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Descending Channel

Ethereum - Big overview of the bear market. The bears are in full control because ETH is below the two major trendlines and also below the 200-day moving average. We have a FTX GAP between 1545 and 1352. This gap was caused by a huge panic sell-off of traders due to the collapse of the FTX exchange and by CZ Binance, who tweeted that he was not going to buy FTX as he wanted. This gap can be filled, but of course it doesn't have to. Also, there is a 0.618 FIB at 1415 + the top of the yellow trendline + the 200-day moving average, which is another strong resistance. The bulls need a lot of strength to break this zone, and even if they are able to do it, there is another white trendline, which is the top of the parallel channel at around 1800. It's hard to say if the bulls will be motivated enough to break it. I don't want to be bullish about this strong resistance, but we can definitely touch it, no problem. At this moment, my trades are only short-term swing and intraday trades, so I am not thinking about buying any coins for the long term. I still think the bear market will continue in 2023 because other coins look extremely bearish, including Bitcoin. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. As you can see on the chart, the price is moving in two parallel descending channels. The top trendline of the first white parallel channel has only two touches, so the third touch should be rejected strongly. This is a bearish Elliott Wave count, and we are currently at the 3rd wave of the 5th wave. I suggest continuing lower to complete this impulse wave. I would love to buy ETH for around 250 - 300. I believe it is possible to get there, based on other assets such as stocks. TSLA, META, NTFLX, etc. are experiencing the biggest crash in history. And ETH is also, basically, in the IT sector. If ETH drops below the key resistance of 1073, I expect a huge flash crash to the bottom of the descending channel. Overall, I am bearish, and we may definitely see some relief rally. But don't get rekt by the main resistance I mentioned earlier. Look at my idea about SOLANA (exponencial growth) in the related section down below. Thank you, and for more ideas, hit "Like" and "Follow"!
by UnknownUnicorn2537518
59
Solana - Buy here for a 452% PROFIT! (Best level) You are wondering why SOL is falling drastically and maybe where the best level to buy is. In this analysis, I will show you! Technically, this coin is very weak. The downtrend is steep and very impulsive, no doubt about it. But it is also a great opportunity for buyers to speculate on the midterm long position. But first of all, we need to find the best level for it. Fibonacci is a very powerful tool, and we can use the confluence of the FIB retracement and FIB extension to look for a level where there is likely to be a trend reversal point. We need to take a FIB retracement (LOG FIB) from the previous huge uptrend from 2020–2021. We can see that 0.618 FIB is at 8.52 USDT. 0.618 FIB is, of course, the strongest FIB level. Also, we need to take a FIB extension from wave 3 => 4 to predict a fifth wave. There is a pretty good chance that the trend reversal point can occur at the 1:1 FIB extension, which is around 8.74 USDT. Because we have a very strong fibonacci support between 8.52 and 8.74 USDT, we can place a buy order here and wait for the price to reach this level! Sounds pretty easy, doesn't it? I think we should see a lot of buyers here, and we can expect a major rally with a potential profit of 452%! If you bought SOL at a higher price and you want to get out, then it's good news for you! I don't have any SOL at this moment, so I am waiting for the price to come to me! The price is moving in the descending parallel channel, and this is also a great opportunity to buy SOL at the bottom of the channel, so we have another confluence to buy SOL! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. I hope you guys will take this trade! Take care. For more ideas, hit "Like" and "Follow", right now!
Long
by UnknownUnicorn2537518
81
USDJPY SELL!USDJPY is showing a strong bearish sentiment on the weekly and daily charts , heading towards the next support zone of 126.137. On further inspection is a downward parallel channel on the 4 hour chart . Price recently reached the diagonal pivot line of the parallel channel and got pushed down . Recently, price retested that pivot line and is now ready to continue the downward move ! For now , my Target will be the lower limit of the downward channel i.e. 127.8 !
Short
by UnknownUnicorn44957284
1
Bitcoin: Bullish divergence on weekly rsiBitcoin has made a bullish divergence on the weekly rsi, meaning the price went lower while the rsi is making a higher high. Not only do we see a bullish divergence, the divergence is happening in a falling channel. The only thing missing is a third confirmation of this bullish divergence. That confirmation can happen in 2 ways: 1: making a lower low on the price, while making an higher high on the rsi 2: makinga a double bottom on the price, while making an higher high on the rsi
COINBASE:BTCUSDEducation
by FetchTeam
Binance 80% CRASH! Black swan crypto event. Fundamentals first. Binance Exchange is losing customers; that is a fact that everyone knows. The huge scandal occurred just before Christmas, but it looks like people have already forgotten what happened. What is causing Binance Exchange to lose customers? First of all, Binance Exchange itself is banning users all around the world for no reason. My friend got banned before Christmas, 1 day after he opened a short position on BNBUSDTPERP futures. I received a lot of messages from people all around the world saying they received an email with a permanent account suspension. Half of them could withdraw their funds; the other half could not. So if you received this email and you don't know why, Binance Exchange can ban you without any reason, just if they want to. There is a conspiracy theory (not verified) that Binance cannot have a monopoly on crypto; bigger players refuse to accept this fact, so they need to reduce it by force. I think Binance is a great exchange, the most liquid exchange. But these are facts that everyone can verify. BNB coin is currently worth 245 USDT. In my opinion, the price is very expensive at this moment, due to recent scandals and lost customers. 50 - 100 USDT is a fair price to me; I am not willing to pay more for the coin. If something is too big, it will destroy itself, so there needs to be competition. Monopoly is not a good thing. I want to give you some tips: do not short BNB directly on the Binance exchange if you don't want to get permanently banned like my friend. The best option is to store your cryptocurrency in a hardware wallet such as Trezor. And use only a portion of your funds on exchanges to trade spot or futures. Leverage is good because you don't need all your funds and will transfer the risk to the exchange. Together with "stop limit" orders, you can trade very effectively even with a small amount of your funds on exchanges. Binance CEO Changpeng Zhao (CZ) said on Twitter that "for most people, for 99% of people today, asking them to hold crypto on their own, they will end up losing it." In other words, if you hold crypto on your own, you will lose your funds, so you should hold all your funds on exchanges. I was shocked when I saw this. He made this statement during the massive bank run on his exchange, giving the impression to others that he was threatening people and convincing them that their funds are safe only in his exchange. ----------------------------------------------------------- Now let's take a look at the technical analysis, which is the main reason why I am bearish on BNB. Both the technical and fundamental analyses are bearish. The uptrend from June 13, 2022, to November 7, 2022, is clearly weak. It's an ABC corrective pattern, which is usually followed by a massive crash.  80% crash to 48 USDT is, in my opinion, very possible. Everything is going down, including META stocks, TSLA, etc. So if you believe in the future of Binance, 48 USDT is your desired price. You have no idea how much BNB people accumulated in previous years or how many leveraged long positions on futures are open. The market usually wants liquidity. The price has been moving in the descending parallel channel, and we can retest the channel from the downside. As per my Elliott Wave analysis, the whole structure looks very weak. The first impulse wave appears to be an ending diagonal wedge. The bulls are not interested in this coin. 48 USDT is a very strong support because it marks the beginning of the massive gap from 2021 as well as the breakout level of the previous structure from 2020. I am very bearish on the crypto space, not just the BNB coin, as you may have seen from my previous posts. Binance is the most liquid exchange and CZ Binance did a great job bulding it. Thank you, and happy New Year!
Short
by UnknownUnicorn2537518
98
XRP - Whales will start buying XRP here. But first a 55% DROP! This head and shoulders pattern on the weekly chart is almost ready for a breakdown, so this is your last chance to sell XRP and save your money! On the other side, it's a great opportunity to short XRP on the futures market, as I already did at the top of the right shoulder (see my previous idea)! But be careful; XRP is the beast, and I know XRP very well, more than most other people. Overlaps between waves are common, and movements can be difficult at times, but they are doable. If you ask me when moon for XRP? I can tell you that after we hit 0,1 - 0,09 USDT, the whales will start buying massively. The whales are going to send XRP to the moon! And I am telling you it will be massive; you don't want to miss it, so hit the LIKE if you think I am right. But let's be realistic; this is the biggest bear market in history, and it's better to buy XRP at a cheaper price. XRP is stuck in this parallel channel on the weekly chart, and the bears are in full control. There are no signs of a trend reversal at all. No buying alerts from whales As per my Elliott Wave analysis, this downtrend is so incomplete. We are in the middle of the bearish trend that started on April 13, 2021. But we are basically finishing the downtrend that started in 2018. It can take another 1-2 years for XRP to bottom out. XRP is ranked 6 on CoinGecko, which is pretty impressive. Transactions on XRP are extremely fast and extremely cheap, so it's a pleasure to use it for payments. But it's not a digital gold nor a store of value and will never be, this can only be Bitcoin. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
71
Bitcoin - Secret pattern no one is talking about! Bitcoin is bearish on higher timeframes, but on the 4-hour chart, BTC could reach 17,300–17,550 in the near term! There is a massive opportunity to short Bitcoin at the top of two parallel channels or at the 0.618 - 0.5 FIB! We can go straight down to 10k after we reach this important level. From the Elliott Wave perspective, it makes sense to complete the C wave to the upside. There are many shorts that must be eliminated before bitcoin experiences a historic crash! The previous uptrend from November 21 to December 14 was nice, but unfortunately, there are a lot of signs of weakness in this particular move. Example: There is an overlap between wave W and wave X. It looks like a WXYXZ triple-three (ZigZag) corrective structure. The subwaves look like zigzags, not impulses. That's why I am being a little bit pessimistic about this previous uptrend. I post trade setups privately. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. 15487 is the next major support, and I believe the market wants liquidity below this level. All stop losses should be hit first, and then I expect a bullish pullback. I will inform you in my next analysis, so make sure you follow me! It's better for Bitcoin to crash to 10k immediately, so we can eventually start a new bull market sooner rather than later. Probably the last thing you want is for Bitcoin to slowly rise to 21k–30k and then dump to 10k. Check out my related idea about "Bitcoin - Merry Christmas!" in the related section down below; you don't want to miss it. I think we will see more major players capitulate, so stay safe! There is an opportunity to wipe out big players out of the game now or never. Thank you.
by UnknownUnicorn2537518
67
SPX500 - Bearish bounce inside descending wedge, more downside?SPX500, not a ton of volume, but has clearly made a higher low and bounced off the top of this long term trend line. Looking for a new low somewhere around end of January then decision time from there. Of course any of this cold be invalidated with a massive move either direction. I would be careful listening to the news, as they seem to only be able to come up with reasons that something happened after the fact. Charts tell the true story.
OANDA:SPX500USDShort
by mfrancisdli
2
EURUSD BEARISH BOUNCEEURUSD Pair had eventful several months, first was the stable growth of the US Dollar then the interest rates did the trick to place it back on track, we can observe a very narrow decline since the beginning of November. We all know that when there are rapid price changes there is always correction coming. 1.0800 looks like a reasonable resistance to test around the end of the fiscal year. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Short
by legacyFXofficial
1
TSLA: Incredibly BEARISH! Next KEY POINTS! [UPDATED]• After scoring another target on TSLA, it dropped below our support at $166, giving continuation of this restless bear trend (the link to my previous post is below this analysis, as usual); • Now, TSLA is around the $155, which is a possible support level, as it was a previous resistance on Oct 2020, as seen in the weekly chart below: • As seen in the weekly chart above, the dotted line at $155 is a support area, but there’s another one: The purple trend line; • TSLA is inside a huge Descending Channel since Nov 2021, and it is trading around its bottom line; • Therefore, this is a dual support area made of this dotted line + purple line; • Any bullish reaction in this area could indicate that TSLA would bounce again, maybe to the 21 ema in the weekly chart, or even to the upper purple trend line, retesting the ceiling of this channel again. However, there’s not a single bullish reaction on TSLA right now; • What if it loses this dual support area? Then the $126 is the next support level on TSLA; • The situation is critical on TSLA, and regardless of what happens, we will see interesting movements in the next few weeks. I’ll keep you posted on this. Remember to follow me to keep in touch with my daily analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
4