Let's start with what Merge is and how does it affect the price?
This is where ETH switches from POW to POS. This means that the "production" of new Ethers can drop by as much as 90%.
However, you should be aware of the dangers that could occur if the update failed.
But as always, let's try to be optimistic for a moment!
Knowing the past, or if you prefer...
Previous Monthly candle closed
Bearish with a long rejection wick.
High Probability The next monthly
candle will fill the previous candle wick.
We could continue the bearish momentum in September before pushing to the upside.
Overall GBPJPY is in a Range
I am anticipating price to respect my 1hr zone to continue to the downside.
Liquidity is found in my retail...
Today with yellow lines we have marked the channel in which the BTC price is currently moving.
As you can see, we have two important zones:
-first is the support line on which the price is currently based at $ 23,021, then we have a support zone ahead of the price which ranges from $ 20,957 to $ 17,669, if the price drops below the designated zone,...
- Sellers have exhausted and made their final push. So in the next 12 hours it will be bullish, however when price hits my fib at 69361, price will most likely reject and shoot to the downside.
- The issue I have with this trade is that price could be possibly consolidating because of the zone we are in. Also the issue is I might miss the entry...
While there might be much more trading opportunities in the way, Shorting Bitcoin around the supply zone and Longing it at around the Strong demand zone is rational.
There are also two other lines which are weaker entry points and cautious traders should avoid them.
A safer Long trade might be after breaking the 23000 or in a reverse to lower ZONE.
The monthly chart shows that British Pound very probably will increase in value against the Japanese Yen. As we can see in May the price consolidated and closed above the resistance. In June we can expect the candle to form a bottom wick and continue to go up to fill the wick of April, once it exceeds April's high, it has a free traffic until...
The market lost the support on 2460$ and retested as new resistance before a new bearish impulse until the monthly support on 1800$
The price is creating a pennant on the 4h timeframe, and the market created the demand zone on 1800$
How to approach it?
IF the price is going to grave new liquidity from the demand zone, we can add in our watchlist in order to...
Support and resistance are created by the decision making of market participants, as they operate within an environment of uncertainty. Decisions to buy or sell are made through referencing current price against previous areas which caused significant emotional response, in particular those areas which led to regret of missing out on opportunity, or those areas...
The Euro has been on a tear for a bit, and it's about time for her to retrace. We are in a small daily Supply Zone, and i'd like to see the 4H make one more push higher to grab some more liquidity before falling for a nice bit.
USDCHF above key support in the demand zone. Broke short term down trend and is holding short term long trend on the daily. Will need to break up out of the triangle on the weekly chart to break major long trend. This will signify a longer trend to the upside towards the daily supply zone. We can see a inverted head and shoulders pattern that will need to complete...