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SOL - what retrace levels to expect after the solid rally Hello all, SOL has been on a pretty solid uptrend recently. The coin last bottomed at $25.5 on 30.05 and since then has rallied more than 70 percent to the area above the $40-$42 resistance zone. If we zoom out we will see that on the Weekly timeframe the SOLUSDT pair respected the long-term uptrend and did not allow a break blow the 21-period EMA perfectly rebounding from it in the last two weeks. Going lower to the daily timeframe, the pair retraced by 67 percent during the last major pullback, but still managed to stabilize around one of the previous demand zones from back in April, 2021. It recovered quickly to test the $35 zone, which is of great significance since it successfully broke SOL's freefall on May 20 (it was also a serious resistance from back in late April). The move resulted in another pullback from which SOL came stronger turning $35 into support. We come to the main part, which is the current trading zone of the Solana token. We can see clearly that the $41-$45 zone is a though one to break given the fact it is an old range already fortified and tested multiple times in the 26 April - 16 May period. It is also where the 61.80 percent Fibonacci level is located from the last pullback - the most important Fibb level in my opinion if we are looking for reversals. What is more, the Point of Control is placed exactly here, which means the trading activity in the zone is extremely high. A retrace from here is imminent for the above-mentioned reasons. I will be looking for a long re-entry in the $39-$40 area just because going lower will open the door to a full retrace to $35 and another test of the support + it will mean a confirmed break of the 21-period EMA on the daily timeframe. Second target for longs will be $37 - May 26 peak + 21-period EMA on daily Regards,
by FutureBlockchain
2
Tesla Poised to Climb Towards $700.00The share price of Tesla seems poised to appreciate towards the psychologically significant resistance level at 700.00 over the med-term. The prominence of this level is derived from the fact that it is positioned remarkably close to the 23.6% Fibonacci retracement. The latest upswing originated from the 38.2 per cent Fibonacci. The reinvigorated bullish commitment stems from the fact that this rebound also occurred from the 200-day MA (in orange). Not only that, but the price action also appears to be developing a Double Bottom pattern, which entails mounting bullish pressure. However, market bulls should watch several key developments. First, the Stochastic RSI indicator indicates peaking buying pressure, which could potentially imply that the upswing may be interrupted soon. Moreover, the price action would also have difficulties in breaking out above the 50-day MA (in green) and the descending trend line (in red).
NASDAQ:TSLALong
by Trendsharks
HBAR/BTC Breakout Coming?Hedera Hashgraph (HBAR) has massive potential against BTC in the coming days/week. Its ATH versus BTC is around 0.00000850 BTC for 1 HBAR. It currently stands at 0.00000540. However, based on a wedge that has been building up in this pair, we could soon see it around 0.00000600 HBAR/ BTC , with no upside limit after it breaks out of this channel. I cannot post images as my account is new :( I am watching to see if it breaks 0.00000575. Let me know what you think!
Long
by Amci99
Bitcoin - $48k then Bounce! Buy that Dip!Price has broken out of our descending channel today after crypto bulls entered back into the market after a dip to end last week as people sold their crypto assets because of Biden's fundamental announcement surrounding the Capital Gains Tax. Will we see another push to the upside across the board on crypto this week after BTC dipped to as low as $48k? Keep an eye on these three key levels marked on the chart! Any crypto questions, fire me a direct message! Have a great trading week!
COINBASE:BTCUSDLong
by Jal121
1
IVR Symmetrical triangleIVR has been beaten down due to it's performance during the pandemic and may never see it's old all time high again. It's not all bad news however as the stock has run up quite a bit since falling and has formed a symmetrical triangle. This symmetrical triangle has broken out to the upside recently. My price target for this formation is 5.10USD. The measured move is based on the local high at 4.60 to the bottom of the first impulsive sell off at 3.51. My entry for this trade is at 4.06USD, I already entered this trade today. There could be a retest of the descending trendline that could provide a good entry under 4 dollars as well. My stop for this trade is at 3.71USD, which is just underneath the break up candle low from march 25th. This set up gives me a risk reward of 2.9 with a profit of 25%, not bad. The only thing That is not great is there has not been a increase of volume since the breakout, however that is normal for penny stocks in my opinion. Let me know what you think of this trade in the comments.
NYSE:IVRLong
by zac_destroys_all
5
BTCUSD falling wedgeIf you have been following my analysis on BTC you would know I've been paying close attention to the upper trendline ever since I noticed a head and shoulders pattern forming. That same trendline has continued to be major resistance. The bottom trend line has acted as decent support but we almost lost it. for a long time now I've been watching this broad bullish falling wedge develop between these two lines. I suspect that it will break to the upside and have us test resistance at 48480. once 48480 is retaken BTC will most likely continue it's slow grind back to ATH.
BITSTAMP:BTCUSDLong
by zac_destroys_all
4
BItcoin: 60k targetHello Investors and Traders, We recently got a good correction on multiple cryptocurrency on valentine day. More than a handful of crypto dropped 20-30%. That was bound to happen after an astronomical rise from prior weeks. The amazing thing is how majority of these crypto corrected right onto new major support before climbing back up. Taking a look at Bitcoin. We can clearly see when the break happened last week; roughly 43K. Ever since then we have been consolidating up. This is a very bullish sign and most likely we will head to the target indicated soon with this next push up. Let me know what you think.
COINBASE:BTCUSDLong
by Abdorhman-Thi
1
OGI: Potential for big upsideOn the 1 day chart for OGI my supper guppy indicator has turned green/blue, indicating an uptrend, for the first time since June of 2019. On the 1 week chart you can see that the fast EMA's on my super guppy indicator have turned from orange to grey...When the fast EMA's turn grey during a downtrend it typically indicates that price action could have incoming volatility and suggests that a bounce is currently ongoing. When you consider this in addition to the bullish super guppy signal on the 1 day chart and the strong signal indicated by my GMMA oscillator I think we are going to see some really nice upside.
NASDAQ:OGILong
by LivermoreGrahamDisciple
8
BTAI Symmetrical Triangle Breakout: Potential for 100%+ returnsBTAI has just broken out of a nice bullish symmetrical triangle formation. As you can see from my chart the breakout was backed by strong volume as it occurred at a significantly higher level of volume than seen during the consolidation phase. Now that the breakout has occurred you can also see my GMMA oscillator is dying to cross over into the green. The last and only 2 times the GMMA oscillator turned green on the 1 week chart it was followed by major price run ups. The first time we saw price rise from $5.60 in late December 2019 to $43.75 by Mid February 2020. The second time this occurred we saw price rise from $22.50 in mid April 2020 to $71 by mid July 2020. If we have another strong crossover into the green I fully expect another major run up in price. In addition to T.A I have also set a price target of $105 based on fundamental analysis. When coming to this number I was pretty conservative in my calculations and feel that the real upside may be even higher than this $105 number. Overall I am feeling very bullish on BTAI.
NASDAQ:BTAILong
by LivermoreGrahamDisciple