NWCUSDT Excellent buy opportunity for quick +25% profit!!
The NewsCrypto coin (NWCUSDT) is having a strong day so far making an attempt at the 1D MA50 (blue trend-line). The project has overall huge upside potential and our thesis is that it's a long-term investment. Regardless of the long-term, the solid latest fundamentals, call for an immediate buy, and potentially a +25% rise from the current levels. Let's have a look at both the technical and fundamental aspects of NWC.
** Technical Analysis **
As mentioned the price is making a run on the 1D MA50 today, a trend-line that has been intact since June 23, which is at the top of the mid-April Channel Down. As you can see, there is a high degree of symmetry between the current Channel Down and the one from August 24 - December 29 2022. Both had a 1D MA50/100 Bearish Cross and both fit inside a giant Rectangle pattern and with the help of the Fibonacci retracement lines, we can identify which level of symmetry we are at.
At the moment the price has hit the final Symmetrical Support Zone (green) before the bottom of the Rectangle (Support 1) and technically we should see a short-term (at least) rebound towards the 1D MA100 (green trend-line). That is an important Resistance, which on the previous Channel Down had three clear rejections. It appears that only a 1D candle close above the 0.382 Fibonacci level, accumulates high probabilities of delivering the next big rally near $0.20.
** Fundamental Analysis **
NWC isn't new to the crypto world. As mentioned its future is bright but so is its history, which since 2019 has offered amazing partnerships (Kucoin, Polygon, Travala, Gate, MultiversX, Chainlink to name a few), burned millions of NWC, made great developments on its app, entered the AI sector and eventually ...
See the rest of the analysis on our TradingView channel: https://www.tradingview.com/chart/NWCUSDT/Bn6UQk7O-NWCUSDT-Excellent-buy-opportunity-for-quick-25-profit/
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The NewsCrypto coin (NWCUSDT) is having a strong day so far making an attempt at the 1D MA50 (blue trend-line). The project has overall huge upside potential and our thesis is that it's a long-term investment. Regardless of the long-term, the solid latest fundamentals, call for an immediate buy, and potentially a +25% rise from the current levels. Let's have a look at both the technical and fundamental aspects of NWC.
** Technical Analysis **
As mentioned the price is making a run on the 1D MA50 today, a trend-line that has been intact since June 23, which is at the top of the mid-April Channel Down. As you can see, there is a high degree of symmetry between the current Channel Down and the one from August 24 - December 29 2022. Both had a 1D MA50/100 Bearish Cross and both fit inside a giant Rectangle pattern and with the help of the Fibonacci retracement lines, we can identify which level of symmetry we are at.
At the moment the price has hit the final Symmetrical Support Zone (green) before the bottom of the Rectangle (Support 1) and technically we should see a short-term (at least) rebound towards the 1D MA100 (green trend-line). That is an important Resistance, which on the previous Channel Down had three clear rejections. It appears that only a 1D candle close above the 0.382 Fibonacci level, accumulates high probabilities of delivering the next big rally near $0.20.
** Fundamental Analysis **
NWC isn't new to the crypto world. As mentioned its future is bright but so is its history, which since 2019 has offered amazing partnerships (Kucoin, Polygon, Travala, Gate, MultiversX, Chainlink to name a few), burned millions of NWC, made great developments on its app, entered the AI sector and eventually ...
See the rest of the analysis on our TradingView channel: https://www.tradingview.com/chart/NWCUSDT/Bn6UQk7O-NWCUSDT-Excellent-buy-opportunity-for-quick-25-profit/
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EURGBP Wait for a higher sell entry.
The EURGBP pair is trading within a Channel Down pattern since the February 03 High and right now is attempting to make a rebound on the 1D MA50 (blue trend-line). The Resistance from the recent High is at 0.87025 (Resistance 1) and is near the spot we expect the next rejection to take place as it is also where the 1D MA200 (orange trend-line) is. We will use that opportunity to sell and target initially Support 1 (0.85050) and then Support 2 (0.84100) in extension.
A good sell confirmation signal can be when the 1D RSI breaks below its Higher Lows trend-line, followed by a rejection on the 1D MA50 as a Resistance.
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The EURGBP pair is trading within a Channel Down pattern since the February 03 High and right now is attempting to make a rebound on the 1D MA50 (blue trend-line). The Resistance from the recent High is at 0.87025 (Resistance 1) and is near the spot we expect the next rejection to take place as it is also where the 1D MA200 (orange trend-line) is. We will use that opportunity to sell and target initially Support 1 (0.85050) and then Support 2 (0.84100) in extension.
A good sell confirmation signal can be when the 1D RSI breaks below its Higher Lows trend-line, followed by a rejection on the 1D MA50 as a Resistance.
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PLSUSDT Huge Inverse Head and Shoulders formed!
PulseChain (PLSUSDT) has formed a huge Inverse Head and Shoulders pattern (IH&S) from a very deep level, and sits on a vastly oversold 4H LMACD Bullish Cross formation! This is technically a very strong bullish reversal pattern that is aiming initially at the 0.0001050 Resistance, however we will first pursue a 1D MA100 (green trend-line) contact at 0.0000900 and extend to the Resistance only after a candle close above it. The reason is that the 1D MA100 has been the natural Resistance since July 21.
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PulseChain (PLSUSDT) has formed a huge Inverse Head and Shoulders pattern (IH&S) from a very deep level, and sits on a vastly oversold 4H LMACD Bullish Cross formation! This is technically a very strong bullish reversal pattern that is aiming initially at the 0.0001050 Resistance, however we will first pursue a 1D MA100 (green trend-line) contact at 0.0000900 and extend to the Resistance only after a candle close above it. The reason is that the 1D MA100 has been the natural Resistance since July 21.
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BITCOIN 3D Golden Cross just formed! Road to ATH begins!
Bitcoin (BTCUSD) just completed a new Golden Cross pattern, this time on the 3D chart. Naturally the price is trading above both the 3D MA50 (blue trend-line) and 3D MA200 (orange trend-line).
In the previous 2 Cycles, once the Cross took place, the 3D MA200 turned into a Support (technical exception of course is March 2020 and the COVID crash, which is though a Black Swan event, the price would have continued upwards if it wasn't for that). With the 3D MA50 guiding the price, the next stop for the uptrend that started was the All Time High (ATH).
Due to the Libra euphoria and other positive fundamentals regarding adoption that delivered the 2019 3D Golden Cross faster, it took BTC around 100 days more to reach the ATH in 2020. It could be a fair estimate that Bitcoin would have reached the current ATH ($69000) by around this time next year.
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Bitcoin (BTCUSD) just completed a new Golden Cross pattern, this time on the 3D chart. Naturally the price is trading above both the 3D MA50 (blue trend-line) and 3D MA200 (orange trend-line).
In the previous 2 Cycles, once the Cross took place, the 3D MA200 turned into a Support (technical exception of course is March 2020 and the COVID crash, which is though a Black Swan event, the price would have continued upwards if it wasn't for that). With the 3D MA50 guiding the price, the next stop for the uptrend that started was the All Time High (ATH).
Due to the Libra euphoria and other positive fundamentals regarding adoption that delivered the 2019 3D Golden Cross faster, it took BTC around 100 days more to reach the ATH in 2020. It could be a fair estimate that Bitcoin would have reached the current ATH ($69000) by around this time next year.
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MPCUSDT Is Partisia Blockchain token the next security crypto gem?
Patrisia Blockchain's (a Web3 public blockchain built for trust, transparency, privacy and sub-second finalization time) listed its MPCUSDT token on multiple exchanges since yesterday. The buzz around it is strong so we took a look at its price action and discovered a potential crypto gem behind it.
Technical Analysis
The best time to buy such a token is at the very beginning. And what better pattern to utilize than an Inverse Head and Shoulders (IH&S) right from the very start.
As you can see, the price just broke above the initial Lower Highs trend-line, which is about to test it as Support, and we can see a Channel Up already emerging (dotted lines). What better formation to accompany that, than a Bullish Cross between the MA50 (blue trend-line) and MA100 (green trend-line).
As long as the RSI holds its Higher Lows trend-line), this is a buy opportunity. In standard technical IH&S fashion, the pattern targets the 2.0 Fibonacci extension from the Head, which is exactly at 0.7500. That would be +80% from the bottom and +40% from the current level, indeed excellent for short-term profit.
Read the rest of the article in the following link: https://www.tradingview.com/chart/MPCUSDT/0h4KbtRJ-MPCUSDT-Is-Partisia-Blockchain-the-next-security-crypto-gem/
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Patrisia Blockchain's (a Web3 public blockchain built for trust, transparency, privacy and sub-second finalization time) listed its MPCUSDT token on multiple exchanges since yesterday. The buzz around it is strong so we took a look at its price action and discovered a potential crypto gem behind it.
Technical Analysis
The best time to buy such a token is at the very beginning. And what better pattern to utilize than an Inverse Head and Shoulders (IH&S) right from the very start.
As you can see, the price just broke above the initial Lower Highs trend-line, which is about to test it as Support, and we can see a Channel Up already emerging (dotted lines). What better formation to accompany that, than a Bullish Cross between the MA50 (blue trend-line) and MA100 (green trend-line).
As long as the RSI holds its Higher Lows trend-line), this is a buy opportunity. In standard technical IH&S fashion, the pattern targets the 2.0 Fibonacci extension from the Head, which is exactly at 0.7500. That would be +80% from the bottom and +40% from the current level, indeed excellent for short-term profit.
Read the rest of the article in the following link: https://www.tradingview.com/chart/MPCUSDT/0h4KbtRJ-MPCUSDT-Is-Partisia-Blockchain-the-next-security-crypto-gem/
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NASDAQ's Key Support level being held on this Inverse H&S pattern.
Nasdaq is holding not just its 1D MA50 (blue trend-line), which is the most important Support trend-line during uptrends, but also the 0.618 Fibonacci, which is a symmetrical Support that held on July 19.
Basically the price is ranged within the 0.786 - 0.618 Fib Zone and if broken, the All Time High (ATH) should be tested. This looks more and more like an Inverse Head & Shoulders (IH&S) pattern materializing.
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Nasdaq is holding not just its 1D MA50 (blue trend-line), which is the most important Support trend-line during uptrends, but also the 0.618 Fibonacci, which is a symmetrical Support that held on July 19.
Basically the price is ranged within the 0.786 - 0.618 Fib Zone and if broken, the All Time High (ATH) should be tested. This looks more and more like an Inverse Head & Shoulders (IH&S) pattern materializing.
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BITCOIN W-shaped recovery taking place on full development.
Bitcoin broke emphatically and closed above the 1D MA50 (blue trend-line) yesterday, almost recovering all of August's -25% losses. Such a strong and quick reversal is owed to the distinct pattern of 'W-shaped Recovery' which we are seeing in full development right now.
The price reached the 0.618 Fibonacci retracement level and if broken, we can expect a full price recovery by the first week of September at 71900.
Do you think the pattern will be completed?
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Bitcoin broke emphatically and closed above the 1D MA50 (blue trend-line) yesterday, almost recovering all of August's -25% losses. Such a strong and quick reversal is owed to the distinct pattern of 'W-shaped Recovery' which we are seeing in full development right now.
The price reached the 0.618 Fibonacci retracement level and if broken, we can expect a full price recovery by the first week of September at 71900.
Do you think the pattern will be completed?
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AMAZON Only a break above the 1D MA50 remains. $240 on sight.
Amazon Inc. (AMZN) spent the previous 2 weeks on a very strong recovery of the losses sustained in July - August, in fact those have been the strongest 2-week candles since October 23 - 30 2023.
That was the previous bottom of the 2.5 year Channel Up on its Higher Lows trend-line. Even though the stock broke below the 1W MA50 (blue trend-line) for the first time in more than 1 year (May 2023), it managed to hold the long term Support of the 1W MA200 (orange trend-line).
As this 1W chart shows, the Higher Lows of this pattern are periodic and cyclical and you can see that clearly with the use of the Sine Waves (also evident on the 1W RSI, the green circle bottoms below its MA). Every time the price broke above the 1D MA50 (red trend-line) following such a Low (3 times) it approached the top of the Channel Up.
The first Bullish Leg peaked at +79%, the second at +69%. If this is a progressive sequence, then the third (current) Bullish Leg could be -10% less than the last, i.e. +59%. As a result, the 1D MA50 (which applied high selling pressure this week), is the final Resistance and bullish break-out confirmation the price technically needs before it targets $240.00 (+59% rise).
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Amazon Inc. (AMZN) spent the previous 2 weeks on a very strong recovery of the losses sustained in July - August, in fact those have been the strongest 2-week candles since October 23 - 30 2023.
That was the previous bottom of the 2.5 year Channel Up on its Higher Lows trend-line. Even though the stock broke below the 1W MA50 (blue trend-line) for the first time in more than 1 year (May 2023), it managed to hold the long term Support of the 1W MA200 (orange trend-line).
As this 1W chart shows, the Higher Lows of this pattern are periodic and cyclical and you can see that clearly with the use of the Sine Waves (also evident on the 1W RSI, the green circle bottoms below its MA). Every time the price broke above the 1D MA50 (red trend-line) following such a Low (3 times) it approached the top of the Channel Up.
The first Bullish Leg peaked at +79%, the second at +69%. If this is a progressive sequence, then the third (current) Bullish Leg could be -10% less than the last, i.e. +59%. As a result, the 1D MA50 (which applied high selling pressure this week), is the final Resistance and bullish break-out confirmation the price technically needs before it targets $240.00 (+59% rise).
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BROADCOM The next expansion wave to $285 has begun.
Broadcom Inc. (AVGO) has already completed 2 weeks of gains that essentially recovered the majority of the July-led correction. This rebounded not only largely maintained the long-term Channel Up pattern that started on the October 2022 market bottom but also managed to keep the 1W MA50 (blue trend-line) intact.
This is an extremely bullish long-term combination as it should technically start the stocks 3rd long-term expansion wave as illustrated on today's 1W chart. As you can see the previous two peaked at +121% and +133% respectively. As a result our new long-term Target as of now is $285.00 (+121% from the recent bottom).
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Broadcom Inc. (AVGO) has already completed 2 weeks of gains that essentially recovered the majority of the July-led correction. This rebounded not only largely maintained the long-term Channel Up pattern that started on the October 2022 market bottom but also managed to keep the 1W MA50 (blue trend-line) intact.
This is an extremely bullish long-term combination as it should technically start the stocks 3rd long-term expansion wave as illustrated on today's 1W chart. As you can see the previous two peaked at +121% and +133% respectively. As a result our new long-term Target as of now is $285.00 (+121% from the recent bottom).
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USDJPY Strong buy opportunity long-term.
The USDJPY pair has been trading within a long-term Channel Up since the October 17 2022 High. The recent 6-week correction below the 1W MA50 (blue trend-line) is its technical Bearish Leg in order to price new Higher Low.
The pull-back even broke below the 1W MA100 (green trend-line) but recovered as it didn't close a 1W candle below it and now the price action has settled within the 1W MA50 and MA100.
If we do get a 1W candle closing below the MA100, wait for a buy near the bottom of the Channel Up, with the least risky buy being after the 1W MACD makes a Bullish Cross (has confirmed the last 2 major long-term rallies).
If it breaks above the 1W MA50 first though, the 1W MACD will most likely also complete its Bullish Cross earlier, so we will buy nonetheless, even though the reward potential will be less. In either case, our Target is Resistance 1 (as it was on the rally that peaked on the week of November 13 2023) at 161.800.
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The USDJPY pair has been trading within a long-term Channel Up since the October 17 2022 High. The recent 6-week correction below the 1W MA50 (blue trend-line) is its technical Bearish Leg in order to price new Higher Low.
The pull-back even broke below the 1W MA100 (green trend-line) but recovered as it didn't close a 1W candle below it and now the price action has settled within the 1W MA50 and MA100.
If we do get a 1W candle closing below the MA100, wait for a buy near the bottom of the Channel Up, with the least risky buy being after the 1W MACD makes a Bullish Cross (has confirmed the last 2 major long-term rallies).
If it breaks above the 1W MA50 first though, the 1W MACD will most likely also complete its Bullish Cross earlier, so we will buy nonetheless, even though the reward potential will be less. In either case, our Target is Resistance 1 (as it was on the rally that peaked on the week of November 13 2023) at 161.800.
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BITCOIN needs to close above the 1D MA50 TODAY! Alert!
Bitcoin (BTCUSD) has been on a strong 2-day pull-back and reached today the 1D MA50 (blue trend-line) as a Support for the first time since last Friday's bullish break-out.
So far the 1D MA50 was tested as a Support on a pull-back during every Bullish Leg following a bullish break-out, during the past 5 months.
As you can see on this chart in fact, the 1D MA50 was tested and held (closed the daily candle above it) successfully on May 16 and July 18. It then moved on to test the Lower Highs trend-line of the March 14 High.
If successful again, we expect 68500 on the short-term.
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Bitcoin (BTCUSD) has been on a strong 2-day pull-back and reached today the 1D MA50 (blue trend-line) as a Support for the first time since last Friday's bullish break-out.
So far the 1D MA50 was tested as a Support on a pull-back during every Bullish Leg following a bullish break-out, during the past 5 months.
As you can see on this chart in fact, the 1D MA50 was tested and held (closed the daily candle above it) successfully on May 16 and July 18. It then moved on to test the Lower Highs trend-line of the March 14 High.
If successful again, we expect 68500 on the short-term.
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S&P500 The Bull Cycle is still far from over!
Six months ago while the market was undecided about whether or not the S&P500 (SPX) rally would continue, we presented a very useful multi-year chart on the 1M time-frame (February 27, see chart below), where we called for an extension of the uptrend, claiming confidently that the 'Bull Cycle is far from over':
https://s3.tradingview.com/f/fhCy7dEv_mid.png
As you can see those who bought without fear have enjoyed so far more than +15% gains. What's even more impressive is the massive bullish reversal of the August candle, that managed to close the month in green, despite the early aggressive sell-off.
This is a strong sign that the rally is far from over, but it's not the only one. The key here, and constitutes our main modification relative to the chart 6 months ago, is that the most accurate sell signal on a cyclical basis has been historically given after the 1M RSI breaks above the 70.00 overbought barrier and posts Lower Highs.
This signal has had 100% accuracy in the past 10 years, effectively projecting the 2015, 2018 and 2022 corrections. The 1M RSI also has a Channel Down Resistance to consider but the Lower Highs signal should be top priority for investors to start selling.
As a result, we expect the index to surpass the 6000 mark and even approach 6500, before we consider a cyclical selling sequence again.
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Six months ago while the market was undecided about whether or not the S&P500 (SPX) rally would continue, we presented a very useful multi-year chart on the 1M time-frame (February 27, see chart below), where we called for an extension of the uptrend, claiming confidently that the 'Bull Cycle is far from over':
https://s3.tradingview.com/f/fhCy7dEv_mid.png
As you can see those who bought without fear have enjoyed so far more than +15% gains. What's even more impressive is the massive bullish reversal of the August candle, that managed to close the month in green, despite the early aggressive sell-off.
This is a strong sign that the rally is far from over, but it's not the only one. The key here, and constitutes our main modification relative to the chart 6 months ago, is that the most accurate sell signal on a cyclical basis has been historically given after the 1M RSI breaks above the 70.00 overbought barrier and posts Lower Highs.
This signal has had 100% accuracy in the past 10 years, effectively projecting the 2015, 2018 and 2022 corrections. The 1M RSI also has a Channel Down Resistance to consider but the Lower Highs signal should be top priority for investors to start selling.
As a result, we expect the index to surpass the 6000 mark and even approach 6500, before we consider a cyclical selling sequence again.
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BITCOIN Heavily supported by the 1WMA50. Rally can start anytime
Bitcoin (BTCUSD) has been following very closely the structural patterns of past Cycles and one analysis we did on the similarity sequences with cyclical fractals has been the following (September 19 2023):
https://s3.tradingview.com/p/pWpc8HqK_mid.png
As you can see, BTC followed the exact path we plotted and did what was expected by breaking above the 1W MA100 (green trend-line). With the price basically consolidating for the past 6 months (Bull Flag/ Channel Down), it is time to revisit this successful chart and see what lies next.
With some modifications, we can see that after successfully holding the 1W MA50 on the early August test, the price should (relative to the past 2 Cycles), start the new Parabolic Rally (green Arc). We are 147 weeks (1029 days) from the previous Cycle Top and 21 weeks (147 days) since the Halving. In past Cycles that was the exact point ('we are here') where Bitcoin initiated the aggressive rise.
In all cases the 1W MA50 held, so that is the market's goal now, to keep it intact so that buyers don't lose the psychological Support level. If it holds, breaking above the 100k should be a minimum expectation, especially ahead of this month's start of an Interest Rate Cut Cycle and the U.S. elections (traditionally markets are bullish post event) in November.
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Bitcoin (BTCUSD) has been following very closely the structural patterns of past Cycles and one analysis we did on the similarity sequences with cyclical fractals has been the following (September 19 2023):
https://s3.tradingview.com/p/pWpc8HqK_mid.png
As you can see, BTC followed the exact path we plotted and did what was expected by breaking above the 1W MA100 (green trend-line). With the price basically consolidating for the past 6 months (Bull Flag/ Channel Down), it is time to revisit this successful chart and see what lies next.
With some modifications, we can see that after successfully holding the 1W MA50 on the early August test, the price should (relative to the past 2 Cycles), start the new Parabolic Rally (green Arc). We are 147 weeks (1029 days) from the previous Cycle Top and 21 weeks (147 days) since the Halving. In past Cycles that was the exact point ('we are here') where Bitcoin initiated the aggressive rise.
In all cases the 1W MA50 held, so that is the market's goal now, to keep it intact so that buyers don't lose the psychological Support level. If it holds, breaking above the 100k should be a minimum expectation, especially ahead of this month's start of an Interest Rate Cut Cycle and the U.S. elections (traditionally markets are bullish post event) in November.
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ETHEREUM Closed August above 1M MA50, keeping bullish case alive.
Ethereum (ETHUSD) may have completed three straight red months (1M candles) but despite the recent correction, managed to close August above the 1M MA50 (blue trend-line), in spite of touching it earlier within the month.
This is a key Support level as it also held during the August - October 2023 bottom formation, initiating the multi-month rally up until March 2024. This makes it a long-term Support and as long as it is holding, it is keeping ETH within bullish territory.
At the same time, the price also held the 0.5 Fibonacci retracement level from the Cycle bottom. The last time that happened was during the previous Cycle in September - October 2020. After it held, this kick-started the Cycle's Parabolic Rally to just above the 1.5 Fibonacci extension level.
As a result, as long as the 1M MA50 is holding, we can expect the next High to be as high as 11500, even though 8k would seem more reasonable in terms of market cap and thus feasible as a long-term Target.
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Ethereum (ETHUSD) may have completed three straight red months (1M candles) but despite the recent correction, managed to close August above the 1M MA50 (blue trend-line), in spite of touching it earlier within the month.
This is a key Support level as it also held during the August - October 2023 bottom formation, initiating the multi-month rally up until March 2024. This makes it a long-term Support and as long as it is holding, it is keeping ETH within bullish territory.
At the same time, the price also held the 0.5 Fibonacci retracement level from the Cycle bottom. The last time that happened was during the previous Cycle in September - October 2020. After it held, this kick-started the Cycle's Parabolic Rally to just above the 1.5 Fibonacci extension level.
As a result, as long as the 1M MA50 is holding, we can expect the next High to be as high as 11500, even though 8k would seem more reasonable in terms of market cap and thus feasible as a long-term Target.
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WTI OIL formed 1st 1W Death Cross in 4.5 years!
The last long-term signal (July 09, see chart below) on WTI Oil (USOIL) was a rejection (sell) at the top of the former Triangle (Lower Highs trend-line):
https://www.tradingview.com/chart/USOIL/gXENbmQZ-WTI-OIL-Rejected-on-the-9-month-Resistance-Still-good-to-sell/
The price not only broke below both the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) but also the bottom of the Triangle. The result this week is the formation of a 1W Death Cross, the first one since the COVID crash back in March 2020!
Naturally this is a strong bearish signal, which will be confirmed if the price breaks below the Higher Lows trend-line. If it does we may see a fatal market collapse, as this is a cyclical signal (observe the Sine Waves). In May 2009, it was invalid as the Housing Crisis preceded it, in November 2014 it was halfway through the sell-off of the Oil Crisis and Chinese economic slowdown and in March 2020 it came earlier relative to the previous two but still after the price broke below the Higher Lows trend-line.
As a result, this trend-line is of the utmost importance currently and only if broken (and close a 1M candle below it) can we consider a similar collapse. If it does, we expect at least $45.00, on the way to the Symmetrical Support Zone test.
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The last long-term signal (July 09, see chart below) on WTI Oil (USOIL) was a rejection (sell) at the top of the former Triangle (Lower Highs trend-line):
https://www.tradingview.com/chart/USOIL/gXENbmQZ-WTI-OIL-Rejected-on-the-9-month-Resistance-Still-good-to-sell/
The price not only broke below both the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) but also the bottom of the Triangle. The result this week is the formation of a 1W Death Cross, the first one since the COVID crash back in March 2020!
Naturally this is a strong bearish signal, which will be confirmed if the price breaks below the Higher Lows trend-line. If it does we may see a fatal market collapse, as this is a cyclical signal (observe the Sine Waves). In May 2009, it was invalid as the Housing Crisis preceded it, in November 2014 it was halfway through the sell-off of the Oil Crisis and Chinese economic slowdown and in March 2020 it came earlier relative to the previous two but still after the price broke below the Higher Lows trend-line.
As a result, this trend-line is of the utmost importance currently and only if broken (and close a 1M candle below it) can we consider a similar collapse. If it does, we expect at least $45.00, on the way to the Symmetrical Support Zone test.
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NASDAQ won't correct again in 2024
It has been almost 1 year (October 24 2023, see chart below) when we called for a mega buy opportunity on Nasdaq's (NDX) last bottom:
https://www.tradingview.com/chart/NDX/1bh9d7eA-NASDAQ-flashed-a-13-years-old-BUY-SIGNAL/
As you can see, the index started an insane rally sequence right on that weekly candle and didn't correct again that much before the recent July - August 2024 pull-back.
The gains from that bottom buy signal have been almost +50% and as the 1W MA50 (blue trend-line) was tested on the early August Low and held, we expect Nasdaq to resume and maintain the steady bullish trend for the rest of the year.
The next Target before it gives a medium-term correction again in our opinion is 22500, which is exactly on the 1.618 Fibonacci extension from the October 2022 market bottom.
The reason we project this target is because, as you can see on our October 2023 analysis above, we find remarkable similarities between the 2022 Inflation Crisis correction and the 2008 Housing Crisis.
This is what helped us give the mega buy signal in October, because the price formed a 1W MA50/MA100 Bullish Cross, the first since February 2010 and the correction was contained above the 0.618 Fibonacci retracement level. So with the 1.236 Fib already achieved during the current (blue) Channel Up (see how both recovery sequences take place within Channel Up patterns), the next in line is the 1.618 Fib at 22500.
According to all the above, the next time that Nasdaq could correct might be early in 2025.
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It has been almost 1 year (October 24 2023, see chart below) when we called for a mega buy opportunity on Nasdaq's (NDX) last bottom:
https://www.tradingview.com/chart/NDX/1bh9d7eA-NASDAQ-flashed-a-13-years-old-BUY-SIGNAL/
As you can see, the index started an insane rally sequence right on that weekly candle and didn't correct again that much before the recent July - August 2024 pull-back.
The gains from that bottom buy signal have been almost +50% and as the 1W MA50 (blue trend-line) was tested on the early August Low and held, we expect Nasdaq to resume and maintain the steady bullish trend for the rest of the year.
The next Target before it gives a medium-term correction again in our opinion is 22500, which is exactly on the 1.618 Fibonacci extension from the October 2022 market bottom.
The reason we project this target is because, as you can see on our October 2023 analysis above, we find remarkable similarities between the 2022 Inflation Crisis correction and the 2008 Housing Crisis.
This is what helped us give the mega buy signal in October, because the price formed a 1W MA50/MA100 Bullish Cross, the first since February 2010 and the correction was contained above the 0.618 Fibonacci retracement level. So with the 1.236 Fib already achieved during the current (blue) Channel Up (see how both recovery sequences take place within Channel Up patterns), the next in line is the 1.618 Fib at 22500.
According to all the above, the next time that Nasdaq could correct might be early in 2025.
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SOLANA The 1W MA50 and the RSI Support calling for $850 at least
Almost 3 months ago (June 14, see chart below), we published our long-term thesis on Solana (SOLUSD), arguing that it wasn't the time to buy, not until it tested the 1W MA50 (blue trend-line):
https://www.tradingview.com/chart/SOLUSD/uSFT9Ars-SOLUSD-Not-the-time-to-buy-yet-Watch-the-1WRSI-Is-4k-realistic/
As you can see that turned out to be the case as early last month, the price hit the 1W MA50 and rebounded. Last week's correction though puts this thesis in jeopardy and the 1W MA50 needs to hold. If not, we risk our maximum tolerance level on the 1W MA200 (orange trend-line), if the Bull Cycle is to stay alive. They key however lies on its 1W RSI.
SOL has been on a correction mode since the March 2024 High, in an attempt to technically harmonize the massive rally of 2023. The 1W RSI Double Topped in the same month and as the correction unfolds, it came last week the closes it has been to the Bull Cycle's Buy Zone since December 21 2020. This Zone is where buyers make their presence during Bull Cycles and not Bear Cycle bottoms.
On the previous Cycle, Solana rose by 51250% from the time is started to form the current long-term Fibonacci Channel Up. If we measure the same % growth from the recent Bear Cycle bottom, then we are looking at a peak a little above $4000. That is the most optimistic scenario we can get.
Keep in mind that Solana has already rose by +2500% up to March's High and if it indeed reaches 4k this Cycle, the rise will be less (+1900%) from March's High than it was from December 2022 to March 2024.
A more realistic target for those who don't want to hold for that long and assume higher risk, would be $850.00, which is expected to be at the top of the MMBs.
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Almost 3 months ago (June 14, see chart below), we published our long-term thesis on Solana (SOLUSD), arguing that it wasn't the time to buy, not until it tested the 1W MA50 (blue trend-line):
https://www.tradingview.com/chart/SOLUSD/uSFT9Ars-SOLUSD-Not-the-time-to-buy-yet-Watch-the-1WRSI-Is-4k-realistic/
As you can see that turned out to be the case as early last month, the price hit the 1W MA50 and rebounded. Last week's correction though puts this thesis in jeopardy and the 1W MA50 needs to hold. If not, we risk our maximum tolerance level on the 1W MA200 (orange trend-line), if the Bull Cycle is to stay alive. They key however lies on its 1W RSI.
SOL has been on a correction mode since the March 2024 High, in an attempt to technically harmonize the massive rally of 2023. The 1W RSI Double Topped in the same month and as the correction unfolds, it came last week the closes it has been to the Bull Cycle's Buy Zone since December 21 2020. This Zone is where buyers make their presence during Bull Cycles and not Bear Cycle bottoms.
On the previous Cycle, Solana rose by 51250% from the time is started to form the current long-term Fibonacci Channel Up. If we measure the same % growth from the recent Bear Cycle bottom, then we are looking at a peak a little above $4000. That is the most optimistic scenario we can get.
Keep in mind that Solana has already rose by +2500% up to March's High and if it indeed reaches 4k this Cycle, the rise will be less (+1900%) from March's High than it was from December 2022 to March 2024.
A more realistic target for those who don't want to hold for that long and assume higher risk, would be $850.00, which is expected to be at the top of the MMBs.
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TESLA broke above the correction Resistance and is aiming for $300 next!
Last month (August 15, see chart below) we gave a pull-back buy signal on Tesla (TSLA) and the price action swiftly responded with a August 28 Low and then rebound:
https://www.tradingview.com/chart/TSLA/GSJQtf2e-TESLA-starting-an-aggressive-bullish-reversal-to-380/
The rebound was on the 1D MA200 (orange trend-line) and today we see a strong bullish break-out above the 1D MA50 (blue trend-line). This alone is enough to confirm the start of the next phase of the Bullish Leg, since the long-term pattern is a Channel Up, as closing above 228.00 will constitute a Higher High.
Technically the structure is similar to the previous mid-Bullish Leg consolidation (April 30 - June 24), even the 1D MACD sequences between the two fractals are similar. In that sense we can't rule out some more ranged trading for September but on the long-term our Target remains unchanged.
We expect the $300 level to break before November.
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Last month (August 15, see chart below) we gave a pull-back buy signal on Tesla (TSLA) and the price action swiftly responded with a August 28 Low and then rebound:
https://www.tradingview.com/chart/TSLA/GSJQtf2e-TESLA-starting-an-aggressive-bullish-reversal-to-380/
The rebound was on the 1D MA200 (orange trend-line) and today we see a strong bullish break-out above the 1D MA50 (blue trend-line). This alone is enough to confirm the start of the next phase of the Bullish Leg, since the long-term pattern is a Channel Up, as closing above 228.00 will constitute a Higher High.
Technically the structure is similar to the previous mid-Bullish Leg consolidation (April 30 - June 24), even the 1D MACD sequences between the two fractals are similar. In that sense we can't rule out some more ranged trading for September but on the long-term our Target remains unchanged.
We expect the $300 level to break before November.
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NIFTY Next buy opportunity on the 1D MA50.
We had another success on the Nifty 50 Index (NIFTY) on our last buy signal (August 09, see chart below), as we bought after a confirmed rebound on the 1D MA50 (blue trend-line), with the index being currently very close to our 25500 Target:
https://www.tradingview.com/chart/NIFTY/3G7kR5Lr-NIFTY-Doing-exactly-what-is-expected-from-it/
The index continues to follow the a cyclical pattern and this is how we made this previous successful prediction on the 1D MA50. As you can see it was the very same rebound on January 24 2024 (1D MA50 and bottom of the Megaphone) that rose by +6.64% before turning sideways again into a larger (dashed) Megaphone.
We are about to enter this fractal symmetry and potentially initiate a new Megaphone. The former one gave this first buy opportunity on the 1D MA50 again, then on the 1D MA100 (green trend-line) and finally near the 1D MA200 (orange trend-line). An additional buy signal was when the 1D RSI hit its Support Zone.
As a result we are closing the previous buy now on profit and will wait for the 1D MA50 contact to buy again and target the top of the Megaphone (Higher Highs trend-line) at 25700.
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We had another success on the Nifty 50 Index (NIFTY) on our last buy signal (August 09, see chart below), as we bought after a confirmed rebound on the 1D MA50 (blue trend-line), with the index being currently very close to our 25500 Target:
https://www.tradingview.com/chart/NIFTY/3G7kR5Lr-NIFTY-Doing-exactly-what-is-expected-from-it/
The index continues to follow the a cyclical pattern and this is how we made this previous successful prediction on the 1D MA50. As you can see it was the very same rebound on January 24 2024 (1D MA50 and bottom of the Megaphone) that rose by +6.64% before turning sideways again into a larger (dashed) Megaphone.
We are about to enter this fractal symmetry and potentially initiate a new Megaphone. The former one gave this first buy opportunity on the 1D MA50 again, then on the 1D MA100 (green trend-line) and finally near the 1D MA200 (orange trend-line). An additional buy signal was when the 1D RSI hit its Support Zone.
As a result we are closing the previous buy now on profit and will wait for the 1D MA50 contact to buy again and target the top of the Megaphone (Higher Highs trend-line) at 25700.
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BITCOIN on the Sine Wave Buy Zone but won't last for long!
Bitcoin (BTCUSD) may be under a quite strong short-term correction since the August 27 rejection on the 1D MA200 (orange trend-line) but based on this 2-year Cyclical Chart, it has high chances of finding Support again and start a rally similar to the two it had over this time span.
Let's start with the long-term outlook which remained bullish after BTC hit and rebounded (August 06) on the 1W MA50 (red trend-line), its long-term Support since March 13 2023. The formation of the 1D Death Cross may have offset some of this optimism but on this cyclical pattern it is not a bearish sign as last time it emerged (September 11 2023), Bitcoin formed its new bottom at the time.
In fact it was inside a short-term (dotted) Channel Up, the vessel pattern which took the price from the bottom to a new +100% rally. The key parameter was the fact that the 1D MA200 broke and later was retested and held as Support. This is most likely why we are having the recent pull-back, because even though the price broke above the 1D MA200, it failed to hold.
The 1D RSI also prints a similar pattern to the previous two bottom fractals on this chart and it appears that relative to those past sequences, we are currently after the first RSI peak and pull-back. On the price action, we illustrate the relative position of now and then with circles.
The Sine Waves do perhaps the most efficient depiction of the price cyclicality, clearly displaying where Bitcoin should be bought and where sold. At the moment we are just past the most optimal Buy Entry so it the opportunity still exists but may not last for long! Another +100% rise from August's recent bottom, will see Bitcoin test the psychological benchmark of $100k.
So what do you think? Is a new rally this close, potentially timed after the Fed cuts the rates in 2 weeks? Feel free to let us know in the comments section below!
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Bitcoin (BTCUSD) may be under a quite strong short-term correction since the August 27 rejection on the 1D MA200 (orange trend-line) but based on this 2-year Cyclical Chart, it has high chances of finding Support again and start a rally similar to the two it had over this time span.
Let's start with the long-term outlook which remained bullish after BTC hit and rebounded (August 06) on the 1W MA50 (red trend-line), its long-term Support since March 13 2023. The formation of the 1D Death Cross may have offset some of this optimism but on this cyclical pattern it is not a bearish sign as last time it emerged (September 11 2023), Bitcoin formed its new bottom at the time.
In fact it was inside a short-term (dotted) Channel Up, the vessel pattern which took the price from the bottom to a new +100% rally. The key parameter was the fact that the 1D MA200 broke and later was retested and held as Support. This is most likely why we are having the recent pull-back, because even though the price broke above the 1D MA200, it failed to hold.
The 1D RSI also prints a similar pattern to the previous two bottom fractals on this chart and it appears that relative to those past sequences, we are currently after the first RSI peak and pull-back. On the price action, we illustrate the relative position of now and then with circles.
The Sine Waves do perhaps the most efficient depiction of the price cyclicality, clearly displaying where Bitcoin should be bought and where sold. At the moment we are just past the most optimal Buy Entry so it the opportunity still exists but may not last for long! Another +100% rise from August's recent bottom, will see Bitcoin test the psychological benchmark of $100k.
So what do you think? Is a new rally this close, potentially timed after the Fed cuts the rates in 2 weeks? Feel free to let us know in the comments section below!
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