Lingrid | SOLUSDT long from the DEMAND areaBINANCE:SOLUSDT price has entered a consolidation phase after a significant bullish move, oscillating between 160.00 and 120.00. Given the classic trading strategy of buying at the bottom and selling at the top of the pattern, it's logical to anticipate a buy opportunity at the lower end of this range. Notably, the market has already reacted to the key support level at 120.00, with multiple rejection candles forming as it bounces off this level. I expect the price to retest this key level again before potentially moving upwards by taking liquidity below the equal lows. My target is resistance zone around 157.40
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Bitcoin's Potential Double Top: A Critical Technical AnalysisBitcoin has been experiencing notable volatility in recent months. On a weekly timeframe, technical analysis reveals a concerning double top pattern, which could indicate a significant retracement is on the horizon. This article delves into the implications of this pattern, the potential retracement levels, and the broader market factors influencing Bitcoin's price movements.
Double Top Pattern and Implications:
The double top is a bearish reversal pattern that typically signifies a potential downtrend following an uptrend. In Bitcoin's case, the first peak was around $73,000, followed by a recent high that failed to break through this level, forming the second top. The formation of this pattern suggests that Bitcoin might struggle to maintain its current levels and could face a significant decline.
Key Support Levels and Fibonacci Retracement:
Given the double top pattern, Bitcoin might retrace to its 50-day moving average, which aligns closely with the $47,000 support level. This level also corresponds to the 0.5 - 0.618 Fibonacci retracement, a critical area often considered a strong support in technical analysis. The confluence of these indicators suggests that $47,000 could serve as a robust floor for Bitcoin if the bearish pattern plays out.
Market Catalysts: Mt. Gox and German Bitcoin Sales:
The recent selloff from the $73,000 peak can be attributed to two significant market events. First, the Mt. Gox exchange has started repaying its creditors, many of whom are expected to liquidate their holdings for a profit. Mt. Gox has reportedly moved about 47,000 BTC for sale this month, flooding the market with additional supply.
Second, Germany has moved approximately 6,000 BTC for sale, further exacerbating the selling pressure. These large-scale sales have undoubtedly influenced Bitcoin's recent price decline, contributing to the bearish sentiment currently prevailing in the market.
Long-term Outlook: Bitcoin's Potential for Recovery:
Despite the short-term bearish indicators, the long-term outlook for Bitcoin remains optimistic among many analysts. The fundamental factors driving Bitcoin's value—such as increasing institutional adoption, limited supply, and growing recognition as a hedge against inflation—suggest that the cryptocurrency could recover and reach new heights.
By the end of the year, there is a plausible scenario where Bitcoin could surge to $80,000. This bullish projection hinges on several factors, including a stabilization of the current selloff, renewed investor confidence, and continued positive developments in the broader cryptocurrency ecosystem.
AXLUSDT(Axelar) Daily tf Range Updated till 07-07-24AXLUSDT(Axelar) Daily timeframe range. its on price discovery level. below 0.4968 got pretty much unknown space to move. thats actually not a good part devs should have done something with their sell money. of course it can reverse recent resistance at 0.7270.
STMXUSDT(StormX) Daily tf Range Updated till 06-07-24STMXUSDT(StormX) Daily timeframe range. its defending 0.004224 for a while now. its actually optimal to stay above this line, below this is lower range with baggage zone. many things had its dump the range levels are big so it got space to move around.
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Alikze »» ETH | Rising waveIn the weekly time, it is moving in an ascending channel, which after a complex correction and higher floors has formed a runner zone, which can now complete an ascending wave in the specified area, which is the supply area. Therefore,
🔰 in the first scenario, I expect a correction with the support of the $2,500 area after touching the zone, which can appear more in the form of price, considering that the recent correction was a running zone, and then enter the upward phase.
🔰But the second scenario can break this wave of the region and continue the upward path after the pullback.
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Lingrid | GOLD correction followed by EXTENSIONThe price perfectly fulfilled my last idea. It hit the TP. OANDA:XAUUSD is currently testing the critical level of 2350. The market has already broken out of the range zone that was part of an inverse head and shoulders pattern. Given that the market has closed above the strong support at 2330, I believe it may retest the midpoint of the range zone, which aligns with the neckline of the H&S pattern. However, there is still a possibility that the price could drop to a lower level, as it has already completed a test of the top of the triangle formation I mentioned yesterday. In any case, I'm looking for the price to test the support level and bounce back, which would provide a buy confirmation. My target is the resistance zone around 2379.
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Lingrid | EURUSD breakout and RETEST PatternThe price perfectly fulfilled my previous idea. It hit the target zone. After the recent news, the EURUSD is now making its way towards the next resistance zone. As we can see, the market is currently ranging around the key level of 1.08000, which suggests that if it breaks through this level, it may continue to rise. The price has gained bullish momentum, and with this momentum, I'm expecting a breakout retest scenario to play out. In other words, I think the price might retset the support at 1.07700 before continuing its upward movement. My target is the resistance level at 1.08315
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Lingrid | ETHUSDT buying OPPORTUNITY at the BOTTOM of the RANGEBINANCE:ETHUSDT has been trading within a big range on the daily chart, oscillating between 2800 and 4000. The market has recently dipped to the lower boundary of the range and it is heading towards the channel's border. A box has formed on the left side, and I believe the market may break below this box to absorb liquidity and potentially stage a rally towards the top of the range zone. I'm expecting a test of the trendline and channel followed by a bullish move if the price makes fake breakout. My goal is a resistance zone around 3365.00
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CHRUSDT(Chromia) Daily tf Range Updated till 05-07-24CHRUSDT(Chromia) Daily timeframe range. market is on dumping mode so nothing out of ordinary here. breaking 0.2097 clean can lead it to 0.1545. of course that needs a valid daily close. a buyback or retrace more possible in lower mid level after market stables.
ZENUSDT(Horizen) Daily tf Range Updated till 04-07-24ZENUSDT(Horizen) Daily timeframe range. holding well even tho we had tough day today in market. now staying above 7.55 will eventually lead it to 9.72. but 7.55 needs hold for that, thats also a retrace point. if 7.55 cant hold it got chances to back to 6.31.
Alikze »» PEOPLE |Corrective structure in ascending channel🔍 Technical analysis: Corrective structure in ascending channel
- It is moving in an ascending channel in the daily time frame.
- At present, the supply area is faced with sales pressure.
- According to the downward momentum, it can have a pullback with a broken structure.
💎Possible scenario: Therefore, any attempt to the supply zone, if it does not break it upwards, can continue the downward path and touch the 0.04880 range first.
💎 Alternative scenario: In addition, if the region breaks the supply, it can grow to the next region.
🛑 Resistance range: 0.10986 - 0.12207
🟩 Support range: 0.03662 - 0.04272
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Alikze »» LISTA | Short -running channel🔍 Technical analysis: Short -running channel
- The time frame 1H is moving in an uptrend channel.
- Currently on the floor of the canal. If it is in demand for 0.6840, it can have 0.78 targets and the mid -channel supply range.
💎 Replacement scenario: But if the floor of the short upward channel is broken, the first green box targets can be 0.5860 and the second color box with brick and stabilization below the area.
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Congrats Traders! GBPCHF Alert Pushing 200 Pips!🎉 Congrats Traders! GBPCHF Alert Pushing 200 Pips – Let's Ride to 1.16736! 🚀
Congratulations to all the traders who caught my alert on GBPCHF! We're now pushing an impressive 200 pips, and we're still in the trade. In this video, I'll guide you on how to manage this winning position using Darvas Box with my custom settings to determine the optimal exit point.
We'll cover:
Current progress and market conditions for GBPCHF
How to use Darvas Box to identify pullback and exit points
My analysis and why I expect this trade to hit the target of 1.16736
Risk management strategies to protect your gains
Join me as we navigate this exciting trade and aim for the ultimate target. Don't forget to like, comment, and subscribe for more trading alerts and expert analysis. Let's capture those final pips together! 🚀💹
Alikze »» OP | Pullback to the roof of the major is brokenIn the daily and weekly time, it is moving in an ascending channel, where three-wave movements are evident inside the channel. At present, with the failure of the major ceiling, it can continue its upward path by completing the pullback to the specified limits and the ceiling of the ascending channel. In the last part of this movement, it can be completed with another short correction and enter the continuation of its upward wave to the areas of divergence. But if it cannot maintain the range of the ceiling, it will have the possibility of correction to the bottom of the ascending channel.
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Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Lingrid | EURUSD broke through the CONSOLIDATION zone. LONGEURUSD is gaining bullish momentum, having broken out of a significant consolidation zone and also breaking through the downward trendline. Additionally, the market has managed to close above the crucial 1.07400 level, which has been tested multiple times before. Today's high-impact news has the potential to alter the market's direction in any way. However, I anticipate a short-term correction to the support level before resuming its upward trajectory. This correction will likely be followed by an upward movement if the price rejects the support level. My target is the around resistance zone at 1.08000.
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Lingrid | AVAXUSDT long from SUPPORT levelThe price perfectly fulfilled my previous idea. It hit the target level. BINANCE:AVAXUSDT has pulled back towards the support level after being rejected at the resistance zone around 30. On the daily chart, we can see that the market has reached a demand zone, which suggests that the price may be poised for a potential reversal. Additionally, we can see that price action is forming an inverse head and shoulder pattern. Given this setup, I expect the price to potentially drop slightly before bouncing back up to the channel border. My expectation is that the price will retest the midpoint of this range zone before resuming the bullish momentum. My goal is the resistance zone around 30.
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Lingrid | GOLD Weekly Price Action. What Can We Expect in July?OANDA:XAUUSD prices initially dipped but then rebounded, with attention focused on the 2,300 level. Short-term pullbacks are likely to attract buyers, potentially pushing prices to 2,400 or even 2,450. The month of June came to a close with a doji candle, which often signals uncertainty in the market. As we look at the larger picture, gold's price remains trapped within the range of the massive bearish candle that formed earlier in June. To establish a clear trend, I believe we need to see a break above or below the boundaries of this monthly candle. When we examine the daily chart, we can see that the price is being heavily squeezed, a condition that will eventually lead to a more impulsive movement.
Looking ahead to July, we can expect a significant move if the price breaks out of its current consolidation zone. If it rises above the 2,350 level, there is a high probability that it will retest the top of the range at around 2,400. Conversely, if it breaks below the support level, we can anticipate a more substantial decline, potentially all the way down to the 2,250 level.
Overall, I expect consolidation to continue with a slight bullish sentiment because central banks' efforts to hoard gold and recent geopolitical risks are supporting prices, while the low interest rate environment in the US also favors gold. With summer volatility typically lower, it's likely that gold will continue to consolidate.
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Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.