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MKRUSD Golden Cross sending it to the ResistanceMaker is having a Golden Cross (1D) event. The first since August 24th 2021. The pattern is a Channel Up. Trading Plan: 1. Buy on the current market price and as long as the MA50 (1D) is supporting. Targets: 1. 1140 (beneath Resistance 1). 2. 1650 (beneath Resistance 2) as long as we get a pull back to MA100 (1D). Tips: 1. The RSI is holding over the 50.00 neutral level. Short term buy entries can be taken there. Long term though (as for example for Target 2) on the 30.00 oversold level. Please like, follow and comment!!
CRYPTO:MKRUSDLong
by TradingBrokersView
4
BTCUSD Recommedations The currency pair is gradually grinding higher. At this moment, the $45 - $46 support level is serving at a strong swing point for a bullish channel formation. Likewise, the trendline break is resonating with the symbolic appearance of a descending triangle. In a few hours /days, buyers should be filling the BTCUSD blank cheque with lots of buying orders. For a day trader, opting for a 1:2 RRR (the risk-reward ratio) would really help in bagging some $$ from the market uptick. Such a decision implies that a trade risk of $40, $400, $4000 can yield a reward of $80, $800, and $8000 respectively. N.B: A correction is likely around $51000 value area ( rationale: support turn resistance) Sentiment: Bullish Decision : Opt for a buy order now or limit order at @ 48000. TP 1 : $51K TP 2 : 55,500 USD
COINBASE:BTCUSD
by Famosky
DOT the Perfect Token for Support and Resistance LoversPolkadot (DOT) has been increasing tremendously; the coin is currently up by 500% in less than three months. What is even better is that DOT’s pattern is actually predictable and one of the easiest for support and resistance traders. Polkadot Pattern The token has so far proved to follow Darvas’ box theory better than most other assets (including stocks). This means that the price moves within ranges defined by boxes with an upper limit (resistance) and a lower limit (support). In this case, Polkadot has been continually moving higher, and so the upper limits, once breached, became the new lower limits and a suitable entry point. Indicators Due to the fast pace at which the price has been advancing, trend-following indicators on the bigger timeframes have not performed very well. If you would like to use trend-following indicators, the 30 minutes timeframe or even lower may be more suitable for DOT. If you would like to stick to the bigger timeframes, then Williams %R (displayed above) has been working well. Williams %R is an oscillator that identifies oversold and overbought zones. Williams %R is one of the fastest oscillators, meaning that it identifies overbought and oversold zones the quickest. If you look at the chart, it has identified oversold zones in some of the best places corresponding with the lower limits (support areas).
KRAKEN:DOTUSDLong
by cryptohopper
3