LegionQ8

Hello traders, I want share with you my opinion about Bitcoin. The prolonged corrective phase for Bitcoin appears to be concluding, as the price action signals a significant shift in momentum. After a complex journey through various corrective patterns, the price established a strong support base in the 108800 buyer zone and has now executed a decisive breakout from the final descending resistance line. Currently, following this breakout, the price of BTC is in a strong upward impulse, confirming the new bullish momentum and moving decisively away from the prior consolidation zone. The primary working hypothesis is a long scenario that anticipates a brief corrective movement before the next major leg higher. The expectation is that the price will soon make a small dip to retest the recently broken resistance line, confirming it as new dynamic support. A successful and confirmed bounce from this retest would validate the strength of the breakout and signal that buyers remain in firm control, likely triggering the continuation of the rebound to the upside. Therefore, the TP for this breakout and continuation play is logically placed at the 115800 level, which aligns with the major horizontal resistance level and seller zone. Please share this idea with your friends and click Boost 🚀

Hello traders, I want share with you my opinion about Gold. The prolonged period of consolidation for Gold has decisively resolved to the upside, following a powerful breakout from a multi-week symmetrical wedge. This event signalled a clear shift in market control to buyers, invalidating the prior ranging environment and initiating a new, impulsive bullish phase. The price action for XAU since the breakout has been characterised by a strong, high-momentum rally that has pushed the asset to new highs. Currently, this upward movement appears to be overextended, suggesting that the market may be due for a healthy corrective pull-back. The primary working hypothesis is a short, counter-trend scenario designed to capture this anticipated correction. The expectation is that the current rally will soon find a peak, exhaust itself, and undergo a sharp decline back towards the breakout point. This corrective fall would be a natural part of a healthy uptrend, allowing the market to test the old resistance as new support. Therefore, the TP is logically placed at the 3420 level. This target is highly significant as it corresponds precisely with the current support level and the support area where the breakout originated. Please share this idea with your friends and click Boost 🚀Great! Gold turned around and now I think it will continue to fall to the support level.Gold continue to move up, so I close this trade.

Hello traders, I want share with you my opinion about Bitcoin. The dominant market structure for Bitcoin remains bearish, with the price action being clearly contained within a well-defined downward channel since the major rejection from the 116800 Resistance Level. This structure has been guiding the asset lower through a series of impulsive declines and corrective rebounds, confirming that sellers are in control of the trend. The most significant recent development was the breakdown below the key horizontal support around the 109000 level. Currently, after this breakdown, the price of BTC is in a corrective phase, rallying back to retest this broken structure from below, which now acts as the current resistance level. This 109000 - 109800 resistance zone is a critical inflection point. The primary working hypothesis is a short scenario, predicated on the failure of this retest. A confirmed rejection from this former support area would validate the continuation of the bearish momentum and signal that the next impulsive downward fall is imminent. Therefore, the TP for this trend continuation play is logically placed at 104000 points. This target represents a new lower low within the channel and is the next major area of structural interest for the price. Please share this idea with your friends and click Boost 🚀Price declined a little and then made a correction to the resistance area, after which it continued to fall. So, I expect that BTC will enter this area again and then continue to decline inside the downward channel.I think correction phase ended, and now BTC started recovering.

Hello traders, I want share with you my opinion about Bitcoin. The macro bearish bias for Bitcoin was established after the price was strongly rejected from the 121000 Resistance Level, leading to a breakdown from its prior upward channel. This initiated a new bearish phase, first within a downward channel, but the selling pressure for BTC has since intensified, causing a breakdown below that channel's support as well. Currently, the asset is in an accelerated downward fall, guided by a steep local trend line, and is directly testing the critical buyer zone at the 109700 support level. The primary working hypothesis is a short scenario, now predicated on the failure of this major horizontal support. While a brief consolidation or a minor retest of the nearby trend line may occur, the overwhelming bearish momentum suggests a high probability of a breakdown. A decisive break and hold below the 109700 support level would confirm the continuation of the downtrend and open the path for further declines. Therefore, the TP for this breakdown scenario is logically placed at 104000 points, representing the next major area of potential support. Please share this idea with your friends and click Boost 🚀Good! Price broke the support level and continues to decline.I'm still waiting for BTC to reach my TP.

Hello traders, I want share with you my opinion about Gold. The market dynamic for XAUUSD has seen a significant evolution, transitioning from a corrective falling wedge into a new bullish phase after a powerful breakout from the lows. This upward trend has since matured and taken the shape of a large upward wedge, a pattern that has been guiding the price higher through a series of rebounds and corrections. This formation, while bullish in the short term, often signals potential trend exhaustion as it approaches its apex. Currently, the price action for XAU is at a critical juncture, pushing up against the upper resistance line of this wedge. The primary working hypothesis is a short scenario, which is predicated on the common bearish resolution of a rising wedge pattern. It is anticipated that the asset will be rejected from this resistance line, signalling that buying momentum is waning. A confirmed failure at this peak would likely trigger a sharp reversal, with enough selling pressure to cause a breakdown below the wedge's ascending support line and the current support level of 3390. This structural failure would validate the bearish thesis and initiate a new downward leg. Therefore, the TP is logically set at 3370 points, representing a prudent first objective for the price to achieve following the anticipated breakdown of the wedge structure. Please share this idea with your friends and click Boost 🚀Gold rose higher than resistance line of wedge, exiting from this pattern and then turned around. So, I expect that price will continue to decline next.Gold made an upward impulse to $3455 points. So, the target wasn't reached for this case, so I closed this trade.

Hello traders, I want share with you my opinion about Bitcoin. A distinct shift in market control from buyers to sellers has defined the recent price action for Bitcoin. After the prior upward wedge failed at the major 119500 resistance level, a significant breakdown occurred, initiating the current bearish phase, which has been neatly contained within a downward channel. The price action within this structure has been orderly, consisting of downward impulses followed by corrective rebounds. The most critical recent development was the downward fall that broke below the key horizontal support level at 112000. Currently, the asset is in the midst of an upward rebound, rallying back to test this broken structure from below. The primary working hypothesis is a brief scenario, anticipating that this rally will fail upon entering the 112900 - 112000 resistance zone. A confirmed rejection from this former support area would validate the bearish trend continuation and signal that the next impulsive move down is imminent. Therefore, the TP for this scenario is logically set at 107000 points. Please share this idea with your friends and click Boost 🚀Good! Price reached resistance line of channel, now I expect that BTC will continue to fall.Good one! Bitcoin continues to decline inside downward channel.

Hello traders, I want share with you my opinion about Gold. The market for Gold is currently defined by a large symmetrical triangle, a pattern of equilibrium that has formed after a strong rebound from the 3290 buyer zone halted the previous downward trend. This new market structure indicates a period of contracting volatility, with the price action for XAU being methodically squeezed between a descending resistance line and an ascending support line. These boundaries are anchored by the major seller zone around the 3400 resistance level and the aforementioned 3290 buyer zone. At present, the asset is at a critical inflection point, having rallied to test the descending resistance line of this triangle. The primary working hypothesis is a short scenario, based on the expectation that the 3400 seller zone will hold and that sellers will re-emerge to defend this territory. A confirmed rejection from this upper boundary would validate the integrity of the symmetrical triangle and likely initiate another major downward rotation within the pattern. This fall would target the ascending support line and the underlying horizontal support. Therefore, the TP for this rotational play is logically placed at 3310 points. Please share this idea with your friends and click Boost 🚀

Hello traders, I want share with you my opinion about Bitcoin. Following a decisive breakout from a prior downward wedge, Bitcoin entered a phase of balance and consolidation that is currently forming a symmetrical triangle. This new market environment signifies contracting volatility, with the price being methodically squeezed between a descending resistance line and an ascending support line. The asset has reached a critical juncture, as it is now at the apex of this formation, where the ascending support line converges with a strong horizontal support level at 114400. The primary working hypothesis is a long scenario, based on the expectation of a 'fake breakdown' or 'liquidity hunt'. It is anticipated that the price may briefly dip below the support line and into the buyer zone to trigger stops before staging a strong reversal. A swift reclaim of the 114400 level would be the ultimate confirmation of this bullish thesis, validating the original uptrend. This reversal is then expected to trigger a significant upward rebound. Therefore, the TP is logically placed at the 118000 level, as this represents a key area of prior price interaction and serves as a prudent first objective for a rally of this nature. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.Bitcoin exited from triangle and soon broke support level, after which continued to fall.

Hello traders, I want share with you my opinion about Bitcoin. The broader market context for Bitcoin has been one of prolonged and volatile consolidation, with price action largely contained between two dominant control zones: a major seller zone capping rallies near 120000 and a foundational buyer zone providing strong support around 112000. After the most recent rejection from the upper boundary, the asset has undergone a significant downward correction, which has taken the shape of a smaller descending triangle. Currently, the price has reached a critical inflection point, as it is testing the apex of this triangle directly at the major horizontal support level of 112000. The primary working hypothesis is a long scenario, which anticipates that the strong historical demand within the buyer zone will absorb the recent selling pressure and initiate a powerful rebound. This rebound is expected to be strong enough to cause a breakout from the descending triangle, signaling a shift in short-term momentum. The scenario further anticipates a brief retest of the broken triangle's resistance line from above to confirm it as new support. Following a successful retest, the path would be clear for a continued rally. Therefore, the tp for this move is logically placed at the 117000 level. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.

Hello traders, I want share with you my opinion about Gold. The price action for Gold has been dictated by a large downward channel since the last major peak was established at the 3380 resistance level. This bearish structure has effectively contained the market, guiding it through a series of impulsive declines and corrective rebounds between its well-defined support and resistance lines. After the most recent upward rebound originated from the lower boundary of the channel, the price has been in a corrective rally, now approaching a formidable confluence of resistance. This critical area is formed by the intersection of the channel's descending resistance line and the major horizontal seller zone around 3380. The primary working hypothesis is a short scenario, which is based on the expectation that this powerful resistance will hold and cause the current corrective rally to fail. A confirmed rejection from this zone would validate the integrity of the downward channel and signal that the dominant bearish trend is set to resume. This would likely trigger the next major impulsive fall, which is expected to break through the immediate support level at 3330. Therefore, the TP for this continuation scenario is logically placed at the 3290 level, a target that represents a new lower low within the channel's structure and a prudent objective for the anticipated move. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.Good! Price continues to decline inside downward channel.