After a strong breakout from a falling wedge and handle pattern on Wednesday, Nov 6, 2024, price surged to an All-Time High of 109,358.01. However, a retracement followed, with the formation of a double top pattern leading to a breakdown below the neckline at 91,809.11, sending prices tumbling to 78,167.81, perfectly aligning with the golden ratio (50% Fibonacci level). From there, buyers stepped in, pushing the price back up to the 38.2% Fibonacci level, but strong resistance led to two rejections and the formation of three consecutive doji candles, signalling market indecision. What’s Next? ? Bullish Scenario: A breakout above 38.2% could lead to a neckline retest 91,809.11. ? Bearish Scenario: If rejection holds, the double top projection targets is 74,279.20, with further downside towards 61.8% or 66%, aligning with the daily trendline. ? Risk Management Reminder: The market is at a critical level—manage your risk wisely! Set stop losses, use proper position sizing, and avoid over-leveraging. Patience and discipline are key!
? Recent Price Action: Bitcoin has been in a downtrend, forming lower highs and lower lows. However, a downtrend trendline has been broken, signaling a potential reversal or at least a relief rally. ? Key Observations: Fibonacci Levels: The price recently bounced from the 0.618 Fibonacci retracement level (~$81,051), a strong support zone. Support Zone (~$82,325 - $83,700): Price is currently testing a previous resistance-turned-support level. Liquidity Grab & Rebound: If BTC holds above $83,700, we could see a bullish push. ? Potential Bullish Scenario: If Bitcoin maintains support above $83,700, it could retest $86,500 - $89,500, aligning with key Fibonacci extension levels. A strong break above $89,500 could push BTC toward the $91,000 - $92,500 supply zone (marked in blue). ⚠️ Bearish Risk: Losing the $82,325 support could lead to another retest of the $79,000 level. A rejection at $86,500 - $89,500 could bring consolidation before a clearer trend emerges.
I take a look at the SPX on different timeframes and check levels, oscillators and momentum. I think we are heading to a correction of around 12% from ATH if 5800 is broken in the coming days.
Just looking at this simple price action, EURCAD is about to breakout. I will be look for buy entry in lower timeframe in the coming trading week
Key Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Breville Group Ltd Stock Quote - Double Formation * (Diagonal) At 25.800 AUD | Completed Survey * Trendline Crossing | Entry Feature & Long Support | Subdivision 1 - Triple Formation * ABC Flat Feature | Short Term Bias | Subdivision 2 * ((No Trade)) & Retracement Area | Subdivision 3 * Daily Time Frame | Trend Settings Condition - (Hypothesis On Entry Bias)) * (Downtrend Argument)) & No Pattern Confirmation * Ongoing Entry & (Neutral Area)) Active Sessions On Relevant Range & Elemented Probabilities; European-Session(Upwards) - East Coast-Session(Downwards) - Asian-Session(Ranging) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Sell
This is clearly bullish as the RSI of TRNR has broken its previous high and is going to enter the overbought territory on massive volume. The Breakaway gap has happened to continue with bullish momentum. An interesting one to watch for a possible moonshot
? Bitcoin is expected to fall further! 1. Current market scenario: ✅ Bitcoin is currently trading at $84,975. ✅ The price has turned down from the $100,000 - $110,000 resistance zone. ✅ It has tested the $84,000 - $85,000 support zone, but there is a strong chance of further decline. 2. Key levels to watch: ? Breakout level: $78,953 → A break below this level could lead to further declines. ? Target level: $69,978 → Strong support zone. ? Retracement zone: $85,000 → If the price is rejected here, it could be a selling opportunity. 3. Possible trading strategies: ? Sell entry: • If Bitcoin closes below $78,953, a short-term trading opportunity will emerge. • Confirmation: Strong red candle or rejection at resistance. ? Target Levels: • First target: $75,000 (nearest support). • Second target: $69,978 (major support). ❌ Stop Loss: • If a short position is entered on a breakout of $78,953, the ideal stop loss would be between $82,000 and $83,000. • Avoid setting a tight stop at $85,000 as a false breakout could occur. ⚠️ Risk Management: • If Bitcoin breaks above $85,000 and holds, it could make another attempt at a bullish move. • Large traders could target buys near $70,000 for a potential rebound. Conclusion: ✅ Bitcoin is showing bearish momentum and could fall further if the $78,953 support is broken. ✅ The price may drop to $69,978 in the coming days. ✅ Use a stop loss of $82,000-83,000 to avoid getting caught in a false breakout.
Bullish Gartley ARM Arm Holdings As always, an idea that needs further multiple confirmations.
How I see it: (This is a long-term investment gauge, NOT for "Intraday Trading" per say) Potential LONG Positions for the next 4 YEARS! 1) BUY @ 75500.00 2) BUY @ 70500.00 3) BUY @ 66400.00 Thank you for taking the time to study my analysis.
Please see it on 5 min to see the final proper markings on it