Mihai_Iacob

Mihai_Iacob

As I mentioned in my previous posts, I am bullish on Bitcoin and expected a break above $71,000 with a rise to at least $85,000. However, I always consider multiple scenarios. In this post, I want to discuss all the potential outcomes I foresee. The Good Scenario: As shown in the chart, although the price dropped again from the all-time high resistance, the...

Mihai_Iacob Updated 

As you know, I'm strongly bearish on gold in the medium term. However, as I explained in previous posts, I expected a recovery after Friday's 1000-pip drop. The big question now is: from which level will gold start falling again? As I mentioned yesterday, a new leg of correction is probable. At the time of writing, with the price at 2313, it seems we are in the...

Mihai_Iacob

As I mentioned in my analysis yesterday, I anticipate a significant drop in gold prices once the current correction ends. As expected, the price broke above the 2320 local resistance, creating a new upward correction leg. It then reversed from 2341, giving me a precise short entry. The candlestick pattern since Friday has formed a "bearish mat hold pattern,"...

Mihai_Iacob

From a fundamental standpoint, given the political problems in the EU, the GBP is expected to outperform the Euro, regardless of what happens with the major pairs (EUR/USD and GBP/USD). This, combined with the technical outlook, could create a promising selling opportunity for EUR/GBP. As shown in the chart, the pair broke a major support level this week....

Mihai_Iacob

After a month-long consolidation near its peak, ETH plunged sharply, reaching a low of 3380 yesterday. Despite this drop, the medium-term bullish trend remains intact and this decline should be seen as an opportunity to buy at more favorable prices. My strategy is to buy on dips, anticipating a break above 4000.

Mihai_Iacob Updated 

As you know from my previous posts and videos, I'm strongly bearish on OANDA:XAUUSD . However, in my analysis yesterday, I mentioned that after such a significant drop on Friday, a correction is possible. Indeed, after a double tap on the 2290 zone support, gold started to reverse and reached an intraday high of 2315. There is still the possibility of a new...

Mihai_Iacob

The beginning of May marked the start of a correction for the DXY, with the index dropping from 106.50 to the 104 support zone. However, after finding support around 104 and undergoing a few days of consolidation, the much stronger-than-expected NFP data last Friday led to a reversal for the US Dollar, as evidenced by a significant bullish engulfing pattern on...

Mihai_Iacob Updated 

Last week was volatile and, most importantly, an interesting week for XAU/USD traders. In light of new developments in the market, a more in-depth analysis is needed to address the question of whether gold will drop to 2200. Weekly Chart Analysis: Initial Observations: As we can see, 2024 started with consolidation and a slight correction of the initial leg...

Mihai_Iacob

Since the beginning of the year, GBP/NZD has been on an upward trajectory, making higher lows and higher highs on the daily chart. Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action. Currently, a new higher low seems to be forming. In my opinion, the pair will continue its upward movement and...

Mihai_Iacob Updated 

In my video yesterday, I mentioned a possible upward continuation for gold and identified 2355 as the buy zone. Indeed, the price reversed upward precisely from that zone and reached a local high of around 2388. However, the rise after breaking the resistance is overlapping, indicating selling at higher levels. Additionally, the recent upward movement is...

Mihai_Iacob

Understanding Cryptocurrency Wallets What is a Cryptocurrency Wallet? When we think of a wallet, we usually imagine a pocket accessory holding cash and cards. However, digital currencies don't exist in a physical form or specific location. Cryptocurrencies, account balances, and transactions exist on a blockchain. What is Blockchain? Blockchain is a term...

Mihai_Iacob

In mid- April, XRP broke below 0.55 zone support and made a local low at 0.42. Although the broken support has since acted as resistance, the price is making higher lows pressing for an up break. If this will be the case, XrpUsd should gain momentum and rise to 0.7 zone

Mihai_Iacob

Bitcoin's price action has been pretty boring in recent days. In fact, for the past three months, BTC/USD has been stuck in a range. However, as I mentioned in my previous analysis, bulls have held very well above the important 67k support level. At the time of writing, the price is 71k, once more facing the established resistance. A break of this level is...

Mihai_Iacob

For almost three weeks now, gold has been trading within a range between 2325 and 2355, with spikes in these zones being bought or sold. Yesterday, at the New York close, the price broke below horizontal support but reversed back above it during overnight trading. Although both dips below support proved to be false breaks, the overall structure remains...

Mihai_Iacob Updated 

Yesterday, after initially breaking below the 2325 support level, gold reversed and rose to test the 2350 resistance zone for the third time. Bears capped gains in this zone, and now the price has started to roll back down. As long as this zone acts as a ceiling, there is a high chance of a drop below 2300. Confirmation of this comes with a clear break below...

Mihai_Iacob

In my written and video comments from last week, I mentioned that I expected gold to drop in a new downward leg and indicated the 2350-2360 range as the sell zone. Indeed, after touching this zone twice, the price dropped and closed the week near the 2325 support level. This week's opening saw a drop below this support, and at the time of writing, gold is...

Mihai_Iacob

As explained in my latest video and written analysis, gold may have changed its trend. However, considering the 1000-pip drop from last week, a correction could occur. Indeed, the price started to rise after hitting a low of 2325 and reached a high around the 2360 zone. This rise is clearly corrective in nature, and gold could soon drop again in a new downward...

Mihai_Iacob Updated 

After reaching an all-time high in March, BITSTAMP:BTCUSD started to consolidate between 61k and 71k, with a false breakdown in the final days of April. Following this false break, the price once again reached the resistance zone last week and is now consolidating again. The overall trend remains clearly bullish, and the chart structure over the last three...