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Forex Analysis & Reviews: BTCUSD Potential For Bullish Continuation | 15th August 2022
time 15.08.2022 12:23 PM
time Relevance up to, 16.08.2022 12:23 PM

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On the H4, with price moving within a bullish channel as well as above the ichimoku indicator and RSI moving along an ascending trendline, we have a bullish bias that price will rise to our 1st resistance at 24703.69 where the swing high resistance, 50% fibonacci retracement and 61.8% fibonacci projection are. Once there is upside confirmation that price has broken 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 26779.85 where the 61.8% fibonacci retracement, -61.8% fibonacci expansion, 161.8% fibonacci extension and 100% fibonacci projection are. Alternatively, price could drop to 1st support at 22560.82 where the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection are.

Trading Recommendation

Entry: 24703.69

Reason for Entry:Swing high resistance, 50% fibonacci retracement and 61.8% fibonacci projection

Take Profit: 26779.85

Reason for Take Profit: 61.8% fibonacci retracement, -61.8% fibonacci expansion, 161.8% fibonacci extension and 100% fibonacci projection

Stop Loss: 22560.82

Reason for Stop Loss:

Pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection

Dean Leo,
Analytical expert of InstaForex
© 2007-2022
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EURUSD Potential for Bullish Continuation | 1st December 2022
Looking at the H4 chart, my overall bias for EURUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price has also broken above the ascending trend line. If this bullish momentum continues, expect the price to possibly.
Author: Dean Leo
06:30 2022-12-01 UTC--5
7123
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06:28 2022-12-01 UTC--5
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On the H4 chart, the overall bias for ETHUSD is bearish. However, the price is now above the Ichimoku cloud which might indicate a shift to a bullish market. Expecting price to possibly break the 1st resistance at 1308.21, where the 38.2% Fibonacci line is before heading towards the 2nd resistance.
Author: Dean Leo
06:26 2022-12-01 UTC--5
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