Daily: The upward Falling Wedge pattern is successfully broken and starts a short-term growth. We also see a very strong positive divergence .
Upcoming targets: 105.650, 106.850 and 107.700
In the weekly time, a Pinbar candle has been formed, which can start a very strong upward trend. Hawkish Powell's words will also make the upward trend stronger.
So...
Bitcoin seems to be moving in an almost neutral channel (placed in a larger descending channel). The most important resistance range is 18100 to 18580 . If it succeeds in breaking this resistance, it will move towards the ceiling of the channel (21500) . It is possible that by touching this resistance, selling pressure will increase and move towards the bottom...
With the continuation of the downward trend today, a double top has been formed, which can reduce the price to the 1740 zone. The short-term target for a few days is 1740 . Also, during several attempts, he could not succeed in breaking the MA of 200.
You can see my past analysis in my profile for more reasons why gold prices are bearish.
The market has come to the conclusion that the level of 1800 to 1810 is a very strong and important resistance. Because after reaching this range several times, it has faced selling pressure.
1. It has probably completed wave B and will move towards wave C (1727 to 1734).
2. It has reached the corner of the drawn triangle and since it failed to register a...
4 hour analysis
Wave 5 has ended at 1810 . It is currently moving towards corrective wave A . Wave A is likely to continue until the 1727 . Then B wave will rise up to 1780 (formation of ceiling head and shoulders pattern). And wave C will continue until the range of 1680 .
It seems that it is currently in a bearish flag pattern , which will reduce...
It seems that the gold rally is over and should prepare for a major correction to the 1706 .
Among the important reasons for falling:
In this analysis, we see that a harmonic pattern (butterfly) has been formed, which is a strong bearish pattern and will cause a sharp drop in price.
After the price met the important and sensitive resistance of 1808 to 1810...
11 solid reasons that you can rely on to start the price drop:
1. Strong negative divergence in RSI and MACD
2. The formation of Hanging Man candlestick (a bearish candlestick that initiates a downward trend)
3. The possibility of forming a double top
4. Strong resistance 1800 to 1810
5. Dealing with the trend line (probable channel) daily
6. The...
In the daily timeframe, as seen, it has reached the midline of the 12-year channel and is on strong and reliable support ( 104 to 104,300 ). We also have a price range from 109 to 111 that must be filled. The 9-month old channel is also broken and should be pullback to this channel. In RSI and MACD , positive and strong divergence has formed. Based on...
In daily time, we have observed negative divergence. Also, a Double top has been formed in RSI. The resistance of 1800 is a very strong range that will prevent further growth. It can be said that big banks have entered sales transactions again.
The range of 1780 to 1786 is a heavy daily resistance. It is expected that a Double top will be formed in this area. If a Double top is formed, heavy rainfall will occur until 1630 . It is also necessary for the price to pull back to the broken 8-month channel . The sales range is 1780 to 1785 . The main target is 1630
