Hello everyone, as we all know the market action discounts everything :)
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The EUR/USD pair ended up closing the day in the negative territory Despite the good trading action on Monday and seems to have gone into a consolidation phase around...
Analysis on #BTCUSD
Bitcoin is building slowly and testing new zone constantly, this healthy and it tells a story of how buyers and sellers reacting to market conditions.
we have successfully tested 40k and closed above it which was also a 200MA, I explained all this in my previous analysis if you like to check I will leave a link for you to see...
1. According to the one month Channel:
Price is in the middle of the uptrend channel So it's reasonable Price rise in channel and of course with fluctuations.
2. According to the Elliot waves:
Price is almost at the end of Motivate Wave.
3. According to the news and excitements :
(this is Last predict)
We had a barish impulsive move away from the monthly TL
Price then entered a correction period before breaking out to the downside
We then whitnessed another short correction period before another break and a bearish push to the underside of the 1h 200ema
This trade looks really good, but this is forex and anything can happen.
Gold looks like on bull momentum, but if we see the deeper the price could be on it's way to form AB=CD bearish pattern.
Furthermore, there's a supply zone at 1955 - 1972 that hasn't been tested before.
If AB=CD confirm, price will fall with the same length as the CD rally.
If we expect it will fall at 1.618 Fibonacci, price might retest 1920 again in the...
Daily chart. We have seen a big impulse to the upside this week. The last three days there has been a visible loss of momentum as those wicks never lie. I would wait to see how price will react and then look for the 2 possible scenarios around the pink level. If price break the blue zone the analysis becomes invalid. Trade safely and manage your risk!