BCH (Y20.P1.E11).Macro.Summary
Updated
Hi All,
Rumors\News:
> Looking at the news media, it seems many people are baffled\perplexed as they have no answer to the recent ALT markets performance;
> Some think its the whales playing games;
> My thoughts, be careful as I did that in the last year bull trend and I got caught with some coins that stopped performing and in actual fact started to go down.
So if your going to do it, its better to not go greedy, have a target and get out;
Thoughts and observations:
** On the daily chart **
> Candlesticks > Main candle closed at the main resistance with a relative big wick and a Evening star\Bearish Harami. BEARISH sentiment. It would be interesting to see how the next few days candles close.
> RSI curving > We had a slight BEARISH Divergence. Also hitting over 80% at its peak.
> MA\EMA > I have the Daily 377 SMA acting as resistance, just like BTC and the 200 MA as support
> and we broke out of the downward channel which the top can be tested as well. Since I'm bullish, I think the next test will be the daily 200 MA, likely, if the price drops further.
> MACD looking strong bullish with a possible tint of curve downwards coming.
> 4 HRLY chart, support broken
> DAILY Chart trend
Top trend line established as per chart and possibly the 377 MA could be the upper line trend for some time. Why? the bottom tend line might be tested first.
Assuming the bottom is in, we have the bottom trend line which helps define the potential price range for the coming weeks\months.
> Summary
Price to drop to major support for the next rally. The 1st target has confluence with the 200 daily MA and potentially the second is a per chart, green bar.
DAILY Charts
4 HRLY chart
Support broken
Rumors\News:
> Looking at the news media, it seems many people are baffled\perplexed as they have no answer to the recent ALT markets performance;
> Some think its the whales playing games;
> My thoughts, be careful as I did that in the last year bull trend and I got caught with some coins that stopped performing and in actual fact started to go down.
So if your going to do it, its better to not go greedy, have a target and get out;
Thoughts and observations:
** On the daily chart **
> Candlesticks > Main candle closed at the main resistance with a relative big wick and a Evening star\Bearish Harami. BEARISH sentiment. It would be interesting to see how the next few days candles close.
> RSI curving > We had a slight BEARISH Divergence. Also hitting over 80% at its peak.
> MA\EMA > I have the Daily 377 SMA acting as resistance, just like BTC and the 200 MA as support
> and we broke out of the downward channel which the top can be tested as well. Since I'm bullish, I think the next test will be the daily 200 MA, likely, if the price drops further.
> MACD looking strong bullish with a possible tint of curve downwards coming.
> 4 HRLY chart, support broken
> DAILY Chart trend
Top trend line established as per chart and possibly the 377 MA could be the upper line trend for some time. Why? the bottom tend line might be tested first.
Assuming the bottom is in, we have the bottom trend line which helps define the potential price range for the coming weeks\months.
> Summary
Price to drop to major support for the next rally. The 1st target has confluence with the 200 daily MA and potentially the second is a per chart, green bar.
DAILY Charts
4 HRLY chart
Support broken
Note
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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