A breakout above the upper trendline of the symmetrical triangle and sustained movement above the 200-day EMA (3,087.90 USDT) would be strong bullish signals. This could target the next resistance levels around 3,403.77 USDT and 3,416.10 USDT.
If the price fails to break above the 200-day EMA and the upper trendline, and instead breaks below the lower trendline of the triangle, it could indicate a bearish move, with potential support around 2,600 USDT.
๐ For Bullish Investors : Consider entering a long position if there is a confirmed breakout above the upper trendline of the triangle and the 200-day EMA. Set stop-loss orders just below the lower trendline to manage risk.
๐ For Bearish Investors : Monitor for a breakdown below the lower trendline for potential short opportunities. A break below 2,992.65 USDT support could target lower support levels around 2,600 USDT.
Overall, while there are bullish signals forming, caution is advised due to the mixed signals from the Supertrend and EMA. Watching for a decisive breakout from the symmetrical triangle will provide a clearer direction.
If the price breaks above the 200 EMA at $5.329 and clears the immediate resistance levels, we could see a move towards the $6.00 and $7.00 levels. Sustained buying pressure and positive market sentiment could push the price towards the upper Fibonacci levels.
If the price fails to break above the 200 EMA and descends below the support at $4.428, it could test lower support levels around $3.50 and $3.00. Continued bearish sentiment and negative news could drive the price lower.
๐๐ผ๐ป๐ฐ๐น๐๐๐ถ๐ผ๐ป ๐
While the #NEAR USDT chart shows mixed signals, the bullish divergence and recent "Buy" signal provide a positive outlook. A confi$rmed breakout above the 200 EMA and the descending trendline would solidify the bullish case, targeting higher resistance levels.
The #BTC/USDT chart reflects a strong bearish trend. The price has been consistently making lower highs and lower lows, confined within a descending channel. The failure to hold above the 0.618 Fibonacci retracement level indicates potential further downside.
If #BTC fails to hold the 0.618 Fibonacci retracement level, we could see a decline towards the 50,000 USDT psychological support and further down to the 0.786 Fibonacci retracement level around 48,000 USDT. The 200-day EMA at 58,211.08 USDT will act as a strong resistance, and unless the price breaks above this level, the bearish sentiment is likely to persist.
For a bullish reversal, #BTC needs to break above the 200-day EMA and the upper boundary of the descending channel around 65,000 USDT. Sustained movement above these levels could shift the trend back to bullish, targeting higher Fibonacci levels and previous highs.
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๐จ Analysts at Bloomberg predict that if a spot bitcoin ETF is not approved in this period, thereโs still a 90% chance for approval by Jan. 10. ๐ $BTC
๐ฎ ๐ฌ๐ถ๐ฒ๐น๐ฑ ๐๐๐ถ๐น๐ฑ ๐๐ฎ๐บ๐ฒ๐ is gearing up to host the YGG Web3 Games Summit from November 18 to 25 in the ๐Philippines. Get ready for captivating discussions, a massive gaming expo, and thrilling esports tournaments. ๐
๐ Keep a close watch on $YGG as it holds promising potential for an uptrend in the coming days ! ๐
After having an outstanding NEARCon event in 2022, #NEAR Protocol is gearing up for this year's conference in ๐Lisbon, Portugal, happening from November 7th to November 10th. ๐
In my view, the future looks bright for #NEAR as we might see a bullish trend in the upcoming week. ๐
๐ฐ Stay optimistic in the world of cryptocurrencies! Exciting innovations are set to reshape the landscape in 2024, promising a rejuvenating wave of opportunities. Discover the future of crypto with us. ๐ $BTC
Tokenized real-world assets are transforming the brick-and-mortar elements of valueโthink property, art, or intellectual propertyโinto digital bytes stored on a blockchain. The buzzwords?ย