Remember, these insights are for educational purposes only. Moving Averages: The 200-day EMA is a crucial level to watch. Key support levels to watch are around 52,264.55 and 53,630.55. The immediate resistance level is around 53,654.00.
Hi Traders What are you Thinking About NZDCAD This Price Direction In Buy Side 1st Target 0.83100 2nd Target 0.83500 Lets Like and Share Your Idea in Comments.
Keeping in line with the current bear trend, I would anticipate price looking to reach for levels below 0.62672. Currently short in profit at 42 pips, total target would be for 150. Although we've been ranging for the past two weeks, price has slowly but steadily been shifting downwards. A key area of interest was taken out when we crossed below 0.63500, no real bullish pressure resulted after reaching below that level. Take note that bullish volume strength has been significantly lower compared to the bearish levels. My take is this market is going to keep trending downwards a bit more. Let's see what the next couple of weeks has in store!
GBPJPY is in advancing phase. No bearish divergence is formed. Ascending channel support further indicates bullish trend continuation.
BTC/USD Performance Review: December 16, 2024 Market Overview Bitcoin (BTC) has had a dynamic day, reaching a new all-time high of $106,648 in the early Asian session. However, it has since corrected to around $104,773. The main driver behind today's price action is the anticipation of the US Federal Reserve's decision on interest rates, expected on Wednesday. Key Events and Influences New All-Time High: BTC reached a new all-time high of $106,648 early today. This surge was driven by strong institutional demand and positive market sentiment. Federal Reserve Anticipation: The market is closely watching the Federal Reserve's upcoming decision on interest rates. A potential rate cut is seen as positive for risk assets like Bitcoin. Institutional Inflows: Bitcoin Spot ETFs recorded a net inflow of $2.17 billion last week, indicating strong institutional interest. Technical Indicators: Early signs of bearish divergence in the Relative Strength Index (RSI) and Awesome Oscillator (AO) suggest weakening bullish momentum. Price Movements Opening Price: BTC started the day at $105,000. High: Reached a high of $106,648 early in the Asian session. Low: Corrected to a low of $104,773 later in the day. Current Price: Trading around $104,773 at the time of writing. Technical Analysis Moving Averages: BTC is trading above its 50-day EMA but below its 200-day EMA, suggesting a potential bullish trend if it can reclaim the 200-day EMA. RSI: Currently at 68, approaching overbought territory. A break above 70 would typically generate a sell signal. MACD: The MACD line recently crossed above the signal line, indicating bullish momentum. Bollinger Bands: The price touched the lower Bollinger Band and is now moving upwards, indicating a possible reversal. Volume: OBV is rising, suggesting strong buying interest. Market Sentiment Fear and Greed Index: Currently reads 83, indicating "extreme greed" among traders. Analyst Predictions: Analysts remain bullish on BTC, with some setting a target of $110,000. Conclusion Bitcoin has had a volatile day, reaching a new all-time high before correcting slightly. The market is closely watching the Federal Reserve's upcoming decision on interest rates, which could significantly impact BTC's price. Despite the correction, the overall sentiment remains bullish, supported by strong institutional inflows and positive technical indicators..
We're going attempt a first buy setup on what could be the c wave of a monthly upside move. No need to look for particular trading hours on this one as the setup is happening now, so we'll just buy at market based on the macd cross and also the stop loss will be at the previous macd cross on the 1hr time frame. Levels on the chart, trade with care.
#Ethereum switched to a parabolic run after exiting the bullish megaphone pattern during the 2016-2017 bull run. The reflection of 2016-2017 is repeated there exactly!
An up move is due on the Aussie Swiss which might be starting now on what seems to be a double bottom. Updates on smaller timeframes will follow.
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