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Fibonacci Retracement

GOLD → Countertrend correction. Where will growth begin?FX:XAUUSD faced pressure in the 3430 zone, traders moved into profit-taking mode, triggering a correction. The price entered the sell-off zone... On Thursday, gold is trading below $3400 as traders assess progress in US-EU trade talks and await preliminary PMI data from the US and the EU. These indicators could influence expectations for Fed and ECB rates. Optimism is being bolstered by reports of trade agreements between the US and Japan and other countries. The ECB is expected to keep rates unchanged, while the probability of a Fed rate cut in September is estimated at 60%. Investors are also watching Trump's conflict with Powell amid his visit to the Fed. Technically, the daily market structure is not broken, and a correction is forming within acceptable limits. Based on the current direction, the market may test the intermediate bottom: trend support, the 3345-3320 area. Resistance levels: 3375, 3383, 3400. Support levels: 3345, 3320 A retest of resistance at 3375-3383 is possible. If the bears keep the price below this zone, the metal may continue its correction phase towards the zone of interest indicated on the chart. Local sell-offs have not yet broken the bullish daily structure. However, the absence of a downward impulse and consolidation in 3375 - 3383 with a subsequent breakout of local resistance could increase demand again, which would generally lead to premature growth to 3400 - 3435. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
15
BTC/USD 4H Chart Review📊 Technical Structure (Symmetrical Triangle) Formation: The symmetrical triangle (orange lines) remains intact—price continues to move within it. Approaching the apex: The closer to the intersection of the triangle's arms, the greater the probability of a breakout. The current candle is testing the upper boundary of the formation (around $119,300), but has not yet broken it. Direction: The formation is neutral, but tension is increasing. A breakout of either line (the upper boundary ≈$119,500 or the lower boundary ≈$117,700) could trigger a dynamic move with a range of around $3,000 (the height of the triangle at its widest point). 🧱 Support and Resistance Levels (Red and Green Lines) Type Level (USD) Description Resistance 123205 All-Time High – Possible Target After an Upward Breakout Resistance 120556 Local Resistance – Triangle Breakout Range Resistance 119200–119300 Currently Tested Level Support 117752 Lower Triangle Boundary – Critical Defense Line Support 115764 Next Local Support 📈 Technical Indicators 🔵 RSI (Relative Strength Index) Currently: ~55 – indicates a neutral situation, having broken down from the overbought level (~74). Indicates that the market has temporarily cooled down after a previous impulse. There is still room for further upward movement without exceeding 70. 🔵 MACD The MACD and signal lines are approaching a crossover – if the MACD crosses the signal line upward, it could be a bullish signal. The histogram is slightly positive – indicating weak but growing bullish momentum. 📊 Volume Slightly increasing in the last candles – no confirmation of a strong breakout yet, but upward pressure is building. 🧠 Interpretation Scenario Technical Conditions Movement Objective 🔼 Upward Breakout Candlestick close above $119,500 USD 122,000–$123,200 USD 🔽 Downward Breakout Close below 117,750 and confirmed by volume at 115,700, then 114,000 USD 🔄 Consolidation Inconclusive, continued sideways movement Between $117,700 and $119,500 USD ✅ Summary Bitcoin is still in a neutral symmetrical triangle formation but is approaching a turning point. The RSI has broken out of the overbought range, and the MACD is signaling a potential upside breakout. Volume confirmation is still lacking, but technical conditions favor the bulls – if it manages to break above 119,500 and hold above, a move towards 122,000–123,000 USD can be expected. In the event of a rejection, maintaining 117750 will be key; breaking it opens the way to 115700 and below.
INDEX:BTCUSD
by cryptodailyuk
XAUUSD - Bullish Direction BiasThe Gold USD market on the 15-minute timeframe shows a notable downtrend followed by a retracement phase. The price is currently moving in a potential reversal structure with key areas marked as possible retracement or continuation points. The chart highlights multiple potential support and resistance zones, indicated with small orange boxes, which mark anticipated areas for price reactions during the expected short-term moves. The trading plan anticipates price to move upward towards these intermediate zones sequentially, with each zone acting as a minor resistance before price attempts to continue its bullish retracement. After reaching the higher target zone near 3424, a reversal or new wave is expected to unfold, potentially resuming the downtrend. This plan emphasizes careful monitoring of price action at these key zones to confirm reversal or continuation signals. Traders should look for confirmation signals like pin bars, candle patterns, or volume clues at each zone before entering the trade. Risk management involves setting appropriate stops beyond these resistance zones to protect against false breakouts or sudden trend changes. This approach uses a combination of technical levels, price action confirmation, and careful zone analysis to guide trading decisions in a fast-moving market.
VANTAGE:XAUUSD.TVLong
by famousone_chn
ARTYUSDT → A breakout of resistance could trigger another rallyBYBIT:ARTYUSDT is forming a cascading bottom as part of consolidation before a possible breakout of resistance. The decline in Bitcoin's market dominance gives altcoins a chance. ( (Idea from September 29, 2024!) We previously discussed this coin before its 300% rally. The root causes of its emergence from accumulation and readiness for strong growth were correctly identified). The dump phase is coming to an end, a cascading market bottom is beginning to form, and a pre-breakout base relative to the triangle resistance is forming, which overall hints at a bullish behavior pattern. Bitcoin is currently consolidating after the rally, and the Bitcoin dominance index is declining, which generally indicates a flow of funds into altcoins. The situation is such that the altcoin market has another chance for the season. The correction across the entire market may end in the near future, and under favorable conditions (the fundamental background is strengthening, Trump has announced another important event for cryptocurrencies), the market may return to strong movements... The focus in ARTY is on the intermediate resistance at 0.1770 and the consolidation resistance at 0.2368. Consolidation above this range could trigger a rally. Resistance levels: 0.2368 Support levels: 0.1235 Technically, a few days ago, the coin tested the consolidation resistance, but the decline did not continue, which generally indicates that buyers are showing interest and holding the market. Consolidation in the near term may end with a retest of 0.1770, 0.2368, a breakout, and further growth. Best regards, R. Linda!
Long
by RLinda
3
SOL CRUSHING-bearish risks developing🔻 4-Hour Bearish Thesis 🔸 Price Action Clues SOL is currently stalling at the 0.5 Fibonacci retracement (~$198.18) of the full macro move — a classic profit-taking zone. Multiple upper wicks and indecisive candles at resistance indicate supply absorption and buyer exhaustion. After a steep rally, price is moving sideways in a rising wedge/flag, which is a bearish continuation pattern if broken downward. 🔸 Momentum + RSI RSI at 76 is extended and flattening — often a zone where short-term pullbacks begin. No confirmed bearish divergence yet, but momentum is weakening compared to earlier stages of the rally. 🔸 Volume Profile Volume on recent pushes is lower than during breakout, suggesting diminishing bullish conviction. Bearish if a breakdown below $194 occurs — that's the former breakout level and wedge support. 🧨 4H Breakdown Confirmation Break below $194 (key short-term support) → opens downside targets: 🔻 $186–$182 (prior breakout base) 🔻 $171 (0.382 Fib retracement zone) 🔻 Daily Bearish Thesis 🔸 Price Action + Key Zone Price is pressing against the neckline target ($198.18) of the inverse H&S pattern. Stalling under the red resistance line and 0.5 Fib. Recent candle closed with a small upper wick + reduced body size, hinting at hesitation after a parabolic run. 🔸 RSI Risk RSI is at 80.41 — very overbought on daily. While not immediately bearish on its own, this often precedes either: Sharp correction, or Prolonged consolidation 🔸 Fibonacci & Macro Resistance $198–$200 is a confluence zone of: 0.5 Fib retracement Previous structural resistance Measured target of inverse H&S pattern ALREADY HIT. This is not a great spot to initiate new longs — any weakness here invites a pullback. ⚠️ Invalidation of Bearish Thesis A strong daily close above $200–$204, ideally with expanding volume, would invalidate the bearish outlook and shift momentum toward $219 (0.618 Fib). 🧠 Summary: Yes, there is a short-to-mid-term bearish risk developing on both 4h and daily: Overbought RSI Stalling at major Fib resistance Decreasing momentum Vulnerable if $194–$195 breaks Remember: this WILL MOST LIKELY BE A SHORT-SHORT pullback, not a confirmed trend reversal… yet. BUT I'VE INITIATED A STARTING POSITION! THIS IS NOT FINANCIAL ADVICE. DrAnkin Smöökëē Whizkee. Edumacational Purpiz Only!
Short
by TheAlphaView
Revsiting $150k - $200k Bitcoin (AND Next Bear Market Bottom)In this video I revisit my 2-year old study showing the potential path for Bitcoin to $150k to $200k and not only how we might get there, but the 11 reasons WHY we can this cycle. This is the same Fibonacci series that predicted the 2021 cycle high at the 3.618 (Log chart) and used the same way this cycle, with some interesting 2025 forecasts of: 1.618 - $100k 2.618 - $150k 3.618 - $200k There are quite a few confluences that we get to $150k like the measured moves from both the recent mini bull flag, but also the larger one from earlier this year. ** Also I touch on revisiting my study from 2 years ago where I may have discovered the retracemebnt multiple that correctlty predicted and held the 2022 lowes around $16k. ** It's a VERY interesting number you all will recognize (buy may not agree with). Let me know what you think.
COINBASE:BTCUSDLong
by BrettFogle
1
GOLD → Consolidation before the next jump to 3450?FX:XAUUSD continues to rally, with the price updating its local high to 3438 and moving into consolidation, possibly for another jump... After hitting a five-week high of $3,438, traders are taking a break. Optimism is fuelled by Trump's statements about the largest deal with Japan and negotiations with Canada, but uncertainty about the details of the agreements and political instability in Japan are keeping caution in check. The market is waiting for further signals on trade and political issues, which remain key factors for gold. Technically, the dollar continues to fall, which generally supports gold. But! Gold is approaching strong resistance at 3445-3450, where growth may be temporarily halted. Resistance levels: 3433, 3446 Support levels: 3416, 3401, 3375 As part of a local correction, gold may test consolidation support or 0.5-0.7f before continuing to rise. There are quite a few orders in the 3433-3446 zone, and it will be difficult to break through this area to reach the target. Consolidation before this level may help the rise to continue. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
24
BITCOIN → Consolidation and compression to 116K. Correction?BINANCE:BTCUSDT.P continues to consolidate, with the price testing support at 116K, leaving behind the zone of interest at 120K-121K. Are there any chances for further growth? (Alternative scenario (if growth to 120K does not occur)) Fundamentally, there is nothing particularly new, and the hype surrounding Bitcoin is stagnating. Technically, on D1, consolidation is underway with pressure from bears against the backdrop of an outflow of funds into altcoins. However, the dominance index is starting to rise, which could trigger some correction in the market. The price on the working timeframe, without updating local highs, is testing lows, and the latest retest of the liquidity zone is provoking a fairly aggressive reaction that could bring the price to retest the zone of interest at 120K-121K. But! If the price is squeezed between 116K and 0.5 Fib with a gradual squeeze towards support, the chances of a breakdown and a premature fall will increase. Support levels: 116370, 115860 Resistance levels: 119650, 120100 Technically, the market needs a breather or correction, which is generally a sign of health. The nuance with Bitcoin is that below 115860 there is no support until 112K, and if the market breaks the current consolidation boundary, the further correction could be quite deep. In the current situation, I do not yet see any drivers or reasons for another rally. Best regards, R. Linda!
Short
by RLinda
34
EUR/USD - Holding Bullish Structure Above Key Fibs and TrendlineTechnical Overview: EUR/USD continues to respect its ascending channel structure, currently rebounding from the lower trendline support while trading above the 50 EMA and 200 EMA. After a healthy retracement to the monthly support (1.16128), the pair has shown strong buying interest, supported by bullish RSI divergence from oversold conditions on the 8H chart. Key Levels: Support Zone: 1.1613 – 1.1634 (Fib Cluster + Channel Support + Monthly Support) Resistance Zone: 1.1755 (Weekly Resistance) followed by 1.1816 (0.27 Fib Extension) and 1.1887 (0.618 Extension) Invalidation Level: Below 1.1533 (1.272 Fib + Structural Breakdown) Confluences: Price broke above a descending correctional trendline, indicating a potential bullish continuation. Multiple Fibonacci levels (0.382, 0.5, 0.618) have stacked around the previous consolidation area, increasing probability of a sustained move. RSI bounce from below 40 suggests short-term momentum reversal. Trade Idea: We may see a minor pullback into the 1.16344–1.1659 area before a potential continuation higher. Conservative bulls may wait for a retest of this zone with a bullish engulfing or pin bar confirmation before entering long. Targets: First target at 1.1755 (prior weekly resistance) Second target at 1.1816 (Fib extension) Final target near 1.1887 (major resistance / upper channel boundary) Risk Management: A break and close below 1.1533 would invalidate the bullish setup and signal potential bearish pressure returning to the pair.
Long
by WrightWayInvestments
GBP/JPY 4H - Rejection from Supply Zone and Key Fib AreaOverview: GBP/JPY is trading near 197.91, and recent price action suggests a potential short opportunity. The pair has been rejected from a key Fibonacci resistance zone, and bearish momentum appears to be building beneath a fading ascending channel. Let’s break down why this chart leans more bearish. Market Structure Breakdown: * Price action failed to sustain new highs above 199.90 and is now forming lower highs, a potential early sign of trend exhaustion. * The recent bounce from 197.40 was muted and rejected near the 0.5 and 0.618 retracement levels, indicating strong supply around the 198.68–198.98 zone. Fibonacci Confluence: * The rejection occurred right at the 0.618 retracement of the prior downswing — a key Fibonacci level often used by institutional traders to re-enter in the direction of the trend. * Price is now hovering below the 0.382 (198.38) and 0.5 (198.68) levels, which may now act as resistance. * If the current rejection holds, downside targets are: * 0.0 (197.40) – recent low * -0.27 extension (196.70) – potential bearish continuation target * -0.618 extension (195.81) – extended downside objective Trendline & Channel Considerations: * The ascending channel is losing momentum. Moving Averages: * Price is now below the 50 EMA, and testing the 200 EMA, which is at risk of breaking. * A clear close below both EMAs would confirm bearish momentum. RSI & Momentum: * The RSI shows bearish divergence on recent highs and is struggling to break above the midline (50). * Momentum is tilting to the downside and failing to build higher on bounces. Key Zones: * Resistance Zone: 198.60–198.98 * Strong Fibonacci confluence + previous supply * Support Zone: 197.40 * Prior swing low and 0.0 Fib level * Bearish Continuation Zone: Below 197.30 * Breakout would confirm downside acceleration toward 196.70 and 195.80 Conclusion: GBP/JPY is showing signs of bearish pressure beneath key resistance. With the rejection from the 0.618 Fib level and weakening channel structure, the path of least resistance may be to the downside — especially if price breaks and holds below 197.40. A confirmed breakdown opens the door toward 196.70 and possibly 195.80, as bearish continuation unfolds. Overall we can even see price hitting past historical levels at 189.50
Short
by WrightWayInvestments
The US100-Nasdaq Playbook: Prime Sell Zone Approaching!Hey friends 👋 I’ve prepared a fresh US100-NASDAQ analysis for you all. Nothing makes me happier than seeing us grow and profit together. 📌 Once price reaches the 23,192 – 23,231 zone, I plan to enter a **Sell** trade from that area. 🔐 Feel free to set your stop-loss based on your personal margin and risk tolerance. 🎯 My target level is: **23,024** Every single like from you means the world to me—it’s my biggest motivation to keep sharing high-quality analysis 🙏 Huge thanks to everyone who supports with their likes 💙
OANDA:NAS100USDShort
by TraderTilki
8
USDJPY → Hunting for liquidity before the fallFX:USDJPY is changing its local trend and succumbing to global pressure. The market is seeing a change in price movement following the decline in the dollar index... The trend has broken and the price movement has turned bearish. The fall in the dollar index is allowing the Japanese yen to strengthen, which is generally negative for the currency pair. The decline may continue after a slight correction. Fundamentally, the dollar is correcting amid uncertainty due to the tariff war, as well as expectations of interest rate cuts. Resistance levels: 147.20, 147.89 Support levels: 145.85, 145.23 As part of the correction, the price may test the liquidity zone of 147.7 or 0.7f. A false breakout and consolidation of the price in the selling zone may trigger a further decline in both the short and medium term. Best regards, R. Linda!
Short
by RLinda
10
SOLUSDT 1H Short-Term🔍 Technical Structure: Short-Term Trend: SOL is currently in an uptrend, with local higher lows. This is evident from the orange uptrend line, which has been tested multiple times. Local Resistance: 205.14 USDT – yellow line – a resistance level that the price has touched several times but failed to break (this could be a double-top formation). Local Support: 198.48 USDT – the price is currently testing this level as support. 194.36 USDT – lower, more crucial support (stronger upon a trend breakout). 187.74 USDT – important support that would be tested in the event of a larger breakout. 📉 Oscillator – Stoch RSI: The Stoch RSI is currently in oversold territory (below 20), suggesting the possibility of a local rebound. However, there has been no upward crossover yet, so there is no strong buy signal. 🔊 Volume: We are observing a decrease in volume during the current correction, suggesting that the declines are relatively weak – there is no strong supply impulse. 🧠 Short-term scenarios: ✅ Bullish scenario: Price is rebounding from the trend line (orange) and the 198.48 USDT level. A break of the 205.14 USDT resistance could open the way to: 209.37 USDT 216.02 USDT (next target) ❌ Bearish scenario: A break of the trend line and the 198.48 USDT level with the 1-hour candle closing below. Possible decline to: 194.36 USDT (first support) and further to 187.74 USDT if selling pressure increases.
by cryptodailyuk
1
GOLD → Correction before continuing the rally to 3450FX:XAUUSD updates its local maximum to 3401.5 and enters a consolidation phase ahead of news. The dollar correction gives speculators a chance... The price of gold is correcting from 3400. The reason is profit-taking ahead of Powell's speech at 12:30 GMT and waiting for clarity on US trade negotiations with the EU and Japan before August 1. Gold remains sensitive to the progress of negotiations and the dynamics of the dollar, which is weakening amid political uncertainty, declining yields, and pressure on the Fed from Trump. Technically, after exiting consolidation and retesting 3400, the price is entering a local consolidation phase. Focus on key levels: 3401, 3382, 3375. A false breakdown of support could trigger a recovery phase. Resistance levels: 3402, 3393 Support levels: 3382, 3375, 3362.75 The distribution phase has been halted by resistance, and the price has moved into a countertrend correction due to uncertainty. Markets are waiting for positive signals from the Fed. Local and global trends are bullish, which may support the price overall... Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
29
EUR/USD – Falling Wedge at Major Fibonacci Zone | Bullish ReversAfter a strong mid-June rally, EUR/USD has pulled back into a key fib cluster, showing early signs of reversal from a classic falling wedge pattern — often a precursor to bullish breakouts. Technical Breakdown: 📉 Descending Trendline 🔍 Fibonacci Confluence: Price is reacting from the 0.5-0.618 – 0.705 zone (1.16421-1.15969), aligning perfectly with historical demand and the golden zone of the fib retracement. Just below sits the 0.79 fib (1.15339), which also marks our invalidity level for this idea — a deep but powerful retracement if tested. 💡 RSI: While still below 50, it has created a hidden bullish divergence between July 12–17, hinting that momentum is flipping back to bulls. 🧠 Educational Insight: This setup combines Trendlines, Fibonacci retracement theory, and EMA dynamics to build a multi-layered trade thesis — the type of confluence we look for at Wright Way Investments. Price doesn’t just reverse because it hits a fib level. But when structure, EMAs, and RSI align — the odds increase significantly. 📈 Trade Setup (Idea-Based, Not Financial Advice): Long Entry Zone: Current area (1.159–1.161), with confirmation above 1.1626 Invalidation: Clean break & close below 1.15339 Target Zones: 🎯 TP1 – 1.1642 (50 fib & retest zone) 🎯 TP2 – 1.1686 (38.2 fib) 🎯 TP3 – 1.1755 (Weekly Resistance) 📌 Summary: EUR/USD is forming a textbook reversal setup, supported by fib precision and EMA alignment. Patience is key — but the ingredients are here for a strong bullish continuation.
Long
by WrightWayInvestments
Gold Futures Long Setup – Breakout Continuation off the 0.618 FiGold Futures Long Setup – Breakout Continuation off the 0.618 Fib Instrument: Gold Futures – COMEX ( COMEX:GC1! ) Timeframe: 15-Minute Trade Type: Long – Breakout Continuation Entry Zone: 3390 (0.618 Fibonacci retracement) Take Profit: 3428 (0.786 Fib) Stop Loss: 3384 Risk/Reward Ratio: 6.68 Setup: Bullish Flag on Retest 🔍 Trade Thesis This trade is part of an ongoing breakout continuation strategy we've been trading, and now we're eyeing a pullback entry as price returns to a key retracement level. Price nearly exploded through the 0.618 Fibonacci level (3390) during the prior breakout. Now it's pulling back in a textbook bullish flag formation, suggesting healthy consolidation before the next leg. The 0.618 retracement is aligning with previous intraday structure and trendline support — making this an ideal level to scale in. This is a high R:R continuation play, with targets set at the 0.786 Fib level (3428) — right before macro resistance kicks in. 🎯 Entry & Exit Strategy Entry: As price touches 3390 or forms bullish confirmation at the level. Stop Loss: 3384 – tight and below key fib/flag structure. Target: 3428 – based on 0.786 Fib extension and breakout continuation projection. 📊 Why This Works Breakout behavior: Price respected the breakout impulse and retraced cleanly into a bull flag. Fib confluence: 0.618 pullbacks are a classic entry in trending markets. R/R of 6.68: Excellent reward profile vs. limited risk.
COMEX:GC1!Long
by JoshuaDanford
GOLD → Breakthrough accumulation. Correction before growthFX:XAUUSD has been strengthening since the session opened and is heading towards the 3374 zone of interest. The price has previously broken through the consolidation resistance and may test this boundary before moving further. Gold is rising amid trade risks and dollar weakness. After falling to $3310, gold resumed its growth, seeking to break through the $3368 level. Support for prices was provided by uncertainty surrounding Trump's tariff policy and expectations for Fed Chairman Powell's speech. The US dollar weakened temporarily as investors sought refuge in gold amid trade disputes with the EU, political instability in Japan, and criticism of the Fed from the White House. Technically, the price is in a realization phase after breaking out of consolidation, but it has encountered resistance at 3368, which could lead to a correction. The focus is on the 3350-3355 zone. If the bulls hold their ground above this zone, the market may return to the realization phase. Resistance levels: 3368, 3374 Support levels: 3345, 3332 The market is bullish and feels support, especially against the backdrop of a weak dollar. Traders are watching Trump and Powell. If the latter decides to cut rates, for example tomorrow at 12:30 GMT, gold could rally... Technically, gold could test 3350 before rising. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
21
BITCOIN → Consolidation, retest of 120K. Correction of dominanceBINANCE:BTCUSDT , after a rapid rally and touching 123K, rolled back and entered consolidation, giving altcoins a chance. At the same time, Trump signed new crypto laws, but will these laws open new doors? On June 18, the GENIUS Act was signed. Information can be found in the sources, but there is no direct reference to BINANCE:BTCUSDT.P , except perhaps indirectly: increased confidence in the crypto market, increased liquidity, possible new rules, and pressure on decentralized assets. Bitcoin has not always grown on positive news; more often it has been a deep pullback and liquidation before the momentum. Technically, Bitcoin is currently consolidating, and I would highlight several key areas: the upper range is 120K-120.9K. The zone between these levels is particularly important, as this is where buyers were previously liquidated and sellers gathered (liquidation is possible). The bottom is 117K (confirmed) - 116.2K. There is a liquidity pool on the support side. additional scenario if the market does not reach resistance and decides to form a long squeeze before growth Theoretically, I am not yet expecting a breakout and growth of Bitcoin. I think that consolidation may continue for some time, especially against the backdrop of a pullback in altcoins and a deep correction in the dominance index. Resistance levels: 120100, 120850 Support levels: 117000, 116230 Since the opening of the session, the price has been working off the liquidity capture from 117K. There is a reaction - growth, which could bring the price to the zone of interest at 120K. But the question is: will the price hold in the 120K zone? A false breakout of resistance could trigger a correction to 117-116K. Thus, I expect the market to remain in consolidation for some time or even expand the current trading range... Best regards, R. Linda!
Short
by RLinda
26
LINK/USDT 4H Chart📉 Indicators and Market Structure: 🔶 Trend: Current trend: up, as long as it remains above the trend line and the 19.14 USDT level. Local resistance: 20.28 USDT (recent high). Next resistances: 20.99 USDT and 22.13 USDT (green lines). Supports: 19.14 USDT, 18.44 USDT, 17.29 USDT (red lines). 🔷 Stochastic RSI (lower indicator): Located in the oversold zone (below 20) and starting to reverse upward. Potential signal of buying pressure if the %K and %D lines cross bullishly. 🧠 Scenarios: ✅ Bullish scenario (trend continuation): Bounce from the trend line and the 19.14 level → breakout of 20.28 → test of 20.99–22.13. Confirmation will be a clear bullish candle with high volume and a Stochastic RSI cross up. ❌ Bearish scenario (trend break): Closing below the trend line and the 19.14 level → correction towards 18.44, and then even to 17.29. An oversold RSI could support continued declines if a rebound does not occur. 📌 Summary: Currently, the key level is the trend line and support at 19.14 USDT. The market is waiting for a reaction – a rebound or a downward breakout. Stochastic RSI suggests a possible rebound, but candlestick confirmation is needed.
by cryptodailyuk
1