Certainly, let's analyze the chart pattern you provided. **Chart Pattern:** The chart displays a bullish flag pattern on the 4-hour timeframe for the Chainlink (LINK) / TetherUS (USDT) pair. **Key Elements:** * **Bull Flag Structure:** The chart shows a sharp upward move (flagpole) followed by a consolidation phase (flag) within parallel trend lines. This pattern often signals a continuation of the upward trend. * **Breakout Point:** The price has broken above the upper trend line of the flag, confirming the bullish signal. * **Previous High:** The price is currently below the previous high, indicating potential upside. * **Flag Target:** The chart shows a potential target at 32.17, which is calculated based on the height of the flagpole projected from the breakout point. * **RSI (Relative Strength Index):** The RSI is currently at 58.63, which is above the 50 level, this shows strong momentum to the upside **Potential Price Targets:** Based on the bullish flag pattern and the current price action, here are some potential price targets: * **Short-term:** The immediate target is the previous high at 26.94. If the price breaks above this level, it could signal further upside potential. * **Medium-term:** The flag target at 32.17 is a significant level to watch. If the price reaches this level, it could be a strong resistance level. * **Long-term:** The overall trend for LINK is bullish, and a sustained break above the previous high could open up the possibility of further gains. However, it's important to consider that the RSI is currently overbought, which suggests that a pullback or consolidation may occur before the price resumes its upward trend. **Additional Considerations:** * **Volume:** Increased volume during the breakout can confirm the strength of the bullish move. Low volume could suggest a weaker move and potential for a reversal. * **Support and Resistance Levels:** Identifying key support and resistance levels can help in managing risk and setting profit targets. https://www.tradingview.com/x/NnT6vlG7/ **Disclaimer:** This analysis is based on technical analysis and does not constitute financial advice. It's important to conduct your own research or consult with a financial advisor before making any investment decisions.
Hello Traders, welcome back to another market breakdown. Bitcoin is showing strong bullish momentum, breaking through key resistance levels and signaling a potential continuation to the upside. However, The price is rejecting the Previous all-time high. Hence, instead of jumping in at current levels, I recommend waiting for a pullback into the breakout zone for a more strategic entry. If the pullback holds and buying confirms, the next leg higher could target: First Resistance: Immediate levels formed during prior consolidation. Stay disciplined, wait for the market to come to you, and trade with confidence! Trade safely, Trader Leo.
XRP is showing strong bullish momentum, positioning itself for a significant rally. If today’s candle closes above the critical price level of $2.62, it could set the stage for XRP to challenge its previous all-time high of $3.31, last seen in January 2018. This price level represents a key psychological and technical barrier, and a breakout would signal the start of a new phase of price discovery. Bullish Scenario: Toward a New All-Time High If XRP successfully closes above $2.62, it may gain the momentum needed to push higher. A sustained rally could see XRP reaching and surpassing the $3.31 mark, establishing a new all-time high by December 25th, with a potential peak of $3.70. This scenario would provide a significant boost to market sentiment, rewarding long-term holders and reinforcing XRP's position as a top-performing asset in the crypto space. Key Drivers for the Rally: Increased Institutional Interest: XRP continues to benefit from growing adoption in cross-border payments and institutional use cases. Market Sentiment: Positive developments in the broader crypto market are likely to contribute to sustained buying pressure. Breakout Momentum: A close above $2.62 could trigger a wave of buying as traders look to capitalize on the breakout. Potential Resistance Levels: $3.31: Previous all-time high and major resistance. $3.50 – $3.70: New price discovery range if the rally continues. Support Levels: $2.50 – $2.62: Critical zone for maintaining bullish momentum. $2.00: Strong support in case of a pullback. Outlook for XRP Holders: If XRP achieves a new all-time high during the holiday season, it would mark a significant milestone for the asset and its holders. Closing above $2.62 today could act as the catalyst for this rally, potentially making Christmas Day 2024 a historic moment for XRP.
Here's the 4hr chart showing SEED_DONKEYDAN_MARKET_CAP:JASMY retesting previous resistance now support @ 0.0484 and its price action is lining up almost perfectly with my yellow arrow which i placed a few days back predicting the 0.0484 target. This retracement was necessary so that SEED_DONKEYDAN_MARKET_CAP:JASMY can cool off consolidate and continue higher. I will update as needed. Short Term Target = $0.0484 ?
USD/JPY Market Analysis On the 30-minute timeframe (M30), the chart reveals key price structures indicating potential Buy and Sell opportunities. Below is the detailed analysis: Buy Entry Zone: This zone is identified around the support area at 149.500 to 149.384. A potential reversal from this level provides a buying opportunity, targeting levels above 150.500. Sell Entry Zone: The resistance area between 150.341 and 150.790 offers a potential short-sell opportunity. Previous rejection from this zone highlights significant bearish pressure. Price Action Patterns: The market shows a mix of Higher Highs (HH) and Lower Lows (LL), indicating a consolidation phase that may lead to a significant move. The Internal Daily Move (IDM) pattern highlights the tug-of-war between buyers and sellers within smaller timeframes. Trading Plan: Buy Setup: Wait for the price to approach the Buy Entry Zone and confirm with bullish signals (e.g., candlestick patterns or increasing volume) before entering a position. Sell Setup: If the price moves toward the Sell Entry Zone, consider short-selling opportunities with a target around 149.500. Supporting Factors: The DEMA indicators (30, 50, 80, and 100) suggest short-term trend direction, with a potential trend reversal if a strong breakout occurs. Upcoming fundamental data releases, such as economic news from the U.S. and Japan on December 12, could introduce significant volatility. Conclusion: The market is currently in a consolidation phase, offering opportunities for both buy and sell trades depending on price movements toward the identified zones. It is essential to implement strict risk management strategies for every position taken.
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Timeframe: 15-minute chart Entry Price: 2625 Stop Loss: 2617 Take Profit: Based on Fibonacci Retracement at 161.8% Analysis: Gold (XAU/USD) is currently trading in a bullish short-term momentum, with a key breakout observed near the 2625 level, which aligns with a significant resistance-turned-support zone. The 15-minute chart highlights a recent impulsive move, followed by a minor retracement, creating a potential setup for continuation. Fibonacci Levels: The Fibonacci extension tool, applied to the most recent swing, places the 161.8% retracement level as the take-profit target. This level is indicative of the next possible resistance zone and offers a favorable risk-reward ratio. Stop Loss: A tight stop loss at 2617, just below the prior swing low, minimizes downside risk. This level also sits below the 23.6% retracement of the same swing, serving as an invalidation point for the bullish setup. Momentum Indicators: RSI: Holding above 50, indicating bullish momentum. A break above 70 may signal further upside. Moving Averages: The 50-period moving average on the 15-minute chart supports the upward trajectory, acting as dynamic support. Trendline Support: A short-term ascending trendline intersects near the entry point, offering additional confluence for a continuation trade. Trading Plan: Entry Point: 2625 Enter as the price stabilizes above this level, confirming breakout strength. Stop Loss: 2617 Protect against downside risks with a stop loss below recent swing lows. Take Profit: Based on the Fibonacci 161.8% level. Monitor price action as it approaches the target for signs of weakening momentum or rejection. Conclusion: This setup offers a favorable risk-reward ratio with strong technical confluence for a continuation toward the Fibonacci 161.8% extension level. Tight risk management with a stop loss at 2617 ensures downside protection if the setup fails. Note: Always ensure alignment with broader market trends and fundamental events, especially for XAU/USD, which is sensitive to economic data and geopolitical developments. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before trading.
1. no divergence at 1 hour time frame 2. at 0.618 of fib from last swing low and at 0.382 from previous major swing so strong support
KEYUSDT is currently making LLs but it can make a Reversal from here because the daily chart is showing divergence and it is also at on bottom support and it also shows a good volume spike so the bias on this coin is Bullish when it breaks the resistance level it will be good for buy
I think this will be a very good entry. According to the chat and price action the price intended to fly?