As we wrote in the previous posts, BITFINEX:BTCUSD price is targeting the final upward rise towards the golden pocket in the area of $11,241. Based on the volume and the level of RSI, if the price will able to reach this level then it will create a divergence on both of these indicators. We are starting to monitor the short position as this looks like an...
The latest upward move of BINANCE:BTCUSDT is not that strong as it may seem. Even though the volume was picking up during the breakout from the area of $10,600, the later movement was accompanied by the decreasing volume. The price is currently entering the resistance area. And comparing the previous downward movement (from 12,000$ to 9,800$) with the current...
BINANCE:SUSHIUSDT is forming a nice global descending triangle. Usually, this is a continuation pattern and in the case of SUSHI/USDT, the price should break the bottom of the triangle. There is number of reasons for that: 1) The Sell Zone on the top $2.39-2.51$ which is combined with the downward resistance line 2) Multiple checks of the bottom of the triangle...
The bitcoin price BITSTAMP:BTCUSD broke above the horizontal channel. However, the volume does not support this breakout. The price is aiming to retest the level of $11,100 as a new resistance level. Trading plan: If the price will continue to increase while the volume is decreasing this will confirm the false breakout and the fact that the price is driven...
Based on the 4H timeframe, COINBASE:ETHUSD is forming a nice and solid long setup. The macro picture Starting from March 2020, ETH is in the upward trend. In the past, this trend acted as solid support and so far it remains as a good support level. However, from the price level of $489.38 the asset experienced the downward impulse wave that was accompanied...
Looking at the number of factors BINANCE:NEOUSDT is preparing for the trend reversal and potential downward move. There is a number of reasons for this. 1) Price/Volume and Price/RSI divergence. 2) This divergence occurring next to the important resistance zone of $22.90 3) In the lower timeframe (2H) there is a "Sell Zone" between $22.5 - $22.9 Trading...
Like most of the crypto assets, BINANCE:EOSUSDT is currently trading in the horizontal channel. This channel is supported by the decreasing volume and the buy zone between $2.65-$2.8. The overall high of the channel is around 8% and there are 2 main ways how to trade in the horizontal channel. 1) Trade from one end to the other. Taking into consideration that...
It looks like the market is ready for a bit of cooling and there is number of reasons for that. Firstly, most of the assets including the top coins, have reached the 200MA resistance line. Secondly, we can see the formation of double tops/divergence and other reversal patterns on many assets that were heavily pumped. Why ZEC? This asset looks most appealing...
It looks like BNB is preparing for the launch The reasons for that are the following: 1) We have completed the 5 waves downward channel in the past six months. 2) We are currently trying to break above this downward channel. 3) We have a divergence on the 5th wave between the AO and the price. 4) we broke above the alligator and the AO indicator became...
The graph on the left (Daily) The price is in exponential growth in the timeframe of the last two weeks and is now reaching the 200MA, which is acting as a resistance. At the same time the RSI, on a daily chart, is entering the overbought region. The graph on the right (4H) Price forming divergence in relation to RSI indicator, however, I will wait for...
After a wonderful gain ( even beyond my expectation DASH/USDT ) it is time for DASH to cool down a bit. Currently, at the 4H timeframe, we can see that this opportunity is forming. Set Up It looks like a potential double top is forming. This is also supported by the decrease in RSI and the 1st divergence between RSI and price while the RSI indicator is in the...