EURUSD is in downtrend with freefall. It may fall till the support.
Here on Dogeusd price has form a demand zone around level of 0.24294 which is likely to continue going up so trader should go for long with expect profit target of 0.32175 and 0.39750 . Use money management
Determining a trend line in trading is a fundamental skill used to identify the direction and strength of a price trend. Here's a step-by-step guide to drawing and interpreting trend lines: 1. Understand the Basics of a Trend Line A trend line is a straight line that connects two or more price points on a chart, extending into the future to act as a line of support or resistance. Uptrend Line: Connects higher lows in an upward trend (acts as support). Downtrend Line: Connects lower highs in a downward trend (acts as resistance). Sideways/Ranging Market: Price moves horizontally, and trend lines may not be as effective. 2. Identify Key Price Points For an uptrend, identify at least two higher lows (swing lows) and draw a line connecting them. For a downtrend, identify at least two lower highs (swing highs) and draw a line connecting them. The more times the price touches the trend line without breaking it, the stronger and more valid the trend line is. 3. Draw the Trend Line Use a charting platform to draw the line manually. Connect the swing lows for an uptrend or swing highs for a downtrend. Ensure the line is not too steep or too flat; it should reflect the natural slope of the price movement. 4. Validate the Trend Line A valid trend line should be touched by price at least three times. The more touches, the more reliable the trend line. If the price breaks the trend line significantly, it may indicate a potential trend reversal or weakening of the current trend. 5. Use Trend Lines for Analysis Support/Resistance: In an uptrend, the trend line acts as support. In a downtrend, it acts as resistance. Breakouts: A break below an uptrend line or above a downtrend line may signal a trend reversal or continuation, depending on the context. Trend Strength: A steep trend line may indicate a strong trend, while a shallow one may suggest a weaker trend. 6. Combine with Other Tools Use trend lines in conjunction with other technical indicators (e.g., moving averages, RSI, MACD) to confirm trends and potential entry/exit points. Look for volume confirmation: Increased volume during a breakout or bounce off the trend line adds validity to the signal. 7. Adjust as Needed Trend lines are not static. As new price data comes in, you may need to redraw or adjust the trend line to reflect the current market conditions. Example: BTC has touched the line that I've drawn multiple time so It is a reliable Bullish Trend line. The next Possible connection can be around 93.5k! the line also acts as a support. By mastering trend lines, you can better identify potential trading opportunities and manage risk effectively. Always practice on historical data and use proper risk management techniques.
? STAY ALERT? #Bitcoin has closed one more daily candle below the Point of Control (POC), which conforms to a potential bearish trend ahead towards the lower levels. Stay tuned and follow for more updates.
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gold has rallied more than 1 year due to russia ukraine ongoing war. countries have bought physial gold comparatively higher qty in last two years. every 4 years commodity cylce will see a sharp decline. my analysis says gold if not cross 3000 mark. every up move will be a shorting oppurtunity for a price correction upto 2400 to 2380 us dollar per ounce for medium term view tat is feb end to june 25. looking at US markets even sp index too in overbought zone which has rallied continously for 2 years. gold rallied too much from 2022 to oct 2024. price correction and time correction is enivatable in gold since proper correction not seen after 4 years of rally. all indicatiors envelope rsi are in overbought zone. price has touched 2870 twice which will be double top and once agiain it might touch the same level making triple top.
ETHUSDT Strong support on 2000 zone as spotted in this neckline. As ETH is falling for last couple of days the IV is high on the strike. Putting a Buy stop at that point as well in case it touches that. Note - Shorting 2000PE means bullish idea.
Technical Analysis wise, we observed a sweep above 32.5 but bulls did not able to sustain the 32.5 above level which leads to a downward movement. We expect a continuation of price fall on the next session towards key level support of 30.9-31.0.
As can be seen from the chart, the price of Bitcoin is currently in an upward channel, and the overall trend is bullish. In the past few months, the price has fluctuated between the upper and lower rails of the channel many times, showing a relatively healthy technical correction and trend continuation dynamics. Analysis of support and resistance levels: Currently, the intersection of the lower rail of the channel and the trend line forms a key support area, around $91,500-92,000. This support has pushed the price to rebound after being touched twice in the past. The main resistance above is at $106,600 and $107,500, which are key points that the price has repeatedly tested but failed to break through effectively. Short-term possibilities: At present, the price of Bitcoin is close to the lower rail of the channel and is gradually approaching the support area. From the technical chart, the price may rebound after stabilizing in the support area, with the target pointing to the middle line and upper rail area of the channel. If the strong resistance of $107,500 is broken, the price is expected to further test the $120,000 mark. Potential risks: If the price fails to hold the support of $91,500, it may trigger a further correction in the market, with the target possibly pointing to the $80,000 area. Considering that the long-term upward trend line is still intact, even if there is a decline, it may provide new entry opportunities for medium- and long-term investors. Trading strategy suggestions: Short-term long: Pay attention to the rebound signal of the price in the $91,500-92,000 area, set the stop loss below $90,000, and the target price is above $100,000. Breakout follow: If the price breaks through $107,500, you can try to chase more, with the target set at $115,000-120,000. Short opportunity: If it falls below the trend line support, it is recommended to pay attention to short opportunities, with a target price of around $80,000. Overall, Bitcoin still has great potential in the upward channel, and the short-term trend depends on the offensive and defensive situation of key support and resistance. Investors are advised to pay close attention to market dynamics and adjust strategies flexibly.