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Wulfofwallst

BITCOIN BEARISH SETUPBitcoin (BTC/USDT) – Breakdown from Double Top Confirms Bearish Trend Continuation The 4-hour chart of BTC/USDT (Binance Perpetual Contracts) presents a textbook double top formation followed by a confirmed breakdown below structural support levels. The bearish trend has already met its first target, and technicals suggest the move could extend lower toward the key demand zone around $96,000. 🔍 Key Technical Highlights: Double Top Pattern: Clear double top structure formed between $109,000–$110,000, followed by a strong rejection. Support Break: Price broke down below key support at ~$105,000, triggering a sell-off and validating the bearish reversal. Bearish Retest: After the breakdown, price retested the broken trendline (highlighted with a red zone) and failed to reclaim the range. First Target Hit: Price achieved the first projected support zone at around $101,000. Next Target: Based on measured move projection and previous structure, the next downside target lies near the $96,000 mark. 📉 Outlook: The structure remains bearish as long as BTC trades below the broken support-turned-resistance zone (~$105,000). Momentum favors continued downside toward the next key zone unless a significant bullish reversal signal emerges.
Short
by traderchamp_
CSE ASI BEARISH SETUPThe monthly chart of the CSE All Share Price Index (ASI) reveals a technically significant scenario: the index is currently testing the upper boundary of a long-term ascending channel while also aligning with the 1.618 Fibonacci extension, both of which signal potential reversal pressure ahead. Key Observations: Long-Term Resistance: The price is testing the channel’s upper resistance line near the 17,000 – 17,700 zone, where rejection often occurs historically. Fibonacci Confluence: The current high coincides with the 1.618 Fibonacci extension, a critical level where long rallies often stall or reverse. Bearish Candlestick Pattern: The formation of a potential bearish reversal candle near the resistance zone is an early signal of seller interest. Expected Retracement Levels: Initial support lies at the 0.382 and 0.5 Fibonacci retracement zones, around 15,000 – 14,000. Deeper correction could target the 0.618 level (~13,000), which aligns with previous breakout structure and the channel midline. Conclusion: The ASI appears overextended after a strong bullish leg and is currently showing signs of exhaustion at the top of a multi-year channel. Unless price breaks above and sustains above 17,700, a correction toward the 13,000–14,000 zone is likely, supported by Fibonacci retracement levels and the channel structure. This presents a potential medium-term bearish outlook for investors and swing traders, with caution advised around current highs.
CSELK:ASIShort
by traderchamp_
AUDNZD BULLISH SETUPThe 4-hour chart of AUD/NZD shows a strong bullish breakout from a prolonged consolidation phase, followed by a healthy retest of the breakout level, suggesting the pair is gearing up for further upside. Key Observations: Consolidation Breakout: After spending several weeks in a tight consolidation range between 1.0760–1.0800, the price has convincingly broken above the range resistance near 1.0810. Key Level Retest: The breakout zone (previous resistance) is now acting as new support, confirmed by multiple rejections (highlighted area). Bullish Momentum: Structure is forming higher highs and higher lows, indicating continuation of upward trend. Upside Target: With the breakout holding, the next logical target lies near the resistance zone around 1.0910, which served as a previous swing high. Conclusion: AUD/NZD is showing bullish strength after breaking out of consolidation and holding above the retested key level. As long as 1.0800–1.0810 support holds, the pair remains poised for a bullish continuation toward the 1.0900–1.0920 resistance zone. A break below this level would invalidate the setup and bring price back into the previous range.
Long
by traderchamp_
AUDCHF BEARISH SETUPThe AUD/CHF 4-hour chart is presenting a classic Head & Shoulders pattern within a well-defined bearish descending channel, signaling a likely continuation to the downside if neckline support fails. Key Observations: Bearish Channel in Play: The broader trend remains bearish, with price action respecting both channel boundaries. Head & Shoulders Formation: A visible Head & Shoulders pattern has formed near the top of the channel, with the neckline around 0.5275. Neckline Break Risk: Price is currently testing the neckline area (highlighted in red). A confirmed break below would likely trigger bearish momentum. Downside Target: A break below the neckline could push AUD/CHF toward the support zone near 0.5220, in line with the lower boundary of the channel. Trend Structure: Lower highs and lower lows continue to dominate, reinforcing the bearish bias. Conclusion: AUD/CHF remains technically weak, and the emerging Head & Shoulders breakdown may act as a strong continuation signal within the existing downtrend channel. A clear close below 0.5270 could open the door for a further drop toward 0.5220. Caution is warranted for bulls unless a significant reversal signal emerges.
Short
by traderchamp_
AUDCAD BEARISH SETUPThe 4-hour chart for AUD/CAD shows a well-respected bearish descending channel, where price action remains capped below a strong dynamic resistance. Price recently rejected a key resistance zone near 0.8900, signaling a potential continuation to the downside. Key Observations: Bearish Channel Intact: Price continues to respect the upper and lower bounds of the descending channel. Key Resistance Rejection: The pair tested the 0.8900 resistance area and faced immediate rejection (highlighted in red), forming a lower high. Break of Trendline: A rising trendline from the recent low has been broken, reinforcing bearish pressure. Support Zone in Sight: If bearish momentum continues, the next major support lies around 0.8780 – 0.8800, offering a possible target area. Short-term Setup: Minor upward retracement may retest the broken trendline, but unless 0.8900 is breached, the bias remains strongly bearish. Conclusion: AUD/CAD remains under bearish control within the descending channel. The recent rejection from the upper boundary and break of the rising trendline suggest a high-probability move toward the 0.8800 support zone. Traders should look for confirmation of lower highs or bearish engulfing patterns to position short.
Short
by traderchamp_
4
EURUSD BEARISH SETUP The EUR/USD 4-hour chart reflects a significant technical setup, showing price action within a bullish ascending channel that has recently broken to the downside, forming a falling wedge pattern—typically a bullish continuation signal. Key Observations: Bullish Channel Broken: The price broke below the ascending channel earlier this month, signaling initial weakness. Falling Wedge Formation: A bullish falling wedge has developed, and the pair is now testing its upper boundary near 1.1522, attempting a breakout. Resistance Zone: The price is approaching a key resistance area between 1.1550 – 1.1600, which aligns with previous highs and the wedge's upper edge. Scenario Projection: A temporary bullish breakout toward the resistance zone is expected. If the pair gets rejected from this resistance, a sharp decline toward the major support area near 1.1300 is likely. Bearish Confirmation: A clear rejection at the resistance zone followed by a break below the recent minor support (red zone) would confirm the bearish move. Conclusion: While short-term bullish momentum may push EUR/USD slightly higher, the confluence of resistance levels suggests a high probability of rejection. Traders should watch for reversal signals in the 1.1550–1.1600 zone, as failure to break higher could lead to a bearish move toward 1.1300 in the coming days.
Short
by traderchamp_