$TRX/BTC 1D: Close to the bottom? Justin Sun has some explaining to do...
Daily time frame, the orange line is resistance.
Potential bottoming out here shortly on TRX, I am watching the moving averages for a potential long entry but this chart does look like a bloodbath. If things start to turn around here a long entry under 200 would be ideal, with the first target of around 330. Not taking this position yet, mainly neutral here seeing how things play out in the lower part of this TRX chart.
Moving
Iota preparing for MASSIVE move!Note the following from my 15m chart:
A) Iota is currently in an ascending triangle (uptrend). It is also running out of space and looks like it will break around 4pm EST.
B) The 50 day moving average is currently acting as a support.
C) A cup and handle has formed which is a strong indicator of an up move.
D) The key here is the purple resistance line, it has already tried to break a few times (see long wicks where price was rejected). If it breaks the resistance, expect a massive move up.
Weekly Forecast Price Outlook (Frontrunning Bitcoin) So my last idea was the monthly (published about 2 hrs ago)...
here is a breakdown to the next time frame down (the weekly) it's a rough forecast with no TDseq numbers drawn, only the red line as you can see to represent about where I think the price action will travel, but it gives the basic idea of what I'm expecting in the future - THIS IS WAY down the road, so I will update accordingly as time goes on.
I drew some forecasts of where the MA's will be in colored dotted lines, once again, rough straight lines, but close enough
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Once again, this is frontrunning, it's not an actual sure thing, only what I think is likely to happen. ALWAYS trade what the technical analysis tell YOU, NOT mine or even your own opinion
BEWARE OF SHORTING ! at this time guys, you can get run over real easily with all these bullish indicators going right now, just look at the Moving averages on this snapshot alone. The long term trend is set
Kick Back Time
Bitcoin squating for another jumpIt's Friday morning and another Bitcoin Breakdown analysis.
During this week we experienced the breakout from the ascending triangle formation I reported on forming last Friday.
The breakout occurred earlier than I hoped as the RSI was just to high to support a large breakout.
As you can see on this Daily chart, there is a large presence of bearish divergence within the MACD and the RSI.
I don't foresee this to be alarm bells to start looking at an upcoming bear market, but a healthy retraction to get our RSI back out of oversold territory.
While we're on the top of RSI, if we take a look at the weekly RSI for BTCUSDT it is heavily within the oversold region.
This retraction will hopefully bring it back down to just under 75 on the weekly RSI and around 50 on the daily RSI before we see another attempt for the bulls to over come.
My next major point is the trend line I have drawn in yellow, I foresee the Price action to trend sideways or slightly down until it makes contact with the trend line, the following it until another large breakout occurs. This a more likely than a breakdown past the trend line to test the 45MA line.
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The following ideas are general and you should contact a professional financial adviser before acting on any investment as it may not be best for your financial position. This is in no way finical advice, so do you own analysis before acting.
RIPPLE [XRP/BTC] Analysis by MorpheusAll information is provided in the chart. (Point on Yellow-notes on chart to see description)
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Tips, notes & suggestions
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Bitcoin: Looking to Test the Local HighCoin Savvy here with a quick short term analysis. There’s something I want to talk about and it’s the 377 ema.
Before I hop in, I discussed in my last post ( )
about how if bitcoin crosses the monthly candle above the 21 monthly ema (bullish on a very high time frame) then I could easily see price action get up to around $6,000 or $7,000, it’ll take some time. Now it’ll obviously have to break $5450 and $5600 before that happens so taking it day by day here.
The daily candle closed tonight above the 377 ema and this has been providing resistance for the past month so far.
Bottom indicator:
RSI is in the neutral zone trying to test that 21 ema. There’s a little bullish divergence with a higher low on price action but a lower high on the RSI and allowing the indicator to reset a little while maintaining supports.
Top indicator:
Stochs having a fresh cross up and pointing up
Daily chart looks like it wants to come up and test like $5450-$5600
That’s all folks, I’ll be writing about the 2 day and 3 day charts once closing time comes and discuss where price action can end up next.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
Gold is look like continue selling on daily and weekly gold look like to continue to sell bear this mind this is not the trade setup first wait for price action to confirm us market direction i better suggest to sell it on the break of structure for aggressive entry look for entry box which i mentioned on chart
if you like my idea don't forget to like it :) good luck see u guys soon.
CGC closed above 1o emaCGC has
CGC has been dormant. it finally closed above 10 ema on the 4H.
Let's see if it finds support there
EURUSD - SHORTprice coming up to the 0.705 and 0.79 zone on the fib also a price reversal zone so expect a push to the downside. also take note that on the 5min chart price has tested the 150MA (RED LINE) several times and was unable to break through it so my thoughts is that it will be used as resistance.
Good luck!
-Pauric