https://www.tradingview.com/x/o1SAytuB/ Here is our detailed technical review for EURUSD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 1.019. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.028 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
GBPCHF is on its all time low on monthly time frame .it is flying up with style making a series of highs and lows on smaller time frames .It has made the second touch of bullish trend on weekly time frame. It is bearish on daily time frame, approaching the third touch of the weekly time frame bull trend. Sitting on a daily support to make a retest of a previous broken zone to continue the sell until the final support con the weekly bull trend. peace!
https://www.tradingview.com/x/z01gGv0x/ Take a look at our analysis for USDCHF. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 0.916. The above observations make me that the market will inevitably achieve 0.910 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
First of all sorry that my chart is not looking too messy and there are no weird indicators nor anything. We have only two possible scenarios for bitcoin’s dominance. 1) The bearish pattern you can clearly see is broken after 2 years so two things might happen here: 1-1: BTC.D can have 60% touched in the coming days as a pullback to the broken resistance but what happens afterwards will be important. 1-1: if the pullback is confirmed ethereum will finally shine along with many altcoins. the target for the dominance will be 45-48%. What can happen afterwards: the price will keep moving in the pattern until a real breakout happens which will likely result in new lows for the dominance. 2) If the pullback is ruined and we see the support lost it will mean the pattern had a fake breakout & that would mean this current pattern is not a reversal one: 2-1: we can see new highs for the dominance if this is confirmed, The target will be 70-72%. If bitcoin price falls too the market will bleed.? But what can happen afterwards, two scenarios again: 1) Since the price will touch the top of the long-term trading range we can see the dominance moving towards the bottom again. 2) A double bottom will be confirmed, depending on the situation then, if dominance fails to break the shoulder at around 57% we can see even new highs but the chance of this happening is below 10% lol unless ethereum is destroyed lol. So that’s all. I recommend yall to wait if you want to buy anything. And note that btc.d can go up and the price can still fall so beware and dyor. Thanks for reading this.
The situation at this stage is simple, it is trying to test the bottom, if it fails, we should still wait for a return to 98,000 USDT and then a breakthrough of resistance. Let's wait for the development of events and the fixation of the trend in the 15-minute chart. In general, it is trying to break through the support zone for the sixth time, which is not very good and normal.
If history is to repeat similar to 2021, expect COINBASE:BTCUSD to retrace to $76k, $76k is also where the CME Gap is as well, looking at this channel that has withstood time and the short-term trend. I do believe $76k is going to happen.
- Key Insights: The UK pound is facing substantial weakness due to rising inflation expectations and geopolitical uncertainties. The US dollar maintains its bullish momentum, providing traders with favorable shorting opportunities against GBP. Traders should focus on the upcoming economic data from the UK that may further influence GBP's performance and market sentiment. - Price Targets: Next week targets for shorts include T1: 1.20500 and T2: 1.19500. Stop levels are set at S1: 1.21700 and S2: 1.22000 to ensure risk management in the current bearish environment. - Recent Performance: GBP/USD has experienced notable volatility, reflecting the negative sentiment towards the pound. It has notably weakened against the dollar, leading to an increased focus on bearish trading strategies as conditions remain unfavorable for the GBP. - Expert Analysis: Experts maintain a cautious stance on the GBP while expressing a consistently bullish outlook for the dollar. The ongoing volatility suggests a bearish trend for GBP/USD, with potential for further selling opportunities as traders remain strategic in their engagements. - News Impact: Macroeconomic factors, including inflation and potential data releases concerning employment and GDP growth in the UK, are critical in shaping the near-term trajectory of GBP/USD. Market participants should remain vigilant about these influencing indicators as the week unfolds.
I entered this spot long trade at .006, and just added more to my position at .12 after bouncing well off support around .010 Volatility is wild on this as it is a microcap coin, but the dev is brilliant and the co-founder of Solana has been retweeting him and the project OpenSVMAI. I think this will have wild swings but it is worth entering in a spot long trade with a target of .05 for first profit taking, and then next at .10 - you can try to scalp these as it seems everytime it hits new ATH with a blow-off top, it retraces 30-40%. There might be a bit more downside if BTC decides to sweep the 88k region, and if SOL sweeps 175. But either way DCA at this point is great.
On EUR/USD , it's nice to see a strong sell-off from the price of 1.03020. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. Fair Volume GAP (FVG) and high volume cluster are the main reasons for my decision to go short on this trade. Happy trading, Dale
BTC has formed a Shoulder-Head-Shoulder pattern with a downside target between 75,000$ to 78,000$, i.e. the 1.618 and 1.414 Fib-extensions. As price has passed the 0.618 Fib, the next resistance level is the 0,786 Fib. What does it mean with reference to VIX (see my previous posts on it)? As the VIX and BTC have an inverse price relationship, we can expect a higher VIX. Prepare yourself if you are long stocks - it could be a rough ride the next few weeks ......