Crude oil Is Approaching ResistanceCrude oil is coming higher on 4h time frame, out of a wave B bullish triangle that we have been tracking through December. Well, we know that moves out of a triangle are final in a sequence, so we can expect limited upside, and ideally, this will cause the completion of wave E rally of a larger bearish triangle pattern. It's now approaching an important resistance at 74-75, its gap from mid-October, right at the upper side of a triangle. There is a chance for a turn soon.
A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. It’s a region of horizontal price movement, a consolidation of a prior move, and it is composed of “threes.” That means each of the A-B-C-D-E waves have three subwaves. The triangle pattern is generally categorized as a continuation pattern, meaning that after the pattern completes, it’s assumed that the price will continue in the trend direction it was moving before the pattern appeared. However, triangles also indicate that the final leg is coming before a reversal and that’s why triangles are labeled in wave B, wave X or wave 4.
Technical Analysis
DOGE ANALYSIS🔮 #DOGE Analysis
🌟🚀 #DOGE is trading in an Ascending Triangle Pattern and here we can see that #DOGE testing the ascending trendline. Also there is an instant major support zone. We can see a pullback from its major support zone.
🔖 Current Price: $0.34820
⏳ Target Price: $0.41960
⁉️ What to do?
- We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀
#DOGE #Cryptocurrency #Breakout #DYOR
Will BTC Dive to $88K ? Bitcoin Breakdown Alert & Bearish SetupBitcoin has broken down from a well formed rising channel, signaling a potential bearish continuation. The heavy rejection near the $100,000 psychological level followed by a drop to $96,000 indicates strong selling pressure. The price is now trading below a key support-turned-resistance at $97,200.
Key Levels
Resistance Zone: $97,200
Current Price: $96,498
First Support Target: $90,000 - $91,000
Final Support Target: $88,400
Technical Insights
1. Rising Channel Breakdown
The price broke below the lower trendline, suggesting a bearish reversal. Rising channels often precede significant downside moves.
2. Failed Support Retest Possibility
There is a likelihood of a retest of the $97,200 resistance zone before continuing the downward movement. This can provide a new shorting opportunity.
3. Bearish Momentum Indicators
The recent high-volume sell-off reflects weakening market sentiment. Additional rejection near resistance would increase the probability of testing lower levels.
4. Market Instability
The current instability points to further downside risks, particularly if global macroeconomic factors or crypto market sentiment do not improve.
Potential Trade Idea
Entry (Short): Near $97,000 $97,200 on a retest
Stop Loss: Above $98,000 to minimize risk
Target 1: $91,000
Target 2: $88,400
This trade offers a favorable risk-to-reward ratio if the retest scenario plays out. Traders should monitor volume and any bullish reversals cautiously.
Bitcoin appears poised for further downside movement, with key levels to watch closely. Market participants should remain vigilant as volatility may increase in the coming days.
Analysis of USOIL and Falling Wedge Breakout PotentialThe forex pair USOIL is currently priced at 75.000, with a target price set at 103. This indicates an expectation of significant upward movement. The technical pattern in focus is the Falling Wedge, a bullish reversal pattern often found in downtrends. In this setup, the price consolidates between converging trendlines, suggesting decreasing momentum in the downward movement. A breakout above the resistance line typically signals a trend reversal.
Traders anticipate a breakout in this case, leading to a potential rally towards the target. This scenario implies increased buying pressure and positive market sentiment. Risk management is crucial, as breakouts can sometimes fail. Confirmation of the breakout, such as strong volume or a clear candle close above resistance, adds reliability to the trade setup. Monitoring key levels closely will help refine the strategy.
Potential uptrend for $AMDNASDAQ:AMD has encountered resistance and is now transitioning to a potential uptrend. The price target is set at $160. However, we cannot rule out a decline, which would occur if the resistance is broken to the downside.
Additionally, we currently have neutral news, which should support the price in aiming for an increase, as we see a clear undervaluation.
NASDAQ Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring NAS100 for a buying opportunity around 20,900 zone, NASDAQ was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 20,900 support and resistance area.
Trade safe, Joe.
#NIFTY Intraday Support and Resistance Levels - 08/01/2025Flat opening expected in nifty near the 23750 level. No major changes in yesterday's levels due to the consolidation movement. Expected downside movement if nifty trading below 23750 level this downside movement can goes upto 23550 level. Any major upside rally only expected above the 23800 level.
[INTRADAY] #BANKNIFTY PE & CE Levels(08/01/2025)Flat opening expected in index. Banknifty trading in the consolidation zone of 50050-50450 level. Downside 50000 zone level is indicating strong support for banknifty. In case banknifty starts trading below this support level then expected strong downside movement in market of 400-500+ points. Any major bullish rally only expected above 50550 level.
UMA ANALYSIS📊 #UMA Analysis : Update
✅As we said earlier, #UMA performed same. Around 80% move done in #UMA. There was a formation of Descending Channel Pattern on weekly chart with a breakout🧐
Current we can see a little retest and then we could target for next resistance
👀Current Price: $2.890
🚀 Target Price: $3.800
⚡️What to do ?
👀Keep an eye on #UMA price action and volume. We can trade according to the chart and make some profits⚡️⚡️
#UMA #Cryptocurrency #TechnicalAnalysis #DYOR
GBPUSD Analysis: Bullish Breakout from Falling WedgEThe forex pair GBPUSD is currently trading at 1.25600, with a target price set at 1.28000, indicating a potential gain of over 200 pips. The price action showcases a falling wedge pattern, a bullish reversal formation, which has already broken out to the upside. This breakout confirms a shift in momentum, aligning with the bullish prediction made in prior analysis. Falling wedges typically suggest decreasing bearish pressure, paving the way for buyers to dominate. The breakout signifies a strong upward move, reinforcing confidence in the target price. Traders may see this as an opportunity to capitalize on the bullish trend. However, market conditions, such as economic data or geopolitical events, should still be monitored. Proper risk management remains essential to mitigate potential losses. This setup highlights the importance of technical analysis in identifying profitable trading opportunities.
TSM: Growth and Charts Align for 15%+ Target?Hey Realistic Traders, Will NYSE:TSM Create a New All-Time High? Let’s Dive In....
TSMC is the world’s largest contract chipmaker. Recent Earning Call reported whooping third quarter revenue of $759.69 billion, marking a YoY increase of 36.5%. The performance is beating the market forecast. Double Digit Revenue Growth is driven by demand for AI Chips especially with major client like NVIDIA & Apple and 3-nanometer &5 nanometer technology in Smartphones. TSMC Chief Financial Officer Huang Renzhao shared optimistic project for the company. TSMC expect Q4 quarterly revenue growth of approximately 13%, sligtly above the market the market expectation.
Strong AI-Related demand predicted to persist for year, inlined with the company’s perfomance and expectation. The positive sentiment support our bullish call on NVIDIA.
Technical Analysis
On the daily timeframe, TSM has remained above the EMA200 line for over a year, maintaining its bullish trend. On August 5, 2024, TSM rebounded impulsively from the EMA200 line after completing an ABC correction pattern, signaling the start of a new bullish wave.
The second and fourth corrective waves have retraced to the Fibonacci 0.382 and 0.618 golden ratios, respectively, aligning with Elliott Wave rules that typically indicate further upward movement.
In addition to the Elliott Wave analysis, a breakout from a Descending Broadening Wedge pattern has been identified. Such breakouts often signal the continuation of the prevailing market trend.
Therefore based on these technical analysis, I foresee a potential upward movement toward the first target at $217.85 or second target at 234.46
This outlook remains valid as long as the price holds above the stop-loss level at 177.95
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Taiwan Semiconductor."
[INTRADAY] #BANKNIFTY PE & CE Levels(07/01/2025)Today will be gap up opening expected in banknifty. Possible it will open near 50450 level. After opening it will face immediate resistance at this level and expected downside from this level upto 50050 and this downside can extend for further 400-500+ points in case banknifty starts trading below 49950 level. Any upside rally only expected if banknifty starts trading and sustain above 50550 level.
XRP/USDT Bullish Pennant Formation in ProgressThe chart illustrates a textbook Bullish Pennant pattern, suggesting the potential for upward price movement. Currently, the price action is encountering resistance near the upper trendline, indicating that a breakout may require additional consolidation.
Key Observations
1. The pennant formation remains structurally intact, with the price consolidating within a narrowing range.
2. A confirmed breakout above the upper trendline is essential to validate the bullish thesis and initiate a sustainable upward move.
3. Upon a successful breakout, the projected target lies between $2.80 and $3.00, aligning with historical resistance levels.
Strategic Implications
Patience and discipline are paramount. Monitor closely for a decisive breakout with strong volume confirmation. Until then, be prepared for further consolidation or a potential retest of the lower trendline as the market gathers momentum.
Tue 7th Jan 2025 Daily Forex Charts: 4x New Trade SetupsGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified 8x new trade setups this morning. As usual, you can read my notes on the charts for my thoughts on these setups. The trades being a AUD/USD Buy, EUR/USD Buy, GBP/USD Buy & NZD/USD Buy. I also discuss some trade management. Enjoy the day all. Cheers. Jim
Bitcoin - A quarter of a million dollars - is it possible?Good Morning, Good Evening!
A new year brings new candles, new opportunities and new challenges. I decided to write down my new thoughts and, where appropriate, reflect on my previous analyses.
Naturally, my primary focus is on the asset that leads the cryptocurrency market – Bitcoin.
I must mention that I am not someone with formal education in this field. I am self-taught, placing a strong emphasis on using Technical Analysis as the main component of my decision-making process. This stems from my belief that although the chart is difficult to read, it largely allows for the interpretation of the hidden intentions of "smart money." I want to stress that the following words reflect only my personal point of view, which may not be correct, and that this publication is by no means investment or educational advice as understood by any law regulating such matters. I simply intend to ramble about topics I don’t fully understand.
Background
Since its inception, Bitcoin has been in a continuous long-term upward trend. Throughout this time, there have been four minor reaccumulation structures and four major ones, occurring chronologically. Each structure has taken progressively longer to form, and the upward trend has been gradually flattening over time.
Technical Analysis and Thoughts
In this analysis, I will apply tools from volume analysis, Wyckoff methodology, Volume Spread Analysis (VSA), and Elliott Wave Theory.
At the beginning, I will refer to an analysis I published about a year and a half ago on this platform: "Comparative Analysis of BTC," 24.09.2023 (links attached).
Looking back at my previous analysis, I see that my reasoning and chosen tools were correct. As is often the case in attempts to master the market using Technical Analysis, the price action deviated from the expected scenario. However, the primary trend remained intact.
I missed certain key structures, such as the Spring, which I would interpret differently today. But I will get to that later.
The key resistance levels, derived from price structure and Fibonacci extensions, appear to have been recognized by the market. The price stalled just below the resistance level at 2.618, an extension based on the Spring-Buying Exhaustion range from 2015 and 2017/2018 reaccumulation phases.
Similarly, the external measurement of 1.618, calculated from the 2017/2018 Spring to the 2021 Upthrust, was respected by market participants. Both levels align perfectly with significant price points.
I mentioned that today I would approach the topic differently. This is due to the revealed market structure (it's always easier to analyze when you can see everything, right? 😉) as well as the experience I've gained by continuously expanding my analytical horizon.
Looking at the latest high-order reaccumulation structure (December 2021 – March 2024), I realize I made an error in my interpretation. The overall price action indicates a lack of supply around the $16K level.
Interestingly, BTC/USDT on Binance shows significant accumulation, which I deduce from Bag Holding candles.
The core point of my argument is that I have witnessed the formation of a large accumulation structure, whose elements align with the Wyckoff methodology. The market behaved as expected based on this interpretation.
One particularly important element is the Last Point of Supply (LPS), represented by the March 2024 – November 2024 reaccumulation phase. I discussed this process in detail in my September 6, 2024 publication titled "Bitcoin – Technical Analysis."
The ~250-day trading range, during which the price was stuck, allowed Smart Money to accumulate assets from those willing to sell. Despite the temporary stagnation, which I currently observe, the upward trend will likely continue.
The strength of this trend is confirmed by the use of volume-weighted average price (VWAP) anchored to the Test of Phase C, according to Wyckoff's methodology.
When analyzing the three most recent tests in the three highest-order reaccumulation structures, I observe that the price moves within a channel defined by the second and third standard deviations.
I think that the current sideways structure is a Back Up to the Creek from the latest high-order reaccumulation phase. Its characteristics resemble a reaccumulation phase.
At this stage, I am unsure whether this structure will directly lead to a breakout to significantly higher price levels, or whether it will result in an Upthrust of a higher-order structure, followed by another Spring.
The structure shows declining volume and several Bag Holding candles, marked with green arrows on my chart.
The Upthrust does not exhibit distribution characteristics but instead suggests a lack of demand.
The candle marked with a question mark is interesting due to its dual nature. However, upon closer examination of the 4-hour interval, it appears to be an Upthrust of a lower-tier structure, aimed at absorbing supply.
I want to highlight the relationship between the Test of Phase C and the structure forming along previous peaks.
Considering the two most recent reaccumulation phases, the situation is as follows:
I do not take into account overly optimistic price movements that exceed the 8.0 external retracement level, due to the flattening of the global trend over time.
Instead, I consider more realistic targets based on Fibonacci levels, such as 3.618 and 2.618 extensions, indicating a price range between $170K and $230K.
In my September 24, 2023 analysis, I mentioned $240K as a 3.618 external retracement level measured from March 2020 to October 2021.
Using 1:1 geometry, I estimate that the price could reach around $250K, which aligns with my other methods.
Conclusion of the Analysis
I have presented various methods to identify the direction and potential range of Bitcoin's price movement.
Although it is difficult to pinpoint the exact peak of the trend, the analysis provides sufficient signals to expect supply levels within the indicated price ranges.
Confirmation of a trend reversal would require a high-order distribution structure visible on higher time frames.
Final Thoughts
I have intentionally referred to my previous analyses to maintain continuity and to highlight both successes and mistakes.
The purpose of this reflection is to improve my analytical process by identifying what I did well and where I need to focus more in future analyses.
I believe that Technical Analysis, practiced for over a century, holds a certain beauty and logic. The process of applying it, and reaping its rewards, is an intellectual delight.
Ultimately, the weakest link is not the tool, but the person using it. Therefore, continuous improvement and patience are essential. The chart is the only reliable source that reveals the intentions of Smart Money or Composite Man, depending on the interpretation of market personality.
Thank you to everyone who has taken the time to read my thoughts. I hope you found them insightful, and that your time was well spent.
Wishing you health, perseverance, and successful trades.
May you master the art of recognizing well-formed market structures.
CatTheTrader
Block (SQ): Preparing for a Breakout Year in 2025NYSE:SQ is shaping up to either become one of the top picks for 2025 or face a potentially challenging year ahead.
From the monthly chart, NYSE:SQ has mostly traded between $100–$35 since its IPO in 2015. While the $35 level seems unlikely to be revisited anytime soon, the current focus is on reclaiming the Value Area High (VAH) at $100. Success here could trigger strong percentage gains over the next few months.
We’re adopting a cautious approach, closely monitoring the chart. On the lower time frame, NYSE:SQ is sitting in a key support/resistance zone (highlighted as a yellow box). Ideally, we want to see a break above the Value Area Low (VAL) and the completion of a smaller 5-wave cycle, marking the end of wave (i). A bearish divergence on the RSI at this stage would add confluence. Following this, a pullback could provide the perfect entry point for a long position.
At this time, we haven’t placed a limit order. A break below $55 would be a critical red flag, suggesting potential bearish developments, though this scenario seems unlikely without unexpected negative news.
GBPUSD Potential DownsidesHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.25600 zone, GBPUSD is trading in an downtrend and currently is in a correction phase in which it is approaching the trend at 1.25600 support and resistance area.
Trade safe, Joe.
EURUSD Potential DownsidesHey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.05000 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.05000 support and resistance area.
Trade safe, Joe.
TradeCityPro | ICPUSDT Missed the Market Move? Don’t FOMO👋 Welcome to TradeCityPro Channel!
Let’s analyze the market during a day when it has finally shown some movement, focusing on coins with clear triggers.
💥 Avoid FOMO
The reason we create daily content for this community is to emphasize the importance of analyzing the market daily and identifying triggers before taking trades. This prevents you from acting impulsively and becoming a profit target for others who entered earlier.
🌐 Overview Bitcoin
Before analyzing today’s altcoin, let’s quickly review Bitcoin on the 1-hour timeframe. As mentioned yesterday, Bitcoin’s movement was predicted. After breaking the 98606 trigger, a long position with a stop loss at 97343 was suggested, considering the potential for whale-driven moves at higher levels.
Additionally, if Bitcoin dominance broke the 57.08 resistance, opening positions on Bitcoin was the preferred approach. Otherwise, a switch to altcoins was recommended.
Here’s my position: R/R 3. The triggers I share are the same ones I use in my trades. Remember, not every day requires action!
If you missed the move, should you open a long position after breaking 102208? Not yet. While the current timeframe suggests caution due to overbought conditions, you can consider this on the 15-minute chart. My recommendation: focus on identifying altcoin triggers to stay ahead of the market.
📊 Weekly Timeframe
ICP has seen a significant move since its support at 2.868, rallying by around 400%. Recently, it has consolidated and established strong support at 6.603, which aligns with the 0.5 Fibonacci level and the 50% Dow Theory level, highlighting its importance.
If you entered at lower levels, consider taking out your initial investment or exiting below 6.603. If you bought after the 9.684 breakout, patience is key. Given the potential for an early breakout above 14.879, maintain a stop loss at 6.603.
For re-entry, a break above 9.684 signifies a lift-off from the midline of its horizontal range, suggesting a stronger likelihood of breaking 14.879. Increased volume confirmation post-breakout can validate a buying opportunity.
Let’s address the fake breakout at 14.879. Unlike the 2.868 level, which saw sustained price action and a move upwards post-daily box formation, the 14.879 breakout was merely a single candle spike followed by an immediate reversal.
📈 Daily Timeframe
ICP remains in its large range box, oscillating between 6.691 and 15.22. A sharp move is expected upon breaking either the upper or lower boundary of this range.
ICP has already begun moving after breaking its smaller box resistance at 9.834. It has retested this breakout, unlike some coins that re-enter their boxes, underscoring ICP's bullish momentum compared to peers.
Currently, ICP faces resistance at 12.409, which was previously ignored but has regained significance. Staying above 11.281 provides an opportunity for small preemptive buys, but the main trigger remains 15.22.
⏱ 4-Hour Timeframe
ICP’s chart looks promising, as it has broken out of its 4-hour box and is consolidating below the next resistance level, presenting a potential entry trigger.
Drawing Fibonacci levels from the start of the drop reveals reactions at all levels. Currently below 0.618, breaking this level could propel ICP to the 13.697 resistance. Remaining above 11.333 and the 0.382 Fibonacci level highlights the importance of the 12.476 resistance.
📈 Long Position Trigger
If you didn’t open a position at 11.333, it’s still fine. Momentum has entered this chart. After breaking 12.476, you can open a long position with a tighter stop. Ensure volume increases and RSI enters overbought territory to manage risk.
📉 Short Position Trigger
Currently, I’m not planning any short positions. If 12.476 faces a fake breakout and reverses, I’ll look for short setups in lower timeframes using a fake breakout strategy.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️