Trump Surging in Swing States: Momentum Grows

New swing state polls show Donald Trump leading in several key battlegrounds, including Arizona, Nevada, and Michigan. His steady rise in voter support is making headlines as we approach the next phase of the election season. Could this signal a major political comeback? Stay tuned as the race continues to unfold.

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BREAKING: Donald Trump Gains Momentum on Polymarket, Leading Kamala Harris by 16.5% With Only Hours Left to Place Bets Before Polls Close.
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$BTC has been trading over its support zone between 69,530 – 69,300 for the last 30 hours. This level has proven to be a strong demand zone where buyers continue to step in, preventing further downside. On the upside, BTC has encountered consistent resistance between 71,445 – 72,000, which led to a previous rejection.

Key Levels:

Support Zone: 69,530 – 69,300
Resistance Zone: 71,445 – 72,000
Previous Bounce High: 71,660

BTC Trade Setup:

Click Here To Open Position 👇

Current Price: 69480
Entry: Long position if BTC holds above 69,530, with confirmation from bullish price action.

Stop-Loss: Place a stop-loss below 68,700 to protect against downside risks.
Targets:

1. Target 1 (T1): 70,500
Quick profit target near minor resistance.

2. Target 2 (T2): 71,445
The key resistance zone. Watch for signs of weakness here.
3. Target 3 (T3): 71,660
The previous local high, offering a solid mid-term profit opportunity.
4. Target 4 (T4): 72,000
A breakout above this critical resistance could trigger a rally toward 72,500 – 73,000.
Risk/Reward Considerations:

Risk Management: Conservative traders should place stops below 68,700 to limit losses. A breakdown below this zone could lead to a retest of lower levels.

Volume Confirmation: Look for rising volume as BTC approaches resistance. Strong volume on a breakout signals bullish strength.

NOTE: I am not a financial advisor so invest at your own risk

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Understanding the Engulfing Candlestick Pattern

The Engulfing pattern is a two-candle formation that signals a potential reversal in the market. There are two types: the Bullish Engulfing and the Bearish Engulfing.

Bullish Engulfing Pattern

The Bullish Engulfing pattern occurs in a downtrend and consists of two candles:

The first candle is bearish (red/black), representing a continuation of the downward movement.

The second candle is bullish (green/white) and completely engulfs the body of the previous candle. This indicates that buyers have overwhelmed the sellers, suggesting a possible reversal to the upside.

How to Identify a Bullish Engulfing Pattern:

1. Look for a bearish candle in a downtrend.

2. The second candle must open lower but close higher, completely engulfing the body of the first candle.

3. The larger the second candle, the stronger the reversal signal.

Bearish Engulfing Pattern

In contrast, the Bearish Engulfing pattern appears in an uptrend, indicating a potential shift to the downside:

The first candle is bullish, continuing the uptrend.

The second candle is bearish and engulfs the body of the previous bullish candle, signaling that sellers have taken control.

How to Identify a Bearish Engulfing Pattern:

1. Spot an uptrend with a bullish candle.

2. The second candle should open higher but close lower, completely engulfing the prior bullish candle’s body.

3. A larger bearish candle strengthens the indication of a reversal.

Why the Engulfing Pattern Matters?

This pattern is valuable because it demonstrates a clear shift in market sentiment. In a Bullish Engulfing pattern, the sudden dominance of buyers signals that a downtrend may be losing steam. For Bearish Engulfing, it reflects that sellers have taken over, suggesting a potential price decline.

Using the Engulfing Pattern in Trading

Traders often use the Engulfing pattern in combination with other technical indicators, such as moving averages or support and resistance levels, to confirm reversals. It is best to avoid relying on the Engulfing pattern alone, as false signals can occur.

Conclusion

The Engulfing candlestick pattern is a reliable tool for identifying potential market reversals. Whether it's Bullish or Bearish, recognizing this pattern can help traders enter or exit positions at key turning points in the market, increasing the chances of success.

This pattern, combined with proper risk management, can enhance your trading strategy and lead to better decision-making in both bullish and bearish markets.