Structure/Trend: This market saw a fast rise in price on the 28th of August to 0.026482, from there on the trend went further bullish and then bearish on the 30th of August which would later form a Support line within the price 0.026012. There was a bullish move in price on the 1st of Sept, breaking a higher Support line from the previous but leading to a Resistance level that would later be retested at least 5 time up until date. Just before the 6th of September the initial Support was tested and retracted price forming a kind of rising wedge move. From this point on Support and Resistance levels were constantly tested. A Triangle Patter formed from the 13th till the 17th.
Hypothesis: Bothe the RSI and BB interpret the same thing in that the price seems to be stable at this moment, there is no particular uptrend or downtrend. On the parts of the EMAs both the EMA 200 and 50 are currently under the bars which means there could be a rise in price pretty much soon, also the EMAs just crossed path which could lead to a bullish cross over.
Confirmation/Tell: If the RSI line were to touch the lower band, that would be a good time for a buy in this market, also if the price bars were to touch the lower band, it would be a good time to enter the market with a buy. This period being one where price is constant according to both RSI and BBs, would not be advisable to buy coins.
Targets: The Entry Point in this market being 0.029939, the Stop Loss is placed just below the 2nd Support Line at price 0.027688. The Target Price is placed at 0.034811 above the highest Resistance, being a very optimistic price. The R/R ratio is placed at 2.53
Hypothesis: Bothe the RSI and BB interpret the same thing in that the price seems to be stable at this moment, there is no particular uptrend or downtrend. On the parts of the EMAs both the EMA 200 and 50 are currently under the bars which means there could be a rise in price pretty much soon, also the EMAs just crossed path which could lead to a bullish cross over.
Confirmation/Tell: If the RSI line were to touch the lower band, that would be a good time for a buy in this market, also if the price bars were to touch the lower band, it would be a good time to enter the market with a buy. This period being one where price is constant according to both RSI and BBs, would not be advisable to buy coins.
Targets: The Entry Point in this market being 0.029939, the Stop Loss is placed just below the 2nd Support Line at price 0.027688. The Target Price is placed at 0.034811 above the highest Resistance, being a very optimistic price. The R/R ratio is placed at 2.53
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.