Peet_Serfontein

A price action above 141 supports a bullish trend direction. Increase long exposure for a break above 150. This level is also the 61.8% Fibonacci retracement level. The target price is set at 163 (its 78.6% Fibonacci retracement level). The stop-loss level is set at 129 (just below its 38.2% retracement level). It will appear that a falling wedge pattern is busy developing. Such a pattern is bullish in nature.

A price action above 128.00 supports a bullish trend direction. Increase long exposure for a break above 139.00 (its 50% Fibonacci retracement level). The target price is set at 152.00 (just above its 61.8% retracement, which is also close to its 200-day simple moving average). The stop-loss is set at 117.00 (is 23.6% Fibonacci retracement level). Remains a risky trade.

ZEDUSD: remains above key support A price action above 29.00 supports a bullish trend direction. Increase long exposure for a break above 31.50. The target price is set at 33.50. The stop-loss price is set at 27.50. Remains above its 200-day simple moving average. Remaining above this key support will confirm a bullish long-term trend. Re-test of the 200-day also seems likely.

Bitcoin $: back to support? 1. Trend Level - 26800: The chart showcases a significant trend level at the 26800 mark. This price point seems to be pivotal. 2. Moving Averages: Two noteworthy moving averages have been marked – the 200-day and the 200-week. The recent price action shows Bitcoin testing these moving averages, indicating they are acting as dynamic resistance levels. 3. Fibonacci Retracement Levels: Bitcoin appears to be trading around the 78.6% Fibonacci retracement level. This level can act as a strong resistance, and the price's behaviour around it is crucial for determining future momentum. 4. Downside Momentum: The momentum indicators at the bottom of the chart suggest a bearish momentum. The histogram bars are in the negative territory and show a potential downside bias, indicating that bears might have the upper hand in the short term. 5. Target and Stop Levels: A bearish target is set at 25300, pointing to a potential decline of -5.5%. Conversely, a stop level is placed at 28000, marking a risk of +4.3%. This presents a win/loss ratio of 1.5:1, suggesting that the potential reward is 1.5 times the risk. 6. Potential Return to Support: A note on the chart queries if the price might be heading "Back to support?" Given the current technical setup, it seems plausible that Bitcoin could retest previous support levels, especially with the prevailing bearish momentum.

Palladium $: another leg down? A price action below 1220 supports a bearish trend direction. Further bearish confirmation for a break below 1200. The target price is set at 1110. The stop-loss price is set at 1310. The start of downside price momentum (see the lower panel) remains a concern for further downside.

IOTA/USD: some upside potential? Higher highs and higher lows remains of interest. A price action above 0.1905 supports a bullish trend direction. Further bullish confirmation for a break above 0.2030. One can increase exposure here. The target price is set at 0.2165, or the 78.6% Fibonacci retracement level. The stop-loss is set at 0.1800. Remains below its 200-day and is regarded as a risky trade.

ZECUSD: some correction? A price action below 29.35 supports a bearish trend direction. Further bearish confirmation for a break below 28.85. The target price is set at 25.45. The stop-loss price is set at 33.10. Fading upside price momentum (see the lower panel) supports the bearish trend.

BTCUSD (Bitcoin $): buy on a pull-back A price action above 27000 supports a bullish trend direction. The ideal entry price is on a pull-back as close to 28200. Increase long exposure for a break above 30000 (psychological level). The target price is set at 31500. The stop-loss price is set at 27800. Broke up through major resistance.

Litecoin: a correction back to its 200-day? A price action below 92 supports a bearish trend direction. Increase short exposure for a confirmed break below 90. The target price is set at 80 (just below its 200-day simple moving average). The stop-loss is set at 100 (its 200-week simple moving average). Negate the idea for a break above 94 (recent tops). Remains a risky trade.

A bullish trend is applicable above 1830.Increase long exposure for a break above 1840.First target price is set at 1850.Second target price is set at 1880.Stop-loss set at 1820. Negate the bullish bias for a break below this level.Remains a risky trade.Update from my previous analysis around early March 2023.