Who will win? fundamentals or technicals? from a fundamental view with current Fed monetary policy the market is super bearish along with bearish AUD which put more pressure on Gold price. from a technical view whenever the price hit that weekly zone we get a spike of at least 800 pips!
i think btc with two reject from weekly zone(the yellow circle) that part of monthly zone have a nice possibility for bullish move that now have it
so the moves bitcoin may have in future base on supply and demand zone and order flow can be like that ( the green and black and red paths )
if bitcoin can break the zone that have it right now(49 to 51 price) i...
Good morning Traders
Bitcoin (BTC/USD) has been expanding in a corrective manner since the covid crash back in March.
I reckon there's a pretty decent possibility that the current uptrend and final C wave of (B) completes somewhere between $16-19k to complete a macro regular flat correction.
IMO we should get a 1:1 extension of (A) which would have bitcoin...
We have an update to our trade - we took sells at the rejection and are stuck in a nice 250 odd pip trading range. Neutral range - but we anticipate long term buys.
We are waiting for the break of our trend line - as the USD is gaining strength and the GBP has got alot of short orders against the Dollar.
However the Aussie has had orders shorted for the past...
Evening Traders,
Recent developments on LTCUSDT have not been much, lagging behind the broader market in general. From a technical stand point it needs to break above the weekly resistance zone for an impulse move.
Points to consider,
- Immediate trend bullish
- Resistance multiple confluences
- RSI above 50
- Stochastics buy cross (larger time...
EUR/JPY has com across the weekly zone (purple) and is in line with the ascending trendline. On the 1hr timeframe, price has made a falling wedge as well.
eurgbp rejected weekly zone (purple) and broke through daily zone (green) as well. Price retraced back to daily zone but fail to touch it but price created a 4hr zone followed by rising wedge.
Waiting for breakout to confirm bearish move.
gbpcad found major support from weekly zones (purple) and new daily zones (green) have been created recently, trendline also is in confluence with trend as well, hoping to see price reach new levels.
After about 6 weeks of bullish price action, price is now at weekly resistance. Watching for a break of support & channel for shorts potential swing trade..
