The flow of sideway in a channel movement has been the bull trend analysis; in a nutshell, this has happened in the past few months, and it is looking to do it again with everything curling up and looking to race toward the top again after a brief breather. It could see a 10% or more move, especially if it passes the 350 area.
another week of powerful performance despite BTC being sideways.. we still had ups and downs and some sideways moments where volume was very less and no background color. it is simple, green Color Buy/Red color sell and no color sideways.
Technical Analysis 1. Price Pattern The chart shows a Rising Wedge pattern, which is typically a bearish continuation or reversal pattern. This formation is characterized by price movement within converging trendlines, indicating weakening upward momentum. In this context, the Rising Wedge suggests a potential downside breakout if the price fails to break above the upper resistance. 2. Key Levels Major Resistance: $103,620, a critical level that must be broken with significant volume to confirm a bullish continuation. Psychological Support: $100,000, which acts as a key holding level in the event of a downside breakout Fibonacci Retracement Levels: 23.6% at $94,930, serving as the first support target after a breakdown. 38.2% at $89,554, which may act as a stronger support if selling pressure increases. 3. Relative Strength Index (RSI) The RSI is at 65.11, nearing the overbought zone. This suggests a potential weakening of bullish momentum and increases the likelihood of a correction. 4. Volume and Confirmation No clear signs of significant breakout volume are present, favoring the likelihood of a bearish scenario. Forecast 1. Bearish Scenario (Dominant): If the price fails to break above the $103,620 resistance and breaches the lower support of the Rising Wedge, it could initially drop to the $100,000 level. Continued selling pressure may drive the price further down to the Fibonacci 23.6% level at $94,930. In a more extended decline, the Fibonacci 38.2% level at $89,554 becomes the next target. 2. Bullish Scenario (Alternative): If the price breaks above $103,620 with strong volume, it could signal a bullish continuation, with the first target near $107,000. In this scenario, a tight stop-loss is essential to protect against potential false breakouts. Trading Recommendations Confirm Breakout Direction: Wait for a confirmed breakout (up or down) before taking a position. Short Position Strategy: If the price breaks below the Rising Wedge support, consider a short position targeting $94,930, while setting a stop-loss above $103,620. Long Position Strategy: If the price breaks above $103,620 with strong volume, consider a long position targeting $107,000, with a stop-loss below the breakout point. Risk Management: Employ strict stop-loss levels at critical areas to minimize potential losses.
Hey Traders, in tomorrow's trading session we are monitoring GBPCHF for a buying opportunity around 1.12200 zone, GBPCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.12200 support and resistance area. Trade safe, Joe.
As you see this is a good classical pattern which targets 1177.00
ENERGY DEV CMP 34.57 buy at 32.2 and stop loss below 20 target 62, 75 ,100
With the rebalancing of NASDAQ, removal of NASDAQ:SMCI after it got a pump from it submitting financial reports to keep it from being delisted the big dogs realize this fraudulent company isn’t worth the risk, investment and headache. I expect below $30. Easily can be down 5% this week and that’s modest. Official date is December 23rd. I will be entering $30p for a swing. There was tons of buying at sub $20’s. There will be tons of selling here. How do people invest in a company who can’t report on time, falsify numbers, auditing team quits on them? Sometimes you don’t play the charts, you play the god damn news. Look at NYSE:UNH , look at my past post & chart. That thing got smoked. NASDAQ:MRNA is next. WALLSTREETLOSER
N wave with E, N, V & NT projection. The price is currently above the Kumo, indicating a bullish market sentiment. Tenkan-sen is above the Kijun-sen, reinforcing the bullish outlook. The Kumo itself is green, suggesting continuation of the upward momentum. Watch for price action near the upper edge of the cloud for potential breakout signals. Consider entering a long position near 0.915 (current price) or on a confirmed breakout above 0.930, which aligns with the projected resistance levels. Confirmation: Look for strong bullish candlestick patterns or a break above the Kumo with increased volume to validate the long entry. Set a stop-loss at 0.860, below recent swing lows, to manage risk in case the price moves against the position. Monitor wider market trends and any news that could affect the technology sector in Malaysia. Keep a close watch on volume; a surge in volume accompanying price increases would strengthen the bullish sentiment. Stay alert for any changes in the Kumo structure, as a shift to a thicker Kumo might indicate future volatility. Note: 1. Analysis for education purposes only. 2. Trade at your own risk.
NSE:NIFTY Nifty 50 Chart Analysis - Key Insights & Trading Plan Key Observations: Support and Resistance Levels: Support: 24,497 | 24,586.95 | 24,662.40 Resistance: 24,783.85 | 24,837.90 | 24,891.90 Price Movement: The price witnessed a downtrend followed by a strong recovery. A sharp upward movement has brought the price near 24,783.85, a significant resistance level. Current Position: The price is hesitating near the 24,783.85 resistance level, signaling a critical decision point. Trading Plan: Bullish Scenario: Breakout Above 24,783.85: Target: 24,837.90 → 24,891.90. Stop-Loss: Below 24,750. Bearish Scenario: Rejection at 24,783.85: Target: Support levels at 24,662.40 → 24,586.95. Stop-Loss: Above 24,800. Consolidation Strategy: Range-Bound Movement between 24,662.40 (support) and 24,783.85 (resistance): Buy near support, Sell near resistance. Summary: Breakout → Go long (buy). Rejection → Look for short opportunities. Watch for volume confirmation during breakouts or rejections to confirm strength. im not SEBI register.
Disclaimer: I trade ICT and use ICT terminology in my analysis. Nothing in the market is certain; this is what I would like to see price action playout this week. This is not financial advice. I see price making a draw on the previous week's buy-side liquidity. (Mon-Tue) From there, the price will sell off, making a draw for the weekly/daily fair value gaps executing an institutional order flow entry drill. (Tue-Wed) The price will spool higher from there, drawing toward early week highs.