BTC Sustained BuysBtc has shifted into a state of consolidation which suggests that some profit taking is occurring right now.
BUT
This also means that orders are being acquired - as this is one of the main purposes and causes of what we see as consolidation.
Traders becoming interested in both buys and sells at the same time. In hopes that it would actually either buy or sell.
I can see a reality in which a trader can make a case for both buys and sells here although if I am being honest. Buys definitely make more sense to me.
As the momentum is clearly bullish and this consolidation is simply a way for the market to capture some liquidity so that it can continue with what is has been doing all along.
Another reason I believe that buys make more sense is because if we look at the green zone (Where price seemingly reversed) we can say that in fact in didn't reverse as if it did it would have not only dropped much further, quicker but it would not be floating at such a high price just after a "would be" reversal.
Remember the purpose of a reversal is to get rid of traders who were following the trend all the time, which means it needs to happen quickly or else the market risks those same traders catching on to the trick (manipulation).
I believe the green line is plausible for BTC's next move. Take out buyers below this current consolidation and then continue bullish from here - most likely beyond the high (green zone)
Buy
USOIL Will Grow! Buy!
Take a look at our analysis for USOIL.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 68.870.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 70.475 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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NZDCAD Will Go Up From Support! Long!
Here is our detailed technical review for NZDCAD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.820.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.825 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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now time to buy gold for nice swing Trade Description for Buy Position on XAU/USD
Position Type: Buy
Trading Instrument: XAU/USD (Gold)
Entry Price: (Please specify the entry price if you have one)
Stop Loss Level: 2524
Take Profit Level: (Consider setting a take profit level based on your target by the level on chart )
Trade Rationale: (You may include reasons for entering this trade, such as bullish market trends, economic indicators, or technical analysis signals.)
AUD/USD SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
AUD-USD downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 0.653 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the AUD/USD pair.
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NZD/USD BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
NZD/USD pair is in the downtrend because previous week’s candle is red, while the price is evidently falling on the 4H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 0.592 because the pair oversold due to its proximity to the lower BB band and a bullish correction is likely.
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EURNZD Will Go Higher From Support! Long!
Please, check our technical outlook for EURNZD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.785.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.790 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
We are going long on the GOLD with the target of 2,783.207 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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GBP/USD BEST PLACE TO BUY FROM|LONG
Hello, Friends!
We are now examining the GBP/USD pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 1.287 level.
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EUR/USD LONG FROM SUPPORT
Hello, Friends!
Previous week’s red candle means that for us the EUR/USD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 1.078.
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ETH Gearing Up for $4,000?The ETHUSDT chart shows a potential bullish scenario, with Ethereum forming a rounded bottom pattern on the daily timeframe. Currently trading around $3,333, ETH has rebounded significantly from its previous lows, indicating a strong upward momentum.
Key Points to Consider:
Rounded Bottom Formation: This pattern typically suggests a reversal of the downtrend, hinting at a possible sustained upward movement if the formation completes.
Fibonacci Levels: The chart marks key Fibonacci retracement levels, which could act as future support or resistance. The target at the 1.618 Fibonacci extension is around $4,008, suggesting a potential upside if ETH breaks through resistance levels.
Resistance at $4,000: The area around the $4,000 mark could pose significant resistance, which aligns with the completion of the rounded bottom. Breaking through this level might signal a stronger bullish continuation.
Potential Strategy: Traders might consider looking for a breakout above the $3,386 level as an entry point, with an initial target near $4,000. However, a failure to hold above key support levels could indicate a reversal, so close monitoring is advised.
Bitcoin Eyes $100K – Next Stop in the Bull Run?Currently, Bitcoin is trading within a strong upward trend, breaking past previous resistance zones. If the price holds above the $73,829 level (the 1 Fibonacci level), it suggests a clear path toward the next Fibonacci extension at the 1.618 level, around $103,898.
The structure on the chart shows a steady formation with higher lows and recent bullish momentum. The area around $73,829 serves as a critical support level, and any retracement toward this level could present a buying opportunity for further upward movement.
Should Bitcoin continue to gain momentum, a push toward the psychological $100,000 mark could be within reach, potentially marking a historic level for BTC traders and investors.
GBPJPY Is Approaching The Main Trend.Hey Traders, in today's trading session we are monitoring GBPJPY for a buying opportunity around 196.500 zone, GBPJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 196.500 support and resistance area.
Trade safe, Joe.
A 14% drop in $VKTX and I might still win. Here's why! NASDAQ:VKTX
A 14% drop in NASDAQ:VKTX and I might still win. Here's why!
In this video analysis update on my position in NASDAQ:VKTX , we will discuss why I didn't sell after the 14% pullback and why it's important not to sell based on price movement! Enjoy.
Have you ever sold a stock and right after it flew to the upside?
SILVER Is Going Up! Long!
Here is our detailed technical review for SILVER.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 30.422.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 31.289 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURUSD Will Grow! Buy!
Take a look at our analysis for EURUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.061.
The above observations make me that the market will inevitably achieve 1.068 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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SILVER BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
SILVER downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 32.262 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the SILVER pair.
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XRP Hits Resistance Level: Will It Break Through?Based on the XRP/USDT chart, it appears that XRP is trading within a clear rectangular range, with resistance around the $0.64 level and support near $0.53. Recently, XRP attempted to break above this range but has returned within the channel after facing resistance.
Looking forward, if XRP successfully rebounds from the $0.55-$0.53 support zone, there is a potential for it to challenge the upper resistance level once again. Traders should watch for confirmations around these key support and resistance levels, as a breakout above or below could signal a new trend direction.
EUR/USD Under Pressure Amid USD Strength and Eurozone ConcernsToday, the EUR/USD currency pair is under downward pressure due to a strengthening U.S. dollar.
This decline follows recent market uncertainty, particularly as the U.S. political landscape has experienced volatility, and strong U.S. economic data has fueled demand for the dollar.
The euro has also been weakened by economic concerns in Europe, including ongoing challenges in Germany, which have reduced investor confidence in the eurozone's stability.
Looking forward, the EUR/USD pair may face further downward movement if the U.S. economy continues to strengthen, driving expectations of higher interest rates.
If the pair breaks below the 1.0650 support level, it could move towards lower levels in the short term. However, political events and economic data will remain key factors influencing the pair's direction.