Get started

Trend Line Break

BTC/USDT - The moment of truthThe BTC/USDT chart highlights a crucial moment as the price breaks out of a bearish trendline and tests a Fair Value Gap (FVG) zone. Key scenarios include: - A potential continuation of the bullish trend if the price successfully holds above the FVG zone and confirms support. - Alternatively, a rejection at this level could signal a return to bearish momentum. Keep an eye on price action within the FVG zone for confirmation of the next move. Which way do you see BTC heading?
by Louigi_24
32
GOLD → Consolidation forms a trigger. Rally?FX:XAUUSD continues to rise amid weakening dollar demand due to Trump's imposition of new tariffs. GDP and Initial Jobless Claims ahead Gold is further supported by renewed concerns about a slowdown in the US economy due to trade duties. However, growth beyond ATH remains questionable due to geopolitical nuances. The market focus shifts to macroeconomic data: the final US GDP for the fourth quarter and jobless claims will be released today. Also the attention will be drawn to the speeches of the Fed representatives, who earlier made it clear that they are in no hurry to cut rates due to inflation risks caused by Trump's tariff policy Resistance levels: 3038, 3046, 3056 Support levels: 3033, 3025 The strong resistance is 3038. Breakdown and price consolidation above this level will provoke continuation of growth (there is a chance of ATH retest). But, since there is news ahead, gold may test the zone of interest and liquidity 3030-3025 before further growth. Regards R. Linda!
FX:XAUUSDLong
by RLinda
11
AUD/JPY 1D possible scenario Technical Analysis 1D The pair is testing a long-term downtrend resistance. A breakout could signal further upside. Key Levels: Support: 95.52 Resistance: 98.49 | 102.62 | 109.40 Fundamental Factors: Australian Dollar Strength: Driven by commodity demand and potential RBA rate decisions. Japanese Yen Weakness: BoJ’s ultra-loose policy keeps the yen under pressure. Risk Sentiment: AUD/JPY correlates with market risk appetite; stronger equities could support upside. A breakout above 95.52 may open the path toward 98.49.
Long
by TotoshkaTrades
BTC 4H setup : Potential Long Opportunity Trade Setup: Long (Buy) Position 📍 Entry: Look for an entry between 85,500 - 86,300 USDT once the 4H RSI shifts back upward. Price is currently testing the 200 MA as support, a potential bounce zone. The 1H RSI is upward but likely to dip slightly before aligning with the 4H timeframe for a buy signal. The dotted resistance line should be watched for confirmation. 🛑 Stop Loss: If price breaks and closes below 85,000 USDT, cancel the trade. Suggested stop loss around 84,700 USDT to manage risk. 🎯 Take Profit Targets: 88,500 USDT (previous resistance) 89,800 USDT (recent high) 📌 Trade Considerations: Wait for the 4H RSI to cross into the buy zone before executing the trade. Use the 12-hour chart for confirmation before entering. Lower timeframes (15M, 1H) can refine the entry for an optimal position. 📢 Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research before making any decisions.
Long
by infinity3168
GOLD → Price returns to the channel to form a bullish structureFX:XAUUSD is completing a correction, breaking channel resistance and consolidating above the downtrend line. Traders are waiting for economic data and tariff war actions Trump confirmed plans to impose retaliatory tariffs on April 2, limiting exemptions. The new duties have raised fears for the U.S. economy, which has weakened the dollar and boosted demand for gold.Markets are also keeping an eye on talks between the U.S., Ukraine and Russia.Focus is also on US durable goods orders data - a strong reading could cool expectations of a Fed rate cut, limiting gold's gains Resistance levels: 3033, 3045, 3056 Support levels: 3013, 3004 Gold may test the support zone before rising further. The focus is on the current consolidation 3033 - 3013. A key resistance is formed ahead, a breakdown of this zone may provoke a continuation of growth to 3045 - 3056. Regards R. Linda!
FX:XAUUSDLong
by RLinda
6
GBPUSD → Correction to the liquidity zone. Waiting for a FBFX:GBPUSD gets a negative CPI report in the early session and tests key support, but failing to reach the liquidity area a rebound is formed. The pair is in consolidation... The CPI report provoked a small liquidation in the market, within the framework of which the price tested one of the key supports at 1.2886, but the price did not enter the liquidity area, i.e. technically the chances to return to this area are quite high. A correction to the imbalance zone is being formed, from which the decline may continue. In the short term I am interested in 1.2868, which can still hold the market and form a bullish impulse. Resistance levels: 1.2926 Support levels: 1.2886, 1.2868, 1.2811 False break of the global range support at 1.2868 may trigger a rebound to 1.2926. I do not exclude a deeper correction to the support from D1, for example to 1.2811 from which, against the background of the bull market, we can wait for an upward correction. Regards R. Linda!
Long
by RLinda
3
IPUSDT → Exit from the triangle may trigger a distribution ofBINANCE:IPUSDT.P is forming positive preconditions for possible growth. Bitcoin slightly revitalized the market after positive news related to SEC and XRP (the crypto community did not miss this fact) The IP coin was in consolidation for a long time - a symmetrical triangle. Rising lows, consolidation, breakout of triangle resistance give positive signs of readiness for distribution (realization of consolidation). Ahead is the key resistance at 5.6297 separating the market from the free zone Resistance levels: 5.6297, 6.631 Support levels: 5.116, 4.783 Price has been sticking to triangle resistance for the past few days and is gaining potential for breakout and realization. Numerous intraday retests of the area indicate the market's interest to break beyond this zone. A breakout of 5.6297 and price consolidation above the triangle will be a good signal of readiness to go up. Regards R. Linda!
Long
by RLinda
2
XAUUSD: Battle for New Highs – Bullish or Bearish?🚨 Attention Traders!🚨 🔥 XAUUSD is on FIRE! Price action is 🔥, and we're seeing a major battle at 3004 - 3014! Will it break out? Bearish Alert 📉: If price dips below this zone, we could see targets around 2988 and 2998. Keep an eye on these support levels! Bullish Opportunity 📈: A breakout above 2911 could lead to buying opportunities! Watch for moves above 3025 with targets at 3035 and 3050. 💬 Join the convo! Share your thoughts & strategies — let’s ride the gold wave together and catch these opportunities! 🚀✨
OANDA:XAUUSD
by ANNA_EXPERT
GOLD → Tense fundamental environment and retest of 3025FX:XAUUSD is forming a correction within the descending channel. The situation is becoming complex and confusing. The focus is on the channel resistance and on the support at 3004.9. Further price movement depends on the fundamental data... The problem is the uncertainty around the US tariff policy and the outcome of talks between Russia and the US on ceasefire in Ukraine. The market is focused on US consumer confidence data and comments from Fed officials. The rise in the dollar, supported by Bostic's hawkish statements and strong PMIs, is pressuring gold, but the lack of clarity on tariffs and geopolitical tensions are limiting its further decline Technically, the situation is simple in that it all depends on the resistance of the current channel. A break and consolidation above 3025 will trigger growth. A false break of the channel resistance will provoke a continuation of the decline both to 3004 and to 2980. Resistance levels: 3024.6, 3038, 3056 Support levels: 3004.9, 2987, 2981 Based on the difficult fundamental environment, which is far from any positive decisions, the tensions in the Middle East, and the tariff war, I can conclude that gold will try to strengthen once again, as we have technical support: a strong bullish trend, a strong 3004 level, and a cascade of locally rising lows. A failed breakdown will be false and in this case, a price consolidation under 3017 will trigger a fall to 3004. Regards R. Linda!
FX:XAUUSDLong
by RLinda
12
Silver (XAG/USD) Double Top Reversal – Bearish Trading SetupThe provided 1-hour chart for Silver (XAG/USD) presents a well-structured bearish trade setup, highlighting key price action patterns, technical indicators, and confluence factors that suggest a potential downside move. Let's analyze the chart step by step to understand the logic behind this bearish trade setup. 1. Market Structure & Trend Overview Silver (XAG/USD) has been in a short-term uptrend, as indicated by the ascending trendline. However, the trend now shows signs of exhaustion, with a clear shift in market behavior. The price action reveals the formation of a double top at a strong resistance level, coupled with a Change of Character (CHOCH), which signals a possible reversal. A break below the trendline suggests that the bullish momentum is losing strength, and sellers are beginning to dominate the market. The combination of these elements makes this setup a high-probability short trade opportunity. 2. Key Technical Levels & Zones A. Resistance Zone ($33.96 - $34.20) – The Selling Pressure Area The chart marks a clear resistance zone, where price has struggled to break higher. Two price rejections from this level indicate that sellers are actively defending this region. This zone serves as an ideal stop-loss area for short trades, as a breakout above this level would invalidate the bearish setup. B. Double Top Formation – Reversal Pattern The price tested the resistance zone twice and failed to establish new highs, forming a double top structure. A double top is a well-known bearish reversal pattern, indicating a shift from bullish to bearish momentum. The second top (Top 2) aligns with a downward trendline, further confirming that sellers are stepping in at lower levels. C. Support Level ($32.60 - $32.80) – Initial Reaction Zone This area has previously acted as a demand zone where buyers stepped in. If the price breaks below this support, it would confirm further downside movement towards the final target. D. Trendline Breakdown – Loss of Bullish Momentum The dotted trendline represents the previous bullish trend, supporting price action for several days. A break below this trendline suggests a structural shift in market dynamics, meaning buyers are losing control. The failure to reclaim the trendline increases the probability of a deeper move downward. E. Target Level ($32.11 - $32.20) – The Bearish Objective The projected target is based on the double top’s measured move, which suggests a price drop to at least $32.11. This level also coincides with previous historical price action, making it a strong confluence zone for profit-taking. 3. Trading Strategy & Execution Plan 📌 Entry Point: Aggressive Entry: Short position around $33.40 - $33.50, near the second top where price rejected the trendline. Conservative Entry: Wait for a confirmed break and retest of the support level at $32.80 before entering short. 📌 Stop-Loss Placement: The stop-loss should be placed above the resistance zone at $33.96. This level ensures that the trade is invalidated if the price breaks out higher. 📌 Take-Profit Target: Primary Target: $32.60, which is the first support level where price may temporarily react. Final Target: $32.11, aligning with the double top breakdown target and historical support. 📌 Risk-Reward Ratio: A minimum 1:2 risk-reward ratio, meaning for every 1% risked, there is a potential 2%+ gain. This makes the trade favorable in terms of risk management. 4. Confluence Factors Supporting the Bearish Outlook ✅ Double Top Formation – A classic bearish reversal pattern. ✅ Lower Highs Formation – Indicates increasing selling pressure. ✅ Trendline Breakdown – A significant loss of bullish momentum. ✅ Resistance Zone Rejection – Strong seller presence. ✅ CHOCH (Change of Character) – Confirms a shift in market sentiment. 5. Risk Management & Alternative Scenario 📌 What If Price Moves Against the Trade? If the price breaks above $33.96, the bearish outlook becomes invalid, and a potential bullish continuation could follow. In this case: Stop-loss is triggered, and the setup is considered invalid. Traders should then wait for a new setup before re-entering the market. 📌 Market Conditions to Monitor: Volatility: Ensure there is enough momentum in the market before entering. Volume Confirmation: A break below support should have strong volume. News Events: Watch out for fundamental catalysts, such as US Dollar strength, economic data, and geopolitical events, which could influence Silver’s price movement. 6. Final Thoughts & Summary This chart setup provides a clear bearish trade opportunity based on technical analysis. The combination of double top formation, resistance rejection, trendline breakdown, and lower highs strongly supports the idea of further downside movement. 💡 Key Takeaways: Bearish bias is valid as long as price stays below $33.96. Target is set at $32.11, with an intermediate support at $32.60. Risk-to-reward is favorable, making it an ideal short trade setup. If the market follows this expected scenario, this trade has the potential to yield significant profit while maintaining disciplined risk management. However, always stay alert to market conditions and adjust strategies accordingly.
OANDA:XAGUSDShort
by GoldMasterTrades
EURUSD → Price is in consolidation. Emphasis on false breakdownFX:EURUSD is forming a correction within the consolidation that was formed on the uptrend. The reason for the consolidation is the halt in the movement of the dollar index... The dollar is forming a counter-trend correction due to political and econmoic data, but the general background is bearish. But, the fall of the dollar, to which the index may soon return, may strengthen the growth of the currency pair. EURUSD consolidation within the uptrend (against the background of the dollar index correction). The zone of interest is the support at 1.078 and the imbalance area Resistance levels: 1.078, 1.074 Support levels: 1.0936.1.1009 The price has not tested the support and is forming a correction to the imbalance zone 1.087 - 1.09 from which the price may return to the downward movement to 1.078. The emphasis is on the range support from which we should wait for a false breakdown before further growth. Regards R. Linda!
Long
by RLinda
5
GOLD → Long squeeze (false break of uptrend support) FX:XAUUSD within the liquidation the price is testing the key support at 3004.9 and forms a false break of support. The trend is generally bullish as the geopolitical situation remains tense and carries high risks. Friday saw a liquidation phase relative to the consolidation at 3024-3045. Reason: the White House is expected to revise tariff policy, easing measures against key trading partners. Negotiations over the conflict in eastern Europe, where the U.S. is a key link, also support the positive sentiment. On Monday, market attention will focus on Russia-US talks, as well as preliminary PMI data that could affect the global economic outlook. The focus is on the current consolidation and the 3024 level. If the bulls hold their defenses above this level, gold will continue to strengthen. Resistance levels: 3045 - 3056 Support levels: 3024, 3004 The growth within the bullish trend may continue. The price is forming a consolidation between trend support and resistance at 3024. The emphasis is on 3024, if the bulls hold the defense over this zone, gold may head for a retest of the high (the initial reaction to ATH may trigger a pullback down) Regards R. Linda!
FX:XAUUSDLong
by RLinda
5
EUR/JPY – Double Bottom Breakout & Trendline Retest, Trade Setup📊 Chart Type: 1-Hour (H1) 💹 Asset: EUR/JPY 📈 Technical Patterns: Double Bottom, Trendline Breakout, Retest 📌 Overview of the Chart The EUR/JPY chart showcases a bullish reversal setup, characterized by a Double Bottom pattern, a trendline breakout, and a successful retest. This combination suggests a potential continuation towards higher price levels, making it an ideal setup for traders looking for breakout entries. The price action initially followed a downtrend, but buyers stepped in at key support zones, leading to the formation of a strong reversal pattern. Now, the price is testing a key resistance level, and if it breaks out, we could see a significant upward move. 🟢 Key Technical Analysis Breakdown 1️⃣ Double Bottom Formation – A Bullish Reversal Signal 🔹 The Double Bottom is a classic reversal pattern that forms after an extended downtrend. 🔹 In this case, price found strong support at 160.139, forming two lows (Bottom 1 & Bottom 2), indicating buyer dominance. 🔹 The confirmation of the pattern comes with a break above the neckline at around 162.000, suggesting a shift from bearish to bullish momentum. 2️⃣ Trendline Breakout & Retest 🔹 A descending trendline had been acting as dynamic resistance, pushing prices lower. 🔹 Recently, the price broke above the trendline, signaling a potential trend shift. 🔹 Now, price is retesting the trendline, which is a key factor in confirming whether the breakout is valid. 🔹 If the retest holds, it could trigger a strong bullish move towards the next resistance zone. 📍 Support & Resistance Zones 🔹 Support Level (160.139): The lowest point in the chart, where price tested twice and formed the Double Bottom. Buyers stepped in aggressively at this level, preventing further decline. Stop Loss Placement: Below this support zone for long trades. 🔹 Resistance Zone (163.725 - Target Level): The previous swing high and a major supply zone. A breakout above this area could lead to further bullish momentum. 📈 Trading Strategy – How to Trade This Setup? ✅ Bullish Trade Setup (Breakout & Retest Confirmation) This setup is ideal for traders looking to capitalize on breakout and retest strategies. 📌 Entry: Wait for a strong bullish candle to confirm the retest of the trendline. A break above the 162.500 level could be a good entry confirmation. 📌 Target: First target: 163.725 (Resistance Zone). If momentum continues, the next upside target could be around 164.500. 📌 Stop Loss: Below 160.139 (previous support level) to minimize risk. Alternatively, place it below the trendline retest zone if entering aggressively. 📌 Risk-to-Reward Ratio (RRR): This trade offers a strong RRR, as the downside risk is limited, while the upside potential is higher. 🔴 Bearish Scenario – What if the Retest Fails? While the bias is bullish, traders must be prepared for a fake breakout scenario. If price fails to hold above the trendline and neckline, the structure might break down. 📌 Bearish Entry: If price rejects the retest zone and closes back below 161.500, it could indicate a false breakout. 📌 Target: 160.139 (Support Level). 📌 Stop Loss: Above the trendline retest zone to protect against unexpected bullish moves. 🔎 Key Takeaways & Final Thoughts ✅ The Double Bottom pattern signals a potential trend reversal. ✅ The trendline breakout & retest adds further confirmation to the bullish bias. ✅ A breakout above 162.500 could accelerate buying pressure toward 163.725. ✅ Risk management is essential: A well-placed stop loss below the support level ensures minimal downside risk. ✅ If price rejects the retest zone, traders should be prepared for a possible bearish reversal. 📌 Overall Bias: Bullish ✅ 📌 Trade Confirmation: Needs trendline retest hold + bullish breakout 📈 📌 Key Level to Watch: 162.500 (Breakout Confirmation Zone) 🔥 💡 Pro Tip : Always wait for confirmation before entering a trade. A strong bullish candlestick pattern (e.g., engulfing candle) on the H1 or H4 timeframe could provide extra confidence in the setup! 🚀
Long
by GoldMasterTrades
Trading Setup for CHF/USD – Triple Bottom Breakout Strategy📌 Chart Pattern: Triple Bottom with Trendline Breakout This CHF/USD chart showcases a triple bottom formation, a bullish reversal pattern that signals a potential uptrend after three consecutive lows at a strong support level. The price action respects this support zone and attempts a trendline breakout, suggesting a shift in momentum from bearish to bullish. 📊 Full Chart Breakdown & Professional Analysis 1️⃣ Key Levels & Structure: ✅ Support Level (1.1300 - 1.1270): The price has tested this region three times, indicating strong buying interest. This forms a triple bottom, a reliable reversal pattern in technical analysis. ✅ Resistance Zone (1.1400 - 1.1420): The price previously reversed from this zone, making it a key short-term resistance level. ✅ Target Level (1.1457): A breakout above resistance could drive the price toward this measured move target, representing a 1% potential gain. ✅ Stop Loss (1.1269): Placed below the support zone to minimize risk in case of a breakdown. 2️⃣ Price Action & Trendline Breakout: 📌 Triple Bottom Formation: Price hits the same support level three times, signaling strong demand. Each bounce from support indicates a gradual weakening of bearish momentum. 📌 Trendline Breakout: The price broke a downward-sloping trendline, suggesting a potential bullish move. A successful retest of the trendline could confirm further upside. 📌 Expected Move: Scenario 1: Price confirms the breakout, retests, and moves toward resistance. Scenario 2: If resistance is broken, price targets the next major level at 1.1457. 3️⃣ Trading Strategy – How to Trade This Setup? 🎯 Buy Entry: Enter long after a confirmed breakout and retest of the trendline. 📉 Stop Loss: Below 1.1269 (beneath triple bottom support) to limit downside risk. 🎯 Take Profit Targets: Target 1: 1.1400 (Resistance Area) Target 2: 1.1457 (Measured Move Projection) 💡 Risk-Reward Ratio: Favorable risk-reward ratio of 1:3, making it an attractive setup for traders. 4️⃣ Market Psychology Behind This Move: Bears losing strength: Multiple failed attempts to break support indicate sellers are exhausted. Bulls gaining momentum: Trendline breakout shows buyers are stepping in with confidence. Breakout confirmation: If resistance breaks, a strong rally toward 1.1457 is likely. 📌 Summary: Bullish CHF/USD Trade Idea 🔹 Pattern: Triple Bottom + Trendline Breakout 🔹 Entry: Buy on retest confirmation 🔹 Stop Loss: 1.1269 🔹 Target: 1.1400 & 1.1457 🔹 Risk-Reward: Favorable 1:3 setup 🚀 This is a high-probability trade setup with strong technical confirmation, making it a great opportunity for breakout traders! 🚀
Long
by GoldMasterTrades
STRONG REVERSAL COMMING FROM NEW ATH ALERT!📈 Description: This is a 2-hour timeframe analysis of Gold, the market is currently consolidating between a strong support zone 📉 and a weekly high resistance level 📈. Two possible breakout scenarios can be expected: ✅ Bullish Scenario: If the price holds the strong zone at 3028 and gains momentum, it may break out above the weekly high 🚀. ❌ Bearish Scenario: If the price breaks below this strong support zone i.e 3028, it could trigger a downward move toward a lower support level 📉. 👀 Traders should watch for breakout confirmations before entering trades! 📊📉📈 follow risk management
TVC:GOLD
by ANNA_EXPERT
Reminder - Bitcoin back below these trendlinesI encourage you guys to draw these trendlines on your chart and experiment by doing some exercises. 1. Draw the main two trendlines. 2. Spend time on each by duplicating it, keeping the angle the same, and moving it to different spots on the chart. Notice how Bitcoin works on this ascending diagonal support resistance structure. You’ll find that the correct trendline can be duplicated infinitely and the price respects it at any point you place it. 3. Notice that price consolidates on these ascending lines. We see breaks above or below depending on the stop losses from futures positions and liquidity that’s collected. In other words, a break above doesn’t invalidate it. 4. Notice that Bitcoin moves above and below these trendlines. 5. It’s in my opinion that THIS is the structure that explains why Bitcoin isn’t moving higher, telling me the market wants to keep price below these trendlines and take back the liquidity in these zones (look at my previous posts for liquidity maps) Personally this is still my trade. God bless and may you live to trade another day!
Short
by DickDandy
JPY/USD Technical Analysis - Head & Shoulder Chart Bearish Move1️⃣ Chart Type & Timeframe: Market: Japanese Yen (JPY) / U.S. Dollar (USD) Timeframe: 1-hour chart (H1) Platform: TradingView This is an intraday chart used by traders to identify short-term price action and trend reversals. 2️⃣ Identifying the Key Chart Pattern – Head & Shoulders The dominant pattern on this chart is the Head & Shoulders (H&S), a well-known bearish reversal signal that forms after an uptrend. Let’s break it down: A. Formation of the Pattern Left Shoulder: The price forms a peak, then retraces down to a support level. Head: A higher peak is formed, followed by another decline, indicating buyers are losing control. Right Shoulder: The price attempts another rise but fails to reach the previous high, showing bearish momentum is increasing. B. Neckline & Trendline Support The neckline acts as a key support level. A break below it confirms the bearish move. The trendline, which has been supporting price action for a while, is also at risk of breaking. 3️⃣ Key Support & Resistance Levels Resistance Level (0.006750 - 0.006819): This is the previous high area where sellers are active. A stop-loss is placed above this level. Support Level (0.006567 - 0.006468): Key demand zones where buyers may step in. These are the take profit (TP) levels. 4️⃣ Price Action & Expected Movement 📉 Bearish Outlook – A potential breakdown from the neckline and trendline would confirm further downside. If price breaks the trendline, a pullback to retest resistance is expected before dropping further. Take Profit (TP) 1: 0.006567 – Minor support, possible bounce. Take Profit (TP) 2: 0.006468 – Stronger support, deeper correction possible. 🚨 Stop Loss: Above 0.006819, just beyond the right shoulder and all-time high (ATH). 5️⃣ Trading Strategy & Execution 💡 Entry Strategy: Sell Breakout Entry: Short the market when the neckline/trendline is broken with strong volume. Retest Confirmation: Wait for a pullback to the broken trendline and enter when price rejects it. 📌 Risk Management: Risk-to-Reward Ratio: 1:2 or higher for an optimal setup. Use trailing stop-loss to secure profits if TP1 is hit. 6️⃣ Market Psychology & Smart Money Behavior The Head & Shoulders pattern reflects buyer exhaustion and increased seller strength. Smart money often enters after the breakdown when weak hands get stopped out. Conclusion: Trade with Confidence! This chart presents a high-probability bearish trading opportunity based on a textbook Head & Shoulders formation, support/resistance dynamics, and trendline analysis. A disciplined approach with risk management will ensure better execution. 📉 Final Verdict: Bearish Breakdown Expected – Sell the Retest! 🔥 Tags for TradingView Idea: #JPYUSD #ForexTrading #HeadAndShoulders #TechnicalAnalysis #BearishReversal #SmartMoney #PriceAction #RiskManagement #TradingSetup #TrendlineBreak
Short
by GoldMasterTrades
BITCOIN → Flag (consolidation) before falling to 78-73KBINANCE:BTCUSD is consolidating after a short-squeeze relative to 85-87K. A bearish set-up is being formed, the break of which may strengthen further decline to the key target of 73K A symmetrical triangle is forming within the downtrend on D1, a breakdown of this structure may strengthen the decline. Locally, within the channel a flag - bearish figure is formed (on the local TF false uptrend, the crowd enters to buy from the support or at the break of local resistance, at accumulation of the necessary potential the big player removes the limit order and releases the price, which is dispersed by liquidation of traders), regarding 85K-86.6K the liquidity capture is formed and the price returns to the selling zone. Consolidation below 85K may trigger a breakdown of the figure support and further fall to 80K-78K Fundamentally: the market sells off any positive news very quickly (negative background is created): crypto summits, (Trump said nothing new at the second summit) positive resolutions of problems (for example between SEC and XRP, or removal of restrictions from local exchanges) crypto reserve The only nuance, bitcoin's dominance index is still high despite the price drop... Resistance levels: 85150, 866700, 89400 Support levels: 82K, 80K, 78200 There are no positive signs for growth. The zone where we can consider a trend reversal ( if something supernatural happens ) is 89-91K, but it is very far away. But now I would consider a breakdown of the flag, or 83.5 - 82.5 and price consolidation below this zone with the purpose of further fall to the local important level 78173. Then another consolidation or correction is possible before a further fall to 73.5K Regards R. Linda!
BINANCE:BTCUSDShort
by RLinda
45