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MARKET ANALYSIS

BTCUSD – approaching a support line that has been previously tested at least twice in the past

BTCUSD is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 106060.2568 is expected in the short term.

A Channel Up has formed, and NAS100 is approaching resistance. Should we expect a breakout and the start of a new trend, or a reversal?

An emerging Channel Up pattern in its final wave has been identified on the NAS100 30 Minutes chart. After a strong bearish run, NAS100 is heading toward the upper triangle trendline, with possible resistance at 25882.5954. If the support holds, the Channel Up pattern suggests a rebound toward current levels.

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It’s time to decide about ETHUSD—its recent breach of 2948.7900 could signal a new trend.

The breakout of ETHUSD through the 2948.7900 price line is a breach of an important psychological price level that it has tested numerous times in the past. If this breakout persists, ETHUSD could test 3053.5471 within the next 19 hours. One should always be cautious before placing a trade and wait for confirmation of the […]

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An important support line is being approached by USDJPY. This price has been tested numerous times in the last 7 days

An emerging Falling Wedge pattern has been detected for USDJPY on the 1 hour chart. There may be a move toward 150.7935 in the next few candles. Once it reaches the support, it may continue its bearish run or revert to current price levels.

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S&P500: breach of a resistance trendline that has been tested at least twice.

S&P500 has broken through the resistance line of a Triangle technical chart pattern. Because it has retraced from this line in the past, you should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 13 days, suggesting a possible target level around 7027.2055 within the […]

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An important resistance line is being approached by XAUUSD. This price has been tested numerous times in the last 11 days

XAUUSD is heading toward the resistance line of a Channel Up pattern and could reach it within the next 2 days. It has tested this line numerous times before, and this time may be no different, ending in a rebound instead of a breakout. If a breakout doesn’t occur, we could see a retracement back […]

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LTCUSD is approaching a resistance line that has been tested at least twice before

A Pennant pattern was identified for LTCUSD at 69.66, suggesting it may move toward the resistance line at 70.1868. It may break through that line and continue the bullish trend, or reverse from it.

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BRN/USD is quickly approaching an important level it has tested many times before.

BRN/USD is moving toward a support line. Because it has retraced from this level in the past, we may see either a breakout through this line or a rebound to current levels. It has touched this line multiple times over the last 16 days and may test it again within the next 3 days.

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