Hello all. market needs at least a new historical low. lets see what happen. do you agree? leave a comment of ur idea (wink)
The market works for me Just took a #solana short Let's get it. Target area $127.5- $127
In this video, I break down a straightforward long trade based on an internal corrective zig-zag pattern. This setup demonstrates how to capitalize on short-term trades with a solid risk-reward ratio, securing profits before looking for a re-entry opportunity. The trade aligns with the anticipation of Bitcoin approaching its recent highs, potentially forming a double top. Currently, the trade has a protective stop at $83,169 and a target of $89,176.
The George W Bush pattern still seems to be forming...taking the longer larger and more powerful form. Will the right lower part of the W take place above the lower left side, dead even or below. Certainly sentiment would lead us to believe it will be well below the left side. However, today failed to make a lower low. Selling may resume Sunday night/Monday morning or the double bottom retest may be complete....OR of course we can keep charging significantly lower.
Palm Oil (FCPO1!) is expected to strengthen in the short term as part of wave b of wave (ii), with a potential test of the 4,525–4,771. However, caution is advised for a possible reversal toward the 4,235–3,973 range to complete wave c of (ii), as indicated by the black labels.
My BTC question is: what is the probability that we reverse without tagging key Support @ $71,363 keeping in mind we have attempted to get above $92,272 and failed and keeping in mind that Bitcoin is struggling to hold above $90k? But remember price doesn't move in a straight line and if everyone is short then we might have an aggressive move to the upside before we set a new low
If the price holds above the first two trend lines and breaks up the downtrend, this could mark the bottom. Otherwise, the price may continue to decline. Not an expert, not a financial advice. This is just my strategy to invest and definitely you may have a different opinion.
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Look at this set-up.... Bearish sentiment is kicking in.... Let's expect that price could continue dropping after the retest of 8500..
Price is currently moving in a falling channel which RSI has broke out. Buy signal has printed in 2 hour time frame. A good long opportunity to target channel high in short term. Manage your risk and always use stoploss.