This is a quick update on Bitcoin's short-term price action! Bitcoin is moving in 3 wave structures, which indicates a triangular formation that usually breaks in the direction of the main trend! I am bearish on BTC until we hit my price target of 24800, which is a significant swing high from June. The triangle suggests it as well. I expect a final impulsive...
FX:GBPUSD breaks the trend support and is in the red zone, but the price may form a false breakdown and counter-trend correction before further fall On the chart we see a global uptrend within the price channel, but at the moment of strengthening of the dollar, the currency pair gbpusd breaks the support of the trend and is in the red zone. As part of the...
Bitcoin is moving in this huge parallel channel no one talks about, and the price is respecting it pretty well, including the middle trendline! The current price of Bitcoin is around 25900 USD, which is very near its bottom in November 2022 at 16000 USDT. I expect this low to be followed by a huge crash, so make sure you are prepared for it. Bitcoin has been...
My analysis shows an impressive crash is prepared on ETH after 427 days of consolidation in this bear flag on the weekly chart! It was a long time, and ETH has been going pretty much sideways. Now we have to expect huge volatility! The trendline of the bear flag is clearly breaking down with an ABC Elliott wave corrective pattern, which strengthens the bearish...
FX:USDJPY continues to form an ascending price channel. After breaking one of the resistance lines, the price is forming a pattern that could weaken the price during the DXY stop. On the chart, I have marked two levels that are quite close to each other. Pay attention to the levels 145.06 and 144.9. The price forms a correction after the formation of a double...
Gold update, previously on the Monthly timeframe I anticipated a slight drop(correction). And it's still an ongoing bearish trend, On the Daily timeframe the bearish bias is still valid maybe it will be short-lived. We are in a double correction pattern where all of the waves are corrective patterns. The wave (Y) is still on the first leg of the sub-pattern, a...
Price Is most likely to trade bullish on the NZDUSD for the upcoming weeks to months, it's clear we completed the corrective phase of the double correction pattern. A double correction/ combo is a type of corrective pattern where all of the sub-waves are correction patterns as well it can be any corrective pattern except a triangle pattern for wave (W). We are...
The DXY has an inverse correlation with the EURUSD it's wise to think DXY will be bullish trading in a corrective phase currently. We will be on the lookout of the Fibonacci retracement golden zones for correction completion.
FX:USDCHF continues to strengthen within the ascending triangle. The price is retesting the trend resistance. What can happen? As we can see on the chart on the bottom left, the currency pair is forming a consolidation relative to a strong resistance area. The mentioned accumulation, when moving to the phase of implementation is able to change the direction...
Solana is coming down, but with three waves so far, so can be a contra-trend move with nice interesting support right around $18.00 where we see the 61.8% Fib and also the equality level fo wave C=A. There is also a former swing low around 18.50, that can try to help price to stabilize a bit. $solana #elliottwave #crypto
OANDA:XAUUSD is stopping. Yesterday I said that we should expect a flat formation in the near future. We are seeing confirmation. A break of trend resistance sends the price to retest 1900, after which a range of 1900 - 1885 is formed Note the dollar chart below. Gold is highly dependent on the DXY price. USD breaks the 103 level but does not form a proper...
FX:CADJPY is forming a local upward trend. The currency pair is gaining resistance at 108.12 and forming an ascending triangle, most likely we will see some development in the near future. The currencies are weakening on the background of fundamental and geopolitical nuances, but the currency pair is getting stronger, overcoming one of the key levels at 107.6....
10k in April 2024? This is not sci-fi, but a real scenario that is probably going to happen! Make sure you are ready for what is coming. In this analysis, I will tell you all of the reasons. Bitcoin is extremely weak compared to the stock market or gold. While gold almost hit an all-time high, Bitcoin is near its low from November 2022, which is 16K. The...
OANDA:XAUUSD finally breaks the medium-term support line and updates the low to 1885. The trading week closes near the local support level, which indicates that the market is ready to continue the trend This week ended positively for the dollar, the metallo reacted as expected. There are several important news items to watch out for in the coming week: 1)...
BITSTAMP:BTCUSD is breaking the 26700 support and MA-200 forming a strong bearish momentum, but at the same time the price is not breaking the bullish channel. In terms of global outlook, the price is still in an uptrend Pay attention to the weekly chart on the left. Price is forming momentum and a strong distributive move towards the strong support at 25000....
The major uptrend from 15500 to 32000 is over, and the bears are stepping in! I expect 20330 to be hit in the next few weeks, so make sure you are prepared for it! We can clearly see that the major trendline / parallel channel is breaking down! The price is below the trendline, and what's more, if we take a look at altcoins such as ETH, it confirms this...
Gold breaks through support and makes a momentum move and updates the global low to 1889. It is likely that the market may continue to fall TA on the high timeframe: 1) The nearest point from which we can expect to buy is 1902.87, a false breakout can be formed but it will take a lot of time TA on the low timeframe: 1) Price breaks the support of the wedge,...
OANDA:XAUUSD amid numerous resistance retests is not yet able to break it. Fundamental data is still on the side of the dollar. The gold price continues to fall and update the lows The price bounces off the channel resistance and falls, testing 1890. A false breakout is formed against the mentioned support and the price starts a local rebound. Most likely,...