LTC/BTC S/R Flip | Key Technical Level Broken| Trend Change ?Hello Traders!
Last Day of the decade! Bring on 2020!
Today’s chart update will be on LTCBTC which has broken a key technical level and has consolidated- S/R Flip.
A confirmed trend change will come to fruition when structural resistance is broken,
Points to consider,
- S/R flip
- Strong structural support
- Strong Resistance to break
- RSI respecting support
- Stochastics trading in upper regions
- EMA’s close to support
- Below average volume
LTCBTC has broken a key level convincingly; it needs to consolidate as it confirms the S/R flip. Strong structural support indicates high buy pressure, wicks evidently signals accumulation in the local lows.
Structural resistance needs to break next; this will confirm a trend change as market structure will put in a new higher high after consolidation.
The RSI is respecting its support, in neutral territory but is coming close to its apex, a break will be imminent. The stochastics is currently trading in the upper region, can stay there for an extended period of time, however lots of stored momentum to the down side.
EMAs close to supporting price, it must hold price when testing structural resistance for a bullish bias. Volume is well below average, this signals an influx of volume is likely when testing key levels.
Overall, in my opinion, LTCBTC has broken a key technical level confirming the S/R flip. Higher lows need to continue to break key structural resistance, which will confirm the trend change, putting in a new higher high on the pull back.
What are your thoughts?
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And Remember
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Happy New Year’s
Exponential Moving Average (EMA)
ETHBTC New Higher Low? | Volume Follow Through Needed!Hello Traders!
Welcome to another update,
Today’s chart update will be on ETHBTC which has put in a potential new higher low, possibly changing the overall bearish trend.
Points to consider,
- Probable trend change coming to fruition
- Local support respected
- Local resistance yet to break
- Stochastics in lower regions
- RSI hitting resistance
- EMA’s to cross bullish
- Volume below average
ETHBTC is attempting to change the trend by putting in a probable new higher lower which will be confirmed after initial consolidation. Local support was held and respected; buyers are strong in this area, a key level not to be broken.
Local resistance is the next key level, a break and consolidation above this level will confirm the trend change on the daily.
The stochastics is currently in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. EMA’s are giving price resistance at current given time, a bull cross will increase the probabilities of breaking local resistance.
Volume is well below average, a key indicator to watch, bulls need momentum with follow through otherwise a break to lower lows is probable.
Overall, in my opinion, ETHBTC needs to consolidate at current level; a potential bull flag is likely before another leg up. It is important to keep an eye on volume which will dictate the overall direction of ETHBTC.
What are your thoughts?
Please leave a like and comment,
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
BTC Key Level| Oversold Bounce?Hello Traders,
Quick Update
Today’s chart we be on BTCUSDwhich is testing a critical support level
Points to consider,
- Trend bearish
- Major support being tested
- Stochastics in lower regions
- RSI approaching oversold
- EMA’s giving price resistance
- Volume needs to increase
BTC has put in consecutive lower highs with no clear sign in trend change on the shorter time frame. Major support is being tested that must hold for a bullish bias, a break will continue with the bearish momentum.
Stochastics is currently in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. RSI is hitting oversold conditions; a return back to neutral territory is probable, an oversold bounce.
EMA’s are currently giving price resistance, this will push BTC down if support does not hold true. Volume is well below average, an increase in volume in either direction will determine the trend direction.
Overall, in my opinion, BTC is in a critical point where a break in either direction will determine the overall trend. A bullish break will confirm a higher low and a bear break will increase the probabilities of further lower lows.
What are your thoughts?
Please leave a like and comment
And remember
“Hope is bogus emotion that only costs you money.” – Jim Cramer
OH Bullish Divergence|Local Resistance|EMA Cross| Higher LowHello Traders – Merry Christmas!
Today’s chart update will be on CANNAROYALTY CORP OH where a valid bullish divergence has come to fruition.
Will OH have enough momentum to break local resistance and put in a new higher low?
Points to consider,
- Trend bearish
- Local resistance at 4.950
- Local support provided by EMA’s
- Stochastics in upper regions
- RSI diverged, Respecting trend line
- Volume above average
OH is currently in control by the bears, consecutive lower highs have been in place, a clear trend change will require a daily higher low.
Resistance is found at $4.950, a key level for the bulls to break as this will put in a new higher low, negating the bearish trend structure. Support comes from the EMA’s as they cross bullish at resistance. This needs to maintain for a bull break of the key local resistance level.
The stochastics in currently in the upper region, it can stay here for an extended period of time, however lots of stored momentum to the downside. RSI has diverged from price, needs to maintain its trend line for a bullish bias.
Volume is above average, OH needs continued bull volume follow through if it is to break local resistance.
Overall, in my opinion, OH needs to break local resistance convincingly with follow through. This will change the overall market structure, putting in a new higher low. An entry will be valid on the bullish S/R flip re-test of the local resistance.
What are your thoughts?
Please leave a like and comment,
And remember,
A streak of winning trades can boost your ego and self-confidence to such an extent that you start believing that you’re invincible. If that is the case, try to take a break from trading to calm your emotions down.
BTCUSD Break of Support or Resistance?| Key $7800 level!Hello Traders!
Welcome to another update today, this time on BTCUSD daily timeframe
On the daily chart we have very clear levels that need to be watched in terms of support and or resistance.
Bitcoins next move will equate to either break of support or a break of local resistance - $7800, a very key level.
Points to consider,
- Trend bearish
- Local resistance at $7800
- Support at .618 Fibonacci
- Stochastics in upper regions
- RSI Diverging from price
- Volume below average
- EMA’s crossing
BTCUSD trend is currently in control by the bears as we have consecutive lower highs on the chart.
Local resistance is found at the $7,800 mark, a key level for the bulls to break in order to negate the overall market structure. Local support in confluence with the .618 Fibonacci level, must hold price. This needs to maintain in order to put in a new higher low in the trend.
The stochastics are currently in the upper region, can stay here for an extended period of time, however lots of stored momentum to the downside. The RSI has diverged from price, causing a bullish divergence. It must respect its now established trend line to hold a bullish bias.
Volume is below average, an influx of volume is required with convincing follow through in either direction to avoid false break.
Overall, in my opinion, BTCUSD is at a critical point where a break in either direction will dictate the fate of the trend. A bearish break of a key Fibonacci level will increase the probabilities of further lower lows. A bullish break of local resistance, $7800, will negate the bearish structure and put in a new probable higher low.
What are your thoughts?
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,
And remember,
“It’s OK to be wrong; it’s unforgivable to stay wrong.” -Martin Zweig
BNBBTC Long Term Trend Line| Key Support Hello Traders!
Today’s chart update will be on BNBBTC, testing a strong structural support which is in confluence with its long term trend line.
Will BNBBTC respect this technical level?
Points to consider,
- Trend Bearish
- Structural support being tested
- Structural resistance needs to break
- Stochastics in lower regions
- RSI oversold
- EMA’s giving price resistance
- Volume declining
BNB’s trend is currently controlled by the bears, putting in consecutive lower highs as it comes close to very key levels.
Structural support is being tested, which is in confluence with the longer term trend line that must hold for a bullish bias. Resistance is yet to break; bulls have a lot of work to do to reach it. A break of resistance will put in a new higher high in the trend, changing the overall structure.
Stochastics is currently in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. RSI is oversold; a bounce back to neutral territory is highly probable.
EMA’s are currently giving price resistance, will continue to push BNBBTC down until a bounce in price comes true from support levels. Volume is declining, indicating an influx of volume is due in either direction.
Overall, in my opinion, BNBBTC is probable to bounce from current levels due to confluences from technical indicators. An influx of bull volume is required to push BNB further up from these levels.
What are your thoughts?
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And remember
In trading, everything works sometimes and nothing works always.”
New Open CME Futures Gap| BTC Resistance .618 Fibonacci Level Hello traders!,
Today’s chart update will be on BTC CME Futures chart which has just put in a new gap that will most probably fill sooner rather than later.
Points to consider,
- Trend hitting resistance, .618 Fibonacci
- .382 Fibonacci is local support
- RSI in overbought territory
- Stochastics in upper region
- EMA’s yet to meet price
- Volume below average
Local resistance, the .618 Fibonacci; is a key level for BTC to break to maintain a bullish bias, this will help create higher highs in the overall trend. Support is found at the .382 Fibonacci level, below the futures gap, bulls have a lot of room to work with in order to establish a new higher low whilst filling the gap.
RSI is resting on overbought territory; a return back to support is highly probable, this will help cool of the indicator. Stochastics itself is also in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the downside.
EMA’s are yet to meet price, must hold BTC as support as the EMA’s have already crossed bullish. Volume is below average, an influx of bull volume is needed to keep BTC above support when and if it comes down to fill the open gap.
Overall, in my opinion, gaps tend to get filled sooner rather than later. BTC is highly probable to retrace back to at least $7255 level before another impulse move either up and or down.
What are your thoughts?
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And remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
ADA|USD Key Weekly Support| Double Bottom| Lower HighsHello Traders!
Today’s update will be on ADAUSD, testing a critical level as it comes close to its apex, a move is imminent.
Points to consider,
- Bearish Trend
- Major weekly support being tested
- Local resistance to break
- Stochastics in lower regions
- RSI respecting trend line
- Volume declining
- EMA’s giving price resistance
ADAUSD has been in an establish bear trend with consecutive lower highs; it is testing a critical weekly support area that must hold as the lower high structure converges.
If weekly support holds true, ADAUSD will confirm a double bottom, which is a major reversal pattern. Local resistance will be the first target to break as this will put in a new higher high in the trend, confirming a trend change.
The stochastics is currently in lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. RSI is respecting its trend line, must hold for a bullish bias, a break will likely also mean a break in weekly support, which will be very bearish.
Volume is declining rapidly, signalling that a move is imminent as price comes closer to its apex. EMA’s itself is currently giving price resistance, a bullish cross will help negate the bearish trend.
Overall, in my opinion, this weekly support is probable to hold, ADAUSD is likely to break bullish from its apex, and an entry would only be valid if ADAUSD breaks local resistance with a bullish retest.
What are your thoughts?
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And remember,
“If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
STRATBTC Keys Resistance Broken| New Higher High!Hello Traders!
Welcome to another chart update,
Today’s chart will be on Stratis which has broken a key structural resistance level, now potentially support upon a retest.
Will Stratis continue with this bullish bias?
Points to consider,
- Daily trend change
- Key structural resistance broken
- Stochastics trading in upper region
- RSI in upper region
- EMA’s cross bullish
- Increase in volume
- VPVR decreasing in transactions
STRATBTC has confirmed a daily trend change by breaking a key resistance level and putting a new higher high. A retest of the key structural resistance will confirm an S/R flip; this is likely as we do have a small bearish divergence coming to fruition.
The stochastics is currently in the upper region, can stay here for an extended period of time, however lots of stored momentum to the downside. RSI is travelling in overbought regions; a retest of its support is highly probable.
EMA’s have crossed bullish, a strong indicator for a trend change, must hold true for Stratis if it starts to test upper regions.
Volume has clearly increased, this is very healthy and must sustain for follow though in price. The VPVR itself is decreasing in transactions, this signals that resistance is low for when Stratis when testing upper levels in terms of volume of transactions.
Overall, in my opinion, STRATBTC is likely to retest the now structural support to confirm a bullish re-test before making moves higher.
What are your thoughts?
Please leave a like and comment,
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
GBPCAD 1D MA-X STRATEGY
Tim's MA=X trade mgmt
Standard Trade Management Rules
1) If, after entry, the candle closes back on the opposite side of the 20EMA, close for a loss
2) Full Size Position if Vol >= 100% vol avg
1/2-Size Position if Vol >= 75% vol avg
3) Stop-Loss = 1.5 X ATR
1st Target = 1 X ATR
4) 1/2 off at 1st Target for profit - move Stop-Loss to break-even on remainder
MATICBTC KISS| Lower Highs| Key Resistance To BreakHello Traders!
Today we will keep our TA KISS = Keep it Simple Stupid, as we have a look at MATIC after a huge dump. It has manage to keep its higher low projection in place as it comes closer to structural resistance
Points to consider,
- Strong higher lows
- Major structural resistance to break
- Stochastics in upper region
- RSI bounced from oversold
- Increase in bull volume
- EMA crossing bullish
MATIC has established a strong trend line by putting in consecutive higher lows; it needs to hold this structure to keep a bullish bias. Major structural resistance is yet to break, an important level to break as this will put in a new higher high.
Stochastics is currently in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the downside. The RSI has bounced strong from oversold conditions, currently in neutral area; a retest of support is probable.
Bull volume has increased slightly, needs to maintain as MATIC tests structural resistance otherwise a false breakout may come to fruition. The EMA’s are crossing bullish, it needs to hold price support as price tests and breaks structural resistance.
Overall, in my opinion, MATIC must break structural resistance with convincing bull volume. A break of this established trend will be extremely bearish, lower lows will be more probable in that case as the market structure will have then changed.
What are your thoughts?
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And remember,
“The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
BTCUSD Strong Pump but Trend still Bearish Hello Traders!
Today’s chart update will be on BTC after its pump, which has put in yet another lower high in the trend.
Will this S/R flip hold BTC and break key resistance line?
Points to consider,
- Bear trend still intact
- S/R flip coming to fruition
- Key resistance line to break
- Stochastics in upper regions
- RSI in upper region
- EMA’s turning bullish
- Volume follow through required
Bitcoins consecutive lower highs have established a key trend line that needs to break for a bullish bias. This current S/R flip needs to hold BTC, and consolidate, as this will increase the probability of a trend change. Staunched resistance line needs to break as this will negate the lower high structure – a new higher lower will come to fruition.
The stochastics is currently in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the down side. RSI is also in the upper region, a return back to support level is probable to cool it off.
EMA’s are crossing bullish; it needs to hold price support for a bullish bias. Volume itself is currently below average at current give time. BTC needs strong bull volume with follow through to break resistance and change overall structure.
Overall, in my opinion, BTC needs to break the staunched downwards sloping resistance line to negate the lower high structure. This needs volume follow thought to help avoid the chances of a false break. BTC is resting above support zone at current given time; this is a good sign for the bulls as it is confirming the S/R flip.
What are your thoughts?
Please leave a like and comment,
And remember
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
**Please follow me on twitter for daily updates on fundamental news in the MJ and Crypto Speace ! :) Twitter handle in profile link
LTCBTC Bearish Until Break of 200 EMA Hello traders!
Today’s chart update will be on LTCBTC which is in a daily down trend with clear resistance levels to break for a probable trend change, a key level to watch will be the 200 EMA.
Points to consider,
- Clear bears in control
- Structural support being tested
- Local resistance is the 200 EMA
- Stochastics in lower regions
- RSI respecting trend line
- Volume below average
The overall trend is controlled by the bears as LTC has been putting in consecutive lower highs on the macro time frame. Price is testing a key structural support which must hold, a break will test lower lows. Local resistance is found at the 200 EMA, a break will more probable lead LTC to testing structural resistance.
The stochastics is in lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. RSI itself is respecting its trend line, must hold true when price breaks key 200 EMA.
Volume is well below average and declining, an influx will confirm direction of trend as LTC rests on support.
Overall, in my opinion, LTC is more probable to test upper resistance levels once the 200 EMA is broken. This needs to be backed with volume follow through to avoid a potential false break.
What are your thoughts?
Please leave a like and comment
And remember,
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore
**Please follow me on twitter for daily updates on fundamental news in the MJ and Crypto Speace ! :) Twitter handle in profile link
BTCUSD - Bearish Pennant – Bear Break? Key Levels Hello traders!
Today’s chart update will be on BTCUSD where it has formed a bearish pennant which is a continuation pattern.
Will Bitcoin break bearish?
Points to consider,
- Clear bears in control
- Price testing support zone
- Local resistance provided by EMA’s
- Stochastics projected downwards
- RSI testing support
- Volume declining
Bitcoin is heading to its apex where a break is imminent; price is currently testing a key support zone that needs to hold. This support zone is in confluence with the support line of the bearish pennant. Local resistance is being provided by the EMA's giving the bears an edge as price tests support. Resistance looks strong as we are in an established bear trend.
The stochastics is trading in the upper region, can stay here for an extended period of time, however lots of stored momentum to the downside. The RSI is currently testing its support level; a break will send it closer to oversold conditions.
Volume is clearly declining as price comes closer to its apex; we need an influx of volume which will confirm a break.
Overall, in my opinion, a break will come to fruition shortly with an influx of volume. We are in a bearish trend with a bear pennant which serves as a continuation pattern. Bitcoin is more likely to test lower levels.
What are your thoughts?
Please leave a like and comment,
And Remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
**Please follow me on twitter for daily updates on fundamental news in the MJ and Crypto Speace ! :) Twitter handle in profile link
ACB Brutal Downtrend | Key Support Level Hello Traders!
Today’s chart update will be on ACB – Aurora Cannabis INC, which has been in full control by the bears, currently it is testing a key support level that must hold…
Points to consider,
- Strong downtrend
- Major structural support being tested
- Local resistance at $3.50 region
- Stochastics projected up
- RSI close to testing resistance
- EMA’s giving price resistance
- Visible increase in volume
The trend has been bearish with consecutive lower higher in place, there are no clear signs of this changing as of yet. ACB is currently testing a major support level that must hold as this is the last hope for the bulls from a technical aspect. Local resistance is found at $3.50 mark, this is the first level that bulls need to break when trend change is confirmed.
Stochastics is projected up with lots of stored momentum; however it can stay in lower regions for an extended period of time. The EMA’s have been giving ACB resistance in this downtrend, a cross bullish will help break resistance levels. There has been a visible increase in bull volume; ACB needs to sustain this with follow through to help change the overall trend.
In my opinion, ACB is still in a strong bear trend; price needs to mature at current support level to determine if a trend change is even probable. ACB needs to sustain bull volume to put in a new higher low market structure…
What are your thoughts?
Please leave a like and comment,
And remember,
“The market is a device for transferring money from the impatient to the patient.”- Warren Buffet
***Please follow me on twitter for daily updates on fundamental news in the MJ and Crypto Speace ! :) Twitter handle in profile link
BTCUSD Structural Resistance | No Man’s Land Hello Traders,
Today’s update will be on BTC where it needs to break a key resistance level to confirm a trend change on the shorter time frame…
Points to consider,
- Major structural resistance at the $7800 level
- Local resistance at .236 Fibonacci
- Structural support at .618 Fibonacci level
- Local support from trend line
- Stochastics projecting downwards momentum
- RSI respecting trend line
- EMA’s supporting price
- Volume below average
BTC is trading in a crucial area with heavy resistance lurking from above, the structural resistance, which is found at the $7800 region. BTC has had two bearish retests, which confirms the strength of the sellers. Local resistance is found at the .236 Fibonacci level, bulls need to break this level in the immediate future to keep the higher low outlook in place.
Structural support is at the .618 Fibonacci level, BTC held this area with strong buy volume coming in. Local support is found on the trend line, which needs to hold as we come closer into the major resistance level.
The stochastics in projecting downwards momentum as BTC approaches a possible retest of the trend line; it is probable that we may see a bounce on the stochastics. RSI is currently respecting its trend line, a break will be imminent as it comes closer to its apex.
EMA’s are supporting price, needs to hold in confluence with the support line to push BTC up and above the staunched resistance. Volume overall is way below average, we will see an influx in volume when the apex is reached; this tells us that a break in either direction is imminent.
Overall, in my opinion, we are currently in a NO TRADE ZONE, we need to break the staunched structural resistance level with convincing bull volume before we can go long.
What are your thoughts?
Please leave a like and comment
And Remember
“One day does not make a trend.” – Anonymous
***Please follow me on twitter for daily updates on fundamental news in the MJ and Crypto Speace ! :) Twitter handle in profile link
APHA Bullish Divergence | Double Bottom?Hello traders,
Apologies, been under the weather the past few days, but now I’m back!
Today’s chart update will be on APHA – APHRIA Inc – Canadian MJ. Which has been in a brutal down trend, but there are signs of a possible reversal…
Points to consider,
- Trend Bearish
- Support at $3.90 Region (double bottom)
- Price testing resistance
- Stochastics trading in upper region
- RSI diverging from price
- EMA’s giving price resistance
- Volume declining
The trend has been putting in consecutive lower highs as it approaching its possible apex zone. The green highlighted zone is the current support level with a possible double bottom, signalling that buyers are strong. Resistance is poised by the trend line, which needs to break to negate the higher low market structure.
Stochastics are currently trading in the upper region, can trade in this region for an extended period of time, however lots of stored momentum to the downside. The RSI is currently diverging from price as it puts in higher low whilst the price has put in lower lows,
The EMA’s are currently giving price resistance, needs to cross bullish to support price in testing upper resistance levels. Volume is visibly declining; an influx of volume will confirm the direction of the break.
Overall, in my opinion, a break is imminent as we have a probable bullish divergence and a double bottom coming to fruition. APHA needs an influx of volume with follow through; this will avoid a possible false break.
What are your thoughts? Please leave a like and comment,
And remember,
“Never let a win go to your head, or a loss to your heart.” – Chuck D.
LINK/BTC Triple Top | Parabola Continuation? Hello Traders,
Hope all is well!,
Today’s chart update will be on LINK with an impressive parabola, will bulls have enough momentum to retest staunched resistance, which has recently put in a triple top?
Points to consider,
- Trend bullish
- Strong resistance
- RSI neutral
- Stochastics projected up
- EMA’s giving resistance
- Low volume
Link is in a bull trend which has put in consecutive higher lows and is now testing its local support area. Price has put in a triple top, a bearish indication from a staunched level that needs to break for a bullish bias.
The RSI is currently neutral; it needs to break its resistance for a confirmation in a parabola continuation. Stochastics are currently projected up, as of now, trading in lower regions where it can stay for an extended period of time; however we do have lots of momentum to the upside.
The EMA’s are currently giving price resistance, needs to turn bullish at current support level, otherwise a break will be imminent. Volume is extremely below average at current given time, an influx of volume is required, bullish and or bearish, to confirm immediate direction of trend.
Overall, in my opinion, if local support is not held, the parabola will be negated. It would then be more probable to test lower support levels whilst still being in an overall bull trend.
What are your thoughts on LINK, will it respect local support?
Please leave a like and comment,
And remember,
“Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
Did you sell into FEAR?? BTC re-test 200EMA today!!Bitcoin had TONS of fear and doubt yesterday, I heard a lot of investors sell their stacks due to fear of going MUCH lower... If you get emotional, you will get SMOKED trading Bitcoin. Have confidence, this market is here to stay with exponential infrastructure being built daily and many, many people putting their lives into Bitcoin's future. Don't fear, play smart, cover risks, and trade intelligently. Never trade more than 5% of your stack!
BTC.D | When ALT Season?| Key Levels To Watch!Hello Traders!
Today’s update will be on the dominance of Bitcoin, where it has recently been rejected from resistance, will the dominance return back to trend line and continue putting in higher lows, or will it break support, allowing us to have a potential ALT season ?
Points to consider,
- Overall trend putting in higher lows
- Major support at .50 Fibonacci
- Major resistance at .618 Fibonacci
- Stochastics projected upwards
- RSI in neutral territory
- EMAs providing resistance
- Volume above average
- VPVR holding dominance as support (largest cluster)
Bitcoin Dominance has been in a strong uptrend since early 2018, putting in consecutive higher lows. Major support is found at the.50 Fibonacci level which needs to hold, if broken then lower level, the .382 Fibonacci, is more probable of being tested. Major resistance on the other hand is found at the .618 Fibonacci level, a break of this level will put in yearly ATH for dominance.
The stochastics is projected upwards, can stay in these regions for an extended period of time, however does have lots of stored momentum to the downside, if BTC.D was to correct. The RSI however is currently neutral; it is hitting its resistance line, where a retest of support is probable.
The EMA’s are giving BTC.D resistance at current given time, this needs to turn bullish when price tests trend line to keep a bullish bias. VPVR as of now is holding price as support, key cluster is being tested, and a break will increase the likely hood of testing the .50 Fibonacci. Volume itself is above average, this signals that there is currently very strong buying and selling pressure in the market.
Overall, in my opinion, the BTC.D at current given time is more probable to test its overall trend line; this will put in another higher low. If BTC.D breaks support, then a retest of the .382 Fibonacci is highly probable, this will put emphasis on a potential ALT season.
What are your thoughts on BTC.D as of right now?
Please leave a like and comment,
And remember,
“Don't blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah