BTC & Gold Hunting

This was one of my add-ons—a really tough level. They had to attack eight times and spend many hours trying to wipe out my account. They managed to breach my level but didn't wipe out the account, and they’ve likely shown us that level 4021 might be the impenetrable one before reaching past the 4,200 mark. There are still, of course, possibilities of getting close to that level.

Now I get it. You probably aren't even a person; you must be a robot serving the cause. And what you meant to say is that if you're a winning trader, the industry shuts its doors on you. Well, in that case, we’d have to review all the industry contracts and regulations—using "quantum grammar," if you catch my drift—and more than a few people could end up in jail.

Gold(XAUUSD) Outlook for the upcoming week

In current week Gold went through a roller coaster ride where after the breakout form a major bearish trendline at 4030, it retested the level 4166 and again returned back the 4022, structurally gold seems to be moving within a ascending channel, currently taking support of lower boundary, bounce is expected following to which price might retest the significant resistance zone.

However breaking of the channel below the level of 4022 can lead for deeper corrections as trend on the higher timeframe remain bearish.

If you look at the overall structure it might seem like gold forming a double bottom (a bullish reversal pattern), whose neckline is at 4200 on higher timeframes.

support & resistance levels are:

S1: 4022
S2: 3960
S3: 3900

R1: 4082
R2: 4166
R3: 4200

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.

Bitcoin(BTC) Outlook for the upcoming week

Structurally BTC is moving in an ascending channel making HH & HL, after facing rejection form bearish trendline price has declined and Currently consolidating at a strong support zone of ~63600, if this zone holds then price might again returned back to its channel and continue it's up-move, since the trend on higher timeframes are still bearish, if the level of 63640 is taken out, we can see deep correction & price could retest the level of 61750.

we should be waiting for clean breakouts before entering into any directional trades.

Immediate Support and Resistance are:
R1: 64400
R2: 65760
R3: 67000

S1: 63640
S2: 62600
S3: 61750

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.

It's completely fine, glad you liked it mate

Gold(XAUUSD) outlook and plan for the day

Gold Gapped up after weekends and has continued it's up-move, up-holding the bullish trendline strongly, expected to continue. 4110 is an important resistance level and 0.618 fib retracement level of the previous downswing, it might prevent gold form going further up. immediate support is at 2080.

If 4110 is taken out then we might see a breakout and following to which price may retest its 4170 level. where as if price breaks below 4080 then a big decline could be expected.

Outlook remain in bullish to sideways direction, I would prefer taking breakout long trades after confirmation .

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.

Bitcoin Outlook and plan for the day.

After the bounce back from the support zone of ~63640 price has retested the resistance zone and facing rejection from the exact 0.618 fib retracement level of previous swing which is at the confluence of rising trendline rejection zone.

Some consolidation at current level would be convincing for the moves that will follow after the breakout, current momentum is on bullish direction. if it successfully gets rejected from the resistance. Then it might retest the neckline of 63640, or if it breaks above the 65760 then can continue till 66930,

Breakout of the consolidation would be decisive, if it gives moves without significant consolidation, it's safe to avoid.

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.