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BITCOIN - Heading Below 20K...It's A Good Thing!We know this is an unpopular opinion BUT technically, Bitcoin is ripe for a move to the downside. On the monthly chart, we can see that we've completed a major wave 1 impulse and now we're in a wave 2 correction. We're looking for one more move down to complete this wave 2. See monthly chart below: It looks as if we're making a 535 correction and therefore, we believe we'll be moving towards the 20k region to complete wave C. Please note that we are still bullish on Bitcoin, as well as Crypto. We're looking for any buying opportunities to hold for the long term! We'll be loading up for the long term anywhere below 20k region. What do you guys think? Goodluck and as always, trade safe! See our previous setups below:
INDEX:BTCUSD
by WicktatorFX
385
Bitcoin Halving Contest: Time’s Ticking, But When’s It Kicking?Buckle up, crypto enthusiasts! The Bitcoin Halving is on the horizon, and the countdown has begun. But here’s the twist - every Bitcoin clock out there is telling a different time for when block 840,000 will hit the scene. It’s like they’re all watching different episodes of the same thrilling show. 🍿 So, what’s the real deal? When will the Bitcoin magic happen? That, my friends, is where you come in. We’re rolling out the red carpet for your predictions. 🌟 Dust off your crystal balls and tell us the exact date and time (down to the second, UTC style) when you think the halving will unfold. But here’s the game rule that adds a twist - only your first submission counts . Think of it as your opening move in a game of high-stakes chess. Make it count, because there are no do-overs. 🕰️✨ Here’s the kicker: only the predictions submitted before April 12th, at the stroke of midnight UTC , will enter the arena. Sharpen those pencils and mark your calendars. 📅✏️ The stakes? High. The reward? Higher. The five wizards closest to the halving moment will snag an exclusive TradingView T-shirt , a trophy of honor in the world of market experts. 👕🏆 Get set, predict, and may the odds be ever in your favor! Remember, it’s not just about guessing; it’s about being part of a moment that defines the future of finance. Let’s light up the charts with our collective predictions and watch as the Bitcoin saga unfolds. Ready, set, predict! ⬇️ 🚀 this idea and drop your prediction in the comments below! Good luck! 🍀
COINBASE:BTCUSD
by TradingView
216
NIKKEI-225 Analysis Indicates Possibility of CorrectionNIKKEI-225 Analysis Indicates Possibility of Correction from Historically High Levels On March 21, the value of the Japanese stock index reached a historical maximum, exceeding the level of 41,100 points. This was facilitated by: → Weak yen supporting exporters. It increases the value of profits earned abroad for a large number of companies that sell their products abroad and then convert the profits into yen. → Demand for shares of Japanese companies paying dividends. For example, shares of air conditioner manufacturer Daikin Industries rose by 2.82%. At the same time, the NIKKEI-225 chart signals indicate the likelihood of a correction, since: → The price is near the upper border of the ascending channel, from which resistance can be expected. → Based on the results of trading in the Asian session, a long upper shadow is forming on today’s candle – a sign of selling pressure (as shown by the arrow). It seems that the price of NIKKEI-225 is difficult to stay above the level of 41,000. If the Japanese stock market follows a correction scenario, the price of NIKKEI-225 may be supported by: → the lower boundary of a steeper ascending channel (shown in purple), which runs in the area of the Fibonacci level = 50% of the A→B impulse; → psychological level of 40,000. Bearish sentiment for NIKKEI-225 could be triggered by decisions from the Bank of Japan and the Ministry of Finance, which are concerned about the weakness of the yen — the USD/JPY rate is today near a 34-year low. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:J225
by FXOpen
3
How To Trade A Symmetrical Triangle Break-Out A symmetrical triangle is a geometric formation found in technical analysis, often appearing during periods of market consolidation. It's characterized by converging trendlines, typically drawn by connecting a series of lower highs and higher lows. This pattern reflects a balance between buyers and sellers, signaling indecision in the market regarding the future price direction. Here's how a symmetrical triangle pattern typically looks: Upper Trendline: Connects a series of lower highs. Lower Trendline: Connects a series of higher lows. As the price oscillates between these trendlines, the trading range becomes narrower, forming the triangle pattern. Trading a breakout in forex involves capitalizing on a significant price movement that occurs when the price breaks out of the symmetrical triangle pattern. Traders employ a systematic approach to identify, confirm, and capitalize on these breakouts: Pattern Identification: Recognizing the symmetrical triangle pattern entails observing the converging trendlines and confirming their formation with multiple swing highs and swing lows. Determining Breakout Direction: Traders closely monitor price action within the triangle, looking for signs of an impending breakout. Breakouts can manifest in either direction, and traders seek confirmation through a decisive breach of a trendline, often accompanied by increased trading volume. Confirmation and Entry: Patience is key as traders await confirmation of the breakout. Some may wait for a close above or below the trendline, while others may enter trades immediately upon breakout, anticipating further momentum. Risk Management: Implementing effective risk management strategies is crucial. This involves setting stop-loss orders to mitigate potential losses if the breakout fails or reverses. Monitoring and Adjusting: Traders diligently monitor price action post-breakout, anticipating volatility and potential retests of breakout levels. They adjust stop-loss and take-profit levels based on evolving market conditions and price movements. Trade Management: Once in a trade, traders adhere to their predefined trading plans. They consider scaling out of positions as price reaches predetermined targets or if market conditions shift. Successful breakout trading in forex requires discipline, patience, and effective risk management. It's imperative to integrate technical analysis with other market factors like fundamentals and sentiment for well-informed decision-making.
EIGHTCAP:XAUUSDEducation
by CASHTICKER
33
Microsoft Might Have Done This BeforeMicrosoft has been rallying since October, and now a recurring pattern may be present again. This chart highlights bullish breakouts by the software giant in October and January. First you have tight consolidation against support. MSFT first held the October 13 closing price of $327.73, followed by the December 4 closing price of $369.14. In both cases falling trend lines appeared along the closing highs. Notice how MSFT rallied after breaking those short-term resistance patterns. Next, the lower study includes our 2 MA Ratio custom script. It plots the ratio of the 8-day exponential moving average (EMA) versus the 21-day EMA. Consider how the ratios turned positive before each advance. Fast forward to March 2024 and similarities are potentially visible. MSFT has mostly remained above the February 20 close of $402.79 and prices are back above a falling trendline. The ratio of the 8-day and 21-day EMAs is also turning up. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:MSFT
by TradeStation
4
bullish scenario of the second wave of the sideways correction pDear analysts and traders, I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules. As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it. I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision. I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily. I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him. Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me. I hope my analysis will be useful to you in your business journey, and I wish you all the best. Sincerely, Mr. Nobody
NASDAQ:AAPLLong
by Mehdi_Abbasi_EWP
20
ETH HAS BEEN SERVED BY THE SEC! GOOD BYE ETHEREUM!ETH HAS BEEN SERVED BY THE SEC! GOOD BYE ETHEREUM! Hello everyone. Just as I thought something big was going to happen well here it is. SEC is going after Ethereum. A lawsuit by the SEC has possibly already been filed. If you need a better explanation please watch the video by Bitcoin University on youtube that just came out, he explains it fully and why he believes they have already been served already has 20k views. This would be a perfect catalyst to make ETH drop to way low prices over the next many years during the lawsuit. Look what happened to XRP and multiply that x10. Oh boy this is going to be epic. Once ETH loses and is deemed a security because it simply is theres no way around it. ETH is going to TANK mark my words people. I called this years ago. I knew this would happen but I was called crazy. We'll see who the crazy one is at the end of this. Do you realize how much money the SEC is about to make. This is why Bitcoin, Litecoin and a couple others are going to go to such crazy numbers no one would ever imagine. The whole shltcoin market is about to drain into the real decentralized crypto commodities. THE ONLY NON SECURITIES IN ALL OF CRYPTO RIGHT NOW IS BITCOIN, LITECOIN, DOGE, AND BITCOIN CASH. There may be others like Feathercoin, or Namecoin from the early days but they are dead chains. Isn't it funny how Charlie Lee stepped down from Litecoin just at the right time right before securities regulations? I Hmm and Digibyte founder Jared Tate just did the same thing, hmmm? All these decentralized mined cryptocurrencies from the early days that all these people called dinosaurs could actually rise up again and become the top 5? No way right? Wrong its happening but most of you were too blind to see it. Maybe youll see it now or maybe you learn lessons the hard way and you lose all your money. Once this thing starts to fall its going to be a waterfall youll never get out of your staking in time. If ETH is a security then SOLANA is BNB all of them, its all over for all these shlt coin scams like DogWifShlt and all the other trash all these fools are buying. Coinmarketcap will be half of one page you'll see. The rest will be archived for future reference and so people can have a good laugh at what people actually invested in! Dont be a fool and hold to zero, I would get to the exits and into something safe ASAP or you may gut stuck in the burning building cause the exits are jammed. Im not biased I just know whats coming and I dont want to see you all lose money, I hate it when people lose money. Not financial advice just my opinion!
BITSTAMP:ETHUSDShort
by Bitgolder
237
The Marathon Continues: $MARASince our initial investment in Marathon Digital Holdings NASDAQ:MARA in early October 2023 at $7.31, the landscape has dramatically transformed, propelling Mara to a striking $33.77. However, the journey hasn't been devoid of challenges, notably the three-month sideways movement troubling the stock and a pervasive sense of FUD (Fear, Uncertainty, Doubt) among later entrants lacking substantial unrealized gains. This period has ignited queries regarding Marathon's performance divergence from Bitcoin, especially when contrasted with entities like Microstrategy NASDAQ:MSTR , which leverages Bitcoin's movements more directly. The Short Squeeze Anticipation Amidst a Bull Market A critical aspect influencing Mara's trajectory is the significant short interest, temporarily curtailing its ascent. However, the notion that short sellers could thrive unscathed in a bull market is quickly dispelled when considering the potential for a short squeeze. Market makers are poised on the edge of their seats, anticipating the revelry as Bitcoin aims for the $80-100k mark, setting the stage for a triumphant rally. The Path to Parabolic Growth Expectations are set high with a projected parabolic surge leading to an intermediate target of $84, following a minor correction. The ultimate aspiration harks back to the inaugural high of $234 in 2012, a benchmark set at the dawn of Marathon's journey. While this target appears ambitious from the current vantage point, the culmination of a parabolic trend's force could make it a tangible reality. As always, this ideal scenario warrants meticulous analysis at each juncture, with adjustments made as necessary. Technological Innovations Paving the Way An unforeseen variable in many analysts' projections is the technological advancements driving Marathon forward. The recent announcement of the MARA 2PIC700 cooling system for Bitcoin mining rigs marks a significant milestone, underscoring Marathon's commitment to innovation in both software and hardware domains. This development not only enhances the operational efficiency of Bitcoin mining activities but also positions Marathon as a frontrunner in adopting and advancing technology within the crypto-mining industry. Here is a YouTube video of the new cooling system: www.youtube.com In summary, Marathon Digital Holdings presents a compelling narrative of growth, innovation, and resilience. With a keen eye on Bitcoin's trajectory, technological advancements, and the broader market dynamics, Marathon is poised for significant movements. Investors and observers alike should stay attuned for updates, as the journey of Marathon Digital Holdings unfolds in fascinating and potentially lucrative ways. Engage with these insights by liking the post, sharing it, subscribing to our given resources, and participating in the ChartScope community! Remember, everything here is custom-made for maximum engagement and, as always, should not be taken as financial advice. Be a part of the future–track and decode volatile market dynamics with us
NASDAQ:MARALong
by ChartScope
33
A Comprehensive Guide to Fibonacci Retracements (Updated)Hello traders, in this post, we will be going over one of the most commonly used tools in all asset classes - the "Fibonacci Retracement" (or Fib for short). For a better viewing experience, please view this on your desktop/PC, as the mobile and tablet versions of the charts are harder to read. Although I have briefly touched on how to use the Fibonacci Retracement tool in my previous Elliott Waves series, we are now going to go over it in depth, and talk about how this tool can help you find entries and exits within an existing trend with or without the use of the Elliott Wave Theory, which also helps identify whether you are in a bullish or bearish trend. The Fibonacci Retracement tool, although widely used by many traders, is almost always not correctly used by new traders. Most traders will often connect the wrong points, indicating the wrong Fibonacci retracement levels. Here, I will be explaining the proper way to use the Fibonacci Retracement tool in a very simple translated friendly guide in one post. ------- What Is the Fibonacci Retracement? Fibonacci Retracements (Fib(s) for short), are a set of 'ratios', defined by mathematically important Fibonacci sequence. This allows traders to identify key levels of support and resistances for price action. Unlike other indicators, Fibonacci retracements are FIXED, making them very easy to interpret. When combined with additional indicators, Fibs can be used to identify potential entry and exit points with high probability to trade on trending movements. Fibonacci retracements are used to indicate levels of support and resistance for a stock’s price. Although they are similar to moving averages in this respect, Fibonacci retracements are set by the extent of the previous bullish or bearish run and do not change each day in the current trend as moving averages do. Therefore, it can be significantly easier to identify and anticipate support and resistance levels from Fibonacci sequences. How Is the Fibonacci Retracement Calculated? (You don't need to calculate it yourself - It's already done for you!) Fibonacci retracements are based on what is known as the 'Fibonacci sequence', where each number in the sequence can be added to the previous number to produce the following number within the sequence. Now, you might be confused here, but don't! - I am just explaining the concept on how it's calculated. You do not need to personally calculate the actual sequence of the Fibonacci Retracement, as everything is already pre-determined and calculated within the tool itself on TradingView. To put it simply, dividing any number in the sequence by the following number yields 1.6180 – known as the "Golden Ratio" – while dividing any number by its predecessor yields 0.6180. Dividing any number in the sequence by two positions in advance yields 0.382, while dividing any number by a number three positions in advance yields 0.236. These ratios originated from the Fibonacci sequence are found throughout nature, mathematics, and architecture - such as flowers, buildings, and so forth. Yes, if you search for Fibonacci sequence examples, you can find these within daily uses, not only in trading. ------ Retracement levels for an asset are drawn based on the prior bearish or bullish movement. Don't forget this - you need to know whether you are in a bullish or bearish trend. Is the stock or coin going up? or down? To plot the retracements, draw a trendline from the low to the high (also known as the swing low to the swing high), or vice versa, high to low, within a continuous price movement trend – Fibonacci retracement levels should be placed at 61.80%, 38.20%, and 23.60% of the height of the line for you by the tool itself. Again, these numbers are already calculated for you within the tool itself. In a bullish trend, the retracement lines start from the top of the movement (i.e. the 23.60% line is closest to the top of the movement), whereas in a bearish movement the retracements are calculated from the bottom of the movement (i.e. the 23.60% line is closest to the bottom of the movement). ------ How to Trade Using the Fibonacci Retracement Once you have drawn a set of Fibonacci retracements on a chart of your liking, it is possible to anticipate potential reversal points where support or resistance will be encountered. If the retracements are based on a bullish trend, the retracements should indicate potential support levels where a downtrend will reverse bullishly. So to put it simply, the pre-determined Fibonacci levels, should in theory and practicality, act as support if in a bullish trend, and resistance in a bearish trend. There will always be some form of price reaction at each Fibonacci level just based on Market Psychology. If the retracements are based on a bearish movement, the retracements should indicate potential resistance levels where a rebound will be reversed bearishly, which is vice-versa for the bullish movement trend. The most common reversals based on Fibonacci retracement levels occur at the 38.20%, 50%, and 61.80% levels (50% comes not from the Fibonacci sequence, but from the theory that on average, stocks retrace half of their prior movements - so this is considered a 'psychological level'). Although retracements do occur at the 23.60% line, these are less frequent and require close attention since they occur relatively quickly after the start of a reversal. In general, retracement lines can be considered stronger support and resistance levels when they coincide with the overall trend, meaning, that if you know that you are in an established bullish or bearish trend, you will most certainly get some form of reaction at the most common reversal levels within the Fibonacci level, which is shown in the image below. Whenever applying Fibonacci retracements, keep in mind that retracement lines represent only potential support and resistance levels, they are NOT 100% set in stone – they represent price levels at which to be alert, rather than hard buy and sell signals; however, they have HIGH PROBABILITY. It is important to use additional indicators, in particular MACD, to identify when support or resistance is actually being encountered and a reversal is likely. The more that additional indicators are pointing towards a reversal, the more likely one is to occur. Also note that failed reversals, especially at the 38.20% and 50% retracement levels, are common.
COINBASE:BTCUSDEducation
by XForceGlobal
37
Reddit Braves Wall Street with 48% Pop in Debut. When Growth?Traders upvoted Reddit’s IPO but can the buzzing social media platform earn its stripes as a public company now? Table of Contents: ⦿ Reddit Surges in Public Market Kickoff ⦿ If Wall Street Bought, Should You? ⦿ Reddit Stacked Up Against Rivals ⦿ Ad Posts Looking Like User Posts? ⦿ Bottom Line 📍 Reddit Surges in Public Market Kickoff Reddit (ticker: RDDT ) stepped into the public-market space this week with a flashy and splashy IPO (initial public offering) in New York that chalked up a 48% gain on its debut day. The listing was met with lots of cheer from Wall Street as it was the biggest one for a social media company since Pinterest hit exchanges in 2019. Shares of Reddit surged to $47 out of the gate to make its first deals at a 38% premium to the company’s IPO price of $34 a share. Valuation soared to $9.5 billion by the end of the session when shares closed at just over $50 a pop. Reddit’s listing day with the Snoo—the website’s official mascot. Source: Reddit. By the looks of it, investors upvoted Reddit—a chat-room powerhouse and a stalwart of community-based culture venues sprawling from cat-praising r/CatsInSinks and owl-loving r/Superbowl to the intimidating trading hub r/wallstreetbets that bankrupted GameStop short-seller Melvin Capital. 📍 If Wall Street Bought, Should You? So the question is, if Wall Street scooped up Reddit shares… should you? Let’s take a behind-the-curtain look at Reddit’s business model. It’s been three years of trying for Reddit to get listed on the New York Stock Exchange. Finally, it issued 22 million shares for flotation, of which 8%—or 1.8 million—were reserved for friends, family and volunteer moderators. Those are unpaid users who make sure all the online communities are running smoothly. And they are also the content creators, because—unlike Netflix (ticker: NFLX ) or Spotify (ticker: SPOT )—Reddit doesn’t pay for its content. The platform boasts roughly 73 million daily active users spread across 100,000 online chat rooms, or “subreddits.” Despite the wide reach and 19 years of existence, the platform has never seen what a profitable year looks like. Its revenue comes predominantly from selling ads to companies who paid $804 million last year while the bottom line arrived at a $91 million loss. The revenue figure was a 20% increase from the $668 million picked up in 2022. 📍 Reddit Stacked Up Against Rivals And while revenue growth can be seen along the years, investors are betting that Reddit will ultimately catch up to the big shots in the social-media space. When Meta (ticker: META ), formerly Facebook, kicked off its public endeavors in 2012, it soaked up a market value of $104 billion and raised $ $16 billion for its IPO. Elon Musk’s X Corp, formerly Twitter, landed its first public deals at a $14 billion valuation, having raised $1.8 billion. In comparison, Reddit raised $748 million at an IPO valuation of $6.4 billion. Reddit carries the lowest valuation at IPO among social media peers. 📍 Ad Posts Looking Like User Posts? Against that backdrop, Reddit is taking a sketchy approach to bolstering its ad sales. Apparently, the folks at the upper echelons of the company decided it’s a good idea to make ad posts look exactly like user posts . The so-called “free form ads”, the company said, will mimic the popular user post type “megathread” and will “encourage users to deep dive into the topic at hand.” The community, on the other hand, didn’t show much love to that new advertising strategy. “Enable comments on ads, you cowards,” said one Reddit user while related threads were loaded with users’ comments of disapproval. 📍 Bottom Line And there you have it, 19 years of posts, 100,000 subreddits, and 73 million users who churn out all the content and self-sustain operations. Reddit gave us the meme stock craze back in 2021. Is it going to give us a rerun of the stock frenzy with its own shares this time? Or will the folks at r/wallstreetbets flip the script and short it? 💬 Let us know your thoughts in the comment section below! Don't want to miss any of our articles and be notified when a new one is released? Give us a follow!
NYSE:RDDT
by TradingView
9