Bitcoin is Overbought, but $100,000 Target is Still at HandFenzoFx—Bitcoin is overbought at $97,000, a signal indicated by the Stochastic Oscillator. The price is expected to consolidate before the uptrend resumes. In this scenario, a dip toward $93,565 may provide a favorable entry point into the bull market.
Watch this level, followed by $91,720, for bullish signals such as candlestick patterns.
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Btc-e
EURAUD DETAILED ANALYSIS BULLISH OR BEARISHEURAUD is currently trading around 1.75600, forming a classic falling wedge pattern on the 12-hour timeframe. This structure typically signals a bullish reversal, and with price compressing near the wedge’s apex, the likelihood of a breakout to the upside increases significantly. Momentum is slowing on the downside, while buyers are beginning to show signs of re-entering the market, suggesting the pair is gearing up for a potential bullish surge toward the 1.85600 level.
Fundamentally, the euro is holding firm amid persistent inflation data from the eurozone, increasing speculation that the ECB might remain hawkish longer than expected. On the other hand, the Australian dollar is facing pressure due to softer commodity demand and cautious rhetoric from the RBA. This divergence in central bank outlooks favors euro strength in the near term. Today's minor beat on euro PMI data and lackluster performance in Aussie retail sales reinforces the strength of this directional bias.
Technically, this falling wedge is forming after a strong bullish impulsive leg, which adds further credibility to the reversal setup. Buyers have successfully defended the 1.7500 psychological zone, and a breakout above the wedge resistance could trigger a sharp rally. A move above 1.7600 would likely act as confirmation for bulls, opening the door for a measured move toward the 1.85600 target area.
As long as price holds above the 1.7400 region, this remains a high-probability bullish setup with a strong risk-reward profile. Traders will be closely watching for volume increase and price rejection candles at resistance to confirm the breakout. This is a prime example of a technical and fundamental confluence setup that professional traders look for when positioning for medium-term swing trades.
EURJPY BULLISH OR BEARISH DETAILED ANALYSIS ??EURJPY is currently trading around 162.800 and showing clear bullish momentum after a clean bounce off a strong support zone. Price has been consolidating above a well-established demand area, and today's candle confirms renewed buyer interest. The reaction from this level highlights a potential shift back to the upside, with 169.000 marked as the next significant target. The rejection wicks and structure suggest accumulation, with the market gearing up for a bullish continuation.
From a fundamental perspective, the euro is gaining strength on the back of better-than-expected economic data across the eurozone, while the Japanese yen continues to face broad pressure due to the Bank of Japan's dovish stance. The BOJ remains committed to ultra-loose monetary policy, which puts the yen at a disadvantage against stronger currencies like the euro, especially when inflation expectations in Europe remain sticky.
Technically, EURJPY has respected this support zone multiple times, creating a solid base of demand. Each test has been met with higher lows, reinforcing the bullish bias. The price action is forming a classic support-retest continuation pattern, and if this structure holds, we could see a swift move toward 169.000. Volume and momentum indicators are also beginning to align in favor of the bulls.
Looking forward, as long as price holds above the 162.200 area, the path of least resistance remains upward. Traders will be watching for continuation signals and breakouts of minor resistance zones to confirm the move. This setup offers a favorable risk-reward structure, and with market sentiment tilting toward euro strength, EURJPY has the potential to deliver solid gains in the coming sessions.
BITCOIN Mirror fractal from the past calls for massive rally!Bitcoin (BTCUSD) appears to be repeating almost the exact same price action as mid-late 2020 as it has broken above the Pivot trend-line that separates the recent distribution from the 2nd Accumulation phase and has successfully re-tested it while the MA50 (blue trend-line) is holding as Support.
If the latter continues to hold, then it might fuel a massive rally similar to October 2020 - April 2021. As you can see both fractals started of with a 1st Accumulation Phase (blue Rectangle) being supported always by their respective MA200 (orange trend-line), which led to the eventual Distribution Phase (red Arc). Even their RSI sequences are identical.
Is this another pattern supporting that BTC will reach at least $150k next? Feel free to let us know in the comments section below!
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Bitcoin Still Stuck in Resistance – Eyes on CME Gaps & USDT.D%Bitcoin ( BINANCE:BTCUSDT ) touched $92,830(first target) and started to rise as I expected in the previous idea . Overall, Bitcoin has been moving in a range for about 12 days .
Note : In general, trading in a range market is more difficult than in a trending market . If your performance in a range market is not good, it is better not to trade until the trend is clear (this is just a suggestion).
Bitcoin is currently trading at a Heavy Resistance zone($95,950-$88,500) and has failed to break through it, and it seems like Bitcoin needs more momentum to break through this zone. Do you think Bitcoin will finally break through the Heavy Resistance zone($95,950-$88,500)?
In terms of Elliott Wave theory , it appears that Bitcoin has completed a five-wave impulsive and we should expect Corrective waves .
The analytical conditions of the Bitcoin chart have been a bit ambiguous in the past few days, so it's better to take a look at the USDT.D% ( CRYPTOCAP:USDT.D ) chart to increase the accuracy of Bitcoin analysis .
USDT.D% failed to break the Support zone(5.13%-4.95%) after several attacks. It currently appears to be forming an Ascending Broadening Wedge Pattern . It appears that USDT.D% needs to complete this pattern to break the support zone, and if this pattern fails , we should expect further increases =Bitcoin crash .
I expect Bitcoin to decline to the Support zone($92,910-$91,414) , 21_SMA(Weekly) and Cumulative Long Liquidation Leverage($93,359-$92,296) and probably fill the CME Gap($92,525-$91,415) this time and then start to rise and prepare to break the Heavy Resistance zone($95,950-$88,500) and fill the CME Gap($97,680-$96,455) .
Cumulative Short Liquidation Leverage: $98,989-$97,924
Note: If Bitcoin breaks below the Support zone($92,910-$91,414), we should expect further declines.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
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BTC New Update (8H)This analysis is an update of the analysis you see in the "Related publications" section
In the previous scenario, we considered that Bitcoin was in a diametric where wave E had extended. However, after reviewing the charts and analyzing various scenarios, we decided to revise the wave count as shown in this update, since wave E of the previous diametric scenario became overly extended.
You can see the complete wave count of the chart in this update. The correction in Bitcoin started from the point where we placed the red arrow on the chart. This correction was a diametric and ended where the green arrow is placed.
From the point where the green arrow is shown on the chart, Bitcoin's bullish wave has started, which is either wave A or W.
According to this scenario, the expected rejection zone should be between 98K and 103K.
The lowest-risk area for price rejection is the red box.
A daily candle close above the invalidation level will invalidate this analysis.
Let’s see what happens.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
BTC - Will history repeat itself?In this description, I will compare the current price action of BTC with the market behavior seen in 2021. Both cycles share notable similarities in their structure.
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2021 bullmarket
During the 2021 bull market, BTC displayed classic topping price action. The chart showed slightly higher highs and higher lows, eventually forming a bearish Head & Shoulders pattern. This signaled a shift in momentum, and BTC subsequently broke down, confirming the bearish outlook.
At the lows later in 2021, Bitcoin’s price action became more corrective, with slightly lower lows and lower highs-often an early indication of a potential trend reversal. That reversal materialized as BTC launched into a strong impulse move to the upside, rallying all the way to the key Golden Pocket Fibonacci level before experiencing a modest retracement.
Following this healthy pullback, BTC gathered enough strength to break through resistance and surge to a new all-time high (ATH), which ultimately marked the peak of that bull cycle.
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This bullmarket
In the current bull market, BTC formed a classic double top pattern, echoing similar setups from previous cycles. After reaching highs near $110k BTC experienced a significant correction, dropping to around $74k. At this level, the price action turned corrective, with a series of slightly lower lows and lower highs-reminiscent of the consolidation seen at the 2021 market bottom.
During this consolidation, BTC established three notable lows, forming a potential base for a reversal. Following this corrective phase, BTC surged upward in a strong impulse move, reaching the critical Golden Pocket-the 61.8% to 65% Fibonacci retracement zone, which is widely regarded as a key area for potential reversals or continuation of trends.
Currently, BTC is consolidating near this Golden Pocket. Traders are watching closely to see if the price will face rejection here, as it did in 2021, or if it can break above and sustain a new uptrend. The outcome at this level will likely determine whether the next major move is a continuation to new highs or a deeper retracement.
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Conclusion
When comparing the corrections following the 2021 and 2025 peaks, the similarities are striking. Both cycles feature a bottom formed through a similar pattern, followed by a strong move up to the Golden Pocket Fibonacci level. The key question now is whether BTC will experience another corrective pullback before making a renewed attempt at the all-time high, or if it will break through resistance and continue its upward momentum. Only time will tell which path the market will choose.
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BTC is suggesting a potential bearish reversalBitcoin (BTC) is currently exhibiting a head and shoulders pattern near the $96K– GETTEX:97K resistance zone, suggesting a potential bearish reversal. This pattern, characterized by three peaks—the middle being the highest—indicates that the upward trend may be weakening .
The Federal Open Market Committee (FOMC) meeting on May 7, 2025, is a pivotal event for BTC. While the consensus anticipates that the Fed will maintain current interest rates, the market is keenly awaiting Chair Jerome Powell's remarks for hints of future monetary policy directions. A dovish tone could bolster BTC prices, whereas a hawkish stance might exert downward pressure .
Technical analysis reveals that BTC has been trading within a range of $93,399.86 to $97,625.81 over the past 24 hours, with the current price around $96,362. The Relative Strength Index (RSI) stands at 58, suggesting that BTC is approaching overbought territory but hasn't crossed it yet .
A significant support level lies around $88,700, where substantial liquidity could trigger a price rebound if tested. However, if the head and shoulders pattern confirms a breakdown, BTC might retest lower support levels, potentially around $78,000 .
Actionable Insight: Traders should closely monitor the neckline of the head and shoulders pattern and the outcome of the FOMC meeting. A break below the neckline with increased volume could signal a bearish trend, while a dovish Fed stance might invalidate the pattern, leading to bullish momentum.
More Analysis and Trading Ideas on SorooshX
Bitcoin 2nd Entry? Is It Possible? Can I Do 20X Now?Can I still do Bitcoin with leverage? Absolutely but...
Where were you when the prices were low?
Where were you when Bitcoin traded below 80K, 90K?
Leveraged is for experts only so I would say no and yes.
No you cannot use leverage if you want to use leverage now that prices are going up. It means you have no plan and regardless if the action keeps going for long that no plan strategy will result in a big loss later down the road.
If you do decide to use leverage after the bottom is far away ($75,000 remember?), in that case you should use a maximum of 2-3X.
Yes you can use leverage if you can I don't need to tell you so. If I have to tell you so then it means that you are better off buying some Altcoins spot. Why? Because you can get the same growth potential but without the risk, anxiety and stress.
Why would you like to use leverage now?
You are thinking of making money, lots of it and fast. You are using greed to decide.
If that's the case, no! Go back to scratch and start from zero.
It is better to earn 100% very slow than lose everything thinking of making money fast.
Imagine you have a $5,000 capital and you want to open some positions using lev. You are thinking low risk, the market is already up and several days green. Tomorrow there is some political event and shakeouts can happen out of the blue. You might think you did it good, entered with low risk but as soon as there is advance you decide to buy more and your leverage increase. As prices rise you buy more and so your risk continues to increase. Then just a strong sudden shakeout and your whole stack is gone.
The intentions were nice, you wanted to make money now that Bitcoin is going up but you didn't plan and you ignored the market 100% when prices were low. Accept the loss and move on.
Now, instead of a leveraged position use $5,000 to do some spot trades. The market is bullish, the Altcoins are bullish and ready to grow next. It should be easy to pick 3-5 top pairs and double-up in a couple months.
Say it takes three months for a 200% profits, quite do-able with the Altcoins with current market conditions; now you have a capital of $15,000. Now you can use $5,000 to try leverage as much as you want but only after a correction hits and support is in, that's the time to go LONG.
And then you have $10,000 left. $5,000 is your initial layout and $5,000 is profits to enjoy with wife, your husband, your friends, your siblings or all by yourself, all alone. Whatever you do is up to you.
It is better to earn 200% slow, than to risk losing everything because greed is eating away at your soul.
Just let it go. It is never worth it to lose your hard earned cash for a dream that never turns up. Just let it go, you are better off reading and studying, you are better off saving that money rather than giving it up.
Either way, you will learn. If you engage the market long-term, accept your mistakes, eventually, you will be on the right side. Read, study, practice and meditate.
Money is easy when you develop the right mindset.
It is all in your mind.
Namaste.
Breakout confirmation: A daily close above $98K with strong vol📋 Trade Plan
Long bias remains valid above $93.5K.
Breakout confirmation: A daily close above GETTEX:98K with strong volume targets the $102.5K level.
Pullback Buy Zone: $93.5K–$94.5K if price respects support.
Caution: Overbought oscillators combined with resistance suggest a short-term pullback risk before continuation.
🟢 Long bias intact above $93.5K
🔴 Avoid fresh longs here. Wait for either breakout above GETTEX:98K or dip to support
🎯 Target: $102.5K on breakout
🛑 Invalidation: Close below $93.5K
Bitcoin Moving Averages: Back To BasicsBitcoin today is trading safely above the long-term SMA200 moving average on the daily timeframe. This is a major signal. The break above this level happened 22-April with a huge green candle. This event marks the confirmation of the next major advance. While Bitcoin was trading below SMA200 daily, black line on the chart, there was still space for doubt. Once the action moved above this indicator, the bullish bias is confirmed.
Bitcoin is also trading daily above EMA8/13/21 & 34 which are moving averages to gauge the short-term potential of an asset.
Then we have EMA55 and EMA89 which is used to measure mid-term potential. Once Bitcoin trades above EMA55 daily, we can say that mid-term growth potential is now active. 1-3 months. Once the action moves above EMA89, this potential is fully confirmed.
Finally, I track also EMA233 and EMA377, very long-term and Bitcoin trades above these as well. These are in the same range as SMA200.
Bitcoin is ultra-bullish right now and set to produce additional growth.
Remember that the MACD and RSI are also flashing bullish signals across all timeframes. Also basic.
All the technicals are 100% bullish.
Thanks a lot for your continued support.
Bitcoin (and the Altcoins) is going up.
P.S. The green action today allows for volatility tomorrow without hurting any of the bullish technicals. So bullish it is impossible to miss. The fifth consecutive week green.
Namaste.
Bitcoin Short-Term Support Zone, Buy Zone & Extreme Danger ZoneBitcoin is now trading within its main long-term 100K-200K beyond entry and buy zone. These prices are listed green on the chart.
The support zone is above $91,000 and the extreme danger zone (which won't be tested—Bitcoin is safe and strong) is $89,250.
If Bitcoin trades below $95,000 this is a major opportunity to buy and even to open LONG (lev.) positions. Any trading above $90,000 is ultra-bullish.
If Bitcoin trades at $89,250 or higher market conditions remain extremely good but this is a rare opportunity. It is likely we will not be able to enjoy these prices again but if it happens, make sure to make the best of it.
Any trading below $95,000 is a super strong buy.
Any trading above $95,000 confirms the continuation of the bullish move.
Bitcoin is neutral while the Fed decision is in. When the Fed publishes its decision, there will be some volatility followed by growth.
» Late May 2025 the entire Cryptocurrency market will be ultra-bullish. Repeat, ultra-bullish this very same month.
» Whatever you do, buy and hold and accumulate like it is the end of the world. This is truly the last chance. You've been warned.
Thanks a lot for your continued support.
You deserve the best and you are Gold!
Namaste.
Gold XAUUSD Move 06.05.2025🔹 BUY-1: 3350–3355 Zone
Conditions to Enter:
Support must hold at the 3350–3355 zone.
Wait for a clear bullish M15 candle close above the support area to confirm strength.
Rationale:
This zone overlaps with a Fresh Demand Zone identified on your chart.
Entry here takes advantage of potential accumulation and demand absorption.
It's an early entry with a tighter stop loss (just below 3346–3350).
Ideal Setup:
Stop Loss: Below 3346.
Target: Near 3380–3400 zone or higher depending on momentum.
🔹 BUY-2: 3380–3385 Zone
Conditions to Enter:
Price must break above the 3380–3385 resistance zone.
Wait for a successful retest and bullish confirmation (engulfing/imbalance/M15 close above).
Rationale:
This is the breakout and retest trade mentioned on the chart.
Entering after confirmation reduces risk of a fakeout.
Aligns with institutional breakout behaviors.
Ideal Setup:
Stop Loss: Below the retest candle or previous structure (~3370 area).
Target: 3410–3430+ depending on R/R and momentum continuation.
Kindly show your support by follow, comment and share.
ETH (Ethereum)–High-Risk, High-Reward Setup Near Fair Value GapEthereum is showing early bullish signals within a broader downtrend, and a pullback toward the $1,700 zone—where it meets the underside fair value gap and 21-day moving average—may set the stage for a higher low and potential trend reversal.
🔹 Entry Zone:
$1,700
🎯 Take Profit Levels:
🥇 $2,000
🥈 $2,200
🥉 $2,400
🛑 Stop Loss:
$1,550 (below structure and invalidation point)
MOG (Mog Coin) Bounce Trade Setup – Early Recovery in PlayMOG is showing early reversal signs by reclaiming a key HTF support zone and forming a higher low near the 21-day moving average. This indicates a potential momentum shift and a solid bounce opportunity if follow-through volume confirms.
🔹 Entry Zone:
$0.00000060
🎯 Take Profit Levels:
🥇 $0.00000084
🥈 $0.00000110
🛑 Stop Loss:
$0.00000050 (below structure, protects against invalidation)
Market Likely to Resume Downtrend – Caution AdvisedAfter some consolidation, the market looks ready to resume its broader downtrend. Bullish momentum is fading, and resistance remains strong. Unless we see a breakout, downside pressure is likely to build.
Watching for confirmation via key support breaks or bearish signals. Stay cautious and manage risk. Not financial advice — just my view.
Bitcoin can bounce from support line of channel to 98500 pointsHello traders, I want share with you my opinion about Bitcoin. Looking at this chart, we can observe how the price of Bitcoin has been in recent price action. The asset had been confidently moving inside an upward channel, building structure through higher highs and higher lows. Each upward impulse was supported by pullbacks to the support line, showing continued buyer pressure. The latest breakout above the support area confirmed a bullish continuation, and the price entered the seller zone, where it faced resistance. Despite multiple attempts to break through, the price repeatedly turned around, forming a tight triangle pattern within the upper boundary of the channel. Currently, the price has broken down from the triangle, but it still holds above the channel's lower line. Given that the channel remains intact and there's no strong breakdown of the structure, I expect the price to rebound from the lower boundary and continue climbing toward my TP 1 at 98500, which aligns with the resistance line of the channel. Please share this idea with your friends and click Boost 🚀
HelenP. I Bitcoin may continue to grow inside upward channelHi folks today I'm prepared for you Bitcoin analytics. After bouncing from the lower boundary of the ascending channel and reacting strongly from the support zone near 92000, the price continues to respect the bullish structure. This level, which also aligns with the dynamic trend line, has acted as a powerful area of interest for buyers. Every touch to the trend line has resulted in a reversal to the upside, and this time may be no different. Previously, we saw a clear upward impulse that formed the base of the current trend channel. Then the market entered a consolidation with smaller pullbacks and held the 93000 zone with confidence. The recent retracement toward the trend line and support area is forming a higher low, which confirms buyer strength and sets the stage for another bullish leg. Given the strong support zone, the presence of an upward channel, and the steady bullish structure, I expect BTC to resume its upward move. My current goal is 99000 points. All elements signal bullish continuation. If you like my analytics you may support me with your like/comment ❤️
BTC Range Bound | Breakout Imminent ?👀 Welcome to my Trading View Analysis and Trading Channel Here , we share the latest market analysis, trading signals, and key insights together .
Ready for smarter trades ? ⭐️
⚡️Today , we're going to analyze the BTC( BitCoin) coin together on the daily timeframe and find triggers for our positions .
📊✨ Bitcoin 4H Technical Analysis & Weekly Outlook – May 6, 2025
🔸 BTC is currently trading within a consolidation range between $97,325 and $93,780, indicating a potential accumulation zone before the next major move. 🌀
🔍 Key Technical Levels:
📈 Resistance: Break above $97,325 could trigger a long entry, suggesting bullish continuation. 🚀
📉 Support: Drop below $93,780 may activate a short setup, signaling bearish pressure. ⚠️
📐 Indicators Breakdown:
🔹 EMA 100 & 200: Positioned below price, supporting the bullish bias. 🟢
🔹 EMA 50: Currently sitting above the 4H candle, posing short-term resistance. 🔴
📉 Volume: Noticeable decline, showing market indecision – a common pre-breakout signal. 📊
📌 Key Pivot: A candle close above $94,021 would validate it as strong support. 🧱
📰 Positive Market Developments:
🏦 Morgan Stanley plans to offer spot BTC trading via E*Trade – institutional adoption accelerating. 📈
🏢 Strategy (MicroStrategy) signals further Bitcoin accumulation – corporate trust remains strong. 💼
💰 Over $1.8B flowed into U.S. BTC ETFs last week – investor appetite is growing rapidly. 🧲
📈 Analysts forecast BTC reaching $120K–$200K by end of 2025 – fueled by macro trends & halving cycle. 🌕
💡 Final Takeaway:
🔐 Bitcoin continues to prove itself as a valuable long-term asset, backed by rising institutional interest, robust on-chain fundamentals, and strong technical signals. 🌟
📊 Triggers for both long and short positions are clearly marked on the chart – stay sharp and manage risk! 🎯
I love you all so much . 👀
don't forget about capital management and risk management .
Be careful with your positions . 🥇
BTCETH parabolic run pointing towards 100:1Historically, during bull markets, Ethereum frequently surpassed Bitcoin at various moments.
However, this time around, that trend has not materialised, leading to a decline in investor confidence.
With capital exiting the ETH market, sentiment has soured, and critical indicators are revealing significant losses.
Unless a robust bullish turnaround occurs, Ethereum's struggle may persist, as the market currently favors Bitcoin as the more secure option.
However once this parabola breaks, we could see a strong snap back reaction in favour of the more riskier #ALTS, #DEFI and #MEMES as #ETH is still the home for stablecoin issuance and still the most trusted secure smart contract blockchain available.
GBPUSD BULLISH OR BEARISH DETAILED ANALYSISGBPUSD is currently trading around 1.33400 and is displaying a promising bullish setup. The price action is coiling within a symmetrical triangle, which typically signals a potential breakout. A clear bullish structure has already formed following the recent impulse wave, and with the consolidation tightening, we are now closely watching for a breakout to the upside. The expected bullish breakout aligns with the projected target of 1.36000, offering a strong risk-reward opportunity for trend-following traders.
From a fundamental standpoint, the British pound is showing resilience despite broader dollar strength. Recent comments from the Bank of England have maintained a cautious yet firm tone regarding inflation control, hinting at the potential for rates to stay elevated longer than markets previously priced in. Meanwhile, the U.S. dollar index has seen some pressure amid mixed economic data and increasing speculation that the Federal Reserve may hold rates steady in the upcoming sessions.
Technically, GBPUSD remains well-supported above the 1.32500 level, with buyers defending key horizontal and trendline support areas. The recent compression in price suggests that volatility is about to expand, typically favoring the direction of the initial trend, which in this case remains bullish. Momentum indicators are beginning to curl higher, further supporting a breakout scenario.
In summary, GBPUSD is setting up for a high-probability bullish continuation. A confirmed breakout from the triangle could ignite a fresh rally toward 1.36000, especially if supported by dovish Fed rhetoric and firm UK economic sentiment. This setup is one to watch closely as it aligns both technically and fundamentally, positioning it as a favorable opportunity for medium-term swing trades.
XAUUSD Bullish or bearish Detailed AnalysisXAUUSD is currently trading around 3380, continuing its bullish momentum as previously anticipated. The price action has followed the projected path, delivering substantial profits for those positioned early. The next key resistance level is at 3450, aligning with the upper boundary of the ascending channel.
Fundamentally, gold's rally is supported by heightened safe-haven demand amid ongoing geopolitical tensions and a weakening U.S. dollar. Investors are closely watching the upcoming Federal Reserve meeting, with expectations leaning toward a dovish stance, which could further bolster gold prices .
Technical indicators suggest that the bullish trend remains intact, with the price maintaining its position above key moving averages. However, traders should be cautious of potential pullbacks as the market approaches overbought conditions.
In summary, XAUUSD is on track toward the 3450 target, supported by both technical and fundamental factors. Traders should monitor key resistance levels and macroeconomic developments to manage their positions effectively.