Considering the convergence level & wave count, have drawn few important support & resistance levels.
At current price structure, the prices could extend upto 84700 -84800 levels, this level has more convergence or going to be the area of confluence.
& price movement also stiff & it has expended more than 1.5X of 200 EMA.
T1: 79450
T2: 84800
T3: 90800
The market looks bullish because it already broke 1 Day timeframe breakdown and till now gold only hitted target 1 and if I’m not wrong it will go up above 2050 to hit Target 2.
In this chart i am gonna show your how to work properly this strategy . so keep stay tune and wish your very best to becoming an professional Forex trader .
BTC is already in a strong downtrend and now is in a sideways zone. So, I analyze the next possible move using simple S/R. If there is anything else feel free to comment.
NOTE: DO YOUR OWN ANALYSIS BEFORE ANY INVESTMENT
Thank You
Technical analysis:
#matic(Daily update)
* MATICUSDT is moving in falling wedge pattern, the beginning of an uptrend is expected when it will break falling wedge upside.
*The price is trading BELOW 21- MA as well as 50 MA, NEED to breakout both MA's as well as downtrend to be bullish .
*MATIC is now testing the major support zone. MATIC need to hold above $0.75...
Technical analysis:
Bitcoin held the 34700 support as said in my last updates. This level needs to hold. Currently apart from every possible way BTC entered back into the channel. A very clear sign of manipulation. BTC if fails to hold the 34.7k level by the weekly close be ready for 28k. Even I got into this trap. Bought back BTC around 36.5k. Bought some more...
BNB recently respected its old support at 227 & get a nice bounce from there so if it goes in this same direction then the next targets will be:
1st>>>400
2nd>>>608
3rd>>>680 OR
If can't hold it upward move & fall below 227 support then we will see it's in a new DIP.
So, take advantage of both scenarios as per your strategy & capital.
HAPPY...
Currently, BTC stays on its strong support at $45,000, if break from here:
BELOW: possible target will be $29,500
ABOVE: possible target will be $64,200n
So, now wait for the market move>>>>> USE 2 R/R ratio & 2% risk per trade
HAPPY TRADING
The stock is taking support at 21 MA on the daily timeframe and expected to break the resistance. I have marked both the possibilities on the chart as it is following the channel very well.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
