Key Observations: Resistance Zone (~95,963 - 97,880 USDT) Price previously rejected this zone. The red highlighted area with a downward arrow suggests a potential short setup. Support Levels: 91,414 USDT (current resistance-turned-support level). 80,223 USDT (next major support). 72,848 USDT (critical lower support). 200-Week Moving Average (Red Line) Currently acting as dynamic support. If price breaks below, it signals a strong bearish trend. RSI Indicator (Bottom of Chart) Shows bearish divergence. The "Bear" label suggests momentum weakness. Bearish Scenario: If BTC fails to break above resistance (~91,414 - 97,880 USDT) and forms a lower high, it could lead to a downtrend. A breakdown below the ascending trendline could trigger a move toward 80,223 USDT, the next significant support. If BTC loses 80,223 USDT, then 72,848 USDT (previous demand zone) could be tested. A bearish RSI structure further confirms a weakening trend. Final Thoughts: If BTC fails to sustain above 91,414 USDT, a rejection could trigger selling pressure. A break below the trendline and 200-week MA could accelerate the downtrend. Bullish invalidation happens if BTC closes above 97,880 USDT, breaking resistance.
1. Market Structure & Context The EUR/GBP daily chart presents a well-defined double bottom reversal pattern, indicating a potential trend shift from a prolonged downtrend to an uptrend. The pair has been in a bearish phase, as reflected by the descending trendline. However, price action suggests a possible trend reversal, as buyers are stepping in near a key demand zone. A successful neckline breakout would confirm the bullish reversal, potentially leading to significant upside movement. 2. Key Chart Patterns & Technical Levels A. Double Bottom Formation (Bullish Reversal Pattern) The double bottom is a powerful reversal pattern, often signaling the end of a downtrend. It consists of two similar low points, forming a "W" shape. Bottom 1: The first low was established around 0.8200 - 0.8250, where buyers initially stepped in to push prices higher. Bottom 2: Price retested this demand zone, but sellers failed to push it lower, confirming a strong support level. Bullish Significance: The inability of sellers to break below the support zone suggests the exhaustion of selling pressure and increasing buy-side interest. B. Neckline Resistance & Potential Breakout Zone The neckline resistance is drawn around 0.8450 - 0.8500, a key level where previous price rallies were rejected. A breakout above this zone, ideally with strong bullish volume, would validate the double bottom pattern and trigger a bullish breakout trade. C. Descending Trendline Breakout Attempt The long-term downtrend resistance (trendline) has been holding since mid-2024. Price is currently testing this trendline; a clear breakout and retest would add further confidence to the bullish bias. 3. Trade Setup & Execution Plan A. Entry Strategy There are two possible entry strategies, depending on risk appetite: Aggressive Entry: Buy immediately upon a breakout above 0.8500, anticipating a strong rally. Conservative Entry: Wait for a breakout + retest of the neckline before entering, ensuring confirmation. B. Stop Loss & Risk Management Stop Loss (SL): Placed below the recent swing low at 0.82029. This level acts as the last line of defense for bulls; if price drops below it, the bullish thesis is invalidated. C. Take Profit (TP) Targets TP1: 0.86122 (first resistance zone, a previous swing high). TP2: 0.87284 (higher resistance level, next supply zone). These levels serve as potential profit-taking areas where sellers may re-enter the market. 4. Additional Technical Confluences Supporting Bullish Bias ✔ Key Support Zone Holding Strong – The price has bounced twice from the demand zone (0.8200 - 0.8250), confirming strong buyer interest. ✔ Volume Confirmation Needed – A breakout with high volume increases the probability of sustained bullish momentum. ✔ RSI & Momentum Indicators – If RSI crosses above 50, it would further confirm bullish momentum, supporting the breakout trade. ✔ Favorable Risk-to-Reward Ratio (RRR) – A well-defined stop loss & take profit strategy ensures an optimal trade setup. 5. Summary & Final Trading Plan Current Market Bias: Bullish if neckline breaks (Double Bottom Confirmation). Entry Confirmation: Look for a breakout above 0.8500 with strong volume. Profit Targets: TP1: 0.8612 TP2: 0.8728 Stop-Loss Level: Below 0.8202 to protect against fake breakouts. ? Final Tip for Traders: Monitor price action & volume closely. A breakout without volume may lead to a false move. Confirmation with bullish momentum is essential for a high-probability trade setup.
Devexperts has announced the partnership between its SaaS trading platform DXtrade and amana, a neobroker and liquidity provider based in Dubai. The agreement allows brokers using DXtrade to integrate amana’s liquidity solutions, offering traders improved execution and access to global markets. Brokers can deliver faster and more efficient transactions to clients while supporting a broad […]
LDA Technologies (LDA) has announced a tenfold reduction in trade data distribution latency through its new VeloCT* plug-and-play cabling ecosystem, offering a 0.5 nanosecond one-way latency—compared to the 4–5 nanoseconds typically introduced by Layer 1 switches. The VeloCT system eliminates the need for traditional Layer 1 devices in ultra-low latency trading environments by enabling direct […]
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