BTCUSD → An impulse that scares the buyer. What's next? 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 level is important for us, has a double confirmation, the first confirmation was from the sellers side, the second from the buyer side. I think that another retest, and especially after the distributive movement, may give us either a reversal or at least a strong bullish reaction.
Traders are waiting for fundamental confirmation for cryptocurrency action. At the moment it is the approval from the SEC of BTC-ETF futures applications. This will give a new breath to the market.
Most likely, this movement within the uptrend may be triggered for the sake of buying the asset at a lower price before further strong growth
The moving averages are acting as resistance. The market is in a correction phase.
Support levels: 25000, 24819
Resistance levels: 26707, 28474, 30575
The market is in the phase of a bullish trend, a correction is forming within the upward channel on the garfish, which may end near support
Regards R. Linda!
Elliottwaveprojection
GOLD → Bearish trend resistance breakout. realistic? OANDA:XAUUSD makes a false breakout amid the news. The price is testing the 1900 liquidity area. The chart set-up and pin-bar form a bullish potential
On the chart we also see the strengthening of the price. Gold makes an attempt to break the bearish resistance and for a few hours the price forms a consolidation above the previously broken line.
On the chart I have indicated the upper boundary at 1912.7. I think there is a chance that after a strong fall, the price may go into a consolidation or flat format. 1912 is a strong and liquid resistance and is likely to push the price back to the support, which will only confirm the flat. Our task after the breakout of trend resistance is to pay attention to strong levels to open positions for breakout, rebound or false breakout. It is too early to talk about the trend change. We are watching the price.
The price is testing MA-50 for a breakout. If it happens, gold will strengthen to MA-200.
Support levels: 1902, 1900
Resistance levels: 1906.5, 1911.5, 1912.7
I expect a correction to the resistance. From 1912 a pullback and retest of support is possible.
Regards R. Linda!
OCEANUSDT → A break of resistance will give a 30% increaseBINANCE:OCEANUSDT forms a bottom at 0.1208 and forms a false breakout. After formation of the formation, the price rallies and goes into consolidation in the triangle format
After retesting the triangle resistance on July 22, the price forms a small correction after which the price forms a pre-breakout consolidation near the upper boundary of the formation.
Altcoins have been showing positive dynamics lately and most likely the breakout of resistance at OCEAN will give excellent potential.
While bitcoin is forming a correction and forming a local support area, the altcoin price is updating the local high and breaking the resistance.
The price is testing MA-50 and may soon test MA-200 as resistance
Support levels: 0.3335
Resistance levels: 0.3605
I expect the final breakout of the triangle resistance with the subsequent strengthening of the price to these levels.
Regards R. Linda!
APTOS Bulls Ready?!Aptos Token Surges on Microsoft Partnership Ahead of APT Supply Unlock
Aptos with ticker APTUSD is waking up after a completed higher degree A-B-C correction in (B)/(2). Currently we can see it forming a lower degree bullish setup formation with impulsive wave 1, followed by a-b-c pullback in wave 2 that can push the price into the steepest wave 3 of a five-wave bullish cycle within higher degree wave (C)/(3). Just keep in mind that we still need broken channel resistance line decisively and 9.5 first bullish evidence level to confirm wave 3 of a five-wave bullish impulse.
Bullish confirmation is above 14 level, while invalidation level remains at 3.
Tesla Is Approaching Intraday SupportTesla is coming nicely into projected support area within an a-b-c corrective decline, where wave »c« can be forming an intraday wedge pattern. So, be aware of bounce and recovery in minimum three waves from projected 240 – 230 support area ahead of tomorrow's US CPI inflation report.
NYSE FANG+ Index Is In A Five-Wave Bullish ImpulseNYSE FANG+ Index, which consists of Facebook(Meta), Amazon, Apple, Netflix, Google, Microsoft, Tesla, Nvidia, AMD and Snowflake, we see it still in strong bullish trend with room for more gains within a projected five-wave cycle. Currently we can see it slowing down within subwave »iv« correction that can find the support around 7500 – 7400 area before the uptrend for wave »v« of 3 resumes.
DXY Is Long-Term Still BearishOne of the main reasons why USdollar – DXY may stay weak is DXY/ZN (DXY against 10Y US Notes) ratio chart. Now that 10Y US Notes is looking for a bigger recovery, DXY could easily see more weakness, as DXY/ZN ratio chart is still looking lower, but ideally once current bearish running triangle in (B) fully unfolds, which can be in final stages.
With bullish stocks and while bonds are trading at potential support, there's no real reason to be bullish on USDollar, so DXY is long-term still bearish. DXY/ZN ratio chart is now at the upper triangle line for potential final subwave E of a bearish triangle in (B). Bond market recovery, may slow down the USdollar again, which can push DXY/ZN ratio chart into wave (C), but confirmation is below lower triangle line.
However, of course, if USDollar will keep recovering, then DXY/ZN may face higher resistance for a flat correction within wave (B), but it’s still bearish on a higher degree time frame, so sooner or later DXY will back to bearish mode.
USDCAD → Range breakout. Realization of consolidation FX:USDCAD has been forming a bearish price channel for a long time. For the last few days, the price has been forming a symmetrical triangle, which is forming an attempt to change trend
The price is moving out of the range on August 2. The impulse is formed on the background of strengthening of the dollar index and the price is testing 1.3370.
Today such news are published as:
1) NonFarm Payrolls (Expected to decline)
2) Unemployment Rate (expected to decrease).
Expectations of the news were not met earlier, the indicators are quite positive for the dollar index, which indicates a stronger economy even as fitch downgraded the US credit rating from AAA to AA+, but this does not say much in the current realities.
The USDCAD currency pair is consolidating in the range of 1.3370 - 1.3320, with another retest of resistance, the level may be broken, but if the price starts a correction, it may head towards the channel boundary.
Support levels: 1.3320
Resistance levels: 1.3370
I expect that on the background of strengthening of the dollar the price may break the resistance and form a movement to 1.3565, but there is a chance of correction formation.
Regards R. Linda!
Crude Oil Slows Down For A New CorrectionCrude oil faced strong drop and spike back in May, which can be also considered as the final leg of wave (5) of A, so we are aware of a higher degree A-B-C recovery after strong reversal up from the lows. After a completed wave A and expanding triangle in wave B, which is tricky, but still a bullish pattern that already sent prices higher, ideally within a five-wave bullish impulse into wave C. Now that came back to projected April highs for wave 5 of (3), we can see a new, higher degree A-B-C correction within wave (4) that can retest 77-75 support area before the uptrend for wave (5) resumes.
Aussie Can Be Finishing A Flat Correction Within UptrendOn Aussie we see very strong and impulsive first leg from 0.6459 level, which can be the first higher-degree wave (1), so more upside can be seen after current pullback in wave (2) that can be now coming to an end as an A-B-C flat correction. As long as the price is above 0.6459 level, we will remain bullish. Looking at the 4-hour chart, we are tracking a five-wave cycle, ideally wedge pattern within wave C of (2) that can retest June lows support area before bulls show up again.
USDJPY Bears Are ScreamingUSDJPY turned down exactly from 61,8% Fibo. resistance and after reaching equal wave length of waves W=Y of a complex correction. So, seems like bears are screaming and we should be aware of more weakness in upcoming days, especially if breaks below 139.10 region, just watch out for short-term pullbacks.
USDCAD: Technical rebound in short termFrom a technical point of view, it could be interesting to follow FX:USDCAD pair in the next sessions. If we look at the intraday chart Trend is bearish but at the same time, we think that at least one technical rebound around 1.3198 will happen. In conclusion, it might be interesting to accumulate long positions (buy the dip) with small sizes follow 1H Chart.
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NZDUSD → Shake-up the support of the uptrend. Bullish potentialFX:NZDUSD forms a false breakout after retesting trend support, so we have the prerequisites for a new bullish movement.
The price returns to the boundaries of the ascending channel after the support shake. Earlier, there was a shake-up of resistance, and the price fell to support. The price tests the Fibo 0.236 and forms a consolidation above this line, the support line also coincides.
Consolidation of the price above this area will form a bullish potential, and in the medium term, the price may show strengthening.
The global trend remains neutral, the local trend is still bullish. Moving averages may give a signal in the near term.
Support levels: 0.236 Fibo, Trend support
Resistance levels: 0.382 fibo, 0.6305
I expect the price to consolidate above this support area with further strengthening to 0.6305 or 0.6381.
Sincerely, R. Linda!
Mahara HR correction to buying areaMahara seem was in a corrective pattern since IPO and looks to be forming the first 5 five impulse. I expect it to make one more up wave or decline from current prices to where it would correct lower to present a buying opportunity as indicated in the red box. Targets are the resistance lines above.
Bank Stocks Are Back To Bullish ModeBank stocks have collapsed back in March, but don't forget that markets go from pessimism (fear) to optimism (greed) and vice versa. Looking at the KBE (Bank Sector ETF) chart, we can see a completed three-wave A-B-C corrective decline after a five-wave rally, which gives us a nice bullish setup formation. So, after reaching important 78.6% Fibonacci retracement and GAP from November 2020, we may easily see bulls back in the game, especially now that is trying to break first bullish evidence level. However, keep in mind that bullish confirmation is only above channel resistance line and 50 region, while it's above the 30 invalidation level.
US banks face large capital increases under final Basel plan.
NASDAQ (US100/ NDQ100) H-4 PROJECTIONFocus on invalidation level. My perspective, there's still a chance to reach 16200 (HH) before making Major Correction, i aggresively put the invalidation level as reducing the risk.
Elliott Wave is high subjective, i will post if there's a new update on my perspective.
Trade safe, Everyone!
Cheers.
XAUUSD H-4 PROJECTIONFOCUS ON INVALIDATION LEVEL.
I expect Gold make 1 more high (1992-2005) before making reaction as Wave 2, invalidation level as barrier that Wave 1 still not finish.
Check Related Link down below for early perspective.
Elliott Wave is high subjective, i will post if there's a new update on my perspective.
Trade safe, Everyone!
Cheers
NZDUSD → A combination of signals gives a reversal potential FX:NZDUSD makes a false break of 0.6381 resistance and forms a correction within the uptrend.
The price is testing the trend support, a reversal candlestick pattern is formed on the 4H timeframe.Collectively, we have a signal on the candlestick pattern, a false breakout of trend support and a false breakout of MA-200. Consolidation is formed above the mentioned moving average.
The price is testing 0.236 Fibo and most likely this zone can serve as a starting point. If the bulls are able to keep the price above this level in the current situation, we may see growth in the medium term.
Support levels: 0.236 fibo, MA-200, trend support.
Resistance levels: 0.382 fibo, 0.6305
I expect the currency pair to strengthen after fixation above the mentioned support line. Medium-term target is 0.6305 and 0.6381.
Regards R. Linda!