As it can be inferred from the chart, the price is currently sitting on a previous zone of resistance now turned support that lines up with 0.5 Fibonacci retracement level. We are patiently waiting for the price to nicely bounce off this local area of demand and continue growing. Our target will be set at the area of 0.934 previous High
As it can be inferred from the chart, the price has been on a bullish run since the beginning of February. As per usual, after a strong impulsive move, a correctional move is highly possible. Therefore, we are patiently waiting for the price to touch the zone of resistance identified on the chart once again, before we aim towards opening SELL positions and...
As it can be inferred from the chart, the price opened lower this week as the market digested the US job reports over the course of the weekend. Moreover, technical analysis backs up a possible SELL opportunity as well. The price was super bullish last week and possible correctional moves are definitely needed. In addition, it can be observed that the price is...
As it can be inferred from the chart, last week's heavy GBP fundamentals managed to push the price up by almost 200 pips. After an impulsive move, a correctional move is definitely needed. We are patiently waiting for the price to tap the area of 0.84700 resistance once again, before it can start pushing to the downside. When a valid top is formed, we will be...
As it can be inferred from the chart, the price is currently in the process of completing the correctional move of the strong impulsive move that took place last week. The price is currently forming a Head&Shoulders pattern at the area of a local resistance that lines up with 0.382 Fibonacci retracement level. We are expecting for the price to keep dropping all...
The price is currently testing the previously broken zone of support which has now become a valid point of resistance. The overall sentiment of the market remains bearish and it is expected that the price will keep dropping more and reach the area of the Lower Low indicated on the graph.
To start, the overall sentiment of the market is bullish. Narrowing down to 8H and 4H timeframes, it can be inferred that a nice uptrending channel has been formed and the price has rejected the lower boundary of it. The previous H4 candle has penetrated through a local zone of previous support turned resistance and closed above it. It is now expected that the...
Good time of the day, traders! As you can tell from a pretty self-explanatory name, this is our last and full review on all of the most useful indicators available for public use. The first two parts are linked to this post and now we’re going to take a look at our last 3 indicators. The Williams Percent Range, commonly known as the Williams Percent R, is a...
Bitcoin keeps dropping like a needle and there is definitely more room to the downside. Golden rule states that after an impulsive move, a correctional move is needed. If we use the Fibonacci retracement tool, we can clearly observe that the price has been rejecting the area of 50% Fibonacci retracement and forming a top before another drop. As multiple...
As it can be inferred from the chart, the price dropped massively last week. As a rule of thumb, after a massive impulsive move, a correctional move is needed. The price is currently sitting on a major zone of support and a valid bottom is being formed. Our overall bias remains bearish for this pair, but a short-term BUY opportunity is what we are eyeing. We are...
After not being able to remain above the sideways moving range after a massive bullish breakout, the price dropped below the crucial level of resistance and retested it. As it can be inferred, 50% Fibonacci retracement level acts as a confluence as well. A downtrending trendline has been formed on the lower timeframes and the price is nicely rejecting it. We are...
The price had been downtrending for the past couple of weeks before finally breaking out of the descending trendline and making its way to the 1.27 area. After an impulsive move, a correctional move is much needed. Therefore, we targeted the 1.256 zone of previous resistance now turned support that aligns with the golden Fibonacci ratio zone (0.5-0.618). Now that...
As it can be inferred from the chart, after a massive bullish candle penetrated through the zone of resistance identified on the chart, a nice re-test has been completed as well. We are now expecting for the price to keep rising and reach the area of resistance illustrated on the graph. The sentiment of the market is bullish, so we believe that the probability of...
After failing to breakout the lower boundary of the downtrending channel, the price is now showing some powerful bullish movements. A massive bullish candle served as a proof of bullish pressure. We are now expecting for the price to keep rising and reach the area of the upper boundary of the formed channel. Happy new trading week, family!
As it can be clearly inferred from the graphical illustration, a nice ascending trendline has been formed and the price has been respecting it and bouncing off it. From the looks of it, the price is attempting to form an inverted Head& Shoulders pattern. We will patiently wait for the price to visit the neckline of the formed pattern and complete the formation of...
As it can be inferred from the chart, a nice descending channel has been formed and the price is currently building up a bottom on the lower boundary of the channel. From the higher timeframes, it can be observed that the sentiment of the market is bullish. We are expecting for the price to keep rising and reach the area of resistance identified on the graph.
The price has been heavily rejecting the crucial $40k area of support. As it can be inferred from the graphical illustration, the price has formed a nice double bottom on the same zone of support, and the recent bullish candles area pretty powerful, indicating buyers' dominance. If we draw a long descending trendline form the ATH, we can observe that the price has...
As it can be noticed from the graph, the price is currently consolidating around the area of 0.918 previous support now turned resistance which perfectly lines up with 50% Fibonacci retracement level. We are expecting for the price to visit the same area of resistance and form a nice double top, before it can drop all the way down till the area of support...