The Relative Strength Index (RSI) is showing a downward trend, indicating weakening momentum. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bearish crossover, further supporting the potential for a downward move
SEI is an altcoin that bounces well from support zones and therefore excellent to trade as a swing trade. You can confirm that SEI bounces from support zones by taking a look at this post I made in August last year, just before SEI increased 232%: https://www.tradingview.com/chart/SEIUSDT/LbVq1fwf-SEI-Best-BUY-BACK-Zones-Approaching/ For the short term, there seems to be no clear indication of a turnaround, but the good news is that a better buy zone is approaching for the next impulse wave up - which could be a really big swing. _____________________ BINANCE:SEIUSDT
NASDAQ:QQQ Today’s Trading Range, y’all Alright so options have today’s expected move between 521 to 533. Sorry I’ve got to post and run today without much commentary but I know y’all got this!! Lets gooooo….
In-Depth Analysis of the Bitcoin (BTC/USD) Chart This 4-hour Bitcoin chart from TradingView includes various technical indicators, patterns, and potential price movements. Let’s analyze it in detail: --- 1. Chart Overview & Indicators Trading Pair: Bitcoin (BTC) / U.S. Dollar (USD) Timeframe: 4-hour chart Exchange Data Source: OANDA Price at the Time of Chart: $98,274.2 Price Change: +1,279.8 (+1.32%) Technical Indicator Used: Supertrend (10,3) Red Supertrend (Above Price) → Bearish Signal (Down Trend at ~$98,274.2) Green Supertrend (Below Price) → Bullish Signal (~$95,000 as potential support) --- 2. Key Price Levels Support Area: $90,000 - $95,000 This is highlighted as a blue zone. BTC has bounced from this area previously, making it a strong demand zone. Resistance Area: $105,000 - $110,000 Marked with a yellow box. BTC faced multiple rejections in this area before dropping. --- 3. Technical Patterns Observed A. Descending Triangle Formation (Red Trendline) The price is forming a descending triangle, characterized by lower highs and a flat support level. This is often a bearish pattern, but a breakout can occur in either direction. Breakout Scenarios: Bullish Breakout: If BTC breaks the upper trendline resistance, it may surge toward $105,000 or higher. Bearish Breakout: If BTC falls below the triangle, it could drop toward the support zone (~$90,000 - $95,000). --- 4. Breakout Projection & Trading Strategy A. Breakout Arrows (Black, Blue, Green) Blue Arrow: Indicates a possible breakout above the descending trendline. Black Arrow: Suggests a move toward $105,000 resistance if the breakout is confirmed. Green Arrow: If BTC surpasses $105,000, it may continue rallying higher, possibly toward $110,000+. B. Bullish Trading Strategy Entry: Buy when BTC breaks above the descending triangle (~$99,000 - $100,000). Target: $105,000 - $110,000 (resistance zone). Stop Loss: Below $95,000 (support zone). C. Bearish Trading Strategy Entry: Sell if BTC fails to break out and falls below $95,000. Target: $90,000 or lower. Stop Loss: Above $98,000 (previous resistance). --- 5. Supertrend Indicator Analysis Currently Bearish: The Supertrend indicator is red, meaning BTC is in a downtrend. Bullish Reversal Possible: If BTC moves above $100,000, the Supertrend might turn green, signaling an uptrend. --- 6. Summary & Market Sentiment BTC is currently in a short-term downtrend but approaching key support. A breakout above $100,000 could trigger a strong bullish rally toward $105,000 - $110,000. Failure to hold above $95,000 may lead to further downside toward $90,000. Traders should watch for confirmation of a breakout before entering positions.
? OM/USDT Technical Analysis 1️⃣ Price Trend ? ✅ OM/USDT has been in a strong uptrend, reaching new highs. ✅ The price is currently near a key resistance zone, marked by Fibonacci levels (see the provided chart). ✅ Elliott Wave count suggests the final leg of an impulse wave (Wave 5), indicating a possible local top soon. 2️⃣ Volume Analysis ?? ? Trading volume has seen periodic spikes, indicating strong interest from traders. ? Increased volume on green candles suggests that buyers are still in control. ? A sudden drop in volume while the price is rising may indicate buyer exhaustion. 3️⃣ MACD Analysis ?? ? MACD is above the signal line, which is a bullish signal. ? A continued divergence between MACD and price could be a warning sign for a potential correction. ⚠️ If MACD starts flattening or turning downward, a reversal could be imminent. 4️⃣ RSI Analysis ? ? RSI is within the normal range, meaning there is no immediate overbought or oversold condition. ? A move above 70 RSI would indicate an overbought market, increasing the risk of a pullback. ? A drop below 50 RSI would signal weakening momentum. ? Conclusion & Trade Plan ? Bullish Scenario (Breakout) ✅ If OM/USDT breaks above key Fibonacci resistance levels, it could continue toward 8.20 USDT or even 10.02 USDT. ? Bearish Scenario (Pullback) ⚠️ If price fails to break resistance and MACD starts declining, we could see a retracement toward 6.77 USDT or even 6.33 USDT. Key Levels to Watch ? ? Support: 6.77 USDT, 6.33 USDT ? Resistance: 8.20 USDT, 10.02 USDT ? Elliott Wave Analysis for OM/USDT ? Wave Structure Overview ? The current Elliott Wave count suggests that OM/USDT is in the final impulse wave (Wave 5). ? This means that the price is nearing a potential peak before entering a corrective ABC pattern. ? The market has seen a strong upward trend, aligning with Fibonacci extensions. ? Key Observations ? Wave 1-2-3-4-5 Structure ✅ The price action has followed a classic 5-wave Elliott structure, with Wave 3 being the strongest. ✅ Wave 4 was a retracement, creating a higher low before Wave 5. ? Wave 5 Target Levels (Fibonacci Extensions) ? 6.77 USDT - This is the 1.0 extension level, which has already been tested. ? 8.20 USDT - The 1.236 Fibonacci extension, a potential target if bullish momentum continues. ? 10.02 USDT - The 0.618 extension, marking an extreme target if the wave extends further. ? Potential Correction (ABC Structure Incoming?) ⚠️ If Wave 5 completes, we should expect a corrective ABC wave to form. ⚠️ The key support levels for this correction are 6.33 USDT (0.382 retracement) and 5.80 USDT. ? Trading Strategy ? Bullish Scenario ? ✅ If price breaks 8.20 USDT, it can extend to 10.02 USDT. ✅ Momentum traders should look for volume confirmation before entering. ? Bearish Scenario ⚠️ ⚠️ If rejection happens around current resistance, a pullback to 6.77 USDT - 6.33 USDT is likely. ⚠️ If MACD starts weakening, it could signal the beginning of an ABC correction. ? Final Takeaway ? ✅ OM/USDT is in a strong Elliott Wave 5 uptrend with a potential target of 8.20 - 10.02 USDT. ✅ If momentum weakens, an ABC correction could follow, pulling price back toward 6.33 USDT. ✅ Traders should monitor MACD, RSI, and volume behavior to anticipate the next move. ? Short Opportunity Coming Soon! ? ? OM/USDT is nearing the final stages of Wave 5, which signals a high probability of a short opportunity in the coming days. ? Key indicators like MACD, RSI, and Volume suggest that bullish momentum may be weakening. ? If the price fails to break above 8.20 USDT and MACD starts turning downward, a sharp correction (ABC pattern) could follow.
I would like to take a shirt at the level with 15 pip stop loss and a target of 90 pips reward, this week we are currently up 170 pips, see if we can get some more pips! before the end of this week
another oversold penny stock but this one seems to be pending bankruptcy filings. Ichimoku system shows possibility of reversal. It could close the gap to 0.5 or go a bit further.
Hey Traders, in today's trading session we are monitoring USDJPY for a buying opportunity around 151.500 zone, USDJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 151.500 support and resistance area. Trade safe, Joe.
SP:SPX Today’s Trading Range, y’all Alright so options has today’s trading range quite small, just .66%. And these are the levels going through it. Those of you that have been following for a while know exactly how to read this so I’m going to leave it at that since I’m a little pressed for time this morning!! Watch that 35EMA at the 30min 200MA, it could pull us down… MY POSITION IRON SPYDER @ 6005/6015/6050/6055/6090/6100
Going long in the box. I am not going to give an explanation. I have been waiting forever for this entry.