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BTCUSD: Key Levels and Projections Based on Elliott WavesBTCUSD has formed a corrective pattern on the daily timeframe, identified as a W-X-Y structure with seven distinct waves. The price found support at the 200 EMA, reaching a low of 49,57 7 before bouncing back. The sub-waves within this structure are clearly visible, with wave (1) and wave (2) completing at 62,729 and 52,546 respectively. Currently, BTCUSD is encountering strong resistance at the upper boundary of the corrective channel, posing a significant challenge for bullish momentum. Although wave (3) has managed to rise above wave (1), it has not yet confirmed a strong bullish breakout. To establish a decisive upward move, wave (3) needs to hold above wave B and breach the upper boundary of the channel. The breakout can help the price to get 100% of the whole correction. Failure to break out of this resistance zone could result in the corrective structure extending into an X-Z formation, leading to a prolonged consolidation phase. This would suggest more time is needed for the pattern to play out, causing frustration for traders looking for a clear bullish trend. We will provide further updates to our followers soon. - Trade technique by KP
BITSTAMP:BTCUSD
by Trade-Technique
2
PRAJIND // level // D #PRAJIND Current Price: *801.55 Trend: Bullish breakout after a consolidation phase, indicating strong upward momentum. Chart Pattern: Breakout from *760, showing potential for further gains. Support Levels: *760 and *720. Resistance Levels: *825 and *850. Volume: High at 13.356 million, well above the 15-day average (~3-4 million), signaling strong buying interest. Recommendation: Buy near ₹780-800 with a target of ₹850 and stop-loss at *750 for a swing trade.
NSE:PRAJINDLong
by SkyTradingZone
TATATECH Support & Resistnce #TATATECH Current Price: *1,121 Trend: Bullish consolidation, approaching a potential breakout. Chart Pattern: Ascending triangle formation suggests a potential upward breakout. Resistance: ₹1,169 (immediate); strong resistance at this level. Support: ₹1,080 (initial) and ₹1,045 (major). Volume: Recent trading volume of 4.4 million shares; 15-day average volume of 3.5 million shares. Recommendation: Consider buying on a breakout above ₹1,169 for swing trade or on pullbacks around ₹1,080 with a stop loss below ₹1,045 for better risk management.
NSE:TATATECHLong
by SkyTradingZone