Overview: The SPY (S&P 500 ETF) shows a potential short opportunity, leveraging a confluence of Elliott Wave and Fibonacci resistance. This setup aligns with a bearish corrective pattern, presenting a chance to capture downside momentum amidst macroeconomic uncertainties. ? Technical Analysis: Elliott Wave Structure: Wave W completed with a sharp decline, followed by a retracement in Wave X. Anticipating the continuation of Wave Y lower, targeting Fibonacci extensions. Fibonacci Levels: Entry Zone: $598.33–$599.23 (between the 61.8% and 65% retracement). - Stop-Loss: $606.64 (above the 88% retracement to account for false breakouts). - Target 1: $585.78 – Aligns with prior support and Fibonacci extensions. - Target 2: $570.14 – Extended target toward the 1.618 projection. Short Zone Confirmation: The short zone aligns with key resistance levels that previously rejected bullish attempts. ? Macro Overview: Economic Indicators: Rising treasury yields and persistent inflation concerns are weighing on equities, particularly large-cap indices. The Federal Reserve's hawkish stance on interest rates adds pressure to SPY's bullish outlook. Seasonal Trends: Historical December pullbacks in risk assets during rate-hike cycles favor bearish scenarios. Market Sentiment: Investor sentiment remains cautious, with increasing volatility indicating indecision in the broader market. ? Trade Plan: Short Entry: Wait for price action to retrace into the short zone ($598.33–$599.23). Risk-Reward: Targeting a 3:1 risk-reward ratio with both short-term and extended profit targets. Caution: Monitor fundamental announcements such as labor market data or Federal Reserve statements, as these could drive volatility and invalidate the setup. ? Final Thoughts: SPY offers a clean technical setup supported by a bearish macro narrative. This trade allows for tight risk management while capturing a potential extended downside move. Let me know your thoughts or if you'd trade this setup differently! ??
In this video I break down what I'm seeing with Bitcoin and the possibility for an even deeper correction into the Green Buy-Block zones. I also revsit my Fibonacci projections for this cycle, with initial targets of up to $150k and ulitmately a $200k high target based on the 3.618 Fib retracement projection. There's confluence with these targets using the measured moves from the recent Bull Flag breakout as well. The BIG question is, where do we go from here? Here we check out the Pi Cycle Top indicator, and I make some potential projections... And propose the idea of a dual-cycle top, like we saw in 2013. It makes sense, that we see a Jan / February pump to new highs, followed by a recessionary bust in Q2 (March) into the summer and potentially into Q3. But then rally strongly up from there in Q4 as Oct, November and December are typically very bullish in a 4 year cycle. Either way, I think $200k is the cycle top, if we can get there. The USDT.D study has also been updated, to show 'sticky' support here on the lower trendline, allowing BTC to push higher again above $100k and even rally higher per above. But then we'll likely see a reversion to the mean, with the USDT.D and Total Market Cap / Bitcoin prices. Check out the video, and share some love with a Like, Comment, and Share. Best to luck to everyone! - Brett
crypto was in bearish session for hours fighting insane major level here strong close above cryptos will revive with this leading from the low market cap group quite the demand for a coin with such low cap will be plenty of rejection attempts here, u generally want to see a big rejection downside, failed and swoop back to close up then enter.
Here we are guys!.....waiting for the next big move... Who knows? Let's go together through some ideas! Price Action: Recent Peak: DOGE reached a recent high around the 0.45 USD mark. Current Price: The price has since dropped to around 0.32 USD. Support and Resistance: Support: The price seems to be finding some support around the 0.32 USD level, as indicated by the recent bounce. Resistance: Key resistance can be seen around 0.39 to 0.45 USD, where previous peaks were formed. Volume: Volume Spikes: There was a significant volume spike during the peak, suggesting strong buying interest at that time. However, the recent drop in price has also seen reduced volume, indicating a possible consolidation phase. Moving Averages: EMA (Exponential Moving Average): The price has dipped below the EMA, which often acts as a bearish signal in the short term. The EMA appears to be around 0.39 USD, acting as dynamic resistance. Trend Analysis: Downtrend: After reaching the peak, DOGE has been in a downtrend, characterized by lower highs and lower lows. Potential Reversal: The recent consolidation and slight bounce off the support might indicate a potential reversal if the price can break above the EMA. Prediction: Short-term (Next Week): Bullish Scenario: If DOGE breaks above the EMA (0.39 USD) with increased volume, it could target the previous resistance around 0.45 USD. A stop-loss could be placed just below the recent low at 0.31 USD to manage risk. Bearish Scenario: If the price fails to break above the EMA and continues to show weakness, it might test lower support levels around 0.27 to 0.24 USD. A stop-loss in this case could be set just below the 0.31 USD mark. Medium-term (Next Month): Consolidation: Given the recent volatility, DOGE might enter a consolidation phase, trading between 0.32 and 0.39 USD before making a decisive move. Breakout Potential: A breakout above 0.39 USD could signal a continuation of the uptrend, targeting higher levels around 0.45 to 0.50 USD. Conversely, a breakdown below 0.32 USD might lead to further declines, testing the 0.27 to 0.24 USD range. Long-term (Next Quarter): Market Sentiment: The long-term outlook will largely depend on broader market sentiment towards cryptocurrencies, especially given Dogecoin's history of being influenced by social media trends and broader crypto market trends. Fundamental Factors: Any significant announcements or developments related to Dogecoin's utility or adoption could impact its price significantly. Conclusion: Based on the current chart, Dogecoin appears to be at a critical juncture. The immediate support at 0.32 USD and resistance at 0.39 USD are key levels to watch. A break above or below these levels with confirmation from volume could provide clearer direction. For traders, setting clear profit targets and stop-loss levels around these key areas would be prudent to manage risk effectively.
Description: On the daily chart of Bitcoin (BTC/USD), we observe an interesting dynamic. After a recent spike around $97,983, the price has shown a significant pullback, finding support at the $96,422 area. This level has acted as a key support, where the price has bounced off, indicating a possible bullish reversal in the short term. Analysis: Resistance and Support: The price has rejected the resistance at $97,983.96 and has retraced to the support at $96,422.90. This pullback has been followed by a bounce, suggesting that the support is holding. Volume: An increase in volume during the bounce from the support can confirm buying strength. Strategy: Entry: Consider buying on the bounce from current prices, Stop Loss: Place a stop loss below the recent low, around $96,200, to manage risk. Take Profit: Target the previous resistance at $97,983 as the first profit target. If the price breaks this resistance, the next target could be the all-time high or psychological levels like $100,000.
Overview: Meta Platforms, Inc. (NASDAQ: META) continues to be a dominant player in the tech space, fueled by its advancements in AI and the ongoing pivot to the metaverse. This setup takes into account both macroeconomic conditions and technical factors to identify a high-probability trade. ? Technical Analysis: Fibonacci Levels: The price has retraced to the 61.8% ($583.19) and 65% ($580.34) Fibonacci levels, forming a potential buy zone. These levels have historically acted as strong support during Meta’s corrections. Elliott Wave Structure: Wave (IV) correction appears to be completing near the 0.618 retracement, aligning with the broader uptrend. Expecting a bounce in Wave (V) toward new highs. Key Levels: - Entry Zone: $583.19 - $580.34 (marked by the shaded box). - Stop-Loss: $576.33 (below key support to minimize risk). - Target 1: $606.11 – Alignment with prior resistance. - Target 2: $627.35 – Extension toward the next key level. ? Macro Overview: Tech Resilience in Tight Liquidity Conditions: Despite rising interest rates, META has outperformed the NASDAQ 100 due to its AI-driven growth initiatives and continued monetization improvements in Instagram and WhatsApp. Ad Recovery: Signs of recovery in digital advertising could provide further tailwinds for META, especially as businesses increase ad spending during Q4. AI and Metaverse Bets: Meta's Reality Labs losses have stabilized, and investors are showing increased confidence in their long-term strategy as AI integration becomes evident across their platforms. ? Trade Plan: Entry Zone: Wait for the price to approach $583.19–$580.34 to enter long positions. Risk-Reward: This setup offers a strong risk-reward ratio of 3:1, assuming both targets are met. Key Note: Watch for a confirmed bounce from the buy zone before executing the trade. Should the price break below $576.33, the setup will be invalidated. ? Final Thoughts: META remains a strong growth stock amidst macro uncertainty. This trade setup leverages both fundamental trends and technical confluences for a calculated entry. Feel free to share your thoughts or ask questions in the comments below.
Since its inception, ETH has moved up in a 5-wave pattern, which is now being followed by an ABC correction. Wave A occurred during the last bear market. Currently, we are in wave B, and the market is showing a lot of strength. Wave B should retrace the 5th wave completely and move higher. A move higher than wave 5 will indicate a strong B wave. Depending on where wave B finishes, it will determine whether wave C retraces wave A or not. If the B wave falls between 101-123.6% of wave A, there is still a relatively good chance that wave C will completely retrace wave B. If the B wave exceeds 123.6% of wave A, there is little chance that wave C will retrace all of wave B. If it does, it will still be an irregular pattern. When the B wave exceeds 138.2% of wave A, there is no chance that wave C will retrace all of wave B. I personally can see ETH reaching around $7,000 to $9,000 very soon This is all I can say based on the 6-monthly chart.
COINBASE:SOLUSD Technical Analysis This chart suggests the price is in a corrective phase, with confluence around key Fibonacci levels. Divergences in RSI, Williams %R, and MACD support this corrective structure, while the Elliott Wave count indicates the potential for a strong rally in the next impulsive wave. Fundamental Analysis 1. Anticipation of Solana Spot ETFs: Following the successful launch of Bitcoin spot ETFs, there is growing speculation about the introduction of Solana-based ETFs. Such financial products would make SOL more accessible to traditional investors, potentially increasing demand and positively impacting its price. 2. Positive Technical Indicators: Analysts have observed bullish technical patterns in Solana's price charts, suggesting the potential for significant growth. For instance, the formation of a 'cup and handle' pattern indicates a possible upward breakout, with some projections estimating substantial price increases if this pattern holds. 3. Evolving Regulatory Environment: The recent approval of Bitcoin spot ETFs and a shift towards a more crypto-friendly regulatory stance in the U.S. have increased optimism for the approval of Solana-based ETFs. This regulatory shift could enhance Solana's legitimacy and attract a broader investor base. These developments contribute to a positive outlook for Solana, indicating potential for continued growth in the near future.
BTC is still bullish with a potential take profit on correction, on technical the weekly candle broken supply roof is keeping buyers on demand , a break of that support /demand floor will see price come to 84k-83k zone with a capacity for double confluence at that zone for a buy , watch the box zone for potential buy entry.
u know the drill momentum break closure for confirmation, else no entry runner worthy mean reversion counter trend to the session bias though but I saw signs of recovery with eth dominate the upcoming sesh