Cryptos are coming sharply lower, after the classical psychological pattern here.
There were plenty of traders buying cryptos after ETF launch; and then there is another group that did not book on that big run ahead of the ETF announcement.
All of those are now liquidating, making a decline strong and sharp.
Looking at the ethereum, price is now now at 2140/70...
As an update from my first post on this new account, I'm showing u that on this 30m BTCUSDT chart that price is heading in a potential impulse wave (Elliot Wave Count). So, look on Chaikin Money Flow and u'll find a strong bearish divergence printed! Bears on command.
The current price action is aiming the next demand zone as shown on this 30m chart. That impulse bearish movement, as expected, based on Elliot Principle, is about to happen. Bearish divergence on Chaikin Money Flow.
Potential expanded ending diagonal scenario for this asset. Price action is likely heading downward to made an interesting and profitable 3th wave of the expected bearish impulse wave 3 of that triangle / megaphone hypothetical scene. Key levels for watching on that 30m chart, plus Chaikin Money Flow divergences. Bear flag breakdown expected for soon on 4h chart -...
Price saw rejection around the $2,019 level, which appears to be the completion of a regular flat pattern while also coinciding with the previous resistance established during the August 13, 2022 highs. My primary target for this short is set at $1,659, which corresponds to the equal leg target of the previous bearish impulse leg down. Continued consolidation...
Despite nice drop on USDCNH since start of the year, we have seen silver mostly trading sideways. However, sooner or later correlated moves will be back, possibly after wave four rally n USDCNH. Nice resistance is near 6.84. Based on timing, next week should be important for a potential further weakness, when China fully reopens after holidays. Plus, its going to...
AUDNZD has been trading nicely higher since start of the year and formed a clear bullish impulse. Notice that price also reached the upper trendline of an EW channel which is usually the ending point of a higher degree structure. We talked about this in our past updates and warned about a bearish turning point which is now in full progress and will most likely...
Ascending structure with bearish momentum at the third touch.
Looking forward to a corrective structure within the 1h or 15min timeframe before taking a short position. OANDA:EURJPY
Expanding channel going for a possible double top. If ever price creates a rejection at the double top and provides a clear bearish impulse corrective structure, everything will be set to go short.
Daily TF - Market has been moving in an ascending channel since Jan 2021
4H TF - It is forming a ascending channel and it has recently done a double bottom and moved impulsively to the up side.
1Hr TF - After the impulsive move to the upside market formed an ascending channel that touched a previous level forming a double top and consequently moved impulsively...
The break of the bullish trend was followed by a bearish impulse break.
Here comes a second bearish impulse followed by a corrective structure.
Looking forward to some sort of double top within the correction before going short.
Price reached for a double top within an ascending channel.
Next was a bearish impulsive break;...waiting for a corrective structure in order to go short
Evening star reversal on the weekly in this supply zone, sellers are back in control after this bearish impulse. Price now pulling back for a continuation to the downside. Look to sell the break down..
In today’s #marketinsights video recording, I talk about #SPX and #DXY.
SPX keeps going up, and with structural variances playing in we could see fresh highs reached in no time. Will the US-China situation and a dovish #Fed boost appetite for equities more?
The US Index, on the other hand, should be watched cautiously. Will this upside impulsive move turn out to...
