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# HDFCBANK ON THE EDGE OF A POTENTIAL BREAK OUTHDFCBANK one of the largest constituents of the market index is at the edge of a potential big breakout if it works out. There is a rounding pattern formed and it already has cleared the previous 1641 resistance and is at all time high but just need a green candle close above for confirmation. The Fibonacci extension levels indicates 1800 levels possible even if 50% FIB levels are met. The trend indicators ADX is DMI + bull zones and strength of it seen rising on all timeframes short/medium/long. The price momentum also is clearly bullish all around.However put tight stops below neckline of the breakout zone below entry candle. If this breaks out really you could image where nifty /bank nifty could get to.
NSE:HDFCBANKLong
by seekedgetrade
Weekly BTC-USD(6th September)After a week of consolidation, BTC, this week, breaks out from its sideways trend and currently trading above its psychological resistance of $50K. On the weekly TF, BTC formed a strong bullish candle which slightly resembles a Hammer Candlestick patter and gained by more than 6%. At the time of writing, BTC is trading at $52K. BTC has been trading in the Rising Channel formation for the past 7 weeks and has been respecting its lower band supports as every dip has resulted in a strong bounce back, it depicts that there is solid buying pressure is present at lower levels. Daily RSI is showing slight divergence with the price and has been facing a trendline resistance, which suggests a mild correction can take place in the coming weeks and with that it will retest its support zone of $50 to $51K. On the higher side, the immediate hurdle is present at $53K followed by the major resistance at $55K. On the lower side, the support levels have been shifting higher with the rising trendline. The nearest support is present at $50K followed by $48K. As compared to other top 10 crypto assets, BTC has been lagging in this rally till now but with this fresh breakout, one can expect that BTC may lead the pack this time. Also, the combined crypto market cap is now more than $2.35 Tr but still, the BTC’s market cap dominance is trading around its lower levels which suggests that we can expect a bounce-back in BTC M cap dominance.
COINBASE:BTCUSDLong
by TradeDog-Research
CHZ-USDTCHZ has been trading in a horizontal channel formation for the last 2 months. The sideways trend is still intact but at the time of writing, it is trying to breach its upper band resistance. On the weekly TF, CHZ has already gained more than 20% this week. Weekly MACD is also given bullish crossover which depicts that trend reversal can be expected in the coming days. At the time of writing, CHZ is trading at $0.33. On the higher side, the immediate hurdle is presented by the upper band of the channel which is at $0.36, if it closed above this level on a daily basis, the next potential target would be $0.42, followed by the next major resistance at $0.52. On the lower side, the nearest support is present at $0.30, if it breaches this support, the next support is presented by the middle band of the channel which is placed at 0.27 followed by the next major support at $0.24. On a larger TF, CHZ is trading in a descending channel formation with major resistance at $0.40, CHZ will have to sustain above this level which will act as a confirmation of the Trend Reversal.
Long
by TradeDog-Research