents a potential gain of over 30%. The coin's price movement is guided by a support and resistance pattern. BTCUSDT's growth potential is significant, driven by increasing adoption and demand. Investors can capitalize on this opportunity for substantial returns. However, market volatility and risks should be carefully considered. A well-informed investment decision can help maximize gains and minimize losses. By monitoring market trends, investors can make informed decisions about BTCUSDT.
Long
by CryptoWithJames
PNUTUSDT → A Double Bottom Formation: On the Verge of a Bullish PNUTUSDT → A Promising Reversal Ahead: Poised for 30-50% Growth in the Near Future PNUTUSDT is setting itself up for a potentially significant rebound, with the possibility of a 30-50% growth in the coming weeks. After experiencing a sharp and substantial drop (often referred to as a "dump"), the asset is now showing signs of a reversal, forming a bullish pattern on the chart. This price movement suggests that the market could be nearing a turning point, where the downward trend may soon give way to an upward rally. While Bitcoin remains largely range-bound and stagnant in its price action, PNUTUSDT is demonstrating strength and resilience by forming a classic double bottom pattern. This pattern is known to indicate a shift in market sentiment from bearish to bullish, often signifying that a trend reversal is in the works. The double bottom formation is typically seen as a sign that the asset has found solid support and is now preparing for a potential surge in price, making this an exciting opportunity for traders and investors alike. At present, one of the primary hurdles for PNUT is the resistance level around the 0.75 mark. This price point has historically acted as a significant level of resistance, and the coin will need to break through it decisively to trigger a meaningful rally. If the price can push past this 0.75 resistance and establish a solid foothold above this level, the next logical price target will be 1.0. This would mark a key psychological and technical level, which could pave the way for further gains in the short to medium term. It’s important to keep a close eye on the support and resistance levels as the price action unfolds. For now, the critical support level for PNUT stands at 0.6. This zone represents a key price area where the bulls need to maintain strong defense to prevent a breakdown and potential further downside. If the coin can hold above 0.6 and rally past the 0.75 resistance, it will signal that the bulls are in control, with higher price targets on the horizon. Resistance Levels: 0.75: This level acts as a strong resistance, which, if broken, could trigger the start of a substantial upward movement. It’s a key threshold that traders should watch closely. A breakout above 0.75 would likely mark the beginning of a more significant rally. 1.0: Once the 0.75 resistance is overcome, the 1.0 level will be the next major target. This psychological and technical barrier could prove to be another important test for the bulls. If the price can break past this level, PNUT could be poised for even greater gains. Support Levels: 0.6: This is a crucial support level that should not be overlooked. For PNUT to remain bullish and continue its rally, it’s vital that the price holds above this level. A drop below 0.6 would raise concerns and could potentially reverse the bullish momentum. If the bulls can successfully overcome the 0.75 resistance and hold the price above it, the market could see a significant upward push in the coming weeks. The primary target, once 0.75 is breached, would be the 1.0 level, which would mark a substantial psychological milestone. From there, if the momentum remains strong, the next set of targets could be at 1.15 and 1.35, both of which are seen as potential resistance levels in the medium-term price action. Why This is an Important Setup: What makes this setup particularly intriguing is that it aligns with a strong reversal pattern, supported by technical indicators such as the double bottom. Historically, such formations often lead to significant price rallies, as they suggest that the bears are losing control and the bulls are preparing to take over. This creates a perfect environment for a potentially profitable trade, with considerable upside potential for those who are able to time their entries and exits effectively. Investors should monitor how the price behaves around the 0.75 resistance. A failure to break above this level would suggest that the bears are still in control, and the rally may stall. On the other hand, a clean break and close above 0.75 would signal a clear bullish trend, with 1.0 as the next major target. The Bigger Picture: Looking further ahead, the overall market conditions should also be considered. While Bitcoin is not showing much movement at the moment, the altcoin market is still ripe with opportunities, especially for coins like PNUT that are setting up for a reversal. The key here is timing and watching for confirmation of the bullish trend before entering a position. For traders with a medium to long-term outlook, PNUT’s setup could present an attractive risk-to-reward opportunity. If the price breaks through resistance and establishes solid support above 0.75, the next targets of 1.15 and 1.35 would become increasingly realistic. In conclusion, PNUTUSDT is showing significant potential for a strong recovery. After a sharp fall, it is now forming a double bottom pattern, which typically signals a reversal in the market. If the price can break through critical resistance levels at 0.75 and 1.0, PNUT could be on the verge of a strong bullish rally, potentially reaching new highs in the short to medium term. Investors should monitor the key support and resistance levels closely, as overcoming the 0.75 resistance could signal a powerful upward move. The primary target remains at 1.0, with subsequent targets of 1.15 and 1.35 offering additional upside potential.
Long
by lonelyPlayer0