Eli Lilly is neutral on its 1D technical outlook (RSI = 48.409, MACD = -5.160, ADX = 28.927) and this is technically the most efficient level to buy for the long term towards the end of the year, as the price is sitting around its 1W MA50. The macro pattern is a Channel Up starting back in March 2019 and every time this broke under the 1W MA50 (but remained supported above the 1W MA100) and consolidated, it was the most efficient long term buy signal. In 6 years this has only happened 4 times and all those times the 1W RSI hit the 38.750 S1 level. The immediate target of all bullish waves that started after such bottoms, has been the 2.0 Fibonacci extension. Go long, TP = 1,300. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CME_MINI:ES1! swept its avg sweep area, pushed through daily open and retraced to it. I'm anticipating a move towards Daily Avg Expansion Area towards the end of the day targeting $5,665. Closure above 1h FVG would invalidate this idea.
The downtrend continues, but we’re seeing signs of a potential bounce! ? RSI at 32.15 approaching oversold levels! Price hitting the bottom trendline of the descending channel. Possible reversal to $2.20 Could this be the breakout we've been waiting for? ?
? Current Market Overview Current Price: ~$97,000 - $98,000 Market Trend: Strong bullish momentum, testing new all-time highs. Key Fundamental Catalysts: - Bitcoin Halving in April 2024 - Institutional Adoption & ETF Inflows - Macroeconomic Factors (Interest Rates & Liquidity Shifts) 1. Key Technical Analysis Trend & Market Structure BTC is moving in a long-term ascending channel with strong support and resistance zones. Currently consolidating near $100K, indicating a setup for the next breakout. The Bitcoin halving event in April 2024 could drive a major rally, similar to previous cycles. ? Resistance Levels (Upside Targets) $100K - $110K → Immediate psychological resistance $120K - $130K → Next target after a breakout $150K - $180K → Potential post-halving surge target ? Support Levels (Downside Risk) GETTEX:92K - $95K → Short-term correction support $85K - FWB:88K → Strong demand zone $74K - $76K → Key long-term support if a deeper pullback occurs 2. Technical Indicators Relative Strength Index (RSI) Currently above 70, indicating BTC is in overbought territory. A short-term cooldown or correction could be expected before further upside. Moving Average Convergence Divergence (MACD) Strong bullish crossover on the weekly and monthly timeframes. MACD histogram expanding, confirming ongoing bullish momentum. Momentum (SQZMOM, Histogram) The green histogram bars are increasing, indicating continued strength. A slowdown in histogram growth could signal consolidation before another leg up. 3. BTC/USD Forecast for the Next 180 Days Scenario 1: Bullish Continuation (70% Probability) ? Target: $130K - $150K BTC consolidates around $100K before another breakout. After the halving in April 2024, BTC could rally to $130K - $150K as supply decreases. If strong ETF inflows continue, BTC could push toward $180K by mid-2024. Scenario 2: Pre-Halving Correction Before Rally (25% Probability) ? Target: $85K - $95K (Pullback) Before Rallying to $130K+ BTC faces resistance at $100K, leading to a healthy correction back to $90K - $95K. Once BTC finds support, the next parabolic run-up could push BTC to $130K - $150K post-halving. Scenario 3: Bearish Reversal (5% Probability - Unlikely) ⚠️ Target: $74K - $85K A major macroeconomic shock (e.g., ETF outflows, US recession, regulatory crackdown) could lead BTC to test $74K - $85K. This scenario is less likely due to strong institutional demand and the halving cycle. 4. Fundamental Catalysts Supporting Bullish Price Action ✅ Bitcoin Halving (April 2024) BTC halving historically triggers a supply shock, leading to major price increases 6-12 months later. Based on past halving cycles, BTC could hit $130K - $180K in Q3-Q4 2024. ✅ Bitcoin ETFs & Institutional Demand BlackRock, Fidelity, and Grayscale ETFs continue to drive record inflows. Increased adoption by institutional investors could accelerate BTC's price appreciation. ✅ Macroeconomic Factors If Federal Reserve cuts interest rates in 2024, more liquidity will flow into BTC and risk assets. A weaker USD could further support BTC’s role as a hedge asset. 5. Trading & Investment Strategy ✅ For Bullish Continuation Strategy: Buy dips near $90K - $95K if BTC corrects. Profit Targets: Target 1: $110K Target 2: $130K Target 3: $150K+ (if post-halving rally extends) Stop Loss: Below $85K to minimize risk. ✅ For Short-Term Traders: Look for RSI dips below 60 on daily charts before entering long positions. Use MACD crossovers to confirm trend continuation. 6. Conclusion & Final Forecast BTC/USD Likely Target in 180 Days: $130K - $150K. Short-Term Correction Possible: BTC may retest GETTEX:92K - $95K before another rally. Bearish Case (Low Probability): If BTC loses momentum, it could drop to $74K before recovering. ? Final Outlook: BTC is on track for $130K - $150K within 6 months, with $180K+ possible post-halving if momentum continues. A short-term pullback before the next leg up is likely but should be viewed as a buying opportunity rather than a bearish reversal.
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Today's gold focus: 3040-3045 The following is a brief summary: Support and resistance analysis: Short-term support: 3030-3035 Short-term pressure: 3040-3045 Operation strategy: Long-term thinking: Entry point: 3025-----3015 Stop loss: 3010 Target: 3035-3040. If the price breaks through this range, you can continue to hold and wait for higher returns. Short-selling ideas: Entry point: 3065-----3075 Stop loss: 3085 Target: 3050----3040. If the price breaks through this range, you can continue to hold and wait for a higher price-earnings ratio.
Buddy'S dear friend SMC Trading Signals Update ??️ Euro USD Traders SMC-Trading Point update you on New technical analysis setup for Euro USD ) Euro USD Technical patterns support level pullback up trend ?? 1.08254 strong ? support level target ? point Resistance level 1.09580 good luck ?? Key Resistance level 1.09580 Key Support 1.08254 Mr SMC Trading point Palee support boost ? analysis follow)
Some people are looking for an Alt Season considering that Dominance is below resistance, but that's how I see the market! What do you think?
The market is in a correction phase so I believe once its done correcting it will go into a continuation phase and held down. But lets see
Looking at this bear, we realize on the 4H we are bearish due to structure. We took out Liquidity and also We had an impulse up with displacement telling me we want to go higher.