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BTC Technical analysisIt looks like Bitcoin has formed a rising wedge pattern on the 2-hour chart, which typically indicates a potential bearish reversal. The pattern has already reached its second top, and the price seems to be breaking down from the wedge. The target for this breakdown could be around $56,000, which aligns with the support zone from earlier price action. The RSI is near overbought territory, suggesting that the momentum might be fading, and the MACD is showing early signs of a bearish crossover. Keep an eye on the volume to confirm this breakdown; if it picks up, we might see a sharper decline.
Short
by Crypto_CAT1
1
Fantom: Come Back!We primarily expect a return into our orange Target Zone (between $0.3220 and $0.1866) before the orange wave v and thus the green wave comes to an end. After that, a sustained rise above the resistance at $0.54 should occur. However, as the price had already approached the range, the technical minimum requirement for the correction low has already have been met. Should we now see a rise above the resistance at $0.54 (33% likely), we will thus have to see the price in the orange-colored wave alt.i.
BINANCE:FTMUSD
by MarketIntel
Ace Trading Academy - AUD/USD Pre-week Analysis Full BreakdownIn this video, we thoroughly review how last week ended and how the upcoming week will potentially set up in AUD/USD based on previous price movement. We plan to see an initial retest at the beginning of the week and a continuation of the current 2-week uptrend after the retest. We labeled trading zones, Support/Resistance points, and trend set-ups. Take a listen, like and follow if you take value from this video. More value will be coming soon!!
by AceTradingAcademy
US30 SingalUS30 Analysis - Daily In this analysis, we are anticipating the formation of a Head and Shoulders pattern. Based on this pattern: Sell Entry Point: A sell signal has been triggered near the neckline and resistance area. If the neckline breaks downward, a significant bearish move is expected. Buy Entry Point: If the price bounces off the identified support area below and fails to break down, a buy signal will be activated. In this scenario, the market could move towards higher targets. Overall, we expect a continuation of the bearish move if the neckline is broken, but if not, a potential reversal to the upside is likely.
FX:US30Short
by aminsmithfx
2
Oil slips again and Geopolitical tensions rise In my last post about Oil, I said that "Oil has a good possibility to get back to the range of 83.50 and 84.50", but also "Oil had broken 3 LH's that were created between July 22nd, 2024 and August 1st, 2024". I also mentioned that "we can see a pullback in the ranges of 78.84 and 77.12". In my outlook at the top of the week, I said that I was on the buyer's side until price showed otherwise. Now, price is showing signs of not continuing buys but settling into seller's territory. In this latest out look, I'm going to give you my insight on where the market can possibly go going into next week. Around early 6AM, price broke the HL from last Friday that shot Oil up all the way to the 77.89 area on this past Monday. On Tuesday, price created the "M" formation signaling that sellers were now starting to step in that sent the market selling for the rest of the week. On today Friday, August 16th, Price hit a demand area that sent price shooting past the HL that i stated early in my typing. This could potentially mean that we are now in seller's territory for a minute depending on how the markets may move going into next week. We did leave a gap above after yesterday's sell movement that can send price back that way from Monday going into Tuesday depending on market conditions. I believe if price goes back that way it can be just to create a LH, IF price doesn't make buying structure. Right now my current outlook is bias until the market finds its footing from Monday-Tuesday. Amid Oil selling from the technical side, Oil is facing rocky streets from fear of the United States economy as investors are getting ready to brace for interest rate cuts and other things going on in different countries. From Fed Powell, to Iran retaliation, and to China's weak economy, Oil is in some unpredictable territory especially with a lot of geopolitical tensions rising. Next week news combined with technicals will give a greater outlook on Oil.
NYMEX:MCL1!
by eightyfourtrades
Solana: Reconsideration?According to our primary expectation, Solana should now sell off even more strongly and head for our blue Target Zone ($109 – $51.20), where we expect the low of the same-colored wave (ii). Traders could open long positions within this range, placing stops about 1% below the lower edge. With the low in place, a move back above the resistance at $210.03 is on the cards. However, with the price narrowly missing the Zone in the past, we must also consider the option that the low has already been established. This scenario (37% likely) will come into play on a break of resistance at $210.03.
BINANCE:SOLUSD
by MarketIntel