Bitcoin testing our first resitanceBitcoin has made a beautiful run up after breaking a strong accumulation zone. As of now we are testing our first target of 10337.17 and after that next target to break is 10643.94. If we break that and head back to 11k, I'm 60% sure we will hit 13-14k by eoy and if we past 12k theres a 90% chance. Atm i'm in a 55x long on btc.
News
None just pure trading
Ta
So lets start off simple
-RSI sits at 51, which is neutral and can go either way. We are bullish, so this is good since in the past btc loves sitting overbought forever. This is one indicator I see to buy more and I have increased my leverage from 20x-55x as of now.
-MACD is dancing around and can go either way, but leans bearish, yet sideways movement and can offset it or a hugh pump than a slight pullback will hit it. If we are bullish we can say we can pump to 11k than pullback 400 dollars to 10643.94 or something similar.
-Volume shows alot of sellers, yet do to the liquidity of holders, it bounces back showing an upward trend
-VPVR levels are sitting in no mans land
-Yellow funel lines: This was created showing an upward projectary towards the 10643.94, with target date of 9/11-9/12. We have overextend the lines a few times and as of now we diped below it. Lines are keep to show it is very possible to pump back into the trend.
-Purple lines: These lines show the high vpvr levels and we could be creating a new range of trading betwen 10281.78/10256.68-10389.92
-EMA of the 50day is showing we are respecting it and bouncing off of it. In a bull market, bouncing of the 50ema shows the strength of the bulls compared to the bears.
Final thoughts
I believe we will never go under 10k for long and don't see it in the near future unless the trend is broken. The high sale volume doesn't represent the trend atm. sp would be 10200-10250
Vpvr
Riot a safe play?Many of you know I talk alot about crypto and mention grayscale, yet grayscale isn't traded on Robinhood or Webull. You can however buy it in your roth. Now what stocks are out there that you can invest in today? Well you have RIOT and MARA, yet RIOT is probably the most known and has the largest marketcap out of the two. I personally took an investment today with Bitcoin's downturn and the stock market downturn. Before the pump of 2017 it was sitting at roughly 2.66-3.63. Now Riot hasn't had the recovery like most, so it seems like a smart play.
News
Again this is my first step diving head first and buying without looking at the history and just comparing the past price history with bitcoin. Only news recently is the CEO sold 4% of his holdings, which not sure if you can blam him its only 4% and he might want to invest in other companies. So take it with a grain of salt
They are losing money which reflects on their stock price not making the money, yet it is surprising with bitcoins rise.
TA
My position is at 2.88
-Riot's trading range atm is between 2.76/2.88 just base on vpvr levels hitting a high of the trading range at 3.19. My position has potential of a 11% gain or a 1-5% lost which the reward is greater than the risk.
-Downside support is around 2.60 then 2.39
-Upside potential is 3.38 then beyond.
-MACD is sitting at its lowest point and looks like a reversal next week is on its way.
-RSI is oversold which is 1 to 1 with Bitcoin
Final thoughts
Not much else to say on this and you shouldn't invest in this company base its TA and be watching Bitcoin's movement since its what drives this price, which is very similar to GrayScale. If you don't want to hold digitl assests than this is the stock for you. When bitcoin goes on its bullrun you can suspect between a 2-3k% gain across the board with new ath a % gain of 5000 on your investment with a pt target of 100 dollars. Now I'm not sure on that, but Riot would need a marketcap of about 4.740billion and some change.
Bitcoin on the pullback before the rip?Now I don't want to bore you with all my lines since I never remove atm for bitcoin. The reason I'm not removing my lines atm is because we havn't created anything special and pullbacks are very important to know when to buy. Atm bitcoin is topping out/sitting at a level that it has hit over 5 times and always resulted in a downward movement after hitting the high 19k peak in 2017/2018.
News
-Many major companies are looking at Eth to help build their business
-GreyScale keeps growing investors, yet price has been pretty stable and showing similar chart patterns to Bitcoin, yet It is slightly undervalue compared too bitcoin.
Ta
Instead of giving you range crap and I'll just say if we can't break this trend we won't see a 14k high anytime soon. A pullback range is from 10.5k-9.5k due to vpvr levels looking at the daily. Its major pullback, but hey you in crypto which there isn't alot of money holding up the price compared to stocks and even gold. I read somewhere its only couple 100million dollars, which may seem like alot, yet that 100million dollars is spread out deep in order books.
Final Thoughts
Like before buying a sub 9k bitcoin was prime and we havn't gone under 9k yet. I am fearful we might get close if we have that 9.5k pullback, but again like before and every other bitcoin TA I do we will hit a new ATH next year if we get the COVID vaccine this fall or q1 next year. COVID has taken a turn on the market, yet the market keeps rising as money left the market and theres jsut no one holding prices down besides the common investors trying to make money while they sit at home.
TDLR
A pullback between 10.5k-9.5k should be added to your chart/notification
NKLA is only $2 away from the 70% zoneNKLA is probably the most hated and controversial stock in th EV market. I did take a position in NKLA even though a drop to the 70% correction zone could be meet, yet my trade position would last till the event up to NKLA world and hopes that the earnings report tells us pre order numbers on the badger and the the order numbers of the semi trucks.
News
-Trevor decided to stake his company shares, meaning his portion, to buy more shares. This will in return give him more ownership of the company as someone wrote up to 40% (not sure if thats true). Problem with this its not gonna affect NKLA nor is it even a stake since its existing shares and if the company flops no harm no foul, since he already made money on going public.
-NKLA badger is reported that the US hydrogen fuelcell version will have to wait, so NKLA can establish more pumps, since there's only 70 in the USA. Seeing their business model, we might not see the hydrofuel cell version until the semi network is established or partnerships with gas station companies. This is different in Europe will they will see the badger.
-NKLA has broke grounds in Arizona with its manufacturing facility. This also had the Arizona governor showed up. This is really big news for future growth of the company.
-TESLA beat its earnings and green energy vehicles are growing rapidly. If NKLA is successful at NKLA world and show a working Badger, they might be able to piggyback on the success of TESLA. Also watched a video on Astroid Mining and talked about how hydrofuel cells are a need for future space travel. Again very long term.
-According to recent data from Fintel, a free and paid site you can look up info on stocks and companies along with hedge funds, show institutional ownership is growing with less selling on their part going on.
-JPMorgan relased their price target of about 44-45 dollars, yet don't see any support their besides a bounce after the first crash too that level.
-Warrants expire next month as well. This will bring in more shares, yet with the shares already avabile this will have a small impact, yet looking at the price it might be psychological fear.
TA
-Like this week, that $27-$28 mark is our 70% correction zone and we are almost at it. What to expect? Likely to break below it and have a strong bounce back, yet do we sell the bounce back?
-Volume would need to pickup and help the VPVR level show there's trading action, yet as you can see the volume spikes and it dies off showing no signs of a reversal in the price anytime soon
-MACD is still uncertain what it wants to do. At eod it shows potential upside, yet the downward selling isn't helping.
-RSI is oversold, yet now I guess we are trying to do price discovery. Daily still shows more downside since RSI on that is oversold, yet is only at 36 with 50 being the middle ground.
-EMA is overextended and would need some good sideways movement to fix it.
-Now with the 27-28 being the zone of 70% correction I also put two more "support" lines under it where I saw sideways movements in the past. If you still want to wait you can look for an entry around 20.61 or 13.95, so buy zone is 28-13.95. After 13.95 gl
Final thoughts
If trevor is just gonna market buy, then he's an idiot. I would hire a professional to buy for me or set limit buys at certain areas. Again my current trade is down, yet holding till december is my plan. I don't plan atm to buy anytime soon and the only confidence the bulls have is that institutions are buying and this is like early days in TESLA, where everyone hates on you until something unexpected happen. Do I think NKLA is gonna be successful? IDK, but Elon did say with current automotive companies there's no competition. Can NKLA fill that gap? You also got a company called fisker, yet I would stay away since they already went bankrupt once and they are the same with NKLA and only have a concept idea, yet in its recent youtube videos and instagram videos, NKLA has shown off its Semi driving around and have famous people to show it off to. Other EV companies that are already established is NIO, really popular, and also one my fav since they partnered up with a crypto called VET, BYD. Those two are chinese, so might not find the same gains compared to TESLA.
Boeing too big to fail?Its interesting looking at Boeing and only reason doing TA is cause fractional shares exist, but someone asked me if its possible for it to go back to 230. Now this stock might not be the biggest gainer, but atm its on its own path towards airlines stocks with American and Spirit in fight who is gonna win, yet it is possible for both to survive and if American airlines falls I would go United and Spirit. Yet we aren't hear to talk about Airlines in general, but boeing does make the planes.
News
-Boeing Ceo painted a grim future short term for Boeing and also suggested an Airlines isn't doing so great and could fall (maybe American or Spirit?), yet Boeing went up the next day with positivity coming out after negative nancy
-Boeing got permission to start building the next gen planes
-Earnings coming up (yet is the negativity price in?)
TA
-From what you see is a fib retracement from 230 to about 165, which it did double bottom and it broke out of a downtrend recently, yet has been going sideways in the red zone.
-If it does drop could see a decline around 5%-13% with worst case it going back to 145 with that being a 19% drop at current price. The 19% drop is a 38% drop from its high, which isn't alot for a crypto veteran, yet I think this company is too big to fail, so i suspect a 13% drop on worst case on earnings.
-The bullish upside is a 9% gain going back to around that 200 dollar level
-Looking at the MACD it looks bearish for tomorrow, yet again it is tighting with the vpvr around the price range we are at
-RSI is neutral, but trends to oversold. Again looking for a morning drop looking around that 176-174 range if it can hold it as shown with the vpvr going from 174-169
Final thoughts
I think this company to big to fail and will be interesting on how earnings will be with Boeing going back to production and getting a feeling that the government will back them up. Will i buy this stock? No cause I'm not looking for a 9% return on a trade and still think my NCLH postion is fine as CCL is struggling and RCL going alright (NCLH price target was raised from 12.50 to 19 today and it sits under that target as RCL got moved up, but its current price sits above it), yet I would maybe get in a small long postion on boeing with the upside looking good if the morning session pops.
Up or DownSo we got our retracement back to where we wanted and now is the question where we go now? ATM we are in an uptrend with on lvl2 data there is over half a million dollars from here to 2.30. Theres not much TA and news, just nndm tweeting out 3D printing and as we wait for PR on the military to contract and other news. We can suspect massive stalemate in where we want to go. If we continue this uptrend we could suspect a breakout around June12-17. As drawn the 12th will cross over a downtrend line starting from May 22nd ish. The 17th is interesting cause if no news comes out we could break down to the downside and thats at 3.31.
Now on my graph you can see a fibretracement, yet I'm not sure how it works, but some key price targets we talked about last time is there and I'll give you them and if you know how a fib works good and if not don't worry about it.
1.618 is at 6.37, which is close to our speculative price target of $6.42
1 is at 4.83 which is close to our $5 target
I also put 3.88, just cause that was our first wick we got rejected hardcore at the first pump till we went to 4.83.
Final thoughts is that their PR blows, yet institutions don't care about PR as much in the short term. Just as long as the development continues which I still have confidence in them for now. Looks like short term gains may not be here atm, yet it is interesting seeing half a million in the order book holding this stock up. Again short term is just accumulation imo could go look at NKLA, which is a Tesla like company that focus is on trucks for consumer and commercial like truck drivers. Their first truck goes on sale next year.
MAXR big move coming soonHello, today I will talk about MAXR one of my favorite stocks since its space and who doesn't love space. Based on VPVR levels, support lines, and the slow down turn. We can suspect a big move likely to hit around next week on Wednesday unless we trade sideways .
Support zones to buy are the following
-9.98-9.85
-9.07
-and unlikely to hit before next Wednesday if we are bullish is 8.21
Why am I bullish? iIsee sideways consolidation since the inital dump of covid and hasn't been really moving much with the market, so we can suspect some catch up along with the United States reopening. I do suspect some mediocre earnings next round, but if they are smart increase in R&D during this crises like NNDM has done.
TA
-We are in a downtrend, but have been consolidating and creating higher lows with a double bottom around 9.07
-MACD is bullish, but is sideways showing uncertainty among weather to be bullish or bearish.
-RSI is the same as MACD and is Neutral
-Trading is a Sell on the hourly
-Most bullish thing is we are above the 50ema on the hourly and if it holds we will see major bullish movement, so one week is a good timeframe to suspect the move
I'll be bulish and have bought in at 10.15. I know I could play it smart and wait for my targets to hit, but we are already at a discount compared to our $15-$17 range and with the Space market expanding every month with Tesla and Virgin Galactic along with Blue Ocean; might be a good time to buy some discounted shares for a mid long term hold. I may buy some more shares if we go under 9.90
NNDM expectations gonna get beat on earnings?Hello, last TA played out fine, but alot of people wonder if this was just a pump and dump. To me TA never lies if you understand volume and support and resistance levels. There was massive acculation in the .72 - .77 range for weeks and on Friday there was two buy orders of a million shares a piece. A PnD woudnt put in two buys, its multiple buy orders hitting at once with volume increasing till the PnD. Was this news related? No cause the news was already old news by over 24hrs after release, so with that we can expect some more bullish momentum coming up.
I drew more support lines since its how i traded, but what can we suspect?
-Well we have a range between .82 - .86 as shown by the red box of after market
- .82 is an area of high vpvr, which means high trading range that goes as high of .84 and as low as of .8 . Shooting up to .86 last trade can be shown as theres no sellers in this range , which next high vpvr level is .909
-TradingView switched from sell to netural
-Support levels based on VPVR levels is .81 - .82 , low is back to prepump at .76
-To maintain above the 50ema on the hourly is hold above .8 , which we sit and the uptrend low to remain bullish on Monday is .84
-Targets short term are 1.09 - 1.23 with a high of 1.41
-RSI is trending under but above the 50, so it is overbought
-MACD is Bullish
Now there are 3 other targets from CNN money, MarketWatch, and Webull analysis at $5 , $7.5 , and $18 . Thats too long term and would like to see more bullish momentum to even start thinking about those prices, yet we can be bullish after those two 1 million share buys. Also googling their financials Cash on hand and Revenue as increased as of cost of operations have decreased.
Conclusion is remaining bullish and I did sell some and rebought to increase my postion. I still think theres a great future for this company as US reopens they will boom, since they do most of their business with the US.
XTZBTC Long Term Trend Line| Structural Support| Stoch Cross Evening Trader’s,
Today’s Technical Analysis – XTZBTC- bouncing off from its trend line, an area of significance for the overall market structure
Points to consider,
- Macro trend line holding
- Structural support confluence
- Resistance test sell off
- RSI below 50
- Stochastics buy cross
- Volume below average
XTZBTC is respecting its macro trend line with an initial bounce that needs follow through. This area must hold as it is in confluence with structural support, a break will negate market structure.
The resistance test lead to an impulsive sell off, a correction to local resistance is highly probable
The RSI is below 50, not officially oversold whilst the stochastics has a buy cross at lower levels, indication of momentum shifting.
Volume has been below average for a while; a bull influx at a key technical level will show strength in price action. This is important as failure can run the risk of negating the whole market structure.
Overall, in my opinion, XTZBTC has a high probability of testing local resistance. A break above will confirm the respect of the longer term trend.
What are your thoughts?
Please leave a like and comment,
And remember,
“Trading mastery is a state of complete acceptance of probability, not a state of fight it.”
― Yvan Byeajee
TRXUSDT Local Support| Hidden bullish Div| Volume Climax Evening Traders
Today’s Technical Analysis – TRXUSDT – trading in a small range with defined levels to breach for either a bull or bearish scenario.
Points to consider,
- Bullish trend (higher lows)
- Structural resistance (triple top)
- Local support holding (wicks)
- RSI possible divergence (Further confirmation needed)
- Stochastics momentum down
- Volume climax evident
The local trend is bullish with consecutive higher lows but it is now important to note that a triple top may be in if structural resistance does not get breached.
Local support is holding true as a current trade location; multiple wicks suggest buy pressure coming in.
Also another important observation is that these wicks are in a higher low fashion.
The RSI has a probable hidden bullish divergence, putting in lower lows as price puts in higher lows.
Confirmation will be on the next confluence touch at local support.
The stochastics momentum is stored down, currently at 50, there is room for further downside as price retraces.
Volume climax is evident, indicating that a temporary top is in; this will obviously be negated with a breach of structural resistance.
Overall, in my opinion, TRXUSDT needs to come for a retest of local support; this is where the hidden bullish divergence will be confirmed and or negated.
What are your thoughts?
Please leave a like and comment,
And remember,
“Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
COTIBTC Bullish Divergence| Local Resistance| Low VolumeEvening Trader’s
Today’s Technical Analysis – COTIBTC – trading at local support, a break of the 21 MA will further confirm a rally in to local resistance.
Points to consider,
- Local support holding
- Valid bullish divergence
- 21 MA current resistance
- RSI below 50
- Stochastics projected up
- Volume below average
COTIBTC is trading at local support forming a valid bullish divergence where an impulse move into local resistance is probable.
The 21 MA needs to break, current resistance, this will confirm further upside in the immediate term.
RSI is clearly diverging from price; break of its 50 level will change the immediate bias to bullish.
The Stochastics currently has stored momentum to the upside, currently no valid sell cross.
Volume is below average, an impulse is probable as this is a trade location.
Overall, in my opinion, COTIBTC needs further confirmation by breaking the 21 MA before a probable impulse move into local resistance as volume is below average.
What are your thoughts?
Please leave a like and comment,
And remember,
“The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.” – Victor Spreandeo
USDCAD Impulse Move| Clear Range| Structural Resistance Evening traders
Today’s technical analysis - USDCAD - rebounding at a technical level after and impulse move down, price is likely to test structural resistance
Points to consider,
- relief rally after impulse sell off
- 200 MA current resistance
- Local support retest (higher low)
- RSI above 50 not oversold
- Stochastics projected up
- Increasing volume (impulse likely)
USDCAD’s rally is in context with its recent sell off into structural support, a key technical level triggering buy pressure pushing price up.
The next resistance line is the 200 MA, price is likely to respect this level. A retest of local support is probable as this will establish a relative higher low.
The RSI is above 50 but not officially oversold, indicating that the move up may not be over. Stochastics on the other hand is in the upper regions where it can stay trading, momentum is up until a sell cross comes to fruition.
Volume impulses are evident however no significant volume climax nodes, this can be an indication that the temporary top is not in yet.
Overall, I’m my opinion, USDCAD is likely to respect the 200MA, putting in a higher low at local support before another impulse into structural resistance.
What are your thoughts?
Please leave a like and comment,
And remember,
“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
SPX Rising Wedge|Stochastics bearish Div|.618 Fib Resistance Evening Traders,
Today’s technical analysis – S&P 500 lndex – breaking out if its rising wedge structure, respecting strong upper resistance, it is likely to establish a macro lower high.
Points to consider,
- Bearish trend structure
- .618 Fibonacci Resistance
- Local Support retest
- RSI testing 50
- Stochastics bearish divergence
SPX Index is in bear trend with this macro lower high likely to be set due to the break of the rising wedge.
The .618 Fibonacci is current resistance, travelling below it is considered to be a bear market, a break above and consolidation will negate this narrative as this will also take out the 200 MA.
Local support is likely to be tested as this is the next structural trade location, bulls need to defend this level.
The RSI is likely to break 50, where trading below will increase the probability of a bearish bias. Stochastics on the other hand is clearly showing a valid bearish divergence, indicating momentum shifting bearish.
Overall, in my opinion, SPX is due for a correction, breaking this rising wedge increases the probability of putting in a lower high.
The trend is still developing, but these are early signs of momentum running out for the bulls.
What are your thoughts?
Please leave a like and comment,
And remember,
“A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business.” - Van K. Tharp
Netflix Blue Sky Breakout| S/R Flip| Fibonacci Targets Evening Traders,
Today’s Technical Analysis – NFLX – confirming an S/R flip, on the verge of a blue sky breakout if local high gets taken out.
Points to consider
- Trend broke key resistance (S/R Flip)
- 1.414 Fibonacci Extension Respected
- RSI above 50
- Stochastics projected down
- Volume climax evident
NFLX’s trend has breached a key level confirming an S/R flip; it has tagged the 1.414 Fibonacci Extension, marking the temporary top.
The RSI is currently above 50, indication of a bullish bias whilst the stochastics is projecting down with no official buy cross.
Volume climax is evident; price is trying to establish its equilibrium in this new range before its next impulse move.
Overall, in my opinion, if NFLX takes out its local highs, it will continue its blue sky breakout. However a breakdown and close below the S/R flip region will establish this being a false break.
The local support retest provides the best R/R trade for Netflix at current given time.
What are your thoughts?
Please leave a like and comment,
And remember,
“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” ― Yvan Byeajee,
BTC - We Started From the Bottom Now We...$6708. Soon.
Using the VPVR indicator we get to see where people like to spend the moneys. I don't know what VPVR stands for, I prefer to call it the "Sauce", and I know it's where most people get in on it, high volume of traders in this price zone over the projected time period. I'm using General Zhao's Binance Volume cuz it's the biggest kitchen... i mean, exchange right now. Eventually, a nice steady $6606 or $6066 will be weird enough to keep people interested in Beetcorn. Chikun dunna seema wanna fly along with the Corn Pop through 9.4k. But Chikun nor Eor or whoever ain't Corn and Corn might not moon son but corn still cooking. I'm starting to think Colonol Sanders was Satoshi. USA, I'm an idiot, yes and hungry, yes all nothin is whatevs cuz i dunno nuthin.
$6708
Macro Broadening Wedge Pattern| MA Support| Declining Volume Evening Trader’s
What a historic day in Bitcoins price – assessing the situation, Bitcoin is trading in a probable broadening wedge pattern on the weekly timeframe.
Points to consider,
- Immediate trend parabolic
- Resistance line tested
- Moving Average support
- RSI crossed 50
- Stochastics projected up
- Volume tapering of
BTC has had an insane pump from the low, consecutive weekly green candle closes breaking all structural resistances and cleaning up the CME gap.
Current resistance being a staunched one was tapped, further solidifying its importance. The Moving Average, 21, visually coming in as support which can hold true for the time being.
RSI has crossed 50, historically this indicates and uptrend on the weekly whilst this stochastics is projecting up, momentum is shifting.
The bull volume nodes are declining with an evident volume climax on the lower timeframes, suggesting temporary top being in.
Overall, in my opinion, BTCUSDT is due for a correction after this significant rise. The wick represents profit taking, BTCUSDT is not officially out of the woods until we break this pattern.
What are your thoughts?
Please leave a like and comment,
And remember,
“In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee,
Massive Target hitHello, well i have posted back to back TA on current market movemt on bullish, but now I'll head into Neutral zone with a trading range projected between 8196-8564. This would give the trader a hugh volitily range before the halving, which is subject to happen in just over 12days.
What to expect? Well a pull back after todays move is required and could test 8196. Like said in past post its all about miners now. Break even is at 3k ish. You halve that and you get roughly 6k low 7k, so its in the miners best interest to keep the price above 7500 which we got a massive range of a new bottom of 7231 all the way to the new support that was formed at 7688. I'll remain netural and not leverage trade and just buy BTC with my paycheck in small amounts after making 60% and 80% gains on leverage trading. Still would like to test bybit vpn checker after May 20, if that fials i would have to use TraderWay, which is only open during Forex hours (Future market open and close Friday at Noon).
So Projection is maybe a pull back at 8196 or just sideways movement with massive swings till halving. Don't think the Daily or weekly will help anyone. Just watch the order books (I use coinbase pro).
CGC New Range| Structural Support/Resistance| S/R Flip Evening Traders,
Today’s Technical Analysis – CGC - impulse move into resistance where CGC is likely to range trade.
Points to consider,
- Macro trend bearish
- Resistance confluence
- S/R Flip retest
- RSI above 50
- Volume climax
CGC’s macro trend has been putting in consecutive lower highs with a recent sell of ending with an oversold bounce.
Currently testing structural resistance which is in confluence with the 200 MA, a rejection is probable.
This will likely lead to a retest of support, confirming the S/R Flip
RSI is above 50, cooling off from oversold conditions whilst the stochastics is trading in the upper regions with a sell cross coming to fruition.
Volume climax is evident, indicating temporary bottom may be in as CGC finds its equilibrium
Overall, in my opinion, CGC is likely to trade in this range before another impulse move. CGC’s general immediate trend can be determined by the break of either of the key support and or resistance level.
What are your thoughts?
Please leave a like and comment,
And remember,
“In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee
Bitcoin sitting above new supportNow I posted a massive move coming in the next 24hrs, did we hit it? Short answer I don't believe we seen the massive move in price, but we have seen something very bullish. At the time of wrting this bitcoin is trying to hold support above 7688 give or take. My support lines are not accurate, but they are close enough where the now the vpvr is showing as a major trading volume.
I as you see I drew a pitchfork, just seeing if there is anything we can go off and well not much. We do see though when it passes or enters the blue area it is meet with rejection, yet at the same time according to this pitchfork we are creating higher highs and higher lows. The goal for today is to break out of this new support if it holds and start heading up to 8196, which would be the big move in price we are looking for.
TA
atm MACD is bearish, yet it is subject to change if we start pumping.
Massive sale volume spikes, yet buyers are there to pick it up and hold the support that was resistance.
RSI is heading to neutral and one can assume we are oversold.
I'll remain bullish until we break the 50ema on the hourly which we tipped and is following the blue zone of "overbought." Breaking the 50ema would be bad, yet we markets open was meet with sale preasure that was bought up. Along with GBTC is up almost 2%, which puts BTC target pass 8196.
Bitcoin VPVR RangeBitcoin is near the top of the range, just above price is a high volume node which is strong resistance. If bitcoin succeeds to hold the HVN 7100 level which is also demand it can test the 7500 level again ,if it breaks that we are looking towards a breakout to the 8000 area. When Bitcoin fails to hold the 7100-7050 level it will likely move back down to 6900.