BNB 4h: Wedge patternin this analysis, I added the Technical analysis indicator which is useful to understand the MA's and Oscillator's results
BNB is below the long term period of the moving averages.
Leastsquares
Raff Regression Channel (RRC) The Raff Regression Channel (RRC)
The Raff Regression Channel , developed by Gilbert Raff, is based on a linear regression, which is the least-squares line-of-best-fit for a price series, with evenly spaced trend lines above and below . The width of the channel is set by determining the high or low that is the furthest from the linear regression.
Because the channel distance is based off the largest pullback or highest peak within a trend, for effectively drawing and using a Raff Regression Channel it is recommend/required that a Raff Regression Channel is applied to “mature” trends.
Once The Raff Regression Channel is drawn, covering an existing trend, EXTENSION LINES are drawn to identify support, resistance, reversal points, mean reversion
Effectively drawing and using a Raff Regression Channel
The trend is up as long as prices rise within this channel. An uptrend may be reversing (not always, but likely) when price breaks below the channel extension . The trend is down as long as prices decline within the channel. Similarly, a downtrend may be reversing (not always, but likely) when price breaks above the channel extension . Moves outside the channel extensions can be indication of a reversal or can denote overbought or oversold conditions
breakout example
reversal example
█ LINK to AUTOMATED INDICATOR VERSION of RAFF REGRESSION CHANNEL
█ OTHER CHANNEL CONSEPTS
Linear Regression Channels,
Fibonacci Channels,
Andrews’ Pitchfork,
Weekly High - Good Volume - Contracting RangeLooking at a weekly high expectation hit, but also the LSR line moving out in the lead says something to me.
LSR likes to point the way, but sometimes I see this nice reversal setup when the 2 align a certain way.
Also note, I like the LSR a lot on Russell-2000 or S&P-500 futures day chart.
VeChain - Longterm OutlookVeChain Longterm Outlook:
I thought i’d do this post slightly differently, more neater with less indicators on it so you can see how far VeChain has come and what a crucial time VeChain is nearing at.
VeChain is well above its 50EMA on the daily chart.
The Bollinger Bands are indicating volatility has increased with the Upper and Lower Bollinger Bands expanding away from each other.
VET is still above its Bollinger Bands Middle Band Basis which is a 20 Period SMA. VET is essentially walking the Upper Band upwards.
The ADX DI SMA is indicating the upwards trend strength is huge with the ADX (Yellow Line) at 75.8 above its 10 Period SMA (White Line) which is at 68.7. The +DI (Green Line) is at 35.8 which is hugely above its -DI (Red Line) which is only at 2.7.
If we look at the Chaikin Money Flow (CMF) we can clearly see VET is being accumulated with the CMF (Green Line) above the Accumulation/Distribution Line (Dashed Line) at in the Accumulation Zone at 0.13 at the moment.
I have added a Least Squares Moving Average (LSMA) on this daly chart to show that VET is very strong and shows no sign of crossing back under its LSMA anytime soon. FYI the price crossing back under the LSMA is a sell signal.
VeChain has found very strong support from its Lower Yellow Pitchfork Support Line.
There is no fear of VET crossing and clossing a daily candle below its Pitchfork Hagopian Line in the short to mid-term.
Very soon, VeChain will likely attempt a crossing back above its Pitchfork Median Line 🤯.
We can expect massive resistance at the Pitchfork Median Line, and there should be some pullback expected because of this resistance……… or maybe it’ll breeze through, such is the nature of cryptos.
Crossing and CLOSING a Daily Candle above this Pitchfork Median Line and turning that line into strong support will enable VET to set a new launchpad from which it can achieve its next challenge…….. crossing & closing a daily candle above $1.
As you can tell, I’m very excited about this prospect.
Just google VeChain and see just how much of a sleeping giant this crypto is. It has a real world partner & client base that would make any corporate jealous with envy. People have asked me, “why doesn’t VeChain promote & pimp themselves out like other crypto companies”?…… my answer is…. because they don’t need to.
As i stated before, VeChain should be in your longterm portfolio & is definitely one to watch.
I hope this is helpful with you trading and hodl-ing 👍🔥🚀🌍🌔🪐🛸👽
DFT - Weekly mappingObservation and market mapping after the Opep & Corona Black Swan events:
=> Trend medium term investors in H4 broke
=> Trend medium term investors in daily broke
=> Trend medium term investors in weekly broke
Assessment done yesterday: The gap between the last supply zone and ascending trend and the weekly medium term investor was 4.8k$ to 7.2k$ (for the top of the supply zone = Cloud), the daily closure won't back above 7.2k$.
There is no more supply zone below 4.4k$. If it closes above in weekly, the next targets will be self fulfilling support from past cycles.
Gl
