Interesting situation with the following two possible scenario
Upper resistance breaks - good BUY entry at resistance level turned then support
Upper resistance holds - good SOLD entry at at the retest of the next support level turned then resistance
The very strong yearly trendline resistance that was broken upside in July 2020 is currently retested acting as support.
Montly M pattern could be completed with a market price going to the neckline of the M pattern or at last to the 0,382 of the Fibonacci ratio of the downward impulse.
The strong support of $ 45,470 did not hold.
Market price fell to the next major support at 42333.
If this support does not hold, the next step will be the area around 40750.
However, an important thing to consider is the associated volume which appears not to explode compared to other similar drops.
Monthly return (DEC 2021): 1.63%
SMTMI Strategy YOY : 82.79%
2021 was a good year, showing a return of 15% above the average obtained over the last 10 years.
Would you like to benefit with us from the excellent results of our ETF strategy and many other successful investment ideas ?
Be sure to join us on SMTMI.com
USDJPY - After a "W", we can potentially expect a retracement to the neckline of the "W" to complete the pattern.
As a result, we can expect a correction to the support area between the 0.5 and 0.618 Fibonacci ratios, followed by rejection of support and further upside.
The monthly support zone between 1675 and 1700 has been tested multiple times (5x) from 2020 to 2021.
These successive test phases seem to repeat themselves like a fractal on the weekly calendar from 2021 with a test phase of the support zone between 1740 and 1760.
Both test areas are located at the golden ratio of 0.618 of the Fibonacci retracement taken during...
MACD current below 0, but with the break of resistance level 15.52, it will become positive, and with the retest of the now support, we can be looking at a good look bullish movement, according to the Fibonacci taken on the daily retracement.
XRPUSD is currently testing an important resistance level .
If the price action breakes that level, at the retest of the daily support,when the market environment (representd here by the MACD indicator) becomes bullish , this could represent a good longing opportunity.
The GBPUSD market price broke a strong weekly support last week at 1.3617
Then the maket retraced to the Fibonacci golden ratio of 0.68
Short opportunity to complete a short continuation ABCD pattern .
And MACD is still showing a berish environment of the market.
Daily/Weekly bearish momentum
Daily: bearish dynamique
4h bearish momentum
Loss of 0.382 fib support
Current V bottom structure
Bollinger Bands still not contracting, so no expected increase in volatility
BTCUSD - Wycloff accumulation pattern. Do you see the similarity between the current behavior of the BTCUSD and the Wycloff Cycle ?
As par Wycloff cycle, before exiting the accumulation pattern, there will be a Sign Of Strength or SOS, which serves as confirmation that the price is likely to keep moving up.
BTCUSD moving in a range for 2 months between 41.3K and 29.8K
A clear divergence in the RSI appears with a potential fake breakout of the RSI trend. Similar situation to the one that triggered the uptrend reversal in mid-April. Is it again a fake breakout annoucing a trend reversal ?