? Welcome to TradeCityPro! Today, I'll analyze the cryptocurrency CRV from the Curve project, a decentralized exchange (DEX). ? Weekly Timeframe We observe a trading range from $0.3903 to $1.2502. The price once dipped below this range to $0.2237 before rebounding, and it has now reached the upper boundary again. ? Breaking the resistance at $1.2502 could signify an exit from the accumulation zone, potentially propelling the price toward higher resistances. The key weekly resistance is $6.1038, which is the all-time high, but intermediate resistances exist at $1.8428 and $2.8814. ? The market volume became bearish after reaching $1.2502, aligning with a market correction. The RSI has reset from the overbought region, ready to display new momentum as the market structure evolves. ? If selling pressure enters the market and the price breaks below the $0.3903 support, it might suggest the previous uptrend was merely a dead cat bounce, preparing for a drop to new lows. https://www.tradingview.com/x/2tVp10Ew/ ? Daily Timeframe More details of the bullish run can be observed here. As mentioned, the price has reached up to the $1.2502 resistance and has entered a corrective phase. ✨ The correction established a floor at $0.7942, coinciding with the 0.236 Fibonacci level, though this support has now been breached. The price is forming a descending trendline, moving toward lower support levels. ? The first minor support is the 0.382 Fibonacci level, not strongly backed by static price supports. The main supports are at $0.4970 and $0.3490. ?In my view, breaking below $0.4970 would necessitate a new upward structure aiming back towards the range's ceiling. Conversely, a break below $0.3490 would end the bullish trend completely. A break below $0.2237 would initiate a bearish phase in the High Wave Cycle. Breaking below 30 on the RSI would further confirm the bearish trend. ? If the price rebounds above $0.7942 and negates the current downward trend, we could consider a long position following a break of the descending trendline. The target would be modest, aimed at the top of the current box. The critical trigger for a long position remains the breach of $1.2502, a strong indicator for the start of a new bullish leg. ? Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
4 Weeks Backtest Monthly Reference Day: 9/1/2024 Reason for it: Break of an uptrend The downtrend kept strong every Wednesday in January
After gapping down last week, we consolidated for the remainder of the week and successfully filled the gap. February is likely to be a bearish month. There’s a possibility that a double top has formed, and if we fail to break last week’s high while dropping below 600, a sharp decline could follow. Key support levels to watch if SPY moves lower next week: 595 575 567 (a break below this level makes 540 highly probable).
Hello traders, As we roll into these next upcoming weeks, especially with the most recent news on tariffs, I feel the need to share my thoughts. First and foremost, let's talk about the story. After the inauguration, markets ran up. The S&P followed a narrow upward channel and it broke on Friday, giving signal that some kind of news was bound to come out the following Monday... and it did. Boom. DeepSeek comes out of nowhere, wiping 600 billion from NVDA's market cap and SPY takes a 12+ point dip. There's a saying I heard from a trader; "It's the tail that wags the dog." as in, it's the price action that drives the news in some situations. More than not. Now, let's talk resistance. NVDA struggled around the 150 range time and time again. Charting back to my old "sticky note zone" around 114-116, there is a potential bounce. After that, just below, 111 is going to be a nice spot too. Personally, I'd like to see 95-97 before going long on calls, but the bounce will be handled in a real-time situation. Likely, when SPY decides it's had enough and they rip it back towards the upside. I'm predicting this with about 50% technicals and 50% experience. Key advice is to be patient and wait for a definitive bounce. Better to jump in late before jumping in early. Happy Trading!
BTC's Resistance and Support Levels Resistance: 104K Immediate Weekly Support: 98K I won't call a bear market until we see prices drop to 94K—and most importantly, to 90K. BREAKING BELOW 90K, I WOULD BE READY TO CALL A BEAR MARKET! Currently, BTC is consolidating between 94K and 104K, which is exactly what I've been hoping to see. I was also expecting that this consolidation phase might spur a rally in altcoins, but so far, that hasn't happened. As I mentioned in my Telegram group, this consolidation is necessary. If BTC breaks above 104K, the bulls might run out of capital to continue pushing prices upward, which could weaken the rally. Conversely, a breakdown toward 94K signals that the bears are ready to take full control. I'm optimistic that the BTC.DOM chart will experience a significant decline soon, providing the momentum that altcoins need to surge. For more insights, be sure to check out my other BTC.DOM chart.
"I've analyzed Litecoin's price behavior for the next three months. In my view, the intersection points of the trend lines on April 2nd and May 9th suggest a likely price correction toward these lines." #LTC
DXY Jan 29 Analysis-back testing log Price completes trading/rebalancing inside a HTF FVG. Price rallies to rebalance a Hourly FVG from Jan21. Asia Price is delivering to a discount. London 2022 model, Price comes down takes out recent key sell side liquidity rallies to MOG and launches to the 50. 2 macro starts the rally an hour of heat 4 macro price seeks the FVG coming to the edge teasing me. Small consolidation expected after a big rally and choppy. NY-7;15 takes buy side liquidity and 8 macro pumps to the FVG setting up for retracement. 9 macro Price retraces the inefficient price from London and stops just shy of the .79 Note-previous day was high resistance pattern, where as this day was low resistance-THESES ARE THE DAYS TO TRADE. Note-When Price has big gaps like this its tipping its hand that its going rip. Seen this pattern enough times to start to trust it.
Analyzing BTC.DOMINANCE I am observing a doji candle forming on this week’s chart, which could indicate that the top is in for BTC.D and that we might start seeing a decline within the next 1 day and 11 hours. For altcoin trading to become viable, BTC.D needs to drop toward 56%. I lean toward the view that BTC.D will begin to fall and that altcoins will gain strength within the next 1–2 days. However, if BTC.D regains strength, it could rise toward 60%, which would likely cause altcoins to continue falling, making them harder to trade. We are the mercy of BTC.D, so that's what we need to keep our eye on!
Chart Feedback(Daily Time Frame) Gold King of the week with a new ATH. The last hours of the day take profits take place increasing the supply and ending with inverse hammer daily candle. Monday and Tuesday will indicate the weekly direction. I expect the price to continue to rise, but a correction is highly possible too. Key Levels (4 Hour Time Frame) On the down side : -2780 (previous resistance now support) -2730 LWL (last week low) On the upper side: -2817 (new ATH) Trend Scenarios and Trade Ideas (1 and 4 hour time frame) Long: The main and sub-trend are in line I will be looking for buy signals until the sub-trend line is broken. The price has been obeying on Engulfing candles and U-Turns, targets 2840 and 2860. Short: I will be looking to sell only if the price goes below 2780 and makes a new LH, or as I like to call it CTR (cross, test, reject). I want to see the price crossing 2780 from above then come back to test the new resistance and reject. Target LWL(last week low) and 2700 level. Thank you for reading Have a profitable week Any feedback is welcome https://www.tradingview.com/x/807ABO4Q/ https://www.tradingview.com/x/6yOYUwsF/
BINANCE:TRXUSDT market is currently making higher highs and higher lows. However, it continues to oscililate around the key level at 0.2500. On the weekly timeframe, the price action is within a consolidating zone, meaning it is trading within the previous weekly range. As the price has now reached the top of this consolidation zone, there is a potential for a reversal. Given this context, I expect the market to move lower from this level, as it hits resistance at the top of the consolidation zone and channel border. My goal is support level at 0.2450 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad ??