The possibility we could see price bounce off the support, to resistance and 0.382 Fibonacci level before the downtrend continues.
the entry point would be after:
Confirmed rejection at resistance and the 0.382 fib level (0.9050)
Bearish confluence among indicators (MACD, RVI)
Always in line with 4H EMA and the overall trend of currency (bearish)
Recently broken out of the strong support and resistance zone.
Restested to the support line which may have become resistance.
Looking to continue to move bearish in the coming week
However, due to prices being in no mans land we cannot give precise targets.
Welcome to a new market update.
BTC made a huge dip after the tweet of Elon Musk.
I personally don't care that Tesla doesn't accept Bitcoin anymore.
Elon says nonsense and manipulates everybody.
Elon says nonsense but we must be thankful. You need to buy dips like this. The altcoin prices were big blessings.
After the dip I noticed something nicely....
BTC is moving slowly.
We failed the double dottom where I talked about in my previous update.
Then we formed a small downtrend that we broke. The retest was succesfull and now I want to see a double bottom on 49130 (The golden zone on the fibonacci), If we make this double bottom succesfully, we will go up.
The first target will be 51500. If we can reclaim this...
Hey everyone, welcome to a new market update.
Please trade safely.. BTC is leading and can make unexpected moves at the moment.
If BTC starts to get bullish, I will start to make updates about the altcoins.
Sooo.. BTC is holding support around 48K.
And we see something bullish. BTC is making an double bottom!
A double bottom is a bullish reversal pattern,...
In contrary to my other post which pointed out a bullish pennant, there is also a bear flag forming on the daily chart. This does not look good for bulls since if there is a break below the flag, it may turn nasty. Hence, it is better wait out before impulsively buying solely on the bullish pennant.
Note: Not financial advice. I bring the evidence, you be the...
Below 200EMA could bounce of the 800EMA on the 4 hour. We had an uptrend (blue line) that broke to the downside with a retest as well. There would have a to be a very quick reversal for us to tick short term bullish again. Indicators also looking bearish.
Long term bullish.
Possibility for continued bearish momentum on EURCHF.
Price is descending and is currently retesting previous support around 1.0950.
If we see price reject this level, i believe bearish momentum could continue down to the 1.880 level
EURAUD consolidating sideways looking like a bearish correction. Expecting to see the 15250 lows tested again and further downside. Im not looking for longs even on a break up from consolidation as not expecting it to go any further than the 38.2 fibonacci levels.
-On the Weekly and Daily timeframe shows strong bearish momentum
-There has been a breakout of the ascending triangle and looking to to enter on the retest of the liquidity zone.
-Price has been in a downtrend since 23rd March 2020.
-We should wait for a breakout and a retracement of the supply/liquidity zone to look for a short...