wealthsmith23

Gold (XAUUSD) is currently in a short-term downtrend and is likely to continue dropping towards $3200 and $3137 support levels, as long as price stays below the $3325-$3365 resistance zone. Traders may look for sell opportunities on lower timeframe pullbacks or rejections near broken support.

Bitcoin (BTC/USD) is showing signs of a strong bullish reversal off a major demand zone at $98,000.** If price holds above this level and confirms with continued bullish candles, the likely trajectory is toward the resistance zone around $110,000–$111,200. The forecast structure suggests a clean trend recovery pattern. However, manage risk tightly — as a breakdown below the demand zone could flip the narrative to bearish.

The $3,390 support level remains a key battleground for bulls and bears. A strong hold here opens the path for a high-momentum breakout, potentially propelling XAU/USD to test the $3,720–$3,760 region. This setup offers a clear structure, supported by both price action and historical behavior, making it a high-probability bullish opportunity — provided the zone remains intact.

Currently, BTC/USD is approaching a key supply zone between $107,800 – $108,600, where price previously faced strong rejection. My expectation is that price will react similarly upon retest. 🧠 Trade Idea: I'm anticipating a fakeout or liquidity grab above the zone, followed by a lower high formation. Once this confirmation occurs, I’ll be looking for a short entry, targeting the major demand zone below, around $100,800 – $101,600. ✅ Confluences: Previous price rejection from this same resistance zone. Clean bearish imbalance below that still needs filling. Lower timeframes showing signs of exhaustion as we approach resistance. 🕵️‍♂️ Entry Trigger: I’ll wait for bearish price action within or just above the yellow resistance zone (e.g. bearish engulfing, lower high, or break of structure). 📉 Target: TP Zone: $101,000 area SL: Just above the fakeout zone to manage risk effectively.DONE

Fibonacci Retracement Levels The chart uses Fibonacci retracement from a low of around $60,290 to a high of $107,187 to find potential support and resistance levels. Key levels: 0.236 (23.6%) at $96,119 (resistance) 0.382 (38.2%) at $89,272 0.5 (50%) at $83,738 (current price zone) 0.618 (61.8%) at $78,205 (strong support) 0.786 (78.6%) at $70,326 Current Price Action BTC is currently trading around $83,361. It has retraced to the 50% Fibonacci level, which is often seen as a critical zone for trend continuation. Trend Projection A downward trendline was broken, suggesting a possible trend reversal. A bullish move (red arrow) is projected, targeting the green resistance box around $116,000 - $120,000. The price needs to break above $89,272 and $96,119 to confirm this upward move. Key Takeaway If BTC holds above the 50% retracement level and continues upward, it could be aiming for a new high. If it fails, it may retest the $78,205 or $70,326 support levels before another attempt at breaking out.we still bullish

Resistance Zone : The price has reached this zone but was rejected, indicating that sellers are stronger here. This resistance acts as a ceiling where the price struggles to break through. Support Zone (Highlighted in Red at the Bottom): This area represents a potential target where buyers are likely to step in and support the price. It's positioned around the 2650 level, which aligns with a strong demand zone. Price Action Analysis: After testing the resistance zone, the price is now forming a lower high, suggesting bearish momentum. The red arrow projects a potential move down from the resistance zone toward the support zone. Trend Confirmation: The chart indicates a short-term downtrend starting from the resistance zone. Trading Implications If Shorting: Entering a sell position near the resistance zone (if the price rejects it again) aligns with the downtrend. Take profit could be set around the 2650 support zone. If Waiting for Confirmation: A breakdown of interim support levels or bearish candlestick patterns could signal further downside. Alternatively, a reversal pattern near the 2650 zone could offer a long opportunity.

Current Price Movement: The price of BTC recently hit a high of $64,848 and is now slightly retracing, shown by the small downward movement of 0.06%. The market is in a resistance area, as highlighted by the upper yellow zone, which has been touched multiple times without a clear breakout. Key Levels: Resistance: The yellow band near $64,800-$65,000 is acting as strong resistance. Price has tested this area but failed to break through it with significant momentum. Support: There’s a key support zone around $63,000, as marked by the lower yellow band. This zone has acted as a floor during past retracements and could serve as a potential target for a drop. Projection: The red arrow indicates that there might be a potential pullback from the current resistance level down towards the $63,000 support zone. This is a possible correction after BTC struggled to break higher. This would suggest a bearish short-term outlook, expecting a dip before a potential bounce back. Next Steps for Traders: If BTC fails to break above $65,000, it’s likely that traders could see a move towards $63,000. In such cases, traders may look for confirmations like candlestick patterns or volume spikes for further validation of the move. However, if BTC breaks above $65,000, it could invalidate this downward projection, leading to a potential rally to the next resistance level.

1. Current Price Movement: The price is currently at 63,595, showing a solid upward movement with a gain of +1.24% in the last period. 2. Support and Resistance Zones: - Support Zone: The chart shows a significant support level around 62,200 where the price found previous support and bounced upwards. This level acted as a strong barrier, preventing further downward movement. - Resistance Zone: There is a clear resistance level around 66,000, marked by the yellow highlighted box at the top. This is an area where the price was previously rejected multiple times, indicating strong selling pressure. 3. Potential Breakout: The green arrow indicates an expected move upwards towards the resistance zone at 66,000. This projection suggests that if the price can hold above the current support, it could push toward this upper limit. 4. Trend Analysis: The overall short-term trend appears to be bullish, as the price is making higher lows after bouncing off the support level. Additionally, the recent recovery from the dip around October 3rd shows a strengthening upward momentum. 5. Key Levels to Watch: - If the price continues to hold above the 63,000 range, it could gain further traction to test the 66,000 resistance. - However, if the price falls back below 63,000, we could see a retest of the lower support levels around 62,200 or even further down.

1. Current Price: Bitcoin is trading at **$61,729**, up by 1.52%. 2. Support Zone: The lower orange highlighted area, around the **$60,000 to $61,000** range, indicates a **support level** where Bitcoin recently found buyers and bounced back. This is likely a strong zone of demand. 3. Resistance Zones: - The middle orange zone, around **$63,000**, shows the first potential **resistance area**. - The upper orange zone, around **$66,000**, marks a second resistance level, where Bitcoin previously struggled to maintain upward momentum. 4. Price Action Projection: - There’s a yellow line showing a potential bullish move. It suggests that the price could bounce from the current support zone and attempt to break through the middle resistance area around **$63,000**. - After this, the projection anticipates a move toward the **$66,000** resistance level.

1. Channel Analysis: Gold has been moving within an ascending channel for some time. However, it recently broke below this channel, which indicates a potential shift in the bullish trend. This break could signal a possible correction or retracement as the price starts moving downward. 2. Key Resistance and Support Zones: The price has been rejected from a resistance zone near the $2,650 level, as indicated by the orange box at the top of the chart. This resistance coincides with previous highs and has led to the current downward movement. Below, there is a support zone at around $2,603, which is marked by the lower orange box. This level is key because it's where we might see buyers stepping in if the price continues to drop. 3. Price Prediction: Based on the break of the ascending channel and the rejection from resistance, the expectation is that Gold will continue moving downwards. The green arrow suggests the price might retest the $2,603 support level before possibly finding a bounce or continuing further downward, depending on how strong the selling pressure is. In summary, the chart shows that Gold is likely entering a corrective phase after breaking out of an ascending channel and being rejected at resistance. The target for the potential retracement is the $2,603 support zone, where we could see a reaction from buyers.