A bearish divergence is spotted as the indicator RSI (14) is making lower highs while price is making higher highs approaching the zone. This implies that the bulls are getting tired and selling pressure will soon get it. Because this is a daily time frame, we will have to be patient enough for price to come back to the entry on chart and set take profit 1, 2...
Can we now short BTC? BTC has impressed us these few days to reach $14k since its last drop from $19k 2017. Now, a bearish divergence has been spotted on the chart and we experienced traders already know that divergences work well on BTC. If market succeeds to go bearish and break pass the first zone, the next target will be the second and third in that order....
Triple top has been formed at a major resistance zone. I expect it to come and retest one of the support zones and close above them for me to enter any of those positions. I would keep my stop loss just a bit below the zones. Note that this is just mere technical analysis. No fundamentals involved. Trade safely.
The great YFI is likely going to dump. Here are my reasons. Using technical analysis, a head and shoulder pattern is clearly shown on the chart as seen which also indicates its ATH (All Time High). On a 4 hour timeframe, price has broken and retested the first zone and now resting on the second zone. A break on the second zone will give higher possibilities of...
Recent price shows a broken and retested falling wedge formed out of a cup and handle formation. We have seen an ascending trendline which will lead which also lead to a formation of a double bottom. I will enter this trade once price closes above that zone above (might come back to retest the trend line or not) with my take profit and stop loss in positions to...