BTC/USD, ETH/USD, XAG/USD, NATGAS, Technical Outlook, Edition #159 (09/12/2021)
Read tonight's free technical analysis featuring Bitcoin, Ethereum, Natural Gas & Silver 👇
Level up with daily chart analysis delivered straight to your email. Subscribe to our daily newsletter now for more due diligence 👇
Bulls continue to fight - Do they have what it takes?
Buyers scorned by fickle demand as Bitcoin struggles to close above .382 Fibonacci retracement resistance.
Q notes a further failure in price action reclaiming uptrend support - which has now flipped into resistance.
Bitcoin, BTC/USD - Daily (D1)
Should the 0.5 Fibonacci retracement level fail to hold, further selling action down to the USD 42K – 44K support zone is likely.
Regardless of one's market posture, it is very important to consider the risks of an adverse trend reversal.
Price action in the range of USD 49k-50k is considered neutral.
Conversely, if the BTC/USD pair can manage a run-up to USD 53K and flip trend resistance back into support, then a 'Festive Season Rally' may still be on the cards.
Ether, ETH/USD - Daily (D1)
On the other hand, ETH/USD appears to steam headlong into horizontal resistance and risks being dragged down with Bitcoin - if the market increases selling pressure.
Should BTC/USD lose USD 49K support, ETH/USD may respond by seeking a subsequent support retest (GREEN).
🎄🎅 ‘Tis the season of giving! 🎅🎄
Share the love this festive season and give a gift subscription to a mate who needs Q 👇
A brief note that following from the successful executions in Tuesday's video edition, the premium subscriber educational content is now unlocked for all readers:
Returning to the current technical analysis, Qluster analysts underscore:
This deciding battleground is where bulls must HODL the line.
Meanwhile, some commodities are beginning to display signs of a bullish bounce – although it is too early to perceive from price action due to unchanged market structure, with no fresh higher lows.
Silver, XAG/USD - 4 Hour (H4)
Both Silver (XAG) and Natural Gas (NATGAS) seem to paint V-bottoms.
Q’s Explorer Guide: V-Bottom
V-Bottom is a price chart pattern, which signals a potential bullish reversal and can be a precursor of high volatility.
Price action is best described as market irrationality or emotional selling that triggers a sudden decline in prices. The sharp downside movement is followed by a complete retracement as sentiment and volatility stabilise.
Want to do more due diligence before subscribing? Try us with a 7-day free trial to access Premium Research 🚀
Natural Gas, NATGAS - 4 Hour (H4)
See you again for the next update.
Which markets do you like to research?
👇 Let us know and leave a comment now 👇
Follow us for more detailed analysis on all markets, including Decentralised technology. Check out the links below
Join our Facebook group and connect with likeminded traders:
Like our Facebook page for future updates:
Follow us on LinkedIn for future updates:
Keep up with us on Twitter:
The information on this website is for general information purposes only. It is not intended as legal, financial and/or investment advice and should not be construed and/or relied on as such. Before making any commitment of a legal and/or financial nature you should seek advice from a qualified and registered legal practitioner and/or financial and/or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal and/or financial product. Qluster does not recommend and/or endorse products and does not receive remuneration based upon investment and/or other decisions